The Monticellonian., 1919-07-04
ACT NO. e. ARnrnNrh EnhrtinrN IL IHI0.

Approved February IT, 1919.
 An Act to amend Act No. 2G6 of the Acts of 1917 entitled "An Act to es- tablish and regulate bonded ware houses; to stablish a marketing hu- rtau to regulate the ginning and pack Ing "f cotton, to provide for the grad ing and classification of cotton and Oth- eE foreign products.' Provides that any number of persons, not less than Len. at least 6H per cent of whom shall he engaged in aEriCulture. may apply 10 the board Of supervisors of ware houses for charter as public ware housemen. PrescfibCs the necessary contents of the application and pro- N1deS that the capital stock shall not be less than $1.000. Provides that when the application is approved the Sec fetary of State shall issue q charter. which charter shall be recorded by the commissioner of Mines, etc, and such commissioner shall issue a certificate permitting such warehouses to do bus hess i'll this State. Provides that the Warehouse shall enter into the State of AEkaHSaS With good and sufficient bond, to be approved by said Board fof Supervisors. The condition of such bond shall be to 0bligate the corpora ton to observe all of the provisions of this jaw. and shall be for the purpose of guaranteeing that the corporation Wall exercise ordinary care in storage CT sale. and shall be for the purpose of guaranteeing the classification, weights, grades and measures made by the cor pofatton Provides that any person in- jured may sue on the bond and the State need not be made a party. Pro- Ntdes 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 annu- 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 Yides 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
 Provides that corporations chartered under this act shall have the right to act as WafehouSemen. and shall have the right To sell in the market all prod uets of the ranch. orchard or farm on a commission basis. Provides that such corporations shall take a fair sample rom each bale deposited with them. which sample shall be graded by com petent graders under the control of supervisors. Provides that such cor pofatons may loan money upon prod ucts placed in their warehouse and provides that such corporations may loan ts 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- Ing application to the Commissioner of Mines. etc. Provides that cotton gin ned by public Einner shall be bated m a press box not exceeding 27X54 inches, inside measurement, and shall be wrapped with sound standard bag gtng not to exceed seven yards per bal
 Provides that such ginner shall at taeh such marks of identification as may be provided by the Commissioner of Mines, and provides that such efn- her shall pay into the State treasury 2Ia cents for each tag or mark of iden- dtieatton used by him. Provides that such tags shall be good for the season for which they are issued and shall not De subject to be used for any other sea son, but provides that tags left on hand may be exchanged for tags of the sue ceedlng season; the word season mean Ing from the first day of May to the S0th day of April following. Provides q penalty of not less than $10 or more than $5e for ginner to wilfully fail or neglect to attach a proper identif- cation tag to each bale of cotton