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PARTNERS' CAPITAL
 12 Months Ended
Dec. 31, 2013
PARTNERS' CAPITAL  
PARTNERS' CAPITAL

NOTE 7. PARTNERS' CAPITAL

        The Partnership has two classes of Limited Partners (Class A and B) and one category of General Partner. Under the terms of the Partnership Agreement, distributions to holders of Class B Units and General Partnership Units must represent 19% and 1%, respectively, of the total units outstanding. All classes have equal profit sharing and distribution rights, in proportion to their ownership interests.

        Effective January 3, 2012, the Partnership authorized a 3-for-1 forward split of its Depositary Receipts listed on the NYSE Amex and a concurrent adjustment of the exchange ratio of Depositary Receipts for Class A Units of the Partnership from 10-to-1 to 30-to-1, such that each Depositary Receipt represents one-thirtieth (1/30) of a Class A Unit of the Partnership.

        In 2014, the Partnership announced the approval of a quarterly distribution of its Class A Limited Partners and holders of Depositary Receipts of record as of March 15, 2014 and payable on March 31, 2014, $7.50 per unit and $0.25 per receipt.

        In 2013 and 2012, the Partnership paid quarterly distributions of $7.50 per unit ($0.25 per receipt) in March, June, September, and December for a total distribution of $30.00 per unit ($1.00 per receipt) each year.

        The Partnership has entered into a deposit agreement with an agent to facilitate public trading of limited partners' interests in Class A Units. Under the terms of this agreement, the holders of Class A Units have the right to exchange each Class A Unit for 30 Depositary Receipts. The following is information per Depositary Receipt:

 
   Year Ended
December 31,		  
 
   2013   2012  

Income per Depositary Receipt before Discontinued Operations

   $ 0.50   $ 0.91  

Income from Discontinued Operations

     0.95     0.01  
           
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Net Income per Depositary Receipt after Discontinued Operations

   $ 1.45   $ 0.92  
           
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Distributions per Depositary Receipt

   $ 1.00   $ 1.00  
           
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