Page:United States Statutes at Large Volume 43 Part 1.djvu/1294

 SIXTY-EIGHTH CONGRESS. Sess. II. Ch. 524. 1925. 1263 expenses on appropriations duly made by Congress: Provided, That Qvjggmw cm, the present legal status as to assessments against Federal intermediate banks, asesmeni rei credit banks shall continue until June 30, 1926, without appropria— 19% tions by Congress. ' " If any deficiency shall occur in such fund during the half-year de*,‘;§g’;;_§”’ °° °°"°’ period for which it was estimated, the Federal Farm Loan Board ' shall have authority to make immediate assessment coverin such dehciency against the Federal land banks, joint-stock land Tanks, and_Federal intermediate credit banks upon the same basis as the origmal assessment. If at the end of the six months’ period there m§;“l'§’(Qg‘,,,§°b°““°d‘°' shal remain -a surplus in such fund, it shall be deducted from the ' estimated expenses of the next six months’ period when assessment is ‘rnI‘ad§ fof siuclé réeriid. _ d f P t { I d e era an an appraisers an a raisers or ins ectors o "Y“‘°“ ° -‘“’ Federal intermediate credit bankd, shall iigzeive such conilipensation gggkggiiogiwmm as the Federal Farm Loan Board shall fix and shall be aid by the Federal land banks, joint-stock land banks, and the Federal intermediate credit banks they serve in such proportion and in such manner as the Federal Farm Loan Board shall order." _ _ SEO. 4. That the ninth paragraph of section 3 of the Federal Farm ,p°;;i§‘§,?‘§i§“§{§"},’,§,‘}§l{',‘§,l Loan Act be amended by adding after the word " thereof " in the eesthirteenth line of said paragra h, the following: " and may be d,,`§f’l‘ 3°’*"3“’“”‘°“' classified without regard to the Classification Act of 1923,” so that the paragraph as amended shall read: “ The Federal Farm Loan Board shall be authorized and i,,]{:,“"$’y°]§,m°“*L1I,§’,§§ empowered to employ such attorneys, experts, assistants, clerks, B°’*'d· laborers, and other employees as it may deem necessary to conduct the business of said board. All salaries and fees authorized in this section and not otherwise provided for shall be fixed in advance by said board and shall be paid in the same manner as the salaries of the _ Federal Farm Loan Board. All such attorneys, experts, assistants, s6,"§j"§a§§§.{,$°‘ ‘° °"“ clerks, laborers, and other employees, and all registrars, examiners, Vol.22,p.403. and appraisers shall be appointed without regard to the provisions Of the Act of January 16, 1883 (22 Stat., 403), and amendments Clmmmm Act thereto, or an rule or regulation made in pursuance thereof and mmguaea. may be classifilzd without regard to the Classification Act of 1923: ‘}$’,;,,§%j*’·‘“°‘ Provided, That nothing herein shall prevent the President from nogrsggggg ¤¤ dwiplacing said employees in the classified service." ` Sec. 5. The last two aragraphs of section 16 of the Federal Farm Jena saw: nm: Loan Act as amended be stricken out and the following inserted in "*‘{}§{· ,,, ,,_ ,0,, lieu thereof:. . °°i·i»li1(i»°r2i orjolntstock " For the purpose of assisting in any such liquidation authorized land umu any agas in the preceding aragraph provided, any Federal land bank or §‘,}‘f{,§`,}}§’,§$§;,i’°°°"°' %0int—stock land bang may, with the approval of the Federal Farm man Board, acquire the assets and assume_the liabilities of any mm mmm H joint-stock land bank, and in such transaction any Federal land ,,,,,,,,d_ ° bank may waive the provisions of this Act requiring such bank to acquire its loans only through national farm loan associations or agents, and those relating to status of borrower, purposes of loan, mmmnmum mm and also the limitation as to the amount of ind1v1dual loans. No by 1:,,,,,,,1;,,,,,, b‘§m,_ · Federal land bank shall assume the obligations of any ]Ol1lt—SlEOCk land bank in such manner as to make its outstanding obligations more than twenty times its capital stock except by creation of a Special reserve equal to one-twentieth of the amount of such addi- Byjomwmk md tional obligations assumed. No joint-stock land bank shall as- i,8,,;_ sume the obligations of any other ]o1nt-stock land bank in such manner as to make its outstanding oblivations more than fifteen times the amount of its capital and surpius, except by creation of a special reserve equal to one—fifteentl1 0 the amount of such additional obligations assumed.” 45822°—-25i---82