Mr. Armstrong. Right.
Mr. Hubert. What was the financial condition of the club, as far as you know?
Mr. Armstrong. Not good.
Mr. Hubert. Well, now, before you expand into that, do you know when it opened, when the Carousel opened?
Mr. Armstrong. I don’t know when the Carousel opened.
Mr. Hubert. It was open when you went there?
Mr. Armstrong. It was open when I went there.
Mr. Hubert. Do you know how long it had been open, had you heard?
Mr. Armstrong. Well, the first was in 1961 or I think of 1960—the last of 1960, because I think there was a prior club during 1960 there.
Mr. Hubert. In other words, the Carousel had been in existence as such and under that name for about 18 months before you went with it?