Harold Lady reports on the status of negotiations with Kosco and the United States Foreign Operations Administration (FOA) for a petroleum contract.

Lady emphasizes establishing a convertible currency to stabilize the Korean economy.

Lady proposes that Korea should have a two-way exchange rate.

Notes concerning the agenda for Syngman Rhee's meeting with Hoover and Hollister concerning the Korean budget for fiscal year 1956.

Harold Lady suggests giving embassy status to the Korean legation in the Philippines.

Harold Lady introduced George T. Walker as a potential candidate to work with Syngman Rhee.

Harold Lady writes regarding his decision to leave Japan because of issues with the State Department.

Harold Lady writes about a proposal to raise the price at which the Korean government sells aid materials to the public. He suggests that the US military should stop using military script as currency in Korea.

Harold Lady replies to Syngman Rhee's request for information on selling iron scrap to raise money for the Republic of Korea. He encloses a sample contract from the CDT corporation.