The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1907-04-15
The BU(ktT SHOP LAW
What Is pYsAstsie1 N Z nt4ssfe rsSs<t
N IhsMfA lspNsiws.

anti buf set shop Hsfl as tAaess9 NF
fhe thift4*gh legislature and as s.su-
Sd by the governor The bill docs mot
become effective uu,ii nsaet5 daya
after Adjournment If ihe legislature
iie II Enacted by the Legislature 81
The State Of Texas
Section \ bucket shop siibin
the meaning ot this act. - auy plae.
shercin dea'in& in futures ts carried
on contrary to any Of the provisions
os this act
Sec 2 rs each Of the expressions
futures. dealing in futures and
future contract, AS these terms are
used In this act ix meant
First "A sale or purchase. or con
tract to sell or purchase. cor nny offer
Ia sell OF purchase any cotton. grain
meat. lard or any stocks or bouds of
any corporation 10 be delivered IN
/ the future where II was not the bona
Tide intention OF the party being
prosecuted under this act AT the time
that such sale, contract. purchase or
offer To sell or pnrchas. was made
that the thing mentioned In such
transaction should be delivered and
paid for as specified In such transae-
| ton
Second Any such sale. purchase.
offer or contract where IL was the
intention of the party being prosecu-
ted hereunder at the time of making
such contract or offer that the same
should, or, AT the option of either
party might be settled by paying or
receiving margin or profit on such
contract
Third Any purchase. sale or Of
tfer of sale or purchase. or contract
for future delivery OF any OF the
things mentioned in this section of
this act on, by or through any ex-
change or board of trade, the rules,
bylaws. customs or regulations of
which permit such contract or trans
action to be settled or closed by de-
livery or tender of any grade or
grades. of the thing mentioned in
such contract or transaction, other
than the grade upon which the price
is based in said transaction at any
price other than the actual price for
spot delivery of such other grade or
grades at the time and place of ac-
tual delivery or tender.
Section }. If any person shall, eth
er directly or indirectly, carry on OF
! conduct or be in anywise interested
! in carrying on or conducting any
! bucket shop he shall be punished by
! two years confinement in the peni-
/: Tertiary.
! Section A If any owner or person
+; in the management or control of any
property shall knowingly rent OF
lease the same to be used as a buck
ct shop, or shall knowingly permit
the same to be so used, he shall be
fined not less than 500 nor more
! than $4,000, and may in addition
| thereto be confined in the county jail
not less than one nor more than six
months.
/ Section 6. If any person shall make
| or offer to make for himself any flu
! ture contract, he shall be fined not
! less than 500 nor more than 5000
! and may be confined in the county
| Jail not less than ten nor more than
thirty days; provided, it may be
shown in defense of any prosecution
under this section of this act that the
transaction out of which such prose-
cution arose was a hedging con-
tract between parties in this state and
a party or parties without this state
and il such contract was made IN
whole or in part by any message sent
by telegraph or telephone, that such
message was delivered to the tele-
graph or telephone company sending
/ the same by the defendant himself,
! and not through or by any broker or
! agent and that such company rem
| derinS such service was a common
carrier, exclusively so engaged with
i no direct or indirect connection with
or interest in such transaction other
/ than the transmission of such mes
sage and receiving the charges there
/ for, which are not in excess of he
usual rate for commercial messages
| between the points of transmission
! and receipt of such message
I Sec :. II amy telegraph or tcis-
phone company. ur any agent .l'rc-
of shall knowingly permit amy tei.-
graph coz telephone wire og lu~tu-
ment To- remain iu any bucket shop
or shall kuuWiupl, permit ans ur fnv
wires. instruments or equipment 10
such telegraph ul telephone COME
pan, to be used n, auy person au-
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