{ o 240 urn .sv..—»uz mbU¤¤¢d U!—¤=¤ of theteha uotosuwioht ilscagin the markets ol which an madqbom ade snlosotspot ootton do for which dan! ud! bl W6 §8¥$¢\\N·B\‘Q;-9 mn todésignute at; km Evo mot airkds. in wit! ncdon 736 ot this chapter, he énll, tron dint:. as to spot;-,u1¤ "··— collected bl `him. —¤¤k9 ¤¤d_ rentlstioxts for the actual di¤omncos in the value ot spot E cotto1 othmgmdos by him—u reflected by bona Mo salq of spot cotton, of the —mme or dmoront 'gtsdes, in the ·markot4 o_ mmm ua,. dwguatedfby him, time to; time, .;o¤ ,P¤¤'l¥*¤¤.i in that event, diicrenoes. in nlug of cotton o vurioui gmdes involved in `purmant to hectic: 735 oi this chapter sha11_be detérmixiod irpcompliance wit] smh miles and regulations: Ifrosiidcd further, Thattit shall b· the duty éf guy onwgcd in the business oidealigg ,11 wt _. when requested by the Secretary of Agriculture or ap;
bade? his t0° correqtiy to thy
bcét of his knowkidgé. uxiderdaoath oxriothorwise, '8u.;Q11B8u0D4 téilchins his knvvildlcc of number oi, bilés, the olassmca don, tm pricé or nm; ik1e.pfioo_o£éred, and otherterms o; F¤1‘¢h¤8¤ V6! Bde, G; aq! cotton involved ip any trqugsactioq ticibntéd moby him, °oi·‘to produco books, letters, papers, o1 doc té in jhis, 1on .:or under his control; drelatipz ti s¤&. matter. o Any such-.porsou who»_shal1,>within a· reasonable
preséfibcdby the, Secretary of ,A$Yt(!\11t\11'¢, or `such agent
- tail or reiuse· to -aus=ver qucétions of; to gpm - dma such books, letters; papers, o:‘documont§,1or_who shal villtully zhcnny answerthdt is tqlso or misleading, shalltbi guiltysoi a misdemeanor, and t1po¤"oohvigtion··.thergot shall be wnishcd by a hue not exceeding $500.- j (Ang 11, 41916, c. 313 _¤ stat 41¤;1w. §_,‘1919,_c. 126.} 6. 40 Stat;1352) I ·- ‘ Y .746. 9.] Cotton standsrqlg liked 'by , Secretary; Losers collected for formrof standards to ‘b• covered into Ti·eas¤ri.—¥-Subject to the provisions of sectjox ,_66 oi Title *77 the Secretary ot Agricultuxé isoquthorizod, Iron time to time, itc éstablish and promulgate standards o1_ cottox by which its quality _ or valpe msy..bc judged. 'or determined i¤¢lil<}i¤8 USA S1'¤d€.‘ ‘l6¤§th _0f Staple, Stréngth. oi staple, color md such `other qualities, properties, and conditions as ‘may.b< stamardizcd in ‘p}actiml»form, which, {or the pui'posi=:s‘ of this chapter, shall be knowx1_ as> “Qmcial cotton standards o1 the I}11ited_States ": Provided, That any stsmdmfd ot any cotton established and promulgated under this chapter by the Secre-
tary of Agriculture shall not be Changed or replaced wi@iu a
period léss than one year from and after the date of the pro, muigatiou thereof- by the Secretary ot Agriculture: Provided farther, That no change or replacement of guy standard oi any cotton éstznblished aud, promulgated under this chapter by the Secretary of Agriculture shall become effective until after one year'; public notice thereof, which notice shall specify the ldate who; the smite is to bocomow effective. The Secretary `oi Agriculture is authorized and directed to prepare practical forms of the omcial cotton standards which shui; be estnbhshwd by him, and to furnish such practical forms from time to time. upon request, to any {person, thoécost thereof, as determined by the Secretary of Agriculture, to be paid by the person requesting the game, and to certity mch practical forms undér the seal ot the Department of Agriculture and urider the signature oi the ~sgid Secretary, thereto amxod jay bimselt or by some oiHc1a1`1 or empwymfot the Department of Agriculture thereunto duly authorized by the said All sums collected by tho Bmretary of Agriculture for furnishing practical forma ¤m1e1•‘t1Ii¤ section shall bé deposited and covered into the Treasury •s` misgellnneous receipts, (Aug. 11, 1916, c. 313, M ,.BtIt.}w479, @81.) . 741. [Bettina 10.] konptloajron tax of "•o¢tio¤ 10 eostnct•” and spot cotta ••1e•.—No tax shall be levied unda:
REVIEW! 190 "
!\W¢¥|i>*¤0¤§¤!¢•¤t!•et.o£•ale¤¤¥i9¤<\i¤section733 • ll the contract comply with ack ot the tollowgg um, Q _ First. Contorm to the rnles and rexulations made pursuant 1 tothischspter.] . _ in - B · Second. Specify the grade, type, sample, o1·‘desu·imon of the I, 'cotto¤_ involved in the contract, the price per pmnd st which “ such cotton is conttacted to be bon@t or sold, the date ot the B puréxase or sale,. and the time who sllpment or delivery ot ¤ snchfcottm is~to he made., — · ’ t .- Third; Provide cthatcotton of oswithm the grade or ot the { type, or according to thesample. or déscrlpslm, the ¤ gqnfmqt ghg];l· be delivered thereundei end, that no cotton Fl; pv·hlch_n.doé; 110t.(!)llfol‘Hl-E the type; sample, or descrjption, or F which is not ot or within the gfade specined in the cont;-se; °_ slmll be ocdehvered thereunduz- 3 ' 7_ Fourth. Bfovide that the delivery `otootton under the con. B tract not.be`_¢-ziected by manned "·s6t-e¤” or "ring" B _ settlement, but only by the actual transfer of the meciicd cot. " ton nientioned in the contract. p- e . - · · f. ~`The provisionscoio the md, third, and tmrtb mbévisions ot "7 this section shall He deemed-fully into any such
- ` contract if.there be written or printed hereon, oi- me docu-
° mentfor memorandum evidaotng the same, at or prior to the B time the game as entezes nm, ulewoma wsunjm to umm e States cotton futnresact, section 10." ~_ * _ . _ ’ _'l‘hischaptershel1notbcconstr¤edtoi¤pose•taionauy 1. sale of spot cotton. _ . C , s B ‘ This section shall not be construed to apply to any contract ? of sale made in compliance with section 736 of chapter. I (Aug. 11, 1916; c. 313, 39 Stat.»479.)- ° on o _ _ ` _. 742. [Section 11.] Payment of tax; slxkg stanps te cm-
- tract or nnemoranda; cancelling stanps.——»'I`lie imposed
B by section 733 of thiséchapten shall be paid ‘sy_.u»e seller ot ‘ the cotton involiredein the contract of sale, by means ot stamps
- _» which shall be amxed to such contracts, `or»`to'tl>e memoranda
- evidencing the salnekand canceled in with rules and
•- regulations which shell be prescribed By the Becretsryof the • Treasury. (ang. 11,1916, c. 313, 39 Stat. 4&).) . _ ’ 748. {Section 12.] Contracts not °eoaf•naiag to require- ’ ments unenforccablc.——No contract ot sale ot cotton for future [ deltvemy mentioned in section 733 ot this chapter which does not ‘ conform to the requirements of section 784 hereof and has not ‘ the necessary stumps affixed thereto as required by section 742
- hereof shall be enforceable In any court of the United States by,
‘ or on behalf of, any party to mch contract or his priviesQ (Ang. I 11, 1916, c. 313, 39 Stat. 480.) [ · 744.l [Section 13.] Rernlationsfor collection M tax; records ' and returns of sales; lntenal revenue laws applicable.-The ’ Secretary of the Treasury is anthorisgd to make and p£omnl· ’~ gate such rules and regulations as he maydeem necmery to ? collect the tax imposed by this chapter and otherwise to enl force its provisions. Further to elect thh purpose, he shall [ require all persons coming within its provisions to keep such · records and statements of account, and may require such per- ' sons to make such returns verlhed under oath or o/Qnerwlse, as · will fully and correctly disclose all transactions mntioned in l section 733 ot this title, lnclndlngl ‘ the xnaklnx, execution, Y settlement, and tulilllment thereof; he may require all persons
- who not in the capacity ot a clearing house, clearing associa-
· tion, or similar institution for the purpose ot clearing, settling. { ' or adjusting transactions mentioned ln said section 783 ot this
- title to RQD such records and to make such returns as will
Y fully snd·correctly disclose all tact: in their possession relating
- to such transactions; and he may appoint agent: to cmdnct
the inspection axy to collect said tax and otherwise to enforeethis www and all rules and reznhtions made by htm Lin pnisnuce here•¢,"nnd mu dx the compensation of such
