Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-02-15
Sen. Deasy Presents Bill
Aimed At Them.
kct to Repeal Sturgis Law Has
a Stormy Hearing.
y. M. Heath and Ex-senator Stur.
gis Central Figures.

presented out OF order a drastic bill to
Iroiilplt bucket shops" 1t was tabled
Ipr pruning and will be referred to the
| committee on Judiciary. The bill
proFldes penalty of $1,000 or a year in
JAZZ for the first offense and for the
second oHense, not less than two years
or more than five. Accessories are
10 Dc considered equally guilty with
| 'ne principals and the same punish
| inent is prescribed for them. The full
| text OF the bill is as follows:
section l. A bucket shop, within the
meaning of this act, is defined to be an
ONCE, store or other place wherein the
proprietor or keeper thereof either i'm
ms or its own behalf, or as the agent or
correspondent of any other person. cor
poration, ASSOCIATION or co-partnership.
within or without the State, conducts
the business of making or Offering to
| make, contracts, agreements. trades.
| or transactions respecting the pur-
chase or sale of any stocks. grain.
provisions, or other commodity or per-
s"hal property, wherein both parties
thereto, or said proprietor or keeper
contemplate or intend that such con-
tracts, agreements, trades or transic-
ions shall be, or may be. closed, adj
justed or settled according u, or on the
basis Of, the public market quotations
of prices made On any board of trade
or exchange, upon which the commodi-
ties of securities referred in such con-
tracts, agreements, trades or transact
tionS are dealt in, ana without a bona
fide transaction on such board Of trade
or exchange; or wherein both parties,
or such keeper or proprietor, shall con-
template or intend that such contracts,
agreements, trades transactions
shall be, or may be, deemed closed or
terminated when change for the arti-
cleS of security named in such con-
tracts, agreements, trades or transact
tons shall reach Il certain figure. or
also any Office, store. or other place
where the Keeper or proprietor thereof
either in his or its own behalf or as
agents aforesaid therein makes 0r Of
ferS to make, with others, contracts.
trades or transactions for the purpose
of sale of any such securities or COM
mOditieS wherein the parties thereto do
not contemplate the actual or bona fide
receipt or delivery Of such security or
commodities, but do contemplate a set
Element thereof based upon differences
in the prices at which said securities or
commodities are, or are claimed to be,
bought ard sold.
Section >. No corporation. associa-
ton, cO-Iartncrship or person, shall
keep or cause to be kept, within this
State any bucket shop. as defined in
section one of this 2ct, or shall make or
offer to make any such contract, agree
ment. trade OF transaction as is defined
in said section; and any person, wheth-
er acting Individually or as d member,
officer, agent or employe of any cor
pOration association or co-partnerShip
shall keep or assist in the keeping Of
any bucket shop within this State, or
that shall make or offer to make any
such prohibited contract, agreement,
trade or transaction. whether the offer
is accepted or not. shall, upon convic-
| ton thereof be punished for n first Of
fence by Il fine not exceeding $1,000. or
| by imprisonment until such fine is paid,
| but for not more than one year; and
| any person who shall be guilty Of a
second offensc under this act shall.
upon conviction thereof. be punished
| by Imprisonment for not less than two
years and not more than five years
| and, if tn" offender is a corporation, it
shall forfeit its charter The continu-
| ing of the keeping of a bucket shop by
| any person. corporation, association or
| CO. partnrrShip. after Il first conviction
| therefor. snail be deemed Il second Of
| fence under this act. 1t is the pur-
| pose of this act to prohibit, punish and
prevent the carrying of the business
carried on in places commonly known
as "bucket shops" including the prac-
| tee commonly known as bucket shop
ping" by persons, corporations, associa-
| tionS or co-partnershipS oStenSibly
| CARRYING on the business of commission
merchants or brokers in grain, pro-
| vision, petroleum, stocks and bonds.
| Section 3. Any corporation. associa-
ton, partnership or person who
shall communicate, receive, exhibit or
display in any manner any statements
or quotations of the prices of any prop
erty mentioned in section one hereof
with a view to any transaction in this
act prohibited, shall be deemed an ac-
ccssory, and upon conviction thereof
shall be subject TO the same penalty as
the principal, and as provided in sec
ton two of this act.
Section 4. IL snail De tlle uuty ol
every commission merchant, cO-part-
nership. association, corporation OIL
broker doing business as such to fur
nish. upon demand, to any customer oil
principal for whom such commission
merchant, broker, cO-partnership, cor
poration or ASSOCIATION, as executed
any order for the actual purchase o
sale of any of the securities or com
modities hereinbefore mentioned, either
for immediate or future delivery,
written statement containing the names
of the parties from whom such prop
e,ty is bought or to whom it shall have
> been sold, as the case may be, the TIM
, when, the place where, and the price
which, the same was either bought o
sold. and in case such commission mer
chant, shall refuse promptly to furnish
such statements within "a hours tn
fact of such refusal shall be primi
facie evidence that such property wa
not sold or bought in legitimate man
ner.
/ The House was given over to the coln