Constitution and By-laws: Revised and Adopted December, 1898

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Press of Battis and Groff, 1898 - 85 páginas
 

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Página 37 - ... with, any organization, firm, or individual engaged in the business of dealing in differences or quotations on the fluctuations in the market price of any commodity or security without a...
Página 38 - Ten thousand dollars, or so much thereof as may have been collected, to the persons named in the next Section, as therein provided, which money shall be paid as a gratuity from the other members of the Exchange, free from all debts, charges or demands whatever.
Página 40 - Nothing herein contained shall be construed as constituting any estate in esse which can be mortgaged or pledged for the payment of any debts ; but it shall be construed as the solemn agreement of every...
Página 61 - When a contract has been closed "under the rule," there shall be endorsed upon the order therefor the name of the purchaser or seller, the price and the hour at which such contract was closed, and the Secretary shall thereafter ascertain whether the money difference, if any, has been paid. If such difference shall not be paid within twenty-four hours after the closing of the contract, the Secretary shall report such default to the President.
Página 28 - The above mentioned rates shall be in each case the minimum commission that may be charged by any member of the Exchange, and shall be absolutely net and free of all and any rebate, in any way, shape, or manner; nor shall any bonus or pro rata percentage of commission be given or allowed to any clerk or individual for business procured or sought for any member of the Exchange. The penalty for violating or evading, or seeking, offering, proposing, promising...
Página 15 - Duties majority vote of the Governing Committee and shall hold his position subject to the pleasure of the Governing Committee. It shall be the duty of the Secretary to record in a book of minutes the proceedings of the Exchange and take charge of the books and papers of the association. He shall be the Secretary of the Governing Committee and of the Standing Committees. He shall conduct the correspondence of the Exchange and shall keep a ledger containing the names of all the members, with dates...
Página 25 - ... firm. SEC. 3. If a member, suspended under this article, fails to settle with his creditors and apply for reinstatement within one year from the time of his suspension his membership shall be disposed of by the committee on admissions.
Página 62 - Indirect, by which the prompt fulfillment of such contract is delayed, hindered, or evaded, to the detriment of the other contracting party, shall subject the offending party to suspension for not less than thirty days, In the discretion of the governing committee, by a vote of two-thirds of the members present at the meeting. When contracts are closed out under the rule, any member supplying the bid or offer, and not duly receiving or delivering the stock, as the case may be. renders himself liable...
Página 28 - SEC. 1. — In all deliveries of securities, the party delivering shall have the right to require the purchase money to be paid upon delivery ; if delivery is made by transfer, payment may be required at time and place of transfer.
Página 26 - Exchange, nor with any person who has been expelled therefrom ; nor with any insolvent person, or with any person who may have previously been a member of the Exchange, and against whom any member holds a claim, arising out of transactions made during the time of such membership, and which has not been released, or settled in accordance with the laws of the Exchange.

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