To the Congress of the United States:
Enclosed is the Annual Report of the St. Lawrence Seaway Development Corporation for the calendar year ending December 31, 1974. This is transmitted in accordance with the provisions of section 10 of the St. Lawrence Seaway Act (act of May 13, 1954).
It is interesting to note that, although traffic levels declined during the 1974 season, the Seaway Corporation nevertheless was able to continue its program and retire a portion of its outstanding debt.
GERALD R. FORD
The White House,
September 8, 1975.