The Montgomery advertiser., 1906-08-21

ordinance to prohibit any and all con tracts and agreements for the purpose of said sale and delivery of any com modity or other thing of value on mar gin, commonly called dealing in fu- lures, when the real intention or un- derstanding of the parties Is to re- ceive or pay the difference between tnee 2 agreed price and the market price at inc time of the settlement; provided that nothing herein contained shall De construed as applying to transactions bv mail or wire between persons m this city or within its police jurisdic- tIon and persons outside of the state of Alabama, where the person outside the state of Alabama Is not represent ed in this city, or within its police Ju- risdiction, by any broker, agent or at- torney in said transaction.
 Sec g. Be it further ordained. That 1t shall be construed as violation of this ordinance for any person to be- come a party to any such contract or agreement as is by this ordinance made unlawful, or, as agent. directly or m directly. to participate in making or furthering or affecting the same. and every agent or officer of any corpora ton who shall in any way knowingly aid in making or furthering any sucn contract or agreement shall be deem- GQ kutlIF OL SAff@ CA A~---f~1TFs
 Rules us to Witnesses.
 ssec. 4 Be it further ordained, That no person shall be excused on any pros- ecution under this ordinance from tes- tifying touching anything done by him. self or others contrary to the pro visions of this ordinance. but any dis covery made by a witness upon such examination shall not be used against him in any penal or criminal prosecu- A An al T- doned of the offense so done or partic- ipated in by him.
 Sec. B. Be 1t further ordained. That in all prosecutions under this ordi- nance, evidence that defendant was party to a contract, as agent or prin- cipal, to buy or sell and deliver any article, thing or property, specified or named in this ordinance, or that he was the agent, directly or indirectly, of any party in making, furthering or effectuating the same, or that he was the agent or officer of any corporation or association or persons in making, furthering. or effectuatting the same, and that the article, thing or property agreed to be sold and delivered was not actually delivered. and that set- clement was made or agreed to be made upon difference in the market value of the said article, thing or prop erty, shall constitute against such q defendant prima facie proof of guilt of the offense prohibited in Sections and of this ordinance.
 Sec. 6. Be 1t further ordained, That evidence of anything o fvalue agreed to be sold and delivered was not ac- tually delivered and that one of the parties to such agreement deposited or secured or agreed to deposit or se- cure what are commonly called mar gins, shall constitute prima facie proof of a contract declared unlawful by the terms of this ordinance.
 Blackb0ards Must Go.
 Sec. 7.' Be 1t further ordained, That any person. firm. corporation or as- sociation. either as principal or agent, has established an office or place where are posted or published from infor- nation received. the huctuating prices of cotton. grain, provisions. stocks. or either of them, shall constitute prima facie proof of the guilt of the offense prohibited in Section of this ordi- nance.
 Sec 8. Be it further ordained, That on and after the irst day of October. 1908. no permit or license shall be is- sued or granted to any person, firm. or association for the pur- pose Of carrying any transaction or business prohibited by this ordinance.
 '1Seo 3. Be 1t further ordained, That any person violating any of the pro- visions of the ordinance shall upon conviction be fined not less than one nor more than one hundred dollars, and further, that each tranaactlon shall constitute Q separate anS distinct of fense.
 Sec. TO- Be it further ordained. That all ordinances, bylaws or resolutions. heretofore passed by the City Council of Montgomery in conflict with the pro- visions of this ordinance. be and the same are hereby repealed '