The Coconino weekly sun., 1894-03-29
ANTI-OPTlON BILL.
Provisions of the Measure as Finally Agreed Upon by the House Committee on Ags riculture.

I Provisions or bne NtehbuT0 IN auhIy hETcco
 Upon by the House Committee on Ags
 riculture.
 | WASHINGTON, March 24.-The house committee on agriculture has com pleted its consideration of the anti ', option bill and authorized it to be re- ported to the house in the amended form agreed upon. As agreed upon the bill provides that "option" contracts and every future" contract shall have affixed thereto internal revenue stamps representing taxes as follows: For every 10000 pounds of cotton, hops, pork, lard, bacon, dried, salt and pickled meats, cent and every LOGO bushels of wheat and other grains 1 cent Every cancellation, clearance, aquittance, contango, privi- lege, waver, or other agreement by which the options or future is termi- mated otherwise than by actual sale and delivery, or such termination is de- layed or obviated, shall have affixed thereto internal revenue stamps repre- senting taxes as follows:
 For every pound of raw or unmanu- factured cotton, hops, pork, lard and bacon, cent a pound; for every bushel of wheat cents and for every bushel of corn, oats, rye and barley cents.
 Another amendment was adopted by which d person engaged in the busi- ness may move from any state to an- other on notice to the collector of the district in which his business is carried on. The notice to collector must state the principal place where business is carried on. This amendment was i adopted to meet the objections of the southern members who represent con- stituents dealing in cotton who move | frequently from place to place and who would not be able to conveniently furnish penalty bond for the observ- ance of law in each.
 Every bill of sale executed at the ' termination of contract is to have af- | fixed thereto ? cent, internal rev enue stamp Tke special tax on deals CTS option and futures is fixed at SIP, instead of s24, as originally proposed, and the penal bond required to be fur nshed is fixed at sS,OOO, instead of slO,OOO.
 In the first section, which defines op- ! tions, the bill has been amended so as 1 to apply to ''any person as vendee for whom, or in whose behalf. such con- tract is made" as we'll as to the party acquiring the right to sell or deliver to { another at a future time, or within 1 designated month or other period. The same modification as to the time | limit was made with regard to flu ture" contracts Dry salted meat and pickled meats are added to the i list of articles to which the bill is to apply, and flour is dropped therefrom. All options and future contracts and transfers and as- arguments thereof are to be in writing and signed in duplicate by the parties thereto and every options contract is to state in explicit terms the time, the right, or privilege of delivering, OF the right of delivering the articles named therein shall expire, and every future contract is to state in explicit terms the quantity and the day upon which or the last day of the period w.Uhin which the articles contracted to be sold shall be delivered.
 In each such contract the party con tracting, or the party for whom he acts as agent, etc, shall state explicitly whether he is or is not the owner of the article or articles contracted to be sold and delivered, or has or has not there tofore acquired it or them by purchase, or is not then entitled to the rights of the future possession of such articles AY,vy nh aA .1. such statements, and not so made and signed, shall be unlawful Dealers are required t0 keep book for recording on the day of it's execution the date of option and future cont racts, those which may be trans. ferred or assigned by such dealers, and all other information incident thereto, which book is to be subject to inspec- tion by the revenue officers Monthly returns are to be made by revenue col. lectors, who, in return, at stated peri ods, are to make reports to the commis- sioner of internal revenue. Provision is made for the preparation of suitable stamps denoting taxes required by the act to be paid herewith and for pun ishiDg counterfeiters thereof. Persons violating the provisions of the act are to be liable to fine or imprisonment in addition to the taxes prescribed in the act
 There were twelve members of the committee present, and Chairman Hatch said there were but two negative votes on the bill, those of the members from New Hampshire and Massachusetts All the absent members, he said, were in favor of the bill
 LEFT TO THE JUDGE.