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FEDERAL REGISTER, Friday, October 8, 1937

FEDERALiBREGISTER
1934 c?y
4 ONlJtO

Published by the Division Archives, pursuant to the Register Act, approved July ulations prescribed by the approval of the President.

of the Federal Register, The National authority contained in the Federal 26, 1935 49 Stat. L. 500, under reg Administrative Committee, with the
The Administrative Committee consists of the Archivist or Act ing Archivist, an officer of the Department of Justice designated by the Attorney General, and the Public Printer or Acting Public Printer.
The daily issue of the F ederal R egister will be furnished by mail to subscribers, free of postage, for $1 per month or $10 per year;
single copies 5 cents; payable in advance. Remit by money order payable to Superintendent of Documents, Government Printing Office, Washington, D. C.
Correspondence concerning the publication of the F ederal R egister should be addressed to the Director, Division of the Federal RegisterThe National Archives, Washington, D. C.

TABLE OF CONTENTS
Federal Communications Commission:
Destruction of records of telephone, etc., companies, regulations amended________________________ __
Exemption, Communications Act, 1934, of all pas senger vessels of less than 100 gross tons not subject to radio provisions, Safety Convention_

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Federal Home Loan Bank Board:
Home Owners Loan Corporation:
Property Management Division regulations_______
Federal Housing Administration:
Mutual mortgage insurance, administrative rules amended_____________

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Foreign-Trade Zones Board:
Resolution and order approving application for fo r eign-trade zone at Mobile, Ala_______

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Securities and Exchange Commission:
Notice of and orders for hearings in the matter o f:
Beverly Gas and Electric Co_________________ ____
Gloucester Electric Co____________________________
Malden Electric C o ______________________________
Salem Gas Light Co_______
Suburban Gas and Electric Co------------------------

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liens held by the Corporation from the time foreclosure or the acceptance of deed in lieu of foreclosure has been author ized and all matters pertaining to real property acquired by the Corporation, except that the primary responsibility for protecting the Corporations security from liens resulting from unpaid taxes, assessments, other governmental levies or charges, and ground rents, is placed upon the Legal Depart ment. The responsibility of the Division shall include the sale, rental, collection of rents, maintenance, repairs, recon ditioning, rehabilitation, rebuilding, enlargement, demolishing and periodic inspections of such properties.
All appraisals in connection with such properties which the Division may deem to be necessary or advisable shall be made under the direction of the Appraisal Section.
All repairing, reconditioning, rehabilitation, rebuilding, and enlargement or demolishing of such properties which
the Division shall deem to be necessary or advisable shall according to approved procedure be under the direction and charge of the Reconditioning Section, except maintenance, and the repairs and the purchase of equipment incident to the maintenance of such properties.
The Property Management Division may direct mainte nance and the repairs and the purchase of equipment inci dent to the maintenance of such properties to be accomplished under the direction of the Reconditioning Section. Mainte nance, purchase of equipment, repairs, reconditioning, re habilitation, rebuilding and enlargement or demolishing authorized by the Property Management Division may be ac complished through Approved Contract Brokers under ap proved procedure. All such work accomplished through Approved Contract Brokers, except maintenance and the re pairs and the purchase of equipment incident to mainte nance, shall be under the direction and supervision of the Reconditioning Section.
The Regional Manager, with the advice o f the Regional Counsel or the State Manager, with the advice of the State Counsel, may in his discretion bind the Corporation to ex pend such sums for sidewalks, street improvements or other local improvements affecting property under the jurisdic tion of the Property Management Division, or for the gen eral improvement of the neighborhood in which any such property is located, as he may deem to be for the interest of the Corporation, and may on behalf of the Corporation join in and sign petitions or requests therefor, subject to limitations prescribed in Section 314. Consents to proposed improvements out of which assessments or levies will arise shall be executed pursuant to the provisions of Chapter VI.
S ec. 301. The Property Management Division shall be un der the control of the General Manager. There shall be assigned a Deputy General Manager in Charge of the Divi sion who shall report to and take direction from the General Manager. The Deputy General Manager in Charge shall have all necessary authority to carry out the rules and regulations of the Corporation relating to matters within the jurisdiction of the Division.
S ec. 302. The Property Committee is a part of the Home Office organization of the Property Management Division.
It consists of three members appointed by the Board of Directors, one of whom is designated by the Board as Chair man of the Committee. The concurrence of two members of the Committee shall be sufficient to decide any question that may be presented. The Deputy General Manager in Charge may appeal to the Board from any decision of the Committee. The functions of the Property Committee shall be:
a To review all cases where it is recommended that the property be sold at an amount which represents a loss to the Corporation in excess of 25%, based on ledger value, plus accrued and unpaid charges against the property, the esti mated carrying charges for six months in advance and the commission of the broker, and to render a decision as to whether the property is to be offered for immediate sale or rental and set a minimum sales price for each such property.
b To review and render decisions with regard to all cases which the Regional Property Committee may deem it advisable to submit or which may be submitted by the Re gional Manager or a Field Representative of the Property Management Division as .an appeal from the decision of the Regional Property Committee.
c To review and render decisions in all cases where the amount of reconditioning, repairs, or purchases of equipment and supplies recommended by the Regional Manager exceeds 65% of the latest valuation, as reconditioned, placed on the property by the Property Management Division, or $1,500.00, provided that the amount exceeds $1,000.00.
d To review and render decisions with regard to all leases other than month to month tenancies, except where the Deputy General Manager in Charge has authorized the Regional Manager to effect leases in behalf of the Corpora tion, for periods not exceeding two years.