72 Stat. 327. EFFECTIVE DATE SEC. 5. This Act shall take effect on the first day of October 1958 or on the first day of the introduction of any new model of automobile in any line of automobile beginning after the date of enactment of this Act, whichever date shall last occur. Approved July 7, 1958. Public Law 85-601 85th Congress, S. 2933 AN ACT To extend the life of the Alaska International Rail and Highway Commission and to increase its authorization. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) section 3 Alaska Interof the Act entitled "An Act to establish an Alaska International Rail national Rail and Highway Commission", approved August 1, 1956 (70 Stat. 888; and Highway 48 U. S. C. 338), as amended, is amended to read as follows: "The Commission. Commission is authorized to cooperate with the officials of the Domin- Cooperation. ion of Canada and of the Provinces of British Columbia and Alberta and with any commission or similar body appointed for such purpose by the Dominion of Canada or the Provinces of British Columbia or Alberta. The Secretary of State shall, at the request of the Commission, arrange for meetings with such officials and with such commissions or similar bodies of the Dominion of Canada or the Provinces of British Columbia and Alberta." (b) Section 7 of such Act is amended by striking out "not later 48 USC 338f. than two years after the date of enactment of this Act", and inserting Final report. in lieu thereof "at the earliest practicable time, but in no event later 72 Stat. 524. than February 1, 1960". Section 7 is further amended by striking 72 Stat. 525. out the last sentence thereof which reads as follows: "The Commission shall cease to exist, and all authority conferred by this Act shall terminate, thirty days after the date of submission of the final report," and inserting in lieu thereof: "The Commission shall cease to exist Termination. for all intents and purposes, and all authority conferred by this Act shall and does terminate thirty days after the date of the submission of the final report or on March 1, 1960, whichever date occurs first." (c) Section 8 of such Act is amended by striking out "$75,000" Appropriation. and inserting in lieu thereof "$300,000”. Approved August 8, 1958. 85th Congress, H. R. 12850 August 12, 1958 AN ACT To prohibit the introduction, or manufacture for introduction, into interstate commerce of switchblade knives, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That as used in Switchblade this Act (a) The term "interstate commerce" means commerce between any State, Territory, possession of the United States, or the District of Columbia, and any place outside thereof. (b) The term "switchblade knife” means any knife having a blade which opens automatically (1) by hand pressure applied to a button or other device in the handle of the knife, or (2) by operation of inertia, gravity, or both. knives. Prohibition. Definitions. SEC. 2. Whoever knowingly introduces, or manufactures for intro- Penalty. duction, into interstate commerce, or transports or distributes in interstate commerce, any switchblade knife, shall be fined not more than $2,000 or imprisoned not more than five years, or both. SEC. 3. Whoever, within any Territory or possession of the United Territorial States, within Indian country (as defined in section 1151 of title 18 jurisdiction. of the United States Code), or within the special maritime and ter- 62 Stat. 757; ritorial jurisdiction of the United States (as defined in section 7 of 63 Stat. 94. title 18 of the United States Code), manufactures, sells, or possesses 62 Stat. 685; any switchblade knife, shall be fined not more than $2,000 or impris- 66 Stat. 589. oned not more than five years, or both. SEC. 4. Sections 2 and 3 of this Act shall not apply to (1) any common carrier or contract carrier, with respect to any switchblade knife shipped, transported, or delivered for shipment in interstate commerce in the ordinary course of business; (2) the manufacture, sale, transportation, distribution, possession, or introduction into interstate commerce, of switchblade knives pursuant to contract with the Armed Forces; (3) the Armed Forces or any member or employee thereof acting in the performance of his duty; or (4) the possession, and transportation upon his person, of any switchblade knife with a blade three inches or less in length by any individual who has only one arm. Exceptions. SEC. 5. Section 1716 of title 18 of the United States Code is amended Nonmailable by inserting immediately after the sixth paragraph thereof the fol-knives. lowing new paragraph: "All knives having a blade which opens automatically (1) by hand pressure applied to a button or other device in the handle of the knife, or (2) by operation of inertia, gravity, or both, are nonmailable and shall not be deposited in or carried by the mails or delivered by any postmaster, letter carrier, or other person in the postal service. Such Regulations. knives may be conveyed in the mails, under such regulations as the Postmaster General shall prescribe "(1) to civilian or Armed Forces supply or procurement officers and employees of the Federal Government ordering, procuring, or purchasing such knives in connection with the activities of the Federal Government; "(2) to supply or procurement officers of the National Guard, the Air National Guard, or militia of a State, Territory, or the District of Columbia ordering, procuring, or purchasing such knives in connection with the activities of such organizations; 72 Stat. 562. 72 Stat. 563. 55-598 0-71-34 mailing. 72 Stat. 563. "(3) to supply or procurement officers or employees of the municipal government of the District of Columbia or of the government of any State or Territory, or any county, city, or other political subdivision of a State or Territory, ordering, procuring, or purchasing such knives in connection with the activities of such government; and "(4) to manufacturers of such knives or bona fide dealers therein in connection with any shipment made pursuant to an order from any person designated in paragraphs (1), (2), and (3). Requirement for The Postmaster General may require, as a condition of conveying any such knife in the mails, that any person proposing to mail such knife explain in writing to the satisfaction of the Postmaster General that the mailing of such knife will not be in violation of this section." Effective date. SEC. 6. This Act shall take effect on the sixtieth day after the date of its enactment. Approved August 12, 1958. 85th Congress, S. 3778 AN ACT To amend the Interstate Commerce Act, as amended, so as to strengthen and improve the national transportation system, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may Transportation be cited as the "Transportation Act of 1958”. AMENDMENT TO INTERSTATE COMMERCE ACT, RELATING TO LOAN GUARANTIES SEC. 2. The Interstate Commerce Act, as amended, is amended by inserting immediately after part IV thereof the following new part: "PART V "SEC. 501. It is the purpose of this part to provide for assistance to common carriers by railroad subject to this Act to aid them in acquiring, constructing, or maintaining facilities and equipment for such purposes, and in such a manner, as to encourage the employment of labor and to foster the preservation and development of a national transportation system adequate to meet the needs of the commerce of the United States, of the postal service, and of the national defense. "DEFINITIONS "SEO. 502. For the purposes of this part "(a) The term 'Commission' means the Interstate Commerce Commission. "(b) The term 'additions and betterments or other capital expenditures' means expenditures for the acquisition or construction of property used in transportation service, chargeable to the road, property, or equipment investment accounts, in the Uniform System of Accounts prescribed by the Interstate Commerce Commission. Act of 1958. 56 Stat. 284. 49 USC 1001. "(c) The term 'expenditures for maintenance of property' means expenditures for labor, materials, and other costs incurred in maintaining, repairing, or renewing equipment, road, or property used in transnation service chargeable to operating expenses in accordance with the Uniform System of Accounts prescribed by the Commission. 72 Stat. 568. "LOAN GUARANTIES "SEC. 503. In order to carry out the purpose declared in section 501, the Commission, upon terms and conditions prescribed by it and consistent with the provisions of this part, may guarantee in whole or in part any public or private financing institution, or trustee under a trust indenture or agreement for the benefit of the holders of any securities issued thereunder, by commitment to purchase, agreement to 'share losses, or otherwise, against loss of principal or interest on any loan, discount, or advance, or on any commitment in connection therewith. which may be made, or which may have been made, for the purpos of aiding any common carrier by railroad subject to this Act in the nnancing or refinancing (1) of additions and betterments or other capital expenditures, made after January 1, 1957, or to reimburse the carrier for expenditures made from its own funds for such additions and betterments or other capital expenditures, or (2) of expenditures for the maintenance of property: Provided, That in no event shall the 72 Stat. 569. 72 Stat. 569. 72 Stat. 570. aggregate principal amount of all loans guaranteed by the Commission exceed $500,000,000. "LIMITATIONS "SEC. 504. (a) No guaranty shall be made under section 503- "(2) if in the judgment of the Commission the loan involved is at a rate of interest which is unreasonably high; "(3) if the terms of such loan permit full repayment more than fifteen years after the date thereof; or "(4) unless the Commission finds that the prospective earning power of the applicant carrier, together with the character and value of the security pledged, if any, furnish reasonable assurance of the applicant's ability to repay the loan within the time fixed therefor and reasonable protection to the United States. A statement of the findings of the Commission required under the provisions of this subsection shall be made a matter of public record by the Commission with respect to each loan guaranteed under the provisions of this part. "(b) It shall be unlawful for any common carrier by railroad subject to this Act to declare any dividend on its preferred or common stock while there is any principal or interest remaining unpaid on any loan to such carrier made for the purpose of financing or refinancing expenditures for maintenance of property of such carrier, and guaranteed under this part. "MODIFICATIONS "SEC. 505. The Commission may consent to the modification of the provisions as to rate of interest, time of payment of interest or principal, security, if any, or other terms and conditions of any guaranty which it shall have entered into pursuant to this part, or the renewal or extension of any such guaranty, whenever the Commission shall determine it to be equitable to do so. "PAYMENT OF GUARANTIES; ACTION TO RECOVER PAYMENTS MADE "SEC. 506. (a) Payments required to be made as a consequence of any guaranty by the Commission made under this part shall be made by the Secretary of the Treasury from funds hereby authorized to be appropriated in such amounts as may be necessary for the purpose of carrying out the provisions of this part. "(b) In the event of any default on any such guaranteed loan, and payment in accordance with the guaranty by the United States, the Attorney General shall take such action as may be appropriate to recover the amount of such payments, with interest, from the defaulting carrier, carriers, or other persons liable therefor. "GUARANTY FEES "SEC. 507. The Commission shall prescribe and collect a guaranty fee in connection with each loan guaranteed under this part. Such fees shall not exceed such amounts as the Commission estimates to be necessary to cover the administrative costs of carrying out the provisions of this part. Sums realized from such fees shall be deposited in the Treasury as miscellaneous receipts. |