◆ SpookStack

’ _ . 7 7 ° : " ° : _ , eae “sth ST ast he ae . 2s $. ‘Under contract MCC 62235 dated May 25, 1949, Victory ~ we vA Carriers purchased 7 Victory ships from Maritime under mortgage aldo 1s; fi: ~g oe Onder Maritime General Order 60, Victory Carriere bad. ‘tos _ Bs meet specified financial requirenentse os 423. sree eel tdi liae BU oe Fi okie manne Ma + = who * RA Under the contract Victory was allowed to qualify tor ‘each: pee Te nae vessel before title passed. Thereafter, Victory was required to sain Tite . tain working capital and # net worth sufficient to support the continued 4 j--— ra, - oe RE ae ne, eae SR ee — . ; mortgage aids ; poi we Te dete se TL ee LARLY = peaaprin “.. ere : SY Paar “uy et ra me go et eee os we OA Tee Tan re Sie sel The seven Victory ships were ‘cquired (title passed) under... , 7... the contract between June 28, and October 6, IMGs tres BRR Toe oe . To meet the financial requitement of General Order 60," Victory Carriers submitted to the Coumiseion ’ certified balance _ sheets as of the Following ¢ dates oor Deed ¥ June 29, MG we “. Jaly 13,199 6 ee Joly 31,1989 = 7 0 heey, a Po August 31, 1949 ee a oe Robe oe oer ae oe . CS eabieeeaaer 2 2 These financial statements were certified by the fire of Arthur Ander son and Company, 67 Wall Street, New York Citye 202 0200 Tag mse Srp ge age ot These balance sheets set forth the cash position nd paid » “ “an capital surplus, of Victory on the respective dates as followss. a eee el L abo ct June 29, 1949 eee 883,287.50 1 ee 1 as July 13, 1949 eee 1,699 ,862.50 ~ ees BE mugust 31, 199 ee 1,633,927 veer 607,215.50 , . the correctness of the above-noted cash positions should gg. powe. 5 °> be determined and also whether the capital surplus was actually paid 3°" *-- to into the company, These funds should be followed to determine their *?23-~ original source. USPC will probably be shom as the. source.(If ek cae Renta doans are involved what was posted as security for the loans?) 7. aiead ee or me indi os aie ; Hee . The ‘incone and distursenents of Victory (asomts over 22 ae 7 " $5,000.00) should be obtained | and Selledaled for the period May 25, 3 “3 1949 to January 15, 19500 Lae PES., al oe yet, Ba Meee ce “ge ys “Deternine if there were any other exchanges of funds * td Rr eT Verge s amounts between Victory and its parent company or race : oie Speace and Young during the years 1949 = 1952, inclosivee A eheck oo. 2. of amounts over $100,000.00 is suggested, | S ie ‘goo7 a Pat, 15h te Creek tis nichdeaened apts a eR GET SURE é ora eee Tee, fe BAGS! ¢, er