Page:United States Statutes at Large Volume 39 Part 1.djvu/752

 SIXTY-FOURTH CONGRESS. Sess. I. Ch. 451. 1916. 731 liabilities governing merchant vessels, whether the United States be interested therein as owner, in whole or in part, or hold any mortgage, lien, or other mterest therein. No such vessel, without the approval T"”‘°"’ '°“"°“’d· of the board, sléall be triansferred to alfpdreggn rlpgisbgyrpr lilagpl or sold nor, except un er regu ations prescrr y the, e c artere or leased. When the United States is at war, or during any national emergency fer]:   the existence of which is declared biy proclamation of the President, °i‘}§§’i,_ lm no vessel registered or enrolled an hcensed under the laws of the ' United States shall, without the approval of the board, be sold, leased, or chartered to any person not §clt1Z€§’ of the United Stages, or trans- Vmb M me to be f d to a fore' registry or ag. o vesse registere or enrolled aihdclicensed uuid; the laws of the United States, or owned by any gg:ld°¤t‘*i4··B·g?td wm person a citizen of the United States, except one which the board is prohibited from purchasing, shall be sold to any person not a citizen of the United States or transferred to a foreign registry or flag, unless such vessel is first tendered to the board at the price 1D.(Fo0d faith oiferlped by others, craig no suc? offetgl at a fair price to be etermrned ' themanuer rovi e insecion . mAny vessel gold, chartered leased, transferred, or operated in uf_*j"•**¤*• ‘°* vmviolation of this section shall be forfeited to_ the United tates, and whoever violates any provision of this section shall be guilty of a Pm t immisdemeanor and subject to a fine of not more than $5,000 or to P,,,,d_“'““°" imprisonment of not more than five years, or both such fine and ° nt. ” www lx(lIlcThat the President, upqngsving to the Eisen interested ggérgmqsg Emil} such reasonable notice in writing as in Judgment t cucumstances permit, may take possession, absolutely or Lsglporanly, for any naval or mrhtary piupoec, of anppvessel purcli, leased, or chartered PMN from the board: frwrded, _ at if, in the ]udgment of the President, warm; notice. an emergency    such 80l»1011 he may take possession of h ou no ice. _ &Dl‘li‘eli·(eafvteB??Bu& ascerpltilainment by oir othe;·w:1se, aphe P"”‘°""°"°"“"°· `dSttes eersonmres ea1rac_u vue llgalsleid upoii nofmal cldiiditionspat the time of taking of the mterest of such rson in every vessel taken absolutely, or_1f taken for a limited 6886 0 8.gI'BBID8l1 8S S C _ value. ¥,‘i"°§fi“‘}‘°i§;,"’ °*‘°‘°"’J'°"i$ “3d§?£§'$?.ll§??St%”§¤f3Ei§$I*§r£23‘L‘§: A   ··· ` to be appointed by the   one by the erson mtergsillildimsrliil (aimlihird by the two so appomteil. Thefinsing of such “P§““°” Siiutli“%31.;‘é‘dr”r‘1??t‘§‘?u‘&‘§‘£[$el’€2?.c¥.“§2‘$¤i,,,..,m,,, supper to c%l>i1t tlile puiiposes Jr this Act, may form under the laws of the  ¤¤`l> S°‘i—°€i‘ ami LTI, .,,··§sr;.·;.;·;· ····<· ` 90 S 1 _ 7 • Y ' ligpihd ?>ii0lieha.li?Iof the United Statespumrlpbe; to, pm·cp1ase;-ppg, gg? ' `t f the ca ita s o any suc co, lalrtidlilsd iil1lu:>tl1eii·1agl(ili%(in regard thereto necessary to protect the interests of the Unite States and to cing (git Qgé I;¤1£<;Sic(§ ESB sms 0,mck_ A°Zr }{lZ‘r§.,b§’r”£,'c‘i; E?E£Ji3‘L£2EH’§£Ir’2lB§iutS§af§§ip$’$u2;0¤,’but it .1% _ lsiline shall it be a minority stockholder therein: Provided, Thatdno m.f’;'”°w"'{§:!Lm;§k;l:g:: ‘ ‘ which the United St8·$BS 15 8- S*>9¢kh°ld°l`» f°I'¥u€d lm er shammi. lhgpghlliggtln of this section, shall engage m the operatron of any vessel constrlicted, purchased, leased, c artered, or transferred upgler ide effort' to cmltmct wl y Pcf h vessel under such terms and for the purchase, lease, or chgrelgljbf; Egg board conditions as may e prescrr _.
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