The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1923-02-22

1tcu otdtcs5 anu Iutfe lS utttpy al
propriated, out of the money in tn
treasury not otherwise appropriated
the sum of $300,O00,00, or SO muc
thereof as may be necessary, to b
available until expended for the pun
pose of making payments upon sue
subscription as called
Sec. 7. That the principal offic
| of the corporation shall be located il
the District of Columbia, but tn
board of directors shall have power t
establish agencies or branch offices a
such places in the United States AM
in foreign countries as may be deeme'
advisable
Sec. 5. That the corporation i
authorized and directed to purchase
for cash, at the guaranteed price pro
vided in section 9, wheat which is OF
a grade fixed by the United States of
ficial grain standards and which il
produced in the United States during
the years 1923, 1924 and 1925, upor
delivery thereof at terminal ware
houses in Portland (Oregon), Seattle
Minneapolis, Duluth, Chicago, Buffa
10, Galveston, New Orleans, New York
and at such other terminals as may be
specified by the corporation.
Sec. 9. (a) That the guaranteed
price for number one northern spring
wheat shall be $1.75 per bushel; and
the guaranteed prices for the other
grades fixed by the United States of
fetal standards shall be fixed by the
corporation upon the basis of the guar
anteed price for number one northern
spring wheat.
(b) The corporation shall not pur-
chase any wheat at any market if the
price at which such wheat is offered
for sale at such market exceeds the
guaranteed price for such wheat as
determined under this section.
Sec 10. (a) That every ware
house or elevator receiving or storing
wheat purchased by or intended for
sale to the corporation shall be re-
quired to take out and hold a license
under such rules and regulations as
the corporation shall prescribe.
(b) Whenever the corporation
shall find that any storage charge,
commission, profit, or proctice, of any
ficensee, with respect to such wheat
is unjust or unreasonable it shall order
the hcensee to discontinue the same
and shall fix the just and reasonable
storage charge, commission, profit, Or
practice.
(c) The corporation may revoke
the license of any hcensee who know
ingly fails or refuses to discontinue
any unjust or unreasonable storage
charge, commission, profit, or prac-
tice, in accordance with another un-.
der this section. Any individual,
corporation, or associai-
ton who, without license issued pur-
suant to this section or whose license
has been revoked, knowingly engages
in or carries on any business for which
a license is required under this sec
tion shall, upon conviction thereof, be
punished by fine of not exceeding
81 900, or Imprisonment for not more
than one year, or both.
Sec. IL. That the corporation shall
retain or dispose of wheat so pur-
chased by it at such prices and on
such terms as it may deem best for
the public welfare at an advance on
the purchase price sufficient to cover
the cost to the corporation of the
transportation, insurance,
storage, and other charges with re-
spect to the wheat
Sec. H. That after the passage OF
this act and until July J., 1926, no
wheat or flour shall be imported into
the United States; except that (ll
wheat to be used for seed purposes
may be imported under such rules and
regulations (including penalties) as
the secretary of the treasury shall
prescribe; 20 wheat and wheat flour
for transportation bond through the
United States may be imported in
compliance with the Tariff Act OF
1922; and (3) wheat to be used for
flour and by-products
which are to be reported from the Un-
tied States may be imported in com
pliance with the Tariff Act of 1922
Sec. 13. That the net earnings OF
The corporation shall from time to
time be covered into the treasury OF
the corporation to be used as a re-
volving fund for the purposes of this
lct.s
Sec. IA. That report of its act
vities shall be furnished by the cor
Doration to congress at the opening of
each regular session.
Sec. Is. That beginning July J.,