Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-12-05

connmlttee ior Obtalning telegraphic tnfor
lnstion shall be approved By the board OF 81
rect0rs.
Article vI-coNNrrTEE on TRADE
II shall be the duty OF the eonsmittee on trad,
70 consider, and from time 70 time report
such rules and regulations regarding the pur
sasse, sac trsnsisn ete of cotton, as VIII D
thefeey fecilitate and increase business
Article YII-CoARfITTEE ON CLASSIFICATION
AND QUOTATIONS.
The committee on classification and quota
lions shall be composed Of seven memoers
consisting OF three sellers, three buyers, and
one broker, and shall have charge or al Ques
tons OF classihcatiOns and quotations OF cot
ton. they shall Inquire and report As 70 tns
standards Of other principal markets, sno
provide and keep on exhibition samples or tht
standards OF such markets.
! They shall keep on exhibition standards OF
this market, which may be supplied, sealed
| 10 members Of the cotton exchange, on pay
ment OF whatever price the committee may
| consider proper.
Ii shall further be the duty Of this commit,
tee 70 furnish daily quotations OF the different
grades OF cotton, based On the standards oi
/ this market adopted BY this exchange, which
are 10 be posted prominently IN the exchange
rooms.
ARTICLE yIu-FINANCE COMMITTEE.
The finance COMMITTEES snail audit all bills
| exercise C general supervision over the nnan-
1 cial affairs Of the exchange, direct and con-
troll al Investments OF the funds OF the ex,
change, and annually audit the accounts ol
the treasurer, and report 10 the board OF di.
rectors monthly.
ARTICLE Ix-BOARD OF APPEALS.
The board OF appeals shall hear and decide
| finally, all controversies upon which an
/ award has been previously made by an Rrbi-
| traJion committee, and from which appeal
has been taken by one Of the parties, as pro-
/ vlded in article thirteen Of these bylaws.
ARTICLE x-rHE SECRETARY.
| The secretary shall keep accurate minutes
| OF the meetings OF the exchange aud the
I board OF directors; he shall cause notice 70 bs
/ posted on the bulletins, and otherwise, as may
! be directed by the president OF the board, OF
I all meetings Of the exchange, and give notice
in writing Of all meetngs % the board.
ARTICLE xI-THK TREASURER.
| The treasurer shall give bond, with security
| for such amount as the board Of directors may
| require. he shall receive all funds belonging
! or payable 20 the exchange. and deposit them
| in bank In the name OF the Memphis cotton
exchange. All checks shall be signed BY the
| treasurer, and cOuntersgRed BY the president
| He shall pay an bills against the exchange
| when certified by the finance COMMITTEES OF
| authorized by the board; he shah have custo-
/ dy Of the corporal seal. BE shall keep an ac-
| count OF all receipts and disbursements in
book TO De kept for that purpose, subject al
! all times to the examination OF the finance
| committee and the board Of directors; he
| shall render report at each regular meetlng
OF the board, and general annual report al
| the close OF each year, and, at the expiration
OF his term Of Office, shall transfer 70 mis- sue
| cessors ali funds, books, papers, and otheI
prOpeltY OF the exchange II his possession.
ARTICLE xII-APPLIcArIoS FoR EE6BERsHIP
/ All applications for membership must be
| made TO the committee on mem berShlp, and
| such as are recommended by the COMMITTEES
| shall be submitted to the board Of directors,
| and such as are recommended by the board OF
directors shall be posted al the general meet
| ing room OF the exchange for ten days, before
| beng ballOted for, with notice at the time at
which the ballotiDg Will take place. The bal
uiaa lH
and election day shah be every wednesday.
4 The polls shall be opened al twelve o'clock,
/ and close at seven O'Clock in the evening.
| Each eiector shall cast one ballot; II in favor
OF the candidate, the Eord yes" If against,
the word mo-" written or printed thereon.
Three-fOurths Of the whole number OF votes
cast shall be required in favor OF applicants,
/ TO entitle them 10 mem bership. The superiu-
| tendent of the exchange or his assistant shall
act as teller, and register the names OF the
votes as poled. Two members Of the board
/ Of directors, or any OF the subcommittee,
| shall be present at the counting OF the votes
cast, and they shall post the result over their
signatures on the buIletin OF the exchange
with reasonable dispatch No Oname, after be-
! ing rejected shall be again proposed within
six months after such rejection. Each mem
Der shall, within ten days after receiving no
tice OF his election, sign the constitution, and
pay to the treasurer the annual fees as pro-
Vided in article seven Of the constitution.
ARTICLE xIII-CLAIaTs or MEMBERS.
All claims Of one member against another
through brokers who aro not members OF this
exchange, shall be submitted TO the arbitrs-
ton COMMITTEES, and the award Of the arbitra-
tors shall be binding, sub ject only TO the right
Of appeal TO the board Of appeals, which ap-
peal shall be maze within three days after
the decision OF the arbttratOrs. Each srbi-
traitor acting on such committee shall be paid
nve dollars for each case, and the arbitratOrs
in their award shall decide by whom the eE-
penses OF arbitration shall be paid.
ARTICLE xIv-ooMPLAISTs OF MEMBERS.
SECTION /. II complaint is made against
member under Article nineteen Of constltu-
tion, II must be in writing, addressed 10 the
committee on membership, specifying the
particular act complained Of; together with
al the documentary evidence bearing on the
case, and a list Of the names Of witnesses
whom ne may desire 10 be examined on sajd
complaint. The chairman Of the committee
shall cause copies 70 be served On the member
complained OF; and IL shall be the duty Of The
said member, within i've days OF the receipt
OF the same, 10 return them 70 the committee
with his written answer TO the complaint,
and all dOcu uents bearing on the case IN his
possession, with the names Of witnesses whom
he desires shall be summoned The chairman
sh ali, as soon as expedteut, after receipt OF
said answer, or II no answer Is received after
the expiration OF five days from service Of the
copies OF complaint, notify both parties and
the witnesses named, Of the time and place at
which the committee viii meet TO act on said
complaint. II, after the examination, the
COMMITTEES deem the charges SubStantiated,
they shall 50 report 10 sle board Of directors
sECTToN 2 The board Of directors may, at
their discretion, act upon the documentary
evidence, OF may call parties, or such wit
nesses as they may desire 70 examine IN the
case, before them; but one party snail not be
called before the board nf directors without
giving the other party an opportunity Of being
present at the same time.
ARTICLE xv-PowER OF ATTORNEY.
Any member NAV be represented by an at
torney, who must be his bona fde recognized
partner or clerk-On the following conditions,
UO-wit: On the annual payment, into the
treasury Of the exchange, Of the same dues
that are assessed against the mem oers, and
fling written agreement with the secretary,
bindiRg the member for all transactions Of his
attorney. said attorney, who must be ap-
proved by the committee on membership,
shall be subject 10 all rules Of order which ap-
ply TO members, and mas be required TO with
draw from the privileges Of the exchange, for
cause, at the request OF i've members, ad-
dressed 70 and approved by the Presiding Of
hcer; but in case Of absence or sickness OF
any member, he may be represented by an
attorney who is his bona ids partner or CLERK
free OF any additional charge. Attorneys are
not allowed 10 vote or to attend executive ses-
sions Of the exchange.
ARTICLE xvI-MorIoSs.
No notice shall be taken, at any meeting OF
the exchange, OF any resolution, unless sub
mitted in writing.
ARTICLE xvII-vACAECIBs.
All vacancies that may occur
IN the DOarQ OF directors DN
death, resignation or otherwise, may be hlled
by the board at any regular meeting. The
board shall also have power 70 NIL any vacan-
ciss of inspectors OF elections.
ARrGCLE xvIII-BUYIEG AND SELLING.
SECTION /. No broker shall do business in
these exchange rooms for nis own account, or
for Others not members thereof
Article xIx-coMMITTEE ON CREDITS.
SECTION ;. The board OF directors shall sp-
point 'coTrmittee on credits 70 consist OF
three mem bers, whose duty IL shall be TO take
cOgnizance OF all violations Of commercial
Integrity, honof aud good faith, represented
70 them by members OF this exchange. wheth-
er such charges are made against cotton fac
tors, cotton-buyers or brokers OF the city OF
Memphis, or against merchants or planters in
the country.
SECTION z. This committee shall keep in a
book prepared for that purpose, a record OF ali
such charges as may bs made, al alphabetically
arranged. which book shall at all times be
open 10 to the mem bers OF this exchange. II
Is understood, however, that this COMMITTEES
has no control over charges msoe against
members Of this exchange, which latter
charges properly come under the supervision
OF the committee on membership.
Article XIX.
The president shall appoint committee OF
two who shall examine the books o the ex-
change, and report 70 the board OF directors
al their regular meeting in December.
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TELEGRAMS.
A dispatch from BayOnne says that
Don Carlos will winter at durango, q town in
ma. A k.ru - y -