978 Sale by Bridge Com- pany rest rict ed . Right of way from tract to bridge to be provided . Deposit of proceeds . Use of property re- stricted . May 29, 1928 . [H. R.13512.] [Pu blic , No .601.] Inland Waterways Corp orati on . Vol . 43, p .360, amend- ed. U.S. Code, p.1685. Capital sto ck in- creased . Subscription and pay- ment by U nited Sta tes . Additional sum au- thorized . Post, p . 1380. Vol .43, p .361, amend- ed . Corporation to con- t inue tran spor tatio n facilities operated by Secretary of War. Vol .41, p. 458. Water carriage on the Mississippi above Saint Lo uis. SEVENTIETH CONGRESS . SEss . I. CHs. 890, 891 . 1928 . veyance shall be made by the Secretary of Commerce to the New Orleans Pontchartrain Bridge Company or its successors or assigns, for the consideration in section 2 of this Act and the New Orleans Pontchartrain Bridge Company or its successors or assigns shall not sell the said property to the Louisiana Highway Commission or to the State of Louisiana, for more than $500 . SEc . 4. The grantee in any conveyance made under authority of this Act, and the successors and assigns of such grantee, shall provide a right of way one hundred feet wide from either side of the tract so conveyed to the road leading to the bridge for the purpose of giving to the present o r future owne rs or occupan ts of land lyi ng adjacent to either side of the said tract, access to the road from both its eas t an d we st s ides ; the southerly bo undary of the said right of way to be at a distance of three hundred feet north of the south line of the present lighthouse reservation . SEC. 5 . The proceeds of the sale authorized by this Act shall be deposited into the Treasury as miscellaneous receipts . SEC . 6 . The property conveyed under the authority of this Act shall be used solely for highway purposes and for toll houses in connection with the operation of the Pontchartrain Bridge . Approved, May 29, 1928 . CHAP . 891 .-An Act To amend the Act entitled "An Act to create the Inland Waterways Corporation for the purpose of carrying out the mandate and purpose of Congress, as expressed in sections 201 and 500 of the Transportation Act, and for other purposes," approved June 3, 1924 . Be it enacted by the Senate and the House o f Representatiives o f the United States o f America in Congress assembled, That section 2 of the Act entitled "An Act to create the Inland Waterways Corporation for the purpose of carrying out the mandate and purpose of Congress, as expressed in sections 201 and 500 of the Transportation Act, and for other purposes," approved June 3, 1924 (paragraph 152, chapter 5, title 49, Code of Laws of the United States ; chapter 24 3, volume 43, page 360, United States Statutes at Larg e), be, and the same ,is her eby, ame nded to read as foll ows : " SEC . 2. The capital stock of the corporation shall be $15,000,000, all of which is hereby 'subscribed for by the United States . Such subscription shall be paid by the Secretary of the Treasury, within the appropriations therefor, upon call from time to time by the Sec- retary of War . Upon any such payment a receipt therefor shall be issued by the corporation to the United States, and delivered to the Secretary of the Treasury, and shall be evidence of the stock owner- ship of the United States . There is hereby authorized to be appro- priated the sum of $10,000,000, in addition to the $5,000,000 hereto- fore authorized, for the purpose of paying such subscription ." SEC. 2. That section 3 of said Act be, and the same is hereby, amended to read as follows 11 SEC. 3. (a) Until otherwise directed by Congress, the corpora- tion shall continue the operation of the transportation and terminal facilities now being operated by or under the direction of the Sec- retary of War under section 201 of the Transportation Act, 1920, as amended, and shall continue to operate the facilities now being operated or that may hereafter be operated by it under the pro- visions of this Act ; and shall, as soon as there is an improved channel sufficient to permit the same, initiate and continue the water carriage heretofore authorized by law upon the Mississippi River above Saint Louis.
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