The New York herald., 1879-12-12
THE GENITAL SYSTEM.

HOW IT CAME TO BE ADOPTED BY THE PRoD..
ucR ExCHANaE-AN EFFORT TO REscrND III
TO BE MADE TOMORROW.
The members OF the Produce Exchange will vote
tomorrow the question Of resembling the adop-
ton of the Genital system far it relates to tho
grain and -four trades. This action decided
upon by the Board Of Managers at the request Of
these trades set forth in . petition bearing the
signatures of 400 individuals and firms. The SUBJ
ject Of the GENITAL system rst before the Board
at their meeting on December 8, 1873. when resos
lution offered by of the managers who is per.
manent member Of the grain trade. was unanimously
adopted. Itswas to the effect "that the Committee
Trade be requested to consider the expediency OF
selling grain and other produce by the 100 pounds
communicating. IL they thought desirable. with
other exchanges in this country and Great Britain
About the lst of May last the committee had res
ceived responses from the prominent al
exchanges throughout the country, in which they
ment with the exception of the Baltimore Corn aud
Flour Exchange, tho Toledo Produce Exchange and
% I1 ns latter Soay w1s
opinion that 1t was better to await the
suits OF the experiment In Great Britain.
greFsonal action In aid Of its establishment here.
The question was formally submitted to the mem.
was adopted by vote OF ASS to 232. The Board oi
Managers then determined that it should go into
effect on October l.. 1879. and this action was
communicated officially to all the Boards Of Trals
in this country. In the Dominion of Canada,
Newfoundland in Great Britain. and to the leading
Chambers of Commerce on the Continent, as well aa
TO tho several executive departments OF our
ment. with the request that they would lend
their influence to the proposed reform. In tho
meantime the grain trade OF the Produce Exchange
ratified amendments to the grain rules. to make
them conform to the GENITAL system, but they
petitioned the Board Of Managers to postpone
the date for the changes go into effect until Jan
uary l. $780, At frst the Board refused to gram
this request but upon the presentation OF secont
petition from the grain trade they extended the data
subsequently the grain trade resolved at meeting
to rescind the GENITAL amendments altogether. and
asked that the members Of the Exchange should sus
tain them by their ballots.
WHAT THE MANA0kRs sAY.
circular among tho members giving detailed states
ment OF the steps taken by them ana the Exchange
In the matter. and claiming that everything done BY
them with reference to the subject has boon done
with deliberaion and with the FULLEST concurrence
Of grain and -four trades They state that circulars
have been to millers asking them to pack
barrels and bags in accordance with the amended
-four rules, aud that the various nlers' associa-
tons Of the United states have been appealed 70 for
erninent has given them encouragement that they
would adopt the systems that the commercial press.
at home and abroad has hailed the movement in
the interests of trade ana commerce; that numerous
exchaoges have sgnihed their Willingness to CO.
Produce Exchange should rccede from ON tho position
taken by them tho other exchanges will hereafter
DO careful how they yield to solicitations or
have regard tor representations by the former.
The Board contend that IL was not to bo expected
that tho desired reform should. come about all at
once, nor that such change would be accomplished
without causing considerable inconvenieuce tho
part OF many, nor without affecting private in-
terests adversely; but they claim that they could
have Withdrawn with some credit II after several
months or years persistent effort tho systom had
been found impracticabc. Tho grain trade have
been working hard among their feliow-mcmbers to
secure the defeat Of the SYSTEM and 1t was thought
before this circular of the managers issued that
they would be successful. Yesterday, however,
many members who wavering resolved TO sup
port the Board OF Managers. tv