998 SIXTY-SIXTH CONGRESS. Sess. II. Ch. 250. 1920. mrc ot construction Providedfurther, That at least two—thjrds of the cost of any vessel F§*,K,l{°d Mm °”°m”’ constructed under this paragra h shall be paid for out of the ordinary funds or capital of the person hlaving such vessel constructed. _I¤c0me tax smart That during the period of ten Uyears from the enactment of this Zig gfasiifffzailsiiigé Act any person a citizen of the nited States who may sell a vessel
}"‘°’ '° J“““’*’Y documented under the laws of the United States and built prior to
' January 1, 1914, shall be exempt from all income taxes that would §g*v;,*g»xggh§Qh°?gé be payable u on any of the proceeds of such sale under Title I, Title gag; built mm pm- II, ant; Titlglgl of the §tever];uebA1;:1thp5 19f18 if th]; entire proceeds ‘ thereo sha e investe in the ` g o new s in American shipyards, such ships to be documented under tg; laws of the United States and to be of a type approved by the board. _ Mins to bqshigped Sec. 24. That all mails of the United States_sl11pped or carried on °°é°§§§§€“§§S§€ @3,. vessels shall, 1f practicable, be shipped or carried on American-binlt ¤°¤m°*b*dd°¤·°°°- vessels documenteg undtinr thellaws of theGUmteiifStates. No contract hereafter ma e wit the ostmaster enera or carrying mails on vessels so built and documented shall be assigined or sublet, and no mails covered by such contract shall be carrie on any vessel not so built and documented. No money shall be paid out of the Treasury of the United Sfiates <i)n cir in rglagsion to anyisucil-1 contrsict for carrying mails` on vesse so ui t an ocumente w en suc contract as been assigned or sublet or when mails covered by such contract are in violation of the terms thereof carried on any vessel not so built Determimnw vf and documented. The board and the Postmaster General, in aid of "°°°s’°°°' the developmental of a merchant marine adequate to providg fop tge maintenance an expansion of the fore` or coastwise tra e o the United States and of a satisfactory postslfservcice in connection there— with, shall from timebto time determine the just anld ripasgnable rate of com ensation to e aid for such service an the ostmaster Cgeneralpis hereby autliioriiaed go eptea into contracts xwgitlrirg the limits o appropriations ma e there or y ongress to ay or the carr lllg {gw Act ¤¤* =PP¥i· of such mails H1 such vessels at such rate. Notliing here1n_shal}l be °°v¤i. ze, p. am. affected btylthe Act entitled “An Act to provide for ocean mail service between e Unged States and foreign ports, and to promote commerce " approve March 3 1891. _ Sggmggigw B¤¤¤¤= of Snci 25. ll`hat for the clahsification of vessels owned by the United cligsratamm of me- States, and for such other purposes in connection therewith as are the 5°‘*""`*'“°g”‘“`l‘ proper funcflions of a classification bureau, all derilartnlientfis, boagds, ureaus an commissions of the Government are ere y irecte to reco ide the American Bureau of Shipping as their agency so long as tg; American Bureau of Shipping continues to be maintained as an orvanization which has no ca ital stock and pays no dividends: g;<;;;;_g;mut mm Provided, That the Secretary of gommerce and the chairman of the guagugvetoseon com- gourd shallteach appomt on¢;_represent_at£1ve whpl slxilll represgit the °· overnmen upon e execu 1ve commit ee o the erican ureau of Sgiilpping, audi tire bgrreau shall agree that thise relpresentatives sha e accepte y them as active members o suc committee. Such representatives of the Government shall serve wgthegtdaiy c%m— ¥¤*¤§<>¤ <>f· Of ··f- ensation except necessary traveling ex enses; rot e urt er ggiféiigf ° °f m°r`m°° That the ofhcialllist of merchant vessels published by the Government shalllhejfgtlf ter 0Ol?é8.1I1 a nc;_tt§%>n clearly indicating all vessels classed byt e erican ureauo 'p ing. <1;§;g<_j;;;=¤S·mmed Sec. 26. That cargo vessels diocumented under the laws of the t¤,umasi. United States may carry not to exceed sixteen persons in addition to the crew between any ports or places in the United States or its Districts, Territories, or possessions, or between any such port or place and any foreign port, or from any fore` port to anot er for— eign port, and such vessels shall not `pe hegld tex " passenger vessels " or " vessels carrying passengers" wit iin the meaning of the inspection {gig;-. equi? laws and the rules and regulations thereunder; Provided, That nothing mmtrequigd. herein shall be taken to exempt such vessels from the laws, rules, an
