Executive Order 10539—Providing for the Administration of Functions Respecting Rubber, Tin, and Abaca Heretofore Administered by the Reconstruction Finance Corporation

By virtue of the authority vested in me by the Rubber Act of 1948 (62 Stat. 101), as amended (50 U.S.C. App. 1921, et seq.), the joint resolution of June 28, 1947, 61 Stat. 190, as amended, the Abaca Production Act of 1950 (64 Stat. 435; 50 U.S.C. 541, et seq.), section 107 (a) (1) of the Reconstruction Finance Corporation Liquidation Act, 67 Stat. 231, and section 301 of title 3 of the United States Code, it is hereby ordered as follows:

SECTION 1. The Secretary of the Treasury is hereby authorized and directed to cause to be organized a corporation under the authority and subject to the provisions of section 10 of the Rubber Act of 1948, 62 Stat. 105, as amended, 50 U.S.C. App. 1929. The said corporation shall be known as the Federal Facilities Corporation.

SEC. 2. Executive Order No. 9942 of April 1, 1948 (13 F. R. 1823), providing for the performance of certain functions under the Rubber Act of 1948, is hereby amended by deleting from sections 2 and 3 thereof the words "Reconstruction Finance Corporation" and inserting in lieu thereof, in each case, the words "Federal Facilities Corporation."

SEC. 3. The Federal Facilities Corporation is hereby designated as the instrumentality of the United States which shall perform and exercise the functions heretofore performed and exercised by the Reconstruction Finance Corporation under the said joint resolution of June 28, 1947, as amended.

SEC. 4. (a) All functions vested in the President by the said Abaca Production Act of 1950 shall be performed and exercised through the General Services Administration, except the functions of the President under section 3 (a) of the said act (with respect to directing increases or reductions of acreage) and his functions under subsections (c) and (d) of section 4 of the said act (50 U.S.C. 542 (a); 543 (c); 543 (d)).

(b) The letter of the President to the Chairman of the Board of Directors of the Reconstruction Finance Corporation of August 10, 1950, relating to abaca, is superseded by the provisions of subsection (a) of this section.

SEC. 5. The Director of the Bureau of the Budget shall carry out the provisions of section 10 (d) of the Rubber Act of 1948, as amended (50 U.S.C. App. 1929 (d)), section 4 (d) of the Abaca Production Act of 1950 (53 U.S.C. 543 (d)), and section 107 (b) of the Reconstruction Finance Corporation Liquidation Act, as the said provisions relate to the provisions of sections 2, 3, and 4 of this order.

SEC. 6. As used in this order, the term "functions" shall be deemed to embrace powers, duties, responsibilities, authority, and discretion.

SEC. 7. The provisions of sections 2, 3, and 4 of this order shall become effective at the close of June 30, 1954, or at an earlier time fixed by the Secretary of the Treasury after consultation with the Director of the Bureau of the Budget. All other provisions hereof shall become effective immediately.

DWIGHT D. EISENHOWER

THE WHITE HOUSE,

June 22, 1954.