Thanks for your replies.
Here is what I have done.
On the old macBook running OS 10.6.8 I have done all repairs listed when you option open iPhoto.
B/U iPhoto in Time machine.
Copy iPhoto from the time machine external hard drive that is properly formatted to the pics folder in my new MacBook thats running OS 10.12.3
If I use get info on this copy of iPhotos it shows it is unlocked and that I have custom permissions to read and write.
If I option open Photos and choose iPhoto library Photos starts preparing library.
Photos starts preparing library and runs till 24% then the message = Photos has detected inconsistencies in your library pops up, and the only option is to quit.
I have also tried to click open the copy of iPhoto in the new Mac and the same exact thing happens.
I have tried drag iPhotos and drop on Photos, I get the same result but now I show a new Photos folder along with the original Photos folder in the pics folder.
If I choose this folder in Photos their is nothing in it.
If I click open this Photos folder here is a screen shot of what is in it.

Any ideas?