The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-08-15
Text of Recent Bill Passed in
Neighboring State
IS OF SUPREME INTEREST
N. L. Miller Proposes to Introduce a
Similar Bill at the Next Session of
the Legislature, to Which He
Will Probably Be Elected.

ham resultant from bucket shop speenla-
ton has caused widespread feeling in
favor of driving the bucket shops from the
state
Mr.. n. L. Miller, who will probably be
Jefferson county's next senator, proposes
to push through such measure, and he
seems TO be backed by all the other candi-
dates for legislative honors, and endorsed
by % per cent of the people Of this COM
munity.
The Georgia legislature has recently
adopted such a law.
As 1t is of supreme interest at the pres
ent time The Age-Herald presents the
Georgia law in full.
The Georgia Law.
It Is as follows;
A bill to be entitled an act to prohibit
contracts and agreements for the sale and
future delivery of cotton, grain, pro
visions and other commodities, stocks,
bonds, and other securities upon mar
gin, commonly known as dealing In fu-
lures: TO declare such transactions un-
lawful and TO constitute a misdemeanor
on the part of any person, association OF
persons or corporation particlpielns eie ne
in, whether directly or indirectly; TO pro-
hlpt any person from estapliSiiiiie, iii ,
tanning or operating an olllce Vi Pia -
OF business WheIe sucii s'.'I ,,s.i
Carried on 70 uelile wii 20 ,9,iit. IN COM
tu,e % ma tia,,atIer in such trans
actions to testify concerning their con-
nection Herewith; to provide that no
discovery made by any witness Whlch
or punishment under this act shall be
nsed AGAINST such witness in any penal
or criminal proceedings, and that he shall
be altogether pardoned therefore to pro-
vide that regular commercial exchange
and other bona fide trade organizations
may post quotations OF market prlees'
and for other purposes
Section l. BE 1t enacted py the General a.
assembly or the state OF Geolsia' aiu -
is nerepy enacted py aut no "a w, ne
same, tilae lto,n enu o.. ~ row
'his az II ai's'i. 70 la,,,,,, ~, co,,nora
SUI SUI a s.'o ~" ,tno,oai or AGENT to es
tahiiah ,naintain or nnerate an office or
a,, - h,,siress in This state for
o .,.l p,eoa - narr,,,ro On on engaeine
=, tba b1siness forbidden by this act.
commonly called dealing in futures on
r,argin. and any nerson violating the pro-
visions of this section shall be guilty
of a misdemeasor.
Section q Be it further enacted, That
every contract or agreement, whether or
not corporation shall agree to buy or sell
and deliver, or sell with an agreement to
deliver any wheat, cotton, corn or other
commoditv. stock, bond or other security
tn any other person or corporation, when
In fact 1t is not in good faith intended
hv fine PARTIES that an actual delivery
of the article or thing shall be made, Is
hereby declared to be unlawful whether
made or IN be performed wholly within
this state. or partly within and partly
with out this state: it being the intent of
this act to prohibit any and all contracts
and agreements for the purchase or sale
and delivery of any commodity or other
thing of value on margin, commonly
called dealing in futures, when the in
tention or understanding of the parties
Is to receive or pay the diferenee pe-
tween the agreed price and the market
price at the time of settlement; pro-
vided that nothing herein contained shall
he construed To anplv TO transactions by
mail or wire between persons in this state
and persons outside this state where the
nerson outside this state is not repre-
scented in this state by any broker, agent
or attorney In said transaction.
Section & Be 1t further enacted, That
every person who shall become a party
40 anv ouch contract or agreement as Is
nv this act made unlawful, and every
nerson who shall. as agent, directly or in
d3rectlv narticipate in making or fur
tbering or effectuating the same, and
every agent or officer of any corporation
who shall In any way knowingly aid in
making or furthering any such contract
or agreement. shall be deemed guilty of
a misdemeanor.
section Re If further enacted That
- ,sarsan shall he excused on any prose-
n,,tion under this act from testifying
ta,nhing ANYTHING done by himself and
othors contrary to the provisions of this
~. ~ INV dtscoverv made by a wit
$50 ,,ron s,,ch examination. shall not be
,,aa1 asoinst him In any penal or criminal
,1s,esoa,,tion and he shall be altogether
,-...,,s,,5.a - Tho offense so done or partic-
r. ~, -, h,, him
Co. no n further enacted, That in
: =, -Naas.,,,.,o,,s undar this act. proof that
an ss,s - ,,,as marty To a contract, as
" - W 49, ,r,nclnai 10 buy or sell and
sa,,,,ar anv article thing or property,
ona,aod ar no,ned in this act or that he
~. 49, ooe,t directly or Indirectly Of
a,,y marty in making, furtherlng or ef-
sa...,,att,e tho same or that he was the
- ~. offlcer NJ any corporation or as
.s,,,a tio,, ~ nersons in making, furtherlng
81 affeetnatine the same, and that the
s...,oia thIng mr. nroperty agreed TO lie
Ia and delivered was not actually de-
,,,,arad ard that settlement was made or
:, s,raed 10 he made upon difference in
,se,ne of the said article, thing or property
s,.a1, constitute against such defendant
.r,r.,, facio evidence Of guilt of the Of
~ -. tt,.,toa a., aoctione . and 2 of