IMAGE EVALUATION TEST TARGET (MT-3) k // ^/ ..* A f/. 1.0 I.I m us ^ IIIIIM 11:25 lllll u 6" ii4 1.6 Photographic Sciences Corporation 23 WEf T »4AIN STREET W;:* [ change. ;h OCT., 1888. • D?.) "IONS Fl)H the GOVERNMENT OF THE CALL BOARD. RELATINfJ TO SALES KOR FUTURE DELIVERY. TERMS OF TRADE. VMNNIl'KG: THK (' 'MMKRCIAL I'RINT. 1 H92. VICTORIA, B, a / fc: H^.»»Jk. ..♦". '■r- 1 u — THE WINNIPEG ^m \ pi'oduce E^^chancie. ADOPTED AT A BENERAL HEETINQ, HELD 26tll OCT,, 1888. {Amriiikd ir.lh D>i\, ISDI, nnd Lith Jan., 18DS.) RUhKS AND RE(;ULATIONS Vow. TllK GOVERN MENT OF THE CALL BOARD. RKLATIXO TO SAT.ES KOR KUTURE DELIVERY. TERMS OF TRADE. VMNNIl'F.O : TUK (■ •MMKRCIAI, PRINT. VICTORIA, B, a / ,y V^M N^ /^^ w clu- Mel Wil Will Ste oth in 1 l.y ha\ tl trill tiot !in( I'ro the red 10 sail sen eiiE Na At Mi Hn W. bei ACT OP INCORPORATION •JK TMK— 11, Winqipeg (qfaii) and produce Ej^change. ^^\ Vic, CltajK :'.l. Atixeyited to !>s//- J/^/vV. 1891. WHEREAS, Frederick Williain 'rii(.iiii)s members of the Corpora- tion hereby created shall be and they are iiercby const tuted a body corporate under the name of " The Winnipeg Grain and Produce Exchange," hereinafter called the said Corpora- tion, and may by that name sue and he sued, implead and be impleaded, answer and he answered, defend and be defend- ed in all courts of law and equity; and by that name they and their successors shall have perpetual succession ; may have a conunon seal and may change and alter the same at pleasure ; may accjuire by purchase or otherwise for them- selves and their successors under any title whatsoever, pro- perty real and personal; may alienate, sell, mortgage, convey, lease or otherwise dispose of the same or any part thereof from time to time 8s occasion may require, for such price or prices as they shall see tit, ac(|uire other real and personal property for the purpose of this Act; may borrow money on the hypothecation or mortgage, or security' of the immoveable ])roperty of the said Corporation, or by the issue of deben- tures or debenture stock, bonds or fully paid up preference shares, upon such terms and at such rates of interest as the}'^ shall see tit, with power to execute all necessary bonds or mortgages to tiustees to secure the repayment of any moneys borrowed ; provided that the nggregate amount borrowed shall not exceed in the whole the sum of Two Hundred and Fifty Thousand Dollars (S2o0,000); provided always the clear value of the real and personal estate together held by the said Corporation at any one time shall not exceed Five Hundred Thousantl Dollars ($500,000); and provided also that tlu' said Corporation shall not have nor exercise any corporate powci's whatsoever, except as are expressly conferred by this Act, or as are necessary for carrying the same into etlect. 2. The objects of the said Corporation are hereby declared to be (a.) To compile, record, and publish statistics, and acquire and distribute information respecting tlie produce and pro- vision trades, and promote the establishment and maintenance of uniformity in the business, customs and legulations among the persons engaged in the said trades throughout the Pro- vince. (b.) To provide and regulate a suitable building or room for •* a Grain aiul Produce Exchange and offices iji the City of Winnipeg, and encourage tlie centralizati jn of tlie pro(hice and the provision tradt'S of the said City thereat ; to promote the fstahHshiiient and maintenance of uiiifonnity in tiie husiness of its nieud:ers and tl-.ose (h'aling with tliein ; to compih^ record and pnhlish statistics i-especting the same; to promote the observance of sucli regulations and re(|uire- ments as may be bj' by-law established, n(^t being contrary to law and to adjust, settle and determine controversies and mis- uiidi.'rstandings between persons engaged in the said trades, or which may be submitted to arbitration as hereinafter pnnid- ed ; to which ends the said Coi'poration is hereb}' empinvered by vote of the majority at any animal, quarterly or special meeting of the Association, to make all proper needful by- laws f()r its government ; for the maintenance and due regu- lation of the Grain and Produce Exchange offices and property thereof; for the raising of capital, iK.tt exceeding in amount the aforesaid sum of Two Hundred and Fifty Thousand Dol- lars (S250,000), by the issue of transfera1)le or fully paid up preference shares, debentures oi- debenture stock or otherwise, and for tlie appointing of the terms, rights and privileges (in- cludino- the riuht of voting but such right of voting to be in- dependent of th'' right of voting incident to right of member- ship of the said Corporation) and rate of interest under wliich saiil shares or debentures or bonds may be held, trans- ferred or be forfeited ; Provided that any by-laws or resolu- tions regulating the said terms, rights and privileges shall re- main in force and be binding on the said Corporntioii, and shall not be altered or amended so Jong as any of such uch other purposes as may l>e brought before such meeting), at such time and place, and under such regulations and notices as the by-laws of the said Corporation shall determine, and may be adjourned as decided at such meeting; l)ut in case of any accident, failure or neglect to hold such genei'al election the said Corpoi'ation shall not thereby lapseor terminate, I tut shall continue and ex- ist, and the old officers shall hold office until the next general election, or until such other period as may be provided for in the by-laws. ■I (1. Tli(i saul Oorf)or;ition may admit as mcml)crs such per- sons rusidmts of Canada, as they see iit, and may expel any mend>er for such reasons and in such maimer as may he hy hy-laws ai)])()inted. 7. Tlic said Corporation sliall iiave [lower to pro\ide by l)y- law foi' tlic election or appointment hy nomination of Arbitra- tors nu.Muhers of the said Corporation, to hear and^ to decide controversies, disputes, or misunderstandings relatinn- to any conunercial matter which may arise hctween mendiers of the said Corporation or any person whatsoever claiming l)y, through or under them, which may Ix' voluntarily sul)mitted i'or arT.itration hy the parties in dispute : hut nothing shall prevent tht; parties in any case from naming memhers of the said Covj)oration, or other than memhers of the Council of Manao'cment, as the Arbitrators to whom the matter will be submitted 8. M-mdu-is and persons assenting to an arbitration by an nistrum.ut in writing, signed by them according to the form in the Schedule'A" to this Act, shall hv understood to have suh- iin"tted to tlu! decision of the majority of the Arbitrators, \vho, under any by-law or by nomination by the parties, or by the submission, may l)e appointe'd to hear the case, and to decide upon the same. 0. The elected Arbitrators shall, after their election and be- fore they act as Arbitrators, take and subscribe an ^oath or athrmation before any Justice of the Peace, or any Commis- sioner appointed to receive affidavits, in the Superior Courts (who are hereby empowered to administer such oaths), that they will faithfully, diligently, and impartially perform their duties as Arbitrators, and will in all cases to be submitted, give a tru(^ and just award according to the l)est of their fudgment and ability, without fear, favor or afiection, of or for any party or person whomsoever; and Arbitrators nom- inated bv the parties shall, in each case before they act, take and subscribe a similar oath or afHrmation in manner afore- said ; and such oath or affirmation may be according to th(^ i\)rm in Schedule 'B " of this Act. 10. The members appointed to hear any case submitted for arbitration, as aforesaid, or any two of them, shall have full power to examine upon oath or affirmation (which oath, or affirmation any of such three members is hereby empowered to administer "and which may b,> according to the form in 1 s SeUedule "C" of tliis Act) any party or witness who, appearing voluntarily before them, shall ho williii'^ to be so examined, anfl shall give their award thereupon in writing ; and their decision, or tliat of any two of them, given in such award, shall bind the parties aceorct unnually from among those of lis members, who Jire oidinary nit-inbers in good standin^r, a Presidnt; and each perscm so holding the office of Pn-Niden*'. of a Branch Association shall be ex-ofjicio an Honorary Vice-Pnsident of the said Corf)oration. The other officei-s and members of Branch Associations shall be elected and admitted as may be provided by their by-laws. If). Kvery Branch Association shall have the right to col- lect the subscriptions of members thereof, and to apply the same to the renting of necessary rooms fer meeting, to the payment of a Secretary to the collection and distribution of trade statistics and information, and to any other h gal pur- pose for the promotion of the interests of tbe produce and provision trades in the places where such Branch Associations maj' be established. 17. All disputes or misunderstandings relating to any com- mercial matters which may arise between members of any of the Branch Association or betwt'en members of any Branch Association and members of the said Corporation, may be referred for settlement by a voluntary submission to Ar- bitrators appointed under this Act; and the provisions of this Act shall be binding upon the parties to such submission. 18. It shall be the duty of the said Corporation to furnish to each of the Branch Associations, and it .shall be the duty of each Branch Association to furnish to the said Corporation, respectively, regular market reports and other information re- i.*ting to the produce and provision trades, upon terms of pay nient to be settled as hereinbefore provided. 11). The Secretary of each Branch Association, shall tran- smit annually, immediately after the Annual Meeting of .such Branch Association, to the Secretary of the said Corporation, a statement over his signature showing the office-holdei's and the members for the current year. 20. In all respects not provided for by this Act. the said Branch Associations shall have full power to make all proper VICTORIA. P. ^.. 10 and noedful by-laws, Jiot contrary to law, for the appointment of officers, their own Iteeonie affiliated with the said Corporation; and after such rcsolntion shall have been connnunicated to the Secretary of and ace(q')ted by tlie said Corporation, then such Board of Trade shall become entitled to the powers and privi- leges, ane touching , have !igreey and jjer- forni the award to be made under the A>t incorporating *' The Winnipeg firain and I'roduce Kxehange," and we hereby agree to submit onr sanl diHer- encea and idl matter.^ conneoied thece-vith to the Arbitrators appointed under the authority ('f the said Apose any f^ a mem- n writing lecretary ; t Ceneral roposition luan time )oser and bhe usual leeting at whk-li sucli con(lihn\\ vote for his atlniissioii, he shjill thonecforth be a monibcr of the Association, and shall have all the rii^hts, ami bo subjcnt to all the obligations, which the oHier inembcra pos>^ess or aix» subject to, and shall be bound by nil the By-Laws of tlui Association. ') No ineiMlter shall be permitted to use the privile<:f(*s of the Exchange, or to vote on any qu' stion, until he shall have signed tlie By-Laws and Regulations of the Assix'iation in a book kt'pt for that purpose, and have paid his fees for the current year; and on signing this book every niend>er shall receive a printed copy of die By-Laws at the expense of the Association. ENTRANCE FEES. G. An Entrance Fee of One Hundred Dollars shall be charged t) all persons desiring to become mentbers of the As- sociation after the lOth December, 1891. CERTIFICATE OF MEMBERSHIP. 7. Each niendjer shall be entitled to receive a certificate of Membership bearing the official seal of this Associatit)n, and the signatures of the President and Secretaiy, which shall be transferable on the books thereof oidy to a person duly quali- fied and elect'-d to membership, upon the payment of a trans- fer fee of Five Dollars, and any unpaid liability attaching thereto. 8. The Certificate of Membership of a deceased memb.er may be transferred to his legal representative, and any By- law inconsistent with these By-Laws w^ill be held to har- monize therewith. ANNUAL SURSCBIPTION. 9. Each member of the Exchange shall pay an avmual con- tribution, or fee, of $15, payable on or before the 1st January. Any person admitted a member of this Exchange after the 1st January, ^nd prior to the 1st July, shall pay the full amount of $15 for that fiscal year, and persons admitted after the 1st July, shall pay a contribution or fee of $10 for the remainder of the current fiscal year, and these payments shall be made within thirty days of admission in each case. 14 SUSI'KNSION OR EXrULSKiN OF .MEMHETIS. 10. Should nny inoniher bi^ ;j^nilty of will'ul violation of the Constitution or By-Laws— witlilioldini,' paymont of dues after *iUS(>«uMon — reporting' (pi (tutions to the Secretary knowing thi'ni to he false or fictitious— hn-arh of hiisinoss eon; nets, ciilusr written or vt'rhal -or otiier (lish'>noral»le conduet in husiness, that in tht^ opinion of the Council demands investi- gation, it shall he the duty of the IVesident, oi of the Vice- President acting in the ahsence of th'' l*re>ident, as soon as the facts ^hall coni'^ to his or their knowledge, to r.port the s;nne to the Council, and the Council shall theieupon take the mat- ter into consideration. And if tliey, or a majority of them, and alter the party riiarii'.'d therewith has had an opportunity of defending liunself, shall he of opinion that the said mem- ber has acted in such a mann(>r as to hrinij discredit (m tiiis Association as a mercantile hoiIy, they slmll mark th'-ir dis- proval of the sanif^ by suspending him from nii-mber.ship for such a period as they may determine; or sh(aild the C^tuncil be of opinion that the case is one calliiig for the expulsion of tlie member, they shall pass a resolution to that < ffect, and subndt the (|Urstion before tin- next special or general meet- ini;- of thu Exchange. A vote to expel must be carried by at least two-thirds of all tlie members pres^•nt. In the event of the suspi'nsion or expulsion of a member, all fees due by him, if any, shall be recoverable under the Agreement, and his Cer- tificate of Member.ship shall become void. 11. Any member failing to pay his dues for one month from the time when they have beconie due, may, at the dis- cretion of the Council, • e suspended until such payment is made. The names of parties who may have left the country under dishonorable circnmstances, or who are convicted of crime, may be removed from th(^ roll of members by the Council, and their Certificates cancelled and made void. WITHDRAWAL OF MEMBER.S. 12. Every member, who may w^ish to withdraw from the Association, shall give notice thereof in writing, but his wi.sh shall not be acceded to until he shall have paid up his sub- scription to the expiration of the year in which the applica- tion to withdraw shall have been made. 16 s. ation of the f (lues ?it'rcr v knowinijr s C'»n;iMcts, colli I net ill ids iiivcjsti- tho Vico- soon as (he fc the same vc th(; niat- ity of tht'in, opportunity t' said nicin- etlit on this k th'ir dis- nhorsliip for the C'Oimcil yxpnision of t iff 'ct, and neral nieut- arried by at ihe event of diiH !)y him, iiid his Cer- one month ', at tlie dis- payment is the country onvicted of ors by the void. vv from the •ut his wish up his sub- he applica- 4 M'llKS (»F l'i:i .slltKN I. |:!. Ii sha'l be tlu- diii\ nt" thf l'rc-idiiiL( ( Ulifrr wln-n in tlic rifi.r, ;it iiiiy iik; ■lini^, Im ri-L;nlati' the I'l-'U-r tht'rcol' mid to I'-ci'.vi' and put iiKiti'iMs, in inrorin tlu' Kxehaup' ot i ho ])lr ii'ail, nlid (o nnnnunce to tbi' inrftiMi,' wbiit in them hi- in ly think cniicirns tin- nu'r- cinti ' intcri'st. lie sbu 1 kreji onlo , but an appeal may be h-d IV'Pin till- ncei^ioti mI" thf ( bair, lt> tlu' iiKMida-rs pn M'lit. ]t al>i» sliall be the duty of tlu; I'lTsulint, nr in Ids alj-mcf of tbc Vic- l*i('-;idciit, to fall a inei'tini;' of tin' xcban^c; at any tiiiir at thi' request of six iii<'iiibers of the h.xcbanfi^e, ifjvinu^ two davs notice tlieic'if, and statnig the j)Urpose for wbich tbc meeting is convened : pi'ovideil always, that if lioiii the rresideiit and the Vice-PresiJent lie absent, any mcnU'er of tbe ("oinicii shall lie c iinpetent to call siuh meeting in man- ner afonsaid. f THK TllE^SUUEU. 14. The Treasurer siiall have the cliarge of all moneys and securitirs lielongiiiL;' to tbe Association, and shall deposit the same weMn in some Ineorporated l>aid< in this city, to lie designated by the Couhcib in tbe name of "The \\ innijietr (jlrani and Produce Kxchaitnc; " and such moneys sliall 011I3' be drawn out on his cbe(|Ue, couniersiyncd by the President or the Vice-President and the Sei-i-etary, or. in the absence of any of these officers, by such other pi-rson or persons as nay be appointed by tbe i'ouneil for that purpose And it shad be his duty to see all moneys received l»y i\u\ Secretary are accounted for (hiily by that officer Out of the receipts the Treasurer shall pay all accounts which have been approved l)y the Council, and shall enter all receipts and disbursements in a book to l>e provided for that purpose--said book to be balanced and laid before the Council fjuarterly for tfieir in- formation, and, whenever required by the Council, he shall also pro luce an abstract of his accounts. At the Annual General Meeting, the Treasurer shall hand in a detailed statement of the yea'-'s receipts and expenditure — the same having been previously audited and certified to by the Auditors appointed by the Council. le TITE HECUETARY. 15. Tho Srcrotary, undfi- the .su|H'riiit('iiF the Kxehunj^o. jui"! sliall k(H'p tlio books of the Association, and condnot its conospoiid- enco. Ui) shall retain copii's of all olficial K'ttcrsainl preserve all official (locuiuents and papers. It shall he the Secr.tary's duty to ^iv(? proper notice of all ineetin(,rs of the Kxehani thereafter as practicable. And, further, he shall perform such other duties as pro[)erIy pertain to iiis office. The Secretary shall also colltct all moneys accruiui,' to the Exchange, from members subscriptions, rent of officfs, dice, and pay over »ime daily to the Treasurer ; and for the due fulfilment thereof he shall give a GuaraJitce Bond in such an amount as nviy from time to tinje Ik? ordered V)y thy Council. visitor's register. 16. *The Secretary shall also keep a book for the registra- tion of strau'^ers, in which any meml>er intn^ducing a stranger 8hall enter the name and address of the party so introduced, and his own signature ; but none others than members of the Association shall be allowed to transact business on Change. FUNCTIONS OF COUNCIL. 17. The Council of this Association shall have the sole management of all and every the real and innnoveable pro- perty which may now or hereafter h^^ acquired by the Asso- ciation, and shall have power to authorize the President, or in his absence the Vice-President, to grant a lease or leases, of all or any of the houses, buiMings, or premises of, or belong- ing to the Association, for such term of year.s, and for sucli rent or sum of money, as to the said Council shall appear just and reasonable, and most for the interests of the Association ; and shall also from time to time, when requisite, bargain and contract for, and have power to authorize the President, or ih 11 17 i' the Couri- v., mi'l sljiill lul proscrve Sccrt'tary's nnd take con I of the as well as ill stntistics hereafter as other duties shall also III inemlters me daily to of he shall y from time tlie re^istra- in Change, vo. the sole veable pro- >y the Asso- Vesident, or or leases, of or belonjr- nd for sucli appear just Lssociation ; )argain and resident, or the Vicc-Pre'^ident to accept a deed of sale, or lease, of all such houses, liiiilding-', or premises, as may l)e rcfiuisitc and ni'f'i'ssar\' fitr tlu' pros< cuiion ol the ohjects of the Assoeia- tioii, oil sueh terms, and conditions, and in ease of a deed of Icasi' foi sueh period, as the said Council in their diso'ftion shall see lit. IS. The Council shall conduct all the business of the As- sociation, ii'poi ting its proci^edings at each Ordinary Abeting. 1!). The (Jonncil shall appoint Auditors and other ofticers, not otherwise provided for, and regulate their salaries and duties when not otherwise detined. They shall fix the sahiry of the Secretary. 20. The Council shall draw up pctiti(ms and refer the .same to the Association at either a Central or Special Meeting; or in the event of prompt action being neces.sary, the Council may petition Parliament direct. Thi-y shall, if re(]uired hy the A.ssociation, draw up and forward such petitions as the Association may agree upon at any Regular iMeeting. All petitions to be signed by the President or the Vice-Presiecial ineet- I be held on JK^ld on each id bullotino' al business, essary than lours previ- i' summoned it, or in the n advertise- the city ol" > each meni- lid notice to ,'tino-. ided. -•tf 1 1'^ % No debate shall bti allowed except on a motion regularly ljef(jre the chair. T\w previous ([uestion, when moved, must be seconded by at least three niendjers. The President or Presiding Officer shall be judge of all (juestions of order. At Special Meetings, the subject for which it is called shall take precedence of all others. A motion in- the reception only of a Petition, B,eport, or ,)th.>r document, does not bind the Association to an approval of the contents of such petition or document, but must be made before any remarks can be offered upon it. The ord..>r of business, when not changed by order of the President or Presiding Officer, to be observed at all Regular Meetings, shall be the following : 1st Reading of Minutes of preceding meeting. 2nd. Reports of the Secretary and the Treasurer ?rd. Reports of Standing Committees. 4th. Reports of Special Committees. oth. Notices of Motion. 6th. Unfinished Business 7th. Gt-neral Business. 8th. Election of Officers. 9th. Election of Members. No proxy votes shall be allowed. The President, or other Presiding Officer, shall have the ri.^ht to vote as a m.m.ber, an.l also to give a casting vote on alT cas.vs of equality of votes upon any resolution or election. Bv motion reouiarly carried, any resolution or proposed action may be voted upon by ballot, and on any niatter allow^ ed to go to an open vote two members shall be entitled to call for the yeas and nays. RELATING TO ELECTIONS. 27. At the Annual Meeting of the Exchange there shall be elected bv ballot a President, Vice-President Treasurer and Secretary", and eleven other members, who with the President, Vice-Pre.^ideut, Treasurer and Secretary shall form the Coun- k 20 cil, and also a Board of Arbitrators numberingj ton shall be elected by ballot. A plurality oF voti'S to constitute in each case a choice. Th ^ I'lesident, Vice-President, Treasurer and Seci-etary shall be elfcrted by separate ballots and the Council by a "jeneral ballot ; the Board of Arbitration also by a general ballot. 28 In electinj; members the vote .shall be taken by ballot, and the voting to proceed oidy on such names as may have been previously proposed and .seconded. E: RESPECTING ARBITRATIONS. a 29. All questions of disputes or misunderstandings which may arise between inembei's of the Exchange may be submit- ted lor .settlement to tlie Board of Arbitrators, at the request of one or both parties madi? in writing, addressed to the President or Secretary of the E.xchange. 80. Should eithei' party in t!ie dispute refuse to submit to arbitration, the case shall be referred in writing to the Coun- cil of the Exchange, by the party deeming himself aggrieved, who shall produce evidence to the satisfaction of sucii Coun- cil, that he has just grounds for complaint, when the Council shall require both parties to submit their difficulty or mis- understanding to the Board of Arbitrators. 81. If, after such decision has been given by tlie Council, the defendant in such case shall still continue to refuse to submit his cas(^ to the Board of Arbitrators for their decision, such determination on his or their part, shall be considered a flagrant breach of the Constitution and By-Laws of this Ex- change, and shall be deemed sufficient grounds for ."-uspension or expulsion from the Exchanuc : Provided always, that such expulsion shall be decided on after the decision of the Coun- cil shall have been submitted to a general meeting of the Exchange and the same a'^reed to bj- a two-thirds vote of all the m«;mbers present— due notice having been first given to the party or parties that such ineeting will be held, when an opportunity will l)e given them of being heard, either in per- son or by counsel. If 21 ton shall be itute in each reasurcr and the Council I also by a n by ballot, IS may have lings which be submit- the request ised to the D submit to ) the Coun- [ augrioved, .such Coun- the Council ilty or mis- he Council, o refuse to sir decision, onsidered a :)f this Ex- ."•uspension , that such the Coun- ng of the vote of all t given to I, when an ler in per- J^2. It shall be the duty of the Secretary, immediately after the Exchfinge has passed a resolution for the expulsion of any member, to inform such member of their decision, in writing, and forward to liim at the same time a copy of said resolu- tion, and also to taki; the necessary steps to prevent such membtr from partaking in any way of the privileges of the Exchange. 8.'}. If at any time, for good and sufficient reasons, it may be deemed advisable to re-instate a member who has been ex- pelled, it may be competent to do so, provided always, that thM same bo decided on by resolution of a two-thirds vote of a general meeting of the Exchange. 34. An equal number of ArlMtrators^shall be nominated by the several parties in a dispute, and the said parties may either agree to en)power the Arbitrators named by them to call in the assistance of an TTmpire in the event of a tie, or agree upon an Umpire themselves before the case is consider- ed. Parties in a dispute desirous of having Arbitrators nam- ed by others, must assume the nominations of .such as their own. 35. Parties in rlispute availing themselves of the arliitration powers granted by the Exchange Aj:reement must commuiii- catf with tlie Secretary, sign the act of submission in due form before him, therein name the Arbitrators, and insert a clear statement of the case. 3() The fees for Arbitration under the sanction of the Ex- chan<;e shall be as follows : For each award under ?oOO ^^12 00 " " " " SoOO to 1,000 lo 00 1,000 " 1,500 IS 00 1,.^00 " 2,500 25 00 2,.500 " 5,000 50 00 5,000 and upwards . . 50 00 The word award to mean the difference or balance in dis- pute. 90 .■>7. For matters not involving pecuniary transactions, tho fees to be charged in proportion to the time and trouble, and referred, if objected to, to the Council, and on cause being shown to the satisfaction of the Council, the fees of the Arbi- tratoi's may be increased or decreased as may seem to them just and reasonable. 88. The Secretary, upon receiving the award from the Arbitrators, shall notify the parties who un\y have a matter under arbitration, of the amount of the fees ; and on receipt of tlic same, the award will be delivered to them. 89. These fees shall be paid to the Secretary for the benefit of the sitting members as Arbitrators, and in addition, the Secretary shall ])e entitled to S2 for each case submitted. ALTERATION OF BY-LAWS. ^O. The By-Laws of this Association may be altered or amended at any general meeting, on notice to that effect hav- ing Vieen given at a previous general meeting M actions, the 'ouble, anci ause beino f the Arbi- 3m to them from the e a matter on receipt the benetit Idition, the litteil. altered or effect hav- HULES RELATING TO THE SALE -OF Finur and G-rain far FuturE DBlivEry {Adopted ISth October, 186S.) That in future at the Call Board also during the regular sessions on Change, Flour, Grain and all other produce may be bought and sold for future delivery under the following rules and regulations : — ' 1. All sales of Grain shall be understood to be No. 1 Mani- toba Har(»i-iie by the party <>r [);irties to wliom it may be found said nmr'j,iiis are due, takni;;- the avenio-c price of Hke deiivt-rits on the day siieh i)aiik failed as a basis of settle- ment. ^larnrin pur- )r the Vice- ;es in dupli 1 Certificate for w!,o-s(> been made :e Exeliange 3r its rlupli- )r contracts, in and Pro- ule. wit: 18 contract or vvliich r its dupli- rties, oi- on id Produce ate liereof, ider which . . Cashiei-. the party is or then ling to re- any batdc 11. When notice; given to deliver by tlu; .seller (>ellei''8 option) sueii notice s!; dl J)e final and shall hv. l»in(hng on both parties, and the property sold must be delivered. 1'2. In case any ])roperty contracted for delivery be not delivei-ed ut maturity of contract, the purchaser shall notify in writini; the Secretavv of the lv\change of the failure to deliver, and such notict.' shall be read at next Call, and the president or the V^iee-Proident shall l)Uy in at the Call l)oard or at any time durinn' the next twerity-four hoius at his dis- cretion, after lotiee of such default has been read for account of the party directing the purchase. Any loss to the buyer shall be paid by the party in default, and the property .so bought in shall be a good delivery on de- faulted contracts maturir.g that day. In case the President is unal)h; to purchase said property the matter shall be referred to the Call Board Committee to determine the market valu3, whost; decision shall be accepted by both parties as a basis for settlement * m 18. In case any property conti'acted for delivery is not re- ceived and paid for when properly tendered, it shall be the duty of the seller, n\ order to establish any claim on the pur- chaser, to instruct the President or the Viee-Presid. nt to sell it at the Call Board at any time during the next twenty four hovu's, at his discretion after such default shall have been made, notifying the purchaser of such sale before G o'cloek p.m. of that day, and any lo.ss resulting to the seller shall be paid by the party on default. In case the President is unable to sell the propertj'' the matter shall be referred to the Call Board < 'ommittee to de ternnne the market value, who.se decision shall be accepted by both parties as a basis for settlement. 26 FORM OF CONTRACT. Winniper^, 18 In consideration of one dollar in hand, the receipt of which is lierehy acknowledged, have this day sold (or bought h-om) bushels of Winnipeg inspection, at cents per bushel, deliverable at seller's option - J 8 This contract is made in view of and in all respects subject to the By-laws and Rules established by tlie Winnipeg Grain and Produce Exchange in force at this date. s rules I I RIJlES ANP ]lEGlJLATlO]>fS — FOR — The G-DVErnmEnt nf th.B Call Bnard. (Adopted October IHth, 1888.) 1. At the first ineetin«^ of the Council immediately after their election, the President shall, subject to their approval, appoint a committee of live to be known as the Call Board Connnittee. 2. The Call Board Connnittee shall elect the Caller, and a member of the Committee shall act as Chairman at all business sessions, maintain order, and enforce the rules governing transactions. 3. The Committee shall provide for the recording of the transactions as they occur. 4. Every sale shall vacate a previous bid or offer. 5. All offers to buy or sell shall be binding, and all bids and offers remain in full force until the close of the Call on that particular grade. 6. All sales shall be considered as strictly F. O. C. .unless otherwise specified at time of sale, and shall be subject to all rules and regulations already laid down in the by-laws of the Association. 7. No offer or bid shall be accepted by the Caller unless distinctly called out. 8. All offers to buy or sell shall be njade for some specified amount, and when no amount is named it shall be ci)nsies taken as conect. This rule, however, is not to be con- sttued as binding upon parties whose names appear upon th) record, but who can show tliat they were not present at the time the transaction was recorded. 1*2 Before closing the Call, the Caller shall read out all transactions, giving the names of l)oth buyer and seller. I'l The Caller shall proceed by calling, uidess otherwise instructed by the Call Board Committee, in the following rotation : — according to grades. l( « (I Flour, Bran, Wheat, Barley, Peas, Oats, Oatmeal, Corn, Rye. And any other product that may be required by any mem- ber of the B(mrd on their giving notice to the Chairman or Caller before the Call Board commencts. 14. At the Call Board there shall be no trading except through the Caller, and any person so trading outside of the Caller shall be tin(^il one dollar on each trade, the design being to tine both parties to the trade for every infraction of this rule 15. Talking in a loud tone, so as to distract attention, or an}/^ noisy conduct, shall be utterly prohibited, and a fine of oneilollar sh dl l»e imposed for a violation of this rule, and the Caller is authorized to impose and collect all such fines and pay them to the Secretary, and to be accounted for, by him to the Association. 1(3. A daily Call shall be held at noon unless otherwise directed by the Call Board Committee. DCriNlTlON OP TERnS GENERALLY IN ITSK IN IirYINCl AND SKLMS'U G-rainj Finurj Pro due a and Pro visions IN THIS MARKET. (Adopted l-lth Janndry, tH!)i.) V. o. 0. All sales made without specific conditions, will bo consider- ed as strictly free of chari^e (F.O.C.) The seller to be under no ol)lii>!ition to furnish conveyance. F. (). B. To V)e interpreted a.; Free <)\ Board Sailing or Steam Vesskl or Barue — suci: conveyance, unle^-s specially aj^reed on, to be provided by the I uyer ; and in case he fails to pro- vide such conveyance within five days after date of sale, he is recjuin d to take the property as it lies, free of all shipping <'harges, on presentation by the .seller of a proper warehouse receipt. l)uriii<>- the five (lays the property to be at the sel- ler's risk of fire, but after the five days have elapsed, to be at the buyer's risk. When bein^r shipped into vessel,tobe at buyer's risk ; and, if not insured by Inin, the seller to be at liberty to insure the car^o, ami to charge the same to the buyer. The seller to give the buyer not less than five days free of storage from date of delivery. F. o. B CARS. Cooperage of flour under this term being always the duty, and at the expen.se of the sijller. The same to appl}'' to butter and other cask goods. F.O.B. simply, not to apply to sales in which the shipment is made V)y railroad cars, when the term will lie distinctly F.O.B. Cars, and in this case the selli^r has to provide the cars, and receive payment on presentation of original shipping bill. It being understood that due di'igence 30 is to bo used by seller in obtiiininjjj cars, and also tliat the buyer may, ii' ln' wishes, supply cars, but no delay in inaUinuf delivery which may occur throu<,di not ^^ettin*,' cars, sl»all en- title either buyer or seller to cancel tlw transaction, or to de- mand any reduction in the price, although in the interim prices or freight rates may have changed. freight a; satist'nctc are paid. Proper of (jrder. F. O. C. These initials mean "FiiEE of Ciiarcjes." dicated beinir : Tiie charges in- (d) All back charges on the property, such as railroad freight, shuntinf; and elcvatinr;. (h) The current term of storage, the latter being according to the regulations of the elevator or warehouse ni wdiich the property is placed, except in case of any special arrangement made by the seller with the proprietors of such warehouse or olevator, when the buyer is to have the benefit of such ar- rarigement, unless specially provided for otherwise. The property to be at buyer's risk of fire on delivery. The tt-rm "Free in store" to be interpreted as having the same meaning as F.O.C. The seller to give the buyer not less than five days free of storage from date of delivery, IN STORE. The term "in store" is interpreted to mean grain in a terminal elevator subject to one and one-quarter (Ij.) cents elevator charges. The seller to give the buyer not less than five clear days free of storage from date cf delivery ol! documents. ON TRACK. This term to mean the delivery of the property in the cars of the Railroad, in the yard, or on the track where such cars are ordinarily placed after arrival in the city, or at any station on the line of road wdiere the sale may be made. The pro- perty to be Free of Charges in its then position, and delivery to be made by the Railroad advice note, properly endorsed to buyer, with freight and shunting charges duly receipted thereon. In case such advice note be not receipted, the ProMipi days, incl Imined days, inc All sa unless ot All sal on the di F. O. B.- fivc da to be r Receip F. O. C- Receip In S tori house On Trac receipt is subj inuned Payment the hi agreen '^."'.■■:* 31 frciylit Jind cliarrjes to be (l('(luct(*ade on properly endorsed and receipted Railway advice note, except when the property is subject to receiver's weights, when payi) '_nt is to be made innnediately on their being ascertained. Payment in all cases to be made before the closing hour of the bank on the day of presentation, unless by special agreement. 32 DELI V BUY. Delivery will be considered completed on presentation of proper h the property, when presentation of the invoice of tiie ascertained weight within the two days allowed shall be sufficient. CAR LOADS. When Car Loads of Grain, Meal, Feed, and other produce are purchased without any specified agreement as to quantity to be loaded in each, it will be understood that a Car-Load shall mean not less than the minimum capacity of the car. I w