The Montgomery advertiser., 1907-03-16
THE MONTGOMERY ADVERTISER.

open an office or other place of busi- ness in this State for, the purpose os carrying on or engaging In any pusi, ness of making contracts to sell ana deliver any cotton, Indian corn, wheat rye. oats, tobacco, meal. lard, bacon salt pork. salt fish. beef cattle. sugar, coffee, stocks bonds, and choses in ac- ton at a place and at a time specined and agreed upon therein to any other person, whether the person to whom such article is so agreed to be sold ana delivered, shall be a party to such con tract or not, when, in fact, and not withstanding the terms expressed in such contracts it is not intended by the parties thereto that the articles or things so agreed to be sold and deliv- cred shall be actually delivered 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 other thing of value so to he 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 stipulated to be paid and received
  livered, or for making contracts com monly called futures" as to the sev- eraf articles and things hereinbefore specified, or any of them, by whatever name called, he shall be guilty of misdemeanor, and, upon conviction thereof, shall be fined not less than S100, and may be sentenced to hard labor. for not less than one month. and upon a second conviction shall be fined not less than $500 and sentenced to, hard labor for not less than six months.
 Sec. 6. No person shall be excused on any prosecution under the three next preceding sections from testify ing touching anything done by him. self or others contrary to the pro- visions of such sections, but no dis coyefy made by the witness upon. such examination Shall be used against him In any penal or criminal prosecution. and he shall be altogether pardoned of the offence so done or participated in by him. In all such prosecution. proof that the defendant was a party to a contract as agent or principal to sell and deliver any article, thing or prop erty specified or named in such sec tions, or that he was directly or indi- rectly, of any party in making, fur- thering or effectuating the Same, or that he was the agent or officer or of-
  tion or person in making, furthering or effectuatfng the same, and that the article, thing or property agreed to be sold and delivered was not actually delivered, and that settlement was made or agreed to be made upon the difference in value of said article, thing or property. shafi constitute against such defendant prima facie evidence of guilt. Proof that any person, corpora tion or other association of persons, either as principal or agents. has es- tablished an office or place where are posted or published from information received the fiuctuating prices of grain. cotton. provisions, stocks. bonds, and other commodities, or of any one or more of the same, shall constitute prima facie evidence of being guilty of violating the three preceding sec tions.
 Sec. T. The provisions of this Act shall take effect on the first day of January 1903,
 Approved March '. 1907.
 Official: a' g' eA
 Prank N Julian. ns8
 Secretary of State.