The advocate., 1890-03-06

DaccO ~ received DY him on deposit 1H above
provided, 10 give a warehouse receipt show
ing tho amount and grade or quality OF such
cotton, tobacco, or grain, and lbs value al
date OF deposit; the amount Of treasury notes
tho sub-tgeamry has advanced on tho pro-
duct; that tho interost on tho money 80 ad-
vanced Is at tho rate Of per centum per an
NUM- expressly stating tho amount Of ingur-
ancg, weighing, chasing, Warohousing, and
other cihng0s that will run against such de-
post Of cotton, gFainj or tobacco. All such
warehouse receipts shall bo negotiable by
endorsement.
s6o. 8. That the cotton, grain or tobacco
deposited In the sub-treasury under the pro-
visions Of ths act may be redeemed by the
holder Of tho warehouse receipt herein pro-
vded for, either Gt the sub-treasury ia
which tho product Is dePOsited, or at any
other sub-treasuFy, by the surrender OF such
warehouse receipt and the payment in law
ful money OF tho United States Of the same
amount originally advanced by the sub
treasury against the product, and such fur
thor amount as may DO necessary 10 dis
charge an interest that may have accrued
against the advance of money made on the
deposit Of produce and oil insurance, ware-
house and other charges that attach to the
product for warehousing and handling. All
lawful money received at the sub-treasury
as O return Of the actual amount>of money
advanced by the Government against farm
products as above specified, shall be return
cd, with full report Of the transaction, TO
tho Secretary Of the Treasury, who shall
make q record of Che transaction and cancel
and destroy the money 30 returned. A sub
treasury that receives warehouse receipt as
above provided, together with the return Of
the proper amount Of lawful money and all
charges as herein provided, when the pro-
duct for which II 10 given is stored in some
other sub treasury, shall give an order on
such other sub-treagiry for the delivery Of
the cotton, grain OF tobacco, as the case may
bo, and the Secretary of the Treasury shall
provide foE the adjustment between sub
treasuries OF all charges.
Sec. 7: The Secretary Of the Treasury
shall prescribe such rules and regulations as
are necessary for governing the details Of
the management of the sub-treasuries, fixing
the salary, bond and responsibility Of each
of the managers of sub-treasuries (proyided
that the salary of any manager OF a sub
treasury shall not exceed the sum of $l,5OO
per annum), holding the managers Of sub
treasures personally responsible on their
bonds for weights and ClassifCations Of oil
produce, providing for the rejection of un-
merchantable grades Of cotton, grain or to-
bacco, or for such as may be in bad condi-
tion; and shall provide rules for the sale at
public auction OF all cotton, corn, oats,
wheat or tobacco that has been placed on
deposit for longer period than twelve
months after due notice published. The
proceeds of the sale Of such product shall be
applied, arst, 90 the reimbursement TO the
pib-treasury Of the amount originally adj
vanced, together with all charges; and, sec
ond the balance shall beheld on deposit for
the benefit Of the holder Of the warehouse
receipt, who shall be entitled to receive the
same on che surrender of his warehouse re-
ceipt. The Secretary Of the Treasury shall
also provide rules for the duplication of any
papers in case Of loss or destruction.
SEC. s. II shall be the duty Of the Secre-
tary of the Treasury, when section of this
act shall have been complied with, to cause
to be erected, according to the laws and GUS
toms governing the construction of Govern
ment buildings, a suitable sub-treasury
building, with such warehouse or elevator
facilities as the character and amount Of the