Far East Bank & Trust Co. v. Commissioner of Internal Revenue

[C.T.A. CASE NO. 5592. November 21, 2000.] FAR EAST BANK & TRUST COMPANY , petitioner , vs . THE COMMISSIONER OF INTERNAL REVENUE , respondent . D E C I S I O N The case at bar seeks for the refund or the issuance of a tax credit certificate in the amount of P15,591,724.38 allegedly representing Petitioner's overpaid/erroneously paid gross receipts taxes for the four quarters of 1996. As represented, Petitioner is a banking institution, duly organized and existing under the laws of the Republic of the Philippines, with principal office located at Far East Bank Center, Sen. Gil Puyat Avenue, Makati City. For the four quarters of 1996, Petitioner filed with Respondent its Quarterly Percentage Tax Returns and paid the corresponding gross receipts tax (GRT) for each of the said quarters, hereunder summarized, the tax bases of which include the passive income which were subjected to twenty percent (20%) final withholding taxes (FWT). Date of Filing Return/ Taxable GRT 1996 Payment of Tax to the BIR Gross Receipts Paid Exhibit 1st Qtr April 22, 1996 P1,872,688,186.32 P84,227,257.38 A 2nd Qtr July 22, 1996 1,915,952,342.99 87,660,200.49 B 3rd Qtr October 21, 1996 2,132,729,197.61 95,892,346.93 C 4th Qtr January 20, 1996 2,098,921,298.09 91,265,113.69 D P8,020,291,025.01 P359,050,918.49 ============== ============= After taking into consideration the decision of this Court in CTA Case No . 4720 entitled Asian Bank Corporation vs. Commissioner of Internal Revenue promulgated on January 30, 1996 , which ruled that the 20% final withholding tax on interest income should not form part of the taxable gross receipts, Petitioner, on March 27, 1998, filed with Respondent a written claim for refund of its alleged overpaid GRT for the four quarters of 1996 in the total amount of P15,591,724.38 (Exh. E), broken down as follows: Interest Income GRT For Quarter Subjected to 20% Final Tax Rate Refund 1st P56,716,914.65 5% P2,835,845.73 2nd 78,421,740.29 5% 3,921,087.02 3rd 82,011,831.06 5% 4,100,591.55 4th 94,684,001.50 5% 4,734,200.08 TOTAL P311,834,487.50 P15,591,724.38 ============= ============= (Exhibit F). On March 31, 1998 Petitioner filed with this Court the instant Petition for Review for failure of the Respondent to act on the claim for refund. Petitioner presents the proposition that the gross receipts tax it paid for the four quarters of 1996 were based on the total gross receipts, inclusive of the passive income, which were subjected to the 20% final withholding tax at source thus, it argued, that in the light of this Court's ruling in the Asian Bank case, supra , which states that the 20% final withholding tax on interest income should not form part of the taxable gross receipts, Petitioner actually overpaid the amount legally due from it, insofar as its GRT obligations are concerned, hence, a refund is in order. EDHTAI Respondent on the other hand, raises in the usual token of a defense that (1) Petitioner's claim for refund is subject to and is still under administrative investigation; (2) in an action for tax refund, the taxpayer has the burden of showing that the taxes paid were erroneously collected and failure to sustain said burden is fatal to the action; and (3) claims for refund are construed strictly against claimants since they are in the nature of tax exemption. . . . The legal issue to be resolved by the Court is whether or not the 20% final withholding tax on certain passive income of the Petitioner should be excluded in the total gross receipts of said Petitioner for GRT purposes, and the factual issue is whether or not Petitioner has adduced sufficient evidence for the entitlement of the amount sought to be refunded. With regard to the legal issue, there is no squabble that Petitioner is entitled to the claimed refund. This is not a case of first impression. As correctly stated by the Petitioner, this Court has resolved the same issue in favor of the Petitioner in the case of Asian Bank Corporation vs . Commissioner of Internal Revenue, supra , which is anchored on similar factual circumstances and is on all fours with the case at bar. Said decision states in part: "We agree with the Petitioner that the 20% final withholding tax on its interest income should not form part of its taxable gross receipts. xxx xxx xxx This conclusion is in accord with the interpretation of the Supreme Court in the case entitled Collector of Internal Revenue vs. Manila Jockey Club, 108 Phil. 821, as quoted by this Court in disposing of a similar issue in the case entitled Compaia Maritima vs. Acting Commissioner of Internal Revenue, CTA Case No. 1426 dated November 14, 1996, thus: In the second place, the highest tribunal of the land interpreted the term: "gross receipts" to mean all receipts of a taxpayer excluding those which have been especially earmarked by law or regulation for the government or some person other than the taxpayer. Moreover, the Court of Appeals in the case of Commissioner of Internal Revenue vs. Citytrust Investment Philippines, Inc ., CA G.R Sp No. 52707, August 17, 1999 , affirmed our stand that the 20% final withholding tax on interest income should not form part of the taxable gross receipts, when it ruled, thus: "Accordingly, the 20% final tax withheld against the Respondent's passive income was already remitted to the Bureau of Internal Revenue, for the corresponding year that the same was actually withheld and considered final withholding taxes under Section 50 of the same Code. Indubitably to include the same to the Respondent's gross receipts for the year 1994 would be to tax twice the passive income derived by the Respondent for the said year, which would constitute double taxation anathema to our taxation laws." The legal issue having been settled, what remains to be resolved by the Court is the factual issue, that is, whether or not Petitioner has established by evidence its claim for refund. In the case of Equitable Banking Corporation vs. Commissioner of Internal Revenue, CTA Case No. 5640, promulgated on June 7, 2000 , and in a litany of cases, this Court ruled that "aside from proving that the petition for review was timely filed within the two-year reglementary period, Petitioner must also prove its compliance with the following requisites: 1. That it paid the gross receipts tax, 2. That it erroneously overpaid its gross receipts tax by including the 20% final withholding tax derived on its passive income as part of the gross receipts declared in the quarterly percentage tax returns for the period involved; and 3. That the withholding agent certifies that the 20% final withholding tax was paid on such passive income ( Bank of Philippine Islands vs. CIR, CTA Case No. 5458, Feb. 15, 1999; and BPI Capital vs. CIR, CTA Case No. 5457, March 1, 1999 ; cited in SolidBank Corp. vs. CIR , CTA Case No. 5408, April 14, 1999 )". Evidence on record shows that the administrative claim for refund which was filed with the Respondent's Bureau on March 27, 1998 and the instant petition for review which was filed with this Court on March 31, 1998 were within the two-year prescriptive period commencing on April 22, 1996, the date when the gross receipts tax for the first quarter of 1996 was paid, hence, there is no doubt as to the timeliness of the instant petition. SIaHDA To substantiate its allegations that there was indeed overpayment of GRT for the taxable year 1996 in the total amount P15,591,724.38, Petitioner engaged the services of Sycip Gorres Velayo & Co., an independent auditing firm, represented by Mr. Ruben Rubio, one of its partners, and duly commissioned by the Court, pursuant to CTA Circular No. 1-95 as amended by CTA Circular No. 10-97. In his report dated February 16, 1999 (Exh. G), Mr. Rubio informed the Court that out of the total amount of P311,834,487.60, alleged by Petitioner to be the 20% final tax on its passive income which have been included in its gross receipts for the year 1996 (Exhs. E & F), only the amount of P216,492,600.18 was verified to have been included in the gross receipts for the year 1996 (Exhs. G & G-1). He said that the difference of P4,767,094.38 was not verified for failure of the Petitioner to submit the supporting documents relative to its investments in debts and other debt securities (TSN, dated February 17, 1999, p. 24). Thus, Mr. Rubio recommended to the Court the refund of the amount of P10,824,630.00 allegedly representing Petitioner's overpaid GRT for the year 1996. A detailed review and verification of the aforesaid report of Mr. Rubio, together with the evidence presented, discloses that not all of Petitioner's interest income from Treasury Bills (Exh. G-2), Floating Rate Treasury Notes (Exh. G-3), Fixed Rate Treasury Notes (Exh. G-4) and Interbank Loans (Exh. G-5) were properly substantiated. Petitioner failed to submit the Certificate of Final Tax Withheld corresponding to the income mentioned, therefore an obvious non-compliance of requisite No. 3 abovestated which provide "that the withholding agent certifies that the 20% final withholding tax was paid on such passive income". The Court has no other recourse but to disallow the income allegedly subjected to 20% FWT without the corresponding certificates of final tax withheld, tabulated below: 1. TREASURY BILLS (a) Court's Disallowances of Income from Sale FINAL TRADING INTEREST TOTAL W/HOLDING PERIOD EXHIBIT GAIN INCOME (Net of 20%) TAX January G-3-a-1 P(583,007.86) P4,980,115.38 P4,397,107.52 P1,099,276.88 February G-3-a-2 1,785,345.12 3,841,470.84 5,626,815.96 1,406,703.99 March G-3-a-3 346,028.25 3,266,846.46 3,612,874.71 903,218.68 April G-3-a-4 716,544.42 3,159,744.87 3,876,289.29 969,072.32 May G-3-a-5 577,255.46 2,813,086.27 3,390,341.73 847,585.43 June G-3-a-6 (338,944.92) 3,043,471.58 2,704,526.66 676,131.67 July G-3-a-7 569,236.04 3,430,250.89 3,999,486.93 999,871.73 August G-3-a-8 1,587,244.45 4,814,973.38 6,402,217.83 1,600,554.46 September G-3-a-9 (201,493.68) 3,707,322.19 3,505,828.51 876,457.13 October G-3-a-10 211,566.04 3,287,226.20 3,498,792.24 874,698.06 November G-3-a-11 897,862.60 3,674,593.46 4,572,456.06 1,143,114.02 December G-3-a-12 1,758,833.87 29,162,465.13 30,921,299.00 7,730,324.75 Total P7,326,469.79 P69,181,566.65 P76,508,036.44 P19,127,009.11 ============ ============= ============ ============ (b) Court's Disallowances of Income from Monthly Accruals INTEREST FINAL INCOME WITHHOLDING PERIOD EXHIBIT (Net of 20%) TAX January G-2-b-1 P2,734,195.27 P683,548.82 February G-2-b-1 9,383,450.99 2,345,862.7S March G-2-b 1 11,456,229.65 2,864,057.41 April G-2-b-2 4,884,443.23 1,221,110.81 May G-2-b-2 4,085,076.94 1,021,269.24 June G-2-b-2 9,240,450.39 2,310,112.60 July G-2-b-3 9,485,784.27 2,371,446.07 August G-2-b-3 6,444,525.36 1,611,131.34 September G-2-b-3 7,883,644.21 1,970,911.05 October G-2-b-4 10,119,763.40 2,529,940.85 November G-2-b-4 10,119,763.40 2,529,940.85 December G-2-b-4 15,266,819.50 3,816,704.88 Total P101,104,146.61 P25,276,036.65 ============== ============== (See Annex A) 2. FLOATING RATE TREASURY NOTES (a) C FINAL TRADING INTEREST TOTAL WITHHOLDING PERIOD EXHIBIT GAIN INCOME (Net of 20%) TAX October G-2-a-10 P12,471.92 P449,678.36 P462,150.28 P115,537.57 November G-2-a-11 70,293.85 1,061,097.17 1,131,391.02 282,847.76 December G-2-a-12 (341,535.39) 2,867,856.75 2,526,321.36 631,580.34 Total (P258,769.62) P4,378,632.28 P4,119,862.66 P1,029,965.67 ============ ============ ============ ============ ourt's Disallowances of Income from Sale (b) Court's Disallowances of Interest Income from Monthly Accruals INTEREST FINAL INCOME WITHHOLDING PERIOD EXHIBIT (Net of 20%} TAX October G-3-b-2-35 to 43 P1,143,943.96 P285,985.99 November G-3-b-2-44 to 50 1,395,745.41 348,936.35 December G-3-b-2-51 to 56 1,649,552.99 412,388.25 Total P4,189,242.36 P1,047,310.59 ============ ============ (See Annex B) 3. FIXED RATE TREASURY NOTES (a) Court's Disallowances of Income from Sale FINAL PERIOD EXHIBIT INTEREST INCOME W/HOLDING TAX May G-4-a-5 P48,368.51 P12,092.13 June G-4-a-6 47,249.46 11,812.37 July G-4-a-7 465,418.33 116,354.58 August G-4-a-8 2,705,644.74 676,411.19 September G-4-a-9 4,084,375.43 1,021,093.86 October G-4-a-10 2,744,322.15 686,080.54 November G-4-a-11 1,342,537.40 335,634.35 December G-4-a-12 8,789,377.70 2,197,344.43 Total P20,227,293.72 P5,056,823.43 ============== ============ (b) Court's Disallowances of Interest Income from Monthly Accruals FINAL WITHHOLDING PERIOD EXHIBIT DISCOUNT COUPON TOTAL TAX January G-4-b-1 P378,388.93 84,352.73 P462,741.66 115,685.42 February 551,239.70 116,766.28 668,005.98 167,001.50 March 53,791.43 124,925.57 178,717.00 44,679.25 April 14,458.88 59,288.27 73,747.15 18,436.79 May 36,381.67 149,182.09 185,563.76 46,390.94 June 1,086,530.87 2,406,971.93 3,493,502.80 873,375.70 July 2,898,643.05 5,150,610.83 8,049,253.88 2,012,313.47 August 2,271,697.40 5,938,297.06 8,209,994.46 2,052,498.62 September 2,034,315.90 4,366,407.52 6,400,723.42 1,600,180.86 October 5,937,498.13 11,222,362.29 17,159,860.42 4,289,965.11 November 14,679,994.26 21,922,002.22 36,601,996.48 9,150,499.12 December 14,621,776.05 29,784,178.90 44,405,954.95 11,101,488.74 Total P44,564,716.27 P81,325,345.69 P125,890,061.96 P31,472,515.49 ============== ============= ============== ============= (See Annexes C & D) Likewise, the Court disallowed the amount of P4,324,131.99 pertaining to the gross receipts tax on Interbank Loans (Exh. G-5) for the same reasons aforestated, that is, the failure to present in evidence the Certificates of Final Tax Withheld on the said income. In sum, after consideration of the above-mentioned disallowances, the Court finds that Petitioner is entitled to the relief sought, but only in the amount of P2,350,014.96, computed as follows: FLOATING FIXED GOVERNMENT RATE RATE INTERBANK SECURITIES TREASURY TREASURY LOANS TOTAL PER SGV VERIFICATION Final withholding tax P45,777,572.68 P32,573,698.69 P51,658,689.05 P86,482,639.76 P216,492,600.18 Gross receipts tax (FWT x 5%) 2,288,878.63 1,628,684.93 2,582,934.45 4,324,131.99 10,824,630.01 LESS: COURT'S DISALLOWANCE Final withholding tax 44,403,045.76 2,077,276.26 36,529,338.92 86,482,639.76 169,492,300.70 Gross receipts tax (FWT x 5%) 2,220,152.29 103,863.81 1,826,466.95 4,324,131.99 8,474,615.04 AMOUNT REFUNDABLE Final withholding tax P1,374,526.92 P30,496,422.43 P15,129,350.13 - P47,000,299.48 Gross receipts tax (FWT x 5%) 68,726.34 1,524,821.12 756,467.50 - P2,350,014.96 ============ ============= ============= ============ ============= IN THE LIGHT OF ALL THE FOREGOING, the instant Petition for Review is partially GRANTED. Respondent is hereby ORDERED to REFUND or ISSUE A TAX CREDIT CERTIFICATE to herein Petitioner the amount of P2,350,014.96 representing its proven overpaid GRT for the four quarters of 1996. SO ORDERED. (SGD.) RAMON O. DE VEYRA Associate Judge I CONCUR: (SGD.) ERNESTO D. ACOSTA Presiding Judge Separate Opinions My esteemed colleagues granted the claim for refund in the reduced amount of P2,350,014.96. I humbly disagree with the aforementioned ruling primarily because this is based on this Court's decision in the case of Asian Bank Corporation vs . Commissioner of Internal Revenue , CTA Case No. 4720 promulgated on January 30, 1996 . The decision in the Asian Bank case which established a precedent for cases having a similar issue, has as its legal basis Section 4(e) of Revenue Regulations No. 12-80 dated November 7, 1980 which states, thus: "Section 4. . . . (e) Gross receipts tax on banks, non-bank financial intermediaries, financing companies, and other non-bank financial intermediaries not performing quasi-banking activities . The rates of taxes to be imposed on the gross receipts of such financial institutions shall be based on all items of income actually received. Mere accrual shall not be considered, but once payment is received on such accrual or in cases of overpayment then the amount actually received shall be included in the tax base of such financial institutions, as provided hereunder." (Emphasis supplied) Note that in the Asian Bank case, said bank was being assessed for deficiency gross receipts tax of 5% for taxable year 1986 which at that time the aforequoted Section 4(e) of Revenue Regulations No. 12-80 had already been amended, superseded and omitted in the amendatory Revenue Regulations No. 17-84 dated October 12, 1984. In other words, the citation of Section 4(e) of Revenue Regulations No. 12-80 by Petitioner's counsel was erroneous in the sense that it misled this Court to adopt Petitioner's legal basis. The legal basis that should have been cited is Section 8(c) of Revenue Regulations 12-80 which became Section 7(c) of Revenue Regulations No. 17-84 which provides. thus: "Section 8. . . . (c) If the recipient of the above-mentioned items of income are financial institutions, the same shall be included as part of the tax base upon which the gross receipts tax is imposed." Petitioner's counsel purposely did not cite said section because certainly it won't be able to get a refund or tax credit for the alleged overpaid gross receipts tax for obvious reasons. Section 4(e) of Revenue Regulations No. 12-80, as worded, is not a computation which is determinative of the amount to be used as basis of the 5% gross receipts tax. Rather, said Section is reflective of the method of accounting being adopted by the taxpayer, such as the cash receipts and disbursement method or the accrual method of accounting. Said methods of accounting comprise a set of rules for determining when and how to report income and deduction ( Consolidated Mines, Inc . vs . Court of Tax Appeals, L-18843, August 29, 1974 ). Thus, under the cash receipts and disbursements method,. income earned by the taxpayer is not included in gross income until received and expenses are not deducted until paid within the taxable year. And in the case of the accrual method, income is included in gross income when earned, whether received or not, and expenses are allowed as deductions when incurred although not paid (BIR Ruling No. 35-98, April 13, 1998). STaIHc The 5% gross receipts tax under Section 120 of the Tax Code is collectible from all finance companies doing business in the Philippines from interests, discounts and all other items treated as gross income under the Tax Code. Accordingly, its income derived from investing the excess funds in short-term market placements through commercial banks constitute income, hence, subject to the 5% gross receipts tax under said section. The fact that it has been subjected to the 20% final withholding tax under Section 50(a) is immaterial. Besides, the withholding tax is imposed under Title II of the Tax Code while the finance tax is provided under Title V thereof (BIR Ruling No. 223, November 2, 1989). The fact that the same income is subjected to two (2) different kinds of taxes would not make such payments a case of double taxation. By quoting a superseded revenue regulation, Petitioner in the Asian Bank case, led this Court to believe that indeed the basis of the gross receipts tax is total gross receipts exclusive of the 20% final withholding tax deducted and withheld under Section 50(a) of the Tax Code Section 7(c) of Revenue Regulations No. 17-84 clearly and categorically provides that the basis of such tax is inclusive of the final withholding tax. Section 2.57 of Revenue Regulations No. 2-98 implementing Republic Act No. 8424 also provides that the bases of the 5% gross receipts tax includes the 20% final withholding income tax deducted at source, to wit: Sec. 2.57. Withholding of Tax at Source (A) Final Withholding Tax . Under the final withholding tax system the amount of income tax withheld by the withholding agent is constituted as a full and final payment of the income tax due from the payee on the said income. The liability for payment of the tax rests primarily on the payor as a withholding agent. Thus, in case of his failure to withhold the tax or in case of under withholding, the deficiency tax shall be collected from the payor/withholding agent. The payee is not required to file an income tax return for the particular income. The finality of the withholding tax is limited only to the payee's income tax liability on the particular income. It does not extend to the payee's other tax liability on said income, such as when the said income is further subject to a percentage tax. For example, if a bank receives income subject to final withholding tax, the same shall be subject to a percentage tax. The High Court's decision in the case of Commissioner of Internal Revenue vs. The Manila Jockey Club, Inc ., 108 Phils . 821, June 30, 1960 , which was reaffirmed by the said Court in the case of Visayan-Cebu Terminal Co ., Inc . vs . Commissioner of Internal Revenue , 13 SCRA 357, February 27, 1965 cannot be considered as precedent cases, hence, inapplicable to the two cases decided by this Honorable Court in the cases of Compania Maritima vs . Acting Commissioner of Internal Revenue , CTA Case No . 1426 dated November 14, 1966 and Asian Bank Corporation vs . Commissioner of Internal Revenue , CTA Case No . 4720 dated January 30, 1996 , for the following reasons: In the Manila Jockey Club, Inc. case, the Club was authorized to operate horse races in which betting was made through the sale of tickets to the public. The total amount of bets called "wager fund" were distributed pursuant to Executive Order No. 320 and Republic Act No. 309, as follows: 87% as dividends to holders of winning tickets 12 as "commissions" of the Manila Jockey Club, of which % was assigned to the Board on Races and 5% was distributed as prizes for owners of winning horses and authorized bonus for jockeys. According to the above-mentioned distribution of the "wager fund", the then Collector of Internal Revenue assessed the Club on the whole amount of its "commission" of 12. But since the Club had already paid the amusement tax based on its 7% share of the "commission", the amount assessable pertains only to the 5% for the period from November 1946 to October 1950. On various instances, the Club protested the proposed assessments and was sustained by the opinions of the Secretary of Justice rendered on three different occasions (Opinion No. 345, series of 1941; Opinion No. 249, series of 1952 and Opinion No. 340 series of 1955). Notwithstanding the opinions of the Secretary of Justice to the effect that the amount corresponding to the 5% was held only by the Club in trust for the owners of winning horses and authorized bonuses of jockeys, the then Collector of Internal Revenue demanded payment of amusement taxes for the period November 1946 to October 1950. Said demand letter was timely appealed to the Court of Appeals wherein a unanimous judgment was obtained reversing the Collector's stand on the matter. In the High Court, the position of the Secretary of Justice was sustained thereby upholding the Court of Tax Appeals' decision. DcTAIH Accordingly, gross receipts of the proprietor of the amusement place should not include any money which, although delivered to the amusement place was " especially earmarked " by law or legal rule and regulations for some persons other than the proprietor. Undeniably, they are money received by the racing club but they are money earmarked by law or regulations for winning horse owners and jockeys and never for a minute become the property of the race track. The same is true in the case of the % which the law directs the club to deliver to the Board on Races. The High Court therefore agrees with the stand of the Court of Tax Appeals that such funds representing 5% of the 12% "commissions" of the race track do not form part of the gross receipts, hence not subject to the amusement tax of 20%. The above-mentioned decision of the High Court was also applied in the case of Visayan Cebu Terminal Co ., Inc . vs . Commissioner of Internal Revenue, 13 SCRA 357, Nos . L-19530 and L-19444, February 27, 1965 . The legal issue involved in this case is the interpretation of the management contract entered into by and between the Bureau of Customs and Visayan Cebu Terminal Co., Inc. whereby the latter as contractor was appointed the sole manager of the Arrastre Service at the Port of Cebu City. In the said Management Contract, it was further agreed and understood that in consideration of the rights and privileges granted the Contractor for the management of the Arrastre Service, the Bureau of Customs shall receive twenty eight (28%) percent of the total monthly gross income derived from whatever source in connection with the operations of the Arrastre Service, payable within ten (10) days of the succeeding month. The main legal issue involved in this case is whether or not the gross receipts corresponding to the 28% of the total gross income of the Service Contractor delivered to the Bureau of Customs within ten (10) days of the following month should form part of the gross receipts subject to 3% contractor's tax under Section 191 of the Tax Code. The Court of Tax Appeals ruled in favor of the petitioner, holding the view that the said 28% payment by the Arrastre Contractor based on its monthly gross income should not form part of the gross receipts subject to 3% contractors tax and that paragraph 23 of the said Management Contract can legally be construed as a " regulation ". As the learned trial court has aptly observed: ". . . the government could not have intended to consider as gross receipts the 28% that went to one of its institutions, the Bureau of Customs, and thereby collect percentage tax on it from petitioner. To hold petitioner liable for the payment of percentage tax is unquestionably unjust and not contemplated by Section 191 of the Tax Code." All the above-mentioned decisions of the High Court made specific reference to gross receipts which are especially " earmarked by law or legal rule or regulation " as not forming part of the taxable gross receipts for purposes of the gross receipts tax under the Tax Code. For this purpose, it is pertinent to define the word "earmark" as a mark put upon a thing to distinguish it from another. Originally and literally, a mark upon the ear, a mode of marking sheep and other animals. Property is said to be earmarked when it can be identified or distinguished from other property of the same nature. To set apart from others (Black's Law Dictionary, 6th Edition, p. 508). In the case of the Manila Jockey Club, Inc. Executive Order No. 320 and Republic Act No. 309 made the specific "earmarking" for distribution of the total wager fund to different persons other than the proprietor. The same is true in the case of Visayan Cebu Terminal Co., Inc. where the specific earmarking of the 28% of the total monthly gross income to be delivered to the Bureau of Customs by the Contractor was provided in paragraph 23 of the Management Contract. Such specific earmarking of the twenty percent (20%) final income tax as not includible in the gross receipts for purposes of the gross receipts tax was not provided by any law or legal rule or regulation, hence the non-applicability of the above-cited High Court decisions to the Asian Bank Corporation case. This legal observation is also in point in the case of Compaia Maritima case where the non-inclusion of the 10% reserve from the total cash collection to avoid claim for refund on freight and passengers tickets not taken is not provided by any law or legal rule or regulation. In the Asian Bank Corporation case, petitioner bank alleges that subjecting the gross receipts to the 20% final withholding income tax and later to the 5% gross receipts tax is not only oppressive and obnoxious but even a confiscatory form of double taxation. Double taxation has been defined "as the taxing of the same item or piece of property twice to the same person, or taxing it as the property of one person and again as the property of another, but this does not include the imposition of different taxes concurrently on the same property or income (e.g. federal and state income taxes), nor the taxation of the same piece of property to different persons when they hold different interests in it or when it represents different values in their hands, as when both the mortgagor and mortgagee of property are taxed in respect to their interests in it, or when a tax is laid upon the profits of the corporation and also upon the dividends paid to its stockholders" (Black's Law Dictionary, 6th Edition, p. 491). This acceptable form of double taxation is reflected in BIR Ruling No. 223 dated November 2, 1989, thus: "The 5% gross receipts tax under Section 120 of the Tax Code is collectible on all finance companies doing business in the Philippines from interests, discounts, and all other items treated as gross income under the Tax Code. Accordingly, your income derived from investing the excess funds in short-term market placements through commercial banks constitutes income hence, subject to the 5% gross receipts tax under said Section. The fact that it has been subjected to the 20% final withholding income tax under Section 50(a) is immaterial. Besides, the withholding tax is imposed under Title II of the Tax Code while the finance tax is provided under Title V thereof." (BIR Ruling No. 223, November 2, 1989) For as long as the basis for the claim for refund or tax credit certificate is based on the non-inclusion of the amount representing the final withholding income tax under Section 50(a) as part of the gross income subject to gross receipts tax, this dissenting opinion will stand. For purposes of the amusement tax under Section 260 of the Tax Code, the term gross receipts' embraces all the receipts' of the proprietor, lessee, or operator of the amusement place. The words all the receipts' refer to the total amount of cash received which becomes part of the funds of the taxpayer and does not include any money which has been specially earmarked by any law or legal rule or regulation for some other person other than the proprietor, lessee or operator of the amusement place. Receipts means actually received ( Philippine Long Distance Telephone Co . vs . Collector of Internal Revenue , G . R . No . L-3222 , January 21, 1952 ) for itself and not for others, for otherwise they would not be receipts ( Manila Jockey Club, Inc . vs . Collector of Internal Revenue, CTA Case No . 205, April 15, 1958 ; Jai Alai Corporation of the Philippines vs . Araneta, CTA Case No . 108, July 31, 1956 [ Annotated, NIRC by Commissioner Jose Araas, 1988 Edition, p . 687 ). AIcECS WHEREFORE, in view of the foregoing, I hereby register my dissent to the majority opinion and vote for the denial of the claim for refund for lack of legal basis. (SGD.) AMANCIO Q. SAGA Associate Judge ANNEX A Treasury Bills Court's Disallowances of Income from Sale PURCHASE TRADING INTEREST TOTAL PERIOD EXHIBIT DATE GAIN INCOME (Net of 20%} January G-2-a-1 Prior to Apr. '96 P(583,007.86) P4,980,115.38 P4,397,107.52 February G-2-a-2 Prior to Apr. '96 P(1,785,345.12) P3,841,470.84 P2,056,125.72 March G-2-a-3 Prior to Apr. '96 346,028.25 P3,266,846.46 P3,612,874.71 April G-2-a-4 3/18/96 886.35 5,583.53 6,469.88 4/1/96 177.44 - 177.44 21.70 - 21.70 599.21 - 599.21 752.51 - 752.51 572.32 - 572.32 729.33 - 729.33 763.60 - 763.60 2/14/96 252.84 - 252.84 12/11/96 2.95 7,127.11 7,130.06 2/5/96 0.56 2,728.58 2,729.14 3/18/96 0.08 2,703.85 2,703.93 2/27/96 0.75 2,696.50 2,697.25 9/18/96 - 11,059.97 11,059.97 3/29/96 - 11,532.82 11,532.82 1/29/96 - 1,178.08 1,178.08 3/13/96 - 484.07 484.07 3/19/96 724.90 595.75 1,320.65 3/8/96 526.44 234.43 760.87 3/20/96 1,383.15 2,237.91 3,621.06 3/27/96 5,759.30 11,052.95 16,812.25 3/22/96 395.06 2,166.68 2,561.74 3/14/96 11,807.90 12,403.72 24,211.62 4/2/96 72,405.96 - 72,405.96 717.01 - 717.01 3/29/96 18,166.85 20,701.23 38,868.08 4/1/96 5,644.98 7,046.03 12,691.01 4/2/96 3,059.26 - 3,059.26 334.01 - 334.01 3/14/96 (690.90) 19,352.28 18,661.38 4/2/96 825.91 - 825.91 121.80 - 121.80 49.71 - 49.71 3/25/96 160.71 22,355.44 22,516.15 3/21/96 42.73 12,918.86 12,961.59 3/29/96 - 11,818.31 11,818.31 3/20/96 567.91 114.44 682.35 2/9/96 - 7,335.57 7,335.57 3/18/96 2.75 6,798.37 6,801.12 2/8/96 1.27 7,705.43 7,706.70 4/1/96 - 2,439.81 2,439.81 3/25/96 0.04 1,104.51 1,104.55 3/20/96 2,149.21 2,578.99 4,728.20 3/4/96 295.31 4,312.83 4.608.14 3/14/96 1,472.27 1,786.62 3,258.89 3/27/96 1,290.82 2,570.53 3,861.35 4/1/96 963.06 1,090.38 2,053.44 12/21/95 1,311.63 852.06 2,163.69 4/2/96 1,235.45 1,549.53 2,784.98 822.99 2,287.53 3,110.52 3/15/96 2,208.33 38,527.59 40,735.92 3/29/96 (8.94) 17,330.02 17,321.08 3/15/96 7,579.99 5,159.16 12,739.15 3/18/96 1,283.93 723.84 2,007.77 2/29/96 - 12,239.05 12,239.05 3/18/96 598.87 337.62 936.49 4,814.73 2,714.41 7,529.14 3/8/96 50,621.37 11,776.58 62,397.95 3/29/96 181.02 7,456.68 7,637.70 3/18/96 166.44 93.83 260.27 2/26/96 (1,765.92) 6,192.86 4,426.94 3/28/96 - 9,749.55 9,749.55 3/14/96 - 8,184.98 8,184.98 3/20/96 - 7,431.98 7,431.98 2/14/96 - 14,635.70 14,635.70 3/18/96 1,007.53 568.01 1,575.54 3/1/96 164.98 2,237.63 2,402.61 3/18/96 472.56 266.41 738.97 723.70 408.00 1,131.70 1/29/96 - 8,406.24 8,406.24 2/29/96 256.46 3,126.18 3,382.64 3/20/96 2,252.95 1,952.10 4,205.05 3/18/96 4,458.08 2,513.33 6,971.41 8/28/96 795.65 3,192.68 3,988.33 2/12/96 4,496.99 3,124.49 7,621.48 2/28/96 - 8,529.28 8,529.28 3/4/96 0 7,244.65 7,244.65 3/25/96 0 9,524.61 9,524.61 0 9,454.55 9,454.55 4/1/96 0 3,007.76 3,007.76 2/19/96 5.9 7,775.12 7,781.02 1/29/96 0 1,926.85 1,926.85 2/2/96 0.6 4,854.71 4,855.31 1/29/96 0.16 7,431.87 7,432.03 2/5/96 1.12 6,121.06 6,122.18 2/9/96 1.31 3,981.58 3,982.89 0.89 4,991.97 4,992.86 2/6/96 1.73 5,435.10 5,436.83 2/14/96 0.05 1,259.31 1,259.36 6/18/96 0.13 588.33 588.46 4/1/96 802.35 0 802.35 4/8/96 375.62 0 375.62 3/19/96 289.71 326.99 616.70 4/8/96 92.46 7,094.85 7,187.31 3/13/96 1,069.19 8,721.05 9,790.24 2/16/96 53.64 6,862.70 6,916.34 3/13/96 1,658.33 5,528.96 7,187.29 3/18/96 1,964.89 8,892.98 10,857.87 200.28 906.44 1,106.72 62.55 283,09 345.64 3/19/96 434.36 1,750.40 2,184.76 12/13/95 - 4,553.88 4,553.88 4/8/96 6,559.70 5,480.98 12,040.68 11,048.45 7,809.51 18,857.96 3/29/96 32,093.48 - 32,093.48 3/8/96 662.34 9,009.20 9,671.54 4/8/96 - 10,583.38 10,583.38 3/15/96 - 4,626.62 4,626.62 4/8/96 - 8,372.37 8,372.37 2/9/96 1.40 21,525.93 21,527.33 12/21/95 1,009.435 52,346.54 53,355.97 424.94 1,244.09 1,669.03 4/11/96 23,832.90 13,618.23 37,451.13 4/15/96 85.27 197,835.05 197,920.32 57.20 - 57.20 4/11/96 - 42,660.86 42,660.86 - 2,134.17 2,134.17 4/15/96 16,217.39 2,322.60 18,539.99 4/12/96 54.98 19,936.31 19,991.29 4/11/96 1,421.27 2,570.31 3,991.58 1,421.27 2,570.31 3,991.58 1,283.06 2,320.36 3,603.42 4/12/96 412.97 490.20 903.17 1/26/96 3,400.90 16,092.17 19,493.07 4/16/96 (1,974.61) - (1,974.61) 373.88 - 373.88 1.48 - 1.48 4/11/96 0.01 11,285.76 11,285.77 2/28/96 0.04 24,365.55 24,365.59 4/11/96 0.23 3,412.63 3,412.86 2/12/96 - 12,779.43 12,779.43 11/22/9 196.39 525.97 722.36 3/27/96 40.16 831.22 871.38 4/12/96 173.00 69,929.38 70,102.38 4/15/96 5,391.15 1,776.47 7,167.62 4/11/96 7,826.72 7,783.21 15,609.93 4/12/96 314.72 478.35 793.07 115.49 175.54 291.03 176.13 267.70 443.83 250.24 380.34 630.58 525.49 798.72 1,324.21 268.53 408.13 676.66 3,346.42 5,086.31 8,432.73 4/2/96 7,082.38 80,325.77 87,408.1S 19,870.89 13,884.25 33,755.14 4/11/96 28.27 5,464.88 5,493.15 142.02 2,165.33 2,307.35 21.58 1,528.58 1,550.16 4/16/96 35.25 14,374.78 14,410.03 0.06 2,263.55 2,263.61 2/5/96 0.55 28,591.51 28,592.06 4/16/96 - 24,776.36 24,776.36 4/8/96 - 13,135.74 13,135.74 11/1/95 - 2,781.71 2,781.71 2/20/96 5,815.00 97,931.83 103,746.83 4/18/96 66.33 - 66.33 745.32 - 745.32 4/11/96 25,371.48 94,611.17 119,982.6s 9/25/96 482.45 5,875.61 6,358.06 4/15/96 232.56 1,119.05 1,351.61 3/4/96 (34.10) 35,274.38 35,240.28 3/29/96 8,687.58 41,264.03 49,951.61 4/12/96 2,202.04 4,259.90 6,461.94 2/2/96 - 27,538.19 27,538.19 3/4/96 0.69 25,495.05 25,495.74 3/12/96 0.21 8,816.97 8,817.18 2/12/96 - 9,498.68 9,498.68 4/2/96 1,212.21 3,342.87 4,555.08 4/19/96 553.05 - 553.05 (308.60) - (308.60) 3/29/96 2,661.52 13,451.40 16,112.92 3/13/96 0.46 26,065.19 26,065.65 4/19/96 2,977.91 - 2,977.91 4/18/96 0.32 818.22 818.54 4/11/96 - 148,666.96 148,666.96 4/16/96 - 59,514.29 59,514.29 4/18/96 - 8,249.07 8,249.07 4/12/96 - 25,057.60 25,057.60 4/18/96 - 2,715.24 2,715.24 3/27/96 - 48,468.52 48,468.52 3/11/96 - 45,142.70 45,142.70 4/8/96 - 15,555.00 15,555.00 3/5/96 - 15,085.69 15,085.69 3/4/96 - 6,357.05 6,357.06 4/22/96 22,601.54 - 22,601.54 4,503.30 - 4,503.30 3/27/96 2,861.46 17,494.87 20,356.33 4/22/96 173.45 - 173.45 632.54 - 632.54 4/11/96 11,512.27 19,083.93 30,596.20 2/26/96 - 5,099.83 5,099.83 4/11/96 731.69 10,041.20 10,772.89 4/15/96 567.16 1,604.21 2,171.37 4/22/96 5,849.50 - 5,849.50 4/23/96 365.65 - 365.65 4/22/96 10,912.23 11,906.32 22,818.55 4/23/96 26.02 3,658.05 3,684.07 4/22/96 5,849.50 - 5,849.50 4/23/96 365.65 - 365.65 4/22/96 10,912.23 11,906.32 22,818.55 4/23/96 26.02 3,658.05 3,684.07 4/15/96 1,006.71 6,453.38 7,460.09 3/15/96 4,891.45 29,590.31 34,481.76 2/21/96 514.88 22,541.59 23,056.47 4/8/96 1,257.51 5,199.13 6,456.64 4/23/96 300.72 - 300.72 320.46 - 320.46 9,418.34 - 9,418.34 4/19/96 3,097.00 11,856.30 14,953.30 4/23/96 628.81 - 628.81 618.20 - 618.20 622.00 - 622.00 3/6/96 28.39 842.76 871.15 4/23/96 710.90 - 710.90 2,548.51 - 2,548.51 1,101.70 - 1,101.70 3/6/96 253.36 7,522.48 7,775.84 4/23/96 1,871.56 - 1,871.56 9,160.64 - 9,160.64 2/26/96 739.25 10,669.90 11,409.15 170.75 10,620.22 10,790.97 3/13/96 0.17 32,947.83 32,948.00 4/18/96 - 7,888.81 7,888.81 4/15/96 0.07 2,400.20 2,400.27 4/22/96 0.06 251.23 251.29 2/8/96 - 7,354.28 7,354.28 3/8/96 797.31 4,378.94 5,176.25 3/5/96 2,159.40 1,440.24 3,599.64 4/22/96 474.36 316.37 790.73 3/8/96 136.23 674.07 810.30 326.95 1,617.76 1,944.71 1/26/96 1,673.39 13,644.14 15,317.53 3/4/96 703.91 20,310.31 21,014.22 3/6/96 430.76 13,670.44 14,101.20 4/1/96 148.84 1,031.55 1,180.39 2/9/96 3,970.05 30,048.68 34,018.73 3/29/96 5,580.19 48,793.41 54,373.60 2/14/96 664.14 32,944.73 33,608.87 2/21/96 4,211.58 34,251.89 38,463.47 2/12/96 - 17,674.53 17,674.53 4/25/96 8,109.69 - 8,109.69 2/12/96 - 17,674.53 17,674.53 4/25/96 8,109.69 - 8,109.69 36,993.61 - 36,993.61 795.88 - 795.88 4/15/96 828.60 17,481.20 18,309.80 4/25/96 810.44 - 810.44 4/22/96 1,406.37 15,598.29 17,004.66 2/26/96 - 8,738.23 8,738.23 3/18/96 342.38 2,197.54 2,539.92 4/23/96 729.47 4,593.01 5,322.48 1/11/96 64.61 1,105.60 1,170.21 4/8/96 134.75 25,689.85 25,824.60 55.12 838.57 893.69 4/26/96 97.56 - 97.56 471.62 - 471.62 415.86 - 415.86 547.34 - 547.34 600.08 - 600.08 633.96 - 633.96 4/22/96 799.85 5,801.28 6,601.13 4/25/96 923.53 454.23 1,377.76 4/22/96 - 17,026.84 17,026.84 4/19/96 - 40,834.94 40,834.94 4/22/96 - 16,484.00 16,484.00 - 10,045.32 10,045.32 4/23/96 - 7,959.69 7,959.69 4/19/96 - 17,506.61 17,506.61 4/10/96 - 32,152.35 32,152.35 4/22/96 - 12,245.68 12,245.68 4/18/96 - 20,617.27 20,617.27 3/21/96 - 17,257.34 17,257.34 2/12/96 - 12,414.41 12,414.41 3/19/96 338.21 2,530.37 2,868.58 4/26/96 6,016.76 19,389.41 25,406.17 47.07 627.57 674.64 4/25/96 82.64 321.19 403.83 103.87 403.68 507.55 155.66 604.99 760.65 1,416.52 5,505.36 6,921.88 4/29/96 436.51 - 436.51 10/27/96 1,726.99 32,077.70 33,804.69 4/1/96 1,390.33 23,154.18 24,544.51 4/29/96 442.20 288.76 730.96 1,686.19 1,101.05 2,787.24 332.40 1,289.61 1,622.01 4/30/96 75,535.95 - 75,535.95 913.04 - 913.04 171.60 - 171.60 221.50 - 221.50 2,215.20 - 2,215.20 483.45 - 483.45 372.24 - 372.24 2,064.34 - 2,064.34 4/1/96 52.33 37,889.60 37,941.93 4/30/96 135.91 - 135.91 327.86 - 327.86 4/29/96 9.85 7,509.98 7,519.83 4/23/96 6.53 71,349.50 71,356.03 4/29/96 9.33 7,907.45 7,916.78 4/30/96 1.21 - 1.21 4/26/96 - 23,804.66 23,804.66 4/30/96 0.53 - 0.53 4/19/96 2.36 41,068.09 41,070.45 4/25/96 1.20 16,938.03 16,939.23 4/29/96 49.69 49,733.15 49,782.84 4/30/96 2.04 - 2.04 4/22/96 2.49 19,116.80 19,119.29 0.28 1,825.97 1,826.25 Subtotal P716,544.42 P3,159,744.87 P3,876,289.29 May G-3-a-5 4/29/96 35,867.46 29,219.65 65,087.11 1/30/96 261.88 147.65 409.53 1/2/96 0.55 3,206.76 3,207.31 4/29/96 257.39 8,096.50 8,353.89 2/28/96 206.78 217.35 424.13 3/27/96 2.58 3,273.29 3,275.87 4/29/96 2.76 3,597.03 3,599.79 4/23/96 0.82 2,582.08 2,582.90 3/8/96 0.16 2,234.80 2,234.96 2/9/96 0.99 2,560.80 2,561.79 5/3/96 926.59 - 926.59 988.64 - 988.64 (203.45) 376.05 172.60 716.47 - 716.47 4/29/96 690.05 1,307.16 1,997.21 4/25/96 - 2,471.76 2,471.76 4/29/96 41.51 499.90 541.41 112.63 1,356.59 1,469.22 477.60 389.24 866.84 5,548.09 38,923.21 44,471.30 183.91 2,215.19 2,399.10 5/3/96 5,636.69 6,665.82 12,302.51 1/11/96 - 2,573.81 2,573.81 2/21/96 (147.81) 206.85 59.04 2/21/96 (289.84) 393.03 103.19 4/29/96 4.82 239.93 244.75 15.78 785.22 801.00 4.91 244.29 249.20 28.24 1,404.68 1,432.92 21.75 1,081.87 1,103.62 5/7/96 300.50 - 300.50 2/21/96 (343.92) 620.57 276.65 4/29/96 0.14 11,907.54 11,907.68 426.63 20,660.47 21,087.10 42.58 2,493.78 2,536.36 14.13 827.17 841.30 16.64 974.44 991.08 27.20 1,592.98 1,620.18 5/3/96 3,277.16 9,794.11 13,071.27 4.80 29,340.27 29,345.07 4/25/96 3,761.63 8,516.20 12,277.83 4/26/96 2,785.71 6,032.81 8,818.52 5/10/96 967.66 - 967.66 4/30/96 (4,106.19) 6,268.35 2,162.16 4/1/96 6,292.30 6,289.22 2,581.52 5/10/96 336.70 - 336.70 5/3/96 1.64 99,002.93 99,004.57 5/10/96 1,337.16 - 1,337.16 5.54 - 5.54 624.12 - 624.12 4/26/96 2,365.23 5,122.21 7,487.44 4/16/96 201.08 545.84 746.92 5/10/96 248.82 - 248.82 132.95 - 132.95 132.95 - 132.95 67.13 - 67.13 12.82 - 12.82 42.77 - 42.77 728.68 - 728.68 16.74 - 16.74 29.85 - 29.85 99.53 - 99.53 914.41 - 914.41 194.11 - 194.11 113.50 - 113.50 (1,181.28) 1,858.11 676.83 5/7/96 155.63 1,700.50 1,856.13 5/3/96 856.02 2,279.61 3,135.63 856.02 2,279.61 3,135.63 856.02 2,279.60 3,135.62 856.02 2,279.61 3,135.63 856.02 2,279.60 3,135.62 856.02 2,279.61 3,135.63 856.02 2,279.60 3,135.62 856.02 2,279.61 3,135.63 856.02 2,279.60 3,135.62 856.02 2,279.61 3,135.63 856.02 2,279.60 3,135.62 856.02 2,279.61 3,135.63 5/12/96 57.20 40.72 97.92 1.08 2,394.92 2,396.00 4/30/96 - 5,521.52 5,521.52 - 3,984.90 3,984.90 4/19/96 1,447.62 4,310.00 5,757.62 2/28/96 116.54 813.85 930.39 1/24/96 732.51 2,649.61 3,382.12 4/30/96 4,969.70 72,784.21 77,753.91 5/13/96 14,961.31 11,205.51 26,166.82 989.58 2,630.00 3,619.58 579.96 566.33 1,146.29 5/7/96 9,270.76 19,213.33 28,484.09 5/3/96 2,156.07 6,438.18 8,594.25 5/2/96 - 15,976.61 15,976.61 4/19/96 696.73 3,954.40 4,651.13 5/9/96 4,742.66 16,704.27 21,446.93 2/19/96 34,364.07 126,711.44 161,075.51 5/13/96 567.94 406.02 973.96 291.74 208.57 500.31 257.07 183.77 440.84 2,964.07 2,118.99 5,083.06 1/29/96 21,581.11 46,290.41 67,871.52 1/29/96 46,357.03 92,209.05 138,566.08 5/16/96 1,636.09 1,361.44 2,997.53 5/17/96 6,870.82 - 6,870.82 321.65 - 321.65 5/13/96 668.90 23,396.17 24,065.07 5/17/96 552.14 - 552.14 30,225.75 - 30,225.75 2/8/96 - 7,148.01 7,148.01 5/13/96 - 107,497.27 107,497.27 5/17/96 1.66 - 1.66 5,464.75 4,517.93 9,982.68 5/20/96 (178.04) - (178.04) 5/17/96 67.20 133.81 201.01 41.89 83.43 125.32 5/17/96 813.46 1,619.77 2,433.23 326.46 650.06 976.52 817.19 1,627.21 2,444.40 5/13/96 1,123.82 2,983.41 4,107.23 480.28 1,275.01 1,755.29 771.80 2,048.92 2,820.72 5/20/96 92.56 - 92.56 5/16/96 157.85 13,230.79 13,388.64 5/3/96 5.88 134,350.33 134,356.21 5/20/96 2.74 - 2.74 1/29/96 30,627.27 80,147.70 110,774.97 2/9/96 68,917.17 172,093.02 241,010.19 12/7/96 33,904.83 79,794.44 113,699.27 1/29/96 105,130.48 245,179.52 350,310.00 1/10/96 2,360.36 5,618.28 7,978.64 5/21/96 612.75 - 612.75 5/17/96 2,037.28 5,508.19 7,545.47 519.91 1,405.59 1,925.60 5/9/96 84.92 338.64 423.56 3,242.48 12,930.74 16,173.22 793.92 3,166.11 3,960.03 5/20/96 16,718.36 26,877.67 43,596.03 5/17/96 (11,317,40) 54,921.37 43,603.97 5/20/96 877.00 5,837.63 6,714.63 5/21/96 520.42 - 520.42 5/17/96 1,075.89 6,770.58 7,846.47 2,533.35 15,942.48 18,475.83 5/3/96 3.80 127,296.91 127,300.71 5/20/96 5,843.75 13,442.59 19,286.34 5/21/96 816.62 3,886.03 4,702.65 3/14/96 786.68 6,809.37 7,596.05 5/20/96 45.02 58.07 103.09 5/21/96 490.54 5,476.23 5,966.77 5/20/96 3,866.63 4,988.28 8,854.91 11/22/95 693.44 1,040.39 1,733.83 5/17/96 25,846.14 36,258.08 62,104.22 5/14/96 0.80 11,809.79 11,810.59 5/21/96 0.30 1,492.87 1,493.17 5/3/96 1.77 23,042.96 23,044.73 5/13/96 2.56 12,516.12 12,518.68 5/17/96 3.82 19,005.29 19,009.11 1.68 14,936.09 14,937.77 5/21/96 0.80 1,957.32 1,958.12 4/3/96 0.99 22,474.39 22,475.38 4/30/96 1.30 19,639.19 19,640.49 5/17/96 133.95 563.81 697.76 1,824.68 7,679.95 9,504.63 5/20/96 0.59 2,597.35 2,597.94 2/27/96 0.64 19,880.28 19,880.92 3/8/96 1.57 18,785.48 18,787.05 5/14/96 2.02 8,312.58 8,314.60 5/17/96 - 5,415.99 5,415.99 4/29/96 0.39 17,761.57 17,761.96 5/15/96 5.88 19,024.58 19,030.46 4/30/96 0.74 14,617.76 14,618.50 5/10/96 0.15 7,516.00 7,516.15 5/24/96 472.76 - 472.76 5/24/96 2,248.71 - 2,248.71 1,623.55 - 1,623.55 919.08 - 919.08 283.03 - 283.03 169.50 - 169.50 317.24 - 317.24 272.15 - 272.15 349.90 - 349.90 461.88 - 461.88 8,248.37 - 8,248.37 4,851.99 - 4,851.99 5/20/96 19.15 124,402.93 124,422.08 5/17/96 0.11 34,828.84 34,828.95 5/23/96 9.57 11,723.00 11,732.57 5/21/96 7.54 11,873.04 11,880.58 5/7/96 9.74 75,979.21 75,988.95 2/29/96 693.55 5,940.26 6,633.81 5/13/96 913.48 12,050.55 12,964.03 5/27/96 0.80 - 0.80 2.06 - 2.06 0.25 - 0.25 5/7/96 - 29,204.95 29,204.95 5/17/96 0.03 13,250.64 13,250.67 5/24/96 0.24 4,180.10 4,180.34 3/19/96 0.38 37,381.85 37,382.23 4/30/96 1.04 32,583.81 32,584.85 5/7/96 0.64 25,945.19 25,945.83 5/3/96 1.09 28,553.98 28,555.07 5/28/96 969.31 - 969.31 5/13/96 1,049.86 4,184.48 5,234.34 2,331.17 9,291.48 11,622.65 1,283.40 5,115.31 6,398.71 654.73 2,609.59 3,264.32 4/23/96 0.17 25,035.36 25,035.53 5/13/96 1,309.30 6,207.17 7,516.47 450.00 1,773.48 2,223.48 112.50 443.37 555.87 675.00 2,660.21 3,335.21 231.77 997.58 1,229.35 237.95 1,024.19 1,262.14 5/27/96 951.10 266.30 1,217.40 1,248.57 349.59 1,598.16 5/13/96 310.06 1,334.54 1,644.60 5/27/96 706.23 197.75 903.98 615.18 172.25 787.43 817.54 228.90 1,046.44 2/2/96 616.71 2,577.02 3,193.73 5/13/96 190.08 805.77 995.85 605.81 2,568.12 3,173.93 819.23 3,472.85 4,292.08 738.08 3,128.87 3,866.95 4,560.80 19,333.95 23,894.75 2/26/96 185.01 1,246.69 1,431.70 364.88 2,816.19 3,181.07 5/27/96 1,995.19 1,205.30 3,200.49 1,914.49 1,156.54 3,071.03 381.03 230.17 611.20 193.33 116.79 310.12 703.85 425.20 1,129.05 4,936.37 2,982.08 7,918.45 5/31/96 (54,844.15) - (54,844.15) Subtotal P577,255.46 P2,813,086.27 P3,390,341.73 June G-3-a-6 4/2/96 719.53 521.47 1,241.00 5/31/96 549.00 2,314.07 2,863.07 5/30/96 10,763.44 10,680.31 21,443.75 5/20/96 9,553.55 6,798.59 16,352.14 5/27/96 915.51 546.67 1,462.18 3.19 13,383.92 13,387.11 5/16/96 0.49 4,307.83 4,308.32 5/30/96 4,695.62 4,006.25 8,701.87 5/31/96 2,681.55 2,522.52 5,204.07 394.47 1,135.71 1,530.18 187.89 540.94 728.83 6/3/96 12,131.34 2,984.79 15,116.13 5/13/196 187.03 185.07 372.10 8,312.71 8,225.43 16,538.14 6/3/96 88.65 80,542.77 80,631.42 12.99 75,688.66 75,701.65 5/27/96 783.56 44,683.66 45,467.22 5/30/96 473.06 18,468.16 18,941.22 4/12/96 578.98 448.39 1,027.37 6/6/96 822.29 12,889.18 13,711.47 5/31/96 9,382.76 15,445.75 24,828.51 2,997.56 5,344.76 8,342.32 754.52 1,029.45 1,783.97 - 82,269.61 82,269.61 5/21/96 573.54 5,973.22 6,546.76 5/10/96 983.51 11,907.55 12,891.06 6/10/96 100.43 - 100.43 42,009.05 - 42,009.05 4/15/96 106.01 1,467.69 1,573.70 6/10/96 989.65 - 989.65 6/3/96 22.57 134,088.79 134,111.36 6/6/96 636.62 37,765.07 38,401.69 6/10/96 1,048.13 - 1,048.13 5/31/96 4,531.39 7,609.91 12,141.30 859.48 12,310.06 13,169.54 222.74 3,409.14 3,631.88 2,255.68 3,933.27 6,188.95 11,052.62 19,272.63 30,325.25 4/22/96 151.37 1,158.15 1,309.52 6/4/96 488.68 12,692.74 13,181.42 5/31/96 1,143.58 5,728.83 6,872.41 3/19/96 338.28 1,194.19 1,532.47 5/17/96 499.96 18,574.69 19,074.65 5/31/96 4,800.98 17,934.63 22,735.61 4/11/96 2,704.20 5,243.53 7,947.73 6/10/96 239.71 2,158.26 2,397.97 891.89 6,966.75 7,858.64 5/27/96 321.28 26,253.45 26,574.73 860.23 2,999.90 3,860.13 162.25 565.82 728.07 117.36 409.23 526.59 5/31/96 0.63 148,247.14 148,247.77 1.42 129,557.47 129,558.89 0.03 33,795.87 33,795.90 5/30/96 915.43 46,442.95 47,358.38 5/27/96 958.70 1,777.90 2,736.60 5/31/96 - 41,916.67 41,916.67 6/14/96 628.96 - 628.96 6/10/96 698.49 15,969.81 16,668.30 4/29/96 - 9,212.63 9,212.63 6/17/96 2,716.19 - 2,716.19 6/18/96 987.82 - 987.82 5/24/96 378.84 21,104.45 21,483.29 6/10/96 78.58 299.23 377.81 165.55 630.43 795.98 5/14/96 212.28 955.50 1,167.78 6/3/96 536.56 1,586.78 2,123.34 5/14/96 554.29 2,494.89 3,049.18 4/2/96 467.70 1,166.50 1,63420 5/31/96 70.18 786.78 856.96 6/17/96 19,182.58 5,479.33 24,661.91 6/6/96 11,773.31 23,976.82 35,750.13 6/17/96 2173.17 620.75 2,793.92 5/31/96 0.03 53,453.57 53,453.60 6/20/96 (54.20) - (54.20) 5/30/96 385.86 9,729.92 10,115.78 6/10/96 297.14 26,074.59 26,371.73 1,100.40 3,901.42 5,001.82 6/20/96 27.06 - 27.06 810.08 - 810.08 3/6/96 0.10 28,277.74 28,277.84 6/10/96 408.26 12,806.47 13,214.73 943.68 12,853.62 13,797.30 175.50 12,831.61 13,007.11 439.50 28,847.56 29,287.06 690.27 6,371.80 7,062.07 6/21/96 511.85 - 511.85 2,103.90 - 2,103.90 5/31/96 275.45 989.64 1,265.09 288.96 1,038.22 1,327.18 15,125.92 54,345.35 69,471.27 6/14/96 6,578.19 11,581.66 18,159.85 6/10/96 152.86 955.61 1,108.47 6/13/96 131.81 516.46 648.27 5/21/96 1,912.04 6,918.01 8,830.05 505.39 1,828.58 2,333.97 393.94 1,425.32 1,819.26 2,990.08 10,818.51 13,808.59 6/14/96 0.01 60,255.28 60,255.29 6/24/96 0.43 - 0.43 6/25/96 3,907.79 - 3,907.79 5/31/96 300.90 14,689.20 14.990.10 6/20/96 481.39 596.89 1,078.28 6/24/96 37.45 6,326.03 6,363.48 994.06 4,321.18 5,315.24 6/25/96 8.96 - 8.96 4.89 - 4.89 6/10/96 4,141.55 60,419.09 64,560.64 6/25/96 (369,392.88) - (369,392.88) 6/13/96 (83,965.47) 502,963.32 418,997.85 6/20/96 (127,734.31) 59,518.48 (68,215.83) 6/24/96 (17,393.20) 11,517.17 (5,876.03) 4,269.08 2,836.79 7,105.87 5/31/96 4.39 56,130.46 56,134.85 3/15/96 2,207.18 17,330.05 19,537.23 4/23/96 336.34 1,199.22 1,535.56 4/29/96 614.04 2,251.70 2,865.74 6/20/96 2,022.07 5,431.90 7,453.97 5/30/96 777.67 6,566.19 7,343.86 182.63 1,542.00 1,724.63 342.96 2,895.78 3,238.74 2,215.19 26,445.68 28,660.87 1,180.74 17,055.49 18,236.23 96.02 7,754.47 7,850.49 6/6/96 275.24 1,695.20 1,970.44 345.42 2,127.42 2,472.84 626.13 3,856.30 4,48243 231.49 1,425.77 1,657.26 1,023.51 6,303.681 7,327.19 96.61 595.00 691.61 6/10/96 1,433.57 5,824.34 7,257.91 6/20/96 475.15 714.81 1,189.96 1,590.48 2,392.70 3,983.18 6/10/96 (23,299.68) 409,253.28 385,953.60 8,744.69 93,479.52 102,224.21 8,744.69 93,479.52 102,224.21 6/25/96 258.24 368.11 626.35 6/28/96 2,964.92 - 2,964.92 988.36 - 988.36 988.49 - 988.49 988.30 - 988.30 5/31/96 1,013.06 8,906.62 9,919.68 152.04 1,336.79 1,488.83 6/6/96 308.34 3,486.40 3,794.74 258.28 2,920.39 3,178.67 115.02 1,300.63 1,415.65 762.05 8,616.66 9,378.71 251.36 2,842.11 3,093.47 64.97 734.61 799.58 77.22 873.11 950.33 71.89 812.89 884.78 6/10/96 543.50 4,178.07 4,721.57 344.52 2,648.42 2,992.94 860.33 6,613.63 7,473.96 72.77 559.38 632.15 75.35 579.19 654.54 75.35 579.19 654.54 97.88 752.45 850.33 Subtotal P(338,944.92) P3,043,471.58 P2,704,526.66 July G-2-a-7 6/28/96 2.06 2,269.40 2,271.46 6/27/96 1.10 3,185.47 3,186.57 0.48 2,748.04 2,748.52 5/31/96 2,124.68 777.01 2,901.69 5/27/96 169.54 140.60 310.14 4/15/96 124.77 84.13 208.90 7/3/96 (7,225.53) - (7,225.53) 5/30/96 5,543,70 2,441.08 7,984.78 6/27/96 1,914.23 376.47 2,290.70 1,914.23 376.47 2,290.70 5/31/96 522.90 828.65 1,351.55 6/27/96 0.16 4,906.54 4,906.70 7/1/96 0.27 4,290.48 4,290.75 6/27/96 0.25 6,109.11 6,109.36 - 70,263.07 70,263.07 6/10/96 16.76 59,079.91 59,096.67 5/30/96 4,082.36 4,509.14 8,591.50 254.54 281.14 535.68 6/28/96 - 116,432.87 116,432.87 5/30/96 511.52 565.00 1,076.52 126.65 139.89 266.54 7/2/96 2,958.19 5,692.21 8,650.40 7/8/96 978.63 - 978.63 6/18/96 938.86 10,937.31 11,876.17 7/8/96 677.87 - 677.87 4,480.32 8,090.31 12.570.63 6/27/96 6.29 38,609.44 38,615.73 5/31/96 - 34,252.07 34,252.07 6/10/96 1,333.35 3,675.21 5,008.56 7/1/96 239.97 867.93 1,107.90 2/21/96 (1.53) 1,352.49 1,350.96 6/27/96 3.96 26,157.13 26,161.09 7/1/96 188.65 820.98 1,009.63 6/20/96 242.61 615.36 857.97 4/2/96 212.10 420.59 632.69 6/6/96 390.58 812.26 1,202.84 541.45 1,126.01 1,667.46 411.73 856.24 1,267.97 6/10/96 28,474.76 100,126.41 128,601.17 7/12/96 976.96 - 976.96 6/10/96 18,983.17 66,750.95 85,734.12 7/12/96 982.10 - 982.10 6/10/96 18,983.17 66,750.95 85,734.12 7/12/96 982.10 - 982.10 6/4/96 191.59 373.18 564.77 1,783.82 3,474.42 5,258.24 568.19 1,106.66 1,674.85 966.24 1,881.97 2,848.21 520.29 1,013.37 1,533.66 7/15/96 949.51 - 949.51 6/14/96 120.12 486.53 606.65 7/2/96 0.01 641.02 641.03 6/7/96 188.75 585.11 773.86 410.45 1,272.39 1,682.84 7/15/96 858.73 1.552.10 2,410.83 1/30/96 0.24 808.22 808.46 7/12/96 15,554.14 6,772.80 22,326.94 7/15/96 463.45 273.82 737.27 147.68 87.26 234.94 354.63 209.53 564.16 112.70 66.59 179.29 1,299.97 768.08 2,068.05 117.56 69.46 187.02 167.11 98.73 265 84 7/12/96 451.27 378.81 830.08 376.06 315.68 691.74 197.65 165.91 363.56 7/16/96 0.79 2,850.76 2,851.55 6/27/96 0.30 29,868.95 29,869.25 5/30/96 - 32,585.82 32,585.82 7/16/96 - 2,290.03 2,290.03 7/12/96 - 8,238.98 8,238.98 3/25/96 - 28,215.80 28,215.80 7/12/96 1.24 7,206.97 7,208.21 5/31/96 2.93 26,057.58 26,060.51 - 34,105.06 34,105.06 7/15/96 - 11,494.81 11,494.81 7/15/96 27,992.95 76,133.74 104,126.69 7/16/96 23,957.86 13,848.31 37,806.17 7/15/96 0.08 7,051.16 7,051.24 6/27/96 4.28 37,829.47 37,833.75 0.13 79,591.92 79,592.05 7/15/96 - 7,281.94 7,281.94 7/18/96 1.31 - 1.31 7/19/96 926.74 - 926.74 926.74 - 926.74 249.59 - 249.59 5/27/96 23,462.42 98,645.04 122,107.46 6/25/96 1,813.86 6,026.31 7,840.17 2/12/96 7,077.61 10,836.94 17,914.55 6/13/96 88.48 768.91 857.39 7/19/96 393.80 - 393.80 1,379.68 - 1,379.68 978.74 - 978.74 7/15/96 16.95 49,763.23 49,780.18 7/12/96 427.78 15,450.34 15,878.12 7/19/96 984.12 - 984.12 7/12/96 15,042.70 20,182.94 35,225.64 7/11/96 4,950.68 16,226.00 21,176.68 6/3/96 6,072.85 19,056.81 25,129.66 6/14/96 1,963.50 9,257.65 11,221.15 926.05 4,366.22 5,292.27 7/12/96 16,540.45 163,330.00 179,870.45 7/19/96 4,905.17 4,245.26 9,150.43 0.27 361.68 361.95 981.35 1,264.98 2,246.33 2/12/96 7,833.90 15,225.55 23,059.45 7/18/96 313.86 985.29 1,299.15 54.80 172.01 226.81 6/7/96 5,955.18 23,342.47 29,297.65 6/3/96 8,931.44 30,523.74 39,455.18 6/10/96 512.40 23,293.87 23,806.27 7/22/96 145.01 54.74 199.75 6/13/96 7,946.80 70,430.85 78,377.65 3/11/96 166.85 4,055.07 4,221.92 7/22/96 725.04 273.69 998.73 2/21/96 186.00 12,432.13 12,618.13 6/18/96 494.08 1,921.01 2,415.09 7/22/96 145.01 54.74 199.75 348.02 131.37 479.39 906.48 366.19 1,272.67 7/12/96 58,178.77 52,734.44 110,913.21 7/1/96 913.62 8,299.00 9,212.62 418.95 3,805.62 4,224.57 287.00 2,606.95 2,893.95 7/19/96 1,814.72 833.98 2,648.70 627.24 288.25 915.49 6/27/96 - 361,330.67 361,330.67 7/22/96 - 11,536.73 11,536.73 7,365.82 4,517.08 11,882.90 7/12/96 18,961.82 26,731.00 45,692.82 7/11/96 10,626.82 18,167.28 28,794.10 5/30/96 11,580.99 26,785.98 38,366.97 7/16/96 7,349.07 7,944.86 15,293.93 6/14/96 14,963.74 35,751.13 50,714.87 2/14/96 3,757.38 9,592.49 13,349.87 7/1/96 155.46 1,517.79 1,673.25 6/13/96 22,642.49 249,435.79 272,078.28 7/1/96 185.57 1,811.78 1,997.35 5/30/96 197.23 861.06 1,058.29 7/11/96 27,814.88 152,186.42 180,001.30 7/25/96 332.47 - 332.47 101.33 - 101.33 7/16/96 28,596.50 85,336.60 113,933.10 6/27/96 1.05 52,336.44 52,337.49 7/25/96 3,807.94 4,460.34 8,268.28 7/23/96 1,033.39 3,955.01 4,988.40 7/1/96 998.79 10,472.02 11,470.81 76.78 804.99 881.77 7/26/96 986.03 - 986.03 5/20/96 619.93 7,754.02 8,373.95 7/18/96 387.45 27,258.72 27,646.17 7/1/96 1,915.54 7,707.29 9,622.83 272.88 1,097.92 1,370.80 7/19/96 375.98 3,694.39 4,070.37 7/22/96 331.43 46,722.90 47,054.33 7/18/96 58.85 343,726.78 343.785.63 11.63 67,922.06 67,933.69 7/26/96 0.30 - 0.30 7/1/96 523.11 2,314.84 2,837.95 432.86 1,915.44 2,348.30 2,024.30 8,957.77 10,982.07 466.01 2,062.16 2,528.17 7/29/96 1.48 - 1.48 13.07 - 13.07 353.26 - 353.26 39.15 - 39.15 7/30/96 15,295.31 - 15,295.31 15,764.60 - 15,764.60 7/29/96 - 25,430.91 25,430.91 1/26/96 3,141.44 7,304.81 10,446.25 6/25/96 493.95 3,644.06 4,138.01 138.35 1,020.70 1,159.05 747.59 5,515.34 6,262.93 1,041.29 7,682.08 8,723.37 978.18 7,216.51 8,194.69 582.54 4,297.67 4,880.21 208.74 1,540.00 1,748.74 7/26/96 1,657.18 984.87 2,642.05 778.34 462.57 1,240.91 1,199.06 712.61 1,911.67 7/30/96 - 31,384.48 31,384.48 Subtotal P569,236.04 P3,430,250.89 P3,999,486.93 August G-2-a-8 7/26/96 10,023.31 1,461.05 11,484.36 2,010.13 278.30 2,288.43 7/30/96 469.42 886.28 1,355.70 1,087.15 130.80 1,217.95 7/26/96 462.62 55.66 518.28 1/30/96 505.10 133.73 638.83 7/22/96 472.67 7,364.20 7,836.87 578.87 5,664.70 6,243.57 7/30/96 5,949.88 7,421.71 13,371.59 251.22 290.66 541.88 251.22 290.66 541.88 1,239.39 522.98 1,762.37 129.78 377.93 507.71 628.04 726.66 1,354.70 8/1/96 90.68 - 90.68 7/29/96 854.22 11,194.49 12,048.71 7/30/96 11,183.70 2,287.23 13,470.93 8/2/96 987.91 - 987.91 6/13/96 148.78 74.57 223.35 7/26/96 2,037.08 495.51 2,532.59 - 4,042.68 4,042.68 1/29/96 - 907.79 907.79 7/30/96 - 61,114.99 61,114.99 7/29/96 8.98 14,169.77 14,178.75 7/25/96 261.17 10,251.30 10,512.47 - 4,448.23 4,448.23 47,844.97 11,685.28 59,530.25 11,023.00 10,193.34 21,216.34 5/27/96 1,349.36 7,751.45 9,100.81 8/1/96 12,536.70 117,426.78 129,963.48 7/22/96 5,826.53 11,886.30 17,712.83 8/1/96 381.00 36,383.59 36,764.59 7/30/96 427.59 341.46 769.04 427.59 341.46 769.05 8/5/96 556.02 3,340.27 3,896.29 68,579.28 19,613.87 88,193.15 7/30/96 1,686.27 1,943.80 3,630.07 1/19/96 445.21 395.44 840.65 5/31/96 4,050.16 2,847.95 6,898.11 7/30/96 3,431.81 3,965.36 7,397.17 4,457.82 4,022.12 8,479.94 6/25/96 4,318.30 5,396.93 9,715.23 2/2/96 976.51 826.51 1,803.02 8,494.83 7,821.35 16,316.18 6,285.08 5,248.15 11,533.23 170,171.55 88,344.68 258,516.23 6/24/96 33,158.23 16,851.68 50,009.91 7/1/96 646.26 1,586.21 2,232.47 7/15/96 559.30 62,550.69 63,109.99 8/1/96 27,266.06 47,338.85 74,604.91 92,696.66 87,009.50 179,706.16 7/30/96 34,170.52 36,917.01 71,087.53 7/15/96 1,160.63 3,060.10 4,220.73 8/5/96 144.11 1,196.64 1,340.75 20,199.23 23,080.16 43,279.39 5,326.71 21,542.20 26,868.91 7/30/96 312.55 657.39 969.94 7/16/96 2,415.62 9,033.17 11,448.79 5/31/96 1,386.48 3,739.44 5,125.92 6/25/96 3,115.21 5,677.32 8,792.53 261.58 476.72 738.30 5/24/96 764.78 738.47 1,503.25 6/3/96 0.31 10,191.86 10,192.17 8/13/96 - 114.94 114.94 7/30/96 0.02 3,282.82 3,282.84 8/9/96 - 121,663.03 121,663.03 1/29/96 1,265.47 2,261.79 3,527.26 36,470.26 48,320.36 84,790.62 82,616.44 193,053.93 275,670.37 7/29/96 212.35 497.01 709.36 618.13 1,446.75 2,064.88 9/20/96 141.59 2,245.83 2,387.42 8/15/96 0.65 3,711.72 3,712.37 8/16/96 0.25 - 0.25 8/6/96 - 21,906.39 21,906.39 8/16/96 0.35 - 0.35 8/15/96 0.01 687.39 687.40 8/1/96 435.95 522,013.66 522,449.61 86,926.56 231,852.94 318,779.50 8/8/96 - 4,824.82 4,824.82 7/1/96 543.14 33,072.97 33,616.11 8/13/96 - 1,123.00 1,123.00 5/31/96 0.72 13,021.70 13,022.42 7/1/96 2.33 43,225.27 43,227.60 7/11/96 - 26,224.14 26,224.14 8/20/96 2,816.17 5,888.73 8,704.90 2/12/96 934.46 1,838.78 2,773.24 3,396.06 112,846.57 116,242.63 414.34 235,954.28 236,368.62 7/30/96 1,224.20 6,032.54 7,256.74 68.09 8,959.75 9,027.84 45.39 5,973.17 6,018.56 483.84 11,346.65 11,830.49 15,129.69 242,139.96 257,269.65 8/15/96 11,411.69 52,402.67 63,814.36 12,925.03 59,351.94 72,276.97 7/30/96 1,039.38 5,967.23 7,006.61 8/15/96 177.33 193.50 370.83 8/15/96 1,222.34 1,333.77 2,556.11 8/1/96 17,390.12 74,217.01 91,607.13 0.51 14,025.46 14,025.97 0.55 24,856.07 24,856.62 0.08 8,206.53 8,206.61 8/15/96 282.75 665.51 948.26 565.51 1,331.01 1,896.52 161.34 379.75 541.09 670.95 1,579.16 2,250.11 343.46 808.38 1,151.84 2,673.38 6,292.24 8,965.62 7/29/96 2,354.76 19,021.76 21,376.52 7/30/96 73,050.65 421,768.20 494,818.85 - 260,750.14 260,750.14 - 188,816.70 188,816.70 7/18/96 - 6,866.11 6,866.11 8/1/96 - 57,067.48 57,067.48 8/5/96 - 12,695.18 12,695.18 8/19/96 0.16 2,130.56 2,130.72 35,629.25 119,146.91 154,776.16 8/15/96 678.73 1,037.22 1,715.95 1,209.93 38,095.20 39,305.13 - 134,958.89 134,958.89 9,542.48 31,917.93 41,460.41 546.10 1,173.67 1,719.77 256.82 551.93 808.75 183.02 393.34 576.36 460.50 989.68 1,450.18 8/20/96 7,013.46 14,391.10 21,404.56 7/18/96 771.09 2,579.16 3,350.25 376.44 1,259.12 1,635.56 2,104.81 7,040.23 9,145.04 8/26/96 10,123.68 1,517.86 11,641.54 7/22/96 415.00 2,437.09 2,852.09 735.05 4,316.68 5,051.73 172.24 1,011.46 1,183.70 1,436.19 8,434.25 9,870.44 - 15,111.07 15,111.07 0.07 12,520.72 12,520.79 - 7,588.60 7,588.60 7/8/96 0.08 8,106.77 8,106.85 7/9/96 0.21 20,565.80 20,566.01 8/26/96 69,181.93 20,873.06 90,054.99 79,246.19 23,909.58 103,155.77 22,342.93 - 22,342.93 8/22/96 267.28 567.44 834.72 439.53 933.11 1,372.64 299.21 635.21 934.42 1,686.84 3,581.13 5,267.97 6/27/96 2,949.61 8,178.46 11,128.07 15,153.27 57,481.17 72,634,44 370.67 6,446.21 6,816.88 292,839.13 44,158.63 336,997.76 10,549.08 40,819.75 51,368.83 8/26/96 23,946.70 140,106.08 164,052.78 8/29/96 2.46 - 2.46 7/22/96 1.11 24,175.92 24,177.03 7/8/96 0.02 25,110.82 25,110.84 2/14/96 0.19 12,112.65 12,112.84 8/29/96 888.05 2,290.97 3,179.02 8/30/96 9,846.18 - 9,846.18 8/27/96 4,090.53 4,303.01 8,393.54 8/30/96 289.29 - 289.29 7/12/96 304.67 1,455.31 1,759.98 366.66 1,751.45 2,118.11 1,075.20 5,135.87 6,211.07 4,926.06 23,530.25 28,456.31 8/30/96 13.82 - 13.82 11.10 - 11.10 Subtotal P1,587,244.45 P4,814,973.38 P6,402,217.83 September G-2-a-9 7/22/96 201.52 91.86 293.38 6/10/96 2,783.54 682.25 3,465.79 9/2/96 0.22 - 0.22 0.11 - 0.11 1.22 1.22 7/1/96 0.02 5,291.97 5,291.99 2/14/96 0.32 576.58 576.90 7/29/96 0.02 4,126.32 4,126.34 8/30/96 - 4,087.54 4,087.54 9/3/96 10,988.51 703.15 11,691.66 9/2/96 (904.22) 4,873.47 3,969.25 6/25/96 289.76 115.08 404.84 /19/96 0.05 2,058.30 2,058.35 9/3/96 - 9,465.78 9.465.78 - 6,339.50 6,339.50 9/5/96 5,005.41 - 5,005.41 4/1/96 0.24 1,475.30 1,475.54 9/5/96 18.08 - 18.08 6/17/96 6,913.26 8,747.68 15,660.94 8/15/96 195.68 197.98 393.66 224.35 226.99 451.34 831.60 841.41 1,673.01 9/2/96 3,627.82 8,481.96 12,109.78 9/6/96 0.92 - 0.92 9.43 - 19.43 5.21 - 5.21 0.16 - 0.16 3/13/96 1.03 3,675.31 3,676.34 5/31/96 36,091.97 21,524.38 57,616.35 8/30/96 216,669.16 109,653.16 326,322.32 7/30/96 34,889.85 25,143.06 60,032.91 7/12/96 80,732.36 40,004.52 120,736.88 9/9/96 123,050.88 - 123,050.88 8/30/96 - 357,754.41 357,754.41 9/3/96 39,795.22 137,389.03 177,184.25 9/9/96 1.84 - 1.84 0.82 - 0.82 8/30/96 17,472.77 7,675.05 25,147.82 9/9/96 5,452.58 7,816.10 13,268.68 9/10/96 60,782.38 - 60,782.38 9/3/96 5,394.10 24,814.65 30,208.75 3,979.16 18,544.52 22,523.68 9/10/96 28,687.61 - 28,687.61 41,525.57 - 41,525.57 8/30/96 4,791.95 5,191.78 9,983.73 9/3/96 207.88 142,971.20 143,179.08 9/6/96 - 4,588.97 4,588.97 6/27/96 - 12,195.85 2,195.85 9/2/96 0.94 8,638.10 8,639.04 2,390.65 11,068.72 13,459.37 9/9/96 9,606.67 1,488.93 11,095.60 8/30/96 33,463.73 16,055.38 49,519.11 9/9/96 27,141.33 4,530.61 31,671.94 1,063.99 177.61 1,241.60 5/7/96 1,870.69 1,638.38 3,509.07 8/29/96 24,272.46 22,191.68 46,464.14 9/3/96 26,754.29 11,253.75 38,008.04 4,863.20 2,045.62 6,908.82 2,429.36 1,021.88 3,451.24 562.68 236.69 799.37 8/30/96 31,790.09 15,438.87 47,228.96 9/2/96 490.67 104,028.33 104,519.00 700.08 115,128.05 115,828.13 387.24 22,573.56 22,960.80 683.94 11,285.68 11,969.62 1/17/96 819.65 621.82 1,441.47 9/6/96 2.34 23,677.62 23,679.96 9/10/96 - 1,534.49 1,534.49 9/9/96 - 2,123.42 2,123.42 9/6/96 - 5,475.12 5.475.12 9/10/96 0.91 1,117.11 1,118.02 9/12/96 561.97 - 561.97 1,569.10 - 1,569.10 9/6/96 8,038.46 11,833.83 19,872.29 7/29/96 0.01 6,122.44 6,122.45 9/6/96 - 4,493.65 4,493.65 0.92 9,608.22 9,609.14 8/30/96 15,551.02 17,574.38 33,125.40 9/2/96 655.94 100,025.50 100,681.44 8/30/96 9,566.46 105,372.78 114,939.24 23,259.27 89,351.79 112,611.06 2,149.36 3,353.67 5,503.03 271.03 422.89 693.92 4,564.16 16,655.00 21,219.16 534.98 834.75 1,369.73 2,231.84 3,482.38 5,714.22 9/3/96 7,619.14 87,459.24 95,078.38 9/6/96 305.28 470.97 776.25 9/9/96 2,938.67 28,512.79 31,451.46 9/9/96 510.36 787.34 1,297.70 224.88 346.93 571.81 2,596.88 61,218.45 63,815.33 360.04 555.45 915.49 7/15/96 154.35 775.09 929.44 2/6/96 0.27 5,383.50 5,383.77 8/29/96 44,599.66 69,541.36 114,141.02 5/20/96 4,476.35 6,630.21 11,106.56 9/9/96 0.44 4,965.04 4,965.48 9/16/96 0.15 - 0.15 4,596.50 - 4,596.50 9/6/96 1.08 14,513.01 14,514.09 6/14/96 0.74 841.68 842.42 9/6/96 - 11,329.39 11,329.39 9/16/96 0.18 - 0.18 8/30/96 0.12 23,289.80 23,289.92 - 9,728.71 9,728.71 9/6/96 1.16 12,142.57 12,143.73 9/13/96 - 3,254.97 3,254.97 9/6/96 0.03 7,160.76 7,160.79 8/30/96 0.03 10,241.98 10,242.01 9/9/96 0.04 4,652.64 4,652.68 7/26/96 0.24 5,003.55 5,003.79 9/6/96 - 1,805.54 1,805.54 9/9/96 4.49 43,611.07 43,615.56 8/29/96 2,228.22 2,536.40 4,764.62 878.89 1,000.34 1,879.23 1,911.69 2,176.10 4,087.79 2,124.10 2,417.88 4,541.98 574.75 654.26 1,229.01 907.95 1,033.53 1,941.48 1,840.88 2,095.50 3,936.38 1,345.26 1,531.32 2,876.58 5,201.95 5,921.43 11,123.38 20,348.36 36,159.46 56,507.82 42,945.52 76,798.20 119,743.72 9/10/96 389.76 2,306.50 2,696.26 9/17/96 970.30 5,016.00 5,986.30 9/6/96 4,940.56 12,754.54 17,695.10 9/2/96 135.98 504.63 640.61 1,067.60 3,962.19 5,029.79 22,101.93 82,027.36 104,129.29 9/17/96 15.81 2,834.17 2,849.98 9/17/96 179.37 73.61 252.98 164.91 67.69 232.60 128.80 52.87 181.67 629.57 258.39 887.96 495.96 203.54 699.50 9/19/96 12.82 - 12.82 9/9/96 - 6,440.53 6,440.53 9/10/96 35.89 11,104.15 11,140.04 778.97 8,244.15 9,023.12 9/17/96 506.48 344.47 850.95 477.19 324.55 801.74 441.40 300.21 741.61 198.47 134.98 333.45 9/20/96 2.87 - 2.87 168.63 - 168.63 9/23/96 2,178.16 - 2,178.16 1,672.59 - 1,672.59 557.94 - 557.94 9/19/96 424.38 84,278.41 84,702.79 9/20/96 (26,803.98) 21,158.83 (5,645.15) 9/6/96 193.48 525.24 718.72 1,372.11 3,724.84 5,096.9s 541.75 1,470.68 2,012.43 9/24/96 476.23 - 476.23 8/30/96 1,463.73 2,087.95 3,551.68 9/19/96 182.91 15,848.76 16,031.67 9/24/96 20,867.99 - 20,867.99 9/20/96 - 84,886.40 84,886.40 8/15/96 26,856.10 33,512.18 60,368.28 24,868.74 31,032.29 55,901.03 9/12/96 6,907.45 99,061.31 105,968.76 9/20/96 746.75 296.18 1,042.93 1,402.36 556.21 1,958.57 3,179.84 1,261.21 4,441.05 8/29/96 729.80 1,690.52 2,420.32 2/2/96 1,078.99 2,546.79 3,625.78 9/17/96 4,096.00 13,701.80 17,797.80 9/24/96 - 340.82 340.82 9/6/96 - 1,397.51 1,397.51 (78,513.85) 300,267.37 221,753.52 (65,100.65) 250,221.17 185,120.52 9/23/96 374.56 341.79 716.35 1.26 - 1.26 9/24/96 0.67 2,820.54 2,821.21 - 1,522.79 1,522.79 - 2,562.62 2,562.62 9/17/96 (8,071.36) 47,172.99 39,101.63 9/27/96 (1,585.62) - (1,585.62) (817.22) - (817.22) (24,622.70) - 24,622.70 9/24/96 - 2,111.31 2,111.31 9/27/96 (706.80) - (706.80) 9/30/96 (1,520.27) - (1,520.27) 9/27/96 (1,969.43) 8,511.43 6,552.00 (10,196.76) 6,575.67 (3,621.09) (661.81) 727.94 66.13 9/30/96 (22,395.65) - (22,395.65) (671,232.87) - (671,232.87) 9/20/96 (541,314.99) 267,463.73 (273,851.26) 9/30/96 0.37 - 0.37 0.78 - 0.78 4/1/96 0.50 2,444.07 2,444.57 9/3/96 2,429.36 1,021.88 3,451.24 3/22/96 718.86 802.47 1,521.33 9/17/96 164.91 67.69 232.60 Subtotal P(201,493.68) P3,707,322.19 P3,505,828.51 October G-2-a-10 8/30/96 231.90 4,137.74 4,369.64 9/26/96 - 2,351.45 2,351.45 9/27/96 0.08 2,092.99 2,093.07 - 4,464.67 4,464.67 10/1/96 0.02 - 0.02 9/30/96 0.03 1,950.53 1,950.56 9/27/96 - 1,815.88 1,815.88 9/17/96 627.87 7,920.47 8,548.34 9/26/96 1.13 2,576.34 2,577.47 9/30/96 1,152.61 10,684.18 11,836.79 9/20/96 44.88 11,567.77 11,612.65 7/15/96 0.08 2,548.22 2,548.30 9/20/96 0.14 2,679.83 2,679.97 9/26/96 0.41 3,202.25 3,202.66 9/27/96 0.59 2,019.90 2,020.49 1.09 2,950.78 2,951.87 10/1/96 1.07 1,921.53 1,922.60 9/24/96 925.52 181.42 1,106.94 21,838.76 4,280.76 26,119.52 5/20/96 3,165.23 1,137.91 4,303.14 6/27/96 0.19 927.94 928.13 9/16/96 4,892.01 3,348.44 8,240.46 5/31/96 - 11,276.08 11,276.08 10/3/96 901.14 9,273.74 10,174.88 9/6/96 3,314.41 32,957.29 36,271.70 8/27/96 361.37 32,405.55 32,766.92 10/4/96 787.62 - 787.62 (162,640.52) - (162,640.52) 9/6/96 520.12 24,332.23 24,852.35 10/4/96 18.82 - 18.82 5/31/96 - 3,431.60 3,431.60 9/23/96 - 5,053.65 5,053.65 10/7/96 13,374.81 - 13,374.81 322.39 - 322.39 130.22 - 130.22 3,043.82 - 3,043.82 666.94 - 666.94 (987.29) - (987.29) 3/14/96 1,520.40 1,268.28 2,788.68 10/7/96 132.86 - 132.86 4.59 - 4.59 727.01 - 727.01 9/17/96 748.34 37,404.94 38,153.28 10/3/96 993.87 7,476.44 8,470.31 9/23/96 267.54 35,601.79 35,869.33 10/7/96 1,785.73 1,809.32 3,595.05 749.41 625.69 1,375.10 9/30/96 339.88 21,343.07 21,682.95 10/8/96 4,480.90 - 4,480.90 7,170.72 - 7,170.72 10.89 - 10.89 9/6/96 11,101.67 9,565.03 20,666.70 10/3/96 781.67 27,191.81 27,973.48 9/6/96 12,158.44 15,900.21 28,058.65 10/3/96 63.01 2,221.27 2,284.28 756.24 4,403.54 5,159.78 9/23/96 343.48 15,862.69 16,206.17 9/16/96 15,727.01 17,280.44 33,007.45 9/6/96 138.00 391.06 529.06 357.80 1,013.96 1,371.76 357.80 1,013.96 1,371.76 9/23/96 1,890.75 8,066.41 9,957.16 10/8/96 11,893.28 6,620.76 18,514.04 10/7/96 4,990.67 2,247.76 7,238.43 9/27/96 806.92 530.51 1,337.43 748.24 491.92 1,240.16 938.97 617.31 1,556.28 766.57 503.99 1,270.56 858.27 564.27 1,422.54 1,089.34 716.20 1,805.54 748.24 491.92 1,240.16 1,052.66 692.08 1,744.74 748.24 491.92 1,240.16 1,049.00 689.67 1,738.67 1,063.66 699.31 1,762.97 748.24 491.92 1,240.16 748.24 491.92 1,240.16 1,026.99 675.20 1,702.19 990.31 651.09 1,641.40 865.60 569.10 1,434.70 788.58 518.45 1,307.03 748.24 491.92 1,240.16 748.24 491.92 1,240.16 982.98 646.26 1,629.24 1,004.99 660.72 1,665,71 2,142.00 1,408.28 3,550.28 986.64 648.67 1,635.31 986.64 648.67 1,635.31 986.64 648.68 1,635.32 1,034.32 680.02 1,714.34 982.98 646.26 1,629.24 975.64 641.43 1,617.07 971.98 639.02 1,611.00 971.98 639.02 1,611.00 982.98 646.26 1,629.24 748.24 491.92 1,240.16 748.24 491.92 1,240.16 748.24 491.92 1,240.16 748.24 491.92 1,240.16 975.64 641.43 1,617.07 748.24 491.93 1,240.17 748.24 491.92 1,240.16 748.24 491.93 1,240.17 748.24 491.92 1,240.16 935.29 614.92 1,550.21 927.96 610.10 1,538.06 916.96 602.85 1,519.81 748.24 491.93 1,240.17 924.29 607.88 1,532.17 766.57 503.99 1,270.56 748.24 491.92 1,240.16 902.28 593.22 1,495.50 898.61 590.81 1,489.42 748.24 491.92 1,240.16 814.26 535.33 1,349.59 2,020.97 1,328.70 3,349.67 865.60 569.10 1,434.70 748.24 491.93 1,240.17 759.24 499.17 1,258.41 832.59 547.40 1,379.99 832.59 547.40 1,379.99 861.93 566.69 1,428.62 795.91 523.28 1,319.19 821.59 540.16 1,361.75 825.26 542.57 1,367.83 836.26 549.81 1,386.07 762.90 501.58 1,264.48 847.27 557.03 1,404.30 821.59 540.16 1,361.75 748.24 491.94 1,240.18 1/10/96 0.06 1,808.78 1,808.84 9/27/96 - 10,481.48 10,481.48 - 11,067.10 11,067.10 10/4/96 909.94 62,277.00 63,186.94 10/10/96 170,608.44 - 170,608.44 771.82 - 771.82 23,454.83 - 23,454.83 7,070.69 - 7,070.69 3,268.11 - 3.268.11 12/6/95 389.22 396.09 785.31 9/27/96 344.77 377.90 722.67 1,198.16 1,313.24 2,511.40 9/30/96 840.55 115,010.04 115,850.59 9/27/96 - 8,860.01 8.860.01 10/10/96 0.83 - 0.83 10/10/96 17.38 - 17.38 10/11/96 2,729.20 - 2,729.20 9/27/96 131.15 1,344.66 1,475.81 159.85 1,638.88 1,798.73 10/7/96 - 2,494.16 2,494.16 10/10/96 67,501.23 33,525.14 101,026.37 10/3/96 11,164.21 14,815.99 25,980.20 9/20/96 12,860.69 36,224.09 49,084.78 9/12/96 36,827.06 37,621.38 74,448.44 5/3/96 1,049.68 818.78 1,868.46 10/10/96 6.54 15,025.61 15,032.15 6/27/96 - 16,243.88 16,243.88 10/11/96 0.15 1,068.99 1,069.14 9/30/96 0.05 1,276.85 1,276.90 9/6/96 - 6,743.92 6,743.92 10/10/96 41.12 117,727.47 117,768.59 1/17/96 0.01 812.12 812.13 8/26/96 0.06 17,494.05 17,494.11 9/13/96 0.51 12,836.43 12,836.94 9/23/96 432.87 2,166.28 2,599.15 9/20/96 836.60 1,337.81 2,174.41 2/26/96 594.22 1,631.63 2,225.85 10/15/96 479.40 179.68 659.08 9/24/96 4.59 31,840.25 31,844.84 10/4/96 20,763.05 209,797.67 230,560.72 10/15/96 3,696.52 40,990.15 44,686.67 10/18/96 235.02 - 235.02 10/3/96 1,314.25 16,519.06 17,833.31 10/18/96 569.15 - 569.15 10/10/96 15,946.32 45,507.48 61,453.80 9/24/96 - 10,326.73 10,326.73 9/12/96 227.22 2,278.61 2,505.83 136.33 1,367.16 1,503.49 9/6/96 689.19 1,009.93 1,699.12 9/30/96 0.02 795.75 795.77 9/16/96 686.96 6,614.20 7,301.16 700.51 8,373.31 9,073.82 10/21/96 988.78 - 988.78 10/11/96 108.50 154,804.75 154,913.25 10/8/96 84.68 468.07 552.75 10/21/96 877.22 - 877.22 9/27/96 - 17,968.55 17,968.55 10/21/96 0.32 - 0.32 9/10/96 1,163.04 1,281.44 2,444.48 3,141.35 3,461.11 6,602.46 3,141.35 3,461.13 6,602.48 5/13/96 2,252.27 3,746.66 5,998.93 10/18/96 0.74 17,145.53 17,146.27 10/14/96 - 191,614.57 191,614.57 10/17/96 - 1,654.41 1,654.41 2/2/96 703.74 992.75 1,696.49 10/8/96 10,424.05 162,582.08 173,006.13 9/20/96 1,057.99 40,161.54 41,219.53 10/7/96 12,452.67 62,101.55 74,554.22 10/11/96 12,309.47 46,595.56 58,905.03 10/18/96 1.06 30,835.85 30,836.91 10/21/96 5,909.81 1,080.92 6,990.73 9/24/96 - 1,679.96 1,679.96 9/30/96 0.07 3,217.60 3,217.67 10/18/96 - 2,201.39 2,201.39 10/21/96 2,722.07 810.91 3,532.98 2,855.44 850.65 3,706.09 2/2/96 1,036.48 1,509.37 2,545.85 10/24/96 8,609.34 - 8,609.34 10/7/96 8,140.44 18,909.32 27,049.76 10/8/96 4,926.49 43,521.19 48,447.68 6/28/96 904.57 1,382.38 2,286.95 9/27/96 - 4,131.30 4,131.30 - 23,074.90 23,074.90 10/24/96 0.19 - 0.19 10/7/96 14.50 215,028.37 215,042.87 10/8/96 192.24 1,534.01 1,726.25 9/27/96 - 15,412.64 15,412.64 10/25/96 9.13 - 9.13 10/21/96 6,730.49 4,546.17 11,276.66 10/28/96 2,402.20 - 2,402.20 10/25/96 4,415.78 3,973.33 8,389.11 9/30/96 819.93 72,504.49 73,324.42 10/14/96 84.60 544.56 629.16 8/30/96 14,361.67 43,357.94 57,719.61 2/29/96 685.49 11,763.09 2,448.58 10/21/96 (356,118.87) 166,576.84 (189,542.03) 10/22/96 (195,344.50) 132,416.46 (62,928.04) 5/3/96 2,605.54 6,263.27 8,868.81 10/24/96 (21,301.37) 21,826.33 524.96 8/30/96 2,605.62 7,866.36 10,471.98 323.14 975.55 1,298.69 10/29/96 (1,717.90) - (1,.717.90) (1,719.70) - (1,719.70) 10/28/96 3.94 6,185.49 6,189.43 9/6/96 1.08 40,620.12 40,621.20 10/28/96 9.77 2,973.11 2,982.88 5/31/96 - 53,600.93 53,600.93 10/24/96 128,528.81 60,577.65 189,106.46 10/25/96 67,063.08 23,518.98 90,582.06 33,515.14 34,585.78 68,100.92 6/24/96 890.72 1,708.11 2,598.83 10/29/96 128.85 51.51 180.36 10/7/96 10,309.92 12,061.27 22,371.19 10/21/96 101.84 60,181.20 60,283.04 10/11/96 0.14 6,315.24 6,315.38 10/25/96 7,003.00 15,906.06 22,909.06 10/29/96 1,083.06 10,986.97 12,070.03 2/14/96 0.02 860.08 860.10 10/7/96 0.28 47,297.45 47,297.73 10/29/96 0.06 2,408.37 2,408.4A3 10/31/96 0.12 - 0.12 10/17/96 0.94 11,781.21 11,782.15 10/31/96 0.20 - 0.20 Subtotal P211,566.04 P3,287,226.20 P3,498,792.24 November G-2-a-11 10/31/96 14,070.93 44,842.84 58,913.77 11/4/96 1,974.97 - 1,974.97 6/10/96 1,123.50 477.21 1,600.71 11/4/96 4,911.03 - 4,911.03 1,384.47 - 1,384.47 10/14/96 560.49 16,570.16 17,130.65 10/21/96 1,841.61 635.40 2,477.01 10/4/96 - 102,345.44 102,345.44 11/4/96 1.61 - 1.61 9/6/96 - 539.48 539.48 10/31/96 - 31,114.52 31,114.52 - 24,800.12 24,800.12 11/4/96 1.47 - 1.47 10/3/96 - 43,226.65 43,226.65 3/7/96 1,755.03 726.41 2,481.44 10/15/96 426.59 16,243.13 16,669.72 10/7/96 221.27 157.91 379.18 10/31/96 564.41 18,434.27 18,998.68 10/7/96 5,255.07 3,750.42 9,005.49 375.77 268.18 643.95 10/25/96 805.45 1,794.71 2,600.16 10/15/96 3,025.95 16,921.48 19,947.43 10/25/96 346.05 771.07 1,117.12 11/5/96 792.14 - 792.14 9/24/96 - 4,266.12 4,266.12 10/14/96 0.40 7,585.75 7,586.15 11/4/96 13,978.14 5,595.21 19,573.35 13,978.14 5,595.21 19,573.35 23,875.57 4,074.32 27,949.89 10/25/96 21,038.24 11,813.96 32,852.20 10/21/96 32,802.75 16,408.64 49,211.39 11/5/96 0.86 14,057.90 14,058.76 8.66 25,627.61 25,636.27 31.63 10,824.09 10,855.72 10/17/96 2,328.12 1,500.03 3,828.15 9/6/96 22,038.10 6,828.94 28,867.04 11/6/96 1,976.36 - 1,976.36 2/14/96 430.66 175.23 605.89 10/11/96 1,807.41 58,282.43 60,089.84 10/3/96 885.41 63,029.18 63,914.59 11/5/96 6,362.12 4,899.40 11,261.52 1,508.25 750.71 2,258.96 620.01 368.12 988.13 933.76 442.97 1,376.73 9/13/96 728.66 350.51 1,079.17 11/6/96 964.02 - 964.02 965.05 - 965.05 3,854.75 - 3,854.75 11/5/96 13,085.10 5,084.31 18,169.41 11/4/96 0.22 1,609.25 1,609.47 10/24/96 - 144,878.26 144,878.26 0.38 2,469.96 2,470.34 10/17/96 2.90 9,053.93 9,056.83 10/7/96 3,850.47 3,903.43 7,753.90 9/9/96 176.72 9,616.03 9,792.75 10/29/96 2,842.88 14,150.21 16,993.09 11/7/96 6,625.76 - 6,625.76 11/6/96 - 181.16 181.16 11/8/96 908.60 - 908.60 908.96 - 908.96 10/31/96 872.09 10,419.24 11,291.33 11/6/96 - 3,588.58 3,588.58 10/31/96 - 6,548.67 6,548.67 10/14/96 - 6,146.43 6,146.43 11/4/96 0.08 1,143.96 1,144.04 1/30/96 - 401.05 401.05 1/6/96 620.11 15,469.21 16,089.32 11/11/96 10,331.09 - 10,331.09 10/15/96 - 33,087.84 33.087.84 11/11/96 9,892.84 - 9,892.84 10/24/96 - 157,694.18 157,694.18 10/29/96 369.67 31,715.01 32,084.68 11/4/96 0.07 3,613.00 3,613.07 11/11/96 473.98 6,072.60 6,546.58 10/8/96 477.89 15,416.12 15,894.01 11/8/96 8,103.36 6,552.49 14,655.85 0.30 3,103.25 3,103.55 11/11/96 0.24 972.80 973.04 11/5/96 0.03 1,124.36 1,124.39 11/12/96 0.30 - 0.30 2.93 - 2.93 11/11/96 - 7,815.49 7,815.49 - 24,250.69 24,250.69 10/31/96 807.31 1,906.20 2,713.51 11/5/96 2,634.99 1,435.85 4,070.84 11/6/96 1,073.76 1,387.61 2,461.37 11/11/96 2,273.68 16,684.05 18,957.73 10/29/96 0.07 1,577.97 1,578.04 10/7/96 187.18 489.12 676.30 2,668.68 6,973.74 9,642.42 2,404.00 6,282.10 8,686.10 1,729.89 4,520.51 6,250.40 11/11/96 6,432.78 21,005.29 27,438.07 11/5/96 0.06 1,820.80 1,820.86 11/13/96 400.03 76.33 476.36 11/15/96 4,968.11 - 4,968.11 9/30/96 0.03 1,449.49 1,449.52 11/8/96 - 118,444.18 118,444.18 11/15/96 0.38 - 0.38 10/10/96 - 4,779.77 4,779.77 11/14/96 4,688.47 33,415.33 38,103.80 10/31/96 277.23 11,746.55 12,023.78 11/18/96 164,425.72 - 164,425.72 11/15/96 29,658.76 30,336.53 59,995.29 10/31/96 0.39 4,072.04 4,072.43 10/25/96 - 1,888.96 1.888.96 11/6/96 - 857.52 857.52 11/13/96 4,171.45 4,975.54 9,146.99 656.42 782.95 1,439.37 6,263.23 7,470.53 13,733.76 11/13/96 17,303.62 18,942.44 36,246.06 34,205.23 25,188.38 59,393.61 1,515.93 1,051.11 2,567.04 2,461.81 1,804.05 4,265.86 51,306.70 38,222.12 89,528.82 320.80 23,270.33 23,591.13 131.67 14,264.56 14,396.23 3.86 9,727.39 9,731.25 884.15 573.33 1,457.48 11/5/96 7,060.61 57,999.34 65,059.95 11/6/96 2,142.90 4,942.22 7,085.12 11/13/96 10,680.17 9,207.60 19,887.77 10/31/96 307.45 1,050.67 1,358.12 11/13/96 19,263.41 13,356.72 32,620.13 6/10/96 583.27 2,106.76 2,690.03 11/6/96 - 1,428.55 1,428.55 11/18/96 2,633.77 13,292.05 15,925.82 11/11/96 26.57 319,085.02 319,111.59 11/15/96 - 9,578.78 9,578.78 11/6/96 - 7,949.25 7,949.25 11/13/96 7,763.70 6,685.28 14,448.98 11/18/96 5,108.08 19,601.69 24,709.77 11/13/96 1,060.79 865.16 1,925.95 380.39 310.23 690.62 11/18/96 303.55 5,126.87 5,430.42 767.28 5,471.80 6,239.08 11/17/96 91.36 5,444.61 5,535.97 10/10/96 0.45 4,179.20 4.179.65 11/4/96 10,350.85 63,763.14 74,113.99 11/13/96 3,088.63 2,518.99 5,607.62 11/18/96 8,749.51 16,832.12 25,581.63 11/13/96 17,676.90 16,405.68 34,082.58 958.94 889.88 1,848.82 1,218.55 1,130.92 2,349.47 10/31/96 288.71 1,113.79 1,402.50 519.05 2,002.39 2,521.44 328.15 1,265.95 1,594.10 348.66 1,345.07 1,693.73 1,643.91 6,341.89 7,985.80 560.06 2,160.63 2,720.69 11/13/96 779.03 501.54 1,280.57 11/21/96 5,591.04 4,911.61 10,502.65 11/18/96 6.89 28,792.68 28,799.57 9/21/96 780.12 49,313.51 50,093.63 10/18/96 301.57 15,841.74 16,143.31 11/21/96 10.74 6,825.34 6,836.08 11/22/96 36,486.27 65,447.21 101,933.48 11/13/96 1,723.17 12,554.38 14,277.55 11/11/96 22,091.07 136,152.47 158,171.54 4,460.41 146,062.80 150,523.21 11/13/96 698.14 879.25 1,577.39 8,247.36 10,386.96 18,634.32 11/25/96 3,321.83 - 3,321.83 11/20/96 0.02 911.77 911.79 5/21/96 0.28 9,360.42 9,360.70 9/12/96 152.32 25,336.25 25,488.57 11/22/96 - 11,772.54 11,772.54 10/29/96 0.19 8,066.94 8,067.13 11/25/96 5.40 - 5.40 11/18/96 454.86 6,819.51 7,274.37 1,005.33 6,537.26 7,542.59 11/12/96 113.32 7,544.35 7,657.67 11/26/96 747.83 - 747.83 809.55 - 809.55 715.32 - 715.32 10/24/96 - 15,274.10 15,274.10 11/25/96 9.70 4,393.81 4,403.51 11/25/96 345.71 - 345.71 11/12/96 - 10,096.72 10,096.72 10/7/96 90.76 88,110.92 88,201.68 10/25/96 487.83 22,036.63 22,524.46 11/19/96 18.39 119,017.39 119,035.78 10/4/96 0.43 92,739.97 92,740.40 11/6/96 26.64 259,267.18 259,293.82 11/20/96 - 3,122.05 3,122,05 11/13/96 0.42 17,198.23 17,198.65 5/31/96 0.21 9,991.51 9,991.72 4/1/96 - 1,603.68 1,603.68 11/13/96 24,004.49 38,829.71 62,834.20 4,534.23 6,824.59 11,358.82 11/7/96 53,746.20 138,430.09 192,176.29 11/27/96 389.30 - 389.30 10/15/96 0.07 9,079.22 9,079.29 9/30/96 - 80,010.46 80,010.46 10/22/96 0.04 4,861.87 4,861.91 10/27/96 7.37 - 7.37 9/27/96 0.20 9,312.05 9,312.25 8/30/96 0.02 2,639.53 2,639.55 11/26/96 32.71 48,885.38 48,918.09 9/24/96 - 2,827.16 2,827.16 9/26/96 0.04 6,264.08 6,264.12 11/28/96 8.51 - 8.51 11/27/96 0.77 1,369.61 1,370.38 4.17 2,442.39 2,446.56 1.40 820.69 822.09 11/29/96 845.51 - 845.51 10,215.72 - 10,215.72 704.65 - 704.65 11/13/96 3,738.32 6,590.86 10,329.18 3,109.89 5,482.89 8,592.78 11/29/96 9,240.51 - 9,240.51 2.50 - 2.50 0.31 - 0.31 1.21 - 1.21 0.40 - 0.40 Subtotal P897,862.60 P3,674,593.46 P4,572,456.06 December G-2-a-12 11/27/96 683.33 315.35 998.68 1,144.16 395.15 1,539.31 9/30/96 3,327.37 2,048.74 5,376.11 11/29/96 17,370.05 21,193.80 38,563.85 11/27/96 120.10 55.41 175.51 12/2/96 28,755.01 - 28,755.01 14,508.75 - 14,508.75 11/27/96 4,277.85 4,433.94 8,711.79 360.87 3,761.68 4,122.55 46,910.39 30,985.18 77,895.57 12/2/96 10,923.06 - 10,923.06 9/13/96 5,778.95 3,354.12 9,133.07 11/29/96 3,830.62 13,393.38 17,224.00 11/11/96 291.29 6,286.02 6,577.31 11/29/96 - 48,984.83 48,984.83 11/16/96 - 40,786.92 40,786.92 5/31/96 0.18 567.47 567.65 4/18/96 0.11 301.44 301.55 12/2/96 13,285.51 2,168.53 15,454.04 11/20/96 831.44 2,121.41 2,952.85 10/10/96 0.08 150.62 150.70 12/2/96 0.42 3,940.58 3,941.00 2.07 1,882.70 1,884,77 1.22 12,144.80 12,146.02 11/28/96 13.96 32,817.81 32,831.77 11/27/96 0.98 13,052.35 13,053.33 - 9,799.26 9,799.26 3.59 13,220.11 13,223.70 11/25/96 0.27 3,956.69 3,956.96 12/2/96 0.91 866.99 867.90 12/4/96 1,129.50 - 1,129.50 10/28/96 37,466.11 8,200.38 45,666.49 11/27/96 95,501.09 21,669.64 117,170.73 10/31/96 1,852.03 1,735.65 3,587.68 12/2/96 0.62 1,384.45 1,385.07 - (1,644.43) (1,644.43) 11/6/96 - 4,779.94 4,779.94 12/4/96 1.01 - 1.01 12/2/96 0.63 1,608.65 1,609.28 5.60 3,851.64 3,857.24 0.37 952.97 953.34 9/26/96 0.15 1,108.79 1,108.94 11/18/96 2,725.07 5,038.73 7,763.80 10/11/96 0.01 131.01 131.02 11/29/96 0.05 685.66 685.71 12/3/96 0.39 2,675.63 2,676.02 5/31/96 493.18 1,103.86 1,597.04 12/5/96 49,484.45 1,534.42 51,018.87 91.38 479.49 570.87 12/6/96 72.52 - 72.52 12/5/96 - 235.70 235.70 12/2/96 0.24 16,676.25 16,676.49 11/8/96 - 17,138.34 17,138.34 11/29/96 1.57 16,044.16 16,045.73 12/5/96 0.53 693.88 694.41 1.10 5,054.73 5,055.83 9/6/96 250.27 379.79 630.06 309.70 469.99 779.69 12/5/96 - 1,554.17 1,554.17 12/3/96 303.80 72,240.63 72,544.43 5/31/96 0.03 1,626.27 1,626.30 12/6/96 0.45 9,317.42 9,317.87 6/27/96 41,836.98 28,574.84 70,411.82 7/5/96 37,124.20 28,092.96 65,217.16 7/30/96 45,230.09 33,781.22 79,011.31 9/9/96 26,411.46 26,995.62 53,407.08 9/6/96 0.02 710.57 710.59 12/10/96 10,221.35 - 10,221.35 9/2/96 - 2,160.43 2,160.43 12/2/96 - 14,958.19 14,958.19 9/13/96 8,906.89 4,693.47 13,600.36 12/9/96 4,768.89 23,589.35 28,358.24 12/11/96 1,193.68 - 1,193.68 12/5/96 96,977.34 49,690.13 146,667.47 9/13/96 1,438.96 828.27 2,267.23 11/27/96 15,431.03 8,231.09 23,662.12 11/29/96 3,692.88 13,473.54 17,166.42 12/6/96 27,688.03 19,551.34 47,239.37 7/5/96 - 2,373.98 2,373.98 9/24/96 - 774.34 774.34 1,010.50 647.84 1,658.34 12/4/96 0.51 27,653.09 27,653.60 12/10/96 0.27 3,110.15 3,110.42 12/11/96 0.66 - 0.66 12/2/96 0.65 5,997.24 5,997.89 12/9/96 - 8,367.02 8,367.02 12/10/96 - 10,989.48 10,989.48 9/27/96 - 4,819.27 4,819.27 11/28/96 - 6,198.39 6,198.39 12/11/96 68,231.93 2,867.62 71,099.55 11/29/96 1,040.06 1,303.10 2,343.16 10/3/96 - 1,502.03 1,502.03 10/3/96 - 1,502.02 1,502.02 12/13/96 22.16 - 22.16 12/6/96 22,271.80 100,521.48 122,793.28 12/10/96 312.39 1,900.70 2,213.09 307.70 2,656.9S 2,964.65 12/9/96 895.37 17,540.92 18,436.29 12/11/96 2,224.37 18,602.15 20,826.52 9/6/96 194.87 384.42 579.29 12/12/96 0.43 3,883.48 3,883.91 12/13/96 1,637.54 - 1,637.54 8/29/96 2,965.80 6,883.17 9,848.97 12/11/96 164,798.32 35,365.56 200,163.88 12/5/96 29,844.49 34,845.92 64,690.41 12/16/96 736.29 - 736.29 11/29/96 407.24 4,596.88 5,004.12 12/16/96 42,719.30 - 42,719.30 29,371.72 - 29,371.72 12/12/96 15,018.65 17,347.68 32,366.33 11/11/96 200.44 1,243.14 1,443.58 12/12/96 0.80 9,821.79 9,822.59 12/9/96 1.69 9,488.38 9,490.07 9/6/96 - 18,723.26 18,723.26 2/14/96 0.01 1,063.74 1,063.75 11/29/96 0.19 4,845.75 4,845.94 0.16 4,384.35 4,384.51 1/3/96 127.53 1,097.22 1,224.75 12/16/96 5,183.48 8,498.06 13,681.54 - 4,199.26 4,199.26 12/10/96 0.74 8,824.31 8,825.05 11/29/96 - 222,943.58 222,943.58 12/17/96 0.26 - 0.26 12/13/96 - 20,427.56 20,427.56 12/5/96 0.91 48,512.63 48,513.54 689.74 830.65 1,520.39 11/29/96 568.87 787.63 1,356.50 10/11/96 1,254.07 4,226.62 5,480.69 9/6/96 1,224.25 1,528.22 2,752.47 11/27/96 124,805.46 112,453.33 237,258.79 11/29/96 8,619.52 44,977.73 53,597.25 12/9/96 87,705.43 16,728.81 104,434.24 12/18/96 1,721.95 - 1,721.95 12/11/96 356,010.17 82,245.06 438,255.23 12/18/96 1.82 - 1.82 11/29/96 - 443,319.34 443,319.34 12/16/96 - 147.73 147.73 12/2/96 5.48 159,176.35 159,181.83 12/18/96 1.42 - 1.42 11/29/96 0.12 3,475.04 3,475.16 12/5/96 (93,254.45) 157,451.39 64,196.92 (9,256.44) 63,957.14 54,700.70 12/2/96 (26,392.55) 398,223.85 371,831.30 (12,304.84) 193,501.73 181,196.89 12/5/96 (64.61) 246,896.53 246,831.92 12/18/96 9,149.62 6,737.98 15,887.60 12/19/96 9,678.82 - 9,678.82 8/30/96 614.54 1,958.39 2,572.93 12/6/96 2,661.81 4,553.05 7,214.86 12/18/96 3,197.40 9,006.58 12,203.98 12/19/96 16,200.91 - 16,200.91 0.15 - 0.15 0.14 - 0.14 12/6/96 5,818.40 740,870.94 746,689.34 10/18/96 34,736.63 2,045,929.01 2,080,665.64 12/3/96 1,196.70 25,582.17 26,778.87 12/20/96 3,459.89 - 3,459.89 4/23/96 940.15 1,389.05 2,329.20 12/20/96 15,897.75 19,984,102.25 20,000,000.00 981.72 - 981.72 3/7/96 0.01 3,486.66 3,486.67 12/18/96 8.69 9,775.10 9,783.79 12/20/96 0.73 - 0.73 12/18/96 0.96 2,962.92 2,963.88 12/13/96 0.23 12,043.83 12,044.06 12/18/96 0.42 3,785.19 3,785.61 12/13/96 0.23 12,043.83 12,044.06 12/18/96 0.42 3,785.19 3,785.61 12/19/96 2.44 1,363.91 1,366.35 12/9/96 2.40 16,898.63 16,901.03 12/3/96 0.09 31,208.56 31,208.65 12/9/96 0.45 8,801.65 8,802.10 12/18/96 143,091.59 41,987.01 185,078.60 12/5/96 20,641.13 35,279.10 55,920.23 12/6/96 3,300.65 7,768.63 11,069.28 12/20/96 1,113.48 22,944.15 24,057.63 12/4/96 (258,654.05) 707,105.85 448,451.80 6/24/96 - 818.89 818.89 - 818.89 818.89 12/19/96 (323.99) 3,399.63 3,075.64 12/5/96 (31,631.77) 84,370.63 52,738.86 12/23/96 34.39 - 34.39 11/7/96 503.81 563,451.16 563,954.97 11/22/96 127.69 203,594.33 203,722.02 8/15/96 0.03 3,553.17 3,553.20 12/5/96 - 533.83 533.83 12/23/96 0.05 - 0.05 12/12/96 14.15 73,812.48 73,826.63 11/27/96 5.16 88,371.91 88,377.07 11/21/96 5.80 98,296.83 98,302.63 12/16/96 - 61,740.26 61,740.26 12/18/96 - 14,399.28 14,399.28 12/6/96 644.62 1,924.55 2,569.17 11/11/96 0.96 112,261.43 112,262.39 12/19/96 0.24 8,566.37 8,566.61 0.24 2,830.84 2,831.08 9/27/96 - 96,548.64 96,548.64 8/30/96 - 40,126.08 40,126.08 12/19/96 0.39 3,352.87 3,353.26 12/13/96 0.60 6,406.57 6,407.17 9/3/96 0.88 14,366.82 14,367.70 12/2/96 0.32 13,147.40 13,147.72 11/6/96 0.43 7,020.12 7,020.55 12/10/96 0.07 2,221.59 2,221.66 12/24/96 2,431.76 4,947.46 7,379.22 12/12/96 1,588.53 3,696.75 5,285.28 12/26/96 86.39 - 86.39 (1,023.44) - (1,023.44) (492.71) - (492.71) 12/9/96 213.10 2,969.47 3,182.57 12/5/96 165.37 7,668.83 7,834.20 12/24/96 42,575.56 20,445.96 63,021.52 20,164.60 16,303.25 36,467.85 92,550.95 43,828.17 136,379.12 12/26/96 650.65 - 650.65 485.38 - 485.38 5,357.94 - 5,357.94 913.21 - 913.21 913.21 - 913.21 12/24/96 0.46 6,425.88 6,426.34 12/29/96 1.44 140,291.43 140,292.87 12/5/96 (8,142.43 50,446.40 42,303.97 12/26/96 (28,510.17) - (28,510.17) (170.47 - 170.47 12/24/96 0.77 19,114.00 19,114.77 11/29/96 719.91 65,902.52 66,622.43 12/26/96 1,001.19 - 1,001.19 12/23/96 - 74,366.37 74,366.37 12/26/96 0.48 - 0.48 12/23/96 - 861.27 861.27 - 2,077.60 2.077.60 12/27/96 2.27 - 2.27 12/5/96 1,999.32 5,463.82 7,463.14 12/26/96 70,251.87 4,874.29 75,126.16 11/7/96 77,427.91 51,675.07 129,102.98 12/10/96 - 45,820.71 45,820.71 12/26/96 - 5,137.03 5,137.03 12/27/96 0.49 - 0.49 6/27/96 0.01 1,165.48 1,165.49 Subtotal P1,758,833.87 P29,162,465.13 P30,921,299.00 Total P3,755,779.55 P69,181,566.65 P72,937,346.20 ============= ============= ============= ANNEX B Floating Rate Treasury Notes Court's Disallowances of Income from Sales TRADING INTEREST TOTAL EXHIBIT DATE GAIN INCOME (Net of 20%) G-3-a-10-35 10/22/96 P614.20 P14,388.18 P15,002.38 P1,129.44 - P1,129.44 405.79 14,911.45 15,317.24 559.39 1,046.27 1,605.66 G-3-a 10-36 10~23/96 776.66 - 776.66 15.62 41,856.99 41,872.61 865.13 28,776.23 29,641.36 126.94 13,080.24 13,207.18 1,580.02 221.46 1,801.48 863.57 24,590.53 25,454.10 G-3-a-10-37 372.84 1,595.74 1,968.58 373.96 1,600.32 1,974.28 3,813.28 13,810.82 17,624.10 G-3-a-10-38 10/24/96 558.11 7,847.75 8,405.86 G-3-a-10-40 10/25/96 1,196.47 7,101.18 8,297.65 1,064.63 20,543.17 21,607.80 417.43 9,230.91 9,648.34 362.08 5,502.91 5,864.99 G-3-a 10-42 10/28/96 6,502.62 - 6,502.62 437.87 4,913.09 5,350.96 89.14 4,842.37 4,931.51 G-3-a-10-43 293.15 120,439.88 120,733.03 880.21 1,549.75 2,429.96 2,096.08 3,690.48 5,786.56 881.50 1,552.01 2,433.51 415.47 3,067.83 3,483.30 G-3-a-10-44 2,378.18 7,539.24 9,917.42 113.09 107.25 220.34 G-3-a-10-46 248.71 5,247.99 5,496.70 (11,977.50) 31,417.81 19,440.31 (12,351.12) 46,068.54 33,717.42 G-3-a-10-48 10/30196 5,641.86 11,799.02 17,440.88 423.22 - 423.22 1,303.88 1,338.95 2,642.83 Subtotal P12,471.92 P449,678.36 P462,150.28 G-3-a-11-1 11/4196 693.18 - 693.18 693.17 - 693.17 572.63 - 572.63 477.44 20,949.37 21,426.81 G-3-a-11-3 833.20 4,349.74 5,182.94 807.39 4,214.99 5,022.38 G-3-a-11-5 11/5/96 831.68 951.91 1,783.59 G-3-a-11-6 515.54 6,556.05 7,071.59 G-3-a-11-10 11/7/96 25.16 53,245.31 53,270.47 39.27 1,093.59 1,132.86 200.97 3,671.39 3,872.36 G-3-a-11-11 11/8/96 961.32 19,351.25 20,312.57 177.85 10,491.32 10,669.17 279.75 491.90 771.65 26.99 14,994.28 15,021.27 967.96 20,539.70 21,507.66 G-3-a-11-12 980.29 - 980.29 251.37 334.57 585.94 G-3-a-11-15 11/13/96 0.52 - 0.52 0.30 69,447.68 69,447.98 22.88 1,480.41 1,503.29 55.99 3,623.15 3,679.14 1.25 3,763.16 3,764.41 437.94 7,508.44 7,946.38 G-3-a-11-17 11/15/96 727.22 7,841.69 8,568.91 G-3-a-11-18 847.81 29,487.69 30,335.50 G-3-a-11-20 11/18/96 - 159,487.47 159,487.47 141.90 44,849.02 44,990.92 (221.24) 104,863.33 104,642.09 G-3-a-11-21 778.58 36,697.70 37,476.28 G-3-a-11-22 11/20/96 358.81 14,946.51 15,305.32 G-3-a-11-23 11/22/96 0.01 56.44 56.45 0.01 56.44 56.45 0.01 56.44 56.45 0.01 56.44 56.45 0.02 72.79 72.81 0.04 1,383.66 1,383.70 2,830.15 53,696.32 56,526.47 G-3-a-11-24 1,661.30 28,576.58 30,237.88 G-3-a-11-25 11/21/96 0.19 366.75 366.94 0.19 366.75 366.94 205.42 1,116.05 1,321.47 513.79 1,443.56 1,957.35 G-3-a-11-26 665.58 31,209.90 31,875.48 1,510.53 5,249.40 6,759.93 1,739.25 2,624.44 4,363.69 G-3-a-11-27 11/25/96 1,748.25 - 1,748.25 (64.02) 7,169.02 7,105.00 1,339.73 15,497.56 16,837.29 419.66 1,714.19 2,133.85 66.14 11,197.10 11,263.24 13.51 2,287.48 2,300.99 495.31 17,759.07 18,254.38 745.75 26,738.09 27,483.84 1,103.39 8,995.18 10,098.57 684.60 5,581.13 6,265.73 739.02 4,538.39 5,277.41 248.37 3,553.42 3,801.79 179.33 582.60 761.93 1,456.11 3,016.52 4,472.63 7,089.13 28,956.62 36,045.75 16,018.38 15,103.25 31,121.63 3,805.57 30,270.36 34,075.93 G-3-a-11-30 11/26/96 0.02 205.76 205.78 804.75 4,055.26 4,860.01 2,462.53 45,709.10 48,171.63 1,033.75 16,347.32 17,381.07 68.48 1,082.80 1,151.28 29.10 460.22 489.32 1,359.69 16,000.09 17,359.78 287.20 3,426.10 3,713.30 G-3-a-11-31 809.94 4,468.30 5,278.24 1,148.78 13,704.41 14,853.19 G-3-a-11-32 11/27/96 968.86 - 968.86 G-3-a-11-33 11/28/96 985.63 - 985.63 985.84 - 985.84 985.74 - 985.74 G-3-s-11-34 11/29/96 0.02 - 0.02 661.67 1,114.25 1,775.92 Subtotal P70,293.85 P1,061,097.17 P1,131,391.02 G-3-a-12-1 12/2/96 449.88 578.39 1,028.27 181.25 208.82 390.07 G-3-a-12-2 12/3/96 709.05 - 709.05 1,875.91 6,451.93 8,327.84 2,290.38 - 2,290.38 1,120.90 6,710.22 7,831.12 G-3-a-12-3 12/4/96 4,431.67 26,292.70 30,724.37 G-3-a-12-4 12/5/96 1,967.33 28,693.29 30,660.62 6,004.47 71,597.62 77,602.09 1,342.43 19,925.57 21,268.00 7,233.74 39,275.28 46,509.02 G-3-a-12-6 12/6/96 800.97 3,317.33 4,118.30 892.87 2,015.42 2,908.29 1,074.47 6,797.19 7,871.66 403.58 1,645.49 2,049.07 396.52 822.42 1,218.94 G-3-a-12-7 12,340.71 - 12,340.71 G-3-a 12-8 12/9/96 - 0.01 0.01 5,782.41 318,153.70 323,936.11 1,310.35 3,612.15 4,922.50 2,178.23 22,096.86 24,275,09 988.32 - 988.32 G-3-a-12-10 12/10/96 2,812.16 - 2,812.16 0.01 29.48 29.49 G-3-a-12-11 12/11/96 0.01 274.46 274.47 - 543,621.66 543,621.66 G-3-a-12-12 12/12/96 749.40 15,992.56 16,741.96 4,313.60 - 4,313.60 G-3-a-12-13 12/13/96 0.01 - 0.01 561.87 13,807.02 14,368.89 957.48 33,061.05 34,018.53 588.76 - 588.76 128.22 1,605.08 1,733.30 G-3-a-12-14 2,696.33 2,749.82 5,446.15 548.81 434,980.17 435,528.98 G-3-a 12-15 12/16/96 0.11 2,283.36 2,283.47 1,732.48 6,366.00 8,098.48 628.47 1,825.24 2,453.71 344.55 170,045.22 170,389.77 1,026.15 2,165.10 3,191.25 344.55 170,045.21 170,389.76 96.48 537.08 633.56 218.70 4,368.74 4,587.44 114.96 639.86 754.82 G-3-a 12-16 12/16/96 892.48 4,968.30 5,860.78 97.38 542.09 639.47 279.08 1,553.67 1,832.75 258.72 1,440.29 1,699.01 177.77 989.63 1,167.40 169.30 942.48 1,111.78 254.66 1,417.63 1,672.29 188.08 1,047.05 1,235.13 G-3-a-12-17 272.93 1,519.36 1,792.29 117.66 655.01 772.67 1,311.50 7,300.97 8,612.47 1,310.16 1,242.48 2,552.64 1,312.63 1,244.83 2,557.46 5,175.07 6,822.95 11,998.02 167.38 931.80 1,099.18 262.78 1,462.85 1,725.63 170.26 947.81 1,118.07 G-3-a-12-18 188.10 1,047.12 1,235.22 415.63 2,313.79 2,729.42 235.05 1,308.53 1,543.58 95.17 529.83 625.00 216.13 1,203.20 1,419.33 172.76 961.74 1,134.50 185.51 1,032.70 1,218.21 1,232.44 6,860.80 8,093.24 G-3-a-12-19 312.74 1,740.98 2,053.72 287.33 1,599.50 1,886.83 158.09 880.06 1,038.15 158.09 880.06 1,038.15 271.50 1,511.40 1,782.90 154.90 862.32 1,017.22 77.16 429.50 506.66 762.67 4,245.67 5,008.34 G-3-a-12-20 1,622.51 13,462.28 15,084.79 218.73 803.74 1,022.47 G-3-a-12-21 12/17/96 633.55 - 633.55 3,703.56 - 3,703.56 G-3-a-12-22 12/18/96 0.01 1,119.72 1,119.73 92.32 24,113.70 24,206.02 1,241.47 11,175.92 12,417.39 G-3~a-12-23 12/19/96 2,529.98 24,821.48 27,351.46 0.06 4,462.92 4,462.98 1,073.20 40,002.63 41,075.83 G-3-a-12-24 12/20/96 0.02 779.55 779.57 0.05 91.47 91.52 - 65,985.80 65,985.80 G-3-a-12-25 12/23/96 0.01 346.82 346.83 0.21 - 0.21 (139.43) - (139.43) 2,450.77 - 2,450.77 2,450.77 - 2,450.77 131.44 57,580.63 57,712.07 (22,283.94) - (22,283.94) (35,792.36) - (35,792.36 2,450.78 - 2,450.78 2,450.78 - 2,450.78 2,450.78 - 2,450.78 (528.44) 1,675.10 1,146.66 G-3-a-12-27 12/24/96 0.02 1,484.09 1,484.11 869.65 784.01 1,653.66 2,742.03 11,726.27 14,468.30 1,022.87 3,236.26 4,259.13 1,710.74 1,883.63 3,594.37 2,561.32 2,820.18 5,381.50 325.63 10,876.39 11,202.02 G-3-a-12-28 12/26/96 600.27 - 600.27 0.02 1,690.14 1,690.16 - 90,307.66 90,307.66 (27.79) 24,922.79 24,895.00 (4.99) 4,558.05 4,553.06 470.24 - 470.24 94.04 - 94.04 2,678.94 - 2,678.94 2.486.87 - 2,486.87 290.04 674.35 964.39 G-3-a-12-30 12/27/96 0.56 - 0.56 0.03 214.89 214.92 - 10,484.96 10,484.96 900.03 - 900.03 492.58 1,052.79 1,545.37 770.49 770.49 484.67 15,724.21 16,208.88 82.73 - 82.73 8.45 - 8.45 8.45 - 8.45 118.19 - 118.19 8.45 - 8.45 G-3-a-12-31 (413,966.41) 413,966.42 0.01 Subtotal P(341,535.39) P2,867,856.75 2,526,321.36 Total P(258,769.62) P4,378,632.28 P4,119,862.66 ============ ============= ============= ANNEX C Fixed Rate Treasury Notes Court's Disallowances of Income from Sales INTEREST INCOME PERIOD EXHIBIT SERIES (Net of 20%) May G-4-a-5 FX-5-09 P35,885.38 12,483.13 Subtotal P48,368.51 June G-4-a-6 FX-7-4 P23,473.82 23,775.64 Subtotal P47,249.46 July G-4-a-7 FX-2-3 P463,215.40 FX-2-20 2,202.93 Subtotal P465,418.33 August G-4-a-8 FX-7-5 P2,890.44 FX-7-3 24,463.80 121,759 82 122,025.57 121,954.22 FX-2-9 286,437.93 FX-7-5 102,949.31 FX-2-20 1,851,416.79 FX-7-5 71,766.86 Subtotal P2,705,644.74 September G-4-a-9 FX-2-21 P1,188,286.73 FC-2-22 90,775.02 FX-10 87,295.66 FX-7-3 47,303.82 FX-2-22 891,191.11 FX-5-12 1,687,972.73 FX-2-22 91,550.36 Subtotal P4,084,375.43 October G-4-a-10 FX-2-20 P19,625.36 FX-2-22 478,049.47 FX-2-17 116,382.85 FX-7-6 5,459.49 FX-2-22 2,124,804.98 Subtotal P2,744,322.15 November G-4-a-11 FX-2-20 106,204.58 FX-2-22 361,566.48 FX-5-12 381,876.10 FX-7-5 96,852.94 FX-10-1 2,331.55 20,965.53 FX-2-22 372,740.22 Subtotal P1,342,537.40 December G-4-a-12 FX-7-6 P178,971.40 PIBDO298L252 188,819.61 PIBDO501K143 251,917.36 251,917.36 260,531.23 521,062.46 474,726.31 1,061,358.23 4,055,390.84 187,846.08 FX-5-12 1,356,836.82 Subtotal P8,789,377.70 Total P20,227,293.73 ============= ANNEX D Fixed Rate Treasury Notes Court's Disallowances of Interest Income from Monthly Accruals TOTAL NRD DISCOUNT COUPON (Net of 20% FWT) JANUARY G-4-b-1 7/19/96 P226,799.95 P48,041.87 P274,841.82 G-4-b-2 3/14/96 151,588.98 36,310.86 187,899.84 SUBTOTAL P378,388.93 84,352.73 P462,741.66 FEBRUARY G-4-b-9 7/19/96 P551,239.70 P116,766.28 P668,005.98 MARCH G-4-b-22 7/19/96 P6,264.05 P62,359.83 P68,623.88 9/28/96 14,415.01 18,947.08 33,362.09 14,422.74 18,987.66 33,410.40 14,425.54 19,002.58 33,428.12 4,264.09 5,628.42 9,892.51 SUBTOTAL P53,791.43 P124,925.57 P178,717.90 APRIL 10/18/96 P14,458.88 59,288.27 P73,747.15 MAY G-4-b-23 10/18/96 P36,381.67 149,182.09 P185,563.76 JUNE G-4-b-24 10/18/96 36,719.10 P150,565.74 P187,284.84 12/27/96 83,135.38 99,738.23 182,873.61 7/19/96 44,303.58 440,621.22 484,924.80 9/28/96 195,138.93 148,224.51 343,363.44 194,703.06 148,130.80 342,833.86 195,299.15 148,258.57 343,557.72 4/11/96 233,648.18 940,919.27 1,174,567.45 9/28/96 57,853.21 43,829.54 101,682.75 8/17/96 45,730.28 286,684.05 332,414.33 SUBTOTAL P1,086,530.87 P2,406,971.93 P3,493,502.80 JULY G-4-b-25 10/18/96 37,059.66 P124,619.31 P161,678.97 12/27/96 835,990.26 1,002,944.67 1,838,934.93 1/11/97 348,186.08 1,363,585.31 1,711,771.39 1/25/97 460,377.94 340,477.52 800,855.46 1/19/97 11,990.67 244,707.56 256,698.23 9/28/96 295,189.07 224,221.04 519,410.11 294,520.94 224,072.62 518,593.56 295,434.69 224,275.04 519,709.73 1/11/97 163,294.01 902,337.90 1,065,631.91 9/28/96 87,519.54 66,304.70 153,824.24 8/17/96 69,080.19 433,065.16 502,145.35 SUBTOTAL 2,898,643.05 P5,150,610.83 P8,049,253.88 AUGUST G-4-b-26 2/22/97 P44,227.21 P65,852.71 P110,079.92 10/18/96 37,403.40 153,371.67 190,775.07 12/27/96 844,480.01 1,013,129.90 1,857,609.91 1/11/97 164,401.07 643,836.44 808,237.51 1/27/97 271,111.07 200,503.14 471,614.21 6,169.65 4,588.58 10,758.23 2/15/97 267,376.04 1,097,925.95 1,365,301.99 2/22/97 76,646.64 114,394.47 191,041.11 60,133.50 89,674.52 149,808.02 66,654.56 99,364.57 166,019.13 25,610.52 38,191.88 63,802.40 66,587.35 99,298.88 165,886.23 1/19/97 32,891.26 671,250.18 704,141.44 1/11/97 259,792.67 1,435,574.85 1,695,367.52 9/28/96 28,553.88 21,632.38 50,186.26 2/17/96 19,658.57 189,706.94 209,365.51 SUBTOTAL P2,271,697.40 P5,938,297.06 P8,209,994.46 ____________ SEPTEMBER G-4-b-27 3/21/97 P30,370.09 P43,503.41 P73,873.50 2/22/97 166,872.08 248,466.49 415,338.57 10/18/96 37,750.31 154,794.18 192,544.49 1/11/97 165,966.25 649,966.10 815,932.35 1/25/97 273,885.77 202,555.20 476,440.97 62,039.00 46,140.56 108,179.56 279,913.78 202,395.99 482,309.77 3/26/97 34,428.58 14,006.40 48,434.98 2/22/97 226,879.13 338,335.16 565,214.29 251,484.70 374,898.08 626,382.78 96,626.54 144,095.04 240,721.58 251,229.02 374,647.10 625,876.12 1/19/97 33,170.33 676,945.50 710,115.83 3/14/97 9,653.93 85,331.03 94,984.96 1/11/97 66,671.80 368,418.28 435,090.08 3/28/97 1,733.02 1,463.85 3,196.87 2/17/96 45,641.57 440,445.15 486,086.72 SUBTOTAL P2,034,315.90 P4,366,407.52 P6,400,723.42 OCTOBER G-4-b-28 3/21/97 P101,885.49 P145,945.09 P247,830.58 4/26/97 31,345.93 53,582.82 84,928.75 2/22/97 168,494.52 250,882.22 419,376.74 4/18/97 11,138.74 62,665.09 73,803.83 4/25/97 13,853.90 24,062.09 37,915.99 28,823.20 49,340.85 78,164.05 57,017.53 98,010.60 155,028.13 3,564.61 6,183.49 9,748.10 12/27/96 662,464.30 794,250.80 1,456,715.10 1/11/97 107,401.75 420,612.58 528,014.33 1/25/97 276,688.86 204,628.25 481,317.11 62,666.07 46,606.92 109,272.99 650,922.12 470,659.33 1,121,581.45 2/15/97 517,868.16 2,136,081.88 2,653,950.04 3/12/97 175,104.80 725,964.49 901,069.29 3/26/97 259,732.78 105,665.75 365,398.53 4/10/97 214,434.82 915,862.24 1,130,297.06 10/24/97 1,462,456.57 1,173,703.12 2,636,159.69 2/22/97 229,071.58 341,604.66 570,676.24 253,918.29 378,525.91 632,444.20 97,560.31 145,487.50 243,047.81 253,656.78 378,267.51 631,924.29 1/19/97 33,451.77 682,689.14 716,140.91 3/14/97 18,229.32 161,133.43 179,363.25 1/11/97 67,292.78 371,849.63 439,142.41 98,909.56 546,559.27 645,468.83 4/19/97 7,377.32 65,278.01 72,655.33 3/28/97 26,136.95 22,077.45 48,214.40 2/17/96 46,028.82 444,182.17 490,210.99 SUBTOTAL P5,937,498.13 11,222,362.29 17,159,860.42 NOVEMBER G-4-b-29 5/23/97 P1,720.95 P2,764.48 P4,485.43 0.06 0.10 0.16 3/21/97 102,895.93 147,392.50 250,288.43 4/26/97 236,403.29 404,108.42 640,511.71 5/23/97 15,216.52 24,487.27 39,703.79 2/22/97 170,132.72 253,321.45 423,454.17 4/18/97 28,027.47 157,678.91 185,706.38 4/25/97 83,599.76 145,199.98 228,799.74 173,986.13 297,837.29 471,823.42 344,144.73 591,569.49 935,714.22 21,510.81 37,314.61 58,825.42 5/23/96 6,496.95 36,549.42 43,046.37 1,625.72 9,145.16 10,770.88 1,339.57 2,149.53 3,489.10 1/11/97 3,623.34 14,192.75 17,816.09 52,654.77 206,209.49 258,864.26 1/25/97 63,299.49 47,078.03 110,377.52 657,913.52 475,714.56 1,133,628.08 985,008.49 725,403.32 1,710,411.81 2/15/97 522,343.15 2,154,540.11 2,676,883.26 3/12/97 11,760.13 48,773.42 60,533.55 54,346.00 225,255.84 279,601.84 3/26/97 217,928.45 88,658.71 306,587.16 4/10/97 324,010.92 1,383,867.44 1,707,878.36 4/24/97 7,354,695.37 5,902,554.05 13,257,249.42 5/14/97 381,132.46 1,595,867.34 1,976,999.80 5/21/97 1,221,340.19 1,612,663.32 2,834,003.51 2/22/97 309,931.62 454,595.03 764,526.65 231,285.22 344,905.76 576,190.98 256,375.41 382,188.86 638,564.27 1/19/97 98,503.07 146,893.43 245,396.50 3/14/97 256,107.99 381.922.91 638,030.90 1/11/97 33,735.59 688,481.52 722,217.11 18,399.04 162,629,05 181,028.09 67,919.52 375,312.96 443,232.48 199,199.92 1,100,748.43 1,299,948.35 5/16/97 78,313.52 644,656.53 722,970.05 4/19/97 20,242.67 179,116.46 199,359.13 3/28/97 26,404.44 22,303.40 48,707.84 46,419.36 447,950.89 494,370.25 SUBTOTAL P14,679,994.26 P21,922,002.22 P36,601,996.48 DECEMBER G-4-b-30 5/23/97 P7,422.73 P11,923.60 P19,346.33 0.28 0.44 0.72 3/21/97 103,916.41 148,854.26 252,770.67 4/26/97 238,729.07 408,084.11 646,813.18 5/23/97 65,627.89 105,612.02 171,239.91 2/22/97 171,786.85 255,784.39 427,571.24 4/18/97 28,287.42 159,141.36 187,428.78 4/25/97 84,422.24 146,628.49 231,050.73 175,794.35 300,932.68 476,727.03 347,666.90 597,623.91 945,290.81 21,723.46 37,683.49 59,406.95 5/23/96 28,003.26 157,535.92 185,539.18 7,007.25 39,417.87 46,425.12 5/30/97 15,130.76 12,780.70 27,911.46 6/27/97 77,054.82 106,104.61 183,159.43 1/11/97 109,232.74 427,868.99 537,101.73 61,295.25 240,047.81 301,343.06 1/25/97 226,178.85 167,250.19 393,429.04 63,939.31 47,553.87 111,493.18 664,980.00 480,824.10 1,145,804.10 1,861,506.37 1,370,893.92 3,232,399.29 2/15/97 526,856.80 2,173,157.84 2,700,014.64 3/12/97 354,445.14 1,470,010.03 1,824,455.17 546,171.11 2,263,795.51 2,809,966.62 3/26/97 220,193.36 89,580.13 309,773.49 4/10/97 326,863.48 1,396,050.93 1,722,914.41 4/24/97 937,867.03 752,690.70 1,690,557.73 131,851.82 106,707.85 237,559.67 401,664.45 321,229.69 722,894.14 5/14/97 719,530.79 3,012,799.64 3,732,330.33 5/21/97 3,484,063.19 4,600,373.36 8,084,436.55 6/12/97 414,108.93 1,861,440.70 2,275,649.63 6/19/97 449,811.65 393,073.13 842,884.78 2/22/97 313,123.27 459,276.40 772,399.S7 233,520.24 348,238.76 581,759.00 258,856.32 385,887.24 644,743.56 99,454.96 148,312.92 247,767.88 258,582.89 385,613.62 644,196.51 1/19/97 34,021.83 694,323.03 728,344.86 3/14/97 18,569.82 164,138.56 182,708.38 1/11/97 68,552.10 378,808.52 447,360.62 201,055.20 1,111,000.53 1,312,055.73 5/16/97 168,995.10 1,391,123.67 1,560,118.77 4/19/97 20,423.46 180,716.25 201,139.71 3/28/97 26,674.69 22,531.66 49,206.35 2/17/96 46,813.21 451,751.60 498,564.81 SUBTOTAL P14,621,776.05 P29,784,178.90 P44,405,954.95 TOTAL P44,564,716.27 P81,325,345.69 P125,890,061.96 ============== ============= ==============