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eighth per cent or one-eighth of a dollar are permitted, except in the case of Government bonds. In all offers to buy or sell during a call whenever the words “the most,” “the lowest,” “all I have,” “all I want,” or others of the same import are used, they remain binding on the member while the security remains before the Exchange. Any variance from the terms applying to amount or price (but not to time), subjects a member to a fine of one dollar, and any transaction made with him in consequence of his original declaration, or which may be affected by his subsequent change from it, may be cancelled at the option of the other party. This rule also applies when a bid or an offer is made for another member. Any member requesting a stock called, is entitled to the market on that particular stock on the terms and time first proposed by him, if he make a prompt bid, or offer, or both, although in the first moment he may have been anticipated. This preference, however, is lost the moment he varies his bid or offer in any way.