The Mena weekly star. (Mena, Ark.) 1904-1977, 1919-07-03


An Act TO amend Act No 266 or the
Acts of 1917, entitled An Act to es-
tahlish and regulate bonded ware
houses. to establis a marketing hu-
reau To regulate the ginning and pack
ing of cotton 10 provide for the grad
Ing and classification OF cotton and 9TH
er foreign products" Provides that
any number of persons. not less than
ten, at least go 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. Prescrihes the necessary
contents of the application and pro-
vides that the capital stock shall not
be less than 900. Provides that when
the application Is approved the Sec
rotary of State shall issue a 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
mess In this State. Provides that the
warehouse shall enter into the State of
Arkansas With good and sufficient
bond, to be approved by said Board of
Supervisors The condition of such
bond shall be 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
poration Provides that any person in
jured may sue on the bond and the
State need not be made party. Pro-
vides that the control of said corpora
ton shall be by a 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-
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.
Provides that corporations chartered
under this act shall have the right to
act as warehouEemen, and shall have
the right to sell in the market all prod
ucts of the ranch orchard or farm on a
commission basis. Provides that such
corporations shall take n fair sample
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 I'm 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 a license by maxi
ing application TO the Commissioners Of
Mines. etc. Provides that cotton gin
ned by 8 public ginner shall be baled
in press box not exceeding 27x54
inches, inside measurement. and shall
be wrapped with sound standard bag
ging not to exceed seven yards per bale.
Provides that such ginner shall at
tach such marks of identification as
may be provided by the Commissioner
of Mines. and provides that such gin
ner shall pay into the State treasury
2 y cents fer each tag or mark OF iden-
titication 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
ceeding season: the word season mean
ing from the first day of May to the
30th day OF April following. Provides
penalty OF not less than $40 or more
than $50 for a ginner to wilIfully fail
or neglect to attach proper fdentifi-
cation tag to each bale of cotton