Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1899-10-07

stated under heading Of Board Of
Directors;
Local Inspectors and Local Agents:
Shall be elected by the shareholders
attached to the shipping point where
they are to serve. but said Local In
spectors and Local Agents shall be
subject to the approval of the Board
of Directors of the Exchange, and
said Board of Directors shall have
the power to remove them. fill the
vacancy temporarily and call at once
for a new appointment by the local
shareholders attached to that ship
ping point;
That the powers and duties of the
respective Boards, Officers and Agents
be as follows:
Board of Directors shall have full
management of the affairs of the Ex-
change. method of inspecting the
produce and the choice of the poiut
to which to consign produce, fixing
the pay of the officers, inspectors.
agents and employees of the Elk
change. whether local or general, and
all other powers in connection with
the business of the Exchange not
herein expressly conferred On the
Local Boards; and the Business Man
ager and General Inspector shall be
elected subject to removal by the
Board of Directors at any time, and
in case of such removal they shall
fill the vacancy temporarily until the
election of person for such office by
the shareholders;
President shall call meetings OF the
Directors and preside at same;
Vice President shall in the absence
of the President perform his duties;
Secretary shall keep the minutes Of
the proceedings of the Directors and
such other records as they may pre-
scribe; and when the Directors have
removed the Business Manager or the
General Inspector the Secretary shall
give notice of such fact to all the
shareholders and call a meeting of
the shareholders after five days no.
tice, for them to elect new Business
Manager or General Inspector as the
case may be;
Treasurer shall receive, keep and
disburse all funds of the Exchange,
pay all salaried officers, agents and
employees of the Exchange, both
local and general, the amounts and
Mt the times the Board of Directors
shall direct, and keep correct &C.
count OF his transactions with the
funds of the Exchange and in such
form as the Directors shall prescribe;
Business Manager shall sell all pro-
duce placed In the hands Of the Ex>
change to be sold, buy and sell pro-
duce when ordered TO do SO by the
Directors, and advise Local Agents
to whom to consign produce placed
in the hands of the Exchange to be
consigned; to notify the Local Agent
every morning and oftener during
the day il necessary the prices in all
markets as received by him by wire
and also the price at which to buy
produce and also the price he is
authorized to pay on orders received
by him for produce, and such infor-
nation shall be given the shareholder
when he brings his produce to the
shipping point; and to perform all
other duties imposed on him by the
Directors or bylaws;
General Inspector shall direct and
supervise the Local Inspectors at each
shipping point in their method of
inspecting and shall see that the DIFF.
trent grades of produce at each ships
ping point are kept as near uniform
as possible and of as high standard
as possible;
Local Boards shall look after the
interests of the Exchange in their
particular neighborhood, use all their
influence to induce growers of pro-
duce and land owners to take out
stock in the Exchange, to report to
the superior officers of the Exchange
any defects apparent to them in the
management of the business Of the
Exchange and manage the storage
houses and packing houses at their
shipping point;
Local Inspectors shall receive the
produce from the shareholders or
shareholders tenant bringing the
same to the Exchange to be market
ed, inspect, grade and brand it &C
cording to his directions received
from the Board of Directors;
Local Agents shall ascertain from
the person rendering the produce
whether he desires the Exchange to
sell il for him or to consign it for him
and he shall adYise the Business
Manager of the receipt of the produce
and whether it is for sale or coDsign-
ment and shall ship it according to
the direction of the Business Manager
in the name of the Exchange, after
marking each package with the lnl-
tials of the person furnishing it; if it
is consigned the Local Agent shall
mail to the consignee an invoice Of
the number Of barrels consigned, to
gether with the names of the persons
who have furnished the produce,
their respective post office addresses
and the number of packages each
person has in the consignment, and
the consignee shall make-separate re-
turns to eachNo such persons, after
deducting the five per cent due to
the Exchange, which five per cent the
consignee shall send to the Treasurer
OF the Exchange with a full states
ment of the source from which it
arises; ii it is sold by the Exchange
the Business Manager shall deduct
from the price at which it is sold the
five per cent going to the Exchange
and collect the same from the buyer
and the balance of the price going to
the person furnishing the produce
the Business Manager shall draft for
in favor of the Local Agent, and the
Local Agent shall make return to the
person furnishing the produce, but in
case the draft is not paid on de-
mand, then the Local Agent shall
return the same to the Business
Manager whose duty it shall be to
collect same and turn the money
over to the Local Agent, to make res
turn to the producer; the Local Agent
shall also return to the Treasurer all
inspection fees collected by him; and
when he receives market prices, adj
vice of orders on hand, or orders to
buy he shall keep same posted up in
his office in conspicuous place and