X-Message-Number: 488
From att!compuserve.com!72320.1642 Wed Oct  2 02:18:47 EDT 1991
Date: 02 Oct 91 02:07:53 EDT
From: STEVE BRIDGE <>
Subject: ALCOR INVESTMENTS

TO: KEVIN
October 2, 1991

In reply to Perry Metzger:

     Alcor's  Financial Report for 1990 was published in the  April,  1991 
issue  of CRYONICS Magazine.  While things may have changed this year,  it 
does  not  appear that any significant amount is  invested  in  government 
securities  of  any kind.  You may be able to tell better from  the  table 
below.

     Investments  (not counting working funds for expenses, etc.)  are  in 
two main areas:  The Dick Jones Endowment and the Patient Care Fund.   The 
DJ Endowment is for the purpose of long term growth of the organization as 
a whole.  The Patient Care Fund is only for direct patient care expenses.

     JONES ENDOWMENT FUND
          J. HANCOCK CASH MGMT TRUST             39,318.04
          J. HANCOCK US GVT SEC                  24,684.60
          DUE FROM 1ST PACIFIC BANK              96,852.22
          INVESTMENT DJ HOUSE                   471,128.78
                                                __________
          TOTAL JONES ENDOWMENT FUND            631,983.64


[Notes:   "Due  from 1st Pacific Bank" is probably at least partly  a  bad 
debt.  Alcor (as reported in CRYONICS, JULY, 1991) had invested that money 
with  a  supposedly  reliable overseas bank in an  attempt  to  diversify, 
following the legal troubles during the Dora Kent crisis.   Unfortunately, 
the  American agent for the bank turned out to be a scoundrel  who  ripped 
off Alcor's account.  While the courts sided with Alcor and have made  the 
fellow  suffer  badly,  the effort to regain the money has  cost  a  large 
portion of the recovery.  I don't know what the final figures are.
     "Investment DJ house" is Dick Jones's home which was willed to Alcor.  
The  house  is in process of being sold (or may already be  sold  by  this 
time).]


     PATIENT CARE FUND
          SAVINGS - PACIFIC HORIZON               3,941.44
          CERT OF DEP - WELLS FARGO             100,000.00
          SAVINGS - BENHAM                      171,763.71
          INVESTMENT IN SYMBEX                   33,118.00
          INVESTMENT DJ HOUSE                   196,852.22
          PROPERTY & EQUIP-RESEARCH             189,820.63
          ACCUM DEPR-EQUIP-RESEARCH             (20,219.99)
          L.H. IMPROVEMENTS-PATIENT              19,655.34
          ACCUM DEPREC-L.H.-PATIENT              (1,719.00)
                                                 __________
          TOTAL PATIENT CARE FUND               693,212.35

[Notes:   "Symbex"  is  the  limited  partnership  which  owns  the  Alcor 
building.
     "Property and Equipment" includes the patient tanks and other similar 
assets.
     "L.H.  Improvements"  are  "leasehold  improvements."   This  may  be 
improvements to the part of the building which houses the patients.   This 
seems like a logical conclusion since "leasehold improvements" are  listed 
as being on a 40 year scale of depreciation.]

     Perhaps the Alcor people can offer an update, but I doubt that  major 
changes have been made, unless that Jones house money has been invested in 
a new way.

Steve Bridge, Midwest Coordinator
Alcor Life Extension Foundation

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