.EMPTY REFINED PETROLEUM OR NAPHTHA BARRELS, of American manufacture, with margin of 10 per cent., more or less,

....The said barrels to be

......

shipped in sound and good order, from Port of during month of.... ...per sailing vessel or vessels, in shipments to suit sellers, of which shipments-each and every-timely advices shall be furnished buyers, with date of sailing, Port, &c., and said barrels are to be delivered free on Dock in Port of New York.

It is further understood, that the buyers are to receive said barrels on arrival of each vessel, subject to the Rules of the New York Produce Exchange, in force at this date, for "Classification of Petroleum Barrels," and pay for the same in cash, on delivery, as follows, viz.: For Barrels of 1st class...

Any dispute as to classification shall be decided by re-inspection by an Inspector of the New York Produce Exchange, to be named by and at the expense of the party demanding such inspection, and his inspection shall be accepted by buyer and seller as final. If any portion of the barrels under this contract, which may have been shipped and duly advised, as herein specified, shall be lost in transit, the sale of such portion shall be void. Subject to the Rules of the New York Produce Exchange. Brokerage.. cents per barrel by seller.

Broker.

The Committee on Petroleum,

Appointed, in accordance with these Rules, June 16, 1879.

RULES

REGULATING THE TRADE IN DISTILLED SPIRITS

AMONG MEMBERS OF THE

NEW YORK PRODUCE EXCHANGE.

ADOPTED AUGUST 1, 1873, AND AMENDED MARCH 25, 1879.

RULE 1.-At the first meeting of the Board of Managers after their election, or as soon as practicable thereafter, the President shall (subject to the approval of the Board), appoint as a COMMITTEE ON DISTILLED SPIRITS, five members of the New York Produce Exchange, who are known as members of the Distilled Spirits Trade. This Committee shall remain in office until their successors are appointed, unless the Board shall otherwise direct, and its duty shall be to properly discharge the obligations imposed upon them by these rules, and also to consider and decide all disputes arising between members dealing in Distilled Spirits which may be submitted to them. A majority of the Committee shall constitute a quorum, but the Committee may fill temporary vacancies, if requested by either of the disputants, with some person or persons representing the same interest as the absent member or members, and a decision of a majority of those present at a hearing of a case shall be final. They shall keep a record of their proceedings, and a fee of fifteen dollars shall be paid to the Committee for each case heard by them, to be paid by the party adjudged to be in fault, unless otherwise ordered by the Committee. Provided, however, that nothing herein shall prevent settlement of questions

of difference by private arbitration, or as provided for in the By-Laws.

RULE 2.—It shall be the duty of the Committee on Distilled Spirits to approve and license, as Inspectors and Gaugers of Distilled Spirits, such persons as, upon examination, are found duly qualified. The Committee shall also have power to revoke such licenses for cause.

RULE 3.-Inspectors and Gaugers must make their returns in accordance with the straight gauge rod, the wantage rod, and the hydrometer used by the Government in the assessment of the tax on Distilled Spirits, or a Gendar hydrometer which shall conform in all respects to the Government standard.

RULE 4.-Inspectors and Gaugers shall make a detailed return (in duplicate) of each lot inspected, showing the serial number of each barrel, the serial number of each stamp affixed thereto, the gauge, wantage, proof, and number of proof gallons. In case of measurement on account of complaint, the Inspector and Gauger shall make a certificate, in duplicate, showing the serial numbers of the barrels measured, and the result of such measurement.

RULE 5. The seller shall have the right to designate the Inspector and Gauger, who shall be entitled to receive ten (10) cents per barrel for inspection, to be paid by the seller.

RULE 6. All complaints relative to the inspection of goods sold must be made in writing, and addressed to the seller, who shall immediately notify the Inspector and Gauger to verify or correct his inspection.

RULE 7.-Complaints concerning inspection must be made within forty-eight hours after the delivery of the order for the goods.

RULE 8.-No claim for error in gauge shall be allowed, unless all the barrels of the lot in question be submitted, and have not received any driving or other cooperage subsequent to the inspection complained of.

RULE 9.-In case of a complaint based upon an alleged error in gauge, the Inspector and Gauger who made the original in

spection shall immediately measure the lot in question in conformity with the following, viz.: the average gauge of a lot of twenty-five (25) barrels or more shall be estimated by the actual measurement, with a sealed measure, if not less than one barrel in five of the lot, and the serial numbers of the barrels so measured shall, when lot sold runs serially, be in direct rotation. In lots of less than twenty-five barrels, either buyer or seller may insist upon the measurement of the whole lot, or of any portion thereof, greater than one barrel in five. If the complaint be ascertained to be not well founded, the Inspector and Gauger shall be entitled to receive five (5) cents per barrel on the lot so measured, to be paid by the complainant. Should the error have arisen from the false shape or construction of the barrel, he shall be entitled to receive five (5) cents per barrel on the lot, to be paid by the seller. Should the fault have been his own, through the error of his instruments or otherwise, he shall not be entitled to receive any compensation for such measurement; provided, no claim on account of barrel measurement shall be considered adjustable unless made within forty-eight hours after purchase, exclusive of Sundays and legal holidays.

RULE 10.-Upon the receipt of an amended Inspector's and Gauger's return, or a certificate showing amendment, the seller shall alter his bill in accordance with said amendment, which bill, so altered, shall be paid by the buyer.

RULE 11.-When a sale is made, and order given before 2 o'clock P. M., the buyer must present the order for acceptance on the same day. If it be not accepted, he must notify the seller of the fact before 12 o'clock noon on the next succeeding business day.

RULE 12. When a sale is made, and order given after 2 o'clock P. M., the buyer must present the order for acceptance before 12 o'clock noon on the next succeeding business day. If it be not accepted, he shall notify the seller of the fact before 12:30 o'clock P. M. on that day.

RULE 13.-Highwine barrels must be new (not re-filled), and made of well-seasoned timber of the kind usually em