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a La Ly va c i ar Oe ph gag! iron fu oe ri * 7) Lh a . eu 4 + ee Wnts ht wy ogy ‘ a ' 7 ao Pa ow - os “wy 46-2507 - wore TE Se ns eae ‘Vietory Affidavits: . -° ene ae a “OS Ttem three of the: Departuent memorandum states ay “that on page 115 of New York report dated May 10, 1952, . fares iia, the cash balance of Victory es of December 31, 1950, was $1,42),360.31; on page 120 the cash balance is show to ~*~ _ have been $813,267.19 on January 15, 951, before Lesuance o of any checks that day. 77 , Item three further states that this would seen to indicate that §611,093.12 was disbursed in 1, days. It wes requested ‘thet it be determined what these disbursements — were, their nature and to whom made and how instant disbursements affected the validity of the monthly affidavits filed with se maritime. ; ge Before commenting on the investigation conducted ‘under te item No. three, the following information is being set forth. | its . . a In connection with maritime mortgage ek, Victory was tee requested to submit monthly affidavits (form MA-46) to the ri United States Maritime Commission. A blank copy of form MA-\6 te is being submitted as enclosure No. two with this report. , ie As set forth on form MA-46,. Victory ‘werely executed + ree cee the affidavit unless seid transactions set forth in paragraph two a ee had been consummated. Paragraph two is set forth below: -y: both dates inclusive, no capital hes been withdrawn, no share [oe cepital redeemed or converted into debt, no divident paid, no loan {4 or advance (except advances to cover current expenses of the said if Company) made, either directly or indirectly, to any stockholder, y 7% director, officer, or exzployee of the Company or to any related ty company (as defined in Section 259. 1(q} of United States Maritime wae . Commission's General Order No. 60, as adopted by its successor, - Moy the Maritime Administration, and amended from time to time), no oe investment made in the securities of any related company (as .- Ce defined in said Section of General Order 60), no indebtedness to po. Bs any stockholder, director, officer, or employee of the Company, yn :atq-- or to any related company (as defined in said Section of General - Pe ut _ Order 60), Which was classified as long-term or noncurrent in any eee balance sheét submitted with the "Application (or anendment fhersto) i. - J eetgee ote. . Rela a ist 40 Oe ane” oe ’ . oe > Ko 1 SERRE aL - 2 Bw as ogre poss wee ~