CORN EXCHANGE.

Lyttelton Times, Volume LI, Issue 5604, 10 February 1879, Page 6

CORN EXCHANGE.

A meeting of Directors of the management of the Com Erchangw was held at the rooms on Saturday last; present—The Chairman (MrThos. Brace), Messrs Perryman, Henderson, Amyes, Bailey, Brown, O’Callaghan, Woodman, Attwood, Dick, and Overton.

The Secretary read a letter from Mr David Patchett, stating that he was sorry to say, from ill health, he could not act as a Director for this year, and therefore tendered his resignation. Proposed by Mr Woodman, seconded by Hr Perryman—“ That Mr Merten be elected as a Director to fill the seat vacated by the resignation of Mr David Patchett.” Carried unanimously. Proposed by Mr Bailey, seconded by Mr Dick—“ That the Chairman be empowered to procure 100 printed copies of the rales for the use of the Corn Exchange.” Carried unanimously. It was resolved—“ That the Corn Exchange be open on Saturday next for transacting business, and that the Chairman be authorised to arrange for an auctioneer to act parma* nently for the Corn Exchange. The following rales, for the guidance of the Directors were unanimously agreed to;— “1. That five members shall form a quorum. “2. That weekly Board meetings shall take place every Saturday at 2 o’clock. “ 3. That if any member shall absent himself for fire consecutive meetings, his seat yha.ll be declared vacant, unless satisfactory reasons be given to the Directors. . “4. In case of any member resigning or . a - vacancy occurring, the majority of the mem* bars present at any subsequent meeting of the Directors, shall have the power of filling up ' such vacancy or vacancies by electing a j Director oat of the list of subscribers to the Cbm Exchange, andthatany subscribershall be eligible for such nomination. : ' That reporto of the grain and produce shall be prepared by the Chairman and Secretary for insertion in the two daily papers for Thursdays and Monday’s issue, and in the two weekly papers on Saturday.” ( ; i The folbving arethe rales fartheguidance of the sale of produce in the Bxchango •— * i * 1. Every member •hall hare &e privilege of entering any produce he ,jniw hOTßsor sale in a book which shall bo kept tat the, purpose by the Seoretaiy. . l .' “2. Any person entering, produce for aale shall be required to give rail particulars, which shall guide the Secretary in the sale or the same, and sign an authority to sell. ■ 1 ‘‘g, i Samples at produce entered for sale - sbaJl be left with the Secretary, and exposed for salftm tbe Exchange. «rW open for ;the sale - of prodaCe 0a Wednesdays, and at no other, , tuneslihall the kale of produce be allowed. Whari auotion sales are held, the same stell take dace at 2pjn. on the sale days,Fhen sampWwill be submitted, and sold at the upset price in the dsual way. When produce it shaUbo to priority ofrafariu the books of the Sxchange, kept for that purpose. . ... ‘‘ 5, Any person not bemgameinbs* of the

Exchange -shall; pay 5b ri#p • pTwy elniry of produce for-sale at thc time'Of BUoh entry. '“:6. ®he Secretary shall givomembors all information lie can as-tobhemarket price of any produce -.whenever to do so, and in -case of the valuerising in any produce above the price flxedoeuthe upset price by the vendor, iho shall have the power of withdrawing the same from-tole -until he can oommunioate-witb the vendor. . " 7. <ln every case the 'Seoastary shall act for the -render and for hfoiintoreat, and should any dispute .arise between‘ the buyer and seller as to?the differeneoiin value bor ■tween the-sample sold and balh delivered, the same shaU be-settled by arfaiteation in the ’usual way. “6. Heathers .-shall have the gprivilego of -seeing, theventrynand eale boobfceldnging to ■the Kxchango. *«. 0. An r i person other than A member shall :be allowed to enter = the rooms «to inspect rumples and make purchasesdurisg auction -sales.

“ 10 All produce -shall bo • soldraubjeot to ttiiese rules. -Ml. When :<9JeB ibyAuctioh are entered ■U»e,vendor shall : pay A .charge of :Ss fid, in .(utu.of no sale, and lOs.if a safe is effected on -each entry. AU .sales-shall be madeoon vendor account, and no liability shall .be incurred by-the -Exchange.” The meeting themterminatod. ■ ' 1 , ?