September 1, 1911.] 



THE INDIA RUBBER WORLD 



487 



Shall Crude Rubber Be Listed ? 



POR several months there has been a movement on foot look- 

 ing toward the listing of crude rubber on the New York 

 Produce Exchange. As a preliminary to a thorougli examina- 

 tion into the subject the India Rubber World has secured 

 opinions from a number of those most interested, rubber manu- 

 facturers and importers and excliange members. 



THE PRODUCE EXCHANGE— A BRIEF DESCRIPTION. 



The New York Produce Exchange is a great big market 

 place. Nothing more, nothing less. On its floor wheat, corn, 

 rye, oats, barley and other grains, flour, meal, hops, hay, 



To trade with each other as principals and for others as brokers 

 and commission men. 



To make initial arrangements for the care of all the details 

 incident to business transactions, such as freight engagements, 

 insurance, inspection, warehousing, delivery, etc. 



It is, moreover, a market place where all transactions are safe- 

 guarded; where men must deliver what they sell and pay for 

 what they buy; where, by force of all the circumstances, honesty 

 must prevail, for here customs of trade have crystallized into 

 rule and regulation, all grades and qualities are carefully defined 

 and all trade terms and phrases clearly understood. 



Each one of the various trades, such as the Flour Trade, the 



The Quot.mion Bo.nrd, New York Produce Exch.vnce.- 



straw, seeds, pork, lard, all sorts of meat food products, tallow, 

 greases, cottonseed oil and various other animal and vegetable 

 oils, naval stores of all kinds, butter, cheese and other c. m- 

 modities are bought and sold in quantities ranging from a single 

 package to whole cargoes. 



It is a place where men engaged in various mercantile pursuits 

 and in allied industries, gather for various purposes. 



To keep in touch with each other and thus in touch with all 

 that is going on in the business world. 



; To gather daily, information concerning growing crops, stpdcs. 

 J of merchandise, movements of produce,' current quotatfons'for 

 tail .sorts of produce in all markets of the world. 



Grain Trade, the Cotton Oil Trade, the Steamship Trade, etc., 

 is to all intents and jnirposes an exchange by itself. Its members 

 meet together in a given place on the floor. It is presided over 

 by a trade committee, which interprets its rules and decides all 

 disputes under the rules. It makes its own rules and regulations, 

 subject to the approval of the board of managers; and in th.- 

 making of its rules every trade member has a vote, thus making 

 its rules the composite judgment of all interests concerned there- 

 in — great corporation, small dealer, buyer, seller, broker, com- 

 njission man, exporter, etc. ■ '• >' ^ \' 



Over and above these rulr 

 Exchange ..itself, apply to all trade 



Iiy laws ahd rules df the 

 and have, to do largely.. 



