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A-98289 1 (1938-10-25)

handle is hein.gao/gaobacsqm0001 and id is 1 raw text is: 
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41o 1               COMoPTOLLE? GENERAL OF THE UNITED STATES
                                  WASINGiTO






      Chairm&n,
           UcmoDioners' Loan Corporation.

      Sirsa

           There pus reccoed your letter orf Septerbor 21, 1958, ad-
      dnssed to the Chief of tto Audit Division of this office,.as
      followas 8

           The 2oard has had brqught to its attention two cafudloations
      fron2 W 3. A.  otinn, Chief, Contract xamining Section, of your
      Division, the first, hdatd Algust 3 pointingr ont a nnmber of
      rupeots i  which some of the outstandin; leases of the Corpora.
      *1on do not conforn to usual govermat practice, and the aand,
      dited Anusat 4a dealinG a ilarly with a numb*r of exsting  lcon-
      trots o( the Corporation.

           'Reply to thee ccmunlesttons ha bon  delaye4 pendinc a
      cnforence betwoo  reprosentaties of the Wane Owners' Loan
      Corpora'.Ica .d4 WJr. ?. I. Tates, Attorney-ConforC  of the Genaral
      ACQountinI Office. On Sopteaber 10 a acfqrence uas tb.l betwoen
      Jossrs. A. L. eoMphill and Jonathan 3. Richards, reresentatives
      of the Corporation, and r. TYates relutive to the peculiar problris
      of the CorporAtion in adjusting it. existing leass sand ontractu
      to uniform governrnut practico, At that oonference itwas pointed
      out to Yr. Yates that the Corporation, i addition to mathing
      like 150 outstanding leases, has in the neighborhood of two
      hundred existin 5s4ll reurrin  contracats of wich thos*'refrred
      to in Sr. KoGina's letter of Auvust 1; are representatire. Wone.
      I o these latter contraot Involve motdhly p enta o so re thA
      *25 and by far the najority of then involiv far s&eller was.
      The ddespread geographical distribution of these outatanding
      leaseso ad contracts of the Corporation will present a very real
      practical barrier to any attetpt to acccplimh a refornation of
      then at this time. lot only would such an undertaking Involve
      amch time and expense, but, likewise4 would seriously hamper the
      ourront operations of the Corporation, due to the delay involied.

           On Axtuat 31, 19308 aonunicatioa IWo.  A97432 fas recooved
      frcr Yr. e. f. Elliott, Acting Comptroller General, with referonce
      to a numbor of leases hold by the Corporation in Baltimors.  In'
      that communination Mr. Zlliott pointed out a number of objection


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