Pursuant to the authority vested in me by Commonwealth Act Numbered Three hundred seventy-eight, as amended by Commonwealth Act Numbered Four hundred twenty, I, Manuel L. Quezon, President of the Philippines, do hereby authorize the Rural Progress Administration created by Executive Order Numbered One hundred ninety-one, dated March second, nineteen hundred and thirty-nine, to organize itself into a corporation under the Corporation Law, with a capital of one million five hundred thousand pesos, and to exercise not only the general powers enjoyed by corporations under the Corporation Law, but also such powers and authority as are specified in said Executive Order Numbered One hundred ninety-one and those which the President may, from time to time, see fit to vest in it to enable it to carry out the purposes for which it has been created.

Done at the City of Manila, this thirty-first day of May, in the year of Our Lord, nineteen hundred and thirty-nine, and of the Commonwealth of the Philippines, the fourth.


By the President:

JORGE B. VARGAS
Secretary to the President