, 1873-04-03
AMENDING THE RULES.
Important Changes In lilo Regulations
Of tho Board Of Trade.
Charges Against Members, and Pen
altieB for Fraud.
How Cases Of Financl2l Failure Are to
Bo Treated in Future.
Alteration of tho Standard Weight
of Boxed Meats.

Alteration of the Standard Weight
Of Boxed Meats.
4 A1argoly attended, mooting Of tho Chicago
Board Of Trade was held yesterday afternoon for
tho purpose OF considering md taking action
upon various amendments to tho rules and rogu-
lations proposed by tho Board Of Directors.
Tho President, Charles E. Oulvor, oallcd tho
meeting to order, and ssatod its object.
On motion OF Mr. II. g. Rannoy, tho rnloH
woro suHpondod and moEabors were permitted
to woar their lnta.
On motion Of Mr.. ". N. Drainard, 1t was votod
to not separately upon such sections as woro pro-
posed to DO changod.
A. NJ. Wright submitted tho point that no
amendments not ger1nRro to amendments A.
roady proposed should not bo considered In
orlor.
THO President rulod TINT such h course would
- +. nEronrs OF BOARD OF DIRECTORS.
Section of n,lle g. relating to tho. Donrd Of
Directors, was amondcd and approved as fol-
lows.
'ohangc OF othorwinc, ,.of apronmenta nalo by then
or tu rovos"lon Of tue 70 nn st tho annua
mont eray tho expenses Of tho Xsa6ciasion for tGo
port Association Ito 80 aascssod for tho
succeeding year. -:
- ROOMS: '''
Section 8 Of Rulc was annondod and npprov-
cd as follows:
ThoY shall cauBo to bo'.proyidcd suitable reading and
exchange rooms, for meetings Of n1encrs which ahaf
be kopt orcn during eortan fixed hours, and from II
ing for tho transaction Of bnBineua. Thoy shall ayo
power 10 ,nake al ecfnl regulations In rogard to tho
oiIAnoEs AGAINST MEMBERS.
Section Of Rt1io 6. relating toollsrgcs ngainst,
and eusponBfon and expulsion OF members, waa
amended and approved, I'll followa:
alnins charges Of misconduct in buaincsa Matters or
Of fatluro to perform any business obligation, pro-
maas aP e rssan S1 Of S nf
4 II shall 10 found that TO- purity so 50
p 9s'gsa ompy III a a & o s srs Ss Ssy pavss
fasd 70 comply With Ind fula any award Of the Com
in conformity with the nulca Of tho Association, ho
shall DO by them suspended from alt privileges Of
planned Of las bcon cqutably or satisfactorily ar
ranged or settod, when o may bo rosored to mem.
borship The party charged shall TO found guilty Of
violation Of any Of tho Rules Of tho Ashooaton Of
making flao ctitious reports Of aalos purchases
Of any act Of dishonesty any other act contrary to
s %i sa to o ssoe
on, either a tho regular a,n!al mcotlng at meeting
called for that purpose and tho member ahal ho cx-
pecd II 80 determined by majority Of tho 1Hn1nEerB
present, tho number Of 1nen'serH 1csent being not
ieas than ono hundred: No member, however, shull
tunity Of being heard III his own defense mud any
member having been e1pel!et ahall be ineligible to
Soe. ospaon III Il sSsSs
shall DO by ballot.
BuYrENe1oN FOR MISCONDUCT,
Soc. 10 of Ruiz. &, rotating to tho suspension
f}111f of
meter, was amended and approved rs fol1ws:
Thoy shnll alao examine charges proforred by ono
menhcr agatnat anotho5 fos tnproler conduct of a
found gully Of conduct In tho rooms o tbs Hoard that
Is crogaory to tho dignity Of tho AHsoctatIon nnd his
privileges Of membership n il T o Assoctaion for o aach
tlno ~ tho Board OF Directors nny determine. 1t
Bhal be tho duty Of tho Board Of Directors to cause tho
proper nottce to DO givon to any member Of his auE-
cnsion expulsion, or restoration under tlts md tho
preceding aeetlon and to cause The samo to DO pub
slon Tor Of contract where, prior to thu
n1o at which such announcement should DO made tho
sf has sa s e. Sas Ssoa r.
tory adtused in which caBc the suspension shnli bo
held in ebcyancs until tho ne1t meeting Of tho Board
FINANCIAL FAILURE.
1tr. LoBter moved to lay Section II Of Rnle s
on tho table. The motion wau seconded by ".
@. Lyon. It was voted down.
Mr. Gurnoy offered tho following amond-
And my member Of this Association who falla to
comply aud 1noct any business obligation or contract
may, complaint Of any member Of this Association,
10 required to mako exhibit Of his financial condi
ton On oath 10 the Directory Of ths Dosrd, which
ehall be open to tho inspection Of any nggrlcvod mc-
bcr; and should such n.embor, falling d. aforesaid,
refuso to make such statement, he shall be expelled
from tlls ABHocintlou.
H1r, Ranney movod to lay tlis amendment
upon tho tahlo. Carried.
SEQ. II WAS then approved as follows;
his nanctal inability to fulfill tho same 1o slal upon
tho representation Of tho facts to tho President by
aggrteyed member, and tho acknowledgment by the
party Of the truth Of tho charge OF on proof of tho
fact to tho Board Of Directors BY that act suspended
standing obligations with members of Tho Hsaoci"ion M m
aro adjusted and settled and shall only be readmtted
to the foor Of the Exchange upon hG presentation 9f
Just caitna against him by members OF the Association
are settled. and II deemed necessary by tho
Tor restoration may 10 poatcd on tho buetin Of tho
Exchange for one week prior to their ooaton to hia
and, in csse nn obscions aro made, It
have becn 6ettod and clann resulting from trnnE
scttons of prior date shall thereafter bc entertained
by tho Board.
Bee. - Of Rule was proposed by tho Board
Of Directors US follows:
When party shall hsve boon duly discharged from
ha no 10 sbo to
pline by the Board on account Of such obligations.
Mr: Wright moved to amond Hoc. u 80 US to
road as folloWs:
When mornher, against whom thsro arc pondng
no complaints charges preferred BY 1non1ber Of
Lilo association. or who III not under sentence Of
suspension oroxrulsion ahall have beon duly diHeag
cd from his legal responsibilities !ebts by Court
OF Bankruptcy, ho shaH not thereafter be hold uabo
by the Boarti on account OF ench obligations
Tho anaondmont was adopted md tho rulo Was
approved az above.
80 THE HEcnETAny's REPORT.
Section of nulo O, relating to the duties Of
tho Secretary, waH 30 nnlendod au to roloaso that
oilcor from tho necoaalty Of including In his an.
nual report tho uHlal elaborate a1ld expensive
compendium Of tho oproyuion trade.
WEIGHT or 1oxED MEATS.
@. J. Blair offered tho following as aubBti-
tute for rection II Of Rule u, relhting to tho
woight Of boxod meats:
Tho standard not weight Of n,tata paclcd IN boxes
shall bb between 400 and 1885 pounds for each box and
in all settlements deliveries Of boxed meats an nv
erago Of $50 pounds per box shall bo made tho basis
for settlement and the aIccss shortage from aaa n.y.
erago shall DO settled ut tho lnarkot value Of tho prop,
erty doycrot ut tile time Of ts delivery. But iii caso
Of delivery, the full number OF packages contracted
for muAt 10 delivered.
Tho substitute waH adopted, md tho rulo ap-
proved as above.
MEa1bEn8l1Ip FEEB AND ASSESSMENTS.
Mr. Drainard moved to amend Bcc Of Rule
7, 30 % 10 exclude from membership po1eouB
under 81 yoara Of age.
Mr. Dow oppoaed thls, and would move TO lay
tho rulo OH tho table. The motion was lost and
tho section as amended WAS adopted, as followa;