◆ SpookStack

ee eee ee “ieee re [ol eelial ae investigation was conducted by SA(A) cm The operating results of USPC for the years 1%,8 through 1951, as reflected from the company books and records, were analyzed to determine the profits made by USPC from the operation of the- vessels CAMAS MEADOWS, FORT BRIDGER, IAKE GEORGE and ARICKAREE, From this analysis, the results of the operation of USPC are summarized as follows: ~ ra aft Oper ration of Operation Gi CAMAS MEADOWS STONY POINT FORT BRIDGER CAMP NAMANU Total LAKE GEORGE and ‘Other Operations und ARICKAREE BATTLE ROCK Activities Profit or Loss before Federal Income Tax 194.8 § (17,05).0,) $ 182.05 $§ ~« $( 17,236.09) ~ oe 19h9 293,612.30 8,52h.49 43,628.46 (158,710.65) 1950 69,726.53 72,865.14 632,350.82 (235,469.43) 1951 52,040.63 139,640.22 662,91761h (150,516.73) Total . 1948-1951 $1,398,325.42 $221,211.90 $1,739,096e42 $(561,982.90) Details of operations for the four-year period, 19,8 through 1951, are included in Exhibit E attached to this report. Details of operations for each of the four years are included in agent's work papers. In reference to the division of operations reflected in the above schedule, the following is to be noted: The operation of the CAMAS MEADOWS, FORT BRIDGER, LAKE GEORGE and the ARICKAREE consisted of time charters of the first three tankers and & bareboat charter of the latter tanker to the Potroleum Carriers of Panama during the four years.