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60 THE CHICAGo stock Exchange

default to an officer of the Exchange, who shall
re-purchase or re-sell the security forthwith in
the Exchange, and any difference that may ac-
crue shall be paid over to the party entitled
thereto. The notice above referred to shall be
either personal, or shall be left in writing at the
office of the party to be notified, or in case he
has no office, then by public announcement
whenever the Exchange may be in session.
Sec. 3. Unless otherwise agreed upon be-
tween the parties, the place of deposit for mar-
gins for the security of purchases and sales shall
be the Clearing House of the Exchange, the
Manager of which shall be authorized to issue
special receipts for same.

ARTICLE XVII.

DEFAULT—CLOSING CONTRActs UNDER THE RULE

Should any member neglect to fulfill his con

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62 THE CHICAGO STOCK EXCHANGE

shall be performed without charge. No party shall be permitted to supply offers to buy or sell securities closed for his account under the rule; and when a contract is closed under this rule any action of the defaulter, direct or 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 of. fending 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 to prosecution under this Article. Should any stock thus sold not be delivered until the next day, the contract shall continue, but the defaulting party shall be liable to pay such damage as may be assessed by the Arbitration

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CHANGE

large. No party
ers to buy or sell
under the rule;
der this rule any
or indirect, by
such contract is
he detriment of
subject the of-
not less than
the Governing
s of the mem."
hen contracts
member sup"
receiving of
, be, renders
this Article.
alivered un-
ontinue, ow"

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