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Charter of Princess Patricia to Princess Cruises, Inc. Canadian Pacific Railway. British Columbia Coast Steamship Service Jun 21, 1966

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 /   /^
CHARTER OF "PRINCESS PATRICIA" TO PRINCESS CRUISES, Inc.
SEASON N0VEM3ER 1965 - MAY 1966
SECTION »A»
COPY OF CHARTER PARTI.
FEASIBILITY STUDIES OF PROJECT BY LEO SKEEHAN' & CO, SEATTLE.  .
LETTER FROM M1RINE SUPT TO PRINCESS CRUISES RE FAYING OF CREW METERS
TAKEN ON SHIP AT LOS ANGELES BY PRINCESS CRUISES,
COMPARISON OF ALASKA OPERATION WITH SOUTHERN CRUISE SERVICE.
•DETAIL OF PERSONAL EXPENSES INCURRED BY SUPERINTENDENTS BCCS.
SUMMARY OF COSTS ABSORBED BY BCCS TO FEBRUARY 1966
MST OF EXPENSES TO BE ABSORBED BY VICTORIA MACHINERY DEPOT,
ESTIMATE OF INVENTORY SHORTACES ETC UPON RETURN OF PR.PATRICM.
NET OVERALL COST BETWEEN CHARTERING SHIP AND LAYING DP AT VICTORIA.
DETAIL OF OUTSTANDING ACCOUNTS AGAINST PRINCESS CRUISES AT JUNE l&th, 1966.
^SECTION "E^K      ~>
DETAIL AND OI_m__7IOACEON OF RESrOIJOIDILITY OF VARIOUS COOTS
INOIMIBD DY "PRINOBOO PATRICIA" 3UDSEQUE_.l IU BEING TAKEN'
OVER ON CHARTER BY PRINCESS CRUISES.
SECTION »C"
DETAILS OF "ON" AND "OFF" INVENTORY OF 'PRINCESS PATRICIA"
SECTION "Dw
EDIFICATION DETAIIS INCLUDING CHARGES FROM VICTORIA MACHY DEPOT.
Vancouver, B.C., June 21st, 1966*
 Ca/iadian
VaBcowmr* B* Caj, June 15th* 196
Auditor of Diabnrs0Bi©nts#
lltmtrealf P# Q#
AmOTIONt Hr. Esasxiit, Chief Clerk*
As per RS oonTtrsatioB date*
Aceotmtant, BCCS#
 )LU!BIA CGUST SfEA^BIUP SWlVWs*
»>. .     - /* \. "     .•' i . -   ■ -j ' l .* i
SB.
tit       WAGES &
on      na
iav 1965
ll/P-6
jffly^lS
p sic.
I 1965
i?vm
Jan 1966
Vf-5
lib 1966
Bte 1966
...
1966
■ ** •
,    ■m:"
$77,000.00
$1,585.97
$   50.G4
% 78,636.01
,000.00
♦ 834.73
• 70,834.73
71*355.61
$ 7,835.56                                        # 10,366.71
09*597«tt
,574*3?
7,61003
86,184.50
67,914 .80
6,512.45
136.26
74,563.51
",055.45
6,138.85
14.25
* '    • '
796.33
6,344.73
5,548.40
'366,103.90
154,441.72 2 834.73     01,585.97 I 10,366.71
'00.55
I413#f    .
Jsm &_W,, - M®$m$mlM.^Mmm
Reeelired on 1
wak&aamm
foieatosr 1965 Audit notes ana oredltod to
i «PrPatricia" - ehertesw^s share of overhaul.
Tffm to b© sad* account *4ay wages roeoneiHatS
;.-.".:    '. - ■ 2                 . .:   •      ,    .-.'..• 'nn i,-"-*n- c
«HP__W- '-ft      ■ '.&4 e
41,000.001
♦564,533.
Accountant, BCCS., Pier "B", Vancouver, B.C.
Jum 15th, 1966*
 /     ^^ -pa      ^i .	
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BCCS   <ANBC    Yf
M118 h. INCE3S CRUISES BILLS 352©"$ 70,831. .73/BAIANCE OUTSTAIOING
$».73'11057 $89,557.88 BALANCE 0/3   $19,557.88 AL90 OUTSTANDING
ARE SILLS    13268 $36,18*. .50 15505 $7^563.51 AN) 17727 $8,208.55
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-wcc:    Mr. H. Tyson,
^ Marine Superintendent,
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 SirrTAM OF NET INCRBASI IN K0MSES
to caiadiak pacific acoouut »prikcess
PATRICIA11 ON ACAPPICO Spg	
Vouchers and -purchases, 70,248
SfeytafMM. on inventory!
Linen, 2,500
Crockery and glassware, 2,200
Silwrware, 1,500
Steward marine stores* l|iOOO
Electrical    • 600
Beck Dept     * 1,300
Engine Dept   I 1*300         10,400
(Some prices estlimted)
(Linen taken at seoond**hsnd mine)
Increase in shop repair coats over previous years,      2,587
Stores issues directly attributable to
Acapulco service, 7,649
Saving In ship staff payroll!
Oct 1964~!%y 1965 t9S,329
Oct 1965-Tfey 1966   7ty*f    9Hm&
Saving in lay up coats excluding vages,
Xx Adds Estiisated coet of docking ship and preparing
for second yearfs service including deferred
maintenance, 25,000
let increased expense for tSe year charter,     $49f999T ^y/C>/
/
A
Office ©f the ^ferine Superintendent,
Vancouver, B. C#, June 9th, 1966#
p
 <x
SUMMARY OF NET EXPENDITURE TO CANADIAN
PACIFIC ACCOUNT - ^PRINCESS PATRICIA11
ON CHARTER TO PRINCESS CRUISES, INCt,
 TWO YEAR TERM _
Vouchers and purchases, 170,24.8
Shortages on inventory:
Linen, 2,500
Crockery and glassware, 2,200
Silverware, 1,500
Steward marine stores, 1,000
Electrical   n 600
Deck dept    » 1,300
Engine dept   ,! 1.300         10,400
(Some prices estimated)
(Linen taken at second-hand value)
Increase in shop repair costs over previous years,   2,587
Stores issues directly attributable to
Acapulco service, 7,649
Saving in ship staff payroll:
October 1964-May 1965      198,329
October 1965-May 1966  737^ m&tff
M*r 40,33^
Saving in lay up costs excluding /**cy$ r^<0
wages, 22.160 Y* *<£-'_
^yyrJSSL * 2   y^m&^
Add: Estimated cost of docking ship and preparing
for second yearfs service including deferred
maintenance,
Net increased expense for two year charter, f '   $S0* ^viJ \ */
KX    facU^Joifc    *At&&& ~7&  €k*X£/L   y>*y&<tstcs*<*x3<?
Office of the Marine Superintendent,
Vancouver, B. C., June 9th, 1966*
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^
 EXPENSES TO BE CHARGED TO ACAPULCO SERVICE
ON ACCOUNT OF "PRINCESS PATRICIA*
Seaboard Electric $1,102
Dunn Rug & Upholstery 4,01
Avalon Cabinet Shop 242
McHaffle & Greenwood 700
B. C. Telephone Co 208
Calgon Corporation 15
Bray Refrigeration Co (Pt of Vo $1290) 542
Dowell*s Cartage 12
Island Tug & Barge Co 315
Empress Hotel /           954*
Capt. Murray and Black 1,153
Burrard Dry Dock Co 80
Pacific Leasing Co 859
Transmarine, London 170
Medical 8
Cartwright Coatings, 246
Crest Motel 37
Prtevince of B. C. 224
Receiver General of Canada 387
Agent*s Dept Freight Account 200
Canadian Ice Machine Co 207
T. Eaton & Co Ltd. 378
Dockside Machine & Boiler Wks 13,739
Lloydfs Register of Shipping  482 & 92            574
Victoria Machinery Depot 25,392
King Bros, Victoria, Customs brokers 1,795
Miscellaneous 734
Food Supplies 1,586
Fuel oil Consumed and PrArtncial Tax 2,744
Canadian Marconi Co 4*092
Harbour Boat Building Co - gangplank 1,605
Wesley, J., Personal expenses 47
Agent1s Dept A/c cartage 38
CPJ6           n 26
Currency delivery charges 84
Jones Stevedoring Co - lifting propellors, 109
Dohrmann Hotel Supply 206      W&
S.E#Rykoff - hotel supplies 429
J.M.Costello   *     etc. 1,357
Abbey Rents 87
Seaboard Electric 853
¥% B Services 28
W.Hutchinson & Sons 343
S.I.U.Longshore - cleaning ship 1,677
Marine Radio 1,757
.IvH'M.M'S.      .H'l.H'SKM.i l» _.«r .-..    .»•:**. •  i   .
USf     Et 6/737 • (51.08      7,276 Can %
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-    .,
 CANADIAN
P A C Tj
British Columbia Coast Steamship Service
^^^
Detail of expenses incurred by Can Pacific account conversion and otfctr expenditures on HPr.Patricia" due to charter to Princess Cruises, Inc.
1965 1966
SOURCE OF CHARGE
i   B. C. Telephone Co,
A
4
A\
4
/t\
A
**?.
A
r   Calgon Corp*
v'Bray Refrigeration,
A Dowell*s Cartagttl
4 Island Tug & Barge Co,
Empress Hotel, Victoria.
Capt's G.C.Black & H.J.Murray
Burrard Drydock Co, Vancouver.
H.A.Scotty Ormiston
Pacific Leasing Corp,
Transmarine, London
Wilson, Dr. H. E.
Cartwright Coatings, Ltd.
Crest Motel, Victoria
Province of British Columbia
Receiver General of Canada
Agent's Dept Freight Account
ff  Canadian Ice Machine Co, Ltd.
T. Eaton & Oo, Ltd.  0V7 ^
A\  Dockside Machine & Boiler Works,
n\  LLoyd's Register of Shipping,
Miracle Products,
m  Victor!^ Machinery Depot,
f\    King Bros, Ltd., Customs Brokers,
ft    Miscellaneous
Ship wages, during overhaul,
Repair shop labour, during overhaul,
Hardware Issues,
! Linen Issues,
Laundry Issues,
Food Consumed,
Fuel Oil & Tax,
Canadian Marconi Co,
Harbour Boat Building, gangplank
J. Wesley, personal expenses
Agents1 Dept Account, cartage and shipping charges,,
C^.fechandise Services,    7*~   . *
Currency delivery to purser • Audit notes,
Medical el
|   Avalon Cabinet Shop.
Dunn Rug & upholstery ^
Princess Cruises - Lloyd's Register $92. Cleaning Snip 1665
Seaboard E_Lectrle $768 - $334
Treasury charge for handling checks.
/ Joneo^Stotdg Co "tl0,8»73/Dohrmann1iotel Supply $205.b9/StfijR
1 F^r^^xr^^fOfSae^ard Electee $853.ffyAhboy Ronti fl
Septr
October   Novbr     Decembr
12
315
81
600
1,509
188
y-
\y\'t^\ Geeteft&L^^ & B Service'$2Jyffi/4_o_.p|at for foyw f841.37 (Paid by Purser)
/^^^^(^W^utcliiiidto^; Ouiia $342.01/Marinfe IjMioA$l,757.23/fi,.T.TTJ^gahnTg $y6ff%g3. Total $9,608.38 US.
Costell©'Supply Co, Invoices received btftf not yet vbuehered.   $397.©3 UEy Fundi ________
A     I
702
1,153
80
895
144
17©
5
171
143
-621
37
224
40
77
8,223
7,557
5,970
213
1,289.
U3
352 _
25,790 ,
8,662 ,
7,916 _
321 v
1,586
I 2,744
93 .
87 J
5*178 J
1,780 _
360 s
1,722 J
25*392
1,795 J
298 J
975 ]
5,695
2,705  25,189  48,607  44,807
Jany
Awaiting
Febry    Invoices
//***«
15
1434
130^
1074
n,959
122.
3,008
'"3
io
i@#377#©5
428.7^
5,531     18,633     10,806
&r
Cost of Modification - "Pr.Patricjia1*
Personal expenses, Messrs .Tyson, Aird, Tumilty
Gross recorded expenditure to Feb 28/66
215■
il
82 >
553,
TOTAL
Jr s
la
16
1
3
42.
401 i
42
401
757 J
757
1,102,
1,102
8.
8
10,377
429
2tQ43
l536,658
 STATEMENT
Seaecaed Electric Cc_d_pc_paticn
MARINE    ELECTRICIANS
PHONE TERMINAL 4-3653
314 MARINE AVENUE
WILMINGTON,  CALIFORNIA
CANADIAN PACIFIC RAILWAY CO.
PIER "B*
VANCOUVER, B.C. CANADA
FOR A/C T.E.V. PRINCESS PATRICIA
%  TRANSMARINE NAVIGATION CORP.
PIER fC« - BERTH 21
LONG BEACH, CALIFORNIA
APRIL 19, 1966
JANUARY 28, 1966 INVOICE 60057
JANUARY 28, 1966 INVOICE 60042
TOTAL DUE
145.50    y
370,07 y
515.57
YCP
Manufacturers ef
PRODUCTS
 &fGpft
ON    BOARD   5 S	
CHARTER "PRINCESS PATRICIA1*
Repair and other charges incurred which should
be the responsibility of the Victoria Machinery
Depot, Ltd.
PAID Thorpe Insulation Co.
PAID Dockside Machine.
PAID Quality Refrigeration Co
PAID Roger Light Hart Co
NOT PAID Westinghouse Electric!
AWAIT BIH. World Wide Travel Service,
*
$506.77
807.05
686.41^»*>3
3,726.57 xxx
1,995.38
$7t??7tg? Canadian
Funds;
/Cf»3f
Received cheque from VMD in the amount of
$3,666.08 on Feb 18th, 1966.
CP*. j&>^ 714lSL^ *|g ff
Vancouver, B. C., March 29th„ 1966.
 ON BOARD SS	
CHARTER "PRINCESS PATRICIA"
Repair and other charges incurred which should
be the responsibility of the Victoria Machinery
73y6f>&      Depot, Ltd.
PAID   Thorpe Insulation Co. $506.77
PAID    Dockside Machine. 807.05  ^x
PAID   Quality Refrigeration Co       686.41^-"*"^^
PAID   Roger Light Hart Co 3,726.57 xxx
NOT PAID  Westinghouse Electric!       1,995.38
AWAIT BILL World Wide Travel Service.      235.35
$7.957^53 Canadian
Funda
xxx    Received cheque from VMD in the amount of
$3,666.08 on Feb 18th, 1966.
Vancouver, B. C, March 29th,, 1966.
'p
 C A N A "I A N     PAC
British Colui||l
Detail of expenses incurred by Can Pacific account conversion and ||phi
OF
SOURCE OF CHARGE,
B. C. TelepTloHe~Co7
Calgon Corp,
Bray Refrigeration,
Dowell's Cartage,
Island Tug & Barge Co,
Empress
Hotel, Victoria.
CapVs G.C.Blackl& H.J.Murray
Burrard Drydock Co, Vancouver.
H.A.Scotty Ormiston
Pacific Leasing Corp,
Transmarine, London
Wilson, Dr. H. E.
Cartwright Coatings, Ltd.]
Crest Mstel, Victoria ^
I      I
Province of British Columbia
Receiver General of Canada
Agent's Dept Freight Account
Canadian Ice Machine Co, Ltd*
T. Eaton & Co, Ltd.
Dockside Machine & Boiler Works,
Lloyd1 s I Register of Shipping,
Miracle Products!,
Victoria Machinery Depot,
King Bros, Ltd., Customs Brokers,
Miscellaneous
Ship wages, during overhaul,
[ •    |      I
Repair shop labour, during overhaul,
Hardware Issues,
Linen Issues,
Laundry Issues,
Food Consumed,
Fuel Oil & Tax,
\ Canadian Marconi Co,
Harbour! Boat Building, gangplank
J. Wesley, personal expenses
shipping
Audit notes,
Agents f| Dept Account, cartage and
CiP.Merchandise iServices, ,",
Currency delivery to purser - Aud:
Medicai chagges>
Avalon Cabinet Shop.
Dunn Rug & Upholstery
Princess Cruises - Lloyd*.s Register $92
Seaboard ELectrlc $768 -|$334
Treasury charge |for handling checks•
charges j
Cleaning Snip $665
/Itf*1?
7Jones S'tevdg Co "$10/8.73/Dohrmann Hotel Supply $205.89/S.E.Ifcr_c6ff $1,352.59
j F.L.Maftin fl24.70/Seaboard Electric $853.07/Abbey Rents $144.35        j .
tcA\ Costell'o Supply $2,172.82/B & B Service $2$.87/Carpet for foyer $841.07 ^^Wi^t^l
^W.Hutohinsan & Sons $342.8l/Marine Radio $1,757.25/S.I.U.Longshore ^1*6'77-?f»^ #9,608.38 US
Costello Supply;Co, Invoices received but not yet vpuchered.   $397.03 US ™
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i&fC
Yy
  PRINCESS CRUISES
PRO FORMA STATEMENT OF OPERATIONS 1965/1966 SEASON
(Without audit)
j&*#y
VOYAGE NUMBER
NUMBER OF PASSENGERS
•** * U>£&iv&Si       +*>*■ **>f
#1
224
#2
292
#3
233
#4
231
#5
175
\*Utf
la o i?
Ia44
ic^n       #**       ft**/"
#8
#9
191
tyt
#10
191
2,168
PER
BUDGET
(UNDER)
OVER
BUDGET
INCOME
Cruise   income                                     $143,665     $190,116
Travel   agents'   commissions 12,479 16,996
$153,180
12,846
$149,850
12,551
Other   income,   net
$131,186     $173,120
3,549 3,690
$140,334
3,068
$137,299
3,224
OPERATING  EXPENSES
Charter  hire
Crew wages
Conversion
Overhaul
Repatriation
Passenger   services
. ue_.
and  oil
\rv
Repairs and supplies
Port charges
Insurance '•
Advertising
Administrative
Amortization
Interest expense
$119,450
10,750
?108,700
3,000
TOTAL INCOME $134,735  $176,810  $143,402  $140,523   $111,700
$ 13
392
$ 18,042
$
14,136
$ 14
136
$  4,650
40
079
40,079
35,000
35
000
35,000
1
4
650
4,650
4,650
4
650
• 4,650
3
813
3,813
3,813
3
813
3,813
1
872
1,872
1,872
1
872
3,000
8
407
8,407
8,407
8
407
4,000
12
960
15,680
13,320
13
240
11,000
10
140
10,140
10,140
10
.140
10,000
1
2
511
3,246
2,973
3
200
3,000
5
844
5,447
5,957
5
581
.3,000
12
271
9,578
10,075
9
650
10,000
3
7 90
3,790
3,790
3
7 90
3,7 90
29
965 \
29,965
29,965
29
965
10,000
26
065 j
26,065
26,065
26
065
10,000
5
622
5,622
5,622
5
622
5,622
1
098
1,098
1.098
1
098
1,098,
$182
479
$187,494
$176,883
$176
229
$122,62^
?(47
744)
$(10,684)
%
(33.481)
?(?5
706)
$(10.92 31.
$161,392
||Mf525
$128
11
452
560
$125
11
000
250
$125
11
000
250
$125
11
000
250
$1
421
125
105
457
$1
408
126
680
781
$
12
(1
425
324
^6,867
:1b,soo
$116
3
8 92
COO
$113
3
750
000
$113
3
750
000
$113
3
750
000
$1
295
32
648
031
$1
281
31
899
640
$
13
749
391
$150,36.7,
SI 19'
892
$116
750
$116
750
$116
750
n
327
67 9
n
313
539
$
14
140
252
000
650
813
0C0
,000
,200
U),
•it,
>,486
000
650
813
1,500
4,000
11,840
10,000
3,000
3,000
10,000
3,790
10,000
10,000
5,622
1,098
33,
4,
3.
8,370  $
33,000
8,370
33,000
8,370
33,000
4,
3,
1,
4,
11,
650
813
500
000
640
4,
3,
1,
4,
11,
650
813
500
000
640
650
813
000 -'
000
10,000
3,000
3,000
10,000
3,790
10,000
10,000
5,622
1,098
10,000
11,640
10,000
000
000
000
000
10,000
3,790
10,000
10,000
5., 622
1,098
10,000
3,7 90
10,000
10,000
5,622
1,098
114,204
352,158
46,500
38,130
28,988
57,628
126,720
100,560
30,130
40,829
101,574
37,900
179,860
164,260
56,220
10,980
114,204
274,350
46,500
38,130
14,000
15,000
128,820
135,000
30,000
40,000
70,000
35,000
100,000
100,000
15,000
10,980
•fta,lftg  $ (4.907) $ (6.733) $ (6,733) $(12,233) $ (158,962)
77,808
14,988
42,628
(2,100)
(34,440
130
829
31,574
2,900
79,860
64,260
41,220
$14Q>1&5  $124,799  $123,483  $123,483  $128,983  $1,486,641  $1,166.984  $319.657
Ml
—-
 li.
v
I
7:
SPECIAL FEASIBILITY STUDY
T. E. V. PRINCESS PATRICIA
SOUTHERN CRUISE - WINTER SEASON
\>.
 *v
I.
HIGHLIGHTS
Breakeven point
62%
Maximum cruise revenue
$14,075 per day
Maximum passenger capacity
Net income per day, at 85% capacity
325 persons
$2.575
Number of cruises per season
10
Length of cruise
14 days
-
■■. 3
»_-__j_-_--___
 LEO SHEEHAN, C.P.A.
ROY BUMSTEAD, C.P.A.
BRUCE BEATTY, C.P.A.
LEO SHEEHAN & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
739   WHITE-HENRY-STUART   BUILDING
SEATTLE.   WASHINGTON   98101
MA in 3-0262
January 27, 1965
Investors Group
T. E. V. Princess Patricia
Gentlemen:
We have prepared the following statements and schedules forecasting
the operations of the T. E. V. Princess Patricia, cruising under
charter between Los Angeles and Acapulco.
Comments
Pro Forma Operations Per Day
Pro Forma Operations Per Trip
Pro Forma Operations Per Season
Cruise Statistics
We have endeavored to obtain and use the most reliable information
available and, barring unforeseen circumstances, this report should
present a fairly accurate picture of future operations.
Sincerely,
A ,     /
7
J    Y
■ -<i&i
 COMMENTS
The following comments have reference to the source and/or method
of computation of the estimates contained in the accompanying forecasts.
INCOME
k
>
_
Cruise Income
The T. E. V. Princess Patricia has a maximum capacity of 350 passengers, not including extra passengers berthed on cots or roll-away-
beds.  At the proposed rates ranging from $35 to $64 per day, maximum cruise income would be $15,125 per day.  However, after allowances for a doctor and his facilities, a cruise director and complimentary passengers, maximum paying capacity has been considered
to be 325 passengers at a total of $14,075 per day.  This amount
has further been reduced to provide for a 10% travel agent's commission before arriving at net cruise income.
Other Income
Gross profit on liquor sales represents a nominal value for bar and
packaged liquor sales.
No provision has been made in the accompanying statements for income
to be derived from the cigar stand or gift shop.
CHARTER EXPENSE
s
J
Charter Period
The charter period is estimated to begin on December 1 and end on
May 1 of the following year.  This 151-day charter period is scheduled to be used as follows:
Pickup and return of vessel
Cruises - 10 trips (§> 14 days
Slack time
DAYS
6
140
5
TOTAL 151
All estimates contained in the accompanying forecasts have been
based on the 140-day operating period.  In addition, provisions
have been made for the expenses to be incurred during the 6 and 5-
day non-revenue producing periods.
.
 Wages
Wages art"
Railwav
b  ed on estimates received from the Canadian Pacific
(C....R.) during preliminary charter negotiations.
All crew members will be supplied by C. P. R. under their union
contract, and paid by them.  Periodic reimbursement will be made
to C. P. R. for furnishing the crew.
Charter Fee
The basic charter fee asked by C. P. R. is $1,000 per day, plus a
charge for one-hali of the ship's annual overhaul.  The charter
group's snare of the overhaul is estimated not to exceed $41,000.
Ship Con-, i r s ion
Prior tc o: crating in tropical waters, the vessel will require air
condition ing and conversion of the water system.  The cost, of this
work is estimated to be $2 50,000 which will be paid by C. P. R. and
charged to the cruise group at $50,000 per season.  A major consideration to the group is the disposition of this balance if the
vessel were to operate less than five seasons.  No provision has
been made other than the $50,000 per season.
Repatriation of Crew
Under the terms of the crew's union contract, the members are entitled to be returned to their home port for vacation.  The cost of
exchanging the crew has been included on the basis of one roud-trip
ticket from Los Angeles to Victoria, B. C. for each crew member.
It is improbable that 100% repatriation will be required. C. P. R.
has ample replacements for crew members requesting repatriation.
OPERATING EXPENSES
Food Costs
Food costs are computed on the basis of $250 per day for the crew,
plus $4.25 for each passenger.  This amount should provide the
passer.;, rs with first-class cuisine.
Fuel ,;
Launci:
The p:
by C. P
change
il
at
Supplies and
Maint- :iar.ee and Repair
sions ior these expenses are based on costs experienced
R. in actual operation of the vessel.  Adjustments for
locale have been made where necessary.
Insurance
The insurance provision has been based on continual coverage of
the vessel under C. P. R.'s existing insurance.  The rate therefor
is computed on C. P. R.'s past experience in operating the ship.
 m
te
Port Charges
Port charges are based on information received from the Transmarine
Navigation Company and include pilots' fees, towage, customs, immigration, agency fees, baggage handling, etc.  The only adjustment
to their figure was a reduction of custom charges in the amount of
$600, as arrivals in Los Angeles will not be on overtime rates.
It is possible that these port charges could be reduced through
negotiation with the parties concerned.
Administrative Expense
Administrative expense has been provided for at $250 per day.  Items
considered under this category include manager's salary, office help,
legal and accounting fees, stationery and supplies and other administrative expense.  No provision has been made for salaries to any
members of the investors' group.
Advertising
Advertising expense has been provided for in an amount equal to 6%
of breakeven revenue.
This provision includes costs for direct advertising as well as
brochures and travel agency pamphlets.
Operating Expense Contingency Allowance
An amount equal to 5% of operating expense has been provided to
serve as a buffer for unforeseen operating expense.
 T. E. V. PRINCESS PATRICIA
PRO FORMA DAILY OPERATIONS
SOUTHERN CRUISE
(Based on 140-day operating season)
PERCENTAGE OF PASSENGER POTENTIAL
i
85%
75%
1
$9
55%
,150
50%
CRUISE INCOME
$11,975
$10,550
$7,050
Less travel agents' commissions
1,200
1,050
925
700
$10,775
$
9,500
$8
,225
$6,350
Gross profit on liquor sales
200
175
150
125
GROSS INCOME
?:
L0,975
?
9,675
$8
,375
$6,225
CHARTER EXPENSE
Charter                    '
$
1,000
$
1,000
$1
,000
$1,000
. Crew wages
2,025
2,025
2
,025
2,025
Conversion
350
350
350
350
Overhaul
300
300
300
300
Repatriation of crew
100
100
100
100
Pickup and return of vessel
(6 days)
175
175
175
175
Charter slack time (5 days)
125
125
125
125
?
4,075
?
4,075
?4
,075
$4,075
OPERATING EXPENSES
Food costs
$
1,425
$
1,275
$1
,150
$  950
Fuel and oil
700
700
700
700
Water
25
25
25
25
Supplies and laundry
325
300
275
250
Insurance
175
175
175
175
Maintenance and repairs
50
50
50
50
Port charges
650
650
650
650
Administrative expense
250
250
250
250
Advertising
525
525
525
525
?
4,125
$
3,950
$3
,800
$3,575
TOTAL EXPENSE
?
8,200
?
8,025
$7
,875
$7,650
NET INCOME BEFORE
CONTINGENCY ALLOWANCE
$
2,775
$
1,650
$
500
($1,175)
5% OPERATING EXPENSE
CONTINGENCY ALLOWANCE
200
175
175
150
NET INCOME (LOSS) PER DAY
^,575
?
1,475
T
325
(?1,325)
Breakeven point = 62% of passenger potential.
 ri.
T. E. V. PRINCESS PATRICIA
PRO FORMA OPERATIONS PER TRIP - SOUTHERN CRUISE
(Based on 14-day cruise)
PERCENTAGE OF PASSENGER POTENTIAL
lor
INCOME
85%
75%
65%
50%
CRUISE INCOME
Less travel agents'
commissions
$167,650
16,800
$147,700
14,700
$128,100
12,950
$
98,700
9,800
Gross profit on liqx
sales
$150,850
2,800
$133,000
2,450
$115,150
2,100
$
88,900
1,750
GROSS
$153,650
$135,450
$117,250
?
90,650
CHARTER EXPENSE
Charter
Crew wages
Conversion
Overhaul
Repatriation of crew
Pickup and return of
vessel (6 days)
Charter slack time
(5 days)
OPERATING EXPENSES
Food costs
Fuel and oil
Water
Supplies and laundry
Insurance
Maintenance and repairs
Port charges
Administrative expense
Advertising
$ 14,000
$ 14,000
28,350
28,350
4,900
4,900
4,200
4,200
1,400
1,400
2,450
1,750
2,450
1,750
$ 14,000
28,350
4,900
4,200
1,400
2,450
1,750
$ 14,000
28,350
4,900
4,200
1,400
2,450
1,750
$ 57,050  $ 57,050  $ 57,050  $ 57,050
$ 19,950
$ 17,850
9,800
9,800
350
350
4,550
4,200
2,450
2,450
700
700
9,100
9,100
3,500
3,500
7,350
7,350
16,100
9,800
350
3,850
2,450
700
9,100
3,500
7,350
13,300
9,800
350
3,500
2,450
700
9,100
3,500
7,350
$ 57,750  $ 55,300  $ 53,200  $ 50,050
TOTAL EXPENSE $114,800  $112,350  $110,250  $107,100
NET INCOME BEFORE
CONTINGENCY ALLOWANCE
5% OPERATING EXPENSE
CONTINGENCY ALLOWANCE
$ 38,850  $ 23,100  $  7,000  $(16,450)
2,800
2,450
2,450
2,100
NET INCOME (LOSS) PER TRIP $ 36,050  $ 20,650  $  4,550  $(18,550)
 T. E. V. PRINCESS PATRICIA
PRO FORMA OPERATIONS PER SEASON - SOUTHERN CRUISE
(Based on ten 14-day cruises)
PERCENTAGE OF PASSENGER POTENTIAL
F2
f
_i
85%
75%
65%
50%
CRUISE INCOME
$1
,676
500
$1
,477
000
$1
,281
000
$
987
000
Less travel agents'
commissions
168
000
147
000
129
500
98
000
$1
,508
500
$1
,330
000
$1
,151
500
$
889
000
Gross profit on
liquor sales
28
000
24
500
21
000
17
500
GROSS INCOME
?1
,536
500
?1
,354
500
?1
,172
500
?
906
500
CHARTER EXPENSE
Charter
$
140
000
$
140
000
$
140
000
$
140
000
Crew wages
283
500
283
500
283
500
283
500
Conversion
49
000
49
000
49
000
49
000
. Overhaul
42
000
42
000
42
000
Repatriation of crew
14
000
14
000
14
000
14
000
Pickup and return of
vessel (6 days)
24
500
24
500
24
500
24
500
Charter slack time
(5 days)
17
500
17
500
17
500
17
500
$
570
500
?
570
500
$
570
500
?
570
500
OPERATING EXPENSES
Food costs
$
199
500
$
178
500
$
161
000
$
133
000
Fuel and oil
98
000
98
000
98
000
98
000
Water
3
500
3
500
3
500
3
500
Supplies and laundry
45
500
42
000
38
500
35
000
Insurance
24
500
24
500
24
500
24
500
Maintenance and
repairs
7
000
7
000
7
000
7
000
Port charges
91
000
91
000
91
000
91
000
Administrative
expense
35
000
35
000
35
000
35
000
Advertising
73
500
73
500
73
500
73
500
$
577
500
$
553
000
$
532
000
?
500
500
TOTAL EXPENSE
?1
,148
000
$1
,123
500
?1
,102
500
$1
,071
000
NET INCOME BEFORE
CONTINGENCY ALLOWANCE
5% OPERATING EXPENSE
CONTINGENCY ALLOW-
$  388,500 $  231,000 $   70,000 $ (164,500)
ANCE
NET INCOME (LOSS)
PER SEASON
28,000
24,500
24,500
21,000
$  360,500 $  206,500 $  45,500 $ (185,500)
 m
CRUISE STATISTICS
ITINERARY
TIME
DAY
Leave Los Angeles
Arrive La Pas
Leave La Pas
Arrive Mazatlan
Leave Mazatlan
Arrive Puerto Vallarta
Leave Puerto Vallarta
Arrive Manzanillo
Leave Manzanillo
Arrive Acapulco
Leave Acapulco
Arrive Los Angeles
10
p.m.
1
11
a.m.
4
9
p.m.
4
11
a.m.
5
11
p.m.
5
10
a.m.
6
12
mdnt.
6
10
a.m.
7
6
p.m.
7
2
p.m.
8
2
a.m.
11
8
a.m.
15
DISTANCES AND TIMES BETWEEN PORTS
Los Angeles - La Pas
La Pas - Mazatlan
Mazatlan - Puerto Vallarta
Puerto Vallarta - Manzanillo
Manzanillo - Acapulco
Acapulco - Los Angeles
NAUTICAL
CRUISING
MILES
TIME*
974
61
222
14
170
11
158
10
314
20
1,502
94
TOTALS 3,340
210
♦Estimated speed of 16 knots.
ftl
 s
; i ■
■/«*»■
LEO SHEEHAN
_ *•>
& CO M Pa(N
Y
LEO SHEEHAN, C.P.A.
ROY BUMSTEAO, C.P.A.
BRUCE BEATTY, C.P.A.
CERTIFIED PUBLIC ACCOUNTANTS
Tl»  miTt-MCN.   Y-ITU A_T   BUILDING
iottli, «aihin«ton ••101
MA.n 3-0262
February  18,   1965
Mr. S. B. McDonald
3838 Fourth Avenue South
Seattle, Washington
Dear Mr. McDonald:
Enclosed are five copies of our revised pro forma operating
statement for the "Princess Patricia."
In general, all items are about the same as contained in our
prior forecast, except that we have used the charter figures
which you suggested, as follows:
55% occupancy
60%
65%
70%
8 5%
95%
$ 25,000 per year
50-000
100,000
140,000
150,000
160,000
As your revised revenue figures were so close to the ones in
the original forecast, we have retained the original amounts
for ease in comparison.
In addition, we have deleted the amounts shown as slack time
which amounted to $17,500 per year and reduced the pick-up and
return of the vessel charges $5,500 which represents the daily
charter fee now included in the yearly charter amount.  The
deletion of the slack time prevision was done on Mr. Allen's
assurance that the vessel would be either picked up late or
returned early to CPR.  These adjustments should reduce the
breakeven point about 3% based on our original forecast, using
the $1,000 per day charter fee.
If you have any questions, or if we may be of further assistance,
please contact us.
Sincerely,
LEO SHE
& COMP.
By
Certified Public Accountant
 -
TEV PRINCESS PATRICIA
PRO FORMA OPERATIONS PER SEASON - SOUTHERN CRUISE
(Based on
ten 14-day
cruises)
7
PERCENTAGE OF PASSENGER POTENTIAL
55%
60%
65%
70%
85%
95%  ,
nber of passengers included
$1
179 v
,083,500
108,500
$1
195
,182,000
118,000
$1
211
228
276
309, m
JISE INCOME
.ess travel agents' commissions
,281,000
129,500
$1
,379,000
138,000
$1,
676,500
168,000
$1
,871,500
187.000
Jross profit on liquor sales
$
975,000
17,500
$1
,064,000
19,000
$1
,151,500
21,000
$1
,241,000
23,000
$1,
508,500
28,000
$1
,684,500
31,500
GROSS INCOME
?
992,500
$1
,083,000
?1
,172,500
$1
,264.000
$1,
536,500
?1
.716.000
\RTER EXPENSE
barter
~rew wages
Conversion
Dverhaul
Repatriation of crew
?ick up and return of vessel
(6 days)
$
25.000
283,500
50,000
41,000
14,000
19,000
$
50,000
283,500
50,000
41,000
14,000
19,000
$
100,000
283,500
50,000
41,000
14,000
19,000
$
140,000
283,500
50,000
41,000
14,000
19,000
$
150,000
283,500
50,000
41,000
14,000
19,000
$
160,000
283,500
50,000'
41,000
14,000
19.000
?
432,500
$
457,500
$
507.500
$
547.500
$
557,500
?
567.50p
.RATING EXPENSES
•^ood costs
?uel and oil
fater
Supplies and laundry
"nsurance
laintenance and repairs
'ort charges
administrative expense
advertising
$
142,000
98,000
3,500
35,500
24,500
7,000
91,000
35,000
73,500
$
151,500
98,000
3,500
37,000
24,500
' 7,000
91,000
35,000
73,500
$
161,000
98,000
3,500
38,500
24,500
7,000
91,000
35,000
73,500
$
170,500
98,000
3,500
40,000
24,500
7,000
91,000
35,000
73,500
$
199,500
98,000
3,500
45,500
24,500
7,000
91,000
35,000
73,500
$
209,000
98,000
3.500
48.500
24,500
7,000
91,000
35,000
73-^t-
$
510,000
$
521,000
$
532,000
$
543,000
$
577,500
?
590,0007*
TOTAL EXPENSE
$
942,500
$
978,500
$1
,039,500
$1
,090,500
$1,
135,000
$1
,157,500-
NET INCOME BEFORE
CONTINGENCY ALLOWANCE
$
50,000
$
104,500
$
133,000
$
173,500
$
401,500
$
558,500
CONTINGENCY ALLOWANCE
25,500
26,000
26,500
27,000
29,000
29,500
NET INCOME PER SEASON
.
24,500
53%
?
78,500
54%
?
106,500
.
146,500
59%
?
372.500
57%
?
529,,W0
56?.
>roximate percentage at which
)reak-even point was reached
57%
■ '
 Ib« Persons
per Boom
Dally Sat*
pp,r y_.rx.tt
Round Trip
Vbyage rate
Rewnue ptr Tbyage
Lower Deck 101
Promenade Deck 300 301 302
303 304 305
306 307 312
314 315 316
317 318 319
320 321 322
323 324 325
326 327 329
$28.50
$399.00
Promenade Deek 308 309 310
311
35,50
H97*{K3
$19,950.00
3976.00
Lower Deck 100 102 104 106
108 110 112 114
116 118 120 122
124 126 128 130
132 134 136 138
140 142
ftUOO
_SS.50
24,486.00
Upper Deck 204 206 207 209
211
Boat Deck 400 401 402 403
404 405 418 420
421 422 423 425
426
44.00
616.00
22,176.00
Deck 144 146 147 148
149 150 151 153
156 158
Upper Deek 203 205 226 228
231 233
Prom. Deck 331 342 347
Boat Deck 427 428 430 431
432 433 aaa 435
437 441
Lower Deck 154 157 159 161
Prom. Deck 334 336 338 339
341 343
B oat Deck 409 411
46.00
644.00
48.00
672.00
37,352.00
Upper Deck 214
toe*a Deck 406 407
412 414
408
410
2
46.00
644.00
9.016.00
Lower Deck 160
Upper Deck 200 202
Boat Deck 424 429
2
48.00
672.00
6,720.00
20,160.00
 -JSL
Daily Rate   Round Trip   .   1 yil
per Person Voyage _y»te % at n  .feyt, per .Voyage
%>»er Deck 217
41.00
686.00
BoRt Deck 415 417 419
40.00
560.00
lower Deck 152 155
Upper Deck 212 229
Deck 328 330 332 333
SUMMARY
Total Maximum Revenue per day
Total Maximum Voyage Revenue
Total Maximum Season Revenue
14,116.00
197,624.00
1,976,240.00
I-tanber passengers
Mfefannn rate per day
Hbx___wb rate per day
Average rate per day
Average rate per voyage
325
28.50    (per person)
70.00
HO. 30
564.20
l?n*?P
5040.00
335 337 340 345
3
41.00
37M_.
B eet Deck 416
3
44,00
616.00
1.848.00
Upper Deck 208 210 216 215
3
46,00
644*00
7.728.00
Upper Deck 219
2
52.00
728,00
1.456.00
Ufc>per Deck 218 220 221 222
223 224 225 227
2
70.00
980,00
15.680.00
maaaam**
 LEO SHEEHAN, C.P.A.
ROY BUMSTEAD, C.P.A.
BRUCE BEATTY, C.P.A.
LEO SHEEHAN & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
739 white-henry-stuart bu1-dino
seattle. washington 98101
MAin 3-0262
March 15, 1965 /
Charter Group
Princess Patricia
Gentlemen:
Enclosed is the latest revision of the Princess Patricia forecast for 1965.  As you can see, there have been several major
changes and these are explained as follows:
Cruise Income has been recomputed on the basis of two people
in all 2 or 3-person rooms and four people per 4-person
room, times the rates previously discussed, ranging from
$28.50 to $70.00 per day.  Average cruise revenue would
be $43.80 per day at 100% occupancy.
Travel Agent's Commission - 10% of cruise income (all income
considered subject to 10%).
Gross Profit on Liquor Sales - $1 per person per day.
Charter Fee - variable fee as follows:
Occupancy %
55 or under
60
65
70
75
80
85
90
95 or over
Fee
$ 50,000
90,000
120,000
140,000
160,000
170,000
180,000
190,000
200,000
Crew Wages - per audit of CPR payroll. John Allen is meeting
with CPR and Union on Thursday to see if this can be lowered.
Conversion - 1/5 x 250,000 estimate (5-year amortization).
Overhaul - 1/2 x 81,000 estimate (CPR to pay other half).
 Charter Group March 15, 1965
Princess Patricia Page 2
Repatriation of Crew - 100 round trip tickets - Los Angeles
to Vancouver, B. C.
Pick Up and Return of Vessel - 1/2 estimated cost.  CPR
agreed to pay other one-half.
Passenger Services - estimate for band, etc.
Food Costs - 1.25 per day for crew; 3.50 per day for passengers.
Fuel and Oil - per computations made in Vancouver.
Water - estimated cost of bottled water and dispensers.
Supplies and laundry - $7,000 for deck supplies.  15% of food
costs for galley supplies and dish breakage.  Laundry - 10
pieces per passenger per day at 6.= per piece.
Insurance - estimate including policy to insure against CPR's
$20,000 deductible clause.
Maintenance and Repairs - estimate based on CPR's experience.
Port Charges - estimate pending receipt of final verification
from Los Angeles and Mexico.
Administrative Expense - estimate based on Vancouver discussion.
Advertising - estimate per Stan McDonald.
Charter Improvements - provision for pool, deck chairs, etc.
Contingency Allowance - for unforeseen expenses.
In summary, we have arrived at the best estimate we can, pending
further information on wages, port charges and insurance.
If you have any questions, please contact us.
Sincerely',
LEO SHEEHAN & COM
By \f*A*-y^"ty^YY,
Certified Public Accoupftant
Enclosure
 TEV PRINCESS PATRICIA
9 	
PRO FORMA OPERATIONS PER SEASON - SOUTHERN CRUISE - VARIABLE CHARTER FEE
(Based on ten 14-day cruises)
(000 omitted)
PERCENTAGE OF PASSENGER POTENTIAL
Number of passengers
included
CRUISE INCOME
Less travel agents'
commissions
Gross profit on
liquor sales
GROSS INCOME
CHARTER EXPENSE
(Canadian dollars)
Charter
Crew wages
Conversion
Overhaul
Repatriation of crew
Pickup and return
of vessel
CONVERT TO U.S. DOLLARS
OPERATING EXPENSES
Passenger services
Food costs
Fuel and oil
Water
Supplies and laundry
Maintenance and repairs
Port charges
Administrative expense
and insurance
Advertising
Charter improvements -
pool, chairs, portable
bars, etc.
TOTAL EXPENSE
NET INCOME (LOSS) BEFORE
CONTINGENCY ALLOWANCE
CONTINGENCY ALLOWANCE
NET INCOME (LOSS)
PER SEASON
55%
60%
65%
70%
85%
95%
174
190
205
221
269
300
$1,068
$1,166
$1,258
$1,356
$1,651
$1,841
107
117
126
'• 136
165
184
$  961
$1,049
$1,132
$1,220
$1,486
$1,657
24
27
29
31
38
42
$  985
$1,076
$1,161
$1,251
$1,524
$1,699
50
295
50
41
14
11
103
135
6
37
7
70
85
100
90
295
50
41
14
120
295
50
41
14
140
295
50
41
14
180
295
50
41
14
11
111
135
6
40
7
70
85
100
11
118
135
6
42
7
70
85
100
11
126
135
6
45
7
70
85
100
11
150
135
6
52
7
70
85
100
200
295
50
41
14
9
9
9
9
9
9
?
459
$
499
$
529
?
549
$
589
?
609
?
428
$
465
?
493
?
512
$
549
?
576
11
165
135
6
57
7
70
85
100
15
15
15
15
15
15
$  569
?
580
$
589
$  600
$  631
$  651
$  997
$1
,045
?1
082
$1,112
$1,180
$1,227
$  (12)
25
$
31
25
$
79
25
$  139
25
$  344
25
$  472
25
$  (37)
$
6
?
54
$  114
$  319
$  447
Approximate percentage at which break-even point was reached,
 yt,
GAIL M . Wl LUAMS
KENNETH A.COLE
GEORGE KINNEAR
JAMES S. TURNER
STANLEY   B.ALLPER
Williams, Cole a Kinnear
ATTORNEYS   AT   LAW
3312   WHITE   BUILDING
SEATTLE 1, WASHINGTON
MAi n   4-3242
March 22, 1965
Mr. H. Tyson
Canadian Pacific Railway Co.
Steamship Division
Vancouver, B.C.
Dear Mr. Tyson:
Subsequent to our letter to you of January 4, 1965, we
have had various meetings and discussions relative to the detailed
considerations involved in our proposed charter of the Princess
Patricia from you.  The charter would be for a period commencing
approximately December 1, 1965, and ending approximately May 1,
1966, with renewal options each year for additional similar
periods, with a possible starting date of November 1st for the
next four years.
As you know, our charter group is composed of Stanley
B. McDonald, President of Air-Mac, Inc., Mr. Thomas J. Bannan,
Chairman of Western Gear Corporation, Transmarine Navigation
Corporation of Los Angeles, California and Transportacion Mari-
tima Mexicana, S.A., of Mexico City.
In order that individual questions might be resolved,
we have had Leo Sheehan & Co., Certified Public Accountants, of
Seattle, make a review of estimated costs and forecast them for
the operation of the vessel.  For your information, we are enclosing copies of their final estimate.
It will be recognized that the proposed venture is a
unique one on the Pacific Coast.  Consequently, there is no precedent or history upon which adequate conclusions can be drawn.
In view of that, we propose the following:
The charter fee for the first year of operation only
shall be on a sliding scale basis in accordance with Leo Sheehan
ix  Go's report, bearing date of March 16, 1965.  If the option is
renewed, it would be on the basis of our original understanding
of $1,000 per day.
Negotiations are presently underway for some adjustment
in crew wages between ourselves and the members of the Stewards
 H
Mr. H. Tyson
Page two
March 22, 1965
Department and Galley Staff Union.  In the event that savings
can be effected on the presently outstanding contract, such
savings will be divided equally between you and us and reflected in your charter hire and in our operation.  Savings are
to be determined upon the basis of the present estimated crew
wages figure, as set. forth in the enclosed forecast.
A7e would agree to pay repatriation of the crew from
Los Angeles and the cost of replacements to Los Angeles once
only during each period of the charter.
The matter of insurance has been the subject of
discussion.  A request has been made for estimated insurance
premiums covering your present deductible figure and possible
revenue.' losses for interruption of operation.  We will agree to
insure you against your present deductible but the amount of
your coverage of loss of revenue insurance would depend upon the
amounts involved.  In any event, however, it would be expected
that losses incurred by reason of latent defects would be your
responsibility, and should such defect interfere with operations,
the charter hire would cease.
The cost of the premium for the P & I, hull and
machinery and war risk insurance would be borne by us for the
period of the charter.  Proper and practical provisions would
be made by way of insurance or otherwise for protection of the
crew against agc.ido.nts and against appropriate illness periods.
Delivery of the vessel will be made to us at Victoria.
However, the expense of the voyage from Victoria to Los Angeles
will be at your expense.  At the end of the period, we agree to
deliver the vessel to you in Victoria at our expense.  It is
contemplated that t.he insurance coverage would commence from its
departure from Victoria until its return Lo victoria.
It is likewise understood that you will equip the
vessel with complete air-conditioning, including the crew's
quarters and galley, and adequate water evaporators and to comply
with the modif ica t i orjs required by the.s Canadian Steamship
Inspectors to qualify the vessel in "Glass 1".  You agree to
install a swimming pool, probably of a circular or oblong design,
approximately 14 to 16 feet in diameter and approximately four
feet in depth, on the uf.terdeck of the vessel.  r,ve have made
approximations of the cost of the pool and we would bear such
costs, exclusive of costs for heating equipment, etc.
We agree to pay $50,000 for each year in which the
charter is in force to amortize the cost of such conversion,
provided, however, that such payments shall in no way exceed the
sum of C2S0,000   In the event that the cost of such conversion
 o
-l7f
"
Mr. H. Tyson
Page three
March 22, 1965
is less than the $250,000 figure, the amount of such payments
will be adjusted accordingly, on a five year basis.
Annual maintenance, including dry-docking, where the
vessel is taken out of the water and repaired, will be borne
equally by each of us, it being understood, however, that this
cost will not be more than $82,000 for any one year that the
charter is in force.
It is intended that the charter be a bare boat charter.
However, you would agree to cooperate with us aj]j|_jwfi_j9d*t}i_yim_ixi_.
manning the vessel, insofar as possible, with the present crew.
The payroll will be our obligation but we will provide
you with the payroll funds and you in turn will pay off the crew.
You have requested a $110,000 bond agreement on the
charter of the vessel by us.  We will furnish such a bond, either
with an agreed bonding company or in cash.
We have discussed, on several occasions, the possible
conversion and utilization of the Princess Marguerite, in similar
service.  If the Princess Marguerite is so converted, we would
have first refusal on the charter hire.
You will make available to us an amount of linen, cutlery, crockery, etc., equivalent to the allotment on the Alaska
cruise.  Required excesses shall be supplied by us and an adjustment made by us on the basis of an on and off inventory of items
supplied by you.
Operating costs of the vessel, including port charges,
etc., will, of course, be borne by us during the period of the
charter.
It is contemplated that charter period agreements and
all other requested agreements shall be drawn to the satisfaction
of each of us prior to the effective date of any final agreement.
While negotiations have been conducted over some period
of time, time is presently of the essence in order that preparations can be made to put the cruise into operation.  Two other
companies have indicated an interest in setting up a similar cruise,
It is important to both of us that an early announcement of the
cruise be made almost immediately in order that competition can
be curtailed.  We would like, therefore, a decision to be made
 p
i.
:V
Mr. H. Tyson
Page four
March 22, 1965
prior to the end of this month, but in any event, not later than
the first week of April, 1965.
Yours very truly,
yflLLIAMS,    COLE   &  KINNEAR
M CtU    77)        .SY^^YF-
Gail  M.   Williams
GMW:baf
Enc.
 I
3
CHARTER PARTY
THIS CHARTER PARTY made and concluded on the 29th day
of October     , 1965.  Between CANADIAN PACIFIC RAILWAY
COMPANY, Ovmers of the T.E.V. "Princess Patricia" of 6062 tons gross,
provided with certificate of hull and machinery as required under
provisions of the Canada Shipping Act and PRINCESS CRUISES CORPORATION INC., of the Republic of Panama, Charterers.
WITNESSETH that the Owners agree to let and the
Charterers agree to hire the said vessel for six months per year
for five years calculated from date of first delivery, as set
forth below, in consideration of which the Owners and Charterers
mutually covenant and agree with each other as follows:
DELIVERY AND REDELIVERY.
(1) The Ovmers shall deliver the vessel to the Charterers
at the Port of Victoria, in the Province of British Columbia,
on or about November 27th 1965 and on or about November 1st in
each of the years 1966 to 1969 inclusive, where the vessel may "
safely lie, always afloat. Vessel at her delivery to be tight,
staunch, strong, and well and sufficiently tackled, apparelled,
furnished, and equipped, anc in   .y respect seaworthy and in
good running order, condition anc repair so far as the exercise
of due diligence can make her.
Max ihe
su?er intencent
(2) The Charterers shall redeliver the vessel to the Owners
at the Port of Victoria, where she may safely lie, always afloat,
on or before May 3rd in each of the years 1966 to I97O inclusive.
The vessel on her redelivery to be in the same or as good order
and condition as that in which she was when delivered, ordinary
wear and tear excepted, but any repairs covered by insurance
and any repairs or replacements due to defects in the vessel,
machinery or appurtenances at the time of delivery are to be
paid for; in the manner herein provided.
2.
HIRE.
(1)  (a) The Charterers shall pay to7the Owners for the-
use of the vessel during the period November 27th 1965 to May
 ■
•
•
mt O M
■/'                          I
3
1st 1966 an amount which shall snot-
in any event be less than
Fifty Thousand ($50,000.00) Dollar*
s calculated in accordance
with average percentage occupancy c
>ver said period as follows:
Percentage Occupancy
Charter Fee
Under
56
$50,000.00
56
or
over, but under ;
58,000.00
57
or
over, but under
66,000.00
58
or
over, but under
7^-, 000.00
59
or
over, but under 60
82,000.00
60
or
over, but under 61
90,000.00
61
or
over, but under 62
96,000.00
62
or
over, but under
102,000.00
63
or
over, but under St
108,000.00
6k
or
over, but under 65
11^,000.00
65
or
over, but under 66
120,000.00
66
or
over, but under 67
12^,000.00
67
or
over, but under 68
128,000.00
68
or
over, but under 69
132,000.00-
69
or
over, but under 70
136,000.00
70
or
over, but under ?i
1^-0,000.00
71
or
over, but under 72
l¥f,000.00
72
or
over, but under 73
1^8,000.00
73
or
over, but under 7*.
152,000.00
7h
or
over, but under 75
156,000.00
75
or
over, but under 76
160,000.00
76
or
over, but under 77
162,000.00
77
or
over, but under 7'8
16^,000.00
78
or
over, but under 79
over, but under 06
166,000.00
79
or
168,000.00
80
or
over, but under 81
170,000.00
'
81
or
over, but under 82
172,000.00
82
or
over, but under 83
17^,000.00
83
or
over, but under St
176,000.00
Fr
or
over, but under 85
178,000.00
85
or
over, but under 86
180,000.00
86
or
over, but under 87
182,000.00
87
or
over, but under 88
18^,000.00
88
or
over, but under 89
186,000.00
89
or
over, but under 90
188,000.00
90
or
over, but under 91
190,000.00
• 91
or
over, but under 92
192,000.00
92
or
over, but under 93
19^,000.00
93
or
over, but under $M+
196,000.00
C)k
or
over, but under 95
198,000.00
95
or
over
200,000.00
For the purposes of this
Charter three hundred and
fifteen
(315) berths sold and paid
for shall be deemed to be
one hundred (100$) per cent occupancy. In the case of one
way or interport passengers, the pe
rcentage occupancy shall
be calculated on the ratio of the number of days spent on board
to the total cruise days.
00
The Charterers shall pay to
the Owners for the use of
the vessel
during the periods November 1st 1966 to May 1st 1967,
 -3-
November 1st 1967 to May 1st 1968, November 1st 1968 to May 1st
1969, and November 1st 1969 to May 1st 1970, or such other periods
as may be mutually agreed upon in writing, the sum of One Thousand
($1,000.00) Dollars a day$ provided however, in the event of loss
of time from the breakdown of machinery or damage to the said
vessel due to defect as referred to in clause 3(b) preventing
the working of the vessel for more than 2h hours, payment under
this clause shall cease'from the time of such breakdown or damage
until the said breakdown or damage shall have been repaired and
the said vessel again placed in a seaworthy condition and in good
running order and any prepaid hire shall be adjusted accordingly.
(c) The Charterers shall make all payments to the
Ovmers at their offices in Vancouver, British Columbia monthly
in advance except during the period November 27th 1965 to May
1st 1966 for which period payment of Sixty Thousand ($60,000.00)
Dollars has already been made and is acknowledged hereunder. If
the percentage occupancy entitles, the Ovmers to payment in
excess of Sixty Thousand ($60,000.00) Dollars the balance shall
be paid on or before May 1st 1966.
(2) The Charterers shall pay to the Owners (in addition
to the sum of Fifty Thousand ($50,000.00) Dollars referred to
above) the sum of Seventy-One Thousand Two Hundred and Fifty
($71,250.00) Dollars on or before October 1st each year during
the term of this Charter, commencing in October, 1966 tovrards
the cost of structural alterations to the vessel referred to
in clause 3(a)5 provided that if during the 1965-1966 season
the average percentage occupancy is seventy-(70) or over the
Charterer agrees to pay the Ovmers on or before May 1st 1966 an
additional Twenty-Five Thousand ($25,000.00) Dollars, and thereafter Sixty-Five Thousand ($65,000.00) Dollars on or before
October 1st each year during the term of this Charter, commencing
in 1966, instead of the sum of Seventy-One Thousand Two Hundred
and Fifty ($71,250.00) Dollars referred to above.
 (3) The Charterers shall pay to the Owners Forty-One
Thousand (ft1.1,000.00) Dollars at least one week before delivery
of the vessel to the Charterers each year during the term of
this Charter, commencing in 1965, as a contribution to the cost
of the annual overhaul of the vessel.
(h)    During the periods when the vessel is on charter the
Charterers shall pay to the Ovmers semi monthly, in advance,
such amounts as may be due the Master, officers and crew by
the Owners on account of wages, accrued leave and.general holidays pursuant to the applicable collective agreements in force
from time to time and applicable federal or provincial legislation together with ten (10$) per cent of the total of such
amounts on account of pension and other benefits.
3.      The Owners undertake that they will:
(a)  STRUCTURAL ALTERATIONS,
Prior to delivery at Ovmers expense, (subject however
to the provisions of sub-clause (b) hereof), equip the vessel,
including the crew's quarters and galley, with air-conditioning,
install adequate water evaporator equipment and carry out such
modifications as may be required to qualify the vessel for Class
I Home Trade. In addition the Owners will install a collapsible
swimming pool approximately fourteen (1*+) to sixteen (16) feet
in diameter and four (k-) feet in depth on the afterdeek of the
vessel.
(b)  DEFECTS IN THE VESSEL.
Accept responsibility and pay for such repairs or
renewals as may be occasioned by defects in the vessel, her
machinery or appurtenances, existing at the time of delivery:
provided that in the event of a difference of opinion between
the Ovmers and the Charterers as to the existence of such defects
the question shall be referred to the Senior Surveyor to Lloyds
Register of Shipping at Vancouver, British Columbia, whose decision
 o      -
shall bo final and binding on both parties. The costs of any
such reference shall be borne equally by both partic_.
(c) HASTES AM) CRSI7.
of "fain and nn:.. th •■  yo; ....;... ....:..        ' ......n..n -.:....   n sniff
complement of officers and crow no approved by tho Charterers.
During the term of the Charter the Master, officers and crew
shall fo paid fy -fo Con.ors an accordance with th© applicable
collective agreements in force between th® Master, officers
and c-v.7 or; oho o__i_ hand ana the C  :■ ..   ......  oho viff.oon ff-
Master, officers and crew shall, co.r ng the term of the
Charter, be under the direction of the Charterers or their
nX
agents.
(d) ANNUAL OVERHAUL.
At the Owners expense, (subject however to the
provisions of clause 2(3)), drydoek, clean ana o.a_:s.o tfo vniaool
as may be necessary but at least once every year between May
1st and November 1st.
(e) LINBN. CUTLERY, CROCKESY.
Provide such linen, cutlery, crockery, furniture
and other accoutrements as are normally used on th© vessel ©__ the
Alaska run. An on and off inventory of all items on the vessel
at the times of delivery to the Charterers aad redelivery to the
Owners each year during the tern of this Charter shall be made
and signed by  both parties. Any it etas required hj  tho Charterers' in
addition to those normally used oa the voaaof on ffo Alaska run
will be provided by the Charterers at their sua Q^enc-o,, .
shortages or daaaged articles at tiae time of return of tho vessel
to the Conors each year will Lo iraade good by'the Charterers.
4. Tfo Charterers undertake that Ofoy niff;
(1) VOYAGE LIMITS.
Us© the vessel for carrying tourists between Los Angeles,
Acapulco and intermediate ports and for no other purpose save with
the consent in writing of th©       irst had and obtained, such
consent not to-''be unreasonably
(*> .    At>TPOAT17"_T__   /W3TG
At the Charterers expense operate, victual, f
 r
-  6 -
supply the vessel and pay all port charges, pilotages and all
other costs and espeaso incident to th©     .. operation of th©
vessel during the term of the Charter*     /
(3)
f. f _'; „. w_... . --j. *. • o
(a) Eeimbtu.se the Owner-s^h© cost of the premiums
on Two Million Five Hundred Thousand C$2,500,000.00) Dollars
hull and machinery and increased value insurance coverage,
(Twenty Thousand ($20,000.00) .. sluctible), a sad Two
Million Five Hundred Thonso         .. :.';0o00) Dollars protection
and indemnity insurance con. Thousand ($1,000,00)
Dollars deductible for each       ©ries of claims arising
froa any one event), said inaurance to be taken out by th©
Owners and to sane both part:.. .... o
neither the Owners nor the insurer shall have any right of
recovery or subrogation against the Charterers oa account of
loss of or any daraago to the vessel or her i s,,f.s -j   ...-
appurbnanees covered by such insurance, or  . account of payment.
made to discharge canons an a:!, a is... o or liofa:;.. assises es tfe oosnof
or Owners covered by such insurance.
(b) In the event that any act whether of omissioi_
or ccmission} or any negligence of the Cf as three's chaff vitiate
any of the insurance hereinbefore provi<  , pay to the ( .ors
all losses and indemnify the Owners against all claims and de
mands which would otherwise have fo,.,  onsen.-../......
.•- '     . ..;■; . y
-.   ■ '■■■     ,.   -
\lt'm*4 *-*m~.l^t-mmm- U-rfVV <
s^Jah^-f O  ■-_■„.
(c) The Owners shall b© entitled to reimb
the cost F  fas' s. ;_ .....  effect while o:    ...;._f ;_..., in she
possession of the Charterers, but not while the vessel is in the
possession of the Owners.
(d) Th® Charterers may at their option and ia lieu
of tho other oo'osv a ef this ....
isaintafn faff and •_isehf:.ery and inero: ef o„fe,.. fai_ssraao_ ....
age together with protection and indemnity insurance coverage
on such terms and with such insurance companies as may be
 acceptable to the Ownesis for the duration of this Charter,
(if)  INDEMNITY.
Indemnify and hold harmless the Owners including where
appropriate, their officers, agents and employees from and
against:
(a) All claims, demands, debts, actions, causes of
action, suits or other proceedings whatsoever made or brought
by reason of or arising directly or indirectly out of any loss,
damage or injury (including injuries resulting in death) to
any person whomsoever or to any property whatsoever which may
A
be caused by, arise out of or result from the use and operation
A
of the said vessel during the term of this Charter Party, including but without limiting the generality of the foregoing
the total amount of any awards of compensation made in respect
of such loss, damage or injury under any statute for the pro-
tection or compensation of workmen which may be charged against
/
the Owners or to the class to which the Owners have been assigned
under such statute and to that ens will procure in the joint
names of the Owners and Charterers insurance or Bond of Indemnity
conditioned as above.
(b) Any liens of whatsoever nature upon the vessel
and against any claims against the Owners arising out of the '
operation of the vessel by the Charterer, or out of any act
or neglect of the Charterer in relation to the vessel, except
in so far as such liens or claims arise out of any matter covered
by the insurance provided herein.
(c) Any expense including legal and counsel fees
incurred by the Owners in defending any action or other proceedings brought by  any person by  reason of or in connection with
.any loss, damage, injury, action, cause of action, claim or demand, the intention of the parties being that in connection with
any such loss, damage, injury, action, cause of action, claim or
demand, the Owners, their officers, agents and employees shall not
 0
be at any expense or incur air/ loss to which it or they would
not have been put had this Charter not been entered into.
(d) Any expense not covered by insurance which the
Owners may incur pursuant to section 293 of the Canada Shipping
Act, R.S.C. 1952, Chapter 29, Fart Li-, or any modification or
re-enactment thereof.
(5)     REPATRIATION 0? ■
At7 Charterers en .ate the Master or any
member of the crew whose s. 1 terminated by the
Owners at the request of the Charterers and pay the cost of
obtaining a replacement from Canada, all such replacements to
be obtained by the Owners.
,  (6)  MAINTENANCE.
At Charterers expense keep the vessel in good/running
order and in substantially the same condition as when delivered
by the Owners, reasonable wear and tear excepted.
(7)  PERCENTAGE OCCUPANCY !    N.
During the period November 2?th 1965 to May 3rd 1966
submit to the Owners at the end of each voyage a return showing
the percentage occupancy of the vessel for the immediately pre-
ceding voyage, provided that for the purpose of computing percentage occupancy the voyages between Los Angeles, Acapulco and
intermediate ports only shall be considered.
5.       RECEIPT.
The Owners acknowledge having received from the
Charterers the 'sum of One Hundred arid Ten Thousand ($110,000.00)
Dollars, of which Fifty Ten      .,.7,000.00) Dollars is the
Charterers' contribution towards F;  cost of the structural
alterations to the vessel 2:..,:  the 1965-1966 season and Sixty
Thousand ($60,000.00) Dollars is payment or part payment in
advance of the hire for the 1965-1966 season. It is agreed
that the sum of One Hundred and. Ten Thousand ($110,000.00)
Dollars is paid to the Owners absolutely, in consideration of
 -9-
the Ovmers entering into a contract with a shipyard for
effecting the structural alterations to the vessel and/that
no portion of the One Hundred and Ten Thousand ($110,000.00)
Dollars shall be returnable to the Charterers; save only that
if the Charterers elect to cancel the Charter after the first
season pursuant to clause 18, or if the percentage occupancy
is under fifty-six (56) during the first season, the sum of Ten
Thousand ($10,000.00) Dollars shall be refunded to the Charterers
■   . ./
6.       EFFECTIVE DELIVERY.
Subject to the provisions of clause 3(b), the
delivery to the Charterers of the vessel and her acceptance by
. the Charterers shall constitute a full performance by the Ovmers
of all of the Owners8 obligations sip to the date of delivery,
and thereafter the Charterers    1 not make or assess any
claim against the Owners on account of any representations or
warranties expressed or implied with respect to the vessel.
7. PESTILENCE, MAR., AC" 8 0[ GOD.
In the event of a serious outbreak of pestilence, war,
acts of God, force majeure or other erases beyond the Charterers'
control making the use of the vessel in the tourist trade between
Los Angeles and Acapulco impractical, the vessel may, with the
consent in writing of the Owners first had and obtained, be used
for some other lawful purpose or, at the option of the Charterers,
the Charter may be terminated,
8. DISPUTES.
Should any dispute arise between the Ovmers and the
Charterers with respect to responsibility for repairs, renewals
or replacements or as to the condition of the vessel at the
time of delivery to the Charterers or redelivery to the Owners,
either the Charterers or the Owners may, without prejudice to
their contentions, make and pay for such repairs, renewals or
 ... | o-
replacements or any part thereof before or after tender of
delivery or return, and say in the manner provided in clause
3(b) refer the dispute to arbitr;
9. USE OF EQUIPIf.	
The Charterers . 3 use of all outfit,
equipment, and appliances on board the vessel at the time -of
delivery without extra cost provided the same or their substantial equivalent shall be returned to the Ovmers in the same
good order and condition as when received, ordinary wear and
tear excepted.
10. LIENS AGAINST VESSEL.
Neither the Charterers nor the Master of the vessel
shall have any right, power, or authority to create, incur, or
permit to be imposed upon the vessel any liens whatsoever except for crew's wages and salvage. The Charterers agree to
carry a properly certified copy of this Charter Party with the
ship's papers, and on demand to exhibit the same to any person
having business with the vessel which sight give rise to any
lien thereon, other than liens for crew's wages and salvage.
11. DAMAGE TO OR LOSS OF \\       3,
Should the vessel, be damaged and held out of service
hire shall nevertheless.continue to be payable, however in the
event of a total loss, actual or constractive, hire shall be
paid up to and including ts   _y of such loss but not after.
12. SALVAGE.
All derelicts and salvage, if any, shall be prorated, twenty-five {25%)  per cent to the Ovmers and seventy-
five 775%)  per cent to the Charterers, after deducting Owners5
and Charterers' expenses and crew's proportion. Hire of the
vessel shall not be considered an item of the Charterers'
expense hereunder.
 13.      ALTERATIONS.
The Charterers shall not make any structural changes
in the vessel without first securing the approval in writing
of the Owners.
lif.      DEFAULT.
If at any time after the initial delivery of the
vessel to the Charterers the Charterers shall fail to perform
any of their duties or obligations, or shall violate any of the
prohibitions imposed upon them under this Charter, or if the
Charterers shall be dissolved or be adjudged a bankrupt, or
shall have a petition in bankruptcy filed against them, or shall
make a general assignment for the benefit of creditors, or if
a receiver or receivers shall be appointed for the Charterers,
the Owners may, without prejudice to any other rights which
they may have under this Charter, withdraw and retake the vessel,
wherever the same may be found, whether upon the high seas or
in any port, harbour, or other place and without prior demand
and without legal process, and for that purpose may enter upon
any dock, pier, or other premises where the vessel may be and
may take possession thereof.
15.      WAR CLAUSES.
(a) Should the isitioned by the
Canadian Government during f this Charter, the vessel
shall be deemed to be excused performance during the period of
such requisition, and any hire paid by 'the said 'Government in
respect of such requisition period shall be for Owners' account.
The period during which the vessel is on requisition to the
said Government shall count as part of the period provided for
in this Charters provided that should the vessel be requisitioned
as aforesaid the Charterers may at their option terminate this
Charteri
 (b) In the event of an outbreak of hostilities involving warlike acts directed, against the mainland of Canada,
the United States of America or the Republic of Mexico, whether
war be de facto or de jure, either party may terminate this
Charter at any time after delivery of the vessel on or about
November 27th 1965.
(c) The vessel to have liberty to comply vrith any
orders or directions as to departure, arrival, routes, ports
of call, stoppages, destination, delivery or in any other wise
whatsoever given by the Government of the nation under whose
flag the vessel sails or any other Government or any person
(or body) acting or purporting to act with the authority of
such Government or by any committee or person having under the
terms of the war risks insurance on the vessel the right to
give any such orders or directions.
16. GOVERNING LAW.
(a) This Charter shall be construed and the relations between the parties determined in accordance with the
law of Canada.
(b) Any dispute arising under this Charter shall be
decided by the Courts in British Columbia to whose jurisdiction
the parties agree whatever their domicile may be.
17. CANADIAN FUNDS.
All payments to be made pursuant to this Charter
shall be made in Canadian funds.
18. TERM OF CHARTER.
This Charter shall take effect from the date of
execution and shall remain in force until May 1st 1970\  provided that the vessel shall be returned to the Owners for
their own use on or before May 1st every year up to and including
1970 and redelivered to the Charterers on November 1st during
the years I966 to 1969 inclusive: provided further that the
 Charterers may at their 03
time prior to June 15th lOo:
writing to the Ovmers, st
than May 15th 1966.
a the Charter at any
(30) days' notice in
e delivered not later
19.
USE BY OWNERS.
Between the time of the return of the vessel by the
Charterers to the Owners on May 1st and redelivery to the
Charterers on November 1st in each succeeding year the Ovmers
may make such use of the vessel as the Ovmers in their discretion deem fit.
20.
TIMS OF THE ESSE!
Time where mentioned shall be of the essence of
this Charter:  subject however to the provisions of clause 2ls-.
21.
IMPOSSIBILITY OF PERFORMANCE.
Where under this Charter it is provided that some
thing shall be done, either by the Owners or by the Charterers,
by a stipulated date, and performance by the stipulated date
becomes impossible due' to a strike, war, de facto or de jure,
acts of God or force majeure, the Owners or the Charterers,
as the case may be, shall be relieved from the provisions of
paragraph 18. In the event of the vessel being lost this
Charter shall terminate.
22.
ADJUSTMENTS,
The value of all fuel oil and stores on the vessel
at the time of her delivery to the Charterers and at the time
of her return to the Ovmers at Victoria each year shall be
adjusted between the parties on the basis of the cost to the
Ovmers in Victoria of said fuel oil and stores on the date of
the vessel's delivery or redelivery.
23.
NOTICE.
ihiy notice required to be given by either of the
parties hereto to the other of them shall be well and sufficiently
 _  T A
given if addressed and posted by register  i ..il as follows:
To the Owners*
Canadian Pacific 1  .y,
isst Cordova    st,
Vancouver 2, British Columbia.
To the Char   res
Princess Cruises Cor	
655 South Flower St:
Log ....     17, C;    .nia.
24.
PRIOR AG!
This Charter ,  -.1 prior
agreements, correspondence, a. ...   stations
whether written or oral, tied, '..   sen the part...
hereto.
25. NO VERBAL ChA
Escept as heroin othe:     .specifically provided,
neither this Charter nor any provision   ty be
changed, waived, discharged or terminated orally, but only by
an instrument in writing signed by f....... party ....
enforcement of ssoh change, o tvora ,'      or t
is sought.
26. A&ZfffSITT.
This Charter shall set he        \.y  tf...     sheets:
without the consent in writing of tl .    rs first had and
obtained.
/
d  / » - .- _ /
This agreement shall ... or© tc th  ..:.. sit of    be
binding '..     	
tho Orners, and the s'sceeas   	
Charterers.
Signed and Sealed for .:.:.
behalf of CANADIANTPACaLj",
RAILWAY CC_E?Ai.Y - •  A-F' V
  ,^'LFn.Ff.       -    .
v.ot-a-ain.ss
[■for
.    NC.
a
 —„ — ■
  3 Charter Party made the   day
of ■, 1965.
5N:
/
LCIFIC RI
n>
PRINCESS CRUISES CORPORATION ]
CS CH
F. E. Dent, Esq,,
Barrister & Solicitor,
320 C.P.R. Station,
Vancouver 2, B. C.

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