The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-01
THE GRAIN TRADE.
ADOPTION or sEvHNrEEN IMPORTANT RULES
BIZ THE PRODUCE ExcHANGE

BIZ THE PRODUCE EXCHANGE
Yesterday morning, at Ito Produce Exchange Z
meeting held to consider tho rules long under
discussion reference to the government OF this i'm
portant branch Of cur national commerce The rules
submitted twenty five in number and involved
some nice points concerning The grain interests The
meeting was largely attended, and the views Of the
committee were discussed with great ability by the
members interested. The first seventeen rules were
adopted with but slight notifications the meeting ad-
journng until Tuesday next at ten O'clock at which
time the remaining eight rules will be acted upon.
The following are the adopted sections
ser their election the President sha u6Jsc. 30 The APP
s IL s ss Is
known members Of the grain trade shall be the duty
posed upon them BY these rules also 70 consider and
ssS' I'll DISPUTES sS g ans Ss msRSs dealing
committee shall constitute quorum, and the committee
IN. commtsee for each reference case BY the party sd
judged 50 be n fault. unless othersss ordered o
Of September Of each establish the grade: q grain,
or ~ The i q which shall b established
q. prime s: before h.ss
orr: % may :: had .s ns s.
Sales grain prime deemed to
Ss %sS b. S% su and rejection shall
three sss: Of grain .o:. made before
lending q SIX Of last day. regard weather
s: Says s san'f e
buyer shall pay seller all charges and expenses incurred in
eenBsequsnce % such delay, including Insurance.
:a. b deemed delivery uniss. ssssa . Il. con-
.h.n ss ss ss
sd Sos Sa he on notice to seller
four following work days without regard weather shall
% R trss q cn wsn or storage 70 buyer
.Ss:: suys! shall .pproys Of quality before the
have the right demand payment the tim. o. passing
.. RcIs son %ngraasd gain no. received within the
TIE right tender tho delivery and demand nave
FORM n Dc y With me 0a as
q Tor % al. S s s
RUIZ :Tner.aed grain, 70 be Of the grad. called
with the standard samples Of The crop sold condi
ton Il shall be cool and sweet but may be slightly soft
i2ungaded grain sold arrive or for future de-
HyIE Unsraded grain sold to arrive on sample muss
the time Of sale Any slight iniero,sy in quality to sam
Of N Ss s: d: s I'm :ss..s
shall be delivered IN prime condition unless otherwise
4 r.n ss :s that the grain
RUIx l5.on sales Of ungraded grain TO arrive II ten
der0d fov delivery before three NJ the Of tender and
the two following working days. without regard
lending 1t six Of last day., shall be deemed buyers
lay days without charge.
RuLK LEON time contracts made between members
whore grain bought e buyers option time OF delivery
shall be as follows the call L made By the buyer
cradle before hilfpast r. NJ Of the day. When
the call s made after twelve o'clock NJ property shall
be due and deliverable before hapss twelve M of the
following business day the buyer specify par
tcusr future day during the Of the option upon which
the shall be duo and deliverable and the property
mated provided ca shall be before the beginning
Of the option and II call is made the property shall
deliverable before haEpast two r. ~ the day ofmaurty
Of contract.
Rule 17-Dclveries contracts for 5000 bushels Of
graded grain multiple thereof shall be made in lots
OF BUSHELS and contracts for loads
In lots OF 100 bushels except for oats which shall be
10000 bushels all within FIVE per less
deficiency be settled for the market price OF the
OF delivery and all deliveries such contracts shall be
OF towage to the buyer.
Amendments to tho bylaws OF the Exchange were
also adopted placing the standing committees the
pleasure Of the Board to their terms of Office aud
authorizing votes on the question or adjournment on
holidays to be by ballot, instead Of RIGA rocc