Full text of An Act to Amend Sections 12A and 19 of the Federal Reserve Act, as Amended

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56 S
STAT.]
TAT.]

647

77TH CONG.,
SESS.-CHS. 485, 486, 488-JULY
1942
CONG ., 2D SESS.—CHS.
488—JULY 3, 7, 1942

SEC.
SEC. 2. As regards
regards medical
medical and sanitary matters and all other
other
work
their professional duties, the members of
work within
within the line of their
the
Navy Nurse
authority in and
Corps shall have
have authority
and about
about naval
naval
the Navy
Nurse Corps
hospitals
after the
the commissioned
commissioned
hospitals and other
other medical
medical activities next after
officers
The
Medical Corps
Corps and
and Dental Corps
Corps of the Navy. The
officers of the Medical
Secretary of the Navy shall make the necessary
Secretary
necessary regulations
regulations prescribprescribconferred by such relative
relative rank.
ing the rights and privileges conferred
Secretary of the Navy shall fix the money value of
SEc.
SEC. 3. The Secretary
Nurse Corps
required
Corps are required
which members of the Navy Nurse
the uniforms which
Navy: Provided,
Provided, That
That
to have upon their first appointment
appointment in the Navy:
he
may authorize
issued in kind
to be
be issued
kind or, in lieu
he may
authorize such
such uniforms
uniforms to
thereof,
payment in cash of the money
money value fixed in accordance
thereof, that
that payment
foregoing be made
appointed, for the purmembers so appointed,
made to members
with the foregoing
uniforms;
such uniforms;
chase of such
SEc. 4.
4. In
time of
when the
Secretary of
of the
the Navy
Navy shall
the Secretary
of war or when
SEC.
In time
direct
the wearing
of uniforms
times, he
he may
may fix
fix the money
money
at all
all times,
uniforms at
direct the
wearing of
value
outdoor uniforms
uniforms which
which may be issued in kind
kind
value of additional
additional outdoor
to all
members of the
Nurse Corps, or authorize
authorize payment in
the Navy
Navy Nurse
to
all members
cash
in lieu
thereof for
the purchase
outdoor uniforms
uniforms as
of such
such outdoor
purchase of
for the
lieu thereof
cash in
may
be prescribed
prescribed by the United States
Navy Uniform Regulations:
Regulations:
States Navy
may be
Provided,
That but
uniform outfit may
to
may be
be furnished
furnished to
complete uniform
but one
one complete
Provided,That
a
Nurse Corps.
a member
member of
of the
the Navy Nurse
Approved, July 3, 1942.
[CHAPTER 486]
486]
[CHAPTER

ACT
AN ACT

To
suspend the
requirement for
for the
certain
annual labor on certain
performance of annual
the performance
the requirement
To suspend
mining claims.

and House
House of Representatives
it enacted
Atenate and
Representatives of the
by the Senate
enacted by
Be it
United States
in Congress
Congress assembled,
That the
provision
the provision
assembled, That
of America
America in
States of
United
of
2324 of
the Revised
Revised Statutes
Statutes of
of the
the United
which
United States which
of the
section 2324
of section
requires
that on
each mining
mining claim
located after
May 10,
1872, and
10, 1872,
after May
claim located
on each
requires that
$100 worth of
until
patent has been issued therefor, not less than $100
a patent
until a
labor shall
shall be
be performed
performed or improvements
improvements made
made during each year,
labor
shall be
be suspended
all valid
mining claims
in the
the United States,
claims in
valid mining
as to
to all
suspended as
shall
situated within
Alaska, which are
including
Territory of Alaska,
are situated
within the
the Territory
including the
exterior limits
any area
Executive order
for purpurorder for
by Executive
withdrawn by
area withdrawn
of any
limits of
exterior
poses of national defense,
suspension shall remain in force
defense, and such suspension
poses
and
until the
end of
the assessment
assessment year
during which
the
which the
year during
of the
the end
effect until
and effect
order
vacated by
the President
President or
or by
Act of
Conof Conby Act
by the
is vacated
withdrawal is
of withdrawal
order of
gress.
Where it
it is
is found
to utilize
surface of valid
utilize the surface
necessary to
found necessary
gress. Where
mining
claims for
defense, the
the record
holders
record holders
of national
national defense,
purposes of
for purposes
mining claims
thereof
to enter
enter into
into agreements
agreements providing
providing for
for such
such
authorized to
are authorized
thereof are
use
with any
or Federal
Federal agency exercising
exercising
department or
executive department
any executive
use with
control or
or jurisdiction
land.
jurisdiction over the land.
control
Approved, July
3, 1942.
1942.
July 3,
Approved,
[CHAPTER
488]
[CHAPTER 488]

AN ACT
AN

Authority.
Authority.

Rights and
and privipriviRights
leges.
leges.

Money value
of uniuniMoney
value of
forms.
forms.
Proviso.
Proviso.
Issue; cash
cash payment
payment
Issue;
in lieu.
in
lieu.

Additional
outdoor
Additional outdoor
uniforms.
uniforms.

Proviso.
Proviso.
Limitation.
Limitation.

July
1942
July 3,
3, 1942
[H. R.
R. 6295]
6295]
[H.
[Public Law
Law 655]
[Public
655]

Mining claims.
claims.
Mining
Suspension of
of ananSuspension
nual labor
labor requirerequirenual
ments.
ments.
30 U.S.
U. S. C.
C. 28.
28.
30
Ante,
p. 271.
271.
Ante, p.
Alaska included.
included.
Alaska

Duration.
ion.
D)urat

Use of
of surface.
surface.
Use

To
amend sections
the Federal
as amended.
amended.
Reserve Act, as
Federal Reserve
of the
19 of
and 19
12A and
sections 12A
To amend

July 7,
7, 1942
1942
July
[S. 25651
2565]
IS.
[Public Law
Law 6561
6561
[Public

Be it
it enacted
by the
Senate and
and House
of Representatives
Representatives of
the
of the
House of
the Senate
enacted by
Be
United States
of America
America in
Congress assembled,
That subsection
subsection (a)
(a)
assembled, That
in Congress
States of
United
of
section 12A
12A of
of the
(U. S.
S. C.,
C.,
amended (U.
as amended
Act, as
Reserve Act,
Federal Reserve
the Federal
of section
title
striking out
and third
third
second and
the second
out the
by striking
is amended
amended by
sec. 263),
263), is
12, sec.
title 12,
sentences
thereof and
and substituting
substituting the
"Such representarepresentafollowing: "Such
the following:
sentences thereof
tives
shall be
be presidents
presidents or
or first
first vice
vice presidents
presidents of
of Federal
Federal Reserve
Reserve
tives shall

Federal
Federal Reserve
Reserve
Act, amendments.
amendments.
Act,
49 Stat.
Stat. 705.
49
705.
Federal
Open MarMarFederal Open
ket
Committee, elecelecket Committee.
tion of
of representarepresentation
tives.
tives.

648
648

PUBLIC
PUBLIC LAWS-CHS.
LAWS CHS. 488, 489-JULY
489—JULY 7, 1942

[56 STAT.
STAT.

banks and, beginning
beginning with
with the
the election
the term
term commencing
commencing
election for
for the
March 1,
be elected
elected annually
as follows:
One by
by the
board
1, 1943, shall
shall be
annually as
follows: One
the board
of directors of the Federal
Federal Reserve
Reserve Bank
Bank of
of New
New York,
York, one
one by
by the
the
boards of directors of the
Federal Reserve
Banks of
of Boston,
Boston, PhilaPhilathe Federal
Reserve Banks
delphia, and Richmond,
Richmond, one
boards of
of directors
directors of
of the
the Federal
Federal
one by the
the boards
Cleveland and Chicago,
Reserve Banks of Cleveland
Chicago, one
the boards
boards of
direcone by
by the
of directors of the Federal
Federal Reserve
Reserve Banks
Banks of Atlanta,
Atlanta, Dallas,
and St.
Dallas, and
St. Louis,
Louis,
and one by the boards of directors
the Federal
Federal Reserve
Banks of
of
directors of the
Reserve Banks
Minneapolis,
Minneapolis, Kansas
and San
San Francisco.
Francisco. In
In such
elections each
Kansas City,
City, and
such
elections
each
Regulations.
Regulations.
board
of directors
board of
directors shall have
have one vote;
vote; and the
of such
electhe details of
such elections may be governed
governed by regulations
prescribed by
by the
the committee,
committee,
regulations prescribed
Alternates.
which may
may be
be amended
amended from
to time.
time. An
An alternate
which
from time
time to
alternate to
serve
to serve
absence of each
in the absence
each such representative
representative shall likewise
likewise be
be a
apresident
president
or first vice president
president of a
a Federal Reserve bank
shall be
be elected
elected
bank and
and shall
annually
annually in
same manner."
manner."
in the
the same
SEC.
SEC. 2. The sixth paragraph
paragraph of section
section 19
of the
the Federal
Reserve
19 of
Federal Reserve
49 Stat. 706.
49Stat.
706.
Act,
as amended
amended (U. S. C., title 12, sec.
sec. 462b),
Act, as
462b), is
amended to
to read
read
is amended
as follows:
follows:
Reserve requireReserve
require"Notwithstanding the other provisions
"Notwithstanding
provisions of
of this
this section,
section, the
of
the Board
Board of
ments
ments of member
member,
modification.
banks, modification.
Governors of the Federal
Federal Reserve
Reserve System,
the affirmative
affirmative vote
vote
System, upon
upon the
of not less than four of its members,
members, in
in order
order to
to prevent
prevent injurious
injurious
credit expansion or contraction,
contraction, may
regulation change
change the
the requirerequiremay by
by regulation
ments as to reserves
maintained against demand
reserves to be maintained
demand or
or time
time deposits
deposits
or both (1)
(1) by member
member banks in
reserve cities
or (2)
by
in central
central reserve
cities or
(2) by
member
(3) by member
member banks in reserve
reserve cities or (3)
member banks
banks not
not in
in reserve
reserve
Limitation.
Limitation.
or
central reserve
reserve cities
cities or (4)
(4) by all member
or central
member banks; but the amount
amount
of the reserves
reserves required to be maintained
such member
member bank
bank
maintained by
by any
any such
as a
a result of any such change shall not be less
than the
the amount
amount of
of
less than
the reserves
required by law to be maintained
reserves required
maintained by
such bank
bank on
on the
the
by such
date of enactment
enactment of the Banking
Banking Act
of 1935
1935 nor
nor more
than twice
twice
Act of
more than
such amount."
amount."
* SEc.
paragraph of section
SEc. 3. The ninth paragraph
section 19 of the Federal
Federal Reserve
Reserve
41) Stat. 239.
229.
40Stat.
Act, as
464), is
Act,
as amended
amended (U.
(U. S. C., title 12, sec. 464),
is amended
amended by
by striking
striking
out the proviso thereof, so that the paragraph
paragraph will
will read
read as
follows:
as follows:
Use of
balUse
of reserve
reserve bal"The required
required balance
balance carried by aa member bank with aa Federal
"The
Federal
ance.
Reserve bank may,
may, under
the regulations
Reserve bank
under the
regulations and
and subject to such penalties
as may be prescribed
prescribed by the Board
Board of
of Governors
Governors of
of the
the Federal
Federal
Reserve SysI
System,
be checked
against and
withdrawn by such member
Reserve
em, be
checked against
and withdrawn
member
bank for the purpose
purpose of meeting
meeting existing
liabilities."
existing liabilities."
Approved,
Approved, July
7, 1942.
July 7,
1942.
,

[CHAPTER 4891
[CIIAPTER
489]
July 7, 1942
1942
[II. R.
[n.
R. 6702]
6702]
[Public Law
Law 557)
[Public
657]

Northern District
District of
of
Northern
California.
California.
Appointment of
of
judge.

44 Stat. 1372.
1372.
28 U. S.
S. C.,
C., Supp.
I,
upp. I,

Ii1.
1.

AN ACT
ACT
To
appointment of a
a district judge
To provide
provide for the appointment
the northern
judge for
for the
northern district
district of
of
California in order
California
order to fill
fill a
a vacancy
vacancy in the office of an additional
additional district
judge
district judge
heretofore authorized
district.
heretofore
authorized for such district.

Be it
enacted by
and House
House of Representatives
Representatives of the
Be
it enacted
by the Senate and
the
United States
of America
America in
in Congress
Congress assembled,
United
States of
assembled, That the
the President
President
is authorized
authorized to appoint, by and with the advice and
is
and consent
consent of
of the
the
Senate,
district judge for the District Court of the United States
Senate, aa district.
States
for the
California in order to fill the vacancy
for
the Northern
Northern District of California
vacancy
in
the
office
in the office of
of the
the district
district judge appointed for such district under
under
authority
of the
March 3, 1927, and,
authority of
the Act
Act of March
and, by and with the advice
and consent
consent of the Senate,
and
Senate, to fill any subsequent vacancy
vacancy in
in such
such
office.
office.
Approved, July
Approved,
July 7,
7, 1942.
1942.