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wre ee _ | NY 46-2507 Coe a Te _ Og aay oY cana is An snalysis of the Victory Capital Surplus accouit: 3 MRE £ from May 27, 1949 through’ July 31, 1949, revealed that the 74% Seg ; wee. capite] surplus was sctually paid into the company by USPC. Tees pel eg pe There is set forth below a schedule showing dates and amounts ase | mk: of the cepital surplus paid into Nictory by USPC: Lo TTSER a ’ Victory Carriers Incorporated OL ree as se Pie I ee ae EL Capital Surplus Account OU SSUES Bee DATE AMOUNT BALANCE ae ee /49 $ 852,000.00 $ B5z, 000.00 aa eee Ba 6/29/49 ° ~~ ~_ 787,000.00 23035215650) Se 7/14/49 ~~: 280, 500.00 ~ 35215,715050 oe: 7/28/49 11,8 000.00 , 3,363,715.50° Re 1/29/49 © 238,000. 00 ~ 32598,715-50 oe ge 1/25/49 00.00 3,007,215. Se, Total ¢% ae . Lurie ef EL ‘. a qe ¢ “ . As set forth in the above schedule with the exception — ‘of the July 14, 1649 Belence, the balances in this account are in . * #!¢, agar Te ms, agreement with the balances shown in the arthur Anderson and. se Company certified balance sheets submitted to the Commlasion. we Ne i The arthur anderson financial statement as of July 13, .°- BE oe sop per tee ‘balance of -$3;225,715.50-on- July-135--1949= 7 nether ‘aa than a balance of $3,215,715.50 on July ly, 1949, as set forth | ae dn the above schedule. This discrepancy is probably due to the ._. ee! fact that the amount of §1,180,500.00 actually received on =°° os _suly dts 1949, was included in the July 13, 1949 delence. ~~ . mee vO " An examination of the USPC books end records was made" : to determine the original source of the total amount of $3,607215.. 50 that was invested by USPC in the capital surplus of Victory. “7 gg: ‘There is set forth below a schedule showing the original —_ source of funds used by USPC to make its investment of #3,607,215. 50. es age in the capital surplus of Victory. ee £s ~ - ee The following information concerning the National City. m, ay - Bank loan of May 27, 159, and the National City collateral loan... —— which were the chief source of funds for the USPC investment in. _ the Jastery capitel surplus account is set forth below: yb