The times., 1898-01-15
ANOTHER AhTI-OPTION BILL
Introduced i'm the House by Mr..
Sullivan.
1t Prohibits and Makes Penal Dea /
ing ia Futures-The Hatch
Measure Recalled.

"a bill TO prevent and make penal
dealing in futures was introduced in the
House yesterday by Mr.. Sullivan, of the
Seconn mississippi district. II follows the
same lines substantially as the old Hatch
anti-option bill, which failed CT passage
few years ago.
The text is as follows;
BE it enacted by the Senate and House
oil Representatives. OF the tniteu States
OF America IN Congress assembled:
SecIon THAI Inc woru futures as
uN@u III tliIS act snall mean Il CoI.tracu
whereby party or parties, artiiicia or
nal,4rdi, agrce 10 Sell 10 another, or otuerS,
AT lBturc tine, any of Ine articles men
Toned herein, when at tie unle OF the
making ol the contract the party or parties,
- agreeing 10 Sell or deliver, or The party
Oh p.rrn-s Tor " wnonI suciI one acts agent,
broker' or eihpIoye IN making such contract,
ls not lnS ON ilCf oI tie article so agreeu
10 be sold and delivered.
Secupn - mai tnIs act shall apply only
10 unfllanuta@tureu cotton, wheat, corn,
oats, pork, lara, and bacon.
occdJa nal AZ snaii ne tniawfni Ior
any Individual, natural or artificial, by
Whatever name KNOWN or uesignated Ell, TO
engage lli tne Dusitess OF buying OF selling
futures, as atsove hereinbefure set forth.
Section At shah be unlawful for any
l1i1St&ph or telephone company TO Trans
mt any lnSSs3Ee from Il person or corpora
u)n III oh,. state To a person or corporation
III another State or Territory, u District
oI Columbia III the mteu states, sug
geSuns, soliciting, or closing, con sum
.ldtlnE or executing, any contract Win
respect 10 futures, as aLove ueI Iineu.
Section DIT shall be unlawful TO mail
any letter. paper, or Otner lnlng transmit
Ting any information. suggestion, propo-
Sltlon or contract WIN respect To tu-
lures, from a EostCfficc at any point
~iJnin a state or 1errltory CT the DIs-
trlct of Columbia, TO any person, natural
or artificial, IN any ctner state or Terri
tory or the District Of Columbia such mail
matter being nereDy pronibIIeu. unuer the
penalty hereinafter prescribed.
Section sit snail be unIawfut for any
express company. ralirOad company, or
oUHer public carrier, TO carry transmit
or deliver or receive Ter sucn purpose, any
letter, pa acHage, message, oraef or agree
fnenu Tor the purchase, transfer or otner
disposition OF any Futures tas above de-
scrIbeul, from one point in any state or
Territory to another point IN state or
Territory, or from one point in tine Dis
triCs of Columbia TO any state OF Terri
tory.
section THAT any common carrier,
telegra ph company. telephone company,
railway company, express company or anY
utner person. natural or ARTIFICIAL, VINO
violates the provisions OF this act snail
he ina bic TO Il fine OF not less than $500
and not more than $4,000 for eacn Of
fense, upon trial ana conviction IN the
United states district court FOR the us
tricU in which sucn oTrense occurs, and
sUcn district courts are hereby clothed
with jurisdiction to try and determine
sucn cases as other criminal proceedings
are instituted. tried and determined in
said courts, and either the district court
Tor the district from which sucn com
munlcarioon was sent, Or the district court
Witfln winch district the communica ton
was received and executed. or for eNecu-
tlon, snail nave jurisdiction, at the option
OF the United states district attorney.
Section = Be II turtner enacted that, in
addition TO the penalty above provided any
person injured. the wife OF any man so
the law, or the husband of any
wife SO violating the law or The children or
creditor of either. having SO violated the
law, may sue and recover from any person,
money is paid as the purchase price of anv
future contract, twice the amount of the
sum 50 paid. together With costs of such
suit. and the fact that the future contract
has been wholly executed shall not be a
defense to such suit. but the person bring
ing such suit shall be entitled To recover
twice the sum of the whole amount 80 paid
by the person executing the future contract.
Section That any merchant. board of
exchange. or association, by whatever name
callsd. engaging in the business, or keeping
q place for the transaction or the business
known as dealing ia futures tand
W hiCh business is cCnde mnrd by the
foregoing prOvisionl, or If such person or
holds himself or itself out
10 the public as being ready aad willing
TO engage in the future business as
broker or otherwise, whether any contract
shall have been actually executed or not
shall toe subject to such prosecution and (
line as ii such merchant. exchange, or other /
had actually Sold and executed /
such contract, and the offering 50 to do .
shall be punishable rs If the contract had
actually been entered into. +
Section 1O-That this act be in force .
rom and after its passage.