◆ SpookStack

TR a a me ere me ee nm en ee mine nee tl alge an oe ere <- ; - ne es e “the Torporetion was fixed by ROSENBAUM. “He aia not know ‘the wy nae Amount of the contributions made by the other stockholders -+-.+>. o or whether ROSENBAUM owned any stock in the Corporation. | Hey, ra likewise did not know the number of shares ) he, BACON, hed a Se ecquired. eo. Ronee After the Corporation - was formed, poestbly } PARKER’ and ROSENEAUM had arranged with Winchester, Incorporated (or. ote Sons), in New York City, to act as operators for the ships ~— | in the event the Corporation was successful in purchasing thes from the Maritime Commigsion. In this regard, BACON mentioned © that i1¢ was hie intention and the intention of the other principles of the Corporation to actually operate these vessela. He mentioned that in addition to the purchase price of the #$_ three vessels which had been allocated, he considered it necea-— sary to raise at least $500,000 for use as working capital. The. life insurance company, @&s referred to above, at the last minute. did not make the advance of funds which was contemplated; therefore, BACON took it upon himself to secure capital in connection with this venture. He went to New York on his own ~-. time and contacted several financial houses, the names of which | he preferred not to mention, in an attempt to obtain necessary - cepital to purchase the vessels ané operate them. He was - uneuccessful in his attempts and thereafter felt that the venture would not materialize, and therefore took no further interest | in the matter. He pointed out thet his attempts to obtain >... capital was his sole participation in the activities of the ~ Corporetion other than the discussions concerning 4 its Tormation, which were previously set forth. — ee ete BS L rare on Soe . * ce is te, at 3 oat ah ed ahh or” * “ . Yo ot . yk il fay be Caran A my After thie time, he received a ‘telephone call, a oa was otherwise communicated with by either ROSENBAUM or paren. and wag asked if he desired to sell his stock. He turned over to PARKER his proxies with instructions that he, PARKER, could do as he saw fit, that he no longer had an interest in the — 7 Corporation since pocessary capital could not be obtained $0 © . operate the vessels, 0, ed re ee a ee SD SOP dred Oaimbee Sete bat +: I L) oer tr. sain’ Fie oF Teme 4 ert Re at Sometime later, ‘either PARKER ‘¢ or ROSENBAUM told him | thet the etock had been sold to an operating company (a company ~~ owning and operating ships). BACON etated that he believed * . this company was in New York City and he was told that it was: w . .@n American corporetion and a reputable. ones BACON gould aes i - 75 BOM, recall ‘the name of the company.‘~' - a a rae 3 = aps xe “ ats xe ded . at ~ - wet a i s , : 25 CT ye ae cs a ees a se aia a = aa me OE ae ae ark Ase oe ee 7 & ~ ake a Bee a EES a r eae < aeoy Lane * a eee ar] we, rae net e say. ‘ 4 4 ‘ a e iS te 2 ck Fee = . = a t * i. fige - . + . tam a vor : -¢ *. fe. es foe Sa A eee oe ev iat aol - : , VEE TEPAT FR LTRS ANSEL, oR om? eat ¥ . ee -“ oF ae as ¥: 4 Mass at