The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1923-02-16
SEN. GO0D|NC
WANTS WHEAT
t Is STABILIZED
THE SENATOR INTRODUCES BILL
IN SENATE TO STABILIZE THE
PRICE OF WHEAT FOR 1S2S.24-25.
SET PRICE At Sits BusHEL
BE CHAIRMAN OF THE BOARD
OF DIRECTORS.

Senator F. r. Gooding of Idaho, in
troduced in the United States Senate
on February 5th, the following bill
The Senator says he was forced to g.
the hospital or the bill would hav,
been introduced carry in this session
but he hopes to have hearings in 1t IL
a few days, and stilx has hopes of its
passing:
To promote agriculture by stabiliz
ing the price Of wheat.
Be it enacted by the Senate and
House of Representatives of the I'm.
tied States of America in Congress
assembled, That this Act may be cit
ed as "The Wheat Prices Stabiliza-
ton Act of 1928"
Sec. 2 That when used in this
Act
(a) The term Corporation" means
the Wheat Stabilizing Corporation or
ganized under the provisions of this
Act; and
Cb) The term Secretary" means
the Secretary of Agriculture.
Sec. 8. That in order Q) to regu-
late interstate and foreign commerce
and facilitate the movement therein
of wheat, (2) to prevent monopoliza-
tion, Injurious speculations, manipu-
lations and private controls of wheat
contrary to the antitrust laws, and (3)
to discourage the imposition Of unjust
and unreasonable storage charges,
commissions, profits, and practices
with respect to wheat moving in the
current Of interstate or foreign COM
merce by readjusting and stabilizing
prices and charges with respect
thereto, there Is hereby created
body corporate, to be known as the
Wheat Stabilizing Corporation, and
to be composed Of the Secretary OF
Agriculture and two, additional per-
sons (who shall be the directors ap-
pointed by the President, as hereinaf-
ter provided) and their successors in
office.
Sec. 4. That the management of
the corporation shall be vested in
board Of directors consisting OF the
Secretary Of Agriculture, who shall
be chairman Of the board, and two
other persons to be appointed by the
President, by and with the advice and
consent of the Senate. The two ap-
pointed members of the board Of di- |
rectors shall each receive an annual |
salary of $4,000.
Sec. 5. (a) That the corporation
shall be empowered and authorized
(1) To adopt, alter, and use cor
porate seal;
(2) To make contracts; to pur-
chase or lease and hold or dispose OF
such real estate as may be necessary
Tor the prosecution Of its business;
(3) To sue and be sued; to COM
plain and defend in any court Of COM
petent Jurisdiction, State or Federal;
az To appoint, by its board OF
directors, and fix the compensations
If such officers, employees, attorneys,
ind agents as may be necessary for
he transaction Of the business OF the I
to define their duties, re- +
luire bonds of them, and fix penalties 8
herefor; and IL
(5) To prescribe, amend, and re-
zeal, by its board Of directors, sub 7
ect to the approval Of the President, c
'y-laws regulating the manner IN 8
which its general business may be t
onducted and the functions vested t
a 1t by law may be exercised. t
(b) The corporation may adopt h
nd prescribe such rules and regu- 8
atoms as may be necessary efficient 8
? to exercise the functions vested In
. by this Act. Iii
(c)' The corporation is authorized v
D make such expenditures dnclud- o
,g personal services and rent In the Il
district of Columbia and elsewhere, D
.avel, per diem rates Of allowance IN r,