Page:United States Statutes at Large Volume 40 Part 1.djvu/473

 SIXTY-FIFTH CONGRESS. Sess. II. Ch. 25. 1918. 455 Jrine thir1;tieth,_ninetei:1n hun%ed ancglusevr-ipteeinz §ro·vided;ilhor(§:evei£·S, {§,";g*g810,,ssle5 T atsuc earners as ave par nore ar vi en s or no `vi en ' during said drgeriod uilay, with glhelprioré approval of the President, a drviden at suc rate as the .esi ent ma determine. P gmc. 6, That the sum of $500,000,000 is hereliy appropriated, out eXg§,{’S{;’gf“‘*“°“ ‘°’ of an moneys in the Treasu:3 not otherwise appropriated, which, togetlirer wit any funds av 'able from any operating income of said carriers, may be used by the President as a revolving fund for the purpose of paying the expenses of the Federal control, and_so far as necessary the amount of just compensation, and to provide ,,q'§,§‘,L}f,§‘g,*}{S,;,c_°“‘S» terminals, motive power, cars, and other necessary equipment, such termmals, motive powe1j,·cars, and equipment to be used and accounted for ashthe&fPresi)der;t may dtirect and to be disposed of as · Co essma ere ter y awprovide. _ _ Cl1'@ Presidbnt may also make or order any carrier to make any ,,q{°‘,,§,‘lff,§§’,‘@f»'§’ ; additions, betterments,dor irlpad extensions, and to provrdie  thawedmotive power cars an o er equipment necessary or _ esu·a e or war purposes lor in the prgillic intepest on of in cpnnecglqlni wagth the property of any carrier. e may rom sar revo ving _ _ vance A¤v¤¤¤¤¤ *0 gmafs g such tparrier alldor arg part of thin expense og sqch addrtronlsg lglert- mr I °"° d°md' rmen or roa ex nsions an o provide ermmals o e power, cars, and other necessary egrlriprnent so ordered and constzructeél by such cairrier or bydt eb esrdent, such adlyances tpl m char e ainst suc carrier an to ear interest at suc rate an paysiile gid such terms as may be determined by_the President, to the end gmt ting United States may be fully reimbursed for any sums so a vance . Any loss claimed by any carrier by reason of any such additions, c,§°,,§§§"§‘,‘;,“ betterments, or road extensions so ordered and constructed may_ be ¤¤=· determined by agreement between the President and such carrier; failing such agreement the amount of such loss shall be ascertained *‘”"* ***5* as provided in section three hereof. _ rom said revolving fund the President may expend such an p0Y§}i§,§,Y,Z,‘}1*§}Q}'“““‘ amount as_ he may deem necessary or desirable for the utilization and operation of canals, or for the purchase, construction, or utilisatioph and operlptilplri ofi boats;] barges, tugs, and other transportation fac` 'ties on the' an can an coastwise waterways an mayin the operation and use ,0f such facilities create or employ such agencies and inter into such contracts and agreements as he shall deem P°”· P- lm in the pu lic interest. Sec. 7. That for the purpose of providing funds requisite for ,,,,I,.§.’f;‘,§‘,¥u;”l§‘;“,€§$,“8§ maturing obligations or for other lega and proper expen itures, or ¢¤¤¤<>i~ for reorganizing railroads in receivership, carriers may, during the period of Federal control, issue such bonds, notes, equipment trust certiéixiates, stock, and lpthlep fpirms of seglusrrties, secured or unsecure y mortga e as the esi ent may t approve as consistent with the public giterest. The President mgy, out of the revolving rt§g§fri;°£u¤s°ii6v% fund created by this Act, purchase for the nited States all or any mmpart of such securities rigs prices not exceedéng pali, and may sell spe securities whenever in judgment it is esira e at prices not ess than the cost thereof. Any securities so lpurchased shall be held bg tgp Secretary of the ’l‘gea%11ry,(vg1o sha, rgplder the direction of t e esident represent the United States in matters in connection therewith in the same manner as a private holder thereof. The R°°°m° 2 E ° President shall each year as soon as practicable after January first, cause a detailed report to be submitte to the Congress of all receipts and expenditures made under this section and section six during the preceding calendar year. _ Mmm for eww 1-10. 8. That the President may execute any of the powers herem m¤¤xp¤wm,m:n¤r· and heretofore granted him with relation to Federal control through imd-