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SEc. 18. When any member fails to execute any contracts required of him by the Clearing House, the margin checks deposited by such member for the protection of other members contracting with him through the Clearing House, shall be held first for that special purpose, and after satisfying the claims of such members to the extent of the margin rule of the Clearing House, the balance, if any, shall be held for a period not exceeding ten days as a trust fund for a pro rata distribution among other creditors who are members of the Chicago Stock Exchange.
letrimental to the Exchange,
man and Vice-Chairman–How chosen,