2nd. For vessels having a speed of twenty statute miles or over, and less than twenty-one statute miles, per hour, four and one-half per cent.
3rd. For vessels having a speed of twenty-one statute miles or over, per hour, five per cent.
Provided. That such annual rental shall in no case exceed the sum of one hundred thousand dollars for any single vessel.
SECTION 4. The maximum price at which the United States will purchase such vessel, shall be fixed at the price approved as heretofore provided, by the Bureau of Naval Construction and Engineering, plus a bonus of not to exceed twenty-five per cent. of such price, to cover the outlay for passenger equipment, and as a compensation to the owners of such vessel for her withdrawal from her regular employment.
Such valuation shall govern until such vessel shall have attained the age of five years; and thereafter a deduction of six per cent. shall be made therefrom annually, to cover depreciation and wear and tear.
SECTION 5. In case the Secretary of the Navy shall elect to charter such vessel or vessels, instead of purchasing them, the rate to be paid therefor shall be five dollars per month per registered ton; such vessel to be at the risk of the United States during the pendency of such charter.
SECTION 6. This Act shall take effect immediately.