CORN EXCHANGE.

Globe, Volume XX, Issue 1553, 10 February 1879, Page 3

CORN EXCHANGE.

A meeting of directors of the Corn Exchange was held at the rooms on Saturday last. Present —The chairman, Mr T. Bruce, Messrs. Perryman, Henderson, Amyes, Bailey, Brown, O’Callaghan, Attwood, Dick, and Overton.

The secretary read a letter from Mr David Patchett, stating that he was sorry to say (hat from ill health he could not act as a director for this year, and therefore tendered his resignation. It was proposed by Mr Woodman, seconded by Mr Perryman and carried—“ That Mr Merton be elected a director to fill the seat vacated by the resignation of Mr David Patchett.”

Proposed by Mr Bailey, seconded by Mr Dick, and carried unanimously—“ That the chairman be empowered to procure 1000 printed copies of the rules for the use of the Corn Exchange.” It was resolved That the Corn Exchange he open on Saturday next for transacting business, and that the chairman be authorised to arrange for an auctioneer to act permanently for the Corn Exchange,” The following rules for the guidance of the directors were unanimously agreed to : 1. That five members shall form a qnorum. 2. That weekly Board meetings shall take place every Saturday at 2 o’clock. 3. That if any member shall absent himself for five consemtive meetings, his seat shall be declared vacant, unless satisfactory reasons be given to the directors. 4. In case of any member resigning, or a vacancy occurring, the major.ty ot the members present at any subsequent eeting of the directors shall have the power of filling up such vacancy or vacancies by electing a director out of the list of subscribers to the Corn Exchange, and that any subscriber shall be eligible for such nomination.

5. That reports of the gran and produce shall bo prepared by the chairman and secretary for insertion in the two daily papers for Thursday's and Monday’s issues, and in the two weekly papers on S turday. The following rules for the guidance of the sale of produce in the Exchange wore also agreed to : 1. Every member shall have the privilege of entering any prod ce he may have for sale in a book which shall be kept for the purpose by the secretary. 2. Any person entering produce for sale shall be required to give full particulars, which shall guide the secretary in the sale of the same, and sign an authority to sell. 3. Samples of produce entered for sale shall be left with the secretary, and exposed for sale in the Exchange.

4. The rot n< shall be open for the sale of produce on Wednesdays and Saturdays, and at no other times shall the sale of produce be allowed. When auction sales are held, the same shall take place at 2 p.m. on the sale davs, when samples will be subm tied and sold at the upstt price in the usu d way Whea produce is sold by auction it shall be offered according to priority of entry in the books of the Exchange kept for that purpose. 5. Any person, not being a member of the Exchange, shall pay ?s for every entry of produce for sale at the time of such entry. 6. The secretary shall give members all information he can as to the market pries of any produce when requested to do so, and in case of the value rising in any produce above the price fixed as the upset pri at by the vendor, he shall have the power of withdrawing the same from sale until he can communicate with the vendor. 7. In every case the secretary shad act for the vendor and for his interest, and, should any dispute ari-*e between the buyer and seller as to the difference in v.due between the sample sold and bulk delivered, the same shall bo settled by arbi trati n in the usual way.

8. Members shall have the privilege of seeing the entry and sale book belonging to the exchange. 9. Any person ether than a member shall be allowed to enter the rooms to inspect samples and make purchases during auction sales. 10. All produce shad be sold subject to these rules.

It. When sales by auction are entered, the vendor shall pay a charge of 2s Cd in case of no sale, and It's if a sale is effected oa each entry, til sal-s ah. ll be made on vendor’s account, and no liabhity shah be incurred by the Exchange ihe business of the meitlig then terminated,