Sec. 1. Be it ordained by the City Council of the City of , That no person or persons whatsoever shall, after the publication of this act, sell or expose to sale by way of vendue, or auction, any property, real or personal, within the city of , unless such person or persons shall reside within the said city, and first obtain a licence for the purpose from the Mayor, for which such person or persons shall pay to the corporation, not exceeding one hundred dollars, and give bond to the Mayor and Council, with two good securities, in the sum of one thousand dollars, for the honest and due performance of all the duties required by law.

Sec.2. That if any person or persons shall be found selling or disposing of any property real or personal, within the city of , by way of vendue, or auction, without having obtained such license, and given such security, as aforesaid, such person or persons so offending, and being thereof lawfully convicted, shall forfeit and pay to the corporation, the sum of twenty five dollars for every lot which he or they shall have so sold.

Sec.3. That the auctioneer or auctioneers licensed as aforesaid, shall receive all articles which he or they shall be required to sell at auction, giving his or their receipt for the same, if reqired, and within ten days after any sale made, shall deliver a fair account of the same, and pay the amount thereof to the person or persons entitled thereto, deducting therefrom, the fees and commissions hereafter allowed, that is to say, on the amount of the sale of personal property of every description, a commission of five per cent. except public securities, and bank or other incorporated stocks, respecting which a different rate is hereinafter prescribed, and on the amount of sale of real estate, public securities and bank or other incorporated stocks, two per cent. on the first two hundred dollars, and one per cent. on the next one thousand three hundred dollars; and if the amount of sales shall exceed fifteen hundred dollars, then one fourth of one per cent. on such excess; and when the said auctioneer or auctioneers shall let by auction any real property, on ground rent, he or they shall be entitled to receive a commission on a sum equal to ten years amount of such rent; and in all cases when any article shall be actually exposed to sale, which shall not be sold, by reason of its not producing the price at which it may be limited, it shall be lawful for the auctioneer or auctioneers to demand and receive, on the sum at which such article shall have been struck off, one fourth of the commission which he or they would have been entitled to receive, had it been actually sold; and every auctioneer who shall demand or receive any fees or commissions not allowed by law, or greater fees or commissions than are so allowed, shall forfeit four times the amount of fees and commissions so demanded or received, to the use of the person or persons on whom such demand shall be made, or from whom such fees or commissions shall be received: Provided, That nothing herein contained shall be construed to prevent any auctioneer from charging and receiving a reasonable compensation for extra trouble for services rendered.

Sec. 4, That no person or persons, licensed as aforesaid, shall receive goods for sale, of any servant or minor, unless accompanied by a certificate from the owner or owners thereof, nor expose to public sale any real or personal property, without first making out in writing, and signing, and publicly reading the conditions of sale, nor without advertising the property intended for sale, and the time and place of sale in a newspaper, or by posting up notices in three public places [p. 716]