The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1923-02-22
HE GOODING BILL
FIXING WHEAT PRICE
III Text of Famous Measure With Amendment and
Digest of Its Provisions.
Enactment Means Redemption of America Basic
Industry.

bill to promote agriculture b.
bilizing the price of wheat.
BE it enacted by the senate an
ase of representatives of the Unite'
E &tes of America in congress assem-
4 d, That this act may be cited a
fhe Wheat Prices Sterilization Ac
1898. !"
ec 2. That when used ip this
Ia) The term corporation
Lns the Wheat Stabilizing Corpora
s. organized under the provisions. o.
zs act; and
fb) The term Secretary" means
*6e secretary of agriculture.
Sec. 3. That in order ~ to regu
late interstate and foreign commerce
zena facilitate the movement therein
M wheat, (2) to prevent monopoliza'
tion, injurious speeulations, manipu
I11Sons, and private controls of wheat
sontrary to the antitrust laws, and
313} to discourage the imposition of un-
af and unreasonable storage charges,
nmissions, profits, and practices
{ lfh respect to wheat moving in the
<jfrent of interstate or foreign com
erce by readjusting and stabilizing
Ices and charges with respect there
M there is hereby created a body cor
1| ate, to be known as the Wheat
kbilizing Corporation, and to be
nposed of the secretary of agricul-
fe and two additional persons (who
fell be the directors appointed by the
ssaident, as hereinafter provided)
ia their successors in office.
Bee. 4. That the management OF
fhe corporation shall be vested in
board of directors, consisting of the
secretary of agriculture, who shall be
chs;rman of the board, and tr other
persons to be appointed by tie presi-
dent, by and with the advice and con
sent of the senate The two appointed
members of the board of directors
shall each receive an annual salary OF
e12,00O.
Sec. 5. (a) That the corporation
all be empowered and authorized
To adopt, alter, and use a cor
Qate seal;
f2) To make contracts; to pur-
Lac or lease and hold or dispose OF
1Ssh real estate as may be necessary
1SY the prosecution of its business;
3) To sue and be sued; to com
MIN and defend in any court of com
Sstent jurisdiction, state or federal;
{4) To appoint, by its board Of di-
tsctors, and fix the compensation OF
Such Officers, employees, attorneys,
md agents as may be necessary for
the transaction of the business of the
Evaporation, to define their duties, re-
1uire bonds of them, and fix penalties
Eherefor; and
(5) To prescribe, amend, and re-
penl bv its board of directors, sub
|ect to the approval of the president,
,yflaws regulating the manner IN
which its general business may be con.
1ucted and the functions vested in it
N law may be exercised.
(b) The corporation may adopt
ind prescribe such rules and reguia-
ions as may be necessary efficiently
i exercise the functions vested in It
~ this act.
{c) The corporation is authorized
i make such expenditures (including
,ersonal services and rent in the Dis
net of Columbia and elsewhere and
'ravel, per diem rates of allow
.nce in lieu of subsistence, print
III and binding, and contingent and
Miscellaneous expenses) as may be
aeeessary efficiently to execute the
I4nctions vested in it by this act.
Ror the purposes of this subdivision
here shall be made available, for each
zeal year, out of moneys in the treas
w of the corporation, a sum not ex-
l6eding $5,0OO,DO0. All expenditures
<6de by the corporation shall be sub
|kt to review by the general account Il
~ office.
Bee. 6. That the capital stock OF
~ corporation shall be $300,0o0,O0o,
Phich shall be divided into shares OF
|100, each of which shall be subscrib-
il, held, and paid for by the United
5tAtes. The stock, shall be, nontrans-
'erable and shall carry no voting pow
i. 1t shall be the duty of the secre-
Ary of the. treasury to subscribe to
peh shares on behalf of the United
Yates, such subscription to be sub
vi to call, in whole or in part, on
note of two-thirds of the board of
6rectors of the corporation at such
Ilae or times as may be deemed ad-
sable. The secretary of the treas
IN shall take out, hold and pay for
4eres as called on behalf of the I'm