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PUBLIC LAW 312-MAR. 20, 1954

Public Law 312 March 20, 1954 [S. 2714]

Commodity Credit Corporation. 15 USC 7 1 3 a - 4. 52 Stat. 107. 15 USC 7 1 3 a - l.

15 USC 714b.

10 USC 156a.

AN ACT To increase the borrowing power of Commodity Credit Corporation.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, 'J'hat (a) section 4 of the Act approved March 8, 1938 (52 Stat. 108), as amended, is amended by striking out "$6,750,000,000" and inserting in lieu thereof "$8,500,000,000". (b)(1) The first section of such Act is amended by striking out the following: ", or insofar as practicable, the average market price of such assets during the last month of the fiscal year covered by the appraisal, whichever is the lower,". (2) Such section is further amended by adding at the end thereof the following: "Such capital impairment shall be restored with appropriated funds as provided herein rather than through the cancellation of notes." SEC. 2. Section 4(i) of the Commodity Credit Corporation Charter Act (62 Stat. 1070), as amended, is amended by striking out "$6,750,000,000", and ijiserting in lieu thereof "$8,500,000,000". Approved March 20, 1954. CHAPTER 103

AN ACT To amend the Army-Navy Medical Services Corps Act of 1947 relating to the per centum of colonels in the Medical Service Corps, Kegular Army.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the ArmyNavy Medical Services Corps Act of 1947 (61 Stat. 734), as amended, is hereby amended by deleting the proviso to section 101 and substituting a period for the colon immediately preceding such proviso. Approved March 23, 1954. Public Law 314

March 23, 1954 [H. R. 4559]

48 Stat. 1100. 47 USC 501.

S T AT<

CHAPTER 102

Public Law 313 March 23. 1954 [H. R. 5509]

[68

CHAPTER 104

AN ACT To amend section 501 of the Communications Act of 1934, so that any offeiise punishable thereunder, except a second or subsequent offense, shall constitute a misdemeanor rather than a felony.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 501 of the Communications Act of 1934, as amended, is amended to read as follows: "GENERAL PENALTY

"SEC. 501. Any person who willfully and knowingly does or causes or suffers to be done any act, matter, or thing, in this Act prohibited or declared to be unlawful, or who willfully and knowingly omits or fails to do any act, matter, or thing in this Act required to be done, or willfully and knowingly causes or suffers such omission or failure, shall, upon conviction thereof, be punished for such offense, for which no penalty (other than a forfeiture) is provided in this Act, by a fine of not more than $10,000 or by imprisonment for a term not

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