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‘at jan Ww ye, a) we : 7 3 5 s = E e fe z e Va pe YS! a es LTE RTE, L caatetall Le ated fae ts haa Wy. yf Pa im “ rs 4 ~ ted = e + Poy te att eae ea hats the wee nq iw va ated en reed age Rig a res a Wate wa ad, 1 ee rote thay eg ot + KY 1,6-2507 Se, rr rn ‘om :) SERED nade aveilable a typed copy of a : memorandu; cae et ‘dated May 19, 1948 from R, L. BERENSON to A. C. STOREN The last paragraph of this memorandum is set orth DeLow; a ey cat aS et aS a eto "ynder the Time Charter with Petroleum Carriers of. (°°: | Panapa, United States Petroleum Carriers, Ince, will oo veeras: £2.70 per deadweight ton per. month, ‘for a period of ten Yoars s :. * on the FORT BRIDGER, CAMAS MEADOWS, and LAKE GEORGE. On the.. ARICKAREE, also owned by United States Petroleum Carriers, we . have a bareboat charter to Petroleum Carriers of Panama for he a period of twelve years, and on the American Marine Mahima CAMP NAMANU, STONY POINT, and BATTLE ROCK, we also have a. hanahknnt’ fan 2 nantad nf é¢ualdwa weasanrna fan anna Anllan naw” as "ll oe Oarseovay s2O0P mw Pors,6G Gi CwWOLTS FORLS 10f SONS “USssar por .. deadweight ton per month.* tte - _ po PS eos ae F: Pe It appears from the above paragraph that ‘BERENSON assumed that CAMP NAMANU, STONY POINT, and BATTLE ROCK would» ; be bareboat chartered to PETCAP for a period of l2 years for +2) f: $1.00 per dead weight ton per month. witte oth aS od . na # ee ARS sey he oe As shown on Schedule B, the net profit before Federal Income Taz from the operation of the STONY POINT, CAMP NAMANU. Te Te woe oe he ow nee & § i bt ob - and BATTLE ROCK for the period 1949 through 1951’1s aoe The figure of $1,739,096.42 is based on vessel revenue a various expenses as shown below: — a . otis at ae Sieg bes or » Vessel Revenue .. — $ 3,390,103.99 oe a Various Expenses . ° 651 007. at RS . Net Profit Before Taxes: $ 1,739,096-42 The above vessel revenue in amount of $3,390, 103.99 | oe is based on a bareboat charter between American Marine Corpo Oras tion and Socony Vacuum 011 Company at the monthly rate of $2.00 ~':- per dead weight ton. If American Marine Corporations request 25°. to bareboat charter its vessels to PETCAP at the monthly rate... of $1.00 per dead weight ton had been granted, vessel perenne. oe would have been halved or reduced from $3,390,103.99 t eas #1, £93 0022-99 Since the charters would have been ‘bareboat Ka . . . = . "LY ao 4