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the recorder's office and that they are, in some instances, wholly out of line with the actual costs of rendering service. The deficit of the office, for the fiscal year ended June 30, 1934, receipts below appropriations, was $10,596. However, a credit to the appropriation of $11,475 remained at the end of the fiscal year. It is the intention of the bill to set the fees at such amount as will definitely cover the cost of operations and earn a modest surplus against deficiencies.
The bill further provides for an ascertainment by the recorder of deeds that the capital stock of each proposed incorporation in the District of Columbia has been paid in cash to the extent of 10 percent of the par value of the stock. This is intended to clarify existing legislation.
The bill as amended is considered to be in the interests of better operation of the office of the recorder of deeds and is approved by the Commissioners of the District of Columbia.
FEBRUARY 15 (calendar day FEBRUARY 20), 1935.-Ordered to be printed
Mr. Hatch, from the Committee on the Judiciary, submitted the
[To accompany S. 1616)
The Committee on the Judiciary, having had under consideration the bill S. 1616, being a bill to amend the Bankruptcy Act, report the same favorably to the Senate, with the recommendation that it do pass with the following amendment:
On line 5, page 2, after the word “means", strike out the words "the words
Chairman Committee on Interstate and for House of Representatives. 74TH CONGRESS SENATE
REPORT 18t Session
No. 135 BRIDGE ACROSS THE OHIO RIVER BETWEEN ROCKPORT,
IND., AND OWENSBORO, KY. FEBRUARY 15 (calendar day, FEBRUARY 21), 1935.-Ordered to be printed Mr. SHEPPARD, from the Committee on Commerce, submitted the
[To accompany H. R. 3982] The Committee on Commerce, to whom was referred the bill (H. R. 3982) to extend the times for commencing and completing the construction of a bridge across the Ohio River between Rockport, Ind., and Owensboro, Ky., having considered and amended the same, report thereon with a recommendation that it pass.
The bill has the approval of the War and Agriculture Departments, as will appear by the letters attached.
WAR DEPARTMENT, January 26, 1935. Respectfully returned to the Chairman Committee on Interstate and Foreign Commerce, House of Representatives.
So far as the interests committed to this Department are concerned, I know of no objection to the favorable consideration of the accompanying bill (H. R. 3982, 74th Cong., 1st sess.), to extend the times for commencing and completing the construction of a bridge across the Ohio River between Rockport, Ind., and Owensboro, Ky., if amended as indicated in red thereon.
GEO. H. DERN, Secretary of War. DEPARTMENT OF AGRICULTURE,
Washington, January 30, 1985. Hon. Sam RAYBURN,
DEAR MR. RAYBURN: Careful consideration has been given to the bill (H. R. 3982) transmitted with your letter of January 22 with request for a report thereon and such views relative thereto as the Department might desire to communicate.
This bill would extend for 1 and 3 years, respectively, from June 18, 1934, the times for commencing and completing the construction of a bridge across the Ohio River between Rockport, Ind., and Owensboro, Ky., authorized by act of Congress approved June 18, 1934 (48 Stat. 1016), to be built by the Spencer
County Bridge Commission, of Spencer County, Ind. Apparently the bill is in error in providing for the time extensions proposed to run from June 18, 1934, as it would seem that the intention is to provide for extending the times 1 and 3 years, respectively, from June 18, 1935.
The Spencer County Bridge Commission, which the act of June 18, 1934, authorizes to construct a bridge at the point indicated, would be created and exercise the powers as provided by Chapter 114, Acts of Indiana General Assembly, 1929. Such commission would be authorized to construct the bridge and issue revenue bonds to provide funds for paying the cost of such construction and to operate the bridge as a toll bridge, all proceeds of the tolls to be applied in meeting maintenance, repair, and operation costs, and paying the principal and interest on the bonds issued. After all such bonds and interest thereon shall have been paid, or a fund sufficient for such payment shall have been provided, the bridge would be required under the law to become free and by operation of said act would become the property of the State of Indiana and a part of the State system and would be maintained by the State of Indiana out of the maintenance fund of the State highway commission. The pending bill is without objection so far as this Department is concerned. Sincerely yours,
H. A. WALLACE, Secretary. (Public-No. 410—73D CONGRESS]
(H. R. 9721) AN ACT Authorizing the Spencer County Bridge Commission, of Spencer County, Indiana, to construct, maintain, and operate a toll bridge across the Ohio River between Rockport, Indiana, and Owensboro, Kentucky.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That in order to promote interstate commerce, improve postal service, and provide for military and other purposes, the Spencer County Bridge Commission, of Spencer County, Indiana, be, and is hereby, authorized to construct, maintain, and operate a bridge and approaches thereto, across the Ohio River, at a point suitable to the interests of navigation, between Rockport, Indiana, and Owensboro, Kentucky, in accordance with the provisions of the Act entitled “An Act to regulate the construction of bridges over navigable waters”, approved March 23, 1906, and subject to the conditions and limitations contained in this Act.
Sec. 2. There is hereby conferred upon the Spencer County Bridge Commission, of Spencer County, Ind., all such rights and powers to enter upon lands and to acquire, condemn, occupy, possess, and use real estate and other property needed for the location, construction, maintenance, and operation of such bridge and its approaches as are possessed by railroad corporations for railroad purposes or by bridge corporations for bridge purposes in the State in which such real estate or other property is situated, upon making just compensation therefor, to be ascertained and paid according to the laws of such State, and the proceedings therefor shall be the same as in the condemnation or expropriation of property for public purposes in such State.
Sec. 3. The said Spencer County Bridge Commission, of Spencer County, Ind., is hereby authorized to fix and charge tolls for transit over such bridge, and the rates of toll so fixed shall be the legal rates until changed by the Secretary of War under the authority contained in the act of March 23, 1906.
Sec. 4. In fixing the rates of toll to be charged for the use of such bridge, the same shall be so adjusted as to provide a fund sufficient to pay for the reasonable cost of maintaining, repairing, and operating the bridge and its approaches under economical management, and to provide a sinking fund sufficient to amortize the cost of such bridge and its approaches, including reasonable interest and financing cost, as soon as possible, under reasonable charges, but within a period of not to exceed 20 years from the completion thereof. After a sinking fund sufficient for such amortization shall have been so provided, such bridge shall thereafter be maintained and operated free of tolls, or the rates of toll shall thereafter be so adjusted as to provide a fund of not to exceed the amount necessary for the proper maintenance, repair, and operation of the bridge and its approaches under economical management. An accurate record of the cost of the bridge and its approaches, the expenditures of maintaining, repairing, and operating the same, and of the daily tolls collected shall be kept and shall be available for the information of all persons interested.
Sec. 5. The right to alter, amend, or repeal this Act is hereby expressly reserved. Approved, June 18, 1934.