The courier-index., 1919-06-27
ACT NO. e. A Aznraxad EAkEnaEY III. lQ10.

An Aet flo amend Act No. 26s of the Acts of 1917, entitled An Act to es- fAplish and regulate bonded ware houaes; to establish . marketing pu- inS of cotton, to provide for the grad ing and eiAssifioatioA of cotton and oth. CT foreign products" Provides that any number of persons. not less than ten at least 60 per cent of whom snen De engaged in agriculture, may apply to the board of supervisors of ware- houses for charter as public ware housemen. Prescribes the necessary contents sf the application and pro. vides that the capital stock shaal nct the application is approved the Sec retary of State shall issue char ter, which charter shall be recorded by the Cemrnissioner of Mines, etc, and such commissioner shall issue certificate permitting such warehouses ts do bus mess in this State. Provides that the warehouse shall enter into the State ot Arkansas with a good and sufficient bond. to be approved by said Board Of Supervisors. The condition of such bond shall be to ebliRate the corpora ton to observe all of the provisions of this law, and shall be for the purpose of guaranteeing that the corporation win exercise ordinary care in storage CT sale and shah be for the purpose Of guaranteeing the classification, weights, grades and measures made by the cor poration. Provides that any person fn- tured may sue on the bond and the btate need not be made q party. Pro- vides that ths control of said corpora tion shsn be by 2 board of directors CT not less than three or more than nine. which directors shall be elected annu- ely at ths general meeting of the members of the corporation. Provides fhat tho profits shah be divided among members of the corporation, but pro- xt1 fnxfh sr hQ of net profits of each years business shall be paid into the reserve fund until such fund equals the amount of the orig fnal 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 6 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 oor- porations may loan money upon prod ucts placed in their warehouse, and provides that such corporations may loan to their members money to ena ble 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
 
 ned by public ginner shall be baied in press box not exceeding 27x6< 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 4 cents for each tag or mark of iden- tihcstion 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 suc- ceeding season: the word season mean ing from the first day of May to the soth day of April following. Providet penalty of not less than $l0 or more than $50 for a ginner to willfully fafI or neglect to attach a proper identin. cation tag to each bale of cotton.