Page:United States Statutes at Large Volume 41 Part 1.djvu/1011

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990 SIXTY—SIXTH CONGRESS. Sess. II. Ch. 250. 1920. A vacancy in the board shall not imlpair the right of the remaininlg sen. members of the board to exercise a its powers. _ The board sha have an official seal, which shall be judicially noticed. ,€g§}j*;91g§mPg8“g§§’°» ‘ ‘The board may adopt rules and regulations in regard to its pro- ' cedure and the conduct of its business. The board may employ within the limits of appropriations made therefor by Congress suc attorneys as it finds necessary for proper legal service to the board m the conduct of _1ts work, or for proper representation of the public interest in investigations made by it or proceeduigitpending efore it whether at the board’s own instance or upon comp t, or to appear for or repiresent the board in any case in court or other tribunal. m?,““*S·,gf,‘;;£,§f,fé§,*f*‘ The boar shall have such other rights and perform such other duties not igpconsistent wjth the Melgchianitrgiarme Act, 1920, lps are cqpg ferre by existin aw upon the o in existence at the time t ` _ section as amended takes effect. _ _ m'§g‘*j};°*`°r W °‘;”&‘u'·{j "The commissioners in office at the t1me this section as amended magnum. takes effect shall hold office until all the commissioners provided for in this section as amended are appointed and ual1fy." “;'°*·3°·P·7’°·°m°““‘ (b) The first sentence of section 4 of the Jhhipping Act, 1916," ` is amended to read as follows: sam of members. "Sec. 4. That each member of the board shall receive a salary of 312,000 per annum." _ qu·}£dG°§j;s};{s’f”§,{{,fj Sec. 4_. That all vessels and other property or interests of whatmmsxeneam smc. soever kind, including vessels or property m course of construction or contracted for, acquired by the President through any agencies whatsoever in pursuance of authority conferred by the Acts or parts

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’ resou ion en 1 e om res ion take over for the United States the possession and title of any vessel within its jurisdiction, which at the time of coming therein was owned in wholgl or inhpapyt by corporation, citizen, or subject of;1 any nation ' h h t t b t Y t t Suit. Ddiofind r.§;3?h’§§§ur‘§.$‘S..S`f??‘;.§p‘§.EOZ?f.fi.i E lfiitigf I? ‘*°"°*`¤m°" “S° wit the exception o vesse s an property the use o w `c is in the Bmptm 0 inion of the President re uired b any other branch of the Govern- P _ , ‘l Y men serviceo e n1 .e a es, are ere > rans e e . t fth U tdbtt lyt frrdto theboard· {Q{g;§g’,m,,,_, WMO, Provided, That all vessels in the military and_naval service of the pg;1;·p<>;>?;$g;m¢s¤x· Uniteld States, including the vpessels assigned to river and hairbor work, ‘ ’ "" inlan waterways or vessels or such needs in the course o construction or under contraqt by the War Department, shall be exempt my . ,__ _ from the provisions o this Act. _ seiiileextiiggilthiidled. Sec. 5. That in order to accomplish the declared purposes of this il?ct,dand tqhcarrydoutdtgijer pplipy deqlared in section 1t_he1{)eigf,cf)lge oar is au orize an ec e ·o se as soon as prac 1ca — sistent with good business methods and the objects and purposes to be attained y this Act, at public or private competitive sale after Fwmm appraisement and due advertisement, to persons who are citizens of Pink, P. edi. the United States except as provided in section 6 of this Act, all of T»rms,etc. the vessels referred to in section 4 of this Act or otherwise acquired by the board. Such sale shall be made at such p)rices and on such terms and conditgopls as this board maydprescribe,h ng; the poréplletiog of the payment o thepurc ase pricean interests a not e e erre Cfomi¤l<>ra¤i_opS pu- more than iiftoeii years after the making of the contract of sale. t”““g‘“`”Y’“”°§H°g‘ The board in fiéxing or acgepting Eg sage price of spqh vessels slipll take into consi eration the preva' ¤· omestic an oreign marjet price of, the available supply of, andbthe demand for vessels, existing freight rates and prospects of their maintenance, the cost of constructing vessels of sim ar types under prevailing conditions, as well as the cost of the construction or purchase price of the vessels to be sold, and any other facts_or conditions that would influence a prudent, solvent business man in the sale of similar vessels or prop-