The Newark journal., 1919-07-03
ACT NO. CT. AnnrnNch Irnhr1rnrx IT. 1A1A

An Act to amend Act No 2G6 of the Acts of 1917, entitled An Act to es- tablish and regulate bonded ware houses to establish a marketing bu
 reau to regulate the ginning and pack ing of cotton. to provide for the grad ing and classification of cotton and oth- CT foreign products" Provides that any number of persons. not less than ten, at least so per cent of whom shall be engaged in agriculture, may apply to the board of supervisors of ware houses for a charter as public ware housemen. Prescrtbes 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 tho Commissioner of Mines, etc, and such commissioner shall issue a certificate permitting such warehouses to do bus
 mess in this State. Provides that the warehouse shall enter into the State of
 bond. to be approved by said Board of Supervisors. The condition of such
 bond shall bo to obligate the corpora
 ton to observe all of the provisions of this law. and shall be for the purpose
 Of guaranteeing that the corporation will exercise ordinary care in storage
 or sale, and shall be for the purpose of guaranteeing the classification, weights, grades and measures made by the cor poraton. Provides that any person in- jured may sue on the bond and the State need not be made a party. Pro | vides that the control of said corpora i ton shall b6 by board of directors Of not less than three or more than nine which directors shall be elected annu l 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 1 inal capital stock.
 1 Provides that corporations chartered l under this act shall have the right to l act as warehousemen. and shall have 1 the right 70 sell in the market all prod
 ucts of the ranch, orchard or farm on l commission basis. Provides that such l corporations shall take a fair sample i from each bale deposited with them.
 which sample shall be graded by com i potent graders under the control of 1 supervisors. Provides that such cor l porations may loan money upon prod ucts placed in their warehouse, and l provides that such corporations may l loan to their members money to enable | them to make and mature their crops.
 Provides that all public gins shall ! be required to obtain a license by mak- 1 ing application to the Commissions of
 Mines, etc. Provides that cotton gin
 ned by public ginner shall be baled l in a press box not exceeding 27X54 l inches. inside measurement and shall 1 be wrapped with sound standard bag
 ging not to exceed seven yards per bale
 Provides that such ginner shall at l tach such marks of identification as
 may be provided by the Commissioner 1 of Mines. and provides that such gin
 ner shall pay into the State treasury | 7 F cents for each tag or mark of iden- i ttfeation 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 suc- 1 ceeding season. the word season mean
 30th day of April following. Provides
 q penalty of not less than $10 or more
 than $50 for a ginner to willfulIy fail
 or neglect to attach proper identif-
 cation tag to each bale of cotton