Year: 1875

PANTS AND THE EXCHANGE.


Perhaps subject has engrosscd more attention
among produce merchants than the grading OF grain.
THIS veXed question has length been settled 20 tho
satisfaction Of both the railroad companies and the
merchants by the adoption Of agreement between
the Produce Exchange and the New York Central and
Hudson River the Eric and the Pennsylvania railroads
BY s terms the railroad companies may put together
in warehouses. boats other recepaces provided by
themselves for that purpose grain of the same
Kind and grade, without regard TO ownership,
after tie same has been inspected. graded and
weighed, in accordance with the rules OF the Produce
Exchange; but nothing shall be construed as dcprving
shippers OF tho right Of preserving the identity Of grain
consigned TO this market they shall elect subject
only such uniform conditions as may be made by tie
railroad companies parties hereto that purpose
All questions Of difference between the Proarce Ex-
change or any member thereof and tho railroad
pancs or either Of them, growing out OF tho nspcc-
ton and delivery OF grain shall be settled by private
arbitration committee consisting three persons ono
OF whom shall be selected by the President OF tho New
York Produce Exchange subject to the approval Of the
Committee on GRAIN by the railroad companies or
the company with which the controversy NAV arise
and these two to select a third and the decision of
majority OF such Arbitration Committee shall be final
as to the case presented


The Produce Exchange will establish grades OF all
kinds OF grain and keep the Produce Exchange
standard samples Of such grades; ard for the proper
maintenance OF tho grades OF grain, established the
Committee on Grain shall appoint an inspector in chief
who shall appoint such number of deputies as in his
opinion in the opinion Of the Committee on Grain
shall bc sufficient insure the prompt and reliable in
spection OF each Of grain upon its arrival at the
Hudson River terminus OF tho railroads. and the per
ormancc of such other duties may devolve upon him
them under these rules The salaries fees of these
deputies shall be paid by the inspector in chief and
they shall take the following OATH


~ do solcmnly swear (or affirm, the case may bc)
that Will execute the duties of inspector OF grain,
under the rules Of the New York Produce Exchange
with strict impartay and according the best of my
ability"


II shall be their duty to inspect and determine tho
grades of grain (subect nspecton) in the cars; to
supervise the weighing Of the cars, loaded and light
upon tho railroad track scales, and TO that such
scales are in correct working order when In Ho
shall keep cause be kept, a book or books pro-
vded by him for that purpose record of
the number of each the kind, grade and quantity of
grain inspected and weighed therein the date of such
inspection and the name of the consigned He shall
also furnish to the railroad companies returns in dupl
of grain inspected and weighed al the Hudson
River tcrmini Of their respective lines which returns
shall be made upon the following


FORM OF INSPECTORS s, nETTEs - 20


Th: certify that S on the day Of in
No. - the Hudson River terminus Of the Railroad
at Inspcctor-n-C Chef,


per - Deputy.
On all sales of graded grain the tender of guaranteed
certificates shall constitute delivery of tic gram be-
tween sellers and buyers except in the provided
rules and Of the railroad conn Ianies when such
certificates shall cease TO be valid delivery as between
sellers and buyers such deliveries shall be made be-
tween the hours of ten A. NJ and two T. NJ.


cERuFIcATE.


This is to certify that have weighed Cor measured from
@ boat oT hfc9Tnt Sa heen o c-c ss @ and That
NEw York, =


The quantity of grain represented by each certificate
A"a not exceed 5000 bushels except of oats for which
the certificates shall not exceed 10 600 bushels each
These certificates shall properly and numbered
consecutvely and shall state in detail the kind grade
and quantity of the grain represented by them, and
shall be furnished TO the consgnees before Of the
dates thereof accompanied by the freight bills and in
spection returns. The railroad companies shall how
hvcr have the right withhold such certificates until
the freight computed upon the track scale weights
verified by the nspecor and all accrued charges upon
the gram represented by such certificates shall have
been paid.


Consignces shall be allowed hold grain in boats four
days exclusive of Sundays and legal holidays includ-
ing the dates Of the certificates free of expense After
that time demurrage shall accrue at onceighth of
per bushe per day part thereof whether orders
for delivery have been given not which charge shall
then continue until the demurrage charge accrues as
provided in rule ..


Upon surrender of certificates to the railroad com
pany issuing the same with an order directing delivery
of the grain the company shall give proper receipts for
the SAID certificates and shall promptly deliver the
grade and quantity of grain specified therein at any





directed


The railroad companies shall not be required place,
free of towage less than 600 bushels of grade
kind of grain at any one point in the harbor


After grain is ordered cOnsgnces owners shall be
allowed three days at the rate of demurragc provided in
rule exclusive OF sundays and legal holidays, ncnd
ing that of its arrival at the specified point OF desna
ton, for unloading and shall thereafter pay so
dcmurrage for each tweny hours or parts thereof
on each order for the delivery 10 bushels
OF one grade Of oats, 900 bushels less of
grade Of any other kind Of grain until the same be dis
g1ts fnt no he
days not but the railroad companies shall have the
right terminate their liability III the manner provided


LIABILITY OF COMMON CARRIERS


The railroad companies shall be liable common
riers ior the safety o gram represeu 10y NOR cer- m
Gates until delivered in accordance with these rules but
they shall have the right TO terminate their liability IN
the manner provided


Ii any certificate Of graded grain be not surrendered
to the railroad company issuing the same within i've
days from and including the date thereof with an order
directing the delivery the grain said company
may thereafter give not than forty eight hours
tcc the bulletin of the New York Produce Exchange,
of their intention 10 store in gram warehouses gram
represented by such certificate; and If such ccrtihcac
BE- not surrendered within tho time specified in such mo-
tcc with order directing some other disposition of
the property said company may thereafter SO store the
grain the expense and risk OF the owner thereof


All grain for which no grades are established shall be
kept separate and delivered from track or under such
uniform conditions as may be madc by the railroad
companies parties hereto for that purpose.


The railroad companies shall require their employees
in charge Of grain held aloat under these rules,
ercse aud watChlncss respecting the condition Of
such grain and to notice to tho Inspector Chief
without unnecessary delay Of any change discovered by
them in the condition OF grain their charge; also 10
give the Inspector Chief or his deputies all times
every reasonable facility for the thorough examination
Of grain, whether any report Of its condition has been
made By them or not.


IT shall be the duty Of the Inspector IN Chief from
time tO time 20 examination TO be made OF the
condition Of grain IN boats for which guaranteed ccr
tcitcs have been issued and If Of such grain shall
be found 10 be out OF condition lie shall promptly gvc
notice of the fact the railroad company having such
gram in its possession, and shall such
the Kind and grade Of grain and practicable
its actual condition; also the and location OF the
boat or boats containing the same. Nhercnpon the
railroad company receiving such notice shall, without
unnecessary delay certify thereon the certificates out
standing upon which such grain will be delivered,
which ccthcacs shall be those of the oldest numbers
and dates then IN circulation uncancelcc also the
quantity be delivered under such certificates. and
such notice to be posted upon the bulletin of the
Produce Exchange, and thereafter the certificates
posted shall to be valid delivery OF graded grain
under these rules, between sellers and buyers such
posted grain shall be delivered subject any extra