Page:United States Statutes at Large Volume 43 Part 1.djvu/393

 362 SIXTY—EIGHTH CONGRESS. Sess. I. Ch. 243. 1924. of War may delegate to the chairman any of the functions vested M to M in the Secretary by this Act. _ _ where called by the Secretary of War, and thereafter at such times ¤d°$’£°'° ‘° °° °°”' and places as the Secretary deems necessaiy. The board shall consider matters submitted to it by the Secretary of War, and make recommendations thereon, and from time to time advise him and make recommendations, m respect of the management and operation oféexistmgriacihties, cm the development and operation of new lines. 1:c. 5. e corpora ion- ,,,$,‘§§f°‘ °°“‘°""° (a) Shall have succession in its corporate name during its existenceb) liay sue and be sued in its corporate name; c) May adopt a corporate seal, which shall be judicially noticed, an may alter it at pleasure; §d) ihgay make colptf(2;.cts;d di f _ e ay acquire, o an spose o pro e · ‘ B"“'“°“ °m°°”· °“`" (f} May appoint, fix the compensation of, gnldtiiemove such officers, cmp oyees, attorneys, and agents as are necessary for the transac— tion_of the business of the corporation; define their duties, and _ re uire bonds of them, and fix the penalties thereof; “‘“""“’°""“ “'“"°°‘ (gg) May incur oblilgations, borrow money for temygaraiy purposes, l an issue notes or other eyidences of indebtedness t refor, but the gggregate amoupt of the mdebtedness at any time shall not exceed mm mw 5 pier cletntum o the va uefofhthegglssets at such time; $.2: .. sammy et b ay exercise any o the ctions vested m_ the Secretary of WL u'p_ m 4,,, Egg dg;1 sections wl and 500 of the Transportatmn Act, 1920, as mm . > . . . uiiiieiigiiiim. on (1) May, H1 the BKQNISB of Such f\1I1§7tl0§lS, conduct the business of a common carrier by water, and maintain, manage,_ and operate properties held fom pr useld in the sgrvice of transportation, or neces- . sary or convenien o suc use- an ,,,?,?§$ i”°`d°°m (j) In addition to the powers specifically granted, shall have such powers as may be necessary or incidental to fulfill the purposes of waterway mama its creation. to s. gmmrenegi m Src. 6. (a) The Secretary of War shall transfer to the corporation °‘*`*€i.}r*”Y§:·iZ¤ wi SH “§?f§$ 3§2”3i°”Z$i>$°ai°'u?°“§§'°d£ °°“S2'“v‘%?°d’ °' °i1°`3§“d '°"* - ru rei e crearyo ar ‘ V l M P mg to the United Sitates, under section 201 of the Trhr(isiptii·t:i‘tioifeiiil€bIt‘; °· · · · 1920 as amen ed. or under the 'oint re I t' {tl d “ ‘ resoliition to exempt the New Yoigk Statesiliiiigzl ézailniil efroriiothlg prlpvisions of section 20(ldoIf_ glue Transportation Act, 1920, and for . other purposes,’ approv e ruar 27 1921. m*}:mmg*;g{¢=**°°°·  The rights, privileges, and ypowers and the duties and liabilities, of the Secretary of War, or the inland and coastwise waterways ssrvice, gi respict 02 unyfCOI1tI‘&Ct. 10311, lease, account, or other o. lga 1oH, lug: er sec ion O1 o sinch Act, or under such youu; resolution. sha _ _ ome the_r1ghts,fpr1v1leges and powers, and the duties Mmm made wm and liabilities, respectivelv, o the corporation., All money available for expenditure or the m k' { 1 "“'° Exc) h . . I t- . ¤ mg o oans un er suc éoint reso u ion or section 201 of such _Act, and all mopioyl r;(p{1i0f1@1upl1;r*s{gnceho§ lgans maid;] uiider subdigision (c) of seco c .sa eavaiaeorex °t Chmsubmmm making of loans by the corporation under this Actpen 1 um or the mrpmmm. (d) The enforcible claims of or against the Secretary of War or ·the inland and coastwise waterways service, in respect of the operation, construction. or acquisition of any such transportation facilities, shall become the claims of or against, and may be enforced by or against, the corporation.
 * ,,,.,?°' ° " (d) The board shall meet for organization purposes when and