The Mena weekly star., 1919-06-19
Acr Nn- az.



An Act to amend Act No. 2G6 OF the
Acts Of 1917, entitled IAN Act TO es-
tahlish and regulate bonded ware
houses; to establish a marketing bu-
reau 10 regulate the ginning and pack
ing of cotton. to provide for the grad
ing and classification of cotton ana 9TH
er foreign products" Provides that
any number of persons. not less than
ten at least 80 per cent uf whom shall
be engaged IN agriculture, may apply
TO the board OF supervisors of ware
houses for a charter as public 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
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
VIII 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 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 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 warehousemen and shall have
the right to sell in the market ali prod
ucts OF the ranch. orchard or farm on a
commission basis Provides that such
corporations shall take 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 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
pc required 10 obtain license by MAX
ing application to the Commissioner Of
Mines, etc Provides that cotton gin
ned by public ginner shall be baled
in press box not exceeding 27x54
ihches, 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 Commissioners
OF Mines. and provides that such gin
ner shall pay into the State treasury
2 u cents for each tag or mark OF iden-
tihcation 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
S0th day OF April following. Provides
a. penalty OF not less than $40 or more
than $50 for ginner to willfully fail
or neglect to attach proper identin-
cation tag to each bale of cotton