◆ SpookStack

. yA i * ! z . § A hoes By t po F raps ikea, 4 ee vb vy on he ot . “% a “ i ga a: ne | aed 4 fe ag 4 . Tagg Oe eo fe 1 7 som fe, we *§ - “a tah are eo YF Tet Sear be “ fae ay eee _ - ou rn cr ae me ee nee ae Calle : ; 4 ~ te ter ae ony ete . PU a I phe Fae ees Set one mo pe * ey ee pooes - 3 => . “5 Bina ae of NY 46-2507 a . : * gaan Position as of December 31, 1950: . re s nan ae Before discussing the results of the investigation ee a . - pertaining to items No. one and two, a resume of the method of” ae handling the SSY account as reflected by the Victory accounting ° records will be set forth. ; a eB or he cm ' SSY acted as Sisbursing agent for Victory. In nich capacity SSY paid Victory accounts payable. a OE Pe we . The Victory records reflect that the ssy account - was carried as a current account receivable. When a cash - a payment was forwarded “by Gictory to SSY, the SSY account was - Pere oT debited by Victory for the amount-of such payment; when a cash. payment was forwarded by SSY to Victory, the SSY account was” - credited by Victory for the amount of such payment. In addition Victory credited the SSY account for Victory § accounts payable os e Victory records reveal that during the period - August 31, 71949 to May 31, 1952, the SSY account had month ending debit balances. During the. oteates Petroleum Ca a ae are - revious investigation regardin [oY ae ncorporated (USPC), SA(A)s oo examined the records of S> - @nd compiled data concerning month ending belances of the USPC is group. From this information, schedule A was prepared show the month ending bilances of the USPC group from May 31, 1949 - through December 31, 1951. A A photostatic copy of schedule a is attached hereto. iy. 7 Le aaa tt. "+g Ag shown on schedule A, the USPC group had ¢ a credit. _ balance’ during most of the period. Schedule A also reflects that Victory had sizable credit balances during | the period September, - 2 —_ = a 1949 through March, 1951. Tnis schedule also reveals that during most of this period USPC hed sizable debit balances. — . - 4s set forth under item 13 on page 38 of New York ~ report dated May 10 CHARLES AUGENTHALER, Partner, SSY,” ty, advised SA(A)s that SSY regarded the belances | in the USPC an assis group package in determining whether ~ or not there was sufficient credit to cover specific payments'® "* requested by an individual company. ee ye OSS eet et EO RBS AfQhie* oo SO oe ; . AO oid ee to _ eae eee . cn . SF oe a ry ™ vs tee : . . a SARS - ae TK fe Ry TT ES vette fee oy . eo + 7" a