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i | _¢ i -. Q BR : Owe soe aI PLA Se me eet ae gee de: 7 Rnb enieines dete ee fb NY 46-2507 | . 3 >to to give tho exact roason for this nrrangemont. Ho [- : explainod that it wes in eccordanco with oa pattern of te socurity that USPC was planning at the time, . oo It wes pointed out to BERENSON ‘that tho t revenue under a fivo-yoar bareboat chartor at 92.00 per ; dead weight ton would amount to tho same figure os total revemuc for tho first ten years undor & twolvo-ycar bareboat eat g1.00 per tone BERENSON stated that thore _ was probably an exccllont reason for entoring into tho b twolve-ycar bereboat chartor at 41.00 por ton, but could to not recall oxactly what the recson Wass sale by USPC on May 10, 1948 of ell of its stock in r Fe troloum Carriers of Panama to MIRAFLORES wes solely nw eatoate ad ¢hyat TICTOA antanr.d Intn an 7 : . BERENSON cdvisod that the reason for the a financial once He BuisbNbs bade b Uary Vlei Ladi Gide arrangement with HIRAPLORES whoroby the vessels chartercd by USPC to retroleum Carricrs of Panama would | be guaranteed $1.00 pcr dord woight ton, barcboat. _- - minimum, for e period of of ten yoars, Ho statod it was te Pa ¢ » oF a : a “Ris judgment ft thé timc that it was nocossary for vsra™ CREE to obtain the sccurity offered by such an errangomonte a He concoded thrt over e short-time period of fourtcen or fifteen nonths, the original arrangoments, > four ee. ee ee wae wee wee mwascee SLi Se whereby USFC charter vessols to Petroloum Carricrs of Fanama, its wholly-ownod subsidiary, and Petroleum Carricrs of Penama in turn voyage chartered those vossels, would be a moro profitablo arrangomonte ere epee, go fala natn area BERENSON oxplained thet USPC enterod into this arrangomont to sccuro a fixed incomo for ‘tho next “4 ten yuars and avoid the possibility of a drop in the Ss tonkor markote ha tg ee Ree ae BERENSON cloimod that ONASSIS nover influoncod a him to cntcr into charter crrangomonts with Petroloum Carriors of ¥Yonamo or Transatlantica Financtora Industrial, Pe ee oe | 4h wn dt . vonama 5, dae HO statod tnat it was his firm b boliof that fe — =