◆ SpookStack

ERT VL PPR! ar er ae 12% at ¥] tn rotten See” Beh a, es a LE ee neha Me es ded BS ae Ste yale ors ee wae ee a a ns cane ime 7 “7 ( be $ NY h6n2507 * were asked whothor the §700,000,00 roceipt from ARIONA on Docamoer 29, 1950," wos nocessary for SIMPSON, SPENCE & YOUNG bid to have paid the $75 50, 000200 to Victory Carricrs on the same bh] RD 220 2s: AUGENTHA LER y Partnor, SIMPSON, SPENCE & YOUNG, date, SUGENTHILIR maintained that he had no knowledeo of the mattor sho ls presently abroad, roquirc ; of 200 becsuso the proup of companics as a whole would have gone "into a debit position upon the pnymont of the $750,000.00 without said receoipte ; in examinetion of the Cash Roccipts Journal of Victory Cerricrs, Ince from the inception of thy corporation to January 15, 1951, revealod that the chief source of funds wore capital investments mado by USPC end tho chertor hire paid by Transe atlontica Financiora Industrial, Panomoy S,Ae On Jenuary 15, 1951, according to tho Victory Cerriera, Inc,’ books and records, this company hed a cash balance of $613,267.19 bcforo the issuance of any checks on January, 155 1951.6 On Janucry 15, 1951, Victory carr iers, Ince check -number 591, in the amount of $127,600.00, was drawn payable to National City Bank, \ccording to the Cash Disbursoments Book ond tho Genornl Ludger, this chock was a 10% downpeymont on the HEYWOOD BROUN and SS LEVIS DimRY, JR. The books ond rocords of Victory Carricrs, Ince reflected that in actucl 26% downpzyment wos not made directly to the Maritime Commissions Instcad, tho abovoementionod 10% payment was mide, Victory Carriors, Ince then rcceived class Qllowanecs for thu two vessels which wore of sufficicnt amount to be considered the balanco on tho 25% downpayment, The class clloweneos woro for repairs made by Victory Carricrs, Inc, which voro nocessury to placo the two vessels in proper oporating condition,