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i NY 46-2507 . AUGENTHALER, as previously noted, stated that the Erinamar account contained a large credit balance during this period. He stated that such credit balances would offset the otherwise debit balances of the group as a whole, Examinetion of the ledger accounts relative to the U. Se P. Ce. group revealed that overdrafts exlating at the end of certain months in 1948 and 1949, as reflected on Exhibit “H, were paid within a short period efter the close of the month in which the debit balance appears, For examplo, as of the end of May, 1948, the U. S. P. C. group accounts had a debit balance of $98,207.79. The ledger account refiects receipt by | SSY of $90,000.00 to be epplied against this debit. This receipt was on June 7, 19 BY The balance of this overdraft of $8,207.70 was received by SSY on June 28, Overdrafts exiating at the end of June wore cleared by July 15, 1918. Overdrafts existing at the ond of July, 1948 were cleared by August 16, 1948, This same procedure was — followed in connection with overdrafts at the end of other months as reflected by Sxhibit H. The ledger account of U. S. Ps C, on the books of SSY | reflects that on January 9, 1948 a disbursement was made by SSY to Chase National Bank in the amount of $202,650.00, A- letter dated January 9, 1948 to the Chase National Bank . instructs thet institution to tronsfer $202,650.00 to the ; Riggs Bank, Washington, D. C., in order that Riggs might issue a check in the same amount to the Maritime Commission, The books of SSY reflect that this disbursement was reimbursed - by U. S. P, C. to SSY on January 13, 1945. To On January 13, 1948, a similar disbursement was made to Chase National Bank'in the amount of $227,650,00 with instructions to transfer these funds to Riggs National Bank in order that Rives might issue a check in the amount of $202,650.00 to the Maritime Comnission and a check to ROBERT DUDLEY in the amount of $25,000.00. Paymont was received by SSY from U. Se Ps. C. in the amount of $204,650.00 to be applied - a _ ~ ~ 2. ‘ att * pet ial St ee ee: pet hone F. ae pe SE AE sw. ihe 2 Relais 6 ee wilh “ened. vt teeey ee “= ~ testes at - _— . cae -~ ee ee ee me _ ~~" ; 2 ee . prver St -