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SCHEDULE 2.-Balances of construction-loan notes, United States Maritime Com

mission, as at May 31, 1937Continued Colombian Mail Steamship Corporation, and Colombian Steam Amount ship Co., Inc.

$2, 654, 510. 00 Dollar Steamship Lines, Inc., Ltd.

10, 103, 526. 10 Eastern Steamship Lines, Inc..

3, 586, 800.00 Export Steamship Corporation, The..

4, 981, 144. 78 Grace Steamship Co., and W. R. Grace & Co.

6, 493, 219. 50 Gulf Pacific Mail Line, Ltd.

25, 538. 00 Mississippi Shipping Co., Inc.

243, 237. 96 National Motorship Corporation.

76, 175. 07 North Atlantic Steamship Corporation, and United States Lines Co...

6, 133, 408, 00 Oceanic Steamship Co...

7, 588, 125. 00 Panama Mail Steamship Co.-.-.

4, 897, 632. 00 Seatrain Lines, Inc.-

1, 902, 919. 20 Transatlantic Steamship Corporation, and United States Lines Co..

6, 205, 760. 00 United Mail Steamship Co., and United Fruit Co.

7, 189, 187. 50 United States Lines Co. and American Lines Co...

17, 371. 80 Waterman Steamship Corporation.

474, 639. 12 Total, construction-loan notes.--

80, 001, 415. 04 Total number of notes, 734. SCHEDULE 3.Balances of miscellaneous notes, United States Maritime Commission, as at May 31, 1937

Amount Export Steamship Corporation, The.

$173, 686. 56 Herland, L. L.

1, 529. 36 Hernandez, B. Frank.

1, 122, 77 Long, R. L. and J. W..

340. 00 Miller, Philip, and Charles

50. 00 Morey, Richard..

10, 000. 00 Postal Telegraph-Cable Co.

30, 000.00 Tampa Dock Co.-

10, 331. 24 United States Lines Co..

563, 792. 61 Total miscellaneous notes...

790, 852. 54 SCHEDULE 4.Balances of receivables other than notes, United States Maritime Com

mission, as at May 31, 1937 Capital stock: Fairview Realty Co...

$2,000.00 Potter, J. A. Co.--.

5, 670. 00

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Mr. WOODRUM. What about other properties of the Shipping Board and the Merchant Fleet Corporation that came into the possession of the Maritime Commission?

Mr. GIBBONS. We have a complete balance sheet as of October 26, 1936, which lists everything that was taken over from the Fleet Corporation. A balance sheet is now being prepared as of the 15th of April 1937.

Mr. WOODRUM. I think the committee understands that these statements which you are giving us are furnished as the best information that you have, and then you propose, if the authority which you ask is granted, to bring this information up to date and then speak with authority concerning it?

Mr. KENNEDY. Yes, sir.

Mr. GIBBONS. What we have here is the October 25, 1936, balance sheet. As soon as we get a copy of the April 15 balance sheet we will send it down.

You might be interested in the schedules or, if not, we can send you just the summary sheets.

Mr. KENNEDY. I think the committee would be interested in everything that we have.

Mr. WOODRUM. Can you prepare a summary of this detailed statement that you have given us?

Mr. GIBBONS. There is a summary in front of that statement. Mr. WOODRUM. We will put that in the record.


Balance sheet of U. 8. Shipping Board Bureau and U. 8. Shipping Board Merchant Fleet Corporation as at Oct. 25, 1936



Cash and unrequisitioned appropriations.
Accounts receivable and claims.

Due from sundry debtors.
Due from foreign governments.
Accounts receivable of managing agents.
Due from ship sales.
Due the insurance fund.
Estimated recoverable value of claims in favor of U. S. Shipping Board Merchant
Fleet Corporation..

Notes and mortgages receivable and securities.
Notes due:

Construction loan fund.
From ship sales.-

From sundry debtors.
Miscellaneous securities.

Balance sheet of U. S. Shipping Board Bureau and U. S. Shipping Board Merchant Fleet Corporation as at Oct. 25, 1936-Continued


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$2, 164, 026.00

$14, 614. 49 18. 435. 38

Accounts payable and unclaimed wages

Due sundry creditors...
Due foreign governments.
Unclaimed wages, salvage awards and other unclaimed items..
Accounts payable of managing agents...-


$225, 952. 73

42, 079. 13 1, 552, 475. 36

376, 568. 65

$211, 338. 24

23, 643. 75 1, 552, 475. 36

376, 568. 65

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Deposits on sales and other contracts not consummated
Reserve for protection and indemnity-insurance claims and expenses.

Total liabilities, for general purposes.
Accounts payable from insurance fund.
Reserve for-

Claims and unearned premiums, insurance fund.
Claims and accounts payable, claims fund.

Operation of vessels taken back from purchasers.
Net worth

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221, 678, 601.78


Tentative balance sheet of United States Maritime Commission as of Apr. 15, 1987


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