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To: Janice Shell who wrote (19929)2/22/1999 2:24:00 PM
From: PatiBob  Read Replies (1) | Respond to of 26163
 
The provision does not authorize a broker to borrow securities (or make the related deposit) merely in order that he or some other broker may have the securities ''on hand'' or may anticipate some need that may or may not arise in the future.

This sure sounds like what happened.

Sylver clearly stated that:

23 He then asked to borrow -- well, before the 60 days and the
24 money had to come due, he asked -- he said he needed another
25 300,000 shares of stock in order to show the people in England
ASSOCIATED REPORTERS OF NEVADA (702) 382-8778

16
SYLVER - DIRECT

1 that he was serious about doing this investment.
2 And then my father -- he wrote a letter, and my father
3 signed it that he borrowed 300,000 shares from my father to be
4 returned in 60 days.


PB