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oy : Shoe pe wegen brah ss re a. et . ae iar Tt oak tel V@UF FB. 7a: Pore Cee ad ta RAE SG BET wesgteea, > . et “yh ye at . ah NDE te * th My dtu ohh ake paeetieg tine a he ie eee eh Ted ge ae a he ce ele x te SP oo rie why eng rat heady ere? OCS ATL DAE 4 oh OR SR By BETS - iy Keay oat es LA 46-2054 - - Se OTL eee yang Yeo “The McKITTRICK HILLS was chartered to Groupement ‘2-7 t D'Achat des Carburants, @ semi-official French Government Ft. 3 Agency, for two years, and the MONTEBELLO HILLS was char- me tered to various parties on a voyage basis, > +. — 4 ae ae er on ti! a sn 7 “About the same time the company entered into a= contract with the War Shipping Administration to operate = a fleet of Government-owned tankers. Pacific Tankers ab ~ Inc, was selected as one of four operators. ‘This contract, and renewals thereof, are still in existence, having been .0-7. transferred to Joshua Hendy Corporation for reasons meas "7 tioned later, 2-2. nee teen ee EE « e. = Be eg cng "Because of unfavorable conditions in the charter ; market, which developed in the summer and fall of 1948," decision was reached to dispose of the tankers, The = -..¢) directors of the corporation approved such a sale and 22.74. Admiral Moran, at the request of Mr. MeCone, offered the © tankers to the United States Petroleum Carriers, Inc... % who were interested in purchasing tankers, and who, it - was reported, had recently acquired ships directly from the Maritime Commission, ; ee "It was recognized that the United States Fetroleum * 7 Carriers were represented in negotiations by Messrs. Onnans and Cokinnis, in addition to Mr. R. L. Berenson, the .:..27:: president, and therefore, management and directors were | concerned about the nationality of the purchasers, \ - * “The purchasers desired to buy all of the outstanding _:--/- stock of the corporation as by so doing they would acquire -~1+ title to the ships, and, in addition, would ascen¥ to the .-* purchase contracts which had been arranged by Pacific | ;. Tankers, Inc. and which carried with then 1 mortgages. “wets : att Le he or 7 yet Sota a _ Ae, pe ee Seg? peta cade Emaar ye kil "On January 4, the firm of Kirlin, Campbell, Hickox @ ie weu- & Keating gave us an opinion that the sale of stock was fakoe aie. controlled by the Maritime Act of 1916 and they, therefore,:+2a2;7- - advised us to secure affidavits conceraing the citizenship nf 7s: of acquiring companies, and to present the affidavits of - 7c: r citizenship to the Maritime Commission when seeling their approval of the transaction, This was done. We not onlyss secured affidavits of citiz 2's a