The midland journal. (Rising Sun, Md.) 1885-1947, 1892-01-15

( all the vital organs. III the liver De In.
active, you have bilious look, if your
stomach be disordered you have al
dyspeptic look and if your kidneys be
affected you have . pinched look.
Secure good health and you will have
good looks. Electric Bitters is the
great Alternative and tonic acts directly
on these vital organs Cures pimples,
blotches, boils and gives good COM
plexion. Sold at L. r. Kinks drug
store, Soc. per battle.
-4@et<
To Remedy Speculation in Futures.
"a bill defining options in futures
and imposing special taxes on dsalears
therein, and for other purposes has
been introduced into the Senate of the
United States by Dir. Washburne aud
i in the House by Representative w. II.
Hatch. 1t defines '.options' as mean.
ling any contract whereby q party
acquires the right or privilege, but is
not thereby obligated, to deliver to
another at future time or period,
wheat, corn, oats, barley, rye, cotton,
and all other farm products, also pork.
lard, beef, and all other meat products.
l.Futures" is defined to mean any agree
ment whereby party contracts to sell
and deliver at future time any Of
i these articles, when at the time of max
j ing such contract the maker is not the
owner of the article to be delivered
1t IS provided that this shall not apply
to contracts for the future delivery of
such articles to the United States or to
any State, county or municipality.
Neither is the proposed law to apply
to any farmers contract for the sale
and delivery at future time of such
articles, which are in actual course Of
production. ON land owned or occupied
T by such farmer at the time of meking
|, 4 the contract.
j The bill compels every dealer in
, options or futures to take out an inter-
!, nal revenue license at fee Of 81 900 a
year, and to pay tax Of FIVE cents per
pound for each and every pound of
cotton or Of pork, beef or other meat
products, and the sum Of twenty cents
per bushel for each and every bushel Of
, the other articles mentioned. Any
options or futures contract shall be alb
solutely void. unless the makers there
to comply with the law. The bill
provides for returns of all such tran
sactions to the Commissioner Of Inter
nal Revenue, and penalties Of not less
than $1,000 or more than $4,000 with
or without imprisonment Of not less
than thirty days or more than six
months. The bin further provides that
such license certi6catesh not exempt
any from the laws any State may make
regulating dealings in options or futures,
nor shall the payment of the internal
revenue taxes be held to prohibit any
State or municipality from placing .
tax or duty on the same transactions for
such municipal and other purposes.
The effect Of the measure, if enacted
into law, would be to tax such specula.
ton out Of existence. It is substan.
: TALLY the same measure that attracted
much attention in the last Congress,
under the name Of the "ButterWorth
bill.s
/ The way in which such speculation
Injuries the farmer best appears BY ex-
planning just how the traffic is con-
Quoted. Suppose that in August.
when wheat sold at SLIP per bushel in
Chicago, ga" offeored to sell "B"
5000 bushels of wheat at ninety five
cents, to be delivered any day in De-
cember that B preferred; that is, i
would have the option or right to call
for the wheat on any day between Dec
LIST and 3lst Suppose that wheat is
selling at ninety.six cents on Dec. 5th,
and b fears it will 60 lower. He
therefore closes the trade by calling on
A, not for 5000 bushels of wheat, bu,
for the one cent per bushel, or $50 10
all, that the price has advanced over
the figure be paid for the option in
August. On the other hand. had b
held off until Dec 10th, when wheat
sold at ninety cenls, and then closed
the trade, fearful of another decline,
be would be obliged to pay A the loss
Of five cents per bushel, or $3.50 in all.
rather than take the wheat which he
doesn't want. Hence AS object since