Page:United States Statutes at Large Volume 45 Part 1.djvu/743

 692 SEVENTIETH CONGRESS. SEss. I. CH. 675 . 1928 . Insurance against all "(g) The board shall also require and the security furnished shall insurable risks required . provide that the owner of the vessel shall keep the same insured against loss or damage by fire, and against marine risks and disasters, and against any and all other insurable risks the board specifies, with such insu rance compani es, associati ons, or underw riters, and under such forms of policies, and to such an amount, as the board Premium payments may prescribe or approve ; such insurance shall be made payable a greements . t o the board and/or to the parties, as interest may appear . The board is authorized to enter into any agreement that it deems wise in respect to the payment and for the guaranty of premiums of insu ranc e ." (b) Section 11 of the Merchant Marine Act, 1920, as in force immediately prior to the enactment of this Act, shall remain in force in respect of all loans made before the enactment of this Act. Prior loans not dis- turbed. Vol.41,p. 993. Increase of loan fund. Additional appropri- ation of $250,000,000 au- thorized for. Ante, p. 586. Post, pp. 889, 910. No further credit to the fund . To be a revolving land. Ocean mail service. Scope of title. All mails between ports, excluding Ca- nadian, to be carried on contract vessels. Requirements of Postal Service. Postmaster General to certify to Board what ocean mail routes be established between por ts now se rved by foreign vessels. Di strib ution, etc. INCREASE OF CONSTRUCTION LOAN FUND SEC. 302. (a) There is authorized to be appropriated, to be credited to and for the purposes of the construction loan fund created by section 11 of the Merchant Marine Act, 1920, as amended, such amounts as will, when added to the amounts credited to such fund by the United States Shipping Board under authority of law (exclusive of repayments on loans from the fund), make the aggre- gate of the amounts credited to such fund (exclusive of such repayments) equal to $250,000,000. (b) When $250,000,000 has been credited to such fund (whether by the board under authority of law or from appropriations authorized by this section, but exclusive of repayments on loans from the fund) then no further sums (except such repayments) shall be credited by the board to such fund. (c) The construction loan fund shall continue to be a rev olv ing fund. Repayments on loans from the fund shall be credited to the fund, but interest on such loans shall be covered into the Treasury as miscellaneous receipts. TITLE IV .-OCEAN MAIL SERVICE SCOPE OF TITLE SEC. 401. All mails of the United States carried on vessels between ports '(exclusive of ports in the Dominion of Canada other than ports in Nova Scotia) between which it is lawful under the navi- gation laws for a vessel not documented under the laws of the United States to carr y merch andise shall, if pra cticab le, be carried on ve ssels in respect of which a contract is made under this title. REQUIREMENTS OF POSTAL SERVICE SEC. 402. As soon as practicable after the enactment of this Act, and from time to time thereafter, it shall be the duty of the Post- master General to certify to the United States Shipping Board what ocean mail routes, in his opinion, should be established and/or Operated for the carrying of mails of the United States between ports (exclusive of ports in the Dominion of Canada other than ports in Nova Scotia) between which it is lawful under the navi- gation laws for a vesse l not docume nted u nder the la ws of the United States to carry merchandise, distributed so as equitably to serve the Atlantic, Mexican Gulf, and Pacific coast ports, the volume of mail then moving over such routes and the estimated volume thereof during the next five years, the times deemed by him advisable for the departure of the vessels carrying such mails, and other

�