Page:United States Statutes at Large Volume 48 Part 1.djvu/532

 506 73d CONGRESS. SESS. II. CHS. 96, 97. MARCH 27,1934 . March 27, 1934. S [ .2089. [Public, No 136.] [CHAPTER 96 .J AN ACT 1	 To amend the Code of Laws for the District of Columbia, approved March 3, 190 1, as ame nded (D.C . Code, title 5, eh. 3), relating to building and loan associations. Be it enacted by the Senate and House of Representatives of the District of Columbia United States o f America in Congress assembled, That the Code of of amendments. the District of Columbia (31 Stat . 1300 ; D .C . Code, title 5, ch . 3) is amend ed by addin g at the end of title 5, c hapter 3, t hereo f, the followin g new se ctions Bu ilding and l oan " associations may SEC. 55 . P ERSONAL PROPERTY'.-The board of directors of any pur - chase bonds of Home building association incorporated or linmcorporated, organized and O wner s' Loan Corpo • ration . existing under the laws of the Di stric t of Colum bia to do or now doing in the District of Columbia a building association business in their discretion, may purchase the bonds of the Home Owners ; .life, p. 128 . Loan Corporation created pursuant to the authority of the Home Owners ' Loa n Act of 1933, approved June 13, 1933 (and said asso- ciation is hereby permitted to carry said bonds as an asset at the par value of said bonds) or may subscribe and pay for shares of any Federal corporation created or authorized by law to lend money to building and loan associations . Exchange of secured "SEC. 56. Any bui ld ing association incorporated or unineorpo- obligations for, author- ized, rated, organized and existing under the laws of the District of Columbia, to do or now doing, in the District of Columbia, a building association business, is authorized and empowered to exchange mort- gages or deeds of trust or the notes or bonds secured thereby or other obligations and liens secured on real estate or any real estate which it may have or hold, for the bonds of the Home Owners' Loan Corpo- ration created pursuant to the authority of the Home Owners' Loan Act of 1933, approved June 13, 1933, and said association is hereby authorized to carry said bonds as an asset at the par value of said bonds ." Approved, March 27. 1934. [CHAPTER 97 .1 March 27, 1934 . AN ACT 	[9 .2 950 .1 To authorize steam railroads to electrify their lines within the District of Colum- [Public, No . 137.] bia, and for other purposes . Be it enacted by the Senate and House of Representatives of the District of Columbia . United States of America in Congress assembled, That steam-railroad Electrification of ex- isti ng team-railroad companies now operating within the District of Columbia are hereby lineS • authorized, after approval of their detailed plans and issuance of a per mit by the C ommi ssio ners of the Dist ric t of Col umbi a, to electrif y their lines wi thin the Distric t of Colu mbia and across the Anacostia and Potomac Rivers with an alternating current overhead meni leicr~' e0u'p- catenary or other type of electrification system, with all necessary transm issio n, si gnal a nd co mmunic ation cond uctor s and equip ment, poles, c onduits, undergr ound and overhea d constru ction, s ubstatio ns, and any o ther str uctu res nece ssar y in such electrification, the provisio ns of an y law or laws to the con trary not withstan ding. Submarine cables at SEC. 2. Submari ne cables may be used at dr awbridge openings, d rawbri dge op enings. provid ed pr eviou s appr oval shall have been obtained from the War Depa rtm ent.