direction, and shall then be subscribed by the deponent. The registrar, or any officer, employee, or agent of the United States authorized in writing by him, may administer oaths and examine any witness. Any witness summoned or whose deposition is taken, under this section shall be paid the same fees and mileage as are paid witnesses in the courts of the United States.

(b) In the case of failure to comply with any subpoena or in the case of the contumacy of any witness before the registrar, or any individual so authorized by him, the registrar or such individual may invoke the aid of any federal district court. Such court may thereupon order the witness to comply with the requirements of such subpoena and to give evidence touching the matter in question. Any failure to obey such order may be punished by such court as a contempt thereof.

(c) No person shall be excused from so attending and testifying or deposing, nor from so producing any book, paper, document, or other evidence, on the ground that the testimony or evidence, documentary or otherwise, required of him may tend to incriminate him or subject him to a penalty or forfeiture; but no natural person shall be prosecuted or subjected to any penalty of forfeiture for or on account of any transaction, matter, or thing to which, in obedience to a subpoena and under oath, he may so testify, except that no person shall be exempt from prosecution and punishment for perjury committed in so testifying.

(d) For the efficient administration of the functions vested in the registrar by this act, he, or any officer, employee, or agent of the United States authorized in writing by him, shall at all reasonable times for the purpose of examination have access to and the right to copy any book, account, record, paper, or correspondence relating to the business or affairs of a China Trade Act corporation. Any person who upon demand refuses the registrar or any duly authorized officer, employee, or agent such access or opportunity to copy, or hinders, obstructs, or resists him in the exercise of such right, shall be liable to a penalty of not more than $5,000 for each such offense. Such penalty shall be recoverable in a civil suit brought in the name of the United States.

SEC. 16. In case of the voluntary dissolution of a China Trade Act corporation or revocation of its certificate of incorporation, the directors of the corporation shall be trustees for the creditors and stockholders of the corporation; except that upon application to the United States Court for China by any interested party, or upon the motion of any court of competent jurisdiction in any proceeding pending before it, the court may in its discretion appoint as the trustees such persons, other than the directors, as it may determine. The trustees are invested with the powers; and shall do all acts, necessary to wind up the affairs of the corporation and divide among the stockholders according to their respective interests the property of the corporation remaining after all obligations against it have been settled. For the purposes of this section the trustees may sue and be sued in the name of the corporation and shall be jointly and severally liable to the stockholders and creditors of the corporation to the extent of the property coming into their hands as trustees.

REGULATIONS Sec. 17. (a) The Secretary is authorized to make such regulations as may be necessary to carry into effect the functions vested in him or in the registrar by this act.

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(b) That the Secretary is authorized to prescribe and Ex the amount of such fees (other than the incorporation iee) to be paid him of the regisz25 for services rendered by the Secretary or the registrar to any person in the administration of the provisions of this act. All fees and penajes paid under if.1x arı shall be covered into the Treasury oi the United States as riscellaneous receipts.

PENALTIES Sic. IR. No stockholder, director, officer, employee, or agert of a China Trade Aci corporation shall make, issue, or publish any statement, write or oral, of advertisement in any íorm, as to the value or as to the facts affecting the value oi stock, bonds, or other evidences of debt, or as to the financial conditions of transactions, or facts affecting such condition or truli: actinn, 01 such corporation if it has issued or is to issue stocks, bonds. or uthier evidences of debt, whenever he knows or has reason to believe that any material representation in such statement or advertisement is ia se. No stockholder, director, officer, employee, or agent of a China Trade Act Corporation shall, if all the authorized capital stock thereoi has not been paid in, makt, issue, or publish any written statement or advertisement, in any form, stating the amount of the authorized capital stock without also stating as the amount actually paid in, a sum not greater than the amount paid in. Any person violating any provisions of this section shals, upon conviction thereot, be fined not more than $5,000 or imprisoned not more than ten years, or both.

SLC 19. No individual, partnership, or association, or corporation not incorporated under this Act or under a law of the United States, shall engage in business within China under a name in connection with which the legend “ Federal Inc. l'. S. A.” is used. Any person violating this section shall upon conviction thereof be fined not more than $1,000 for each violation.

JURISDICTION OF SUITS AGAINST CORPORATION SEC. 20. That the Federal district courts shall have exclusive original jurisdiction of all suits (except as provided by the Act entitled “ An Act creating a L'nited States Court for China and prescribing the jurisdiction ther of,” approved June 30, 1000, as amended) to which a China Trade Act corporation, or a stockholder, director, or officer thereof in his capacity as such, is a party. Suit against the corporation may be brought in the United States Court for China, or in the Supreme Court of the District of Columbia, or in the Federal district court for any district in which the corporation has an agent and is engaged in doing business.

FEDERAL TAXATION Sec. 21. Title II of the Revenue Act of 1921 is amended by adding at the end thereof a new section to read as follows:

CHINA TRADE ACT CORPORATIONS

“ SEC. 264. (a) That for the purpose only of the tax imposed by section 230 there shall be allowed, in the case of a corporation organized under the China Trade Act, 1922, a credit of an amount equal to the proportion of

the net income derived from sources within China (determined in a similar manner to that provided in section 217) which the par value of the shares of stock of the corporation owned on the last day of the taxable year by individual citizens of the United States or China, resident in China, bears to the par value of the whole number of shares of stock of the corporation outstanding on such date; Provided, That in no case shall the amount by which the tax imposed by section 230 is diminished by reason of such credit exceed the amount of the special dividend certified under the subdivision (b) of this section.

“(b) Such credit shall not be allowed unless the Secretary of Commerce has certified to the Commissioner (1) the amount which during the year ending on the date of filing the return, the corporation has distributed as a special dividend to or for the benefit of such individuals as on the last day of the taxable year were citizens of the United States or China, resident in China, and owned shares of stock of the corporation, (2) that such special dividend was in addition to all other amounts, payable or to be payable to such individuals or for their benefit, by reason of their interest in the corporation, and (3) that such distribution has been made to or for the benefit of such individuals in proportion to the par value of the shares of stock of the corporation owned by each; except that if the corporation has more than one class of stock, the certificate shall contain a statement that the articles of incorporation provide a method for the apportionment of such special dividend among such individuals, and that the amount certified has been distributed in accordance with the method so provided.

"(c) For the purposes of this section shares of stock of a corporation shall be considered to be owned by the person in whom the equitable right to the income from such shares is in good faith vested.

“(d) As used in this section the term 'China'shall have the same meaning as when used in the China Trade Act, 1922."

SEC. 22. Subdivision (b) of section 230 of the Revenue Act of 1921 is amended to read as follows:

“(b) For each calendar year thereafter, 127/2 per centum of the amount of the net income in excess of the credits provided in sections 236 and 264."

SEC. 23. Subdivision (f) of Section 238 of the Revenue Act of 1921 is amended by adding after the figures “ 262" the word and figures or 264."

SEC. 24. Subdivision (c) of section 240 of the Revenue Act of 1921 is amended by adding at the end thereof a new sentence to read as follows: “A corporation organized under the China Trade Act, 1922, shall not be deemed to be affiliated with any other corporation within the meaning of this section.”

SEC. 25. That section 2 of the Revenue Act of 1921 is amended by adding at the end thereof a new paragraph to read as follows:

“(12) A corporation under the China Trade Act, 1922, shall, for the purposes of this Act, be considered a domestic corporation.”

Sec. 26. Subdivision (b) of section 213 of the Revenue Act of 1921 is amended by striking out the period at the end of paragraph (12) thereof and inserting in lieu thereof a semicolon, and by adding after paragraph (12) a new paragraph to read as follows:

"(13) In the case of an individual, amounts distributed as dividends to or for his benefit by a corporation organized under the China Trade Act, 1922, if, at the time of such distribution, he is a citizen of China resident

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therein and the equitable right to the income of the shares of stock of the corporation is in good faith vested in him."

SEC. 27. Subdivision (a) of section 216, paragraph (6) of subdivision (a) of section 234, and paragraph (3) of subdivision (a) of section 245, of the Revenue Act of 1921, are amended by inserting in each after the word and figures" section 262” a comma and the words “and other than a corporation organized under the China Trade Act, 1922."

RESERVATION OF RIGHT TO AMEND

Sec. 28. The Congress of the United States reserves the right to alter, amend, or repeal any provision of this act.

1922—Act of September 22, 1922 (42 Stat. L., 1028)-An Act To

give effect to certain provisions of conventions with foreign Governments for facilitating the work of travel

ing salesmen. WHEREAS, The United States has entered into conventions with the Governments of Uruguay, Guatemala, Salvador, Panama, and Venezuela which were signed on August 27, 1918, December 3, 1918, January 28, 1919, February 8, 1919, and July 3, 1919, respectively, for facilitating the work of traveling salesmen; and

WHEREAS, Articles I and II of each of said conventions read as follows:

“Article I. Manufacturers, merchants, and traders domiciled within the jurisdiction of one of the high contracting parties may operate as commercial travelers either personally or by means of agents or employees within the jurisdiction of the other high contracting party on obtaining from the latter, upon payment of a single fee, a license which shall be valid throughout its entire territorial jurisdiction.

“In case either of the high contracting parties shall be engaged in war, it reserves to itself the right to prevent from operating within its jurisdiction under the provisions of this treaty, or otherwise, enemy nationals or other aliens whose presence it may consider prejudicial to public order and national safety.

"Art. II. In order to secure the license above mentioned the applicant must obtain from the country of domicile of the manufacturers, merchants, and traders represented a certificate attesting his character as commercial traveler. This certificate, which shall be issued by the authority to be designated in each country for the purpose, shall be viséed by the consul of the country in which the applicant proposes to operate, and the authorities of the latter shall, upon the presentation of such certificate, issue to the applicant the national license as provided in Article 1."

Now, therefore,

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of Commerce, or any other person in the Department of Commerce designated by him, is hereby authorized to issue the licenses and certificates of identification which are provided for by the said Articles I and II, respectively, of the said conventions, or which may be provided for by similar articles in any convention or treaty that may hereafter be concluded by the United States with a foreign Government, and is further authorized to collect a reasonable fee for each license and certificate of identification issued. The amount of such fee shall be fixed by regulations made by the Secretary of Commerce and shall be paid into the Treasury of the United States quarterly.

1923-Act of January 5, 1923 (42 Stat. L., 1109)-An Act To

consolidate the work of collecting, compiling, and publishing statistics of the foreign commerce of the United

States in the Department of Commerce. [Sec. 1.] That the control and with it the expense of operation of the office known as the Bureau of Customs Statistics under the jurisdiction of the Department of the Treasury, now located in the customhouse, city of New York, State of New York, including all officers, clerks, and other employees of that bureau, official records, papers, mechanical and office equipment, furniture, and supplies now in use, be, and the same hereby is, transferred from the Department of the Treasury to the Department of Commerce. The Secretary of Commerce is hereby authorized, if by him deemed advisable, to consolidate the said Bureau of Customs Statistics with the Division of Statistics of the Bureau of Foreign and Domestic Commerce into one office, located in either Washington or New York, or partly in either place, in the discretion of the Secretary of Commerce; that the statistical bureau hereby authorized to be located in New York under the jurisdiction and control of the Department of Commerce continue to occupy the premises in the New York customhouse which are now occupied by the Bureau of Customs Statistics, and that additional space as needed be assigned in the same building for its use by the Secretary of the Treasury upon request of the Secretary of Commerce. All of the unexpended appropriations or allotments from appropriations available for the maintenance and expense of operation of the said Bureau of Customs Statistics are, from the time when this Act takes effect, deducted from the appropriation of the Department of the Treasury for collecting revenue from customs and transferred to the appropriations for the Department of Commerce, to be available for the current fiscal year from the time of such transfer for expenditure in the District of Columbia or elsewhere, under the direction of the Secretary of Commerce, for personal services, rental, or purchase of mechanical, tabulating, duplicating, and other office machinery, devices, furniture, and supplies, including their exchange or repair; subsistence, traveling, and transportation expenses of employees for official purposes; telegraph, telephone, and all other contingent expenses not specifically included in the foregoing.

SEC. 2. That the Department of Commerce will furnish monthly to the collectors at the several ports a tabulation in detail showing the quantities and values of the merchandise imported and exported from their respective districts, and will furnish the Treasury Department upon request such special reports as may be necessary from time to time.

SEC. 3. That this Act shall take effect and be in force on the ist day of January, 1923.