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ore Perec a ae ee . 2 aoe ” im Lilkeld Oe a went whale "8 . te EE pe EN ae NY 4642507 In this respect, it is noted that Exhibit 21 of the . U. S. Maritime Cormission report dated May 2h, 1951, a letter from ROBFRT L. BEREUSON, President, USPC, to ARIONA, dated June 22, 1948, indicetes that ARIONA will furnish to USPC the funds neces- gary to make paynents on the mortgages of the FORT BRIDGER, LAKE GUORGE and CAé' AS NSADOWS. 7 Exhibit 23 of this same Maritime report, a letter from R. L. BERENSON, President, USPC, to ARIONA, dated August 16, 198, states as follows: aa ‘we have now made arrangements with the National City Bank of New York and it will not be necessary for you, in the future, to place us in funds, but only to furnish the bank with collateral to guarantee our loans. -"We shall, accordingly, as of the next due date, Aurust 26, 1948, discontinue the arrancements set down in our letter of June 22. In the future, will you kindly arrange the guarantee of our loan at the National City Bank of New York by placing collateral with them as amounts fall due under our mortgage loans in accordarice with the schedule of due | dates which we have sent you. "Will you please confirm your arrangement with the above procedure and also confirm that the collateral which you will deposit with the National City Bank of New York will be left with them to cover any renewals of the loans from the bank which we may require for a period up to ten (10) years."