An Act to authorize the Foreign Claims Settlement Commission of the United States to investigate the claims of citizens of the United States who suffered property damage in 1951 and 1952 as the result of the artificial raising of the water level of Lake O
PL 87-587 (S.2978), enacted 08/14/1962

76 STAT. ] 
PUBLIC LAW 87-587-AUG. 15, 1962 
387 
in carrying out the purposes of this resolution. 
The Commission, 
to such extent as it finds to be necessary, may procure supplies, services, 
and property and make contracts, and may exercise those powers 
which it determines are necessary to enable it to carr^ out efficiently 
and in the public interest the purposes of this resolution. 
(b) Expenditures of the Commission shall be paid by the executive 
officer of the Commission, who shall keep complete records of such 
expenditures and who shall account also for all funds received by 
the Commission. 
A report of the activities of the Commission, in-
cluding an accounting of funds received and expended, shall be fur-
nished by the Commission to the Congress within one year following 
the celebration as prescribed by this resolution. 
The Commission 
shall terminate upon submission of its report to the Congress. 
(c) Any property acquired by the Commission remaniing upon 
termination of the celebration may be used by the Secretary of the 
Interior for purposes of the national park system or may be disposed 
of as surplus property. 
The net revenues, after paj^ment of Com-
mission expenses, derived from Commission activities, shall be 
deposited in the Treasury of the United States. 
Approved August 14, 1962. 
Report to 
Congress. 
Terminatilotu 
Surplus property 
and revenues, die-
position. 
Public Law 87-587 
AN ACT 
To authorize the Foreign Claims Settlement Commission of the United States 
to investigate the claims of citizens of the United States who suffered property 
damage in 1951 and 1952 as the result of the artificial raising of the water 
level of Lake Ontario. 
August 15, 1962 
[S. 2978] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That, notwithstand-
ing any other provision of law, the Foreign Claims Settlement Com-
mission of the United States (hereinafter referred to as the "Com-
mission") is authorized and directed to accept claims of citizens of 
the United States for damages caused during 1951 and 1952 by the 
construction and maintenance of Gut Dam m the Saint Lawrence 
River by the Canadian Government, and the Commission is further 
authorized and directed with respect to each such claim to determine 
the validity thereof and the amount of damages caused by Gut Dam. 
SEC. 2. Within sixty days after the enactment of this Act the 
Commission shall give public notice by publication in the Federal 
Register of the time when, and the limit of time within which, claims 
may be filed, which limit shall not be more than twelve months after 
such publication. 
SEC. 3. The Commission shall, as soon as practicable after all claims 
are determined by it, submit to the President a report and a list of 
claims determined to be valid, and the amount of each such claim and 
a list of claims determined to be invalid, for such action by the Presi-
dent as he may deem appropriate. 
SEC. 4. (a) There are hereby authorized to be appropriated such 
sums as may be necessary to carry out the provisions of this Act. 
(b) The Commission is authorized and directed to utilize its exist-
ing personnel and facilities to the maximum extent practicable to 
carry out the provisions of this Act. 
(c) Nothing herein shall be construed as authorizing the Commis-
sion to pay or certify for payment any claim filed hereunder. 
Foreign Claims 
Settlement Com-
mission. 
Damage claims, 
investigation. 
Lake Ontario, 
Canada. 
Publication 
in F. R. 
Report to 
President. 
Restriction. 
388 
PUBLIC LAW 87-588-AUG. 15, 1962 
[76 STAT. 
SEX3. 5. If the Government of Canada enters into an agreement with 
the Government of the United States providing for arbitration or adju-
dication of the claims filed under this Act, the Commission shall 
discontinue its investigation and determination of the claims and 
transfer or otherwise make available to the Secretary of State all 
records and documents relating to the claims or, on the request of the 
Secretary of State, return to claimants documents filed in support of 
their claims. 
Approved August 15, 1962. 
August 15. 1962 
[S. 1771] 
Public Law 87-588 
AN ACT 
To improve the usefulness of national bank branches in foreign countries. 
Federal Reserve 
System. 
National bank 
branches in for> 
eign countries. 
39 Stat. 755. 
12 u s e 601-632. 
48 Stat. 184. 
12 u s e 632. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 25 of 
the Federal Reserve Act, as amended, is amended by adding the 
following new paragraph at the end thereof: 
"Regulations issued by the Board of Governors of the Federal 
Reserve System under this section, in addition to regulating powers 
which a foreign branch may exercise under other provisions of law^, 
may authorize such a foreign branch, subject to such conditions and 
requirements as such regulations may prescribe, to exercise such fur-
ther powers as may be usual in connection with the transaction of the 
business of banking in the places where such foreign branch shall 
transact business. 
Such regulations shall not authorize a foreign 
branch to engage in the general business of producing, distributing, 
buying or selling goods, wares, or merchandise; nor, except to such 
limited extent as the Board may deem to be necessary with respect to 
securities issued by any 'foreign state' as defined in section 25(b) of 
this Act, shall such regulations authorize a foreign branch to engage or 
participate, directly or indirectly, in the business of underwriting, 
selling, or distributing securities." 
Approved August 15, 1962. 
August 16, 1962 
[S. 405] 
Public Law 87-589 
AN ACT 
To authorize the Secretary of the Interior to construct, operate, and maintain 
the Mann Creek Federal reclamation project, Idaho, and for other purposes. 
Mann Creek Fed-
eral reclamation 
project, Idaho. 
43 u s e 371 note. 
Construction 
cests, repayment 
period. 
72 Stat. 542, 
543. 
43 u s e 485h. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That for the pur-
poses of providing irrigation water for approximately fifty-one hun-
dred acres, conserving and developing fish and wildlife, and providing 
recreational benefits, the Secretary of* the Interior, acting pursuant 
to the Federal reclamation laws (Act of June 17, 1902, 32 Stat. 388, 
and Acts amendatory thereof or supplementary thereto), is authorized 
to construct, operate, and maintain the facilities of the Mann Creek 
Federal reclamation project, Idaho, 
The principal works of the 
project shall consist of a dam and reservoir, diversion facilities from 
the reservoir, and drainage facilities. 
SEC, 2, The base period provided in subsection (d), section 9, of the 
Reclamation Project Act of 1939, as amended, for repayment of the 
construction costs properly chargeable to any block of lands and 
assigned to be repaid by irrigators shall be forty years, exclusive of