Estate of Morton B. Harper, Deceased, Michael A. Harper, Executor - Page 14

                                       - 14 -                                         
          partnership.  Michael, as managing general partner, completed the           
          requisite form opening a new account with M.L. Stern & Co. for              
          the partnership.  The form designated Michael as the “individual            
          * * * authorized to enter orders on behalf of customer”.  Neil              
          Hattem served as decedent’s broker and subsequently as the broker           
          on the HFLP account.                                                        
               Letters dated September 30, 1994, were then sent by decedent           
          to Putnam Investor Services and to Franklin Templeton requesting            
          transfer of the respective Putnam and Franklin Fund accounts to             
          HFLP.  Lastly, by a letter dated November 22, 1994, decedent                
          requested transfer of the Trust’s stock in Rockefeller Center               
          Properties to the partnership.                                              
               During this period, on September 23, 1994, Michael opened a            
          checking account at Bank of America in the name of the                      
          partnership with a $200 deposit.  Thereafter, the first activity            
          in the account, other than the debiting of a monthly service                
          charge, was a deposit on October 13, 1994, of $3,750 representing           
          interest paid on the Marsh note.  The check register maintained             
          by Michael, in conjunction with his explanatory testimony,                  
          reflects checks written for the benefit of HFLP partners in 1994            
          and 1995, as follows:                                                       

Page:  Previous  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  Next

Last modified: May 25, 2011