250
SEVENTY-FIRST C ONGRESS . SEss . IL CHs . 205-207 . 1930 . fixed by the Secretary of the Interior the advance payment of which Land s per manent ly may be required, in the discretion of the said Secretary. Should unproductive, to be charged off as loss to said lands temporarily classed as unproductive, or any of them, in fund, the future be found by the Secretary of the Interior to be perma- nently unproductive, the charges against them shall be charged off as a permanent loss to the reclamation fund and they shall thereupon be treated in the same manner as other permanently unpro- paNo refund of charges ductive lands as provided in this Act except that no refund shall be made of the construction charges paid on such unproductive areas and applied as a credit on productive areas as herein authorized ." Approved, April 23, 1930 . Apri l 1930 .
CHAP . 206 .-An Act To add certain lands to the Helena National Forest [H . R.4810.1 [Public, No . 162 .1 in the State of Montana . Be it enacted by the Senate and House o f Representatives o f the United States o f America in Congress assembled, That the following- des cribed lands be, and the s ame are here by, added to and made a par t of the Hele na National F orest, in th e State of Mo ntana, and are hereafter to be administered subject to the laws and regulations relating to the national forests : North half and south half southwest quarter section 14, and north half and south half southwest quarter section 22, all in township 14 north, range 6 west, Montana meridian . Approved, April 23, 1930 . Helena National For- est Mont . )ands added to . April 23,1 930 . [H. R . 6604 .]
CHAP. 207 .-An Act To amend sections 6 and 9 of the Federal Reserve [Public, No . 163.1
Act, and for other purposes . Federal Reserve Act, Be it enacted by the Senate and House of Representatives of the amendments .
United States o f America in Congress assembled, That section 6 of the Act of December 23, 1913, known as the Federal Reserve Act (United States Code, title 12, section 288), be amended and reenacted Insolv ent me mber to j read as follows : banks .
SEC . 6. I f any member bank shall be declared in solvent and a stock of, in reserve and dsu bank cancele d and
receiver appointed therefor, the stock held by it in said Federal sc VoLo n distr b ut a- reserve bank shall be canceled, without impairment of its liability, , p,258, ed.
and all cash-paid subscriptions on said stock, with one-half of 1 per U.S.C ., p. 278 .
centum per month from the period of last dividend, if earned, not to exceed the book value thereof, shall be first applied to all debts of the insolvent member bank to the Federal reserve bank, and the National banks . balance, if any, shall be paid to the receiver of the insolvent bank . Com ptr oll er of the "If any national bank which has not gone into liquidation as Currency may appoint receiver for, if discon- provided in section 5220 of the Revised Statutes (United States tisling banking busi- Code, title 12, section 181) and for which a receiver has not already R. S., see. 5220, p . been appointed for other lawful cause, shall discontinue its banking 10u.s.c.,p.271. operations for a period of sixty days the Comptroller of the Currency may, if he deems it advisable, appoint a receiver for such bank. The stock held by the said national bank in the Federal reserve bank of its district shall thereupon be canceled and said stock in reserve national bank shall receive in payment therefor, under regulations bank canceled an d pay- to be prescribed by the Federal Reserve Board, a sum equal to its bank to the nat ion al cash-pai d subscripti ons on the sh ares canceled and one-hal f of 1 per centum a month from the period of the last dividend, if earned, not to e xceed the bo ok value ther eof, less any liability o f such Reserve banks to cer- national bank to the Federal reserve bank. ti fy reduction of stock " whenever the capital stock of a Federal reserve bank is reduced to Co mptro ller .
either on account of a reduction in capital stock of any member bank or of the liquidation or insolvency of such bank or on account
�
