The Montgomery advertiser., 1905-02-17
SENATOR CLAY'S BILL
TEXT OF GEORGIAN's ANTI-BUCK-
 EFT SHOP MEASURE.
Return to the old Struggle Between American Farmer and the Man Whom He Regards as
 Gambler.
Advertiser Bureau.
 Colorado Building,


 Washington, Feh. 16.
 The anti-bucket shop bill, introduced by Senator Clay of Georgia, is a re- turn to battle in the old struggle be- tween the American farmer and the man regarded by him as a gambler in the necessities of life.
 The bill of which brief mention has already been made in this correspond ence. is likely to attract general att tention. It is not likely that anything can be done with 1t at thls Congress. but fn the Fifty-ninth Congress it's au- thor will vigorously push 1t. His first effort will be to have 1t placed as an amendment to the postofice appropria- lion bill
 The amendment will consist of sev- en sections. The first provides a pen alty of $1,oOO or imprisonment for not less than one nor more Glan three years for infraction. The other sec tions are as below:
 Sec. 2. That any person who shall by letter, telegram or other communi- cation, sent from one State to another in the United States, or sent from the United States to any foreign country enter into any contract hereinafter to be defined as options" or futures" or who shall do any other act aiding or encouraging the making of such con- tract in any foreign country. or shall in the United States perform any such contract. or pay any damages for non performance, or do any act in the part performance of such contract, or in part satisfaction of such damage, shall be guilty of a misdemeanor and shall be triable and punishable as provided for in section 1 of this act.
 Sec. 3. That for the purposes of this act the word options" shall be understood to mean any contract or agreement whereby party thereto or any party for whom or in whose behalf such agreement Is made acquires the right or privilege, but is not thereby obligated, to deliver to another or others. at a future time within a des- ignated period, any of the articles mentioned in section of this act.
 Sec. 4 That for the purposes of this act the word futures" shall be understood to mean any contract or agreement whereby a party contracts or agrees to sell and deliver to anoth- CT or others at a future time, or with fin a designated period. any of the articles mentioned in section , of this act, when at the time of making such contract or agreement the party so contracting or agreeing to sell and make such delivery or the party for whom he acts as agent broker, or em- ploye in making such contract or agreement, is not the owner of the article or articles so contracted or agreed to be sold and delivered, or has not therefore legally acquired, and is not then entitled to the right to the future possession of such article CT articles under and by virtue of con- tract or agreement for the sale and future delivery thereof previously made by the owner thereof: Provided.
 FFzT.. ras,ss, fro ment of this act shall apply to any contract or agreement for the future delivery of any of said articles made for and in behalf of the United States or of any State, Territory, County or municipality. with the duly auth 1rlZed officers or agents thereof, nor to any contract or agreement made by any farmer or planter for the sale and de- livery at a future time. or within designated period, of any of said ar ticles belonging to said farmer or planter at the time of making such contract or agreement, and which have been grown or produced. or at said time are in actual course of growth or production, on land owned or occupied by such farmer or planter; nor to any agreement to pay or deliver a part of the product of land as compensa ion for its use or as compensation for work or labor done or to be done on the same; nor to any agreement to pay or deliver part of the product of land as com pensation for work or labor done or to be done on the same; nor to any contract or agreement made with any farmer or planter to furnish and deliver to such farmer or planter at a future time or within a designated period. any of said articles which are required as food, forage, or seed by such farmer or planter, his tenants or employees; nor to any agreement made with a manufacturer to deliver to him at future time raw material of the particular kind, grade. and quality. required to be used in his bus lness, if such agreement be not made in any merchants exchange. board. or other association nor 10 bc subject to the rules and regula tions thereof and shall be for a bona fide delivery