CHAPTER THIRTEEN 
COTTON FUTURES 
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CONCORDANCE WITH UNITED STATES CODE 
(Secs. 731-752, U. S. C.) 
The sections of the law contained in this chapter are arranged 
in the numerical sequence of the sections of the United States 
Code based thereon. Black-face numerals in the margin of the 
text indicate the section numbers of title 26, ¢ Internal Rev- 
2nue.” of the code, unless otherwise stated. 
rAct August 11, 1916 (30 Stat., 476) ] 
Sec. 
1. Title of act. 
2. Definitions; act of official deemed 
act of association or corporation. 
3. Tax 2 cents per pound involved. 
4. Contracts to be in writing. 
5. (Amended.) Tax not to be levied 
on contracts complying with 
conditions prescribed; reference 
of disputes to Secretary of 
Agriculture, 
6. Act of March 4, 1919. Effect of 
amendments, etc. 
Act of August 11, 1916 (con- 
tinued) : 
6. (Amended.) Mode of determining 
differences to be paid in settle- 
ment of contract on delivery of 
cotton above or below basis 
grade. 
6A. Tax not to be levied on contracts 
complying with conditions pre- 
scribed, “section 6A contracts.” 
i. Bona fide spot markets: designa- 
tion. 
8 (amended). Bona fide spot mar- 
kets; mode of determining. 
0. Cotton standards; establishment 
and promulgation ; change or re- 
placement ; forms. 
10. Tax not levied on contracts com- 
plying with conditions pre- 
scribed ; no tax on sale of spot 
cotton. 
1 Regulations 36 (revised Joie (T. D. 2358). The Cotton Futures Act of Aug. 18, 
1914, was held to be unconstitutional in the case of Hubbard ». Lowe (226 Fed., 135), 
but an appeal to the Supreme Court was afterwards dismissed. (See 242 U. 8. 654.) 
The law was reenacted by the act of Aug. 11, 1916, an act making appropriations for the 
department of Agriculture for the fiscal vear ending June 30 1917. 
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