[Charlie Hough]

I found some more details on this early minor league draft in Article VI of the 1903 National Agreement between the major leagues and the National Association that represented the minors. However, the dates for the "draft" seem to apply only to this period of 1903 until a later date. Transaction reports for the 1890s at Baseball Reference show draft picks being made at various times of the year and not during the date range prescribed here. And Baseball Reference refers to these as "Rule 5" draft picks, but they were obviously based on an older National Agreement in which "Rule 5" did not exist.

Sec. 6. The right of a minor league club to its players shall be absolute, except that from September 1 to October 15 of each year, major league clubs shall have the privilege of selecting players from the National Association clubs for the following season, upon payment of $750 for each player so selected from clubs in Class "A" leagues; $500 for each player so selected from clubs in Class "B" leagues; $300 for each player so selected from clubs in Class "C" leagues, and $200 for each player so selected from clubs of a lower class, the payments to be made to the Secretary of the National Association, through the Secretary of the Commission, as follows: One-half of the amount when the selection is made, and one-half of the amount on June 1 following, the player to revert to the club from which he was selected if the selecting club defaults on any of the payments, the player also to revert to the club from which he was selected if when released he is not signed within ten days by a club of a minor league; provided, however, that not more than two players shall be selected from any Class "A" club during any one year.

Sec. 7. Any club entitled to make selection of a player, and desiring to do so, shall notify the Secretary of the National Commission, stating the name of the player and of the club to which he is under contract and reservation, and enclosing the amount specified in the preceding section to be paid for such release or draft. The Secretary shall thereupon notify the Secretary of the National Association, who shall thereupon immediately notify the club and league from which such selection shall be made, and shall order the transfer of the player to the selecting club at the close of the current season. Such selection and transfer shall thereupon be promulgated, and if such selection is revoked, or default made in payments, immediate notice thereof shall he given to the clubs of all parties to this Agreement, and any other club in the same league may be subrogated to the rights of the club defaulting in said payments, by paying to the club defaulting the sum so advanced.

Sec. 8. A major league club may at any time purchase the release of a player from a minor league club,. to take effect forthwith or at a specified date, provided such purchase is recorded with the Secretary of the Commission and Secretary of the National Association for promulgation within five days of the transaction.

Sec. 9. If a selected player is released within the year of, or the next year after, his selection, by a major league club, and no other major league club claims him prior to the expiration of his notice of release, the minor league club which lost him by selection shall have the priority of right to him over all clubs.

Sec. 10. The selection of a player made by a major league club under an arrangement with a minor league club for the return of the selected player after the expiration of the period of selection, shall be void, and the National Commission shall impose a fine of $500 on each club which becomes a party to a conspiracy to prevent a player from advancing in his profession, or in any way abusing the privilege of selection.