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t NY 6-2507 . DEPARTMENT ITEM NUMBER 68 cf This item deals with the purchase by Paci Incorporated, of the vessels SS HERMAN F. WHITON and SS WILLIAM A. M. BURDEN from the Union Sulfur Company, Incorporated, New ie | | 7 York City, for the amount of $1,800,000. i Union Suifur- b&%y S Company, 33 Rector Street, New York City, advised SA(A) : wa that the firm of Union Sulfur Company, Incorporated, upplication on October 29, 1947, with the United States +: Maritime Commission for the purchase of four T-2 tankers. This [- application was later amended for one additional tanker. United oe s States Maritime Commission allocated the Union Sulfur Company, Incorporated, two tankers and a contract of sale for the vessels »& was signed on January 13, 1948. The allocated tankers were the SS OREGON TRAIL, renamed SS HERMAN F. WHITON, and the SS BROOKFIELD, renamed the SS WILLIAM A. M. BURDEN. The : -WHITON was purchased at a price of $1,505,352.00 and the BURDEN i for $1,583,723.63 Ubon signing the contract of sale, a depogit- Wr a ae ETERS ORR bap phe ype) Pe Rp igo Fa eee Ae Oo iat ee wy eee em of $202,660.00 wus maue for each vesse1. The balance of the purchase price was pa’d in cash upon date of delivery. The cash used for this purpose wus from the company's own funds&e ogre a airs “tb .- On February 14, 1948, Union Sulfur Company, Incor- porated, signed a two consecutive voyage charter with Compagnie Francaise de Raffinage of Paris at a rate of United States ' Maritime Commission Rate Order 438 plus 175 per cent and come mitted the SS WILLIAM A. M. BURDEN to perform the charter agree~ ment. On the same date, another charter was signed subject to the approval of the United States Maritime Commission, which | was later granted, whereby Union Sulfur Company, Incorporated, chartered the SS BURDEN to Compagnic Francaise de Raffinage of --" Paris at United States Maritime Commission Rate Order 38 plus sixty per cent for as many consecutive voyages as could be performed by the last loading date, December 31, 1950. , Ee ke Rt ae ite heey i The Union Sulfur Company, Incorporated, on April 30, 1948, signed a consecutive voyage charter with the Standard Oil Company of Now Jersey, at a rate of United States Maritime Commission Rate Order 138 plus fifty per cent committing the -138- _ ae