The Montgomery advertiser., 1907-03-16

any special counsel to institute or de- fend such legal proceedings or to, as- sist the Attorney General therein and to contract with said special counsel concerning a reasonable compensation for his or their services which compen- sation shall be paid out of the State Treasury on a warrant drawn by the Auditor on the State Treasurer, upon the approval off the Governor.
 Sec. IS. That the office of State Tax Commissioner be and the same is here by abolisheds
 effect immediately upon It's passage and approval and that all laws and parts of laws in conflict or inconsfst- ent with the provisions of this act be and the same are hereby repealed.
 Sec. r. No officer of any bank or banking institution shall be required to disclose to the Tax Commission or any of its agents or clerks the depos- its of it's customers
 Approved March :. tso7.g. .a sa Official: q5 s ,s
 Frank N. Julian. ' s,-s.
 Secretary of State.
 No s42A AN ACT. (s. t75 To further regulate and prohibit the
 dealing in future contracts in the
 State of Alabama.
 
 islature of Alabama, That every com tract whether in writing or not, whereby any person shall agree to sell and deliver any cotton, Indian corn, wreat. rye, oats, tobacco, meal, lard, bacon, salt pork. salt fish. beef cattle, sugar, coffee, stocks, bonds, and cnoses In action, at a place and at a tune spe-
 fled and agreed upon therein to any 6t ther person. whether the person to whom such article Is so agreed to be sold and delivered shall be party to such contract or not when, Tn Tact, and notwithstanding the terms eX- pressed of such contracts, 1t Is not in- tended by the parties thereto that the article or things so agreed to be sold and delivered shall be actually delfv- cred or the value thereof paid, but 1t Is intended and understood by them that money or other thing of value shall be paid to the one party by the other or to third party, the party to whom such payment of money or other thing of value shall be made to depend, and the amount of such money or, qtneg thtng of value so to, be paid to, depend upon whether the market price or value of the article so agreed to be sold and delivered is greater or less at the time and place so specified than the price so stipulated to- be paid and re- ceived for the articles so to be sold and delivered, and every contract com monly called futures" as to the sev- eral articles and things hereinabove specified, or any of them, by whatever other name called, and every contract as to the said articles and things. or any of them, whereby the parties there to contemplate and intend no real transaction as to the article and thing agreed to be delivered. but only q pay- ment of a sum of nionay or other thing of value such payment and the amount thereof and the person to whom the same is to be paid to depend on whether or not the market price or value is greater or less than the price so agreed to be paid for the said ar ticle or thing at the time and place specified in such contract shall be ut terly null and void, and no action shall be maintained in any court to enforce any such contract, whether the same was made in or out of the State, or partly in and partly out of the State, and whether made by the parties there to by themselves or by or through their agents, immediately or mediately or shall any party to any such con- tract, or any agent of any such party, directly or remotely connected with any such contract in any way whatever have or maintain any action or cause of action on account of any money or other thing of value paid or advanced or hypothecated by him or them in connection with or on account of such contract and agency This section shall not be construed so as to apply to any person, firm, corporation, or his or their agent engaged in the, business of manufacturing or wholesale mer- chandising in the purchase or sale of the necessary commodities required in the ordinary course of their business
 Sec. 2. Proof that anything of value agreed to be sold and delivered was not actually delivered at the time of mak- ing the agreement to sell and deliver, and that one of the parties to such agreement deposited or secured, or agreed to deposit or secure, what are commonly called margins" shall con stitute prima facle evidence of the con tract declared void by the preceding section.
 Sec. 8. If any person shall become a party to any contract for the sale and future delivery of any article or per- sonal property in which 1t is not in tended by the parties thereto that such property shall be actually delivered. but the difference between the contract price and the market. price on the day of delivery shall be paid in money, or if any person shall be the agent, directly or indirectly, of any such party in making or furthering or ef tectuat1nB the SaInSs or IT any agent or officer of any corporation shall, m any way or manner knowingly aid in making or furthering any such con- tract to which such corporation shall be a party, he shall be guilty of mis- demeanor, and on conviction shall be fined not less than $10O nor more than $500 and may be sentenced to hard labor for not less than one month nor more than six months.
 Sec A. If any person shall, while In this State consent to become a party to any contract contrary to preceding section. made in another state. or if any person shall. as agent of any per son or corporation. become a party to any such contract made in another State. or in this State do any act or in any way aid in the making or further ing such contract so made in another State, he shall be guilty of Q misde- meanor and on conviction shall be fined not less than $50 nor more than $200. and may be sentenced to hard labor for not less than one month nor more than six months.
 Sec 5. If any person, corporation or other association of persons. either as principal or. agents. shall establish or