, 1875-09-19
BOARD OF TRADE,

Trying to Consider the Proposed
Amendments to the 1kules.
4 meeting Of the members Of the Board OF
Trade was held in the Open Board room yester-
day afternoon for the purpose Of considering the
amended rules, bylaws, and inspection zogula-
tions proposed by the Board Of Directors After
nearly ha!f-hour's delay, sufficient number OF
members were drummed up to constitute
q quorum-for which fifty members are 1e-
qui1ed-and the meeting was called to order by
Mr. John r. Bensley, Vice-President and Acting
President Of the Bo.rd. Mr.. B. stnted that the
meeting was called under the bylaws for the
purpose OF discussing the amendments proposed
By the Directors. the object Of the discussion
being that members might be enabled to the
better determine whether they would adopt OF
reject the new rules.
Mr. Dunham asked il the meeting could
AMEND THE AMESDMESTH.
The President replied that the meeting could
not amend the proposed amendments. The
meeting WAS called under the present r1les sim
ply for discussion Of the amendments propose d,
under Art. Z OF the bylaws.
MR. Il II. WR1dHT
said he supposed it desirable to bring before the
meeting the loading change proposed and the
reasons for the change The mere announce
ment that the Directors had considered the
amendments did not seem to him sufficient and
he asked if soma one Of the Directors was not
prepared to make Htatemont OF the changes
proposed and the PERSONS for the changes.
Mr- Dunham said that Il the meeting had got
= lot Of amendments that they muet swallow or
reject there WAS no use OF tie meeting It all.
II tho amendments had to be voted up
or voted down, and couldn't be amended,
hn INF hattAr AH hA
Of election. when the voting could be done.
Members could take printed copies OF the pro-
posed rulos home with thom and read the same
by cand1e-liEht, and could fit themselves to vote
in THAI way.
The Preaiden& disagreed with NJ. Dunham,
and held th.s the discussion would bo valuable.
Mr.. Dutch moved that the amendments pro-
posed be read By tho Secretary, which WAS
amended by adding the original sections. This
31r. Wright moved that tho rules b. suspended
for the purpose Of enabling amendments to be
made TO the amendments.
The Chair held that under the rules tho motion
could not b. entertained, tho object Of the meet-
ing baing simply the
DISCUSSION OF TIE AMEHpMEHra
proposed The Chair ruled, however, that it
was proper to express the sense Of the meeting
by resolution approving or disappearing the
amendments, OF recommending others to the
Directors.
v.
Sec. as amended.
Mr. G. 4. Cu1ourtson wanted to know the
reason OF the change Of phrasaology in the
amended section.
Mr. Il. C. Ranney said it looked to him ~ If
the Directors hed oveFstepped their duties. and,
instead OF considering amendments snggestod,
had presented an entire new eet of rules.
Mr. ]. B. Hobbs called attention to the fact
that the DOW rule dispensed with
TR REFEREsCB COMMITTEE,
which there WAS no use for
The President said that. az bs was President
{ln the absence Of Mr. Armour) Of the Refer
once Committee, he w8s in position 70 know.
and asserted that the Reference Committee only
delayed matters. It w4a the most cumbersome
eontrivanco on tho books. II member took Q
the Committee. The Committee referred the
case back to the Directors, and meanwhile settle
ments we're delayed aud defeated. Tho Com
snittee Of Reference Was only delay, and ought
to be gotten rid OF.
Altar further discussion. resolution wss
adopted approving the amended section.
Tho rrlo as to powers Of tho Proaident over
members In cases Of
D1soRDRLY CONDUCT
(Rule soc. q was then TAKEN up. Thu
amendment proposed provides that IN c.ae an!
member shall be guilty Of dilordorly conduct In
tho Exchange rooms, he shall for tbst onense
bs suspended from the privilege OF admission to
sa1d rooms tor such time n may be determined
by The President: subject to appeal 10 the Board
OF Directors" The present rule provides that in
Euch case the President mar impose fne nos
exceeding IS, on failure to pay which the man.
ber DELINQUENT shall be suspended from the
privilege Of admission until the fne be paid.
Mr. George J. Brine moved that the smsnd-
ment be disapproVed. He want willing auy
PreHdeut should have power to eum1nnrilY sus-
pend him. He "as wiling to be trled on kny
charge OF boistsroue conduct, but not 10 be sus-
pended withou. trial.
Mr. Wright urged thst the amendment pro-
dent, uho, il he chose, under it could excluoe
from the Board al who wero not his friends.
Mr. Dnnham raised the poiot Of ordar that
there was not qnorun, preAens.
The Chair l.s'd tlte point we'll taken, md tin
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