Publisher's Synopsis
Excerpt from Annual Report of the Librarian of Congress: For the Fiscal Year Ending June 30, 1958
An act of Congress, approved March 3, 1925, as amended, created the Library of Congress Trust Fund Board, a quasi-corporation with perpetual succession and all the usual powers of a trustee, including the power to invest, reinvest, or retain invest ments and, specifically, the authority to accept, receive, hold, and administer such gifts, bequests, or devises of property for the benefit of, or in connection with, the Library, its collections, or its services, as may be approved by the Board and by the Joint Committee on the Library. (u. S. C. 2: 154 - 163) A notable provision of the act (section 2, last paragraph) permits endowment funds, up to a total limit of to be treated as a perpetual loan to the United States Treasury, at an assured interest of four percent per annum.
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