The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1914-09-10


amount OF insurance, weighing, cleaning, class
ing, warehousing, and other charges that will
run against such farm products while de-
posted But no deposit consisting in whole
IN part of any such products imported into this
country shall be received for deposit under the
provisions of this act All such warehouse
ce1pts shall be negotiable by Endorsement.
Sec 3. That the Secretary of Agriculture
shall prescribe such rules and regulations as are
necessary for governing the details of the man
agement OF the store-houses for the establish
ment and maintenance of standard and uniform
grades of the various farm products deposited,
fixing all charges necessary and proper for insur-
ance Weighing CHASING, warehousing, and other
purposes, and also for fixing the salary, bond and
responsibility of each of the managers (provided
the salary of any manager shall not exceed the
sum Of one thousand five hundred dollars per
annum), for holding the managers personally re-
sponsible on their bonds for weights and CLASH
fcations of all produce deposited, providing for
the rejection of understandable grades of pro-
duce or for such may be in bad condition, and
for all other purposes incident to the business of
Warehousing said products.
Sec. a. That the term of office for a manager
shall be two years; and the regular election to
fill such office shall be at the same time as the
election for members of the House of Represen-
tatiyes of the Congress of the United States. But
the Secretary of Agriculture may at any time
remove any such manager upon suitable evidence
OF lncompetency, dishonesty, or other sufficient
cause In case OF vacancy in the office of
manager from any cause the Secretary of Agri-
culture shall have power to appoint manager
for the unexplred term.
Sec. 5. That the products deposited may be
demanded and received by the holder of the
warehouse receipt at any time by the surrender
of said warehouse receipt, but must be removed
from store within eleven months from the date
OF deposit and all charges against such products
duly paid as they may have accrued, and if such
products shall in any remain on deposit
longer than ten months it shall be the duty of the
manager of the store-house where they NAV be
deposited under direction of the Secretary Of
Agriculture, to advertise that the same must be
removed within month that otherwise they
will be sold. And if at the end of eleven months
such products have not been removed and the
warehouse receipt for them surrendered, then
the manager, under direction of the Secretary of
Agriculture, shall sell said products, either by
forwarding the same to some primary market to
be sold at market rates, or by auction at the
warehouse or elevator where stored and the
proceeds OF SUCH sales shall be applied, first, to
the payment to the Government of any amount
it may have loaned upon such products and,
second, to the payment of all charges which have
accrued against said products under the rules and
regulations prescribed by the Secretary of Agri-
culture; and, third, the balance shall be held on
deposit for the benefit of the holder of the ware
house receipt who shall be entitled to receive
the same on the surrender of such warehouse re-
cipt. In case such products sold for nom
removal a commission of per centum shall be
charged against the proceeds to cover expenses
of sale.
Sec. g. That the holder of the warehouse re-
ceipt provided to be issued in section two shall
be entitled to receive from the Treasury of the
Unlteu States, IN treasury notes, eighty per
centum of the face value of such receipts, which
notes shall be paid him through such agency or
by such method as the. rules and regulations pre-
scribed by the Secretary of the Treasury shall
direct, and without other cost to the holder of
the warehouse receipt than the actual cost of
transportation of the said notes from the Treasury
Of the United States to the point of payment
And the payment to him of said notes shall
stitute loan by the Government of the United
States, for which said products shall be security
and the Secretary of the Treasury shall require a
surrender of said warehouse receipt collateral
to such loan, and shall require such other forms
of evidence of the obligation as he may deem
wise. He shall, instead of such warehouse re-