SIXTY-FIFTH CONGRESS. Sess. II. Cr:. 45. 1918. 513 the duties of his office. N0th1Hg- contained in this or any other Act E”¢“’“**Y°'G°g°¤· shall be construed to prevent the appointment as a member of the m°m°mpl°y°°°’ w` Committee, of any officer or empallqyee under the United States or of a director of a Federal reserve b . T { m d The terms during which the several members of the Committee su$y"i° ° ° °° °° shall res ectively hold office shall be determined by the President of the States, and the compensation of the several members of the Committee who are not mem ers of the Federal Reserve Board _ _ shall be $7,500 per annum, payable monthly, but if any such member ,,,;*},',§,‘§‘Q}}‘g',§,*{h{,°g°g§j receives any other compensation from any_ office or emploiyment ¤¤=¤¤¤¤t· under the nited States the amount so received shall be de ucted from such salary, and if such other compensation is $7 ,500 or more, such member shall receive no salary as a member of the Committee. Any member shall be subgect to removal by the President of the United States. The President shall designate one of the members C°°i"m°"”mp’ as chairman, but any subsequent vacancy in the chairmanship shall be filled by the Committee. Four members of the Committee shall constitute a uorum for the transaction of business. · · Sec. 201. That the Committee may employ and tix the compen· ,u{§’§l£°t'§’ci${1°g3$°Q§ sation of such officers, attorneys, agents, and other emplcgees as ”*‘,$;_,_,, p__m_ may be deemed necessary to conduct its business, who abe ‘ ’ appointed without regard to the provisions of the Act entitled "An Act to regulate and improve the civil service of the United States}? approved January sixteenth, eighteen hundred and eighty-three (volume twenttgtwo, .United States Statutes at Large page four hundred and ee), and amendments thereto or any rules or regu- _ lations made in plursuance thereof. No such officer, attorney, laigent, P°"°°?"°“°“‘ or employee sha receive more compensation than ppersons pe ormiéig of like or similar character under the ecleral Reserve oar . Sec. 202. That all the enses of the Committee, inclu all *"°Y"“°° °' °" exp ,,,,,,8, necessary expenses for transportation incurred by the mem ers or by its officers, attorneys, agents, or emaployees under its orders in maldng an investigation or upon offici business in any other places than at their respective headquarters, shall be allowed and plaid pn the presentation of itemized vouchers therefor approved by t ec airman. The Committee may rent suitable omces for its use, and purchase °‘“°*" ` such furniture, equipment, and supplies as may be necessary, but shall not expend more than $10,000 annually for offices in the District of Columbia. The principal office of the Committee shall be in the District of P"°°*°"°“°°‘ Columbia, but it may meet and exercise all its {powers at any other mm inquiries placple. The Committee! may, by one or more 0 _ its members, or by ' su nts as it may esignate, rosecute any mq necem to its duiiggs in any part of the Uniteld States. mry my Sec. 203. That the Committee may, under rules and regulations ,,,,3r”;'f;‘§1%€‘§’,2,’§I to be prescribed by it from time to time, investigate, apass upon, and gginygr •,'j··m{g*2•g} determine whether it is compatible with the nation interest that cmmaae. there should be sold or offered for sale or for subscription any issue, or angqpart of any issue, of securities hereafter issued by any per- SOI1, , corporation, or association, the total or aggregate par or face value of which issue and any other securities issued by the same person, firm, corporation, or association since the passage of this Act is in excess of $100,000. Shares of stock of any corporation or association without nominal or tpar value shall for the purpose of this I I section be deemed to be of e par value of $100 eac . Any S6cUI'i— inguded. t1es_wh1ch upon the date of the passage of this Act are in the possession or control of the corporation, association, or obligor the same shall be deemed to have been issued after the passage o this Act within the meaning hereof, 112460%-vox. 40—-rr 1——-33
