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CHAPTER 5680—(No. 85).

AN ACT to Prohibit Contracts and Agreements of Cotton, Grain, Provisions and Other Commodities, Stocks, Bonds and Other Securities Upon Margin Commonly Known as Dealing in Futures, and to Provide Punishment Therefor; to Define What Shall Constitute Prima Facie Evidence of Guilt; to Compel Persons Participating in Such Transactions to Testify Concerning Their Connections Therewith; to Provide That Evidence Given by Any Such Witness Shall Not Be Used Against Him in Any Criminal Proceeding and to Exempt from the Operations of This Act Purchases and Sales of Commodities by Manufacturers or Merchants in the Ordinary Course of Business, and to Provide that Regular Commercial Exchanges and Other Bona-fide Trade Organizations May Post Market Prices, and for Other Purposes.

Be It Enacted by the Legislature of the State of Florida:

1907.

Ideal in cot

Section 1. That from and after June 1st, 1908, it shall Unlawful to be unlawful for any person, association of persons or ton futures. corporations, either as principal or agent, to establish, maintain or operate an office or other place of business in this State for the purpose of carrying on or engaging in the business forbidden by this act, commonly called dealing in futures or margins.

is not in

an actual de

article shall

Sec. 2. That every contract or agreement, whether or Unlawful to not in writing, whereby any person or corporation shall sell when it agree to sell and deliver, or sell with an agreement to tended that deliver any wheat, cotton, corn, turpentine, naval stores, livery of the or other commodity, stock, bond or other security, to be made, any other person or corporations, when in fact it is not etc. in good faith intended by the parties that an actual delivery of the article or thing shall be made, is hereby declared to be unlawful, whether made or to be performed wholly within this State, or partly within and partly without this State, it being the intent of this act to prohibit any and all contracts or agreements for the sale and delivery of any commodity or other thing of value on margin com

1907.

Parties en

gaging, guil

meanor.

monly called dealing in futures, when the intention or understanding of the parties is to receive or pay the dif ference between the agreed price and the market price at the time of settlement.

Sec. 3. That every person who shall become a party to ty of misde- any such contract or agreement as is by this act made unlawful, and every person who shall, as agent, directly or indirectly, participate in making or furthering or effectuating the same, and every agent or officer of any corporation who shall in any way knowingly aid in making or furthering any such contract or agreement, shall be deemed guilty of a misdemeanor.

Indirect par

ty guilty of Sec. 4. That every person within this State who shall misdemeanor become a party to any such contract made or to be made in another State, or who shall do any act, or any way aid, within this State in the making or furthering of any such contract, shall be deemed guilty of a misdemeanor.

Witnesses not excusable, etc.

Prima facie evidence of guilt.

Non-delivery prima facie evidence of guilt.

Sec. 5. That no person shall be excused on any prosecution under this act from testifying touching anything done by himself, or others, contrary to the provisions of this act; but any discovery made by a witness upon such examination shall not be used against him in any penal or criminal prosecution, and he shall be altogether par doned of the offense so done or participated in by him.

Sec. 6. That in all prosecutions under this act, proof that a defendant was a party to a contract, as agent or principal, to sell and deliver any article, thing or property, specified or named in this act, or that he was the agent, directly or indirectly, of any party in making, furthering or effectuating the same, or that he was the agent or officer of any corporation or association of persons in making, furthering or effectuating the same, and that the article. thing or property agreed to be sold and delivered, and that settlement was made, or agreed to be made, upon a difference in value of the said article, thing or property, shall constitute against defendant prima facie evidence of guilt.

Sec. 7. That proof that anything of value agreed to be sold and delivered was not actually delivered at the time of making the agreement to sell and deliver or that such delivery has not since said sale been made, and that

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one of the parties to such agreement deposited or secured, or agreed to deposit or secure, what are commonly called margins, shall constitute prima facie evidence of a contract declared unlawful by the terms of this act.

1907.

facie evi

Sec. 8. That proof that any person, association of per- office, prima sons or corporation, either as principal or agent, has dence of established an office or place where are posted or published guilt, etc. from information received the fluctuating prices of cotton, grain, provisions, stocks, bonds or other commodity or thing of value, or either of them, shall constitute prima facie evidence of guilt.

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course of

Sec. 9. That this act shall not be so construed as to Act does not apply to the purchase or sale of commodities required in dinary the ordinary course of business by any person, firm or business, etc. corporation engaged in the business of manufacturing or wholesale merchandising, or in the sale of stocks, bonds or other securities, nor shall anything in this act contained be construed to prevent or to render unlawful the posting or publishing of market quotations or prices of commodities, stocks, bonds and securities by any regular organized commercial exchange, or other bona fide trade organization; Provided, That no purchase or sale for future Proviso. delivery on margin shall be permitted.

Sec. 10. That any person or persons violating any of the provisions of this act shall be deemed guilty of a misdemeanor and upon conviction shall pay a fine not exceeding five hundred dollars, or be imprisoned in the county jail not exceeding six months, or both fined and imprisoned at the discretion of the court.

Sec. 11. That all laws and parts of laws in conflict with this act be, and the same are hereby repealed. Approved June 3, 1907.

Penalty.

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1907.

Appoint

Stat Geclo

gist.

Geologist to appoint assistants.

Duties of State Geologist.

CHAPTER 5681—(No. 86).

AN ACT establishing a Geological Survey for the State of Florida, to provide for the appointment of a State Geologist, to define his duties, and to provide for the maintainance of the survey.

Be it Enacted by the Legislature of the State of Florida:

Section 1. That the Governor of the State shall appoint a suitable person to conduct a geological survey of the State; such person shall be known as the State Geologist, and shall have his office at the Capitol.

Section 2. The State Geologist shall appoint subject to the approval of the Governor such assistance as he may find necessary to enable him to successfully, and with reasonable dispatch, accomplish the object of the survey, and such assistance shall be entirely under the control of the State Geologist.

Sec. 3. The State Geologist shall make to the Governor annually a report of the progress of his surveys and explorations of the minerals, water supply and other natural resources of the State, and he shall include in such report full description of such surveys and explorations, occurrence and location of mineral and other deposits of value, surface and subterranean water supply and power and mineral waters, and the best and most economical methods of development, together with analysis of soils, minerals and mineral waters, with maps, charts and drawings of the same; and it shall be the duty of the State Geologist and his assistants, when they discover any mineral deposits, or other substance of value, to notify the owner of the land upon which such deposits occur. Failure of said Geologist to notify the owner of notify owner such deposit before disclosing to any other person or persons, shall subject said Geologist to a fine of one thousand dollars, and six months imprisonment.

Failure of

Geologist to

of deposit.

Geologist to collect specimens and

deposit suits.

Sec. 4. It shall be the duty of the State Geologist to make collections of specimens illustrating the geological and mineral features of the State; one suit of which shall be deposited in the office of the State Geologist, at Talla

hassee, and duplicate suits in the libraries of each of the State Colleges; each suit to be correctly labeled for convenient use and study.

tion.

1907.

Geologist.

Sec. 5. That for the purpose of expeditiously and thoroughly carrying out the provisions of this act, there shall be appropriated out of any moneys in the Treasury not Appropriaotherwise appropriated, the sum of seven thousand five hundred dollars per annum. The Comptroller shall upon the requisition of the State Geologist, when approved by the Governor, draw his warrant on the Treasurer for the amount so appropriated in such sums as may be needed from time to time for the purpose of said survey as herein set forth; and for all such expenditures made under the provisions of this act, except for the payment of the salary of the State Geologist, as herein provided, the consent and approval of the Governor shall be obtained. and the vouchers for all such expenditures made from this fund shall be filed with the Comptroller; and a statement of Report of his receipts and expenditures shall be printed in such annual report of the State Geologist. Of the amount annually appropriated there shall be expended; First, for Specific the salary of the State Geologist, two thousand five hun- amounts of dred dollars per annum, which salary is hereby fixed at tion to be that sum. Second, for the contingent expenses of the sur- specified vey, including compensation of all temporary and permanent assistance; traveling expenses of the geological corps; purchase of materials or other necessary expenses for outfit; expenses incurred in providing for the transportation, arrangement and proper exhibition of the geological and other collections made under the provisions of this act, for postage, stationery and printing and the printing and engraving of maps, and sections to illustrate the annual reports, five thousand dollars, or so much thereof as may be necessary.

appropria

expended for

purposes.

Chemist.

Sec. 6. All chemical, analytical or assay work shall be Duty of performed by the State Chemist and his assistants at the direction of the Governor upon request of the State Geologist.

Sec. 7. All laws and parts of laws inconsistent herewith are hereby repealed.

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