The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1923-02-16

ing, and contingent and miscellaneou
expenses) as may be necessary Ell
ciently to execute the functions vest
ed in 1t by this Act. For the pur
poses of this subdivision there shal
be made available, cor each ffsca
year, out of moneys in the treasur.
of the corporation, sum not exceed
ing s5,000,OO0. All expenditures mad
by the corporation shall be subjec
to review by the General Accountin,
iOnice.
I Sec. 6. That the capital stock O
the corporation shall be 5000, 900, 900
which shall be divided into shares ot
500, each of which shall be subscrib.
ed, held, and paid for by the United
States. The stock shall be non-trans-
ferable and shall carry no voting
power. 1t shall be the duty of the
Secretary of the Treasury to subscribe
| to such shares on behalf Of the Unit
ed States, such subscription to be sub
ject to call, in whore or in part, on
vote of two-thirds of the board of d.
rectors Of the corporation at such
time or times as may be deemed ad-
visable. The Secretary of the Treas
ury shall take out, hold, and pay for
shares as called on behalf of the Un-
tied States; and there Is hereby ;4p-
propriated, out of any money In the
Treasury not otherwise appropriated,
the sum of s3O0,O00,00O, or so much
thereof as may be necessary, to be
available until expended for the pur-
pose of making payments upon such
subscription as called.
Sec. 7. That the principal office of
the corporation shall be located in
the District Of Columbia, but the
board of directors shall have power
to establish agencies or branch offices
at such places in the United States
and in foreign countries as may he
deemed advisable.
Sec. s. That the corporation Is
authorized and directed to purchase
for cash at the guaranteed price pro-
vided in section wheat which is Of
a grade fixed by the United States Of
fetal grain standards and which Is
produced in the United States during
the years 1923, 1924, and 1925, upon
delivery thereof at terminal ware
houses in Portland (Oregon), Seattle,
Duluts, Chicago, Buffalo,
New Orleans, New York,
and at such other terminals as may
be specified by the corporation.
Sec. 8. (a) That the guaranteed
price for number one northern spring
wheat shall be $1.75 per bushel; and !
he guaranteed prices for the other |
grades fixed by the United States Of |
icial grain standards shall be fixed
~ the corporation upon the basis Of
he guaranteed price for number one
lorthern spring wheat.
(b) The corporation shall not pur-
hase any wheat at any market If the
rice at which such wheat is offered
or sale at such market exceeds the
price for such wheat, as
etermined under this section.
Sec. 10. (a) That every ware
ouse or elevator receiving or storing
heat purchased by or intended for
ale to the corporation shall be re- Z
uired to take out and hold a license IL
nder such rules and regulations as ID
1e corporation shasi prescribe. IL
(b) Whenever the corporation "
hall find that any storage charge, IN
profit, or practice, OF any \
censee, with respect to such wheat 1
unjust or unreasonable it shall or b
sr the licensee to discontinue the lC
lme and shall fix the just and rea- 7
,nabIe storage charge, commission, E
oft, or practice.
(c) The corporation may revoke a
e license of any licensee who know "
gly fails or refuses to discontinue II
ly unjust or unreasonable storage u
Iarge, commission, profit, or prac-
,e, in accordance with an order un-
r this section. Any individual,
corporation, or associa-
IN who, without a license issued
rsuant to this section or whose IL
nse has been revoked, knowingly
cages in or carries on any business
r which a license is required under
is section shall, upon conviction
ereof, be punished by fine OF not
ceeding $1,000, or Imprisonment for
t more than one year, or BOTH
Sec. IL. That the corporation shall
ain or dispose Of wheat 80 pur-
ased by, It at such prices and on
ch terms as 1t may. deem best for
public welfare at an advance on
, purchase. price sufficient to cover
cost to the corporation Of the
ndling, transportation, insurance,
rage, and other charges with re-
vet to the wheat.
,ec.. II. That after the passage Of
s Act and until July 1, 1925, no
eat or wheat -four shall be I'm
ted into the United States; except
t (1) wheat to be used for seed
poses may be imported under such
es and regulations (including pen