powers. SEC. 12. Said corporation shall have no power or authority to Limitation of do or carry on any business excepting such as is usual in the management of boards of trade or chambers of commerce, or as provided in the foregoing sections of this bill. I, O. M. HATCH, Secretary of State of the State of Illinois, do Certificate. hereby certify that the foregoing is a true copy of an enrolled law now on file in my office. [SEAL.] In witness whereof I have hereunto set my hand and affixed the great Seal of State, at the city of Springfield, this seventh day of March, A. D. 1859. O. M. HATCH, Secretary of State. RULES AND BY-LAWS -OF THE Board of Trade of the City of Chicago. IN FORCE MAY 1, 1903, OBJECTS. The objects of the Association are: To maintain a Commercial Preamble. Exchange; to promote uniformity in the customs and usages of merchants; to inculcate principles of justice and equity in trade; to facilitate the speedy adjustment of business disputes; to acquire and to disseminate valuable commercial and economic information; and, generally, to secure to its members the benefits of co-operation in the furtherance of their legitimate pursuits. In accordance with the franchises conferred by its Charter, and to accomplish the objects sought by the Association in its organization, THE BOARD OF TRADE OF THE CITY OF CHICAGO has adopted, for its direction and government, the following Rules and By-Laws: Government of the Association. How vested. Board of RULE I. GOVERNMENT AND ELECTIONS. SECTION 1. The government of the Board of Trade of the City of Chicago, and the control and management of its Real Estate (including all of the authority and power heretofore vested in the Board of Real Estate Managers), are hereby vested in a President, two Vice-Presidents, and fifteen Directors, who, including the President and Vice-Presidents, shall be known as the Board of Directors, all of whom shall have been members of the Association for at least one year next preceding their election. The President, one VicePresident, and five Directors shall be elected annually. The PresiTerm of office. dent shall hold his office for the term of one year, or until his successor is elected and qualified; the Vice-Presidents, in like manner, shall hold their offices for the term of two years, and the Directors, in like manner, for the term of three years. Ten members of the Board of Directors shall constitute a quorum for the transaction of business, but a less number may adjourn from time to time, to any fixed date preceding the next regular meeting of said Board. Quorum. Committees of Arbitration and Appeals. SEC. 2. There shall also be elected by the members of the Association a Committee of Arbitration and a Committee of Appeals, consisting of ten members each, who shall hold their respective offices Term of office. for the period of two years. Five members of each committee shall Qualifications. be elected annually. The qualifications for election to either of these committees shall be the same as for the office of Director. No person shall, at the same time, be a member of both committees. Annual election. Commencement of official term. Requirements of an election. Failure to elect. Subsequent triais. Failure to elect and vacancies. Notice, how published. SEC. 3. The annual election for all elective officers not otherwise provided for, shall be held in the Exchange Hall on the first Monday after the second day of January in each year, between the hours of ten o'clock A. M. and two o'clock P. M., and all voting shall be by the Australian Ballot. The official term of all officers shall commence on the Monday succeeding their election. SEC. 4. For President and Vice-Presidents, a majority of all the votes cast shall be necessary to a choice; but for all other elective officers a plurality shall elect. SEC. 5. In case of failure to elect any officer voted for on the first trial, another election, in like manner, shall be held on the succeeding day, and if there shall again be a failure to elect, then, upon a third trial, held in like manner, on the day following, a plurality shall elect. SEC. 6. If from any cause an election of officers is not had at the regular annual election, or in case of the death, resignation, or removal of the President, either of the Vice-Presidents, Directors, or members of either of the Committees of Arbitration or Appeals, it shall be in the power of the Association to fill such vacancies for the remainder of the official term at any regular or special election thereafter; provided, notice of said special election shall have been announced on 'Change at least three days immediately preceding such election. 10 [RULES I.-II.] elections. At every annual or special election only those ballots shall be Ballots at counted which contain as many names of the regularly nominated candidates for Directors and members of the Committees of Arbitration and Appeals respectively as are to be elected at such election; and it shall be the duty of the Secretary to have this portion of the rules printed on all ballots used at any such election. election. SEC. 7. It shall be the duty of the President, prior to any elec- Tellers of tion to be held by the Association, to appoint or cause to be appointed a sufficient number of tellers, who shall have charge of Duties. the ballot boxes and poll lists of the Association, and who shall receive consecutively, and place the same in the ballot box, all ballots of members who shall be in good and regular standing, who shall have paid all dues and assessments. They shall keep a record of all members voting, and opposite each name shall place the number of the ballot deposited by said member. Three of the tellers shall con- Quorum. stitute a quorum for receiving and recording the votes. No ballot box shall be opened, nor shall any votes be counted, except in the presence of at least four of their number. returns in writing to the President of the Association, duly signed writing. by at least four of their number, and the Secretary shall preserve all Preservation the ballots for the period of at least one month, for further examina- of ballots. tion, if the same shall be ordered by the Board of Directors, to verify the correctness of the returns of said tellers. They shall make all Returns in of committees. SEC. 8. In the hearing or trial of any case or controversy before Disqualificathe Board of Directors, or before any committee of the Association, Doctors or no Director and no member of any such committee shall serve or act members of in such hearing or trial who has any financial interest or concern in the result of such hearing or trial, or who shall be a bussiness partner of any party thus interested. RULE II. DUTIES OF THE PRESIDENT. powers. SECTION 1. It shall be the duty of the President to act as gen- Executive eral executive officer of the Association and of the Board of Directors, respectively; to preside at all meetings of either of these To act as prebodies, and to direct the proceedings of each in accordance with the siding officer. Rules, By-Laws and Rules of Order governing the same; he shall have power to call special meetings of the Board of Directors and of To call special the Association; and upon the written request of twenty-five mem- meetings. bers, he shall call special meetings of the Association, which shall be done by causing notice of the same to be publicly announced on 'Change; provided, such request shall state the object for which such object to te meeting is to be called, and is made at least three business days pre- stated. ceding the said meeting. order. SEC. 2. It shall be the duty of the President to preserve order To preserve and proper business decorum in the Exchange and other rooms of the Association, and in the corridors, halls, entrances and other parts of the building of the Association; and, in case any member, or other person, shall be guilt of any disorderly, boisterous or offensive con |