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Any member of this Exchange who is interested in, or associated with, or whose office is connected directly or indirectly by wire or other method or contrivance, 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 bona fide purchase or sale of said commodity or security in a regular market or Exchange shall, on conviction thereof, be deemed to have committed an act or acts detrimental to the interest and welfare of the Exchange.
Every member of the Chicago Stock Exchange shall be subject to the conditions, and entitled to partake of the benefits of the plan providing for the families of deceased members
hereinafter set forth:
Should the member die leaving a widow and also a child or children, or descendants of such child or children of said member, then one-half shall be paid to the widow for her separate use, and one-half to the children for their use, share and share alike, the descendants of a deceased child taking the share of their deceased parent in equal parts among them: Provided that the share of minor children shall be paid to their guardian.
Should the member die leaving children or their descendants, and no widow, then the whole sum shall be paid to the children and their descendants, as directed in the preceding section to be done with the moiety.
Should the member die leaving neither widow, children, or their descendants, then the whole sum shall be paid to the same persons who would, under the laws of the State of Illinois, take the same by reason of relationship to the deceased member, had he owned the same at the time of his death; and if there be no such person, then to the other claimants for the proceeds of the membership of the deceased, under the rules of the Stock Exchange.
In all cases a certified copy of the proceedings in the Probate Court shall be accepted as proof of the rights of the claimants, be deemed ample authority to the Stock Exchange to pay over the money, shall protect the Exchange in so doing, and shall release the Exchange forever from all further claim or liability what
SEC. 4. Nothing herein contained shall ever be taken or construed as a joint liability of the Exchange or its members for the payment of any sum whatever, it being distinctly understood that the amount paid is a gratuity. The liability of each member hereunder, at law or in equity, being limited to the payment to the Stock Exchange of ten dollars only on the death of any other member, and the liability of the Exchange being limited to the payment of the sum of four thousand dollars ($4, ooo), levied on the death of a member (or such part thereof as may be collected), after it shall have been collected under such levy from the members, and not otherwise.
SEC. 5. Nothing herein contained shall be