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1 2 3

•

-f

The WINNIPEG

I immi

BY-LAWS.

(Adopted »Otli October, 1888.);

RULES AND REGULATIONS

FOR THE

GOVERNMENT OF THE CALL BOARJ).

(Adopted 18tli October, 1888.)

RULES

RELATING TO

SALES FOR FUTURE DELIVERY.

(Adopteil 18th Ootober, 1888.)

TERMS OF TRADE.

* ♦ «

WINNIPEG:

MANITOHA KHKK I'HKSH PRINT.

1888.

The WINNIPEG

1 immi

BY-LAWS.

(Adopted '^Oth October, 1888.)^

RULES AND REGULATIONS

FOR THE

GOVERNMENT OF THE CALL KOARI).

(Adopted 18tli October, 1888.)

RULES

REIiATIN(i TO

SALES FOR FUTURE DELIVERY.

(Adopted I8tli October, 1888.)

TERMS OF TRADE.

WLVNTPF:(} :

MANITOIIA I'UI'.K I'UKSH IMUNT.

ISSS.

SSfetj

//OS)

n^^t

BY-LAWS

OF THE

ifinnipeg Irain k froduce Ixciiange,

ADOPTED AT A BEKERAL MBBTlNg, HELD 26tt! OCT., 1888.

{Keplaciwj tliosc adopted, jtro tern,, dth Dec., 1887.)

the Exchange" occur in tlie fol-

Tho

INTERPRETATION CLAUSES.

1. Whenever the words
lowitig By-Laws, they shall be understood to mean
Winnipeg Grain and Produce Exchange."

"i. Whenever the words " the Council ' occur in tlie follow-
ing By-Laws, they shall be understood to mean " the Council
of the Winnipeg Grain and Produce Exchange."

FINANCIAL YEAH.

IV The financial year of this Association shall coiinnence
on the 1st January.

MEMBERSHIP.

4. Any person directly or indirectly engaged in or inter-
ested in trade or connnei'ce, whether a i-esident of the Citv of
Winnipeg or nt)t, shall be eligible for admi.ssion as a mend)er ;
and at any general meeting of the Association it shall be law-
ful for any member thereof to propose any such person as
aforesaid, as a candidate foi' becoming a mend»er of the Asso-
ciation, and if .such proposition shall be sectnided by any other
member of the Association then present, sucli Candidate shall
be again propose*! and balloted for at th«' next general meet-
ing, not being less than one week after he sliall be proposetl,
and in the mean time the name ijf the per.son proposed and
of the proposer and seconder shall be po.sted in a conspicuous
part of the u.sual place of meeting of the A.ssociation ; and if
at the meeeting at which such candidat«; .shall b»' ballotted for,
not le.ss than four-tifths of the members present shall vote for
his admission, he shall thenceforth be a mendjer of the Asso-

cintion, and sliall have all the riglits and 1)0 subject to all the
obligations which the otlier nieinlteis possess or are subject to.
and shall be bound by all the By-Laws of the Association.

a. No member sliall be permitted to use the privileges of
the Exchange, or to vote on any question, until he shall have
signed the By-Laws and Regulati(jns of the Association in a
book kept for that purpose, and have paid his fees for the
current year : and on signing this book (s very mend )er shall
receive a printed copy of the By-Laws at the expense of the
Association.

KNTRANCE FKKS.

0. An Entrance F'ee of Fifty Dollars shall l)e charged to
all persons desiring to become members of the Association after
the 2()th October, ]8(S8, until the membership reaches one
hundre<l, and after that the fee shall be One Hundred Dollars.

CERTIFICATE OF MEMBERSHIP.

1. Each mend)er shall be entitled to receive a Certiticate of
Meuibership bearing the official seal of this Association, and
the signatures of the President and Secretary, which shall be
transfeiable on the books thereof only to a person duly (juali-
fied and elected to mend»ership, upon the payment of a trans-
fer fee of One Dollar, and any unpaid lial)ilitv attaching
thereto.

8. Tlie Certificate of Mend)ership of a deceased member
nifiy be transfeii'ed to his legal representative, and any by-
law inconsistent with these by-laws will be held to harmonize
therewith.

ANNUAL SUHSCRl ITION.

iV Each member of the Exchange shall pay an annual con-
tribution, or fee, of $1'), payable on or before the 1st Feb-
ruary, inmiediately following the Annual Meeting. Any per-
son admitted a mend)er of this Exchange after the 1st
January, and prior to the 1st July, shall pay the full amount
of $15 for that ti.scal year, and persons admitted after the 1st
July, shall pay a contribution or fee of $10 for the remainder
of the current H.scal year, and these pajnnents shall be made
within thirty days of admission in each case. Should two or
more memliers of a firm become mendjers of the Exchange,
each member of the firm shall, pay $10 per annum, or if ad-
mitted after July 1st, the fee shall be $5 each.

1st
nt
1st
er
(ie
or

SUSPENSION OH EXPULSION OF MEMHERS.

10. Slioukl any inember bo guilty of wilful violation of
the (Constitution or By-Laws — withholding payment of chu's
after suspension — reporting (juotations to the Secretary know-
ing them to 1)(! false or fictitious — breach of business con-
tracts, either written or verbal — or other dishonorable conduct
in business, that in the opinion of th(^ Council <leniands in-
vestig! Mon, it shall be the duty of the President, or of the
Vice-President acting in the absence of the President, as soon
as the facts shall come to his or their knowledge, to report
the same to the Council, and the Council shall thereupon
take the matter into consideration. And if they, or a majority
of them, and after the party charged therewith has had an
opportunity of defemling hin\self, shall be of opinion that the
said meud)er has acted in such a manner as to bring discredit
on this Association as a mercantile l)ody, they shall mark their
disproval of the same by suspemling him from membership
for such a period as they may determine ; or should the Coun-
cil be of opinion that the case is one calling for the expulsion
of the member, they shall pass a resolution to that effect, and
submit the question before the next special or general meet-
ing of the Exchange. A vote to expel nuist be carried by at
least two-thir<ls of all the members present. In the event of
the suspension or expulsion of a member, all fees due l)y him
to the Association for the current year, together with arrears
if any, shall l)e recoverable under the Agreement

11. Any member failing to pay his dues for one month
from the time when they have become due, may, at the dis-
cretion of the Council, be suspended until such payment is
made. The names of parties who may have left the country
under dishonoiable circumstances, or who are convicted of
crime, may be removed from the roll of members by tin;
Council.

WITHDRAWAL OF MEMBERS.

V4. Every member, who may wish to withdiaw from the
Association, shall give notice thereof in writing, but his wish
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.

DUTIES OF PRESIDENT.

l«t. It shall be the duty of the Presiding Officer when in

the chair, at any meeting, to regulate the order tliereof, and
to receive and put motions, to inform the Exchange of the
proceedings since the last meeting, to cause the Reports of the
Council and other communications to be read, and to announce
to the meeting what in them he may think concerns the mer-
cantile interest. He shall keoj) oicler, but an appeal may be
had from the decision of the Chair, to the members present.
It also shall be the duty of the President, or in his absence of
the Vice-President, to call a meeting of the Exchange at any
time at the recpiest of six members of the Exchange, giving
two days' notice thereof, and stating the purpose for which
the meeting is convened, provided always, that if both the
President and the Vice-President be absent, any member of
the Council shall be competent to call such meeting in manner
aforesaid.

THE TREASURER.

14. The Treasurer shall have the charge of all monies and
securities belonging to the Association, and shall deposit the
same iveeldjf in some Incorpoiated Bank in this city, to bt de-
signated by the Council, in the name of "The Winnipeg Grain
and Produce Exchange;" and such monies shall only be drawn
out on his che(]ue, countersigned by the President or the Vice-
President, ami the Secretary, or, in the absence of any of
these officers, by such other person or persons as may be ap-
pointed by the Council for that purpose. And it shall be his
duty to see all monies received by the Secretary are accounted
for daily by that officer. Out of the receipt.s, the Treasurer
shall pay all accounts which have been approved by the
Council, and shall enter all receipts and disbursements in a
book to be provided for that purpose — said book to be
balanced and laid before the Council, quarterly for their in-
formation, and, whenever required by the Council, he shall
also produce an abstract of his accounts.

At the Annual General Meeting, the Treasurer shall hand in
a detailed statement of the year's receipts and expenditure —
the same having been previously audited and certified to by
the Auditors appointed by the Council.

THE SECRETARY..

The Secretary, under the superintendence of
Council, shall be the executive officer of the Exchanc^e,

15.

the
and

shall keep the books of the Association, and conduct its cor-

(

respondeiico. H(! shall rotain copies of all official letters and
preserve all official uociunents and pa])ei's. It sliall be
tlie Secre*xi'}''s duty to give proper notice of all meetings
of the Exchange and Councd, and of comnuttees; also to
attend and take minutes of all meetings, and make an
accurate record of the actions and business of the Exchanire
and Council, as well as all committees of same. He shall
also collect all statistics ordered by resolution of the Council,
as soon thereafter as practicable. And, further, lie shall
perform all such <'ther duties as properly pertain to his
office. The Secretary shall also collect all monies accruing to
the Exchange from members subscriptions, rent of offices, &c.,
and pay over same daily to the Treasurer ; and for the due
fulfilment thereof he shall give a Guarantee Bond in such an
amount as may from time to time be ordered by the Coun^^il.

visitor's rkc.ister.

liJ. The Secretary shall also keep a book for the registra-
tion of strangers, in which any member introducing a stranger
shall enter the name and address of the party so introduced,
and his own signature; but none others than memV)ers of the
Association shall be allowed to transact business on Change.

FUNCTIONS OF COUNCIL.

II. The Council of this Association shall have the sole
management of all and every the real and immovable property
which may now or hereafter be acquiied by the Association,
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, buildings, or premises of, or belonging to
the Association, for such term of years, and for such 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 i'»om time to time, when requisite, bargain and con-
tract for, and have power to authovize the President, or the
Vice-President- to accept a deed of sale, or lease, of all such
houses, buildings, or premises, as may be requisite and neces-
sary for the prf»secution of the objects of the Association, on
such terms, and conditions, and in case of a deed of lease for
such period, as the said Council in their discretion shall see fit.

18. The Council shall conduct all the business of the
Association, reporting its proceedings at each Ordinaiy
Meetingr.

HI. The Council shall appoint Auditors and other officers,
not otherwise provided for, and regulate their salaries and
duties when not otherwise defined. They shall fix the salary
of the Secretary.

/iO. The Council shall draw up ])etitions and refer the same
to the Association at either a general or special meeting; or,
in the event of prompt action being necessary, the Council
may petition Parliament direct. They shall, if required by
the Association, draw ;ip and forward such petitions as the
Association may agree upon at any regular meeting. All
j)eticions to be signed by the President or the Vice-President,
and countersigned by the Secretary, with the Seal af the
Association affixed.

"41. The Council shall have full power to appoint Com-
mittees, who shall report their proceedings to the Council.

COUNCIL MEETINGS.

?J3. Meetings of the Council shall be summoned at any
convenient time by the Secretary, at the instance of the Pre-
sident, 01', in his absence, by the Vic^-President, or of any
three members.

Four shall be a (juorum.

Every member of the Council who may have occasion to
speak, shall rise and address the (^hair. AH motions shall be
made in writing and seconded. No person shall interrupt
another while speaking, and all persons who may have once
spoken to any motion shall, prior to speaking again, obtaitj
permission from tiie Presiding Officer. It shall be lawful,
hovvevor, for the Presiding Officer at any period of the meet-
ing to announce that the subject is open for conversational
discussion, and in such case this rule shall not appl}'.

Tiie Council shall conduct its meetings as follows :

If there should be no (piorum within fifteen minutes after
the hour fixed for the meeting, the (Council may adjourn.

The minutes of the last meeting shall be read and e(mfirmed.

All Reports of Connnittees or other communications shal.
he read and orders taken thereon from the President or Pre-
siding ()ffi(!er, unless sufficiently important t(> be the subject
of a motion.

All Drafts of ijctters, Petitions and By-laws prepared shall
be read.

upt

)nc(.!

ful,

eet-

nal

iftev

m'«l .

l.al.

're-

ijoct

hall

A motion to adjourn sliall be always in order.

NOTICE TO MEMBERS OF MKETINOS.

*^3. Annual Meetinofs shall bo advertised twice in each of
two of the daily newspa|:ers of the city; and notice thereof
shall also be given by circular. Notification by circular, oi*
otherwise, shall be sufficient for all general and special meet-

ings.

OF EXCHANGE MEETINGS.

*44. The Annual Meetings of the Exchange shall be held
on the second Wednesday of January.

?J»>. Regular meetings of the Exchange shall be held
on the first and fklrd Wednesdays of each month for the pur-
pose of the proposal of and balloting for candidates for mem-
bership, and any general business. No other notice of these
meetings shall l)e necessary than posting in the Exchange
room for twenty-four hours previously.

*t^. Special Meetings of the Ex».*hange shall be summoned
at the instance of the President or the Vice-President, oi" in
the absence of both, by a quorum of the Council by an ad-
vertisement in two of the daily newspapers published in the
city of Winnipeg, or by a circular from the Secretary to each
member, the said advertisement to be inserted, or the said
notice to be mailed at least two davs before the time of meet-
ing.

At meetings seven shall be a quorum.

All motions shall be made in writing, and seconded.
No debate shall be allowed except on a motion regularly
before the Chair.

The jH'evious (piestion, when moved, must be seconded by
at least three mendu-rs.

The President or Presiding Officer shall be judge of all
questions of order.

At Special Meetings, the subject for which it is calle«l shall
take precedence of all others.

A motion for the rect;))ti()n only of a Petition, Repoit, or
other document, does not bind the Association to an appioval
of the contents of such petition or «h>cument, but must be
uuide before any remarks can be offered upon it.

The order of business, when not changed by older of the

President or Presiding; Officer, to be observed at all recjular
meetings, shall be the following :

1st. Reading of Minutes of preceding meeting.

2Qd. Reports of the Secretary and the Treasurer.

3rd. Reports of Standing Committees.

4th. Re|7orts of S| 'ial Committees.

5th. Notices of Motion.

Gth. I^ntinished Business.

7th. General Business.

8th. Election of Officers.

yth. Election of MemVjeis.

No proxy votes shall be allowed.

The President, or other Presiding Officer, shall have the
rigl t to vote as a member, and also tc give a casting vote on
all cases of equality of votes upon any resolution or election.

By motion regularly carried, any resolution or ])roposed
action may be voted ui)on by ballot, and on any matter allowed
to go to an open vote tvr-o members shall be entitled to call
for the yeas and nays.

RKLATINf} TO ELECTION.S.

/Jl. At the Annual Meeting of the Exchange there shall be
elected by ballot a President, Vice-President, Treasurer and
Secretary' and eleven other members, who with the President,
Vice-President, Treasurer and Secretary shall form the Coun-
cil, and also a Board of Arbitrators mimbeiini; seven shall be
elected by ballot. A plurality of votes to constitute ni each
case a choice. The President, Vice-President, Treasurer and
Secretaiy shall be elected by separate ballots and the ('ouncil
by ageneial ballot; the Board of Arbitration also by a gene-
ral ballot.

*iH. In electing members the vote shall be taken by ballot,
and the voting to proceed only on such names as may have
been previously proposed and seconded in writing.

liESI'K(TIN(J .MUIITHATIONS.

m^. All (jiu'stions of disputes or niisunderstMndings which
may arise between members of tlie I'^xehiinge may be sub-
mitte(l for settlement to the |-$oju-(l of Arbitrntors, at the re-
(picst of one or both parties made in writing, addressed to the
Preside' 't or Secretary of the lixchange.

licl)
ft'-

my Should either party in the dispute - refuses to suhinit to
arbitration, the case shall be referred in writinir to the
Council of the Exchange, by the party deeming himself ag-
grieved, who shall produce evidence to the satisfaction of
such Council, that he has just grounds for his com])laint, when
the Council shall require l)oth parties to submit theii- difficulty
or misunderstanding to the Board of Arbitrators.

J{|. If, after such decision has been given by the Council,
the defendant in such case shall still continue to refuse to sub-
mit his case to the Board of Arbitrators for their decision,
such determination on his or their jiart, shall be considered a
flagrant breach oi the Constitution and By-Laws (jf this Ex-
change, and shall be deemed sufficient grounds for suspension
or expulsion from the Exchange : Provided always, that such
expulsion shall be decided on after the decision of the Council
shall have been submitted to a general meeting of tlie Ex-
change, and the same agreed to by a two-thirds vt)te of all
the members present — due notice having been first given to
the party or parties that such meeting will l)e held, when an
opportunity will be given them of being heard, either in per-
son or hy counsel.

IVZ. It shall be the duty of the Secretary, imiiu'diately after
the Exchange has passed a resolution for the expulsion of any
nuMuber, to inform such member of their decision, in writing,
and forward to him at the same time a copy of said resolution,
and also to take the necessary steps to prevent such m«'mber
from partaking in any way of the privileges of the Exchange.

lili. If at any time, for good and sufficient i-easons, it may
be deemed advisable to re-instate a mendx'i" who has been e.\-
pelled, it may be competent to do so, provided always, that
the same be (h'cided on by resolution of a two-tiiirds vote of
a gener. ' met'fing of the Exehiinge.

J14. An e(|ual nundu-r of Arl>itrators shall be nominMte<l by
the several parties in a dispute, and tlu' said j)arti('s may
either Mgire to mipowrr the Arbitrjitoi's named by them to
call in the assistimee of an ITinpirr iti the <'\'ent of a tie, or
agree upon an I'mpii*' tlicmselvrs before the case is considered.
I'arties in a dispute desirous of having Aibitiators named by
others, nuist assume the nominations of such as their own.

lia. Parties in dispute availing themselves of the arbitra-
tion powers granted by the Exchange Agreement must com-

municate with the Secretary, sign the act of submismon in
(hie t'oriii before liini, therein name the Arbitrators, and insert
a clear statement of the case.

;JC The fees for arbitration under tlie sanction of the Ex-
change shall be as follows : —

For each award under $ 250 $ 6 00

from S* 250 to .s 500 10 00

500 u 1,000 12 00

1,000 n 1,500 18 00

1,500 M 2,500 25 00

2,500 M 5,000 50 00

n It II 5,000 and upwards 50 00

tJl, For matters not involving pecuniary transactions, the
fees to be charged in proportion to the time and trouble, and
referred, if oliected to, to the Council, and on cause being
shown to the satisfaction of the Council, the fees of the Arbi-
trators may be increased or decreased as may seem to them
just and reasonable.

38. The Secretary, upon receiving the award from the
Arl)itrators, shall notify the parties who may have a matter
under arbitration, of the amount of the fees ; and on receipt
of the same, the award will be delivered to them.

IMK These fees shall be paid to the Secretary for the beneiit
of the sitting members as Arl)itrators, and in addition, the
Secretary shall be entitled to $2 for each case submitted.

ALTEIIATKJN OF RV-LAWS.

40. The By-Laws of this Association may be altered or
ann'nded at any general meeting, on notice to that ett'ect hav-
ing boon given at a previous general meeting.

FORMS.

FORM A.

of
having a difference

TERMS OF SUBMISSION

Know all men that we
and of

as to our rights in a ease touching have

agreed and bound ourselves to abide by and perform the award
to be made under the agreement entered into by members of
this Association and amending By-laws, and we hereby agree
to submit our said differences and all matters connected there-
with;

To the Arbitratois appointed under the authority of the
said agreement (or To named by the

said and to named by the said

with power to the said Arbitrators, to name
a tliird.)

And we agree that the said award of the said Arbitrators,
or of a majority of them, under tlie said agreement shall be
final and conclusive to all intents and purposes between us;
and we agree to pay such costs, fees and expenses as may be
ilirected by such award.

In witness wliereof we have hereunto set our hands and seals,
at this day of ItS

Signed, sealed and delivered in the presence of

FORM OF oath TO HE

C. D.

FORM B.— (1)

taken by members of thk board of
arbitrators.

solemnly swear, that 1 will faithfully,

impartially, and diligently perform my duty as a Member of
the Board of Arbitration of the Winnipeg Grain and Produce
Exchan<j^e, and that I will, in all ca.ses in which I shall act as
Arbitrator, give a true and just award, according to the best
of my ju Igment and ability, without fear, favor, or affection
of, or for any party or person whomsoever: So help me (Jod.

CD.

Sworn before me this day \

of A.D. 18 . j

14
FORM B.— (2)

FORM OF OATH TO BK TAKEN BY ARBITRATOKS WHEN NAMED BY

THE PARTIES.

I, solemnly swear that 1 will faithfully,

diligently, and impartiall}'' peiform my duty as Arbitrator, and
I will in the case, between ^.nd

now submitted to me, give a true and ju't Award, according
to the best of my judgment and ability, without fear, favour,
or affection, of or for any party or person whomsoever : So
help me God.

[litis Oath to he taken before any Justine of the Peace or
any Cotnmist^ioner a/ppointed to receive Ajffidavits in the
Sihperior Courts.]

FORM C.

FORM OF OATH — WITNESSES.

I, solemnly swear that I will tiue

answer make to all such questions as shall ba asked of me as
a witness under examination in this case, between

and and therein I will to the best of my

knowledge, information and belief, speak the truth, the whole
truth, and nothing but the truth. So help me God.

FORM D.

FORM OF THE OATH TO J{E TAKEN BY THE MEMBERS OF THE

COUNCIL.

I, A. B. solemnl}' swear that I will faith-

fully and truly perform my duty as a Member of the Council
of the Winnipeg Grain and Produce Exchange, and that I will
in all matters connected with the discharge of such duty, do
all such things, and such things only, as I shall truly and con-
scientiously believe to be adapted to promote the object foi*
which the said Exchange was constituted, according to the
true intent and meaning of the agreement constituting the
same : So help me God.

A. B.
Sworn before me this ' davl

of A.D. 18 . /

15
FORM E.

Office of the
WiNNrPEG Grain and Produce Exchange.

Dear Sir,

I beg to inform you that you are indebted to the Treasurer
of the Winnipe.or Grain and Produce Exchange in the sum of
$ . which amount covers your liability in respect of an-

nual contributions as member of the Exchange up to the close
of the year (IS ), and you are hereby respectfully requesteJ
to transmit the same to the Treasurer within three davs of
the above date.

I am, dear sir,

Respectfully yours,

Secretary.
[For the convenience of members, payments may be made to the
secretary, at the office of the Exchange The attention of members is
directed to the By-Laws which define the terms of subscription, and the
penalties for non observance of the same.]

FORM F.

Office <»f the
Winnipeg Grain and Produce Exchange,

To 1«

You are hereby notified to pay the sum of $ , being

the amount due by you for annual contributions as member of
this Exchange, within twenty days from the above date, un-
der penalty of exclusion from membership.

For terms of subsciiption and otherwise, see By-Laws.

Serrefarij.

THE end.

RULES AND REGULATIONS

FOR —

Tlie SoYemiDent of the fell Board.

(Adopted. Octolwr ISth, 18H8.)

1. At the first meeting of the Council immediately after
their election, the President shall, subject to their approval,
appoint a committee of five to be named the Call Board Com-
mittee.

*'Z. The Call Board Committee shall elect the Caller, and
a member of the Committee shall act as Chairinan 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 offei".

5. All offers to buy or sell shall be binding, and
and offers remain in full force until the close of the
that particular grade.

all bids
Call on

ft. 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.

H. No offer or bid shall be accepted by the Caller unless
distinctly called out.

8. All offers to buy or sell shall be made for some specified
amount, and when no amount is named it shall be considered
for one Car of Grain, Flour, Meal, Feed, or other produce;
offers or bids for less amounts shall be considered out of order.

0. In no case shall any liability attach to the Caller or
Association for any error mi giving the name of buyer or
seller.

10. Whenever tliero is a disputod claim for the purchase
and sale of property, the Caller shall decide the same on the
spot, subject to an appeal to the members in session.

The appeal must be promptly taken and a majority of the
members present, and voting, shall settle the disputed point
finally.

11. Whenever a dispute arises between niembers as to
quant'ties or prices of articles sold, the record shall be in all
cases taken as correct. This rule, however, is not to be con-
struoJ as binding upon parties whose names appear upon the
record, but who can show that they were not present at the
time the transaction was recorded.

1/4, Before closing the Call, the Caller shall read out all
transactions, giving the names of both buyer and seller.

IS. The Caller shall proceed by calling, unless otherwise
instructed by the Call Board Committee, in the following
rotation: —

Flour, according to grades.

Bran,

Spring Wheat " "

Barley, " "

Pease,

Oats,

Oatmeal,

Corn,

%e.
And any other product that may be required by any mem-
ber of the Board, on their giving notice to the Chaiiman or
Caller before the Call Board commences.

14. At the Call Board there shall be no trading except
through the Caller, and any person so trading outside of the
Caller shful be fined one dollai- on each trade, the design being
to fine both parties to the trade for every infraction of this
rule.

15. Talking in a loud tone, so as to distract attention, or
any noisy conduct, shall be utterly prohibited, and a fine of
one dollar shall be imposed for a violation of this rule, and the
Caller is authorized to impose and collect all such fines and
pay them to the Seciet'iry, and to be accountetl for, by him,
to the Association.

10. A daily Call shall be held at 3.30 p.m. unless otherwise
directed by the Call Board Committee.

» ♦ ♦

RULES RELATING TO THE SALE

Flour and Srain for Future DeliYery.

{Adopted 18th October, 1888 )

Tliat in future at the Call Board and also during the regular
sessions on Change, Flour, Grain and all other produce may
be bought and solil for future delivery under the following
rules and regulations : —

1. All sales of Grain shall be understood to be No. 1 Mani-
toba Hard grade, and not less than one carload, unless other-
wise specified.

%. All sales of Flour, Feed, Meal or other product shall be
understood to be not less than one carload, unless otherwise
specified.

J5. All sales for future delivery (seller's option) shall be F.
O. C. Winnipeg, unless otherwise stated, and the seller shall
have the right to deliver on any day during the time specified,
but nuist give the buyer twenty-four hours' written notice of
his intention to deliver.

4. All sales for futin-e delivery are due an<l deliverable by
11.80 a.m. on the last day of the contract unless previously
settled.

5. When a contract shall mature on a Sunday, or a legal
holi<lay, delivery on such contract shall be made on the suc-
ceeding? business dav.

0. Both parties to the contract may demand at the time,
or subse(j[uently, ten per cent, margin to be deposited and kept

based on the market value— until the contract has been
Margins so called for must be deposited in one
of the I'egular chartered banks, to 1k' named by the party
calling for margins, within twenty-foui hours after they are
called for.

1. The bank receipt for mai'gins deposited shall be made
payable to the buyer and sellia* jointly, and shall require the

good
carried out,

endorsement of both parties to the contract, or an order of
the President of the Winnipeg Grain and Produce Exchange,
endorsed on either the original or duplicate receipt before the
money can be drawn.

8. If any dispute arise as to market price for margin pur-
poses the same shall be referred to the Pi'esident or the Vice-
President, whose decision shall be tinal.

9. The bank so agreed upon shall issue certificates in du-
plicate, not transferable, for all such deposits. Said Certifi-
cate shall state by whom the deposit was made and for whose
security the same is held, that the deposit has been made
under the rules of the Winnipeg Crrain and Produce Exchange
and is payable upon the return of the certificate or its dupli-
cate, duly endorsed by the parties to the contract or contracts,
or an order of the President of the Winnipeg Grain and Pro-
duce Exchange, as provided by Section 9 of this rule.

Said certificate shall be in the following form, to wit :

Original (or) Duplicate.

Not negotiable or transferable.

Winnipeg, 18

has deposited with

dollars, as margin or security on a contract or
contracts between the depositor and which

amount is payable on the return of the certificate or its du-
plicate duly endorsed by both of the above named parties, or
on the order of the President of the Winnipeg Grain and
Produce Exchange, endorsed on either the original or dupli-
cate hereof, as provided by the rules of the said Exchange,
under which the above named deposit has been made,

Cashier.

10. In case of failure to deposit as above, then the party
calling the margin shall have the right to cover his or their
contract at tliscretion, for account of the party failing to re-
spond to the call for margin. In case of failure of any bank
in which such margins shall have been deposited, the loss
shall be borne by the party or parties to whom it may be
found said margins are due, taking the average price of like
deliveries on the day. such bank failed as a basis of settle-
ment.

1 1. When notice given to deliver by the seller (seller's op-
tion) such notice shall he final and shall be binding on both
parties, and the property sold must be delivered.

1!^. In case any property contracted for delivery be not
delivered at maturity of contract, the purchaser shall notify
in writing the Secretary of the Exchange of the failure t(j
deliver, and such notice shall be read at next Call, an»l tlie
President or the Vice-President shall buy in at the Call Board
or at any time during the next twenty-four hours at his dis-
cretion, after notice 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 maturing that day.

In case the president is unable to purchase said property
the matter shall be referred to the Call Board Connnittee to
determine the market value, whose decision shall be accepted
by both parties as a basis for settlement.

13. In case any property contracted for delivery is not re-
ceived and paid for when properly tendered, it shall be the
duty of the seller, in order to establish any claim on the pur-
chaser, to instruct the President or the Vice-President to sell
it at the Call Board at any time during the next twenty-four
hours, at his discretion after such default shall have been
made, notifying the purchaser of such sale before 6 o'clock
p.m. of that day, and any loss resulting to the seller shall be
paid by the party on default

In case the President is unable to sell the property the
matter shall be referred to the Call Board Committee to de-
termine the market value, whose decision shall be accepted by
both parties as a basis for settlement,

FORM OF CONTRACT.

Winnipeg, 1(S

In consideration of one dollar in hand, the receipt of which
is hereby acknowledged, have this day sold

(or l)ought from) bushels of

Winnipeg inspection, at cents per bushel,

deliverable at seller's option 18

This contract is made in view of and in all respects subject
to the By-Laws and Rules established by the Winnipeg Grain
and Produce Exchange in force at this date.

DEFINITIONS OF TERMS GENERALLY

IN USE IN BUYING AND SELLING

Sraii], Flour, Produce and Provisions

IN THIS MARKET.

F.O. C.

All salos made witliout specific conditions, will be considered
as strictly free of char^^e (F.O.C.J The seller to be under no
obliiiation to furnish convevance.

F. O. B.

To be interpreted as Free ox Board Sailing on Steam
Vessel or Baikje — such conveyance, unless specially agreed
on, to be provided by the buyer; and in case he fails to pro-
vide such conveyance within five days after date of sale, he is
recpiii'ed to take the property as it lies, free of all shippint;
chai'ges, on presentation by the seller of a proper warehouse
receipt. During the five days the }>i*operty to be at the sel-
ler's risk of fire, but after th' five days have elapsed, to be at
the buyer'srisk. When Iteiiigshipped into vessel, to be at buy(U''s
risk ; and, if not insured by him, the seller to be at liberty to
insure the cargo, and to charge tlu' same to the buyer. The
seller to givi' tlie buyer not less than fiv<' days fre<' of storage
from date of delivery.

F. <>. ». (Alts.

Coopei'agt' of fiour luider this term being always the duty,
and at the exj)enst' of the seller. The same to apjily to butter
and other cask goods. F.O. B. sim])ly, not to Jipply to sales in
vvhich tlie shi))ment is made by railroad ears, when the term
will be distinctly F.O.H. Cars, and in this ea.se the .seller has
to ])roNide th(> cars, ami receive [)ayment on prest-ntation of
original shipping bill, it being undei'stood that due diligence
is to be usi' I by seller in obtaining cars, and also that the
buyer nuiy, if he wislies. supply cars, but no delay in making
delivery which may occur throuuli not n-ettiny; cars, shall en-
title eitlu'r buyer or sellei' to cancel the transaction, or to de-
mand any reduction in the price, altliougli in the interim
])rices or freight rates may have changed.

2 a

'S 111

■iiii
has
II of

tho

cll-

) (U'-
lini

F. (). V.

These initials mean "FuFE of Charoks."
(Heated heinir :

Tlie cliaroes in-

(d) All haek char<^es on tlie pi'opei'ty, sueh as I'ailroad
freight, shuntiiio- and elevating'.

(/>) The cun-ent tei'in of storage, the latter hein<j^ acoording'
to tlie regfulations of the elevator or warehouse in which th(>
pi'operty is placed, except in case of any special arrangement
made l»y the seller with the proprietors of such warehouse or
elevator, wlu-n the Imyei- is to have the henetit of such ai'-
rangement, unless specially pi'ovided for othei wise. The pi'o-
pei'ty to he at huyer's risk of tire on <lelivery. The term
" Free in stove " to he interpreted as having the same mean-
ing as F.O.C. The seller to give the huver not les8 than five
days free of storage from elate of delivery.

IN STOItK.

This term is to be interpreted as follows: — That the pro-
perty and the buyer is subject to any and all charges of
Storage and Elevating, which may be said to have been pro-
])erly incurred in the Elevator or Warehouse, but not in any
way rendering the buyer liable to any charges, such as fi eight,
shunting, or others, which may have been incurred on the
sLuti before entering such Warehouse or Elevator. The pro-
})erty to be at buyer's risk of tire immediately on delivery.
In all sales F. O. C., and in store, where the |)roperty is liabh)
to any back charges such as shunting, freight, &c., such
charges should be sjieeitie*! by the Warehouseman on the
Warehouse Recei))t; and if such be not the case, the seller to
satisfy the buyer that such charges are paid, or deduct them
from the invoice.

ON TItAl'K.

This term to mean the delivery of the |)roperty in the cms
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 where the sale may be made. Tin* pro-
perty to be Free of Charges in its then position, and delivery
to be mad(! by the Railroad advice note, jtroperly endorsed to
buyer, with freight and shunting charges duly receipted
thereon. In case such advice note be not r<^ceipted, the
freight and (;harges to be deducted from the invoice, unlesH

satisfactory evidence is afforded the buyer that such charges

are paid.

Property to be at buyer's risk immediately after delivery

of order.

CASH.

All sales to be for Cash, and payment to be made as fol-
lows, on the different terms :

F. O. B. — On presentation of the Bill of Lading, unless the
five days provided for have elapsed, wlien the payment is
to be made on presentation of the Warehoiise Receipt or
Receipts.

F. O. C. — Payment to be made on presentation of Warehouse
Receipt or Receipts.

In Store. — Payment to be made on presentation of Ware-
house Receipt or Receipts.

On Track. — Payment to be made on properly endorsed and
receipted Railway advice note, except when the property
is sulDJect to receivers' weights, when payment is to be made
immediately 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.

DELIVERY.

Delivery will be considered completed on presentation of
proper documents in all cases of sales F. O. B., F. O. C, and in
Stor( Vvt any of the )'egular City Warehouses or Elevators
duly posted on 'Change, unless otherwise specified at time of
sale ; also. On Track, except when buyer is allowed to weigh
the pro|)erty, when presentation of the invoice of the ascer-
tained weight within the two days allowed shall be suthcient.

CAll LOADS.

When Car Loads of Orain, Meal, Feed and other j)roduce
are ]nirchased without any specified agreement as to quantity
to be loaded in each, it will be undi^rstood that a (.ar-load
shall mean not less than the minimum capacity of the car.

sliH,