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a © 4 hag ar , ct . “Neg LA 46-2054 | : oe | _ . "Following these - ‘transactions, the shipping met activities not sold to United States Petroleum Carriers, : .- ae ae Inc, were operated under Pacific Tankers Division of ... oe Joshua Hendy Corporation, and are still continuing under ; a that management, - oS ee "Following is a list of the directore and officers — wee of Joshua Hendy Corporation: ae : . =y Directors foots K. K. Bechtel ae Beg ew pets S. D. Bechtel — - 7 R. L. Bridges i Allen Cameron 1 LOO i CU ae 7 t John A. McCone 4: ts i. $. Alden G. Roach fe Be ee - - Officers ui 3 John A. McCone President ae S. D. Bechtel Vice President aw K. K. Bechtel - Vice President of o& Allen Cameron Vice President os 4 . J. M. Tescher Secretary and Treasurer 4 - W. C. Ryan Assistant Secretary : "Mme important considerations in the entire trans- action are these: "a) In the original purchase of the tankers from the Maritime Commission, the stockholders of Pacific Tankers, Inc. provided the corporation the net worth and the net quick position sufficient to qualify for the acquisition of . the two ships. Pacific Tankers capital “~" 0" ” structure was provided from its original . eapital and earned surplus, substantial new — — eee ere Whe ft eee funds subscribed for common Btock and, °©- © ---~- finally, the assets of Industrial Equipmént .. ee Co. which was merged into Pecific Tankers, ~~ <*>. wo + * + é omer ake De ERE al at oe if . vi ‘ on he. . "os ENB ye a or aA . cage . < a bd 7 . . vr. . ‘ ot hae aim . . WP akaett . wt a |: Mood. . . 4 . i" ! aT akp: . AES ore a el wre itat ae! ‘ ‘ i Gat we a vos Lr " on : " * ab Re ‘ ! ete Inc. Wo stockholders’ loans nor outside 9 “Leo ere loans were put forward to qualify the COP ne aed - ole poration under the Maritime rules, CR ST Bebe” 4 a oon ert ‘eg Ao, é wore ~ St a af : i) at Buy Se ‘ ot or arb), Sere Mest Re gt te, ayer