Jan. 23.] THE NEW ZEALAND GAZETTE. 175

stood that no claim need necessarily be paid in full. Any member shall have the right of appeal to the general committee.

(8.) In every case of failure the chairman shall publicly fix the prices current in the market immediately before the declaration, at which price all persons having accounts open with the defaulter shall close their transactions by buying of or selling to him such stocks, shares, or other securities as he may have contracted to take or deliver, the differences arising from the defaulter’s transactions being paid to or claimed from the chairman. In the event of a dispute as to the prices named, they shall be fixed by the special committee. The chairman shall not claim differences in a defaulter’s estate until they become due.

(9.) The special committee shall have power to decide any points not provided for in the above rules.

Addition to Rule 34:—

After the words “existing entrance fee,” “but in the event of any member’s seat being realised for the benefit of any creditors who are members of the exchange, that the exchange, should they see fit to do so, may register such transfer without the usual 10-per-cent. fee being paid.”

The buying member must supply, if required, the name of the buyer before 4 p.m. on the first business day following the sale, but if the former day shall fall on Saturday or holiday, then the name must be supplied by 10 a.m. on the following business day. If this is not done it shall be competent for the selling member to insert the name of the buying member.

Addition to Rule 10:—

Any special committee appointed by the exchange shall have power to call for and examine any books or documents belonging to a member. The said special committee shall have power, by a vote of the majority present, to impound any document or documents until a reasonable time has been allowed for them to report to the general committee, who shall decide finally as to the impounding of the documents.

Rule 47:—

Strike out all the words from and including “When shares are purchased” to the end of the rule, and substitute the following: “When shares are purchased at the morning call by the chairman under this rule the seller must deliver the documents in negotiable order to the secretary of the exchange before 1 o’clock on the following business day. The buyer may, however, stipulate for delivery before 12 o’clock on the following business day by giving the seller, and also the secretary of the exchange, either verbal notice at the time of the sale (which notice will be recorded in the sales-book) or by giving written notice to that effect before 5 p.m. on the day of the sale to both the seller and the secretary of the exchange. If the shares are purchased at the afternoon call the same conditions shall apply, except that the hours for delivery shall be 5 p.m. and 4 p.m. respectively. In the event of the seller failing to deliver the documents to the secretary in negotiable order within the required time he shall pay to the chairman such sum as the executive committee shall decide, and they shall have power to disburse the whole or part of same in such sum or sums, and to such person or persons, as they see fit. When shares are delivered to the secretary under this rule he shall as soon as possible forward them on to the buyer, and settle with both parties in ordinary course. In the case of ‘prompt delivery’ sales between members (i.e., without the intervention of the chairman) the time for delivery shall be 12.30 p.m. on the following business day.”

That when a member used the word “best,” or any word of a similar meaning, he must adhere to the same.

That it be an infringement of the rules of the exchange for members to attend private calls on days appointed as holidays.

That when the chairman is purchasing stock for prompt delivery no other member shall be allowed to compete with him.

That any member wishing to write to the papers in connection with mining claims or companies shall first submit the letter to the executive committee of the exchange for their approval and consent.

Rule 42 altered to read as follows:—

That the last clause of Rule 42 be interpreted to mean that a member’s clerk coming on ‘change, say, on the 15th of the month be entitled to attend till the 14th of the following month for the payment of £1 1s.

That telegraphic orders shall (unless stipulated to the contrary) be considered as open for execution till the closing-hour between the two telegraph-stations.

That in cases of disputes between members under Rule 8—where a hearing fee has been paid—that the party who loses the case pay the fee.

MEMBERS.

Harvey, C. W., Chairman. Irwin, F., Secretary.

Committee: Fenwick, H. S., Sievwright, G., Sligo, W. F., Smith, E. R., Wilson, H. E.

Chapman, J. A. McCracken, Thos.

Cogan, E. A. McKerrow, Thos. J.

Crawford, D. Mitchell, Hugh (Mitchell and Leslie)

Davidson, D. G. Moodie, Thos. (Perpetual Trustees Company)

Evans, R. C. T. Paterson, E. S. (N. and E. S. Paterson)

Ewing, Robert Ponsonby, J. C.

Fenwick, A. G. (Fenwick Bros.) Reeves, Harman (H. Reeves and Co.)

Fenwick, H. S. (Fenwick Bros.) Reeves, L. G. (Reeves and Co.)

Fox, C. J. Reid, H. W. (John Reid and Sons)

Fraser, Christian (Fraser and Powell) Sidey, Arthur M. (A. M. Sidey and Co.)

Gage, John (J. and W. Gage) Sievwright, Geo. (Siewright Bros.)

Garrow, J. M. E. (Garrow and Stewart) Sligo, W. F. (Sligo Bros.)

Gunn, N. M. (N. M. Gunn and Co.) Smith, E. R. (Quick and Smith)

Hamilton, A. Stewart, G. L. (Garrow and Stewart)

Harvey, C. W. Vivian, W. (Logan and Vivian)

Hemingway, George Wales, J. E.

Herdman, Alex. Walton, W. A.

Hooper, W. L. Watson, W. J.

Irwin, F. (Quick and Smith) Whyte, A. E.

Lamb, Tompson Wilson, H. E. (Wm. Brown and Co.)

Law, H. R.

Lawson, J. N. (Barr, Leary, and Co.)

Logan, John (Logan and Vivian)

Mathewson, R. A.

The exchange meets daily at 10.30 a.m. and 3 p.m., except Saturdays, when the hour of meeting is 10.30 a.m. only.

As witness the hand of His Excellency the Governor, this fifth day of January, one thousand nine hundred and three.

ALEX. WILLIS,
Clerk of the Executive Council.

Rules of the Wellington Stock Exchange approved.

Head Office, Stamp Department,
Wellington, 13th January, 1903.

IT is hereby notified that His Excellency the Governor has been pleased to approve of the following rules of the Wellington Stock Exchange, under the provisions of section 13 of “The Sharebrokers Act, 1902.”

J. CARROLL,
Commissioner of Stamps.

Approved.

RANFURLY, Governor.

RULES OF THE WELLINGTON STOCK EXCHANGE.

Name.

1. THIS association shall consist of the undersigned stock and share brokers, and of such persons as may be hereafter elected in accordance with these rules, and shall be called “The Wellington Stock Exchange.”

When the word “association” occurs in the following rules and regulations it shall be taken to mean the Wellington Stock Exchange.

Objects.

2. The objects and purposes of the association are the exchange of quotations, the facilitating of purchases and sales of shares, scrip, stock, and debentures, and the maintenance of honourable dealings amongst its members, and, for that purpose, the decision and settlement of disputes between members or affecting members.

Entrance fee.

3. The entrance fee for every elected member shall be £25, to be lodged with the secretary at the time of nomination.

Subscription.

4. The annual subscription shall be £5 5s., payable within thirty days from the 1st day of October in each year, and any other calls for current expenses to be made by the Committee, and payable within fourteen days from the date of such call.

Members, how admitted.

5. Members shall be elected by general ballot. Each candidate for admission shall be proposed by one member and seconded by another, in their own handwritings, in a book kept for that purpose, and the name, occupation or profession, and address of each candidate shall be stated, and at the next meeting of the association the secretary shall state the name of the candidate so proposed.