Page:United States Statutes at Large Volume 56 Part 1.djvu/303

 56 STAT.] 77TH GONG. , 2D SESS.-CHS. 300, 301 -MAY 9, 11, 1942 actually used by the city of Murfreesboro for the construction and maintenance of a water-pumping station, and when no longer so required and used, all interests herein authorized to be conveyed in said lands shall cease and determine. Approved, May 9, 1942. [CHAPTER 301] AN ACT For the relief of dealers in certain articles or commodities rationed under authority of the United States. Be it enacted by the Senate and House of Representatives of the UnitedStates of America in Congress assembled, That the Reconstruc- tion Finance Corporation Act, as amended, is amended by inserting after section 5g thereof the following new section: "SEC. 5h. (a) In order to prevent and relieve distress among dealers in articles or commodities which are rationed in connection with the war effort, the Reconstruction Finance Corporation, acting directly or through any of its subsidiary corporations, is authorized to purchase or make loans upon the security of any article or commodity the sale or distribution of which is rationed under authority of the United States, subject to the following terms and conditions: "(1) Such purchases and loans shall be made only in the case of articles or commodities which have been rationed in a manner and under circumstances which have resulted or are likely to result in a substantial number of dealers being unable, in the ordinary course of trade or business, to sell within a period of six months from the beginning of such rationing the stocks of such articles or commodities which they have in stock. "(2) Such purchases and loans shall be made only in the case of, or for the purpose of aiding or assisting, dealers a substantial part of whose business consists of dealing in and servicing rationed articles or commodities of one or more kinds. "(3) Such purchases and loans shall be made on a basis which will enable any such dealer to secure for any such article or commodity which he has on hand an amount not less than its cost to hinm (to the extent that such cost is a reasonable cost inculrred in the ordinary course of trade or busiless), plus a reasollbl)le allowanice for tra:ls- portation costs, storage, handling, servicing, inslranlce, carrying charges, and other expenses incurred by the dealer in connection with such article or commodity. "(4) Such purchases and loans shall be made on a basis which will enable any such dealer to secure for any such article or commodity that has been in the stock of one or more dealers for an aggregate of eighteen months or longer after the beginning of the rationing an amount not less than the fair retail price as fixed by the Price Admin- istrator for such article or commodity wherever located. "(5) Such purchases may be made from and such loans made to such dealers or credit agencies furnishing credit for such dealers, and may be made upon the request of any dealer having title to the rationed article or commodity or having the right to acquire title thereto upon the discharge of his credit obligations with respect thereto. "(b) The Reconstruction Finance Corporation may prescribe such additional terms and conditions with respect to such purchases and loans as it deems to be necessary and consistent with the purposes of this section: Provided, That the Reconstruction Finance Corporation shall not be required to purchase or make a loan upon the security May 11, 1942 [S. 2315] [Public Law 549] Reconstruetion Fi- nance Corporation Act, amendment. Ante, p. 175. Purchases from and loans to dealers in rationed articles. Terms and condi- tions. Inability to sell articles in stock. Purpose of such purchases, etc. Basis of purchases and loans. Articles in stock 18 months or longer. Transactions with dealers or credit agen- cies. Additional terms and conditions. Provisos. Articles in nonsal- able condition. 275

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