54 STAT.] 76TH CONG., 3D SESS.-CHS. 720, 721-SEPT. 16, 1940 (e) The term "district court of the United States" shall be deemed to include the courts of the United States for the Territories and the possessions of the United States. SEC. 16. (a) Except as provided in this Act, all laws and parts of laws in conflict with the provisions of this Act are hereby suspended to the extent of such conflict for the period in which this Act shall be in force. (b) All the provisions of this Act, except the provisions of sections 3 (c), 3 (d), 8 (g), and 12, shall become inoperative and cease to apply on and after May 15, 1945, except as to offenses committed prior to such date, unless this Act is continued in effect by the Congress. (c) There are hereby authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, such sums as may be necessary to carry out the provisions of this Act. SEC. 17 . This Act shall take effect immediately. SEc. 18. This Act may be cited as the "Selective Training and Service Act of 1940". Approved, September 16, 1940, 3:08 p. m., E. S. T. [CHAPTER 721] AN ACT To authorize the Reconstruction Finance Corporation to make loans for the development of deposits of strategic and critical minerals which in the opinion of the Corporation would be of value to the United States in time of war, and to authorize the Reconstruction Finance Corporation to make more adequate loans for mineral developmental purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 14 of the Act entitled "An Act relatig to direct loans for industrial purposes by Federal Reserve banks, and for other purposes," approved June 19, 1934, as amended, is amended to read as follows: "SEc. 14. The Reconstruction Finance Corporation is authorized and empowered to make loans upon sufficient security to recognized and established corporations, individuals, and partnerships engaged in the business of mining, milling, or smelting ores. The Recon- struction Finance Corporation is authorized and empowered also to make loans to corporations, individuals, and partnerships engaged in the development of a quartz ledge, or vein, or other ore body, or placer deposit, containing gold, silver, or tin, or gold and silver, or any strategic or critical mineral which in the opinion of the Reconstruction Finance Corporation would be of value to the United States in time of war, when, in the opinion of the Reconstruction Finance Corporation, there is sufficient reason to believe that, through the use of such loan in the development of a lode, ledge, or vein, or mineral deposit, or placer gravel deposit, there will be developed a sufficient quantity of ore, or placer deposits of a sufficient value to pay a profit upon mining operations: Provided: That not to exceed $20,000 shall be loaned to any corporation, individual, or partnership for such development purposes; except that not in excess of $40,000 in the aggregate may be loaned to any corporation, individual, or partnership for such purposes, if such corporation, individual, or partnership has expended funds previously obtained from the Recon- struction Finance Corporation for such purposes in such manner as to justify an additional loan for such purposes: Providedfurther, That there shall not be allocated or made available for such develop- ment loans a sum in excess of $10,000,000." Approved, September 16, 1940. 897 "District court of the United States." Suspension of con- flicting laws. Period of operation, etc. Appropriation au- thorized. Post, p. 970. When effective. Short title. September 16, 1940 [i. 4008] [Public, No. 784] Reconstruction Fi- nance Corporation. 48 Stat. 1112 . 15 U.S. C. §606d; Supp. V , § 606d. Loans for mineral development purposes. Strategic or critical minerals. Provisos. Maximum loan. Aggregate amount. 193470°-41 -PT . I - -57
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