Page:United States Statutes at Large Volume 54 Part 1.djvu/989

 54 STAT.] 76TH CONG. , 3D SESS.-CH. 722-SEPT. 18, 1940 of the Interior shall find have been heretofore sold by any such carrier to an innocent purchaser for value or as preventing the issuance of patents to lands listed or selected by such carrier, which listing or selection has heretofore been fully and finally approved by the Secre- tary of the Interior to the extent that the issuance of such patents may be authorized by law. DEDUCTION OF OVERPAYMENTS SEC. 322. Payment for transportation of the United States mail and of persons or property for or on behalf of the United States by any common carrier subject to the Interstate Commerce Act, as amended, or the Civil Aeronautics Act of 1938, shall be made upon presentation of bills therefor, prior to audit or settlement by the General Accounting Office, but the right is hereby reserved to the United States Govern- ment to deduct the amount of any overpayment to any such carrier from any amount subsequently found to be due such carrier. PART III-AMENDMENTS TO RECONSTRUCrTIN FINANCE CORPORATION ACT SEC. 331. (a) Section 5 of the Reconstruction Finance Corporation Act, as amended, is amended by amending that portion of the third sentence, of the third paragraph, which precedes the last proviso in such sentence to read as follows: "Within the foregoing limitations of this section, the Corporation, notwithstanding any limitation of law as to maturity, with the approval of the Interstate Commerce Commission, including approval of the price to be paid, may, to aid in the financing reorganization, consolidation, maintenance, or con- struction thereof, purchase for itself, or for account of a railroad obli- gated thereon, the obligations of railroads engaged in interstate commerce, or of receivers or trustees thereof, including equipment trust certificates, or guarantee the payment of the principal of, and/or interest on, such obligations, including equipment trust certificates, or, when, in the opinion of the Corporation, funds are not available on reasonable terms through private channels, make loans, upon full and adequate security, to such railroads or to receivers or trustees thereof for the purposes aforesaid: Provided, That in the case of loans to or the purchase or guarantee of obligations, including equipment trust certificates, of railroads not in receivership or trusteeslip, the Inter- state Commerce Commission shall, in connection with its approval thereof, also certify that such railroad, on the basis of present and prospective earnings, may reasonably be expected to meet its fixed charges, without a reduction thereof through judicial reorganization, except that such certificate shall not be required in case of such loans, purchases, or guaranties made for the maintenance of, or purchase of equipment for, such railroads: Providedfurther, That for the purpose of determining the general funds of the Corporation available for further loans or commitments, such guaranties shall, to the extent of the principal amount of the obligations guaranteed, be interpreted as loans or commitments for loans: And provided further, That the total amount of loans and commitments to railroads, receivers, and trustees, and purchases and guaranties of obligations of railroads, under this paragraph, as amended, shall not exceed at any one time $500,000,000, in addition to loans and commitments made prior to January 31, 1935, and renewals of loans and commitments so made:". (b) Such section 5, as amended, is further amended by adding at the end of the third paragraph thereof the following sentence: "The title of any owner, whether as trustee or otherwise, to any property leased or conditionally sold to a railroad, or a receiver or trustee 955 Deduction of over- payments. 24 Stat. 379. 49U.S.C.,ch.1; Supp. V, ch. 1. 52 Stat. 973. 49 U. S, C., Supp. V, ch. 9. Purchase of railroad obligations. 47 Stat. 6. 15 U. S. C. §605; Supp. V, § 605. Loans. Provisos. Purchase or gularan- tee of obligatlons. Guaranties to be in- terpreted as loans, etc. Maximum amount. Title to property leased, etc., to railroad financed by R. F. C.

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