, 1865-10-14
BOARD Of TRACE.
Special Meeting..-The New Rules and
By-Lans...Important Amendments.

@1A n AAAk
The Board Of Trade held list evening another
special meeting, for Tie purpose Of adopting new
system Of General Rules" and By-IArs."
President Randolph called the meeting 10 orde.
member p1eeent.
TT Ihe following @ pEesnhe was read:
"na,ing desiEe 70 advsnoe the commercial
OF he city q ch!go md wishing 10 inculcste Just
aud equitable principles in tfade, establish and
MAINTAIN n uniformity IN The commercial usaSes Of
The tE. acQutrc preserve and disseminate vhlnsble
business 1nioElradou, md with view to avoid end
aduf' an fnf - praeticatle the controversies and
,nd,vitpaf eng: ged ia ,lade when lhcs have no
knGwleased rnlea 10 guide thca-we, the members
otthc Board o1 Ttaue Of, the city of Chicago; by
charter, do hereby agree to he governed by the fo
lowing Rules and Bylaws"
MI. Mitchell objected to the preamble. a. -
piece OF eprcad-ea0io otutory. and In bad Mste,"
and wished to have tle old rules repealed be-
lore cntcrtng nron the adoption Of he new onea;
wu. made IN rnle II Of the new znles, 50 thst =
ecpa1ate motion to that effect was unnecessary, and
ns No sccGndcr appeared for his motion to reject,
TIE rules were then taken up for approvnl, one
some Of the members insisting that tho President
u thas Il shoud M Belong Is Tie Faanesl com@ittss %
aud further that neither President uor Ftnanclal
Committee should have The right Of expenditure Of
s Haa IN IT, esras o1oa 10 insert in tbs
m sf e hs Sea asaa 5esSe 1ss & H.
'nrd no money ehall be paid except on The vote on
each sum proposed TO be pald-' I long discussion
cnsued, slr. Low and some other members object.
ING that the amendment was uselese, and
wou1d only bumper the Board of Directors.
The amendment WIS finally adopted. a1r. Rich
s S e., h, 'ht h., Hs I'D shgGa ;9
;IaIs before Ibis Board, Before the Committee Of
Arbitration and the Committee Of Appeals and then
Ie expelled No action was taken IN this rrepect
however, in this connection, End the rule Was ap-
| proved.
On rule 6, it vas moved that the annunl zcport
should be made the first Of Januay, instead ofthc
II 8 usade b Sd. blainard il the grain ,aie:est,
interest @ hs Motion 10 M amend s4 lost st. ana viii
slight verbal eorrect1on the rule WIS approved
Oh rule s. Nj. Mitchell moved the insertion Of
Of The Committee o! Arbitration or Appeals, failing
to attend when their services required, sha! be
1ned 1oE the ute Of The association, three dollars.
made 10 The ateocinnon." In urging this amend
mcnt, Iii. Mitchell cited case where IN IN impof-
Appeals appeared, and he parties n the csse had
! to make up the committee from :. .eca1lyHags,"
picked up on the street, who In few minutes r.
tcrsed the previous acttou or the Committee on
The farther amendment was otescd by Mr. Mel
son, TO tt1lke out the words without recourse to
any o,her court or tribunal" which, aitef some
| distm sion was lost By Largo majority.
Mr.. Underwood offered some amendment tn the
tlitd paragraph Of The rule giving the rish, 10 psr-
new evidence, in person}or in writing, under oath.
In order that tue case might be rent hack to the
Committee Of Arbitration for nea trial. The
amendment Was adopted, md the rule approved
On rule 10, Mr. Nelson moved a. an amend
mcnt, Instead Of the words .'she wine Of such
propes,v slall be des1ainsd by The sye1s:s market
purchaser Inay at his option receive the property
the ncz busiEess day. or satle With the sellcr at
f Tns % WI was sdop,ed a sna &c ru1e
was npproved.
On rule Il, Ms. Richards moved a. an smcnd.
lest FIVE dayk to run fom time OF deitsery without
| extra E1oTarc On the warehouse receipts-N Mr..
Carter offered ~ I'D amendment 10 The amendment
to substitute *sthIee" Instead OF @sdse. Mf. Ear-
te1'e motion w1s carried and Mr.. Elchards' lost.
The rematndes q the rules and bylaws we're
adopted with but Slight verbal alterations:
| by-laWs were ttcu adopted ty an unanimous yote.
They now statd ~ follows:
GENERAL RULEv.
RCLE1.
r The name Of tlls Association ehall be *.Ta1
= Board OF TRADE or TIE C1TS or CHICAGO.
: nuIE n.-1ovEnSMEsrA AID ELEcT1oEs
The government OF the Association .hsll be ye<te
N Pre= ldent two Vice Presidents twho ehal als
hs President ans Vice hTesiaent Of the y Board @ 9
= shaii !" resiaenis q d. ely os ch|
: caco. The President and two Vice Ptesl
dente shall continue In Office one year: and ihc d
. elcsaed and assume sheir dulles. Flye Of ths ID
+ known u the :" Board Of DIreclors,' and seven {
: ! transaction Of bustnees.
= = There 81 Ill be chosen each year i've members {
: the Association. who shall hold theff offices fo
= ! tu<, Nth N1pftNn III
prsytoas .eas, sha11 constitute tie "co'ntnit'ee
.hsll be elected for two years who with their a,
soc4ate. elected the previous seas ehail constitut
' the "comunitiee oFAppesls:n Provided, That .
r elected tn members 70 each 81 the Committees {
A1htaoa and aad !, esa oe deead
Committee rhE se1Ee for one. end which five 10
he annual e'eetiea e. President, Viz Pres,
ceaaf 9emtttee q ap, sa b. e by ssiot md ss
be held at tic Exchange Hoo1ns between The hour
Of 10 d nn., and p. M. on The 1r-t Monday +
APRIL and the Term Of Office hall commence On III
second Monday In April in csch year-
For President and each Of the Vice PEcstdents IT
majority Of the whole number OF yo1cs cast ehaI b
necrffaIy to choice; hut the frc persons ft:fTln
the greatest number Of votes for Directors. the ~
| recelstnE The Eteatett Number fvT Committee
bet ior Commits @ nil &c Of * Appeals Shall be elected
II ut tAe annual election there should BE- failnt
I TO elect President, or either Of the vlee rrss
dents noothe1 election ahal take paee On the 4 e
:. lowing Gay ut the same time and place. ana II
ench election there should be failure 70 clect suc
+ officer another election eha1l take place on the ne,
day thereaftet when the pereon receiving Inc en
&c e-i nursher Of votes 1or President or Vice Pres
dent, rhall le DECLARED duly elected.
RULE m-pr71Es or FaEsuEsr.
T. II shall fe the dutv Of the President to pecs3t
=, ~ nreervc tsr NJ ", rncrtfr. al the associ
~ ifon. Of Of he Boari of DIRECTOR. to drccs i
~ ,nfnntss n fhr nvrvnne mrrtinr rrnorta al coI
.ttass y. " nhr T,rars ~ H. I'D mi n caI1 =
j tn mce;,ne,F Mhen he or fhe Doafd Of D,sacto
ID nrys deem Il expedienl, Upon tie written reque
>. Of len members he shall cai1 uucetI1r, notice
ts fhc same le1nc rfyen on Ch,uce aud In two Of Il
y Ch{caro aijy ncEspaper for al 1csi three dass