The Little River news., 1919-06-28
ACT NO. @. Approved February II, 1919.

An Act 10 amend Act No. 266 Of the tabish and regulate bonded ware houses; to establish marketing bu- rIeau to regulate the ginning and pack ing of cotton, to provide for the grad5 ing and classification of cotton and oth- CT foreign products" Provides that any number of persons. not less than ten. at least 60 per cent of whom shall be engaged in agriculture. may apply to the board of supervisors of ware housemen. Prescribes the necessary contents of the application and pro- vides that the capital stock shall not be less than $1,000. Provides that when retary of State shall issue a charter, which charter shall be recorded by the Commissioner of Mines, etc, and such commissioner shall issue a certificate mess in this State. Provides that the warehouse shall enter into the State of Arkansas with a good and sufficient pond. to be approved by said Board of bond shall be to obligate the corpora tion to observe all of the provisions of this law. and shall be for the purpose of guaranteeing. that the corporation Or sale and shall be for the purpose of guaranteeing the classification, weights, grades and measures made by the cor poration. Provides that any person in-
 
 State need not be made a party Pro- vides that the control of said corpora ton shall be by board of directors of not less than three or more than nine, which directors shall be elected annM- ally at the general meeting of the members of the corporation. Provides that the profits shall be divided among members of the corporation. but pro- vides further that 20 per cent of the net profits of each years business shall be paid into the reserve fund until such fund equals the amount of the orig inal capital stock. under this act shall have the right to act as warehousemen. and shall have the right to sell in the market all prod ucts of the ranch. orchard or farm on a sss taKe fa that san sada from each bale deposited with them, which sample shall be graded by com petent graders under the control of supervisors. Provides that such cor porations may loan money upon prod ucts placed in their warehouse and provides that such corporations may loan to their members money to enable them to make and mature their crops.
 Provides that all public gins shall be required to obtain license by mak- ing application to the Commissioner of Mines. etc. Provides that cotton gin- ned by public ginner shall be baled in a press box not exceeding 27xJ4 inches. inside measurement, and shall be wrapped with sound standard bag ging not to exceed seven yards per bale.
 Provides that such ginnr shall at tach such marks of Identification as may be provided by the Commissioners of Mines. and provides that such gin- ner shall pay into the State treasury 21R cents for each tag or mark of iden- tiacation used by him. Provides that such tags shall be good for the season for which they are issued. and shall not be subject to be used for any other sea- son. but provides that tags left on hand may be exchanged for tags of the sue ing from the first day of May to the S0th day of April following. Provides penalty of not less than $1O or more than $50 for ginner to willfully fail or neglect to attach proper identif- cation tag to each bale of cotton.