An Act to amend the act of April 6, 1949, to provide for additional emergency assistance to farmers and stockmen, and for other purposes.
PL 83-115 (H.R.6054), enacted 07/14/1953

67 STAT.] 
PUBLIC LAW 115-JULY 14, 1953 
149 
land, formerly designated as the Naval Amphibious Training Station, 
together with any improvements thereon which may exist at the time 
of the transfer, situated on Ocracoke Island within the village of 
Ocracoke, County of Hyde, in the State of North Carolina. 
The 
property so transferred shall be administered by the Department of 
the Interior and shall become a part of the Cape Hatteras National 
Seashore Recreational Area, when established. 
Approved July 14, 1953. 
Public Law 115 
CHAPTER 192 
AN ACT 
To amend the Act of April 6, 1949, to provide for additioiuil einergeftcy assistance 
to farmers and stocltmen, and for other purposes. 
July 14. 1953 
[H. R. 60541 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assemhled^ That section 2 of the 
Act of April 6, 1949 (63 Stat. 43), as amended, is hereby further 
amended as follows: 
(A) After the second sentence of subsection (a) add the following 
new subsections: 
u 
ECONOMIC DISASTER LOANS 
"(b) The Secretary is authorized in connection with any major dis-
aster determined by the President to w arrant assistance by the Federal 
Government under Public Law 875, Eighty-first Congress (42 U. S. C. 
1855), as amended, to make loans to established farmers and stockmen 
for any agricultural purpose in the area covered by the determination 
of the President, if the Secretary finds that an economic disaster has 
also caused a need for agricultural credit that cannot be met for a 
temporary period from commercial banks, cooperative lending agen-
cies, the Farmers' Home Administration under its regular loan pro-
grams, or other responsible sources. The loans shall be made at such 
rates of interest and on such general terms as the Secretary shall 
prescribe for such area. 
F ar mer s 
and 
stockmen. 
Loans. 
12 tree 1148a-2. 
64 Stat. 1109. 
SPECIAL LIVESTOCK LOANS 
"(c) For a period of two years from the effective date of this sub-
section loans for $2,500 or more may be made to established producers 
and feeders of cattle, sheep, and goats (not including operators of 
commercial feed lots) who liave a good record of operations, but are 
unable temporarily to get the credit they need from recognized lenders 
and have a reasonable chance of working out of their difficulties with 
supplementary financing. The loans may be made on such security 
as the borrower has available and for the time reasonably required by 
the needs of the borrower but not exceeding, in the first instance, a 
period of three years. The creditors of the applicant will not be asked 
to subordinate their indebtedness but must be willing to work with 
the borrower to the extent of executing standby agreements for such 
periods of time as is reasonably necessary to give the borrower a chance 
to substantially improve his situation. The loans shall bear interest 
at the rate of 5 per centum per amium and shall be made on such other 
terms and conditions as the Secretary shall prescribe. The loans shall 
be subject to approval by a special committee appointed by the Sec-
retary to serve for the particular area as determined by the Secretary. 
Loans exceeding $50,000 shall also be approved by the Secretary. The 
committee shall consist of at least three members appointed by the 
Secretary from local persons having recognized knowledge of the live-
interest. 
L o c a l 
tees. 
150 
PUBLIC LAW 116-JULY 14, 1953 
[67 S T A T 
64 Stat. 1109. 
stock industry. The committee shall perform such additional func-
tions under this Act, including general direction of the servicing of 
the loans, as the Secretary may prescribe. The members shall serve 
at such compensation as the Secretary shall determine not exceeding 
$25 for each day spent on the work of the committee and shall be 
entitled to receive transportation costs and per diem in accordance 
with standard Government travel regulations. 
"EMERGENCY ASSISTANCE IN FURNISHING FEED AND SEED 
"(d) The Secretary is authorized in connection with any major dis-
aster determined by tne President to warrant assistance by the Federal 
Government under Public Law 875, Eighty-first Congress (42 U. S. C. 
1855), as amended, to furnish to established farmers, ranchers, or 
stockmen feed for livestock or seeds for planting for such period or 
periods of time and under such terms and conditions as the Secretary 
may determine to be required by the nature and effect of the disaster. 
The Secretary may utilize the personnel, facilities, property, and 
funds of any agency of the United States Department of Agriculture, 
including Commodity Credit Corporation, for carrying out these func-
tions and shall reimburse the agencies so utilized for the value of any 
commodities furnished which are not paid for by the farmers or ranch-
men, and for costs and administrative expenses necessary in performing 
such functions." 
AMENDMENTS TO EXISTING PROVISIONS 
(B) The last sentence of subsection (a) is designated as subsection 
(e) and a comma and the word "reimbursement", shall be inserted 
after the word "loans" where it first appears in said subsection. 
(C) The letter " ( a ) " in the last clause of subsection (b) is deleted, 
the subsection is redesignated as subsection (f), and there shall be 
Appropriations, 
added at the end thereof the following new sentence: "There is hereby 
authorized to be appropriated to the revolving fund such additional 
sums as the Congress shall from time to time determine." 
Loan security. 
SEO. 2. Loans undcT tliis Act shall be secured by the personal obli-
gation and available security of the producer or producers, and in the 
case of loans to corporations or other business organizations, by the 
personal obligation and available security of each person holding as 
much as 10 per centum of the stock or other interest in the corporation 
or organization. 
Approved July 14, 1953. 
[alyl4. 1953 
[H. R. 3411] 
Public Law 116 
CHAPTER 193 
AN ACT 
To direct the Secretary of the Army to reestablish and correct the boundaries 
of the Qiiincy National Cemetery by the exchange of Government-owned lands 
in the Quincy-Graceland Cemetery. Quincy, Illinois. 
Quincy National 
Cemetery, HI. 
Boundaries. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That for the purpose 
of reestablishing and correcting the boundaries of the Quincy Na-
tional Cemetery, Quincy, Illinois, the Secretary of the Army is 
directed to convey to the Quincy-Graceland Cemetery Association 
all right, title, and interest of the United States in and to those parcels 
of land acquired by deed dated October 25, 1899, from the Quincy 
Cemetery Association, which lie outside the fenced area of the Quincy