The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-20
ron RENEwAL on cmARrER.

shOweth.
l.. That q was originally incorporated
under the laws OF said state. BIZ an order
granted by the Honorable William Schlcv
Judge Of said Superior Court of said Coun-
" and State
granted 70 your petitioner. hy an order OF
the Honorable Henry B. TOmpkins Judge
OF said Superior Court on the Sth dav OF
July, 1876 whereby "rhe Savannah Cotton
Exchange" was TO exist for the period OF
twenty years from this date with the
privilege Of renewal al the expiration Of
3. That your petitioner is DESTROYS OF
having said Charter renewed for the statu-
tory period OF twenty years In the follow
ing amended form;
ARTICLE 7.
Section /. The corporate name and title
or this Association shall be "The SaVan-
nan Cotton Exchange" by which 81 shall
shall exist from this dale for the period
or twenty years. and its domicile is here
10y hNed in the City of Savannah with the
privilege OF renewal al the expiration OF
that time
ARTICLE IT.
Section l. The purposes Of this Associa-
lioh shall be TO provide and maintain suit
dnle rooms for a Cotton Exchange I'm the
SiJy OF savannah. 10 adjust controversies
between its members. to establish lust
ana equitable principles. uniform usages.
rules ana regulations. and standards for
classlhcation, which shall govern all
transactions of its members connected
win the cotton trade in the city of Savan-
nan 10 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. ?. 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
3e exercised BY President Vice Presi-
dent and nine members, who together
Shdli constitute Board of Directors, to
be elected from tirae to time. in such "a
manner as the Bylaws Of the Association
shall provide
Sec. 3. Said Board of Directors shall ap-
point superintendent and a Treasurer.
and such committees as may be necessary
20 carry out said purposes. including "a
nance Committee and a Committee on
See a. Ca) Claims Of one member
against another, connected with. or grow
ing out of or from. cotton transactions
shall, on the demand of either
party TO the dispute, be sub
lect to arbitration by committee
each disputant. these two selecting a
third; the demand shall be in writing, ana
shall contain clear and accurate state
submitted
% No member of the Board of Appeals
snail be an arbitrator. in the event. how
ever, Of one of the disputing parties an
pointing an arbitrator. and the other Re
tusing or neglecting TO do so for three 90
days after notice in writing that said de-
mand has been filed with the Supcrinten-
uent or said Cotton Exchange, or i'm case
the arbitrators appointed shall not within
seven tD days after appoint
award award , inSEe the rebBort, of their
Ger presiding for the day shall appoint
an arbitrator or arbitrator to act In the
case or ill the vacancy. and the Board Of
Afptratlon so organized shall report
within three CD DAYS. unless fur
Their time be agreed upon bv
an the arbitrators in writing ana filed
/ with the Superintendent Of the Exchange
o. The award of a majority of Tho
/ arbitrators shall be binding upon The
parties to the controversy. subject only
/ 10 the right OF appeal to the Board Of
| Appeals within four a. DAYS after sad
/ award shall have been filed with the Su-
/ perlntendent or Acting Superintendent
appealing.
/ a. The Board Of Appeals shall hear and
/ decide nnaly 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
(e) An appeal shall take IN the entire
controversy, and shall be an Investigation
4 de novo, upon which the whole merits OF
/ the case shall be heard.
a. 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 ana a decision
] DN majority OF those present and SoTV-
! ing shall be deemed to be the Judgment
! OF the Board and shall be binding on the
! parties thereto.
Cg) Such decision shall be in writing.
| subscribed by the members concurring
| therein, and, within twenty-four (2D hours
4 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 Cf Appeals. and serve COPIES
| upon both parties TO the controversy
] A a. got Ton, -. ,.,ff
! tees not appealed from In four days, and
! all decisions of the Board of Appeals, shall
/ be final.
rs Said Committee of Arbitration con-
/ stituted as aforesaid within forty-eight
/ C9 hours OF appointment, as aforesaid,
/ and the said Beard Of Appeals. within for-
/ ty-eight (49 hours after such appeal shall
! have been entered as aforesaid, shall
/ appoint a time and place of hearing any
such controversy llAt , or APP, appesasL and shan
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,
which shall be regulated by the Board of
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
| the Board Of Directors, and taxed against
such Of the parties 10 such controversies
as the arbitrators on final award or
/ Board Of Appeals on final decision NAV de-
/ termine, or against such parties, who,
after submitting "A cause, shall dismiss
4 discontinue or settle the cause before Is
I mai decision has been rendered
QI) The foregoing provisions shall not
( apply to disputes relative to quality of
/ cotton rendered for delivery or Of reiec-
/ lions from cotton go rendered Such dis
putes shall be adjusted under rules which
I have been prescribed, or may be pre-
scrbed hereafter by the Board of Direc-
tors.
Sec. 5. In order TO enable said Board Of
| Directors to enforce the avs and rules
which this Association has established or
may establish for the guidance of it's
members. and with a. view to carry out
the above purpose, 1t is provided that
any member of the Exchange who shall
be accused of wilfully violating it's Con-
stitution, Bylaws or Rules, or Of a fraud
ulent breach Of contract, or Of refusing or
neglecting to comply with or failing 10
paw any final award or decision in ten
(lO) days after the same has been made
and filed with the Superintendent. or
Acting Superintendent, or Of other mis-
conduct, shall on complaint in writing OF
any member specifying the charge or
charges, or on the resolution of the Board
of Directors specifying the charge or
charges-a copy of which said
complaint or resolution shall be
served on the accused at least
ten QO days before the hearing-be
summoned before the Board of Directors
desired he shall no