The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1897-12-15
CONCERNING COTTON.
a Plan 20 Abolish Gambling in Eu-

turss.
The following is the full text Of
Representative StoKes's bill which
will be introduced By him At an early
day:
\ Bill to Abolish Gambling in Cotton
Futures and Others Agricultural
Products.
Section l. From and sfter the pass
age Of this act, it snail be unlawful
for any individual, Or corporation or
association to engage in gambling ope-
rations whose tendency is to affect ar
tifciaily the market price OF cotton CT
other agricultural products.
SEC 2. Fer toe purposes Of this ac5,
gambling operations include all con
tracts for purchase aDd sale, common
y known as futures. il which tn
tender acd delivery OF tbs actual com-
modify nsmed IN tae contract IS not
made.
Sec. 3. Each contract for future de
livery OF cotton. corn, wheat, and oats
SHALL relate TO one grade Only and all
sucn coatrscts snail specify the
amount aGd grade contracted for, and
20 tender oi different grade from
that named IN the conf:sc: saal! be 2
legal tender.
Sec. ( Any per3on or corporation CT
association, their agents, representa-
tivss or officers. violating any OF ne
provisions OF this acr, shall upon con.
Yiction there Of be fnsd IN Q SUN noj
less than 81, eco for each oifeHss, ore.
hall OF which ise shall De paid to TIE
informant; or Imprisoned fer not less
than SIX months, orboth fined 2nG im.
prisoned in the direction of the court;
Provided, That il addition 10 said
EGe and imprisonment. any person
rho has suffered ipjay oy reason OF
such unlawful operations may recover
damages III any cour. CT competent
! Jurisdiction.
! Sec. ). al c:.s and parts of sets IN
consistent via he Crovi>ioGs OF this
act are hereby repealed.
! Dr.. Stokes vas seen wednesday al.
! terDocn efler Tie adjournment Of taf
rouse, at his room at the metropolitan
Hotel aDd made tae following stale
ment in reference taereto:
The purpose OF this bill IS plain
and its provisions il enacted into law
will do ell that legislation can do &c
ward the end IN view.
Il have made g close study OF thE
! problem since the cotton growers con
| vent;on met in Columbia last month
and appointed ne delegate at Large
from my stare to the interstate cottor
growers convention called to meet II
Atlanta on the 14lh inst. At TIA:
meeting, l will present plan OF co
ioperation among cotton growers thai
will give them control Of the spo
market. This bill will wipe Gu! the
gambling marke: and leave the pro
ducers of cotton in position to contro
the price OF their product within
reasonable limits. It's needless to say
that under the provisions OF the bill
the same remedies nay be applied
! last as effectually to all other agri
cultural products-corn. wheat, oats,
etc. I speak Of cotton specifically be
cause my people ara mostly INTERESTED
! in It.
The section OF tue bill requiring
each contract to relate to one grad
only will OF itself revolutioniz9 tn:
transaction on the cotton exchange
| Under the existing rul-s tie seller O.
| futures can deliver any grade fron
good ordinary to fair. This shuts ou
| spianers ard acsaa: buyers OF actual
i cotton, practically, from the cotton ex
change. because the spinner wnea n
! buys cotton wants to by certair
grsde.
'It We compel the delivery o; the
grade specified, then spinners car
| have showing on the exchanges
81 repeat; the bill will give the re-
! lief the farmers need, il IL become G.
ilaw; and i! will become la1 il INK
farmers demand it. -