New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-23
TIE GRAIN TRIBE.

THE NEW RULES FOR GRADING AND INSPECTING
oriGIy OF TIE MovEIENr-REsPoNsIBHIrY
OF SELLERS OF GRAIN.
II was stated by an officer OF the Produce
Exchange saturday that the final agreement between
hc Board Managers OF the Produce Exchange ana the
officers OF different railroads terminating at this port
which was effected last week by the unanimous adoption
of the rules by the Board. is regarded by large
majority of the members Of the grain trade, as well
"A by many who are only indirectly interested in
the matter OF the greatest achievements that the
Exchange las ever accom- lished. The proposition to
Grade the grain arriving here by RAIL- lie SAID, came
originally from the roads themselves, on Feb u, 1874
After seyel conferences on the subject, an enrey new
plan was proposed by Henry T. Kneeand Of Carlos Cobb
e co. of is city in April, 1874 which was immediately
referred 70 . committee Of six who were Instructed 70
confer will; the rii.oad representatives on the supect
After many meet set OF rules agreed upon which
was reported to tie grain trade for approval An amend
ment was carried however at the meeting OF the mein
beers OF the trade called to consider the subject by
which tine cost elcyang the grain was thrown upon
the rIilroadsan expense which they hal never borne,
and one in which they believed there no justice In
their assuming. They therefore refused TO approve the
rules with this change, and the question was temporarily
dropped.
In September, 1874, the matter was again taken up
and a special committee appointed to confer with the
railroad representatives. majority Of this committee
reportcd in favor OF making the rules to conform with
the views of the railroad managers advancing the argu
nent that, all the meetings held with them, the Idea
Of requiring them to pay for elevatiDg the gram had
never been brought forward The minority report,
which advocated the retention OF the old amendment
was however, adopted by the grain trade and
the subject was again allowed to drop
until about the close OF the year 1874, when it
viyed once more by correspondence that took place be-
tween the Vice President Of the Erie Railway and Frank
lin Edson Chairman of the Grain Committee of the
Produce Exchange. This resulted In bringing out a
communication nom the President OF the Exchange to
the mcnbcrs ut large on jan Ia, 1870, and
| was followed by meeting OF the members
Sn es days, and at which the original
| rules without the obnoxious amendment, were almost
Wanngeps followed aud the views Of members on both
sides of the question heard. After some legal
e had e" settled the last act OF the old Board was
10 ADOPT the Some amendments were subsequently,
workin order which were brought before the Board OF
Managers last Friday and adopted The rules then
unanimously adopted as whole, and al that remains
appoint an lnspector.n-C Chief, who will appoint his
Tepr. The latter cannot be done until the new
crop begins To arrive in sufficient quantities to
GRADES. The Grain Committee have invited members OF
the Exchange who are interested 81, M the grain trade 70
Chief such nomination be sent in writing TO the Chair
ha si viii be- ready for the Of the
new system by the middle OF september at latest when
York quotations VIII cease 10
ern spripQ Milwaukee, Nos. l. 2. and ; Chicago, Nos 1
aud = az. claimed that 10 will have the effect
10 bring the transactions OF New-YOrk spectators III
Western wheat back 10 this market.
An Interesting question to the grain trade is now pend
ing before the Arbitration Committee Of the Produce Ex-
change BY the rules Of the trade the purchaser is
allowed until $50 D. OF the day on which the purchase
is made In which accept reject the grain but II
rejected by this hour the sale Ii considered completed
also the purchaser allowed three days In which he
| shall take the grain from the boat.
In the case ia question: Doatload OF wheat was sold
by David BOWS & Co. ~ Bingham Brothers. but, the
latter firm did like the appearance of the grain they
brought the matter before the Grain Committee where It
was decided that the grain delivered equal to the
sample by which il sold. Bingham Brothers
then sold the wheat to u third u, rSon who,
on the day following the previous decision.
took another sample to the Grain Com
| mittee who this time decided that the grain was
not suitable delivery. Bingham Brothers have there
fore brought claim against BOWS Co.. ON the ground
that the buyeris allowed tree days In which TO take the
grain the aud that these three days had rot
expired when pows 60. given notice OF this de-
cision the matter in other words that the condition
OF the grain at the lime OF purchase should be garan-
teed the seller for the succeeding three days.
great de; OF interest Is manifested Ia the question
by grain dealer, aad at the last meeting OF the Arbitra-
ton Committee there was large attendance. No de
| oision by the Committee IA Is yet been rendered.