§ 872 » · www 46.- , The.- term " reconditioned ’* as_ used in this section include; the substitution ot the most modern, most emcient, and most {economical types of internal-combustion engines. as the main · propulsive power of vessels; _ Should the boarql have any such engines built in the United States and installed, in priiate shipyards or navy yards of the United States, in one or more merchant vessels owned by` the United States, and the coét to the board of Such installation exceeds. the amount ot funds otherwise available to it for that use, the board may transfer _ to its funds- `which expenditures under this section may bb peid, from its construction logn fund authorized _ by section 870,- so much ag in itsjudgnnent maybe necessary to meet obliogatiousunder contracts for such installation; and the Treasurer of the United States shall, at the request of the. board, mnke {the trai1§fer"acc0rdiug1y:· Provided, ·Tlint the total. amount A expended by the board for this purpose shall notin the. aggre» gate exceed $25,000,900. Any such vessel so equipped. by the board under the provisions ot this section shall not be sold for
a period of jive years from the dhte the installation thereof is
completed, unless it is sold for a price not less than the cost ot the installation thereof and ot any other work .·0t recondh tioning done at_the_ sdie-time plus an amount not lessthan §10 for each deadwreight ton ot the vessel as computed before such reconditioning thereof is commenced. The date ot, the completion _ of such installation and the amount- of the ,dend·weIght `rtommge of the vmel shall ‘be-' ilxed by the bonrd: _ Provided further, That in Hxing the minimum price at which the `vessel
- may thus be sold the board may deduct from the aggregate
amount above prescribed 5 per centum thereof per annum from ” the date of the installation to the date o£~sa1e· as depreciation: And provided fgrther, That no. part ot such fund shall be or pended upon the reconditioning ot any vessel unless the board shall have nrst made it binding contract for a Usntistuntory sale ot such vessel in nccordancei with the provisions of · this ind the following chapter, or - for the charter or lense- ot? such vessels for a period ot not lux than me years! by ·n capable, solvent: operator; or unless the board ls, prepared and intends {to directly put such vessel in operation immediately upon- com- Piétion. Such vessel, in any of the enumerated instances, shall be documented under the laws ot the United States and shall { remain documented under such laws for- a period ot not less than Eve years from the date of the completion of the. installation, end during such period it shall be operated only on voyages which are notyexclueiyely coastwise. (June 5, 1920, c. %0. { 12. 41. Stat. 993; June 6, 1924, c. 273. f 2. 43 Stat. 468.) 4- 872. Sale bf property other than yessels.-—-'1?he board is turtlier authorized to all property other than vessels transo terred to it under section 8% upon such terms and conditions ns the board may determine and brescribe: '( June 5, 1920, c. (250,§13,41St:&t.—993.) 1 ‘ _ 873. Use md disposition of `net hroceeds derived · from authorised activities; withdrawal of luvcttmmts.-—The net nrocwds derived by the borrd prior to July 1, 19m., trom my activltim authorized by this chapter, or by the p chapnter, or oy the acts specideal in section 882, exec? such in amount as the board shall. deem nécmsary to. w thbold as operating c•,pltal,_ furthe purposes of 871, and for _ the insurance fund authorized in motion 869, and for the com etruction logn fund authorized in section 870, shall be covered into the Treasury of the United g` Staten to the credit of the board and xnay lie expended by` it, within the limiti of the amount.: heretofore ·or hereafter authorised, ro: the c0nétruction; requisitioniug, or of jewels. W After July. 1, 1921, auch net lm such an amount as may be au- ·thorised· nnnuqlly by Congress, to be withlxeld no- operating cnmtnl. and less such sums as may be needed. for inch insurance and construction loan funds, shdll be covered into the
—8HIPPING 1549 - Treasury ot the United- St/atesns mlsceflaucous recéipts. The board shall, as 'rapidly as it deems advisable, wimdraw investment of Gbvermheut funds made during the emergency under Zthe authority conferred by·_thé Acts .0: parts of Acts repealed by action 862 gud cove; the act proceeds there<>£ _{uto the Treasqby qt the United States as miscellaneous receipts, (June 5, 1920, c.°250,.§ 14, 41 Stat. 993.) `· _ ` ‘ 874. Authority in respect to housing privileges for em- ‘ ployees términatedr-All autho tiqn to purchase, build, requisition, lease, exchange, `cr < houses, buildings; or 1and_` under the*Act entitled f Act to authorize and empower the pniized States Shipping Board Emergency Fleet _ Corporation to purchase, léase, requisition, or otherwise ac- 1 f·q1iii·e, and to sell or cthervdse dispose of improved or unim. proved lands, houses, buildings, and for other purp0scs," approved Mdrch 1,- 1918, is hereby terminated: Provided, howeper, That expenditures may Be made under said Act for the ` repair ct ·_h0uses and buildings already constructed, and` tlfe completion of uéhhousés orl buildings as haq been contracted / tor prior to June 5, 1920, or were bu that daté under cou- struction, if qd¤sidered advisable, and the board 'is authorized JY _"nud directed to dispose ot all such properties or \the‘ interesb ` dt the Uniteg1`=States in al1` such p1·0pe:·ties‘at as early n date . _ as `practicable, consistent 'wigh good. business sud. thé best interests ot the United States. (June 5, 19%, c. %0, { 18, 41Stat.994.)___ · _ " · — ` · 815; Possession am} cmtrol of equipment and `fujlifies.-4Thé hoatd. is authorized and dl ._ °`·t0 take over _ "0ix_ January 1; 1921; the possession and trbl ot, and to maintain and develop all docks, piers, warehbusu, wharvu and terminal. equipment am} tacilipaies, inclugiiug all leasehold gasemenqs,. rights or way; riparian rights and other rights, estates and interests therein or npgiurteusnt thereto, scquirul by the President by or under the Act entitled "An Act miking up- ‘proprintion3 to supply urgent deiciencleq nn nppmpidntiozns tor the fiscal year ending June 30, 1918, and prior Bscal years, on_ account ot war expenses, and for uber p¤£p0ses,” ~•p· _ proved March 28, 1918. _ _ “ ‘ ¢ ._ » The possession and jcoutrot of such other docks; piers, warehouses, whnryes and termingl equipment a¤d” facilities of parts tbcrpot, including all leasehold easements, rights ot
way, ripariaxi rights and- other _ rights, estates or interests
therein or appurtennut thereto which were acgq§re¢ by the War `Départment or the Nnvyf Department. for military ·or 'nnval · purposes during the war emergency may be trnngterred by the Prwident to the board _ whenever the President deems such ‘ transfer to be for the bést interests ot the- United Stated N _
The President may at ani timé he deems it necessary, by
order getting out the need therefor and Bxing the period ot such need, pérmitjjor transfer the podmsiou and control of any part of they property tnian _0mér‘ by or' trsndcrred to the . bogrd under section t0—`the Wir Department dr tbé_ Navy. Department for their needs, and when in the opinion ot the ~ Prmdent such need therefor ceases the pgseqion and coutrol ot such property qhnll revert tc` the- board; None ot such x property ¤hn'l1_ bq sold except nr may be pnjovided by mw. (Juilc 5. 1920; c. 250, I 17, 41*8mt. QM.) » n .~ » · 876. Power of board to sake mich and regulatiiviun.-—(1) The board in authorised had diroéted in aid of the iccbmpushy mcgt of the purpows of this chapter. — ‘ _ '(a) To make all `nqcemry rulé dud regulationsio carry out the provfsidngct this chapter; _ ‘ (b) T0 make rules and regulations affecting spipping in the foreign trade nqtin conhict ivithlhw in order to adjust or meet § general ot xspocinl conditions unfavorable to shipping in the toreini trade, whether in, any particular trade or upon any particular route or in commerce zcncrally and which arise out'
