Partners' Capital

9 Months Ended

Sep. 30, 2015

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(7) Partners’ Capital –

For the nine months ended September 30, 2015 and 2014, the Partnership declared distributions of $822,818 and $875,765, respectively.  The Limited Partners received distributions of $814,590 and $867,008 and the General Partners received distributions of $8,228 and $8,757 for the periods, respectively. The Limited Partners' distributions represented $38.64 and $38.27 per Limited Partnership Unit outstanding using 21,083 and 22,653 weighted average Units in 2015 and 2014, respectively. The distributions represented $16.54 and $38.27 per Unit of Net Income and $22.10 and $0 per Unit of return of contributed capital for the periods, respectively.

As part of the distributions discussed above, the Partnership distributed net sale proceeds of $139,022 and $200,478 in 2015 and 2014, respectively. The Limited Partners received distributions of $137,632 and $198,473 and the General Partners received distributions of $1,390 and $2,005 for the periods, respectively. The Limited Partners’ distributions represented $6.51 and $8.76 per Unit for the periods, respectively.

On April 1, 2015, the Partnership repurchased a total of 1,118.25 Units for $902,509 from 27 Limited Partners in accordance with the Partnership Agreement. The Partnership acquired these Units using net sale proceeds. During the first nine months of 2014, the Partnership did not repurchase any Units from the Limited Partners. The repurchases increase the remaining Limited Partners' ownership interest in the Partnership. As a result of these repurchases and pursuant to the Partnership Agreement, the General Partners received distributions of $9,117 in 2015.