◆ SpookStack

een. wats ther 4 as be NY 46-2507 . against this disbursement on January 16, 1948. The remaining $23,000.00 was received from U. S. P. C. on January 21, 1948. Therefore, for the period January 9, 1948 to January a, 198, the U. S. P. C. accout at SSY was in debit position. AUGENTHALER stated that there may have been times when an account and the group of accounts as a whole may have had a debit balance duc to a payment made by SSY for their account, He statcd, however, that this situation would only have occurred when SSY knew that the funds to cover such disbursements were en route to them. AUGENTHALER further stated that SSY never had any security against the accounts of the U. S. P. C. or the foreign ‘groups, stating that he never considered any such security to be necessary. He stated that if he ever considered security to be necessary, he would consider availablo credit balances in necounts within the group aos such socurity, plus the possibility of obtainine maritime liens against the operating revonve of vessels owncd by the group.