Page:United States Statutes at Large Volume 71.djvu/43

 71 S T A T. ]

PUBLIC LAW 85-10-MAR. 27, 1957

than Members of Congress, which will occur by the expiration of the term of Doctor Arthur H. Compton, of St. Louis, Missouri, on September 20, 1956, be filled by the reappointment of the present incumbent for the statutory term of six years. Approved March 14, 1957, Public Law 85-9 JOINT RESOLUTION

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Providing for the filling of a vacancy in the Board of Regents of the Smithsonian [H. J. Re«. 202] Institution, of the class other than Members of Congress.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the vacancy in the Board of Regents of the Smithsonian Institution, of the class other than Members of Congress, be filled by the appointment of John Nicholas Brown, a citizen of Rhode Island, for the statutory term of six years, to succeed Evereete Lee DeGolyer, deceased. Approved March 14, 1957.

Smithsonian In> stitution.

Public Law 85-lOi JOINT RESOLUTION To provide interim assistance, through the Federal National Mortgage Association, in relieving the shortage of funds for home loans, and for other purposes.

March 27, 1957 [H. J. Res. 209J

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 303(d) FN^iA^iorrowing of the National Housing Act is amended by adding at the end thereof authority, 68 Stat. 614. the following new sentence: "In addition to the preferred stock pro- 12 USC 1718. vided for in the first sentence of this subsection, the Association is authorized and directed to issue and deliver to the Secretary of the Treasury, and the Secretary of the Treasury is authorized and directed to accept, preferred stock of the Association having an aggregate par value equal to $50,000,000." (b) Section 30.3 (e) of such Act is amended (1) by striking out "pursuant to subsection (d) " and inserting in lieu thereof "pursuant to the first sentence of subsection (d) ", and (2) by adding at the end thereof the following new sentence: "The preferred stock of the Association delivered to the Secretary of the Treasury pursuant to the second sentence of subsection (d) of this section shall be in exchange for a note or notes of the Association, aggregating $50,000,000 in principal amount (and upon which the accrued interest shall have been paid through the date of delivery), held by the Secretary of the Treasury pursuant to the authority contained in section 304(c)." (c) Section 304(c) of such Act is amended by striking out all of 12 USC 1719. the second sentence after "or (2) " and inserting m lieu thereof the following: "such purchase would increase the aggregate principal amount of his then outstanding holdings of such obligations under this subsection to an am(^unt greater than $1,350,000,000,-' S36. SEC. 2. Section 305(e) of the National Housing Act is amended 69 Stat. 1.720. 12 USC (1) by striking out "$50,000,000"' and inserting in lieu thereof "$100,000,000", and (2) by striking out "$5,000,000" and inserting in lieu thereof "$10,000,000".

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