The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1914-10-23

III has already been passed by tho
dos that not more than one-third
be planted in cotton, and in no
W.
in the State treasury for the purpose
OF paying tho interest on, said bonds
anu expenses. the loan to be made ON
basis Of 8 cents per pound for mid
ding cotton. and for lower grades of
cotton as the sinking. fund commission
may prescribe-upOn delivery of said
note or notes with warehouse receipts
or certificates attached thereto, evil
dencing cotton OF grade and quality
and Indicating the marks ard number
OF each bale as aforesaid, the sinking
fund commission shall cause 20 he de-
hvercd to the maker of said note or
notes warrant or warrants on this
State treasurer for bonds ns pre-
scribed in tho preceding section of
this act The payment of said note
OF notes shall not he required until
the cotton pledged to secure the Same
shall be sold for price sufficient to
pny the faco OF the note or notes and
interest from the date thereof and all
carrying charges on said cotton: Pro-
vided, That the cotton shall not be
sold by the sinking fund commission
within three years from the date Of
such loan or notes without the con-
sent OF tho maker of the note. When
the cotton Is so!d, amount Of tho note
and interest due the State ard ex.
penseB on said cotton shall 10 dcduct-
ed and the note or notes returned to
the maker, together with the surplus
proceeds, II any. f-om the sale OF said
cotton
Purpose IA Stated.
+, Sec. s. Il Ia the purpose of this
act in order 60 promote and safeguard
sAe eeneCat prosperity ax the Stgts
and Its people to retire and withhold
from tic market sufficient amount
OF the cotton crop of 1914 to give
value and stability to It's sale and to
give immediate relief 20 those pro-
ductng 1t, and the Bald bonds given In
exchanges thereof shall he distributed
as near as practicable according to
the 1913 production among the cOun-
ties. OF the State to the producers Of
cotton, landowners upon whose land
the same was produced. or holders OF
c0tsT:i :1z 30 Ss1eiiS VI Droducers
thereof and landowners in proportion
tothe cotton produced in each county,
during the year 1914. and within a
county shall be distributed among the
prodcers, landowners and holders for
the benefit OF producers and landown-
ers In proportion TO their production:
It being the intent that suchs persons
shall be entitled TO- deliver as far as
practicable at least one-third Of their
COTTON to, tho State under; tie terms
nor anoii ay,ena oniv Io :" Ds.s raa;saut =. .n.s
d,,cera ~ cntton - ~. Vaeut Hts. pE., ~.
-nwnars NJ ,on5 ,,non ~ ,hinS ssta tS Ss.trS uss
Sr. :, nrodnnaS eaS ss,so "n oaau cos.on
tnr the hanoft neI,rn5u 80, ~, Sus.y" ,"sa
.....!N-o eno n' ot plouucers or iand-
option OF selling Tho the snid H coston otto 'te te
the State rnders aection q ~ fhtu iact
or Of procuring loan tbereof .mnder
secttoni a Of this act. in nrnnnrtton IN
the cotton !, thew nroanced or rom.
troiled 40 far aa, NAV ha nra ct ttrahie =;
"Sac. &. That the laiiiiinp fnnd
commission shall seli said n,irchna aeS
cotton. or any portion + y stheraof - at
such time and; nrfce as smav Ia aaems
ad for tho beat interest of The State
except as herein inhihited. ProviaeS
That 81, shall, NOT he solS for q nr;ce
changed therefor and accrre1 .jnterast
together with the cxnanaen ~ wara.
hoIsinr ami holding tho sanoe md tho
axpenses otheryrisa fncnrrad mnSaS
thie act =. = -.
,1uSeo. y. That nnon nraaan.a f,on
/ OF any such warrant rnr warranfa ~
the. Stnte treasurer he shaii deliver
to the: holder bond Or bonds Is nearly
Qnunl In amount aa nnaathlN IN Tho