◆ SpookStack

WJW:mgh NR 29111951 cl- On October 29, 1976, Assistant United States Attorney AUSA! BART M. SCHWARTZ, Southern District of New York, SDNY!, made available records of the Hudson Valley National Bank for review. &#39; An exa inati of the Folder for C - in care o New York, revealed the following transactions: DATE LOAN TRANSACTIONS 8/22/72 90 day note for $150,000.00 at Prime Rate. Approved byand WALTER HIGGINS* l0/24/72 Note for additional $10,000.00. 4/23/73 90 day note for $160 000.00 at Prime Rate 6%. APPrOved by _an<1 W- J- HIGGINS. 7/25/73 Liability Ledger Sheet indicates loan paid. 8/23/73 90 day note for $210,000.00 at 8% loan approved by Board notation on loan offering sheet with initials FGS. Loan Offering Sheet noted that money disbursed by Wire Transfer throughot Irving Trust Company. Payee not stated. Copy of transfer sheet/in file ll/21/73 90 day loan of $210,000.00 renewed at 8%. Approved by Board per FGS. 3/4/74 and 5/20/74 Liability Ledger indicates loans were renewed plus an additional $40,000.00 making the loan $250,000.00. 11710/14 Liability Ledger indicates that $250,000 was still on the books but tehre are no further notations on the ledger indicating whether it was paid or continued. *These notations of approval were noted on the bottom of the loan offering sheet. The records contain no copies of the actual notes signed by or the applications for the loans which would have noted the purpose of the loan. The HUDSON VALLEY NATIONAL BANK HVNB! records " ...- reflect a loan to the Precision Valve Corpi on May 4, 1974, ofL$l70}000 for the purpose of purchasing an airplane for $470,000 at 11.5%. &#39; The file indicated that PRECISION VALVE CORPORATION PVC! had -15-