An Act to amend section 1208(a) of the Merchant Marine Act, 1936, to authorize investment of the war risk insurance fund in securities of, or guaranteed by, the United States
PL 87-743 (H.R.11728), enacted 10/03/1962

740 
PUBLIC LAW 87-742-OCT. 3, 1962 
[76 STAT. 
Fallout shelters. 
Research proj-
ects. 
Short title. 
nel administration consisting of direction and administration of the 
personnel program; employment, placement, and separation; job 
evaluation and classification; employee relations and services; wage 
administration; and processing, recording, and reporting. 
SEC. 303. No part of any appropriation contained in this or any 
other Act, or of any funds available for expenditure by any corpo-
ration or agency, shall be used for construction of fallout shelters 
unless the specific projects have been authorized by appropriate 
Committees of the Congress. 
SEC. 304. None of the funds provided herein shall be used to pay 
any recipient of a grant for the conduct of a research project an 
amount for indirect expenses in connection with such project in excess 
of 25 per centum of the direct costs. 
This Act may be cited as the "Independent Offices Appropriation 
Act, 1963". 
Approved October 3, 1962. 
October 3, 1962 
HH. R. 11266] 
Public. Law 87-742 
AN ACT 
To amend the Act of March 8, 1922, as amended, to extend its provisions to the 
townsite laws applicable in the State of Alaska. 
Alaska. 
Coal, oil or gas 
lands, disposi-
tion. 
26 Stat. 1099. 
42 Stat. 416. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That section 3 of 
the Act of March 8, 1922 (42 Stat. 415), as amended (75 Stat. 384; 
48 U.S.C. 376, 377, 377a), is further amended to read as follows: 
"SEC. 3. The Secretary of the Interior may (a) sell under the provi-
sions of section 2455 of the Revised Statutes (43 U.S.C. 1171), as 
amended, or (b) make disposition under the following townsite laws, 
as amended: Sections 2380 and 2381 of the Revised Statutes (43 
U.S.C. 711,712); section 11 of the Act of March 3,1891 (26 Stat. 1009; 
48 U.S.C. 355); Act of May 25, 1926 (44 Stat. 629; 48 U.S.C. 355a-
355d); and Act of March 12, 1914 (38 Stat. 305; 48 U.S.C. 301, 302, 
303-308), of any lands in Alaska known to contain workable coal, 
oil or gas deposits, or that may be valuable for the coal, oil or gas 
contained therein, and which are otherwise subject to sale or disposi-
tion under said section 2455, as amended, or the said townsite laws, 
as amended, upon the condition that the patent issued to the purchaser 
thereof shall contain the reservation required by section 2 of this Act." 
Approved October 3, 1962. 
October 3, 1962 
[H. R. 11728] 
Public Law 87-743 
AN ACT 
To amend section 1208(a) of the Merchant Marine Act, 1936, to authorize 
investment of the war risk insurance fund in securities of, or guaranteed by, 
the United States. 
War risk insur-
ance fvind. 
Investment. 
64 Stat. 775. 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That section 1208 (a) 
of the Merchant Marine Act, 1936 (46 U.S.C. 1288(a)), is amended 
by inserting at the end thereof the following: "Upon the request of the 
Secretary of Commerce, the Secretary of the Treasury may invest or 
reinvest all or any part of the fund in securities of the United States 
or in securities guaranteed as to principal and interest by the United 
States. The interest and benefits accruing from such securities shall 
be deposited to the credit of the fund." 
Approved October 3, 1962.