Fayette Tobacco Warehouse Co. v. Lexington Tobacco Board of Trade

MONTGOMERY, Judge.

This appeal concerns the right of a tobacco board of trade to exercise reasonable regulations for the orderly sale of tobacco at warehouse auctions insofar as nonmembers of the board are concerned.

The burley tobacco loose-leaf market at Lexington, Kentucky, is the largest in the world. The Lexington Tobacco Board of Trade, hereinafter referred to as the Board, was organized in 1937 as a nonprofit corporation to supervise the tobacco sales in Lexington. Its purpose was to promote efficient and orderly sales for the benefit of its members, the farmers, and tobacco buyers.

There…