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iobo io tie Treasurer of the United States. for lhe use of the Secretary of the Navy. for the payment ofnayy and priyattt.r pe,, slons, anu for expenditures on acconnt of navy hospitals, et oetera and as soon as sald transfer and assignment shall he ihade, the said commissioners shall bo and They are here5y, released and die. charged from all further trust connected VI With said funds, and the Secretary of the Navy be, and lie is hereby, constituted the l trust ot sad funds; and as snch. ii shall De ms duty to receive applications for Pehslohss and to grant the same aceordinr to the terms of the acts of Congress in such case made and provided, aud to di- rect and control the expenditures out of the naval hospital fund.

 sec, /. .4Rd be a further enacted, That sae balance ofeash now on hand. and all monies that may hereafter arise to said pension funds from stocks redeemed. or rom any other source, shall hc inlnedi- a eiy invested, under tine direction of the secretary of the Navy, in the Bank stock ot the bank Of tAa United States. and shat the Secretary of the Treasury be, anu hereby IS, authorized to sell so moeh or the stock Of the United States in said baok, at the par value thereof, as said navy pension funds will pay for and to feeeiYe sad navy pension funds in nav aehl thereof; the said Bank stock to be aeld ID the name of the Treasurer of Che Gal3ea plates for the purposes aforesaid. . Sec ;. .35ia ie 4 further enacted. That : ne eeFetaii ei tiie fSaYy be, and he is hereiy, ahthorized and required to cause oooNs 10 ire opened, aHd regular acc 1unts 10 oe kept, showing the condition of the 0rfv

 celpts and expenditures thereof. thenanes ot me pensioners, and the dates and a. mount Of teir respective pensions. fb ,, statement q tiiis. act or acts of t..aaor5.es under whleli the same may be granted . aud that he shall annually report to Con. gress an abstract, showing the condition et these funds in all of these particulars. and the receipts and expenditures during the year; and cause similar account oI the receipts and expenditures of the navy hospitalfnad, to be kept and reported to Congress, annually, iIizIike manner. and at the same time, Witb the reports upon the pension funds.

 Sec. 1. .4fd be H jarfAer enacted. That the Secretary of the Navy shall be, and he IS hereby, authorized to appoint a ciarl5 who shall perform all the duties which sl aaIl De required ofhim in relation to said funds: and stall receive as a#ftlli compensation for his services, and ia lieu of ali cotnmis- sioils or other allowances. a salary of one thoasand SIX hundred dollars, to Dc paid gnarter-yearly out ofthe Treasury of the United Siafes

 Sec. 9. And te t fs,qtes. enacted That all the powers conferred. and duties im- posed by laws now in force, on the com nissioners of the uavy and privateer pen sion and navy hospital finds be, and tBey are hereby, transferred to the Secretary of the Navy and all acts, and parts ol acts, contrary the provisions ofthis act. be, and tlfey are here6y, repealed.

 Approved July 10, Is32. sI