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ere L sath ie ie ae ’ pererars Ce i? have been made by Lazard Freres, =... =. «we 5 Cc ll t _ be NY 46-2507 BERENSON stated that during October, November and December 191.7, many other individuals had applied for tankers to the United States Maritime Commission and were contacting the various financial institutions in an effort to arrange financing for the purchase of the tankers. He stated that because of this the financial institutions told him and others to come back when they had a definite allocation of tankers from the United States Maritime Commission, BERENSON advised, however, that in his case he was able to arrange a time charter even though he had not roceived the allocation. Through the efforts of JACK VINING, BERENSON fixed a time charter at the rate of $h.50 for five years with” Jupiter Petroleum Company, a French subsidiary of Shell O11. These arrangencnts were consummated through Mr. BAXTER in chargo of charters of Shell Oil. Once ho had the timo charter fixed, BERENSON thought Aan ee eee ee hasten fam Ghat awA it woulda be a good LOG to WOPR lls” ough the UIA LU eso dd MIR Jupiter in order to compicte his financing. He was referred to Lazerd Freres who wes the banker for Jupiter Petroleum. -In this matter, the French Government had to approve the loan which would BERENSOW advised that this was considered very impor tant for the French economy since France did not have any tankers avail~ able. As a guarantee on tho financing to insure that Jupiter would parform under the charter, the Sheil oil Company arranged rY ee WwSethi Wis ad late a7 alleen = Dol to “have its subsidiaries, Asiatic Petroleum Corporation and | Anglo-Saxon, gunrantoe the chartor performance. BERENSON stated that even in fact the French Governmcnt itself offered to put up a considerablo sum of moncy as a guarantee of performance by Jupiter. However, duc to the existing condition of French internal political problems, no ono would take the risk and the entire financing fcll through. Purine Oc tober and 1s rober 21 inquiries of BERENSON in regard had offered help in this matter. NASSIS had made ing programs and BERENSON stated that the United States Maritime — Commissjon allocated four tankers to USPC during the latter part ,