Federal Register - February 15, 1955
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Source: Federal Register
REGISTER
FEDERAL
VOLUME 20
19 3 4 c f p O a/ i t 0
NUMBER 32
Washington, Tuesday, February 15, 1955
TITLE 7 AGRICULTURE
Chapter V Commodity Stabilization Service Surplus Property, Depart ment of Agriculture.
A nnouncem ent CN-480-1
P art 503H andling C otton U nder P ublic L aw 480
The regulations contained in this part relate to the handling of upland cotton under Public Law 480, 83d Congress, and supersede the announcement unpub lished of the same number issued on January 14, 1955.
Sec.
503.1
503.2
503.3
G eneral.
Stocks eligible for export.
M ethod of acq u isitio n s from CCC
stocks.
503.4 D ocu m en tatio n re acq u isitio n s of lo an stocks.
503.5 Sales of c o tto n from CCC owned stocks.
503.6 F in a n cia l arran g em en ts.
503.7 Officials n o t to benefit.
Authority : 503.1 to 503.7 issued u n d e r sec. 102, 68 S ta t. 454; 7 U. S. C. Sup. 1702;
E. O. 10560, 19 F. R. 5927. In te rp re t o r apply secs. 2, 101, 68 S ta t. 454; 7 U. S. C. Sup. 1691, 1701.
503.1 General, a Title I of the Agricultural Trade Development and Assistance Act of 1954, Public Law 480, 83d Congress hereinafter referred to as the act, authorizes the negotiation of agreements with friendly nations to pro vide for the sale of surplus agricultural commodities for foreign currency. The act provides th at Commodity Credit Corporation hereinafter referred to as CCC shall make available for sale surplus agricultural commodities ac quired by CCC in its price support opera tions and shall make -funds available to finance the sale and exportation of sur plus agricultural commodities owned by CCC or pledged or mortgaged to it for price support loans or from privately owned stocks if CCC is not in position to supply the commodity from its owned stocks. The act further provides that, to facilitate th evuse of private trade channels, CCC may finance the sale and exportation of privately owned stocks even though it is in position to supply the commodity, if arrangements are made whereby the exporten acquires the same commodity of comparable value or quantity from CCC stocks.
b The Secretary of Agriculture has issued Regulations Governing the Fi nancing of Commercial Sales of Surplus Agricultural Commodities for Foreign Currencies Part 11 of this title; 19 F. R.
7526 hereinafter referred to as the Regulations. From time to time agreements will be entered into between the United States and foreign govern ments covering specific surplus, agricul tural commodities including upland cotton. When such an agreement is reached, the Foreign Agricultural Serv ice of the Department of Agriculture hereinafter referred to as FAS will isse a Form 480-A Authorization cover ing each commodity. As authorizations are issued, press releases giving infor mation necessary to enable exporters to initiate negotiations for sales will be is sued.
c This announcement and the ap plicable announcement covering the sale of CCC owned cotton, together with the Regulations and the applicable Form 480-A Authorization, contain the terms and conditions under which upland cot ton will be handled under the act.
d Inquiries relating to the financing of export sales under the program; re quired documentation, and to the acqui sition of CCC stocks of cotton for export or as replacements for privately owned cotton should be directed to the CSS
Commodity Office, Wirth Building, 120
Marais Street, New Orleans 16, Louisi ana hereinafter referred to as the New Orleans Office.
503.2 Stocks eligible for export.
CCC is in a position to supply cotton from its owned stocks and also from loan stocks. Accordingly, an exporter who enters into a sales contract for the exportation of cotton under a Form 480-A Authorization must export against such sale either 1 cotton acquired from CCC owned or loan stocks, or 2 pri vately owned stocks of cotton, in which event the exporter must, within the period specified in 503.3, acquire from CCC stocks the number of bales of cotton covered by the export sales con tract. During the period January 1
through July 31 of any marketing year, such acquisition may be made from both loan stocks and stocks owned by CCC.
503.3 Method of acquisitions from CCC stocks, a Cotton from CCC
C o n tin u e d o n n e x t page
CONTENTS
Agriculture Department
See Commodity Service.
Pae
Stabilization
Army Department
Notices:
O rganization an d functions; d e scrip tio n of c e n tra l and field
agencies_________ :---------
962
Civil Aeronautics Administra tion v
Rules and regulations:
Standard instrument approach procedures; procedure alter ations-------------------------
947
Commerce Department
See Civil Aeronautics Admin istration.
Commodity Stabilization Service
Proposed rule making:
Sugar quota for mainland cane sugar area 1955; hearing on proposed allotment-----------Rules and regulations:
Cotton, handling of under Pub lic Law 480 .------------------Peanuts; marketing quota regu lations for 1954 crop---------
961
943
946
Defense Department
See Army Department.
Federal Power Commission
Notices:
Hearings, etc. :
Armer, M. B., and Armer Drilling Co-------------------El Paso Natural Gas Co--Humble Oil &RefiningCo _
Natural Gas Pipeline Co. of America et al-----------------
964
963
964
964
Food and Drug Administration
Rules and regulations:
S treptom ycin or dihy d ro strep -
tomycin and drugs contain ing those substances; miscel laneous amendments;
correction___ :---------- -----
959
General Services Administration
Notices:
Purchases under domestic pur chase regulations, quarterly report of_________________
Rules and regulations:
Mica regulation: Purchase pro grams for domestic mica;
prices and payment-----------Interior Department
See Land Management Bureau.
943
963
946