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eT Gt a detiahel tial PPE aye, es domme Pb er Se atle | eNpEpRE Se : Para Oa i A ” = ue, SPS EY ge ENE . Rage GE RL AL pibaiay Dorit a ark Ran aeee tty ae ETE TARE Oe ree PY ye ate, NY 46-2507 , ay 'e atated that he knows of no reason for Victory Carriers! theck to SIMPSON, SPENCE & YOUNG being certified, He stated tmt he was not aware of this check being certified until a request for a copy of this check was made by this office and he assumes SSY. obtained this cortifioation, | He stated that the renson the check of January 2, 1951, was poid to SIMPSON, SPENCE & YOUNG approximately four days after it was roceivud from SIMPSON, SPENCE & YOUNG was because he was instructed to do so by the President of Victory Carriers, Incey ROBERT L. BERENSON, He stated that it wes his understand= ing that the President was acting in this regard on the stocke- holders! instructions. lie also stated thet he does not know why the stockholders wanted theso monies returned to SIMPSON,’ SPENCE & YOUNG. a review of the minutcs of the,Board of Directors mecting of Victory Curriors, Inc, felled to reflect an authoriza- tion or request for the transfer of the $750,000.00 to SIMPSON, SPENCE & YOUNG, 2 4 PECKER atated that he knows of no situation where “SIMPSON, SPEHCE & YOUNG diverted the funds of one concorn for the use of another concern, He stated trat ho hes never seon SIMPSON, SPENCE & YOUNG'S books and, therefore, does not know what uso SIMPSON, SPENCE & YOUNG made of the various companies! monios advanced othcr than inking regular disbursement for these concerns, . ie the records of SIMPSON, SPENCE & YOUNG by Sa reflocted that by lotter dated Decembor %a9, b? 1950, H. UO. PeChER, aSsistant Treasurer, Victory Carriers, INCey mede the following * request of SIMPSON, SPENCE & YOUNG: "Plonso lst us heave your check for $750,000 against the amount wich is credited to our account of your books gl! a photostatic copy of the above letter is being forwarded with this roport as enclospre number 1h, -_