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(H. J. Res. 151.) Joint Resolution Extending the time for the final report of the joint congressional committee created by the Agricultural Credits Act of 1923.

Resolved by the Senate and House of Representatives of tho United States of America in Congress assembled, That section 506 of the Agricultural Credits Act of 1923 is amended by striking out “ January 31 ” and inserting in lieu thereof “ June 30, Approved, January 31, 1924.

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(PUBLIC—No. 35—68TH CONGRESS.)

(H. R. 4121.) An Act To extend the provisions of certain laws to the Territory of Hawall.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That beginning with the fiscal year ending June 30, 1925, the Territory of Hawaii shall be entitled to share in appropriations now or which may hereafter become available for apportionment under the Act entitled “An Act to provide that the United States shall aid the States in the construction of rural post roads, and for other purposes," approved July 11, 1916, known as the Federal Highway Act, and any Act amendatory thereof or supplementary thereto, upon the same terms and conditions as any of the several States, and such Territory shall be included in the calculations to determine the basis of apportionment of such funds: Provided, That in approving road projects in such Territory to receive Federal aid, the Secretary of Agriculture shall give preference to such projects as will expedite the completion of an adequate system of highways for the national defense or which will connect seaports with units of the national parks.

Sec. 2. The provisions of the Federal Farm Loan Act, and any Act amendatory thereof or supplementary thereto, are extended to the Territory of Hawaii. The Federal Farm Loan Board shall include the Territory in a Federal land bank district, and such Federal land bank as the board may designate is authorized to establish branch banks in the Territory.

Sec. 3. The Territory of Hawaii shall be entitled to share in the benefits of the Act entitled "An Act for the promotion of the wel. fare and hygiene of maternity and infancy, and for other purposes," approved November 23, 1921, and any Act amendatory thereof or supplementary thereto, upon the same terms and conditions as any of the several States. For the fiscal year ending June 30, 1925, there is authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, the sum of $13,000, to be available for apportionment under such Act to the Territory, and annually thereafter such sum as would be apportioned to the Territory if such Act had originally included the Territory.

Sec. 4. The Territory of Hawaii shall be entitled to share in the benefits of the Act entitled "An Act to provide for the promotion of vocational education; to provide for cooperation with the States in the promotion of such education in agriculture and the trades and industries; to provide for cooperation with the States in the preparation of teachers of vocational subjects; and to appropriate money and regulate its expenditure," approved February 23, 1917, and any Act amendatory thereof or supplementary thereto, upon the same terms and conditions as any of the several States. There is authorized to be appropriated, out of any money in the Treasury

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not otherwise appropriated, for the fiscal year ending June 30, 1925, and annually thereafter, the sum of $30,000, to be available for allotment under such Act to the Territory.

Sec. 5. The Territory of Hawaii shall be entitled to share in the benefits of the Act entitled "An Act to provide for the promotion of vocational rehabilitation of persons disabled in industry or other. wise and their return to civil employment," approved June 2, 1920, and any Act amendatory thereof or supplementary thereto, upon the same terms and conditions as any of the several States. There is authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending June 30, 1925, and annually thereafter, the sum of $5,000, to be available for allotment under such Act to the Territory.

Approved, March 10, 1924.

(PUBLIO–No. 599-68TH CONGRESS)

(S. 3632) An Act To amend the Federal Farm Loan Act and the Agricultural Credits Act of 1923

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Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph «а " of section 206 of the Agricultural Credits Act of 1923, as amended, be amended to read as follows:

Sec. 206. (a) That the Federal Farm Loan Board shall equitably apportion the joint salaries and expenses incurred in behalf of the Federal land banks, joint-stock land banks, and Federal intermediate credit banks, and shall assess against each Federal intermediate credit bank its proportionate share of the salaries and expenses of the Federal Farm Loan Bureau made necessary in connection with the operation of this provision.”

SEC. 2. That paragraph 1 of section 204 (a) of the Agricultural Credits Act of 1923 be amended by adding at the end thereof the following: Provided, That the Federal Farm Loan Board may classify loans and debentures according to maturity, and if debentures of different classes sell at a different rate the Federal intermediate credit banks may differentiate in rates on like classes of loans in the same ratio."

Sec. 3. The eighth paragraph of section 3 of the Federal Farm Loan Act, as amended, be further amended to read as follows:

“The salaries and expenses of the Federal Farm Loan Board, its officers and employees, farm loan registrars, deputy registrars, examiners, and reviewing appraisers authorized under this Act, or any subsequent amendments thereof, shall be paid by the Federal land banks, joint-stock land banks, and the Federal intermediate credit banks, as follows:"

“ The Federal Farm Loan Board shall, prior to the first days of January and July of each year, estimate the expenses and salaries of the Federal Farm Loan Board, its officers and employees, farm loan registrars and deputy registrars, examiners, and reviewing appraisers, and apportion the same among the Federal land banks, joint-stock land banks, and the Federal intermediate credit banks on such equitable basis as the Federal Farm Loan Board shall determine, giving due consideration to time and expense necessarily incident to the supervision of the operation of each type of bank, and make an assessment upon each of such banks pursuant to such apportionment, payable on the 1st days of January and July next ensuing. The funds collected pursuant to such assessments shall be deposited with the Treasurer of the United States under the miscellaneous receipts title 'Assessments on Federal and joint-stock land banks and Federal intermediate credit banks, salaries and expenses Federal Farm Loan Board,' to be disbursed in payment of such salaries and expenses on appropriations duly made by Congress: Provided, That the present legal status as to assessments against Federal intermediate credit banks shall continue until June 30, 1926, without appropria tions by Congress. If

any deficiency shall occur in such fund during the half-year period for which it was estimated, the Federal Farm Loan Board shall have authority to make immediate assessment covering such deficiency against the Federal land banks, joint-stock land banks, and Federal intermediate credit banks upon the same basis as the original assessment. If at the end of the six months' period there shall remain a surplus in such fund, it shall be deducted from the estimated expenses of the next six months' period when assessment is made for such period.

" Federal land bank appraisers, and appraisers or inspectors of Federal intermediate credit banks, shall receive such compensation as the Federal Farm Loan Board shall fix and shall be paid by the Federal land banks, joint-stock land banks, and the Federal intermediate credit banks they serve, in such proportion and in such manner as the Federal Farm Loan Board shall order."

Seo. 4. That the ninth paragraph of section 3 of the Federal Farm Loan Act be amended by adding after the word "thereof” in the thirteenth line of said paragraph, the following: "and may be classified without regard to the Classification Act of 1923," so that the paragraph as amended shall read:

“The Federal Farm Loan Board shall be authorized and empowered to employ such attorneys, experts, assistants, clerks, laborers, and other employees as it may deem necessary to conduct the business of said board. All salaries and fees authorized in this section and not otherwise provided for shall be fixed in advance by said board and shall be paid in the same manner as the salaries of the Federal Farm Loan Board. All such attorneys, experts, assistants, clerks, laborers, and other employees, and all registrars, examiners, and appraisers shall be appointed without regard to the provisions of the Act of January 16, 1883 (22 Stat., 403), and amendments thereto, or any rule or regulation made in pursuance thereof and may be classified without regard to the Classification Act of 1923: Provided, That nothing herein shall prevent the President from placing said employees in the classified service.”

Sec. 5. The last two paragraphs of section 16 of the Federal Farm Loan Act as amended be stricken out and the following inserted in lieu thereof:

“For the purpose of assisting in any such liquidation authorized as in the preceding paragraph provided, any Federal land bank or joint-stock land bank may, with the approval of the Federal Farm Loan Board, acquire the assets and assume the liabilities of any joint-stock land bank, and in such transaction any Federal land bank may waive the provisions of this Act requiring such bank to acquire its loans only through national farm loan associations or agents, and those relating to status of borrower, purposes of loan, and also the limitation as to the amount of individual loans. Nó Federal land bank shall assume the obligations of any joint-stock land bank in such manner as to make its outstanding obligations more than twenty times its capital stock except by creation of a special reserve equal to one-twentieth of the amount of such additional obligations assumed. No joint-stock land bank shall as

. sume the obligations of any other joint-stock land bank in such

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