80 FORTY-THIRD CONGRESS. Sess. I. GH. 304, 305, 306. 1874. J imo 18, 1874. CHAP. 304.-Au act explanatory of theiyaxit of Juno thirtieth, eighteen hundred and —————·—·——-~ six -ou1·. Bc it enacted by the Senate and House of Represcntatijvcs of the United Deposits in c er- States of America in Congress assembled, That all deposits made in instimm S*W*¤SS*b““k“ tutions now existing which do business only as savings-banks, and are
- QxiQ{’,0‘;f*°"'”° m"" recognized as such by the laws of their respect1ve_States, or by Gon·
`gross, are hereby declared to be exempt froin taxation the same as deposits in savings institutions baring no capital althongh they have :1. capital stock or bond for the additional security of their depositors, and pay dividends thereon; and no tax shali be assessednpon the deposits made in such institutions, or collected of them on said deposits, other- Proviso. wise than as herein provided: Provided, fifhat all the profits of such savings banks, less the aforementioned dividends onstock not exceeding at the rate of eight per cent. per annum me divided among the depositors, and that the capital stock is invested only m the same class of securities as is used for investing the deposits, and that mterest at the rate of not less than four and one-half per cent. be paid in all cases to their depositors, to be made good if necessary from the capital stock. J. G. BLAINE Speaker of the House of Representatives. MATT H CARPENTER President of the Senate pro temporc. Received by the President June 6, 1874. [Norm mr Tun DEPARTMENT on Sums.-The foregoing act having been presented to the President of the United States ior his approval, mid not having been returned by him to the house of Congressiu which it originated within the time prescribed by the Constitution of the United States, has become a law without his approval.] Juno 1S, 1974. CHAP. 305.-Au act to authorize the issumace of patents for lands granted to tho State ‘ "‘ " of Oregon in certain cases. Whereas certain lands have heretofore, byactzs of Congress, been P,.mmb,c_ granted to the State of Oregon to uid in the construction of certain military wagon-roads in said State, and there exists no law providing for the issuing of éormal patents for said lands: Therefore, Bc it enacted by the Senate and House of Itcprescmfatives of the United 1>,.;,~m to iggug States of America in Congress assembled, That in all cases when the roads f<>n·1:mds graucedibr in aid of the construction of which said lands were granted are shown °;**;**j"1°'·;°*6°* **:*9 by the certificate of the governor of the State of Oregon, as in said acts °°‘"“° " mg “‘ provided, to 'have been constructed and completed, patents for said lands shall issue in due form to the State of Oregon as last as the same shall, under said grants, be selected aud eertiiied, unless the State of Oregon shall by public act have transferred its interests in said lands to any corporation or corporations, in which case the patents shall issue from the General Land Office to such corporation or corporations upon p,.0v,S.,_ ;heir payment of the necessary expenses thereof: Provided, That this shall not be construed to revive any land grant already expired nor to create any new rights of any kind except to provide for issuing patents ibr lands to which the State is already entitled Approved, June 18, 1874. Juno 18,1574. CHAP. 306.-A11 act authorizing the President to reinstate George M. Book ou the ‘““"‘_—`*‘_ active list of the Navy. _ _ Be it enacted by the Senate and House of Representatives of- the United i7:(f°”1‘})°"*;;';;:;T_QiE States nf America, in Congress assembled, Th at the President of the United (;‘,,mg‘, M_ B',,0k‘m, States be, and he is hereby, authorized by and withjho advice and conactiw; ts: o1‘mv,.sent oi' the Senate, to reinstate George M. Book on the active list of me
