1927 for the reconditioning of vessels; (b) $11,134,250, including the salaries of employees of the Fleet Corporation assigned to the Shipping Board, of which $1,500,000 may be used for reconditioning and operating ships for carrying coal to foreign ports, together with the unexpended balance of the $1,000,000 authorized for this purpose for the fiscal year 1929, and $500,000 shall be available only for research and experimental development in ship and machinery design, construction, and operation; (c) all amounts received during the fiscal year ending June 30, 1930, other than the proceeds of sales of ships and surplus property; (d) so much of the total proceeds of sales of ships and surplus property received during the fiscal year 1930, but not exceeding $2,100,000, as is necessary to meet the expenses of liquidation, including the cost of maintaining the laid-up fleet and the salaries and expenses of the personnel engaged in liquidation: Provided, That no part of these sums, (a), (b), (c), and (d), shall be used for the payment of claims arising out of the construction and requisitioning of vessels; (e) all interest earned on the funds, excepting the construction loan fund, of the United States Shipping Board Merchant Fleet Corporation is to accrue to these funds and is made available for the purposes hereinbefore set forth subject to the limitations herein established.

That portion of the special claims appropriation, contained in the Independent Offices Appropriation Act for the fiscal year 1923, committed prior to July 1, 1923, and remaining unexpended on June 30, 1929, shall continue available until June 30, 1930, for the same purposes and under the same conditions.

To enable the United States Shipping Board Merchant Fleet Corporation to operate ships or lines of ships which have been or may be taken back from purchasers by reason of competition or other methods employed by foreign ship owners or operators, there is hereby reappropriated the unexpended balance of the appropriation of $10,000,000 made for similar purposes in the Independent Offices Appropriation Act for the fiscal year 1927: Provided, That no expenditure shall be made for the purposes of this paragraph from this sum without the prior approval of the President of the United States.

No part of the sums appropriated in this Act shall be used to pay the compensation of any attorney, regular or special, for the United States Shipping Board or the United States Shipping Board Merchant Fleet Corporation unless the contract of employment has been approved by the Attorney General of the United States.

No officer or employee of the United States Shipping Board or the United States Shipping Board Merchant Fleet Corporation shall be paid a salary or compensation at a rate per annum in excess of $10,000 except the following: One at not to exceed $18,000, three at not to exceed $15,000 each, and one at not to exceed $12,000.

No part of the funds of the United States Shipping Board Merchant Fleet Corporation shall be available for the rent of buildings in the District of Columbia during the fiscal year 1930 if suitable space is provided for said corporation by the Public Buildings

Total, United States Shipping Board, $11,494,000: Provided, That of the sums herein made available under the United States Shipping Board, not to exceed an aggregate of $300,000 shall be expended for compensation of regular attorneys employed on a yearly salary basis and for fees and expenses of attorneys employed in special cases. Approved, Feb. 20, 1929.

[H. H. 7998]

An Act To amend subsection (d) of section 11 of the Merchant Marine Act of June 5, 1920, as amended by section 301 of the Merchant Marine Act of May 22, 1928.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (d) of section 11 of the Merchant Marine Act of June 5, 1920, as amended by section 301 of the Merchant Marine Act of May 22, 1928 (United States Code, title 46, section 871; Forty-fifth Statutes at Large, part 1, page 691), is amended to read as follows:

66

(d) All such loans shall bear interest at rates as follows, payable not less frequently than annually: During any period in which the vessel is operated exclusively in coastwise trade, or is inactive, the rate of interest shall be as fixed by the board, but not less than 54 per centum per annum. During the period in which a vessel is being constructed, equipped, reconditioned, remodeled, or improved; and/or, during any period in which such a vessel is operated in foreign trade the rate shall be as fixed by the board, but provided however, that on all contracts hereinafter entered into, the interest rate shall be not less than 32 per centum per annum. The lowest rate of interest shall not be granted for the construction, equipment, reconditioning, remodeling or improvement of any vessel for the foreign trade, unless it is contracted that such vessel upon completion shall not be operated exclusively and under enrollment in the coastwise and/or intercoastal trade for more than three months in any calendar year; and, if such vessel shall be operated exclusively and under enrollment in such trades for more than three months in any calendar year, the board shall collect the difference between the low rate of interest charged and 54 per centum per annum during the period of construction, equipment, reconditioning, remodeling or improvement. The board may prescribe rules for determining the amount of interest payable under the provisions of this paragraph."

Approved, February 2, 1931.

(99)

[S. 2334]

AN ACT

To amend section 3 of the Rivers and Harbors Act, approved June 13, 1902, as amended and supplemented.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first paragraph of section 3 of the Act entitled "An Act making appropriations for the construction, repair, and preservation of certain public works on rivers and harbors, and for other purposes," approved June 13, 1902, as amended and supplemented, is amended by adding at the end thereof the following new sentence: "As used in this section the term 'commerce' shall include the use of waterways by seasonal passenger craft, yachts, house boats, fishing boats, motor boats, and other similar water craft, whether or not operated for hire."

Approved, February 10, 1932.

(100)

[S. 3908)

AN ACT

To amend the Act entitled "An Act to regulate navigation on the Great Lakes and their connecting and tributary waters," approved February 8, 1895.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first two paragraphs of rule 3 under the heading "Lights" in the first section of the Act entitled "An Act to regulate navigation on the Great Lakes and their connecting and tributary waters," approved February 8, 1895 (U. S. C., title 33, sec. 252), are amended to read as follows: "Rule 3. Except in the cases hereinafter expressly provided for, a steam vessel when under way shall carry:

"(a) On or in front of the foremast, or if a vessel without a foremast, then in the fore part of the vessel, at a height above the hull of not less than twenty feet, and if the beam of the vessel exceeds twenty feet, then at a height above the hull not less than such beam, so, however, that such height need not exceed forty feet, a bright white light so constructed as to show an unbroken light over an arc of the horizon of twenty points of the compass, so fixed as to throw the light ten points on each side of the vessel, namely, from right ahead to two points abaft the beam on either side, and of such character as to be visible at a distance of at least five miles: Provided, however, That such vessels built to navigate the New York State Barge Canal or other similar canals where the bridges prevent them from carrying the headlight at the height prescribed herein, shall carry such headlight not less than twenty feet above the hull." SEC. 2. This Act shall take effect April 15, 1932. Approved, May 9, 1932.