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eee ee | | ae) § | ‘ont é~ ~) ct NY 46-2507 SS HERMAN F. WHITON to perform the agreement. The sconsecue | tive voyage charter was to extend to the last loading date, * September 30, 1949, and the cargo was to be discharged at a United States Atlantic port. a that in the spring or early - , sumier of 1949 the firm had an opportunity to increase oil 57 operations, which is their main business, but needed ready ee cash for the purchase of the additional 011 preducing properties, As the firm had decided they had a-disproportionate amount of capital invested in the shipping business and as the firm was \ faced with a layup of the $8 WHITON at a cost of $200,000 a Ror rn Li cree am pa ee ee ae es ae Lad ; year after the vessel's completion of the Standard charter ) pt due to the tanker market collapse, it was decided to sell the vessel. As an inducement to buy, it was decided to sell both an thea ae LUIIMON ana ¢ho CO BIIDNOAN fe sn alen an Aan Pa Pee ee | bit OO . WOELVN 2G C8 bo BDulivos an a PacCAuge aéar at a Tsaucéea ae price and include the assignment of the Compagnie Francaise de Raffinage of Paris charter. The assignment of this charter to be performed by a new owner of the vessel was somewhat ,dubious as the United Statos Maritime Law does not clearly - indicate the rights of the new owner or the person chartering > the vessol nor had & precedent becn set in this matter; there- fae i oe ores er ated Oe Gn : P fore, this was a risk that the buyer would-.have bo assume. - x Led As for the Standard charter, it was known tnat Standard was Sa ~. willing to pay an agreed price to be released from their Ld charter agreement. vt ‘ es that at this time It) A Chase National Bank, s sted t Gq 4 SSY @ct as a broker in the selling of the vessel. 4 Subsequently, Mr. CHARLES AUGENTHALER of SSY made 3 an offer for a client which the firm tentatively accepted. - AUGENTHALER'S client was Mr. NICOLAS COKKINIS, who was associa a ee ey te er ee 8 ated with R. L. BERENSON and A. S. ONASSIS. Mr. COKKINIS at the time was representing A. 8. Onassis, Incorporated, a trust set up for the son of ONASSIS. ; eee . ae ee “Se that his memory is vague concernings%_ the trust ‘an sc zenship status but knew that the United States Maritime Conmission did not approve of the sale of the ve aa Tae te