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we be, Se ee Nn Pen eieseremamamia See = pa : a “ r te a i + IN NPT 8 er PR, , poy : rine tee ee alata be, . are Totes . ae erin iF ae + 7 it on Ce ere a ly dat Wt de 8 eapte eed * 1 ; era Ry: os x Lai oer ta ye Et = S ae eR I oe ae ee a a ~ NY 46-2507 DEPARTMENT ITEM NUMBER 60 . This item relates to the negotiations leading up to the agreement of January 20, 1949, wherein USPC acquired all of the outstanding stock of the Pacific Tankers, incor- nanmnat oA | alist ateue The following investigation was conducted by SA(A) admiral E. J. MORAN, a member of the firm of Moran Towing and Transportation Company, 17 Battery Place, New York, New York, advised that he was formerly a director of Pacific Tankers, Incorporated. He stated that the negotiations in the geile of the capital stock of Pacific Tankers, Incorporated ee oe re ee od ee ed owe ee Bg ee a Tw eee to USPC was institutcd by himsclf at the request of the Board of Directors, He stated thet the dircctors forcsaw a decline in the tanker market and after considerable discussion, decided /to sell their intcrests in tankers. He stated that he por- ' sonally made considerable inguiry relative to possible pur- chasers of Pacific Tankers, Incorporated, and as a rosult thereof discussed it with ROBERT BERENSON. He stated that the negotiations wore conducted by J. M. WARFIELD, Executive eS ) be bie - . Nice-President.of Pacific Tankers,.Incorporated,..under the :- seer. secs rs ‘supervision of JOHN i. MC CONE for Pacific Tankers, Incore porated. He stated that he believed that ALLAN CAMERON also took part in these negotiations on behalf of Pacific Tankers, Incorporated. He stuted that USPC was represented in these negotiations by ROBERT BERENSON and probably NICOLAS COKKINIS. He stated that .RISTOTLE ONASSIS took part in these nego- tlations, but he was not aware to what oxtent. He stated that ROBERT BERENSON and the Secretary of ---" USPC, name unknown, were present at the closing for USPC and J. M. WaRFIELD was present for Pacific Tankers, Incorporated. He further atated that USPC was olso represented by the legal firm of Lord, Day, and Lord, whercas Pacific Tankers, Incore porated, was nob re ypresonted by legal counsel, He stated that & Mre ROCKFELLOW of tho Schroder Bank and Trust Company was also presont 4s escrow agent in this transaction. He statod that ADSM .. Fe CARTER, J..W. HiNES, J. M. FRANKLIN, S. D. and K. K. BECHTEL, «ALDEN ROACH, and T. RIEBER took no part in these “ negotiations other than authorizing tho sale. - _— - . -128-