Page:United States Statutes at Large Volume 73.djvu/310

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PUBLIC LAW 86-126-JULY 31, 1959

[73 S T A T

States directly to individual Indians, as compensation for the loss of fishing rights due to the construction, operation, and maintenance of the Dalles Dam, Columbia Eiver, Washington and Oregon, shall not be subject to Federal or State income tax. Approved July 31, 1959. Public Law 86-126 July 31, 1959 [S. 1^5]

Alask T r a n spoliation on Can adian v e s sels.

AN ACT To provide transportation on Canadian vessels between ports in southeastern Alaska, and between Hyder, Alaska, and other points in southeastern Alaska, and between Hyder, Alaska, and other points in the United States outside Alaska, either directly or via a foreign port, or for any part of the transportation. Be it enacted by the Senate and House of Representatives of the United States of Amsrica in Congress assembled, That, until June 30, 1960, notwithstanding the provisions of law of the United States restricting to vessels of the United States the transportation of passengers and merchandise directly or indirectly f roiti any port in the United States to another port of the United States, passengers may be transported on Canadian vessels between ports in southeastern Alaska, and passengers and merchandise may be transported on Canadian vessels between Hyder, Alaska, and other points in southeastern Alaska, and between Hyder, Alaska, and other points in the United States outside Alaska, either directly or via a foreign port, or for any part of the transportation, unless the Secretary of Commerce determines that United States-flag service is available to provide such transportation. Approved July 31, 1959.

Public Law 86-127 July 31, 1959 [S. 2148]

Vessels. Escrow fund.

52 Stat. 969. Insurance. Restriction.

Ante, p. 269.

AN ACT To amend title XI of the Merchant Marine Act, 1936, as amended, to provide for the deposit of funds in escrow with the Secretary of Commerce, to provide for the payment of insurance, in part, on the basis of such deposits, and for other purposes. Be it enacted by the Seriate and House of Representatives of the United States of America in Congress assembled, That title X I of the Merchant Marine Act, 1936, as amended (46 U.S.C. 1271-1279), is amended as follows: (1) By revising the proviso in section 1101(f) to read as follows: "That in no event shall the Secretary of Commerce pay as insurance under this title in respect of the unpaid balance of the principal of a mortgage or loan an amount in excess of 75 per centum, or 87^^ per centum, as the case may be, of the amount paid by or for the account of the mortgagor or borrower for the construction, reconstruction, or reconditioning (including designing, inspecting, outfitting, and equipping) of such vessel, except that if the mortgagor or borrower creates an escrow fund as authorized by section 1111 of this Act, the amount that shall be paid as insurance is the interest on and the unpaid balance of the principal of such loan or mortgage." (2) By inserting after section 1110 a new section 1111 to read "as follows: " SEC. 1111. (a) CREATIOX OF THE ESCROW F U N D. — I n connection with the insurance of loans and mortgages, which are financed by sale

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