The Birmingham age-herald., 1907-03-16

State. he shall be guilty of misde- meanor and on conviction shall be fined not less than $50 nor more than $3O 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 2s principal or agents. shall establish or open an office or other place of busi- ness iu this State for the purpose or carrying on or engaging in any busi- ness of making contracts to sell and deliver any cotton, Indian corn, wheat, rye. oats, tobacco. meal, lard. bacon, salt pork salt fish, beef cattle, sugar, coffee. stocks, bonds. and ehoses in ae- tion at place at time specliled and agreed upon therein to any other person. whether the person to whom such article Is so agreed to be sold and delivered, shall be 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 dellV- cred shall be actually delivered or the value thereof paid but it 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
  value shall be made to depend, and the amount of such money or other thing of value so to be paid to depend upon whether the market price or value of the article so agred to be sold and delivered is greather or less at the time and place so specified than the price stipulated to be paid and received for the articles so to be sold and de- livered. or for making contracts com- monly called futures" as to the sev- eral articles and things hereinbefore specified, or any of them by whatever name called, he shall be guilty of msdemeanor. and. upon conviction thereof, shall be fined not less than $100 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.
 See G. 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 covery 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 offense so done or participated in
 
 that the defendant was party to contract as agent or principal to sell and deliver any article, thing or prop erty specified or named in such sections, or that he was 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 person in making fur therlng or effectuating 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, shall constitute against such defendant prima facie evidence of guilt Proof that any person. corporation or other associa- ton of persons either as principal or agents, has established an office or place where are posted or published from in- formation received the fluctuating prices of grain cotton. provisions, stocks, bonds, and other commodities, or of any one or more of the same, shall cnstitupte prima racie evidence of being guilty or Vloiat- ing the three preceding sections.
 See [ The provisions of this Act shall take effect on the first day of January, 1908.
 Approved March 2, 1907.
 Official
 Frank N Julian,
 Secretary of State