Page:United States Statutes at Large Volume 62 Part 1.djvu/1241

 62 STAT.] 80TH CONG., 2D SESS.-CH. 786-JULY 1, 1948 [CHAPTER 786] JOINT RESOLUTION To continue until March 1, 1949, the authority of the United States Maritime Commission to make provision for certain ocean transportation service to, from, and within Alaska. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the joint resolution of March 7, 1947, entitled "Joint resolution to authorize the United States Maritime Commission to make provision for certain ocean transportation service to and from Alaska until July 1,1948, and for other purpose", is amended to read as follows: "That it is the intention of the Congress to assist in providing essential water transportation service for the Territory of Alaska pending the determination of a long-range policy with respect to such transportation. "SEC. 2 . (a) The United States Maritime Commission is authorized to enter into contracts, charters, and other arrangements deemed by it to be appropriate, with American citizens, deemed by the Commis- sion to be qualified, to supply ocean transportation service with American-flag vessels to, from, and within Alaska. Such contracts, charters, or arrangements may include provisions for making avail- able to such operators Government-owned vessels made available to the Commission for such purposes and vessels under the control or juris- diction of the Commission for operation on voyages commencing not later than March 1, 1949. Such provisions may include (1) charter hire at a nominal rate; (2) such marine insurance to be provided by the Commission, as the Commission may determine to be necessary or appropriate as to vessels made available by the Commission and other vessels operated in the Alaska service under contracts, charters, or arrangements with the Commission; (3) requirements that the operators shall operate such vessels to secure the most economical transportation adequate for the Alaska service; and (4) such other requirements, terms, and conditions as the Commission may deem appropriate. "(b) Each such contract, charter, or arrangement shall provide that, as of the end of each accounting period, the cumulative gross profit, before overhead expenses, from the operation of vessels there- under, as approved by the Commission, shall be allocated as follows and in the following order: "(1) To provide for the operator's proportionate share of the expenses of all operators of maintaining a survey of Alaska ocean transportation services and of the costs and methods of operation of operators in said services, in accordance with a program approved by the Commission; "(2) To allow compensation to the operator for working capital use of facilities other than operator-owned vessels, and overhead expenses, on such bases as the Commission may determine; and such bases may be fixed in terms of a percentage or percentages, deemed by the Commission to be reasonable, of vessel operating revenues; "(3) To allow the operator a return at the rate of 10 per centum per annum, before Federal income taxes, on the fair value of operator- owned vessels used in the Alaska service; "(4) Any profit remaining thereafter, at the conclusion of each accounting period, shall be held in a special account. At the end of the second and each succeeding accounting period, if any, such account shall be available for paying any then cumulative deficiency (covering the period from the commencement of operations here- under) with respect to any amounts which, if earned, would have 1211 July 1, 1948 [S. J. Res. 2191 [Public Law 866] U. 8 . Maritime Commission. Ocean transporta- tion for Alaska. 61 Stat. 10 . 46 U.S. C., Supp. I, § 866 note. Contract, etc., au- thority and provi- sions. Allocatlon of gross profit. Special account.

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