The daily morning journal and courier., 1907-05-31
BUCKET SHOP BILL
 IS REPORTED. Committee on Banks Sub mits Measure to
 House. EXIT BUCKET SHOPS. Text of Bill Submitted to General Assembly by Committee on Banks.

banks is as follows:
 Section 1. A bucket shop within the | meaning of this act, is defined to be | an office, store or other place wherein the proprietor or keeper thereof either in his or its own behalf, or as the agent or correspondent of any other person, corporation, association or partnership within or without the state, conducts the business of making or offering to make contracts, agree ments, trades or transactions respect ing the purchase or sale, or purchase and sale, of any stocks, grain, provi- sions or other commodity, or personal lproperty wherein both parties there to, or said proprietor or keeper, con- 1 ltemplate or intend that such con tracts, agreements, trades or transac- tions shall be, or may be, closed ad justed or settled according to or upon the basis of the public market quota tions of prices made on any board of trade or exchange upon which the commodities or securities referred to in such contracts, agreements, trades or transactions are dealt in, and with out bona fide transaction on such board of trade or exchange, or wherein both parties or such keeper or pro- lprietor shall contemplate or intend that such contracts, agreements, trades or transactions shall read cer- be deemed closed or terminated, when the public market quotations of prices made or such board of trade or ex- Ial1 a1a .tAs named in such contracts, agreements, trades or transactions shal read cer- tain figure; and also any office, store Tor other place where the keeper or proprietor thereof either in his or it's own behalf, or as an agent as afore- said therein makes or offers to make
 with others, contracts, trades or trans actions for the purchase or sale of any such commodity wherein the parties thereto do not contemplate the actual or bona fide receipt
 or delivery of such property, but do
 contemplate a settlement thereof based
 upon differences in the price at which
 such property is or is claimed to be,
 bought and sold. The said crime will
 be complete against any proprietor or
 keeper thus offering to make such con-
 tracts, trades or transactions whether
 such offer is accepted or not. It is the
 intention of this act to prevent, pun
 ish and prohibit within this state the
 business now engaged in and conaact-
 cd in places commonly known ad des- :. igated as bucket shops and also to
 include the practice now commonly
 known as bucket shopping by persons, corporations, associations or co-part- nerships who or which ostensibly car ry on the business or occupation of l commission merchants or brokers in grain, provisions, cotton, coffee, pe- . troleum, stocks and bonds.
 Section g. It shall be unlawful for
 any corporation, association, co-part-
 nership or person to keep or cause to
 be kept within this state any such
 bucket shop, and any corporation or person, whether acting individually or as an officer, agent or employe of any corporation, association or copartner- l ship, who shall keep or assist in the , keeping of any such bucket shop with ;, in this state shall, upon conviction
 thereof be fined in a sum not less thar
 $500 and not more than $1,000 or be i'm.
 prisoned in the county jail until suct
 fine is paid, not exceeding one year and any person or persons who shal
 be guilty of a second offense under this !, statute, in addition to the penalty . above prescribed shall, upon convic
 ton, be imprisoned for a period of ao
 less than sixty days nor more than ont year, and if a corporation, shall be lia ble to forfeiteure of it's charter, and tn,
 continuance of such establishment afte the first conviction shall be deemed : second offense.
 ' Section 8. Any corporation, associa : tion, copartnership or person who shal
 communicate receive, exhibit or dis play in any manner, any statement O
 quotations of the prices of any proper
 ty mentioned in section 1 hereof with 5 view to any transactions in this ac l. l prohibited shall be deemed an acces n sorry and upon conviction thereof shal e' be fined and punished the same as tn o principal, and as provided in section ie of this act.
 n Section 4. It shall be the duty of ev -- cry commission merchant, copartner e ship, association, corporation, persol e or broker in this state engaged in tn @ business of selling or of buying an selling stocks, grain, provisions or oth 't CT commodities, or personal propert l. for any person, principal, customer o l. purchaser to furnish upon demand t l. any customer or principal for whor IS such commission merchant, broker, co d partnership, corporation, association c le person has executed any order for tn r. actual purchase or sale of the commod
 ities hereinbefore mentioned, eithe
 for immediate or future delivery,
 written statement containing tn
 names of the parties from whom sue
 property was bought, or to whom
 shall have been sold, as the case ma
 be, the time when, the place wher
 and the price at which the same wa r either bought or sold, and in case sue r. commission merchant, broker copar 1e nership, corporation or associatio ,o shall refuse promptly to furnish sue
 statement upon reasonable demand, u n- fact of such refusal shall be prim tt facie evidence that such property ws h. not sold or bought in legitima r manner.