The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-03
FOR RENEWAL OF CHARTER.

SndhSe Oh sald county, respectfully
/. That it was originally Incorporated
under the laws of said State, by an order
granted by the Honorable William Schley
~ and State
?. That an amended Charter was duly
granted TO your petitioner. by ar order of
the Honorable Henry b. Tompkins. Judge
of said Superior Court, on the Sth day of
July, 1876, whereby The Savannah Cotton
exchange was to exist for the period of
twenty years from this date with the
privilege OF renewal at the expiration of
that time
3. That your petitioner is DESTROYS of
having said Charter renewed for the statu-
ing amended form:
ARTICLE l.
Section ]. The corporate name and title
or this Association shall be THE Savan-
nan Cotton Exchange" by which IL shall
be known, as well as sue and be sued. 1t
shall exist from this date for the period
OF twenty years, and its dQmicile is here
Dy nXed IN the City of Savannah, with the
that time.
ARTICLE II.
section ]. The purposes of this Associa-
tlon snail be to provide and maintain suit
able rooms for a Cotton Exchange in the
Wy OF savannah, to adjust controversies
between its members, to establish just
ana equitable principles, uniform usages.
rules ana regulations, and standards for
cIasslncauon, which shall govern all
transactions of its members connected
win the cotton trade in the City Of Savan-
nam TO acquire preserve and disseminate
Information connected Herewith, TO de-
crease the risks incident thereto, and to
generally promote the interests Of the
trade, and to Increase the cotton business
OF the City Of Savannah and augment the
FACILITIES for conducting It.
sec. 2. In order to be able the better to
carry out these purposes all the powers
OF the Association. except that of chang
ing its Bylaws. are vested in, and shall
9e exercised by a President; Vice Presi-
dent and nine members, who together
shaIi constitute Board Of Directors, to
be elected from time to time, in such a
manner as the ysba ws-ofthe Association
Sec. 3. Said Board of Directors shall an
point a Superintendent and a Treasurer,
and such committees as may be necessary
70 carry out said purposes, including a
tlnance Committee and Committee on
See. 4. Ia Claims of one member
against another, connected with or grow
ing out OF or from, cotton transactions,
party to the dispute, be sub
ject to arbitration by a COMMITTEES
of three members, one to be chosen by
each disputant, these two selecting a
third; the demand shall be in writing. and
shall contain clear and accurate state
ment or the matter in controversy to be
o. No member OF the Board of Appeals
shall be an arbitrator. In the event how
ever. of one of the disputing parties an
pointing an arbitrator, and the other re-
Iuslng or neglecting to do so for three CD
days after notice in writing that said de-
mand has been filed with the Superinten-
dent Of said Cotton Exchange or in case
the arbitrators appointed shall not. within
seven "a days after appoint
award, then the President or off,
Ger presiding for the day shall appoint
an arbitrator or arbitrator to act in the
case or III the vacancy and the Board of
Afoltralon so organized shall report
within three Cd days, unless fur
all the arbitrators in writing. ana filed
with the Superintendent of the Exchange,
g. The award of a majority of the
arbitrators shall be binding upon the
parties to the controversy, Subject only
to the right of appeal to the Board of
Appeals within four 90 days after said
perintendent or Acting Superintendent,
and notice thereof served upon the party
appealing.
Id The Board Of Appeals shall hear and
decide finally all controversies upon which
an award has been previously made by
an Arbitration Committee, and from which
an appeal has been taken by one of the
parties.
controversy and shall be an Investigation
de novo, upon which the whole merits of
the case shall be heard
10 Any number. not less than a major
ity of the Board, shall be Competent to
meet together and hear the proofs and al
legations OF the parties, and a decision
by majority, of those present and serv-
ing shall be deemed to be the Judgment
of the Board and shall be binding on the
parties thereto.
(g) Such decision shall be in writing,
subscribed by the members concurring
therein, and, within twenty-four (2D hours
from the time of the decision, shall be Civ
en- to the Superintendent or Acting Super
intendent of the Exchange, who shall re-
cord the same in the book Of decisions OF
the Board Of Appeals, and serve copies
upon both parties to the controversy.
(h.) All awards OF Arbitration Commit
tees not appealed from in four days ana
all decisions of the Board of Appeals, shall
be final
ID Said Committee of Arbitration, con-
stituted as aforesaid, within forty-eight
Qsy hours of appointment, as aforesaid,
and the said Board of Appeals, within for
ty-eight (48 hours after such appeal shall
have been entered as aforesaid, shall
such controversy or appeal, and shall
cause at least twenty-four (2D hours no.
tice of the same to be given to the respec-
tive parties.
% The said abitrators and the Board
of Appeals shall, for each case submitted
to them be entitled to compensation
Directors and paid by the said corpora
ton. And for each case submitted the
said corporation shall be entitled to GER
tain dues, which shall be regulated by
such of the parties to such controversies
as the arbitrators on final award or
Board of Appeals on final decision may de-
termine, or against such parties who
after submitting a cause, shall dismiss
discontinue or settle the cause before
final decision has been rendered
(k) The foregoing provisions shall not
apply to disputes relative to quality OF
cotton rendered for delivery, or OF reiec-
tions from cotton so rendered. Such dis
putes shall be adjusted under rules which
have been prescribed, or may be pre-
scribed hereafter by the Board Of Dfrec-
tors.
Sec. 5. In order TO enable said Board of
Directors to enforce the laws and rules
which this Association has established or
may establish for the guidance of It's
the above purpose. IT is provided thai
any member of the Exchange who shall
be accused OF willfuily violating its Con-
stitution. Bylaws or Rules. or of fraud
neglecting to comply with or falling 10