Estate of Melvin W. Ballantyne, Deceased, Jean S. Ballantyne, Independent Executrix, and Jean S. Ballantyne - Page 27




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          partnership according to any arbitrary percentage of the profits            
          or losses of the entire partnership.                                        
               The third factor to consider is the partners’ interests in             
          cashflow and other nonliquidating distributions.  In general,               
          Melvin and Russell agreed to allow each other to withdraw the               
          portion of proceeds generated by their respective activities.               
          The evidence in the record indicates that different bank accounts           
          were maintained for the two activities, with Melvin primarily in            
          charge of the oil and gas accounts and Russell primarily in                 
          charge of the farm accounts.  Russell testified that he wrote               
          checks on the BBP farm account as he needed the money, not as the           
          income was received by BBP.  He further testified that although             
          he felt he was entitled to farm income, there was nothing that              
          prohibited Melvin from writing a check from the BBP farm account            
          and that if Melvin wanted money from the farming activity then              
          Russell would write him a check.  Russell testified that Melvin             
          stated several times that he would take $200,000 a month out of             
          BBP.  Russell believed that this amount was more than Russell               
          withdrew from the partnership.  Additionally, Russell and Mr.               
          Feldmann both testified that over the life of the partnership,              
          Melvin probably withdrew more money from the partnership than               
          Russell did.18                                                              


               18We note that, with respect to the grain sales made in                
          1994, Jean Ballantyne was listed as the payee for a $73,181.24              
                                                             (continued...)           





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