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a een Fy raducg™ ope ES Fa Seeds Et 7 Par ey Oe aN ans HAT ARS aye wes ral "| PRAT At hs iets _ Shoes enh Brel ay r¢ ran A: wigs ahi ee i ek SRR) Bet eR) ce nn ~ AY Ee rer ene re nr, ct to ch rt | a ART sm SNE cE TTURMNTTS (C tee ‘ ' 5 : eth ede tet eee ne ae EE Re ee a Ps ~ NY 46-2507 . "T hereby certify to tho best of my knowledge md belief this Balance Sheet is a true and correct statement of the financial affairs of Victory Carriers, Inc. for the period ending December 31, 1950, adjusted as indicated in footnote," This Balanco Sheet contains the following footnote: “Indicates increaso in Capital surplus . 6,000 deposited on January 15, 1951." . In certifying tho other Balance Sheet, BECKER made the following statomont: ; . "T horeby cortify to the best of my knowledge and ‘boliof this Balance Shect is a true and correct statement of the financial affairs of the Victory Carriers, Inc, for the’ poriod ending December 31, 1950. Thereafter, on January ill, 1951, and on January 15, 1951, sums aggrogating $406,000 were received by the Corporation and credited to the following - accounts in accordance with the purpose for which they wore récolvod; $81,900 to capital surplus, and $325,000 to nonecurrent accounts payabic," Photostatic copios of tho Balanco sheots certified by BECKER and BERENSON ero being forwarded as enclosures numbered 11 and 12 with this reports an examination of the Genora]. Ledgor of Victory Carriers, Inces revoaled that as at Docember 31, 1950, the company had a ° eash balance cof. $1,h2), 360,31, An analysis of the Cash Receipts Journal of Victory Carricrs, Inc, reflectod that a deposit of $750,000.00 was made on Decombcr 29, 1950, to tho account of Victory Carriors,' Ince According to the oxplanation in tho Cash Receipts Journal, the sourco of the $750,000.00 was SIMPSON, SPENCE & YOUNG, -115-