Communications submitted by-Continued O'Rourke, Hugh F., executive secretary, Boston Fisheries Associa- Richards, Ralph A., executive vice president, Alabama Fisheries Richardson, Wm., manager, Pacific Fishermen, Inc., letter dated Wade, Hugh J., secretary of state, State of Alaska, letter dated March Text of H.R. 505. HAWAIIAN NENE GOOSE Inouye, Hon. Daniel K., a U.S. Senator from the State of Hawaii- Matsunaga, Hon. Spark M., a Representative in Congress from the Mink, Hon. Patsy T., a Representative in Congress from the State of Parker, Lansing A., Associate Director, Bureau of Sport Fisheries and 40 36 Communications submitted by- Burns, Hon. John A., Governor, State of Hawaii, letter dated May 24, Edwards, Max N., assistant to the Secretary, Interior Department, Anderson, Dr. R. J., Deputy Administrator, Agricultural Research Service, Department of Agriculture. Cain, Dr. Stanley A., Assistant Secretary of the Interior for Fish and Callison, Charles H., assistant to the president, National Audubon Etter, Alfred G., field representative, Defenders of Wildlife- Parker, Lansing A., Bureau of Sport Fisheries and Wildlife, Interior Poole, Daniel A., secretary, Wildlife Management Institute_- Robertson, George, Office of the General Counsel, Department of 113 112 76 Smith, Dr. Roland, Bureau of Commercial Fisheries, Department of 76 Additional material supplied by the Interior Department re changes to Cain, Stanley A., Assistant Secretary for Fish and Wildlife and Parks, 87 Gutermuth, C. R., Wildlife Management Institute.. Harris, Mary Hazell, executive secretary, Defenders of Wildlife - Kimball, Thomas L., executive director, National Wildlife Federation_ Merritt, Clifton R., director of field services, the Wilderness Society.. Parker, Lansing A., Associate Director, Bureau of Sport Fisheries Poole, Daniel A., secretary, Wildlife Management Institute__ Smith, Dr. Spencer M., Jr., secretary, Citizens Committee on Natural Communications submitted by-Continued Dingell, Hon. John D., a Representative in Congress from the State of Michigan, letter dated August 24, 1965, in reply to letter from Douglas, Philip A., executive secretary, Sport Fishing Institute, letter Interior Department, letter dated July 19, 1965, signed by Max N. Communications submitted by- C. H. C. of the National Audubon Society to R. C. C. dated April 14, 191 Davis, John M., of Reno, Nev., to Mr. Callison dated April 16, 1965- Dingell, Hon. John D., letter to Interior Secretary Cain requesting Cain, Hon. Stanley A., letter dated August 27, 1965, enclosing Packard, Christopher M., director, Portland Society of Natural His- tory and Maine Audubon Society, letters to Mr. Callison dated- Ryser, Fred A., Jr., associate professor of biology, University of 192 Smith, Mildred, president, San Bernardino Valley Audubon Society, 194 MISCELLANEOUS FISHERIES AND WILDLIFE LEGISLATION-1965 FISHERIES LOANS THURSDAY, MAY 27, 1965 HOUSE OF REPRESENTATIVES, SUBCOMMITTEE ON FISHERIES AND WILDLIFE CONSERVATION Washington, D.O. The subcommittee met at 10:50 a.m., pursuant to call, in room 1334, Longworth House Office Building, Hon. T. A. Thompson (chairman of the subcommittee) presiding. Mr. THOMPSON. This morning, the Subcommittee on Fisheries and Wildlife Conservation will consider several bills having to do with the making of loans to fishermen for the purpose of financing operations, maintenance, replacement, repair, and equipment of fishing vessels and gear. The Fisheries Loan Act, which was enacted in 1956 and expires next month, has been most helpful in upgrading and modernizing our fishing industry by providing financial assistance to an industry that until enactment of the 1956 act had not been able to obtain such assistance. The bills to be heard this morning are identical and they are: H.R. 4227, by Mr. Bonner; H.R. 5153, by Mr. Rivers; H.R. 6090, by Mr. O'Neill; H.R. 6101, by Mr. Tupper; H.R. 6362, by Mr. Keith; H.R. 6921, by Mr. Bates. (The bills and agency reports follow :) [H.R. 4227, H.R. 5153, H.R. 6090, H.R. 6101, H.R. 6362, H.R. 6921, 89th Cong., 1st sess.] BILLS To extend the term during which the Secretary of the Interior is authorized to make fisheries loans under the Fish and Wildlife Act of 1956, and for other purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 4 (b) (1) of the Fish and Wildlife Act of 1956 (70 Stat. 1121), as amended (16 U.S.C. 742c (b) (1)), is amended to read as follows: "(1) Bear an interest rate of not less than (1) a rate determined by the Secretary of the Treasury, taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity, plus (2) such additional charge, if any, toward covering other costs of the program as the Secretary may determine to be consistent with its purpose." SEC. 2. Section 4 (c) of the Fish and Wildlife Act of 1956 (70 Stat. 1121), as amended (16 U.S.C. 742c (c)), is amended to read as follows: "(c) There is created a fisheries loan fund, which shall be used by the Secretary as a revolving funds to make loans for financing and refinancing under this 1 section. Any funds received by the Secretary on or before June 30, 1975, in payment of principal or interest on any loans so made shall be deposited in the fund and be available for making additional loans under this section. The Secretary shall pay from the funds into miscellaneous receipts of the Treasury, at the close of each fiscal year, interest on the total loans outstanding at the close of such year at a rate determined by the Secretary of the Treasury, taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity during the last month of the preceding fiscal year. Interest payments may be deferred with the approval of the Secretary of the Treasury, but any interest payments so deferred shall themselves bear interest. Any funds received in the fisheries loan fund after June 30, 1975, and any balance remaining therein at the close of June 30, 1975 (at which time the funds shall cease to exist), shall be covered into the Treasury as miscellaneous receipts. There is authorized to be appropriated to the fisheries loan fund the sum of $20,000,000 to provide initial capital." DEPARTMENT OF THE INTERIOR, OFFICE OF THE SECRETARY, Washington, D.C., January 25, 1965. Hon. JOHN W. MCCORMACK, Speaker of the House of Representatives, DEAR MR. SPEAKER: There is enclosed a draft of a proposed bill to extend the term during which the Secretary of the Interior is authorized to make fisheries loans under the Fish and Wildlife Act of 1956, and for other purposes. We request that this proposal be referred to the appropriate committee for consideration, and we recommend that it be enacted. Section 4 of the Fish and Wildlife Act of 1956, as amended (16 U.S.C. sec. 742c) authorizes the Secretary of the Interior to make loans for the purposes of financing and refinancing the operations of commercial fishing vessels and the maintenance, repair, and replacement of such vessels and their gear. It also is intended to be used for research into the basic problems of the fisheries. The authority to make these loans is limited to situations where there is evidence that the applicant was otherwise unable to obtain financial assistance on reasonable terms. The objective of the program is to provide financial assistance to the commercial fishing industry for the purposes of upgrading or modernizing our fishing vessels and gear and thereby contributing to more efficient and profitable commercial fishing operations. In order to carry out this program, a fisheries loan fund was established as a revolving fund. The fund initially had an authorization of $10 million, but this was increased in 1958 to $20 million. A total of $13 million has actually been appropriated to the fund. The fund, however, will expire on June 30, 1965, unless extended by this proposal. The program was initiated because long-term credit was generally not available to fishing vessel operators. The relative success of the program has encouraged a few banks to reenter the field of fishing vessel financing in the case of vessel owners having exceptionally good credit rating. Bank financing on reasonable terms, however, is still not available to many fishermen because of the hazardous nature of the fishery. These lending institutions are generally not familiar with the problems of the industry and are unwilling to take the risks involved in long-term financing of fishing vessels and equipment. This program has filled this credit gap. It has enabled our fishermen to obtain this needed financing and to continue operating their vessels. We strongly believe it should be extended. U.S. fishermen are in constant competition with foreign fishermen for fish at fishing grounds where traditionally American vessels have, until recently, almost exclusively operated, and for markets in the United States. Imports constiLute an increasing percentage of the total supply of fish marketed in this country. This dual impact on our fisheries has increased the need for reasonable long-term financing for fishing vessels and gear. Under the circumstances, we believe that our domestic fishing fleet should be given this assistance where possible in meeting such competition. The extension of this worthwhile program, as provided in the enclosed proposal, will continue to help many fishing vessels stay in operation. As of July 31, 1964, the fisheries loan fund has provided needed financing for the replacement of 142 fishing vessels, the conversion of 25 vessels to purse |