Page:United States Statutes at Large Volume 40 Part 1.djvu/522

 504 SIXTY·FIF TH CONGRESS. Sess. II. Ch. 44. 1918. m‘{',,;°;§‘,@f°°““"*G°" Sec. 2. That the last sentence of section two of said Act approved dam, p.zsc,¤me¤¤- September twenty-fourth, nineteen hundred and seventeen, be, and ° ‘ _ is hereby, amended to read as follows: ¤.;},§§{°P'*“t‘°“ ’“' “For the purplpses of this section there is appropriated, out of any P•1·*¢»PP- $44, 1312. money in the reasury not otherwise appropriated, the sum of $5,500,000,000, and in addition thereto the unexpended balance of 4”“· 1’·” the apppopriiiltions madehbygecgiongzwo of said act approved April . twenty- ourt, nineteen un re an seventeen, or so much thereof ihllztliliistfitywezeaueat as may be necessary: Provided, That the authority anted by this °“‘*°""’· section to the Secretary of the Treasury to establish credits for foreign Governments, as aforesaid, shall cease upon the termination gf) the war between the United States and the Imperial German vernment. §°,§§°,’j‘gg‘0°g§,§g; Sec. 3. That section four of said Act approved Se tember twenty- cd- ' gpiuirth, nineteen hundredhsandfsleventeen, is hereby amended by mg two new paragra, as o ows: Eggi l§§§°;,,§,*;;1},,f "That holders of bonds bearing interest at a higher rate than four ipkigzm pp 288 35 per centum per annum, whether issued (a) under section one, or (b) ’ ' upon conversion of four {per centum bonds issued under section one or (c) upon conversion o three and one-half er centum bonds issued under said Act approved April twent —fourtii, nineteen hundred and seventeen, or (d) upon conversion ofy four er centum bonds issued upon conversion of such three and one—halfP per centum bonds, shall Remmm not be entitled to any privil% of conversion under or pursuant to Am, p_291j this shectionu or ptirervgisse. e provisions of section seven shall exten to a suc on. °,,°§’,0‘§§,?‘f,§,,0‘,‘Q,§°,{°** "If bonds bearing interest at a higher rate than four per centum per annum shall be issued before July first, nineteen hundred and eighteen, then any bonds bearing interest at the rate of four per cergurnhper  pvhicl;1 shall, after Jply first, nineteen hundred an eig teen, an e ore the ex iration o the six months’ conversion period prescribed by the Secretary of the Treasury, be presented for conversion into bonds bearing interest at such higher rate, shall, for the purpose of computing the amount of interest payable, be deemed to have been converted on the dates for the payment of the semiannpal interegt onhthp respective bonds so presented for con- _ version, ast prece ingt e ateo such resentation.” e(§,°€Q;‘f1""°S°"“d°b*‘ S Sec.   That theflast islentence of setilign (give of said Act apiproved Aiwa v· 291. ¤¤1¤¤<1— eptem er twenty- ourt, nineteen hun re and seventeen e and ed. J y ` _ is hereby, amended to read as follows: §§‘§f‘§§f‘d°d· "The sum of such certificates outstanding hereunder and under 1’<>¤» 1>· 1311- section six of said Act apHroved April twenty-fourth, nineteen hundred and seventeen, sha not at any one time exceed in the _ aggregate $8,000,00Q,O0Q." _ _1j·;g;>S3_¤,Q,i>1<,;$,$<j,§,_ zo. 5. That section eight of said Act approved September twenty- ea. ’ ’ fourthé ninptgen hundred and seventeen, e, and is hereby, amended to rea as o ows: ,,§§‘,§°d°“if,1’i,%}‘,§’,£‘l°‘ "SEc. 8. That the Secretary of the Treasury, in his discretion, is hereby authorized to d(§nposit, in sigch incorpiorated banks and trust companies as e may esivnate, the rocee s, or any art thereof arising from the sale of tlile bonds arlid certificates of indebtedness hmm', em m _ _ and war-savings certificates authorized by this Act, and arising from @,,,,5 ad({€d_ ‘* ‘ ‘° the payment o income and excess profits taxes, and such deposits shall 1¤¤¤1¤$r bear such rate or rates of interest, and shall be secured in such manner, and shall be made upon and subject to such terms and conditions §T3;·f3,mm€,,umd as the Secretary of the_ Treasury may from time to time prescribe; ,0, #,,,5,,; ,;,0;,,,,. da Provided, That the provisions of section fifty-one hundred and ninety- pegfsgq Sm 5,9,, p_ one of the Revised Statutes, as amended by the Federal reserve Act, 10%, 35 P Gm and the amendments thereof, with reference to the reserves re uired ‘ * ‘ W to be kept by national banking associations and other member(l>anks of the Federal Reserve System, shall not apply to deposits of public