...charter, Every charter made by the Administration pursuant to the provisions of the act shall provide: (!' Excess profits of charterer. That whenever, at the...section 5 of the act, the charterer shall deposit with the Administration a bond, in such amount as the Administration shall require but not less than $25,000,...

...ascertain its condition. (5) Books and accounts of charterer; Administration examination and audit. Thct the charterer shall keep its books and accounts relating...section 5 of the act, the charterer shall deposit with the Administration a bond, in such amount as the Administration shall require but not less than $25.000....

...books, p records and accounts. (6) Emergency termination of I charter. That whenever the President I shall proclaim that the security of the national defense...section 5 of the act, the charterer shall deposit with the Administration a bond, in such amount as the Administration shall require but not less than $25.000,...

...Clause and In Section P, Part II, hereof, the period of this Agreement shall be as follows: Provided, That whenever the President shall proclaim that the...emergency declared by proclamation of the President, or after a declaration of war or of national emergency made by the Congress, the Owner may terminate...

...Subdivisions (a) and (d) of this section, which are the only ones here pertinent, read as follows : (a) Whenever the President shall proclaim that the security...emergency declared by proclamation of the President, it shall be lawful for the Commission to requisition or purchase any vessel or other watercraft owned...

...Respondent's was the highest bid received, and on March 19, 1942, the Guthrie was sold to him for $2,875. He 1 "Whenever the President shall proclaim that the security...emergency declared by proclamation of the President, it shall be lawful for the Commission to requisition or purchase any vessel or other watercraft owned...

...providing that the owner of any vessel requisitioned by the Commission shall 1 Section 902 (a) provides: "Whenever the President shall proclaim that the security...emergency declared by proclamation of the President, it shall be lawful for the Commission to requisition or purchase any vessel or other watercraft owned...

...providing that the owner of any vessel requisitioned by the Commission shall 1 Section 902 (a) provides: "Whenever the President shall proclaim that the security...emergency declared by proclamation of the President, it shall be lawful for the Commission to requisition or purchase any vessel or other watercraft owned...

...Commission shall have the right to inspect the vessel at any and all times to ascertain its condition. (d) That whenever the President shall proclaim that the...advisable, or during any national emergency declared by proclama" Section 712 (d) was amended by the Act of August 7, 1939 (53 Stat. 1254). In the original...

...basic statute, section 902 (a) of the Merchant Marine Act of 1936, reads as follows: "Str. 102. (a) Whenever the' President shall proclaim that the security...emergency declared by proclamation of the President, it shall be lawful for the Commission to requisition or purchase any vessel or other watercraft owned...