The Newark journal., 1919-06-19
AGT NO. G..
Annroxcd trot,r,,.r,ft TOTO

7
 An Aet to amend Act No. 266 of the Acts 1gtf, entitled "AH Act ta es@ tabiish and fegulate bonded ware houses; ta establish q marketing bu- Heau to reguiate the ginnIna and pack Ing of cotton. to provide Tor the grad- ing and class ifieaIieu of cotton and ath- ef foreign pfaductss Provides that any number af persons Hat less tHan Len. at least Ha per cent =6f whom shall be eugaEea tH aggieuIEuHa- may apply fo the hoard of supervisors of ware houses for q charter as public ware hoUS"h1eu HFescribes the necessary contents of the application and pro 4aaes that t-the. .Ca pltHI= stock shall net ee less ihan si9GH. Provides that when tHe application is approved the =Ssc- feta'F at state shall lsHae charter. which charter shall he recorded by tHe 6ammt t=z4886g Of Mines etc, and such commissioner shall issue q certificate permitting such warehouses to do bus mess la tHIz State. Prov #8es that the warehouse shall enter into The State of Arkausas With a good and sufficient bond, to be approved by said Board of Supervisors. The condition of such bond shall he t8 oblf###e the c0Hp8Ha- ton to observe all of the provisions of this law. and shall be for the purpose ef guaranteeing that the corporation will exercise ordinary care In storage l or sale. and shall he for the purpose Of guaranteeing the classHH HHeatioH, weights. grades and measures made by the cor poFatiou. Provides that any person in-
 
 State need not be made party. Pro Efdes that The control of said carpoFa- tion shall b. by board of directors of Het less thaH three or more than H6ne which directors shalI he=eiected auau- ally at the general meeting of Hhe members Of the corporation. Provides fbat the profits shah ae divided among tmbeFs Of the corporation but pro Nldes further that 2s per cent of the Het proHt= ef eaeh yesat=z bus ness =sl4aH4 ] De paid lnlo the reserve fuud until such fund equals the amount Of the orig iGal capital stock.
 Provides that corporations chartered under this act shall have the right To act as W2lehousemon. and shall have The right 10 sell in the market all prod ucts of the ranch, orchard or farm on a commission basis. Provides that such corpora tlouS shall take fair sample From each bale deposited wi th them. which sample shall be graded by com hFttHf Ef4dgfS under the control of supervisors. Provides that such cor BorattoHs may loan money upon prod uets placed in thejr warehouse, and provides that such corporations may t9an 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- lu@ application tO the Commissioner of Mines, etc. Provides that cotton gin- ned by public Einner shall be baled in & press box not exceeding 2TN54 inches, inside measurement. and shall be wrapped with sound standard bag Eing not to exceed seven yards per bale.
 Provides that such ginner shall at i toch such marks of identification as may be provided by the Commissioner l of Mines. and provides that such gin ner shall pay into Che State treasury 3a cents for each tag or mark of iden- i Ufcation used by him. Provides that such tags shall be good for the season l for which they are issued. and shall not i be subject 10 be used for any other sea son, but provides that tags left on hand may be exchanged for tags of the sue ceediug season. the word season mean ins from the first day Of May to the 30th day of April following. Provides a penalty of not less than $1O or more than $50 for a ginner to willfuIly fall or neglect to attach a proper identif- cation tag to each bate of cotton.