The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1920-12-30
GRAIN GAMBLING
BARRED IN BILL
MINNESOTA LEGISLATURE TO
TAKE STRONG WALLOP AT
GRAIN GAMBLERS
MAY Be A PRISON OffENSE
BOOKS OF COOPERATIVE CON-
GERMS WILL ALSO BE OFF,
CIALLY AUDITED

The farmers of Minnesota and the
Equity Exchange which organiza-
ton is endeavoring to locate farm
ers' elevator in the city of Sank Cen
tire, will back bill to be introduced
at the forthcoming session OF the
Minnesota legislature making the
dealing in futures" a gambling
contract.
Local farmer members of the
Equity ever since it's initial advance
into Sank Centre CIRCLES, have been
interested in the grain selling condi-
tions of the various Chambers Of
Commerce.
II. B. Crozier, political writer on
the st. Paul Press, of Tuesday con-
tributed the following story of the
bill which is being drafted around
which is expected to be conferred one
of the greatest battles of Minneso-
ta's political history.
Dealing in futures is declared "a
gambling contract" punishable by a
fine for the first offense and by a
Jail sentence for other offenses, in a
bill prepared by the House commit
tee of ten for introduction at the
coming session of the Minnesota
Legislature. .
Provisions of the bill as formu-
lated in the first draft were made
public last week by Representative
r. A. Wilkinson chairman of the
committee. At the same time Repre-
sentative Elias Nordgren, men,
Der of the same committee made
public a bill providing for an audit
of the books of cooperative associa-
tons.
provisions of the so-called 'fu-
lures" bill follow:
First-Every contract Of sale for
future delivery of wheat grain y or
other farm products is declared to be
a gambling contract therefore lille
gal -.. .,..---.-,- ................
Second-Every such contract is de-
elared prima facie gambling con-
tract when the seller does not have
in his possession actually or potential
ly the commodity sold.
"Third-Any party to such gam
bling contract, on conviction, may be
fined from $500 to $1,000 for first Of
tense and must serve from thirty to
ninety days in the county Jail for
each succeeding offense. d.
Fourth of commerce
or board of trade are prevented from
IMPOSING any penalty on any men,
Der who fails or refuses to live up to
the terms of such a contract.
"Fifth-The act is not to be con-
strued as preventing elevators or
mills from buying or selling grain
in good faith for future delivery, the
practice that is known as hedging"
Introduction Of the bill is certain
= to precipitate one of the bitterest
fights of the coming session. Its
preparation was ordered at the re-
cent session of the House committee
of Ten with a similar committee
from the Senate, named to draft leg
,islature to remedy farm products
marketing conditions
''The principle of this measure has
: been Endorsed by the Minnesota
Farm Bureau federation and by the
national organization of that same
body" Representative Wilkinson
said
"There will be some revision Of
the draft before it is submitted to
the full membership of the House
Senate committee. l expect some
teeth will be put in it.
The Nordgren measure would re-
quire the state commissioner OF
agriculture to assist cooperative as
sociations organized under the MIN
nesota law to install a uniform sys-
tenn of accounting.
''The agricultural commissioner
then is required at least once a year
to have the books of such associa-
lions examined by a. competent ac-
countant. A report shall be filed
with the commissioner and a copy
furnished to the association.
Additional examinations shall be
made on a written request signed
by a majority of the board of di-
rectors or by 10 per cent Of the
members of such cooperative asso-
citation. EE -
Expense of the examination is to
be paid by the association examined,
a fee of $40 a day being allowed for
the accountant, the total cost to be
paid to the department of agricul-
ture and by that department turned
over to the state treasurer. The &C
countant will be paid by state war
rants.
"This measure is similar to one in
troduced two years ago by Repre-
sentatives Nordgren and Theodore
Christianson and passed by the
House. 1t did not reach that stage
in the Senate.
at is designed to aid cooperative
associations to avoid the pitfalls OF
POOR management and financing. The
accountant is authorized under the