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pension, be entitled to have their business transacted at members’ rates.

SEc. 6. Any member violating this article directly or indirecty, of which the Governing Committee shall be the judge, shall, upon conviction, for the first offense be fined five hundred dollars, and shall be suspended for a period of not less than three months; and for the second offense shall be expelled, and his membership disposed of by the Committee on Admissions.

ARTICLE XX.

MEMBERS GUILTY OF FRAUD.

Should any member be guilty of fraud, of which the Governing Committee shall be the judge, he shall upon conviction thereof, by a vote of two-thirds of the said Committee present, be declared by the President to be expelled, and his membership shall be disposed of by the Committee on Admissions.

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ARTICLE XXI.

OBLIGATION TO ABIDE BY THE CONSTITUTION
AND BY-LAWS.

SECTION I. Every member shall within five days after his admission, and his notification thereof by the Secretary, sign the Constitution and By-Laws, thereby pledge himself to abide by the same, and by all subsequent amendments thereof, and also by all rules and regulations then existing or which may thereafter be adopted. In case of sickness or absence from the city preventing any member from complying with the requirements of this section, such member shall upon his first entrance to rooms of the Exchange sign the Constitution and By-Laws, and pledge himself as herein required, and no member shall be entitled to the privileges of the floor until he shall have so signed.

SEc. 2. Any member reported to the Governing Committee for refusing to comply with the Constitution, By-Laws, Rules or Regulations of the Exchange, or for any violation thereof, shall be allowed an opportunity of being heard

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contract or incur any debt or liability unless there shall be in the hands of the Treasurer of the Exchange, at the time said debt or liability is contracted or incurred, funds specially set aside to meet and pay said debt or liability.

ARTICLE XXVI.

REVENUE OF THE EXCHANGE.

In case the revenue of the Exchange from annual dues and fines, transfer fees, listing fees and interest arising from funds in the Clearing House, shall be insufficient to meet the current expenses of the year, the Governing Committee shall levy an assessment equally upon all the members to supply the deficiency.

ARTICLE XXVII. ALTERATIONS OF THE CONSTITUTION AND BY-LAWS.

All alterations of the Constitution and ByLaws, after a reference thereof to the Law Committee, shall be made by a vote of two-thirds of the members of the Governing Committee present, and shall be submitted to the Exchange, and

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