◆ SpookStack

oo“, 1 1 j [ay ali Ail llgste dn nals ease teeta ! 4 i { ! (i | . " 1 I o ~~ C Ny 46-2507 of December 1947. Whon these tankers were allocated to USPC, BERENSON had not made financial arrangements to purchase instant tankers. During the period tp to the allocation of the tankers, ‘ DUDLEY and ROSENBAUM kept in contect with the United States Maritime Commission in an effort to make sure that some tankers . would be nllocated to USPC. BERENSON also went to the Maritime : Commission from time to time to follow up on the matter, woo . oe at : ee hee aE ‘ ina dak hk Aa 11 ad. RN i weep + seo . ee per Sp ee FO a ere ita te eS oye TE. I os baie aol oe PAC nel Bide ae 1 oof coe ee i al BERENSON stated that it was his recollection that USPC had about ten days to make the down payment on the four 4 tankers. He stated that at this time he had a net worth of |: about $7,000. and had no personal means to raise the down pay- . ment, . . ; BERENSON stated he telephoned ONASSIS and made an appointment to discuss the possible financing of the four : tankers. He told ON/SSIS that he had been unable to make é _ financial arrangements for the financing of the four tankers. _ BERENSON advised that he realized that he had no commitments in regard to chartcr hire for the vessels, inasmuch as the Jupiter deal had fallen through. He further did not have the 4 . financing or money needed for the down payment on the four . eo {othr -¥esseis:-namely,-$204,000.--aptete,-which.was.due tn aboutctencscsse Se : days. , 3 BERENSON remarked that had he received an allocation ' in October he believed that ho could have financed the down pay- H ment and the other sums needed to purchase the vessels. However, at this point his immcdiate problem was to secure money to meet the down payment duc in the near future, ONASSIS offercd to loan USPC about $800,000.00 to meet the down payment on the four tankers. In return for this loan, ONASSIS wanted a substantial stock interest in USFC. BERENSON offered to permit ONASSIS to subscribe for the unissued capital stock of USPC, BERENSON accepted ONASSIS' offer to ndvyance arproximnataly hon AON.NO far the down navmant on tha BES weeding Wee gue aE Vdd MSs Pe ieee sk Wee four ships, He also agrced to pormit ONASSIS to subscribe to the 400 shares of unissued capital stock at $250, per share, for a total prtce of $100,000.00. BERENSON was unable to recall how ~* the price of $250. per share was arrivod ate - me ~~. fo - te