Page:United States Statutes at Large Volume 63 Part 1.djvu/1023

 63 STAT.] 81ST CONG, 1ST SESS.-CHS. 785, 786-OCT. 29, 1949 (f) of section 18 of the Act entitled "An Act to reclassify the salaries of postmasters, officers, and employees of the Postal Service; to estab- lish uniform procedures for computing compensation; and for other purposes", approved July 6, 1945, as amended, is amended to read as follows: "(f) Each temporary employee in the mail equipment shops paid on an annual basis shall be paid at the rate of pay of the lowest grade provided for a regular employee in the same type of position in which such temporary employee is employed, and shall, at the beginning of the quarter following the completion of one year's satisfactory service in each pay status, be advanced successively to the rates of pay of the next higher grade of such position: Provided, That no temporary employee shall be paid at a rate higher than that provided herein for the highest automatic grade of the position in which he is employed: Provided further, That when a temporary employee is appointed to a regular position in the mail equipment shops, the employee shall be assigned to a salary grade corresponding to his salary as a temporary employee at the time of such appointment. Any fractional part of a year's temporary service accumulated since the last compensation increase as a temporary shall be included with the regular service of a regular employee in determining eligibility for promotion to the next higher grade following appointment to a regular position." SEa. 2. Any period of continuous satisfactory service as a tempo- rary employee in the mail equipment shops performed by any such temporary employee prior to the effective date of this Act shall be creditable for a promotion to the rate of pay of the second grade provided for a regular employee in the same type of position in which such temporary employee is employed. SEC. 3. This Act shall become effective at the beginning of the quarter following the date of enactment. Approved October 29, 1949. [CHAPTER 786] AN ACT To amend the Federal Farm Loan Act, as amended, to authorize loans through national farm-loan associations in Puerto Rico; to modify the limitations on Federal land-bank loans to any one borrower; to repeal provisions for subscrip- tions to paid-in surplus of Federal land banks and cover the entire amount appropriated therefor into the surplus fund of the Treasury; to effect certain economies in reporting and recording payments on mortgages deposited with the registrars as bond collateral, and canceling the mortgage and satisfying and discharging the lien of record; and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 4 of the Federal Farm Loan Act, as amended (title 12, U. S. C. 672), is hereby further amended by adding a new paragraph to said section immediately following the second paragraph thereof to read as follows: "Notwithstanding the provisions of this section, loans may be made in Puerto Rico and Alaska through national farm-loan associations, and the interest rate applicable to such loans shall be as provided in section 12 of this Act. Said associations shall be organized pursuant to section 7 of this Act, except that, upon the recommendation of the Federal land bank concerned, any such national farm-loan association may be organized by ten or more borrowers who have obtained direct loans through a branch bank which aggregate not less than $20,000, and who reside in a locality which may be covered and served con- veniently by the charter of a national farm-loan association and any 985 59 Stat. 468. 39U.S. . 58 8(0. Mailequipment shops. Promotion of tem- porary employee. Limitation. Appointmenttoreg- nlar position. Oreditable service. Effective dater October 29, 194( [H. R . 3699] [Public Law 4331 Federal Farm Loan Act, amendments. 89 Stat. 362. Loans In Puerto Rico and Alaska. 39 Stat. 370. 12U.S.C.i77, 772. Pos, p. 986. 39 Stat. 365. 12U. .C.C. nl7- 73. Post, p. 986.

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