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And the same notice of the meetings for such elections shall be given as for annual meeting/ Duty nf ClKiirtiKui III'-, -('il.lil IIKU 1.1 have Duties of Setretary- Trcasiirt-r. .\|i|i'jiiitini'm uC Assistanl- Secretarv. Duties of Ciovenilli;; Coriiinittce Meetiuj^s i.* r»overniiijT Committer. OF rilK OKFICKRS OK IIIK COK I'ORA TION. I.'). It shall be the tluty of the Chairman, or in his absence that of the Vice-Chairman, to see that the pro- visions of the Charter and By-laws are enforced ; to pre- side over the meetings and proceedings of the Corporation, and be e.v officio a member of all committees. iU. In all cases, when, on a division, the votes are ecjual, the Chairman shall only have a casting vote. And in the absence of the Chairman and the Vice-( iliairman. any member named l)y the majoritv of those present, shall j)reside. II. It shall be the duty of the Secretary-Treasurer to receive and take charge of all moneys, and render statements of the funds at the annual meeting, and at such other times as the majority of the Ccverning Com- mittee or the Corporation may 'require, and, as Secretary, to record the minutes of the jjroceedings of the Cor- poration and the Covernmg Committee, and to take charge of the books and documents of the Corporation. And shall discharge such other duties as the (ioverning Com- mittee may regard as properly pertaining to his office. 18. The Governing Committee may appoint an Assistant to the Secretary -Treasurer who shall not be a mem!)er of the Board, at such salary and for such period as they may see fit. And may remove him after one months' notice, and appoint another if they think proper so to do. 1J>. The Governing Committee, of whom three shall form a quorum, shall control the finances and ex- penditure, enforce the Rules and By-laws, and take cog- nizance of offences against them, and regulate all matters of detail not herein specially provided for : and generally sui)ervise and direct all matters affecting the interests of the CJorporation. •40, Meetings of the Governing Committee may be called by the Chairman or by any member of the Com- mittee : at least three hours' notice of which meeting shall 1 such v'acancy, nanner as the *" the meetings ual meeting. n'loN. rnian, or in his that the jiro- jrced ; to pre- le Corporation. es. 1, the votes are 111,' vote. And 'i(e-( iliairiiian. those present, 'tary-Treasiirer i, and render eting, and at verning Com- I, as Secretary, 1 of the Cor- to take charge oration. And iverning Com- his otilice. y a])point an tail not be a jr siuli period im after one think proper " whom three nccs and ex nd take cog- ite all matters and generally -■ interests of I Tiiilee may be of the Corn- meeting shall ■« lie given to all nicmljcrs of the ('(unniittee, liy the de- livery of such notice personally, or at their resiierti\e |)lace.s of business. ^1, Decisions of the (loverning Committee may he a])])ealed from to the Corporation at a general meeting hut may not he reversed exce])t by a vote carried by a two-thirds majority of the members present at such meet- ing. *ifj. The Cioverning Committee shall have autho- rity to nuike such l>y-la\vs, iVom time to time, and the same in like manner to repeal or amend, as they may deem in the interests of the (Jor[)oration, subje( t to con- firuiatiijn by a two-thirds vote at a meeting of the (,'ur|)0- ration called for that purpose, after the new or amending By-laws shall liave been posted in the boardroom for at least fourteen days ; and in the notice calling such meet- ting such By-law shall be embodied. .\nd in the event of suspicion being entertained by the Coverning Com- mittee of the contravention of any By-law by any member of the l>oard, they shall have the right to investigate the conduct of such member in the matter under suspicion, whether any charge or complaint shall have been made thereon or not. 'i'i. Members, their Attorneys and Clerks, shall attend the Governing (Committee when required and shall give such information as may be in their possession relating to any matter under investigation. OK .MEMBKKSHIP. 'i4* The name of every candidate for admission as i a member of the Corporation must be submitted by one member, and seconded by another, at any ordinary ik)ard meeting thereof, and thereupon the name of such candid- ate shall be posted in the boardroom with the date of posting thereof; and on the first tlay of posting, such candidate shall be ballotted for. On such ballot, one black ball in five shall exclude him. And the Chairman and two Scrutineers to be named by him shall take such l)allot and declare the result thereof. .lu. lis IV. Ml . .,11 .,r riiiu'.', inill.f. .A niciHiMlcnl ur Ku|ji- il of llyl..iws. I lU fslit;.'ilioils l)y ( loverninj; I'niiiniitteu. 'ropo^ilion for Mc!nber>-iii(i. 35. II for Every applicant for membcrshii) must be of Qi'''»iii'';-'"i"i . the age of twenty-one years. ?J0. If any applicant for admission be rejected, he Kcjection of eniber^hi}!. shall nut be ballotted for again for three months from the \l'J',r^"'- ■"' time of such rejection. 8 rmiililiiMi^ ol Ketireriifiil iif Mciiil)er.'-. l''i)rni of ■rran>!"t.'r 'it. If ;i member of the Hoard should desire to re- tire from the Hoard, he shall have the right to sell and transfer his right to entrance, subject to the election of the ])urchaser of such right, in the manner hereinbefore provided for. And thereupon, if such purchaser be so elected, he shall become a member. Hut no such trans- fer shall be valid unless the retiring member shall have Hrst ])ai(l all liabilities to members of the Corporation in full, or shall have settled them to their satisfaction, and shall a\sr^ have jiaid a fee of $2") to the Corjjoration ; nor unless he shall have executed, and the purchaser shall have accejJted, a transfer of such right of en trance in a book kept by the Corporation for that pur- pose. Hut the Secretary-Treasurer shall not allow such transfer to be entered on the books unless seven days previous notice has been posted in the boardroom of the retiring member to sell his right of entrance, and no ob- jection thereto has been lodged with him. The transfer shall be in the form following : I'or value received from of the City of Winnipeg, Stock Broker, I, the undersigned, do hereby tran.sfer and assign to him my right of entrance in the Winnipeg Stock I'^xchange. And I declare that I have paid or fully settled all my liabilitie.; to every mem- ber of the said Corporation. And this transfer is made subject to the Act of Incprporation and By-laws of the said WinnipegStock Exchange. Witness my hand at Winnipeg, this day of 18 Wit?iess : Form of Accept-iiice of Transfer. I, the undersigned, the transferee above named, do hereby accej)t the foregoing assignment of the right of entrance in the Winnipeg Stock Exchange, subject to the said conditions, and to election by the Board. Winnipeg, Wi/fiess : lid (losiro to re- ht to sell and the election of sr hereinbefore Lirchaser be so no such trans- ber shall have Corporation in atisfaction, and orporation ; nor purchaser shall right of en- 1 for that pur- lot allow such jss seven days ardroom of the ce, and no ob- 'I'he transfer he undersigned, right of entrance [ declare that I to every mem- insfer is made By-laws of the 3ve named, do 3f the right of 2, subject to the 3ard. d 'iH. In the iixsc oftlie (Icatli of anv nu'inher the \h. (.ovcrnin^r Conunitt,,^, ^l,,,ll ,^ll,,^^. his representatives to (hspose of tlie «lecease(l member's right of entrance in the same manner and under the same conditions as such meml)er mi-ht have chine if still alive IM.V III' Mem I If I f Aliui, *,0. Any member may nominate as his representa- tive at board meetmgs one Attornev who shall be either '^■'■"•^ M.•ennK^ Ins business partner or a clerk in "his re-ular employ Attorneys shall be admitted onlv upon a vote to that ef- fect by the (Jovernin- Committee, but no admission shall be for a longer pericxl than twelve months. All the transactions of ever_\- such Attornev shall be made in ilu' name and <>u the respunsibility of his princijial. .W. Attorneys are bound e(|uallv with membeis to ,i,,,iii,„ ,. observe the regulations and IJv-laws of' the C'orp(;ration '"'-nV. and arc jointly and severally with their principals, subject to the fines and punishments which mav be inflicted 'for aff^ur contravention, but they shall have" no voice in the theirs of the Corporation, and shall not vote on anv questions that arise in the course of the daily business. ' :{|. Each member who intends to use the privi- Kcana h,.„.i itge of tjcing represented bv an Attorney shall pay in ad- f"'- \"'"-n"- vance to the funds of the Corporation a fi-e of ten dol lars j)er annum, and shall sign an undertaking, in a form approved by the (lovcrning Committee, that his Attorney wil act for him or his firm onl)', and that he will be as fully responsible for all the bargaims, dealings and other act.s made and done by his Attorney as if the same werc^ made and done by himsc^lf, and the member and attornev shall not transact business at Board meetings at erne an.^">ent oe defaulter. ' shall be deemed a 10 f'urlciturc nf Membership liy l. Every member shall pay an annual subscrip- tion of twenty-five dollars, payable in advance, on the first day of December in each year. I Members to belong to this As.socl.^tion only, I'ic. I'orroilure ot* Membership by .Absence, Sec. JtO. No member of this Cor|)oration shall associate himself with or become a me-.iiber of any other organiza- tion, the members of which deal in stocks or securfties in Winnipeg. Nor shall any member of this Cor]ioration enter into or remain in partnershij) with, or employ in the sale or purchase of stocks or securities, any person who is a member of any such association or organization at Winnipeg, or who is not a member of this Corporation, unless such person be nominated his representative under the provisions of these By-laws. ii7. Any member who shall absent himself from the Board meetings, without leave, for the period of one year, or who shall neglect to pay his annual subscription within a period of three months, after having been noti- fied by the Secretary-'I'reasurer so to do, shall cease to be a member of the Corporation, and his right of entrance may be disposed of by the Coverning Committee, and the proceeds thereof applied in the .same way as herein provided for in case of insolvent members. Defaulters 38. A member who becomes a defaulter by reason iVtionfneiiglbi'e '" ^"y material degree of speculation on his own account, for Members^hip shall not be eligible as a candidate for re-admission to lor 51X months. .1,. ■-„ , .,_. i.iviiiii..:3i.ji! i\! the Corporation for the period of six months. )ratif)ii shall bc- luitcr within the .; to have power he value thereof Corporation, and lay in its disrre- hosoever and in l)ri(e it ])leases, )f in such man- ue regard in the such insolvent, )ers of the C.'or- g Committee is d in such man- tiie j)roceeds of annual subscrip- advance, on the on shall associate • other organiza- :s or securities in this Coriioration or employ in the :iny ])erson who ■ organization at his Corporation, resentative under nt himself from le jieriod of one ual subscription ving been noti- shall cease to be ight of entrance Committee, and 2 way as herein rs. faulter by reason his own account, re-admission to nths. i 119, In tlic evein of a dcfuultcr applyini,' for re- i),(a.ii..TH admission, he must fiirnisli the (lovcrniiif,' Committee ''iipbii!!.' /^r witli satisfactory proof ot" his Ic;,Mi disdiar^'o and a state- """'""'■"""• mcnt of the settlements he has made witli his creditors, and siK h other itiformation as they may require ; where- upon the (lovernin;,' Committee may purmit him to be proposed and ballot'ed for in the same manner as a new applicant. 40. Any wilful misstatement by anv ai)pli( ant wiHi,i „us. for ailmission or rc-admission made upon a iiiatcrial oomt •■'•"v.""-'" ''/ Shall, 11 such ajiphcant be elected, subject hini to expul- ■■^al is declared at the time of c:ontracling, it shall be understood as a con- dition of such contrac;t, that both members contracting are |)ersonally bound to the fuUilnient of the contract, unless either or both of them shall afterwards be relieved from such i)er.sonal responsibility by decdarin,: a principal satisfactory to the otluT, and all members uj the Board shall be bound so to understand and cofslrue ;li • con- tracts they make and not to issue contract notes btaiing any other ccjnstruction. 4."». .All offers for stock or securities made and ac- ceiJted, shall be held to form a binding contract, whether such stock or security has been called by the Chairman or rot ; and in case there are two or more c laimants for the i-urchasc or sale of any stock, the Chairman shall de- -iije the .same, or he may appeal io the members |)resent for their dti toil. If an appeal be made from the de- cision of the Chairman, and the appeal be seconded by two members, the ([Uestion shall be decided by inajority f I Ilk' ;i stati'incnt '(iiniiiittce witliiii le luiard room of And ;itiv cri'di- n llio said tiiiie uoiK'v tliat may "ominittof tor dis all local traiisac •(.■lUiiin on tlie par or selling' stock ho her cliar^'in^' less ; )r huviii},' at the in^ ; or otherwise ng the minimiin de, thall be held ) transactions in 3 be made at a e half ; and the ing a lower aver- .T cent, shall be d is hereby de V. I'or each of- II be a fine of not It the discretion icii)al is declared lerstoud as a con- rs contracting are • contract, unless rds be relieved larin,: a inincipal •s oi the Board or^triic di? ( on- rt llot^^s bearing es made and ac- ontract, whether Y the ("hairman re ilainiants for lairman shall de- ncmbers present le from the de- )e seconded by let! by majority l.i lllisinicifleii Mcn)l>ers at Morning Hoard niirctinK^- of the membL'rs present ; but ii shall not be competent for any uicinl)er interested to vote in tlie case to which lie is party, and the Chairman shall have a casting vote in case of a tie. 40, Any member offering to sell or piircliase anv Offtr, of stock or share at a given price, without the (juantitv of stock being mentioned, shall be held to have made such offer for twenty-five shares. If the security offered be not in shares, then such offer shall be held to be of two thousand dollars ($2000) \mr value. ■41. At all morning Board meetings, liuring the Privileges of call, the meml)er last accejiling an off^r of sale or pur- chase of any stock shall have the privilege of refusing or accepting the next offer of the same stock at the .same price provided he immediately declares his intention so to do. 4S. Any member during the call who mav give a Order of CaiK ([notation as buyer, loses his jiosition on any other mem- ber giving a higher price, and cannot claim to be the buyer at his old quotation unless he repeat the same. And the i)rinci])le of this rule shall also apply to a mem- ber giving a cjuotation as a seller. 4JK In the event of a sale and purchase of De- bentures, Bonds, Dominion ^ ock or Citv of Winni|)eg registered Stock, where no _ntion is made of the inter- est accrued thereon, it shall be understood that such ac- crued interest shall belong to the seller, and shall be paid for as part of the sale. 50, All transactions made on any one dav are to be settled before two o'chjck, p. m, on the bank day next following, excejjt such day be a Saturday in which case the settlement need only be made on tiie .\Iondav following, unless otherwise stipulated at the time of Nale. 58, No fictitious sales or contracts shall be made Kiciiiious ;,ai.- at this Hoard. Accrued Interc.-l on Debciitiirci, Setllemeiu (jf iransactions. •i'^ '*•>. In all sales of stocks transferab Die m this city, 'V""^l" "•" • I 1 11 , , • , • , •' I'urcnase either jiarty shall have the right to requue the [(urchase Money, money to be paid at the time and place of transfer or de- livery. oJS, In any bargain made at a Board meeti ng ex- Ocp( cepl for cash a deposit of ten per cent, shall be put up ir^iains inane .It Hoard Meetillg^ 14 i halt's tor hiiiirL- I >rlivfi\'. ami kcjit ,^och1 by cither or botli of the parties, if so re- (luesled by llie other, and such clejK)sit shall be made in ;i^ bank, in the name of the Chairman and Sccretary- 'IVeasiirer in trust, in a special account to be kept for such deposits. .\iul the amounts of such dei)Osit shall be paid over with such interest as may have accrued thereon, if anv, to such jjcrson as the two contracting parties may diret t ; but in the event of disaj,'reement between the con- tracting parties, the amount shall remain on suih deposit until a settlement is arrived at or competent authority ob- tained for the payment thereof 54. In all cases of sales for future delivery or pay- ment, every intermediate advantage shall belong to tlie purchaser, unless otherwise declared at the time of sale. <. imtracts 'I'raiisf clost'ti er hook; 55. riini; Harguins Kate of IlUert.'^t. .Ml contracts in stocks falling due while the transfer books of such stocks are closed, shall be complet- ed on the opening of the book.s. 'tih In all time bargains the rate ol interest shall be six i)er cent., unless otherwise specified, to be calculat- ed by days according to bank usage. And that no mem- ber shall charge (customers) a less rate of interest than si.x (« > ) per cent, per annum for carrving stocks or allow in any case interest on short sales. .'51, The seller of securities is responsible for the geiuiineness and regularity of all documents delivered, until reasonable time has been allowed t(; the purchaser tor verifu ation and registration .■»H. Ivich and every member mav report publicly to the Corijoration, at any Board meeting, the name of any persiju, other than a meml)er of the Hoaril, who shall violate his engagements with him as a broker. HiK I'he names of all j)ersons whom the Covern- ing C'onnniitee shall determine to be defaulters, shall be registered in a book kept by the Secretary-Treasurer for that i)ur|)ose. And so long as the name of a defaulter continues registered as such, any member who shall exe- cute, any business for him, shall be deemed a defaulter wilhm the meaning of these by-laws. Noii-fuHiliuciu 4»dK oi 1 1 I ofContiaLt. wt». Miouhl any member neglect to fulfil any con- tract cnttM-eil into by him with any other member of the Cori)oration, according to its terms and the rules of this ("or|)oration, after having been duly notified so to do, the Ki--i)oiisil>illtv of Seller. \'iolalit.iii (jf l''.iii;.i^ements KfKistued I lefaMlui-. |)artics. if so iv- sliall be made in n and Sccretary- be kept for such de])osit shall be ; accrued thereon, :ting parties may between the con- 1 on such deposit tent authority ob- s delivi ry or pay- 1 belong to the he time of sale. g due while the shall be complet- ol interest shall ;d, to be calculat- ind that no mem- of interest than ig stocks or allow ponsible for the iiients delivered, :o the purchaser report i)ublicly ig, the name of Hoard, who shall oker. oni the (Jovern- auiters, shall be iry-Treasurer for e of a defaulter r who shall exe- mcd a defaulter to fulfd any con- member of the :lie rules of this fled so to do, the tc t;- 111 si in ar til cc wi a th th pa th by 15 party rontrnrtin- with him may. after givin- notice of his intention, employ one of the ofliccrs of the Corporation to purcliase or sell (as the case may be) the stock or se- c:unty to which sucli contract relates, at the first Hoard meeting or the day following, and shall account with the member in default for any surplus, or charge him with any ddiciency. And in case of there being a deficiency, such defaulting member shall make good such deficiency at or before the next Hoard meeting, or shall be held to be a defaulter within the meaning of these by-laws. «l. In the eyent of any dispute arising between members in reference to any transaction entered into be- tween them in the exercise of their profession as stock brokers, such dispute shall be submitted to the decision of two arbitrators, who shall be members of the Corpora- '°": ""^j^^/^^".'-^'""! '^y.'-^ach ]xarty, with power to nom- nate a third arbitrator, who shall also be a member of the Corporation. And the decision of the majority of such arbitrators dehyered in writing to the Secretary- I reasurer, shall be binding on the parties. iiH. The procedure for the nomination of arbitra- tors f^or he conduct of the arbitration, proyided for by tne last preceding section, shall be as follows --The member believing him.self to be the injured party hall deliver to the Secretary-Treasurer a memorandum m writing, stating in a summary way the matter in dispute and the redress he claims, naming' his arbitrator And thereupon the Secretary-Treasura- shall communicate a copy of such memorandum to the opposite party, whoshall within twenty-iour Iiours, file with !he Secrctary/r Usurer th" nTmMn'",'" r"'"^i '^"^''^'^■"S '^'^ statement of ll'r'.H /"''"'" '"'' "^'"'"^^ '''« arbitrator; and hereupon he Secretary-Treasurer shall communica e the apers so filed with him to the two arbitrators named and hey shall proceed to the nomination of a third arbitrator i^-tpt with the papers. 03. The three arbitrators so named shall forthwitb notify the parties of the time and place of their fir tstt it and shall recpure then, to be present, and produce S hem any documents or papers respecting the matte n ssue. And at such time and place or at any other time and place to which they shall adjourn, or o/whch lev bha .subseciuently give notice to the parties the ■ Sr- ors shall hear the parties ; shall make such c^quiriisand re ce.ve such evidence a., they may deem nicessar and Mcmbfr> Noniinatioti of Arbitrator.^. Duties of .Arbitrators. 16 Award, it* nut explicit, t'l !x' rct'crrt'il (o ( 'hairniaii. Defaulli.Ti lor non-coiil'.irinilv to awaril of Arliiiralur^. Storks carried lor Hc-faidiers Husincss for Defaulters. I'laiin on Defauliei- Accouiit. Kines sliall make their award in writing to thtj Set ivtary-Trcas- iircr, deciding the siilijecl matter in dispute, and ujjon tlie costs of the reference. And l)otli parties sliall conform thenisel\'es to sucli award in all respects. ii4. If there be any amljigiiity in sucii award, or any matter connected therewith rec]iiiring further regula- tion, the same shall I)c referred to the Chairman, wiio shall give iiis interijretalion of the same in writing, and make any further order which he may consider recpiisite to do justice between the parties in ronformitv to the sj)irit (jf the award. 0."». If any member shall take any jiroceedings at hwv in respect of any dispute whicii is hereinbefore ordered to be referred to arbitration in the manner herein provid- ed, eitiier before or after a reference to arbitration, ac- cording to these by laws, or if he shall fail to conform himself in all res])ects to the award made by the arbitrat- ors upon any such matter, or to any .subsequent order made by the Chairman for the better carrying out of such award, he shall be deemed to be a defaulter within the meaning of these by-laws. 00. A member carrying .stocks for, or having stocks carried by, or having an opien contract v. ith another mem- ber who becomes a defaulter, inust sell the same at the first Board held within twenty four hours after such de- faulter has been reported and posted in the boardroom as such ; otherwise the ])rices quoted at that Board will be held to be the basis for the adjustment of his claim. i»l. No member shall do business for a defaulter without the consent of the Governing Committee. 08, No payment or claim on a defaulter's account that dues not arise from a Stock I^xchange transaction shall be admitted by the (Governing Committee. OF FINES. OJK All fines shall be i)aid, by the person fined, to to the Si.'cretary-'i'reasurer, on the first .Monday of the month next following the month in which the fine is im- ])osed, jjrovided notice in writing of such fine be given to the offender at least three days |)revious to such Mondav, otherwise such fine shall be paid on the Monday next following and more than three days after such notice. .\nd the nonjjayment of a fine — according to the pro- visions thereof — shall incapacitate tlie member fined from doing business at the Board, until such fine be paid. 9237 ic Si_'i rctary-Treas- qjiitL', and u|)on the :ics sliall conform m siuli awartl, or iiiL; furtlicr regiila- !L' rhairnian, wlio nc in writiiii^r, and consider rcciuisitc conformitv to tiic .ny ])roccc(lin,i;s at jrcinbcforc ordered mer iierein provid- to arbitration, ac- II fail to conform de l)y tile arbilrat- subsequent order arrying out of such taulter within the or, or having stocks \v itii anotlier mcm- I the same at the irs after such de- 1 the boardroom as 'lat Board will be of his claim. ;ss for a defaulter Committee. defaulter's account change transaction )mmittee. he person fined, to .t Monday of the ich the fine is im- ch fine be given to is to such Monday, the Monday next after such notice, jrding to the ])ro- nicmber fined from 1 fine be paid. i If THE WINNIPEG STOCK EXCHANGE. Capital, ,:^ 10.000. ^;o shares. $250 each. lU:il^4UUilSaiS3 % AdAMSON', RuliKKT - Ali.owan, W. I". Berryman, I. H. . y Boxer, C. A. boyi.e, vv. i,. ♦ Buchanan, W . !•. / Campbell, A. F. ,- Carman, T. H. ^ Champion, H. T. .- Clark, S. P. X Drummond, C. S, > Feildk, J. F. -^ Hood, \V. N. Howard, Thomas ^ Hunter, R. H. Macarthur, Duncan Manning, R. F. Matthewson, F. H. >IcDcr^rA7.B,,JoHN - • MoKKAT, Alex. • Patton V. I,. Kenwick, Thomas v "'-llogs, A. VV. — . . Rutherford P. ^ - RUITAN, J. F. • RuiTAN, R. A. ' SCOONES, T. I. \\, SlRATHV, ]<:. \V. Si'EWARr, Fred. |. • y Stuart, F^knest v Sutherland, Huch • Sweeney, Camphell v x Taylor, li. H. ^ . Thompson, Geo. F. ^ } VVainwright, (;. H. R. y Walker, John v Winks, Gf:oRGE ^ -Young, David ^ Young, Robert i-