The Mena weekly star. (Mena, Ark.) 1904-1977, 1919-06-26

Approved February ~, 1913.
An Act to amend Act No. 266 OF the
Acts Of 1917. entitled IAN Act 10 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 9TH
err foreign products Provides that
any number Of persons. not less than
ten az least so per cent OF whom shall
be engaged in agriculture. may apply
to the board of supervisors Of ware
houses for a charter public ware
housemen. Prescribes the necessary
Vides that the capital stock shall not
he less than 81, 600. Provides that when
the application is approved the Sec
rotary of State shall issue a charter,
which charter shah be recorded by the
Commissioners 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 a 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 shah be for the purpose
or guaranteeing that the corporation
VIII exercise ordinary care In storage
or sale. and shall he 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 Pros
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 warehousemen. 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 a 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
be required to obtain license by max
ing application to the Commissioners of
| Mines, etc. Provides that cotton GIN
ned by a public ginner shall be baled
in press box not exceeding 27x54
/ lnCneSt 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
/ 2is cents for each tag or mark of iden-
| tiication used by him. Provides that
such tags shall be good for the season
4 for which they are issued. and shall not
| be subject to be used for any other sea :
1 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 then $40 or more
than $50 for ginner to wilIfulIy fail
or neglect to attach a proper identifi-
cation tag to each bale of cotton.