SPECIAL COMMODITY ASSETS (GENERAL LEDGER ACCOUNT NO. 350).

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-01240A000400100011-6
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 1
• Document Creation Date: December 9, 2016
• Document Release Date: July 19, 2000
• Sequence Number: 11
• Publication Date: February 5, 1961
• Content Type: MFR

Approved For Release 2000/09/01
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=01240A0004001
'WW
Exbib.
Assets
5 February 1961
At this date there is a balance in th
e General Lodger Account No.
350 entitled "Special Commodity Assets on Nand" In the amount of $14,946.61.
This account represents items of jewelry and gems carried forward from SSU
as recorded in CIA Vouchers 1675 and 6288 in the amounts of $14,945.61 and
l
11-00_ +s "wr I
e
y
These items are presently carried at a total bo
b
l
o
s
ue established
on the records of ~. Thew values are
l
i
re
at
vely meaningless and have
actual little or e relationship to actual values. Many of the Items are valued at
purchase cost 14 low-cost foreign currencies but subsequently converted
Into dollar values at
ffi
i
l
o
c
a
gates of exchange. These items are, therefore,
overvalued for the most
a
t
p
r
. Other items are of unknown origin or cost and
the beaks at
l
nava
values.
3. Accordingly: the Finance Branch requested that an appraisal of these
Items be made by the U. S. Treasury Department, Customs Service. Attached
hereto Is an appraisal prepared by the Customs Service on 24 November 1946.
In order to dis.,pose of these items by Issue to various operations It is felt
that the appraised value is the proper value to record such Issues.
and the assort value transferred to CIAwwas7based aaneunrealisticabookn~
value It appears appropriate that any gains or losses by reason of the revalu-
sties to the assessed value should be charged or credited to the predecessor
organisation. It Is recommended, therefore, that the mount of $8,,M8.39
(the difference between the book value of $14,946.61 and the appraised value
of $23,8O5.Oo) be credited to SSU Exchange Equalization and the Asset Account
be written up to the appraised value an the books of CIA.
6. pause of the intrinsic value of the jewelry and gems they will be
ed as money. the mam^ A: ~.~~....
r--v , _ -- -
Curren
-P-A- flu an vuroance with existing regulations will
'root with the Special Monetary Unit, The General Ledger Account No. 360Special Commodity Assets on Hand, will be closed out and Special Monetary
Unit will be charged with the appraised value of these items in Account No.
302, PoTBIgn Monies on Hand.
Chle
on and Liaison
25X1A
Approved for"1else'000/' -RDP80-01240A000400100011-6