Page:United States Statutes at Large Volume 49 Part 1.djvu/1536

 74 TH CONGRESS. SESS. II. CHS. 544, 545. JUNE 15, 1936 . 1491 [CHAPTER 544 .] AN ACT 1936. To pr ov ide for the appointment of two ad dit ion al judges for the Southern IS.33s .] District of New York. [Public, No. 674.] Be it enacted by the Senate and House of Representatives of the United States o f America in Congress assembled, That the Preside nt Un ited Sta tes cour ts. of the United States be, and he is hereby, authorized to appoint, by D NeWc York sou ther n and with the advice and consent of the Senate, two additional judges ju d ge sauthor z ionai of the District Court of the United States for the Southern District of New York. Approved, June 15, 1936. [CH APTE R 545 .] AN ACT June 15, 1936. To amend the Grain Futures Act to prevent and remove obstructions and bur- 	(H. R . 6772.1 dens upon interstate com merc e in grains and other com modit ies by regulating [Public, No.675.] transactions therein on commodity futures exchanges, to limit or abolish .short selling, to curb manipulation, and for other purposes . Be it enacted by the Senate and House o f Representatives o f the United States of America in Congress assembled, That section 1 Commodity Ex- of the Grain Futures Act (U. S. C., 1934 ed., title 7, sec. 1) is ° Vo l. 42, p. 998 ; amended to read as follows : "That this Act may be cited as the USn rt't le . `Commodity Excha nge Act ."' SEC. 2. The Grain Futures Act (U. S. C., 1934 ed., title 7, sets. Grain Futures Act 1to17, inclusive) is amended by striking out the word "grain" amended . wherever it appears in such Act and inserting in lieu thereof "com- Scope. modity", "a ny commodity", or "commodities", as the ca se may require, and by strikin g out th e phrase "cash g rain" wh erever s uch phras e appear s and in serting in lieu thereof "any cas h commod ity" . SEC . 3. Section 2of the Grain Futures Act (U. S. C. 1934 ed. Vol. 42, p. 998 ; title 7, sees. 2, 3 and 4) is amended by- L.S.C.,p.109. (a) striking out the third sentence of paragraph (a) and insert- Definitions . ing in lieu thereof the following : "The word `commo dity' shall Commodity . ' mean whe at, cotton, r ice, corn, oat s, barley, ry e, flaxseed, grain sor- ghums, mill feeds, butter, eggs and Solanum tuberosum (Irish potatoes) ." ; and (b) adding at the end of paragraph (a) the following sentences : "C ooper ative sssoci- atin of producer ." "The words 'cooperative association of producers' shall mean any o cooperative association, corporate or otherwise, not less than 75 per centum in good faith owned or controlled, directly or indirectly, by producers of agricultural products and otherwise complyin g with an Vol.42,p.388 . Act of Congress of February 18, 1922 (U . S. C ., 1934 ed., title 7, u .S.c" p.134. sees. 291 and 292), as now or hereafter amended, including any organ- ization acting for a group of such associations and owned or con- trolled by such associations, provided that business done for or with Busine ss done for the United States of America, or any agency thereof, shall not be united states, etc . cons idere d eith er mem ber or nonm ember busine ss in deter mining the compliance of any such association with said Act of Congress of co n- February 18, 1922 . The words `member of a contract market' shall traetl Member of a c°n_ mean and incl ude indi viduals, associa tions, p artnersh ips, cor pora- tions, and trusts owning or holding membership in, or admitted to membership representation on, a contract market or given members' "F utur es commis- tra ding pri vileges thereon . The words 'fu tur es com mis si on mer - sion merchant ." ch ant' sha ll m ean and incl ude indi vidu als, ass ocia tion s, p artn ersh ips, corporations, and trusts engaged in soliciting or in accepting orders for the purchase or sale of any commodity for future delivery on or subject to the rules of any contract market and that, in or in