514 SIXTY—FIFTH CONGRESS. Sess. I1. C11. 45. 1918. E”°"P“°'“· Nothing in this title shall be construed to authorize such Compnittse to pass pipon (gl any borrowing by gy person, iigsn, corppgaé 1on, or associa on m e ordmary course 0 usmess as trlggriis from borrowing for capital imposes, (2) the renewing or nmding findebtedness existin at tllie time of the passage of this Act, (3) the ° . . g . . . resale of any securities the sale or offering of wh1ch the Committee has determined to be compatible with the national interest, (4) an securities issued by any railroad corporation the roperty of which may be in ge posslegsicn and goxgtrohofvprhe lfvresidlentcof the United States, or 5 any nds issue the ar inance or ration. _ Ngtzppgpggrswiw Nothing done or omitted by the Committee hereundiiz? shall be nl" " construed as carrying the a proval of the Committee or of the United States of the legality, validity, worth, or security of any securities. Saj§_’,1gS“?g’n;f“Q‘;;*;;&*“ Sec. 204. That there is hereby appropriated out of any money in the Treasury not otherwise appropriated, for the remainder of the Escal year ending Jime thirtiet , nineteen hundred and eighteen, and the fiscal year ending Jnme thirtieth, nineteen hundred and nineteen, the sum of $200,000 for the piupose of defraying the e ses of the establiihtmleniiil and mairétenancg of the inclnlidiihfg the pay- ment o e s aries an rents erem aut onz . R¤v¤M<><><>¤sr¤¤· Sec. 205. That the Committee shall make a report to Congress on tlge first gay oé each rfilgnilar se;;1(pn;\lSmclu d2js1ailed staterpeplti o recci an uxpen , o m u e names 0 T _ mmm officers gud employees and the salary paid to each. _ ,,,,,,,,°’"‘“‘“w,,_ Sec. 206. That this title shall contmue 111 6flB0t_U]1h1l, but not after, the expiration of six months after the termination of the war, the » date_o such ternunation to be determmed by a. proclamation of the President of the United States, but the President may at any time by proclamahlpplldudam thb2;t_ thef title is no longer necessary, and thereupon it s cease to m ect. M'“°°“°“°°‘“· Trrmt III.—M1scm.1.a1~moUs. h§§,§,¥'shn‘§§“§,§§§,,;§§g Sec. 300. That whoever willfully violates any of the provisions of ¤p¤¤i¤¤d· this Act, except where a different penalty is provided in this Act, shall, upon conviction in any court o the United States of competent jurisdiction, be ined not more than $10,000 or imprisoned for not A¤¤¤¤¤*¤=· more than one lyear, or both; and whoever knowinlglly participates in api; ipch vilodptilpn, exceptdwgere ahcljiffzgnt pen ty is provided in t ct, s e pums e y a e e or imprisonment, or both. ,,§,§’,,.Ef'§},‘“$.,,i'§"F..,E Sec. 301. That no stamp tax shall be required or imposed upon a gj¤c¤<**>v*·‘>¢¤Y b¤¤<*>· romissory note secured by the pledge of bonds or obhgations of the ` llnited States issued after April twenty-fourth, nineteen hundred and Pmm seventeen, or secured by the {pledge of a promissory note which Cqgdjtign, itself is secured by the pledge o suc bonds or 0bl1gations:]’ro·4yuled Thaitl itnl either case fthe Har value of such bonds or obligations shall equ e amount o suc note. l“"“"‘”“' °' my Ssc. 302. That if any clause sentence paragraph or art of this cl.iuse,etc.,¤ot toatfect 1 1 1
- ¤¤¤*i¤d°’°'A¤°· Act shall, for any_reason, be adjudged by any court ofp competent
jurisdiction to be invalid, or, in case any court of competent jurisdiction shall adjudge to be invalid any provisions hereof in res ect of any class or classes of securities, such ju@ent shall not afiiect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, part, or subject matter of this Act directly involved in the controversy in which _ _ H such judgment shall have been rendered. "S°°‘”‘“°$ d°“°°d· Sec. 303. That the term "secu.rities," as used in this Act, includes stocks, shares of stock, bonds, debentures, notes, certificates of indebtedness, and other obligations.
