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Cochrane, Vice Adm. E. L., Maritime Administrator, United States
Falck, L. James, Assistant Chief, Shipping Policy Staff, State Depart-
Frantz, M. Daniel, attorney, New York, N. Y.
Leece, William A., assistant counsel, Senate Permanent Subcom-
mittee on Investigations..
SCHEDULE OF EXHIBITS
Introduced on p.
Appears on p.
1. American Overseas Tanker Corp. application filed with
United States Maritime Commission for purchase of
20 T-2 tankers, August 27, 1947--2. Amendment No. í to American Overseas Tanker Corp. ap
plication, September 17, 1947.3. Contract of sale entered into by American Overseas Tanker
Corp, and the Maritime Commission for five T-2 tankers,
December 19, 1947.: 4. Amendment No. 4 to American Overseas Tanker Corp. ap
plication, January 22, 1948 5. Charter agreement entered into by American Overseas
Tanker Corp. and Greenwich Marine Corp., October 21,
1947.-6. Bareboat charter entered into the Greenwich Marine Corp.
and Panama Transport Co., October 21, 1947.7. Loan agreement between American Overseas Tanker Corp.
and Metropolitan Life Insurance Co., December 30, 19478. Letters from George Trypanis, David R. Dorn, and Mrs.
Mary Dracopoulos to the Compania Internacional de
Vapores, Panama, August 15, 1950.9. List of stockholders in American Overseas Tanker Corp.
and Greenwich Marine Corp. as of date of transfer, June
26, 1950.10. Minutes of meeting of United States Maritime Commission,
January 22, 1948... 11. Statement from Office of the Secretary of State of Delaware
re certificate of incorporation of National Tanker Corp.,
November 1, 1948. 12. Agreement between United Tanker Corp. and National
Tanker Corp., January 24, 1948 13. Telegram from United Tanker Corp; to United States
Maritime Commission and reply, February 2, 1948, and
February 3, 1948, respectively.14. Contract of sale between American Overseas Tanker Corp.
and United States Maritime Commission, December 31,
1947.15. Letter from George H. Helmbold, Chief, Bureau of Oper
ations, United States Maritime Commission, to National
Tanker Corp., January 31, 1948. 16. Letter from Joseph E. Casey, president, National Tanker
Corp., to George H. Helmbold, United States Maritime
Commission, February 2, 1948. 17. List of stockholders of National Tanker Corp., January 26,
1948... 18. Application of United Tanker Corp. to United States Mari
time Commission, December 10, 194719. Letter from Newbold Morris to Carroll Perry, United States
Maritime Commission, December 11, 1947 20. Letter from E. Stanley Klein to Julius C. Holmes and
Joseph E. Casey, January 21, 1948. *May be found in the files of the subcommittee.
21. Contract of sale between United States Maritime Commis
sion and American Overseas Tanker Corp., December 31,
1947.. 22. Affidavit of Julius C. Holmes, January 30, 195223. Letter from Commissioner Dunlap to Francis Flanagan,
January 29, 1952.--24. List of vessels owned or in the service of companies which
are understood to be controlled by Stavros S. Niarchos'
interests, February 15, 1952.25. Statement re world tanker fleet. 26. Agreement between Robert L. Berenson and Robert W.
Dudley, January 7, 1948.27. Agreement between Robert W. Dudley and the firm of
Goodwin, Rosenbaum, Meacham & Bailen, April 15,
1949.28. Agreement between American Overseas Tanker Corp. and
United Tanker Corp., January 19, 1948--29. Agreement between United Tanker Corp. and Mrs. Olga
Konow, February 3, 1948.30. Agreement between China Trading & Industrial Develop
ment Corp. and the Wonok Corp., February 18, 1948. 31. Agreement between United Tanker Corp. and Mrs. Olga
Konow, December 7, 1949.--31A. Computation of China Trading & Industrial Development
Corp. dry-cargo vessels.32. Cablegram from Sieling & Jarvis to Masters, December 18,
1950.. 33. Compilation of ECA payments for freight on United Tanker
Corp tankers-34. List of United Tanker Corp. charters to Soviet to carry oil
to Communist China. 35. Letter from Secretary of Defense Louis Johnson to Maj.
Gen. Philip B. Fleming, Chairman Maritime Commission,
October 4, 1949... 36. Letter from Senator Richard M. Nixon to Admiral E. L.
Cochrane, Maritime Administrator, and reply, March 3,
1952 37. Statement of legal fees billed by Lovejoy, Morris, Wasson
& Huppuch to United Tanker Corp. for the years 1948 to
1950, inclusive. 38. Copy of libel complaint by Department of Justice against the
steamship Meacham and answer.. 39. Application for remission or mitigation of forfeitures or
penalties with respect to certain T-2 tankers.40. Letter from David Jarvis to State Department, August 18,
1949. 41. Memorandum from Director, Transportation Division,
ECA, to Ty Wood, Assistant Administrator for Opera
tions, ECA, July 29, 194942. Memorandum from Arthur G. Syran, ECA, May 3, 1950. 43. Memorandum from Arthur G. Syran, ECA, to Harry J.
Miller, ECA, July 13, 1950.-44. Letter from Secretary of Defense Louis Johnson to Secretary
of State Dean G. Acheson, January 17, 1950--45. Letter from Secretary of Defense Louis Johnson to Secretary
of State Dean G. Acheson, April 24, 1950.-46. Letter from James E. Webb, Undersecretary of State to Maj
Gen. Philip B. Fleming, Chairman, United States Mari
time Commission, May 18, 1950. *May be found in the files of the subcommittee.
SCHEDULE OF EXHIBITS
Introduced on p.
47. Letter from Maj. Gen. Philip B. Fleming, Chairman, United
States Maritime Commission to Secretary of Defense
Louis Johnson, November 1, 1949 48. Letter from Secretary of Defense George C. Marshall to
Secretary of State Dean G. Acheson, October 5, 195049. Letter from Newbold Morris to Secretary of United States
Maritime Commission, December 11, 1947--50. Statement from Cadwalader, Wickersham & Taft, New
York, February 7, 1951... 51. Press release from the Chinese Embassy, Washington, D. C.,
April 13, 1951.. 52. Letter from Senator Karl E. Mundt to Secretary of Navy
Dan A. Kimball and reply, March 7, 1952, and March
11, 1952, respectively -53. Application for relief from forfeitures filed with Secretary of
Federal Communications Commission, August 27, 1951.54. Letter from Francis B. Goertner, Assistant General
Counsel, United States Maritime Commission to Messrs.
Post, Morris & Lovejoy, February 3, 1948.55. Photostatic copy of entry from office_diary of Admiral W.
W. Smith, Maritime Commission, December, 1948. 56. Memorandum from Commissioner Raymond McKeough
to Chairman of United States Maritime Commission,
December 19, 1949, and attachments.---
munications Commission to Senate Permanent Subcom-
1. Charts mentioned by William A. Leece throughout his
SALE OF GOVERNMENT-OWNED SURPLUS TANKER
MONDAY, FEBRUARY 18, 1952
UNITED STATES SENATE,
OF THE COMMITTEE ON EXPENDITURES
Washington, D.C. The subcommittee met, pursuant to Senate Resolution No. 251, Eighty-second Congress, second session, agreed to January 24, 1952, in room 357 of the Senate Office Building, Senator Clyde R. Hoey (chairman of the subcommittee), presiding.
Present: Senators Hoey, McČlellan, Underwood, Mundt, and Nixon.
Also present: Francis D. Flanagan, chief counsel; William A. Leece, assistant counsel, and Ruth Young, chief clerk.
Senator Hory. The committee will please come to order.
I will ask that if the photographers have not taken all the pictures they wish to, they take them now, so that we may proceed with expedition. We will follow the usual practice of not taking pictures during the time the witnesses testify. Whatever pictures are to be made will be made before the witness begins to testify.
I wish to make a brief opening statement.
Last year the Subcommittee on RFC of the Senate Committee on Banking and Currency received testimony that a group headed by Joseph E. Casey had acquired eight tanker vessels from the Maritime Commission. After the RFC Subcommittee had taken some testimony in connection with these tanker transactions, it decided that further investigation in this case was beyond the scope of its jurisdiction. For that reason Senator Fulbright, the chairman of the RFC Subcommittee, referred this case for further investigation to this subcommittee. At about this same time last year the Senate Committee on Interstate and Foreign Commerce was also making preliminary inquiries in the case and the chairman of that committee also made available to us the results of his inquiry.
The investigation by our staff indicates that the group headed by Mr. Casey purchased and chartered eight vessels through the American Overseas Tanker Corp. and its several affiliates and subsidiaries. The purchase of five of these tankers from the Government was financed through a loan of $9,705,000 by the Metropolitan Life Insurance Co. Thereafter these five vessels were operated under a charter agreement with the Panama Transport Co., a Panamanian subsidiary of the Standard Oil Co. of New Jersey. The other three