Milwaukee Chamber of Commerce Milwaukee Grain & Stock Exchange.

Annual report of the Milwaukee Grain & Stock Exchange online

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place on the third day thereafter, at the same time and place ; and
if at such adjourned election there should be a failure to elect any
or each of the above officers, thon the person holding such office
shall be continued in office until the next annual election. The
Association shall hold its annual meeting on the second Monday of Annual Meet-
April at such hour as the Board of Directors may designate and ^°^-
announce.



Failure to elect.



RULE II.

DUTIES OF THE PBEISIDENT.

Section I. It shall be the duty of the President to preside at
and to preserve order at all meetings of the Association or of
the Board of Directors; to direct the minutes of the previous
meeting, reports of committees, or other papers to be read; in
t^e absence of the Secretary to appoint one of the members of
the Association to officiate in his place^ and to call ^tra meet-
ings of the Association when he or the Board of Directors may
deem it expedient. Upon the written request of ten members
of the Association he shall call a special meeting of the Associ-
ation, provided such request shall state the object for which such
meeting is to be called; and provided, notice of the same shall
have been given on 'Change and in one or more of the daily
newspapers of the City of Milwaukee for at least three days
immediately preceding such meeting. The President shall



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10



RULES 2^



Boisterous or
Offensive
Conduct.



Elections— Tel-
lers.



Qualifications
of Voters.



countersign all orders on the Secretary and Treasurer for
accounts against the Association ordered to be paid by the' Board
of Directors.

Sec. 2. It shall be the duty of the President to preserve
order and proper business decorum in the Exchange Room of
the Association during all business hours, and in case any mem-
ber or other person shall be guilty of any disorderly, boisterous
or offensive conduct while in the Exchange Room, he shall, for
that offense, be summarily fined by the President a sum not
exceeding ten dollars, or be suspended from the privilege of
admission to said room for such time as the President may
determine, not exceeding one week, subject, however, to ap-
peal to the Board of Directors; but pending such appeal he
shall remain so suspended if the President shall so elect. Any
member or other person fined, as herein provided, shall not be
admitted to the Exchange Room until such fine shall have been
paid or remitted.

Sec. 3. It shall be the duty of the President, prior to any
election to be held by the Association, to appoint a sufficient
number of tellers to take charge of the ballot-boxes and poll-
lists of the Association. They shall receive, consecutively,
and place in the ballot-boxes, all ballots of members who shall
be in good and regular standing, who shall have paid all dues
and assessments. The tellers shall keep a record of all mem-
bers voting, and opposite each name shall place the number of
the ballot deposited by said member. Three of the tellers shall
constitute a quorum for receiving and recording the votes. No
ballot-box shall be opened, nor shall any votes be counted,
except in the presence of at least four of their number. They
shall make all returns in writing to the President of the Asso-
ciation, duly signed by at least four of their number, and the
Secretary shall preserve all ballots for the period of at least
two months, for further examination, if the same shall be or-
dered by the Board of Directors, to verify the correctness of the
returns of said tellers.



RULE III.

DUTIES OF VICE-PRESIDENTS.



It shall be the duty of the Vice-Presidents, in the order
named in their election, €o perform the duties of the President
in case of his absence or disability.



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RULE 4



11



Affairs of the
Association.



Rates of Cora-
emission.



Supervision of
Inspection
and
Weighing.



RULE IV.

DUTIES OF DIREOTOBS.

Section 1. All the financial and business concerns of the
Association shall be managed and conducted (in accordance
with the charter and rules of the Association) by and under the
direction of the Board of Directors; and no moneys sliall be
paid except on its vote on each sum proposed to be paid. It
shall be the duty of the Board of Directors to inquire into mat-
ters affecting the welfare of the Aseociation or the business
interests of the City of Milwaukee, and to report upon the same
to the Association, together with such recommendations as to
rules and regulations, rates of commission and charges, as May
be deemed advisable. The Board of Directors shall, annually,
on the second Monday in April of each year, or as soon there-
after as may be practicable, appoint three standing commit-
tees, of five members each, to act respectively as Supervisors
of Flour Inspection, of Grain Inspection and Weighing, and of
Inspection of Provisionfl and Cooperage, and such other com-
mittees, inspectors, gaugers, weighers, measurers, and other
officers or servants, not otherwise provided for, as in its opin-
ion may be for the best interests of the Association.

Sec. 2. The term of office of all such appointees shall Term of office,
commence on the third Monday of April of the year in which
they shall have been appointed, or at such time as the Direc-
tors may designate, and continue until the third Monday of
April next ensuing, or until their successors shall have been
duly appointed and qualified.

Sec. 3. The Board of Directors shall annually on the second Appointment
Monday in April of each year, or as soon thereafter as maybe prac- ^ " P«<5 o .
ticable, appoint a Weigher, Inspector of Grain and Flax-seed, an
Inspector of Flour and an Inspector of Provisions, to serve respect-
ively for one year from the third Monday of April in that year, or
until their successors shall have been appointed and qualified, unless
sooner removed from office. Such appointment shall be made only
on the affirmative action and approval of at least seven members
of the Board of Directors. The Board of Directors shall have
power to revoke any of its appointments by a majority of its mem-
bers elect.

Sec. 4. The Board of Directors shall also' fix the compen- compensation
sation for the services of the Secretary and Treasurer, and of of Secretary
all other persons elected or appointed to perform any duty for Inspectors
the Association, and may, in its discretion, require from any



Power to Re-
voke Ap-
pointments.



QSp(

nd



and others.



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12



RULE 4



Meetings of the
Board of Di-



such elected officers or appointees an oath, and a good and suf-
ficient bond, to be executed and made payable to the President
and his successor in office, for the faithful performance of their
respective duties and trusts.

Sec. 5. The Board of Directors shall hold meetings on
Tuesday following the second Monday of each month (and oftener
if it shall think proper), for the purpose of transacting such
business as may be necessary.



Certificates of
Election or



Sec. 6. It shall furnish to all persons who may be ap-
Appointm'iit. pointed or elected Inspectors, Gangers, Weighers, or Measurers,
certificates bearing the signatures of the President and Secretary,
and the seal of the Association, specifying their duties and the
time for which they shall have been appointed or elected, and
also that such appointments are revocable at the pleasure of the
Board of Directors.



Reports of Ap-
pointments
and Ai>nual
Report of
Board of Di-
rectors.



Anijual Assess-
ment.



Special Assess-
ments.



Exchange
Room to be
Icept open as
directed by
the Associa-
tion.



Sec. 7. The Board of Directors shall make a report to the
Association, on 'Change or otherwise, of appointments madie by
it or the revocation of the same; and at each annual meeting
of the Association it shall make a full report of the condition
of the affairs of the Association. It shall also, before the ex-
piration of the fiscal year, make an assessment upon members
of the Association, for the purposes of the Association, for the
succeeding year, and shall report the amount assessed upon
each member at least one week previous to the annual election
in each year, and no member of the Association shall be en-
titled to vote at the annual election unless he "shall have paid
such ^assessment.

Sec. 8. In order to meet current expenses or accumulated
debt, which the paid annual assessment shall have proved in-
sufficient to discharge, the Board of Directors may, with the
assent of two-thirds of the members of the Association present
at any meeting — ^the members present and voting being not less
than one hundred — ^make special assessments which shall be
payable by members of the Association at such time and in
such manner as the Board of Directors shall by resolution direct.

Sec. 9. The Board of Directors shall cause to be provided
suitable rooms for the purposes of the Association, which shall
be kept open for the transaction of commercial business during
such hours as the members of the Association shall from time
to time by resolution direct, and the Board of Directors shall
have power to make all needful regulations in regard to the



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RULE 4



13



Charges
against mem-
bers.



Conduct merit-
ing suspen-
sion or expul-
sion.



Employes of
Telegraph
Companies



use of such rooms, and to enforce the same by the necessary
penalties or discipline.

Sec. 10. It shall be the duty of the Board of Directors to
examine charges against any member of the Association, when
made in writing to the President or Secretary, by any other
member or members, and if the party accused shall be found
guilty of improper conduct of a personal character in the rooms
of the Association; of a violation of the Rules, By-Laws or Reg-
ulations of the Association; of making or reporting any false
or fictitious purchases or sales; of any act of bad faith; of any
attempt at extortion; of any act contrary to the spirit which
should govern all commercial transactions; or of any other dis-
honorable or dishonest conduct, he shall be censured, suspended
or expelled by the Board of Directors, as it may determine from
the nature and gravity of the offense committed. It shall be
deemed an offense agaipst the rules of the Chamber of Com-
merce for any person to act as a broker or commission mer-
chant, or to buy or sell any grain or other property for an agent
or employe of any telegraph company doing business in the
City of Milwaukee, and upon the complaint, in writing, of a
member of the Chamber of Commerce or any officer or agent of
any telegraph company, charging such offense against any mem-
ber of this Association, the Board of Directors shall investigate
such complaint; and if the member accused shall be found
guilty, he shall be censured, suspended or expelled,, as the Di-
rectors may determine, in the manner prescribed in this section.

Sec. 11. It shall be the duty of the Board of Directors, in Offenses
case any grave offense, committed by any member of the Asso-
ciation against the good name or dignity thereof, shall come to
its knowledge, either by public rumor or report, to cause a pre-
liminary or informal investigation to be made by a committee
of its members into the truth or falsity of such rumor or report.
If such committee, after investigation, shall deem such rumor
or report sufficiently well founded, it 'shall so report to the
Board of Directors, with charges, whereupon the person thus
implicated shall be notified in manner provided in section four-
teen (14) of this rule, to appear before the Board of Directors,
and, if foimd guilty, he shall be censured, suspended or expelled.
A majority of a quorum sitting at a regular, special or adjourned
meeting of the Board of Directors shall be sufficient to censure,
but to suspend or expel a member of the Association for any
offense enumerated in this or the foregoing section, it shall
require an affirmative vote of two-thirds of the members present.



good name
or dignity of
the Associa-
tion. .



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14



RULE 4



Failure to com-
ply with con-
tracts or
awards or to
submit mat-
ters of diflfer-
enoe to arbi-
tration.



Charges shall
be made in
writing.



Notice of
charges.



except when less than nine members are present, in which case
it shall require at least six affirmative votes to suspend or expel.

Sbo. 12. If it shall be charged that any member of the
Association has failed to comply promptly with any contract,
either verbal or written; has negJected or refused to comply
promptly with the award of any Board of Arbitration or Board
of Appeals, rendered in conformity with the Rules and R^ula-
tions of the Association; or has refused or neglected to submit
any matter of difference to arbitration, it shall be the duty of
the Board of Directors, upon the complaint in writing of the
aggrieved party, to consider the matter at any regular, adjourned
or special meeting of said Board, of which meeting the accuser
and accused shall have had at least six days' notice in writing to
attend; and if by a majority vote of the Directors present —
there being at least six votes in the affirmative — the charges
made shall be decided to be sustained, the member in fault
shall, by such finding, stand suspended from all privileges of
membership until the matter complained of shall have been
satisfactorily settled in the judgment of the Board of Directors.
Should, however, the gravity of the offense be deemed such as
to merit expulsion, the member in fault may, by a majority of
two-thirds of the Directors present — ^there being not less than
six votes in the affirmative — ^be expelled from the Association.
Any member of the Association suspended under the provisions
of these rules shall stand suspended until he shall have com-
plied with and performed such further conditions of reinstate-
ment, in addition to those herein provided, as the Board of
Directors may in its judgment see fit to impose.

Sec. 13. All charges, excepting as to violations under Sec.
9 of Rule XI, made to the Board of Directors against any
member of the Association for any default, misconduct or of-
fense, shall be in writing, and shall state the default, miscon-
duct or offense charged, and the same shall be signed by one or
more members of the Association, or by a business firm, one or
more of whose members shall be members of the Association.

Sec. 14. No member shall be censured, suspended or ex-
pelled under this rule without an examination of the charges
against him by the Board of Directors, nor without having an
opportunity of being heard in his own defense. No examina-
tion shall take place until the member accused shall have had
six days' prior notice of examination served on him, or fifteen
days' prior notice mailed to him in case he has no place of busi-
ness or residence in the City of Milwaukee. All such notices



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RULE 4



15



Re-instatement
of suspended
members



must be accompanied by a copy of the charges againet him, in
writing. Such notice may be served upon the accused person-
ally by the Secretary, or any assistant, or it may be left at the
ordinary place of business or residence of the accused; or it may
be mailed as above, in either of which cases the notice shall be
considered sufficient, and the examination may proceed, whether
the accused be present or not.

Sec. 15. When any member imder sentence of suspension
for failure to comply promptly with any business contract or
obligation, or for failure to promptly comply with or fulfill the
award of any Board of Arbitration, or Board of Appeals, made
in conformity with the Rules and By-Laws of the Association,
shall have adjusted and settled all his outstanding obligations
to members of the Association, he may, upon application, be
reinstated. Notice of all applications for relief from suspension
under the provisions of this section shall be posted upon the
bulletin of the Exchange Room for at least one week prior to
the hearing of any such application by the Board of Directors.

Sec. 16. A suspended member may be reinstated by a
majority vote of a quorum of the Board of Directors, there
being not less than six votes in favor of such reinstatement;
and such reinstatement may be made to depend (in case the
sentence of suspension does not itself prescribe) upon such
conditions, to be observed and performed by the suspended mem-
ber, as the Board of Directors by a vote as aforesaid may see
fit to prescribe.

Sec. 17. An expelled member of the Association, or a
member who may have forfeited his membership while under
suspension, shall not be readmitted except as a new member,
and upon the unanimous approval of the Committee on Mem-
bership.

Sec. 18. In case of the suspension or expulsion of. any Suspension or
member of the Association by the Board of Directors, the fact me^ml^M^to '
of such suspension or expulsion shall be promptly reported to the'^^Associa*^
the Association; and also the restoration to the privileges of ~ tion.
membership of any member readmitted, who had been under
sentence of suspension. Upon the suspension or expulsion of
a member, notice thereof shall be communicated to him by the
Secretary, who shall also enter opposite the name of such mem-
ber, in a list kept for that purpose, the word "suspended" or
"expelled," as the case may be.



Re-admission
of an expelled
member.



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16



RULE 4



Refusal of
member to ap-
pear as wit-
ness or to tes-
tify, cause of
suspension.



Irrelevant tes-
timony.



Absence of
President and
Vice-Presi-
dents.



Sec. 19. In any investigation or trial before the Board of
Directors, or before any other duly constituted committee or
other tribunal of the Association, if any member who shall have
had notice, from the Secretary, in writing to appear and testify
in the case, or if any member who shall have been cited by the
chairman of any duly constituted committee or other tribunal
of the Association to appear and testify, shall neglect or refuse
to so appear, or if, testifying, shall refuse to answer any ques-
tion which may, by a majority vote of the said Board of Direct-
ors, committee or other tribunal, be declared proper and per-
tinent to the case in hearing, he shall be subject to suspension
by the Board of Directors from all privileges of the Associa-
tion for such period as the said Board may determine; which
may be done by said Board in case of contempt of a witness
before said Board of Directors, or on the report, in writing,
of any such committee or other tribunal, in case the con-
tempt shall occur before such committee or other tribunal of
the Association. It is hereby provided that no witness shall
be compelled to answer any question which shall criminate him-
self, nor shall any testimony be admitted which, in the opinion
of the committee or other tribunal, is irrelevant to the case in
hearing.

Sec. 20. In case of the absence or disability of the Pres-
ident and both of the Vice-Presidtents, it shall be the duty of
the Board of Directors to elect from its number a temporary
chairman, who, in addition to his duties as chairman of the
Board of Directors, shall also temporarily perform all other du-
ties devolving upon the President.



Special meet-
ings of the
Association-



Special meet-
ings of the
Board of Di-
rectors.



Sec. 21. The Board of Directors shall have power to call
special meetings of the Association upon such notice and for
such purpose as it may deem pr(^r. All calls for special
meetings of the Association shall state the specific object of such
meetings, and no other business than that for which a special
meeting had been called, shall be considiered or transacted at
any such meeting.

Sec. 22. Special meetings of the Board of Directors may be
convened by the order of the President, or by written request
of any five members of the said Board, addressed to the Secre-
tary. Such meetings may be called by public notice, announced
on 'Change, or by service of personal or written notice, left at the
usual place of business of any member of said Board of Directors,
by the Secretary. No other business than that specified in the



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RULE 4 17



notice shall be considered or transacted at such meetings, unless
by unanimous consent of the Directors present.

Sec. 23. The Board of Directors may appoint delegates to Appointment
the National Board of Trade, and representatives to all other
deliberative gatherings in which the Association may be entitled
to a voice and desire representation.

Sec. 24. It shall be the duty of the Board of Directors to The Board of
appoint committees for such service as will, in its opinion, best may employ
subserve the welfare of the Association. The Board of Di- counsel,
rectors, and any committees appointed by it, may adopt such
rules and regulations for their own government (not contrary
to the Charter or Rules of the Association) as will best pro-
mote the objects for which they were elected or appointed. The
Board of Directors may, in its discretion, provide such legal
aid and advice as it may deem necessary to assist it or any of
the coDunittees in the discharge of their duties.

Sec. 25. It shall be the duty of every committee appointed Comnaittee
by the Association, the President, or Board of Directors, to act, promptly,
when called upon, within twenty-four hours after notice from
any member or members having occasion for its services.

Sec. 26. The Board of Directors is hereby authorized to Freight Bu-
establish a Freight Bureau and to employ on or before the 16th
of May, 1899, a competent person, expert in matters of trans-
portation, whose duty it shall be to secure just and equitable
rates between the City of Milwaukee and other places and mar-
kets for the carrying and transportation of freight, and adjust-
ment of transportation grievances arising out of such business,
the expenses of such bureau not to exceed two thousand dollars
per annum. The Board of Directors shall at its last regular
meeting prior to the annual election of the Chamber of Com-
merce in each year determine whether to continue or temporarily
suspend the employment of a freight bureau manager.

Sec. 27. Any member of the Chamber of Commerce who Bucketahops.
shall be interested or associated in business with, or who shall
act as the representative of, or who shall knowingly execute
any order or orders for the account of or who shall place any Unmefcantile
order or orders for execution with any organization, firm or
individual engaged in the business of dealing in differences on
the fluctuations in the market price of any commodity without
a bona fide purchase and sale of property with intent for an
actual delivery, shall be deemed guilty of unmercantile con-
duct, which renders him unworthy to be a member of the Asso-



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18



RULES 4-5



ciation; and upon complaint to and conviction thereof by the
Board of Directors, he shall be expelled from membership in
the Association.

Sec. 28. There shall be appointed by the President with
the approval of the Board of Directors, a committee consisting
Call Board of five members to be known as the Call Committee whose duty

it shall be, acting under the authority of the Board of Di-
rectors, to conduct a public Call Board or market for grain,
seeds and other articles, to be held in the rooms of the Ex-
change immediately after the close of the regular session on
each business day, and at such times during the business session
as the Call Committee may direct.

Contracts may be made on the call for such grain, seeds
and other articles, and upon such terms as have been an-
nounced by the Call Committee.

Final bids on the call, less regular commission and other
charges established by the rules for receiving and accounting
for said articles, may be forwarded to dealers, and there may
also be forwarded offers for delivery at the point of shipment
based on such final bids, less the regular commission and other
charges established by the rules and less the tariff rates of
freight in effect at the time of such offer, it being the intent
of this rule to provide for a public competitive market for the
articles dealt in, and that with the last call all making of
new prices by members shall cease until the next business day.

Any transaction by any member of this body made with
intent to evade the provisions of this rule shall be deemed un-


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Online LibraryMilwaukee Chamber of Commerce Milwaukee Grain & Stock ExchangeAnnual report of the Milwaukee Grain & Stock Exchange → online text (page 16 of 25)