^6 THE BUTTER INDUSTRY IN UNITED STATES [390 



made in the New York Mercantile Exchange, the following 

 form x of contract is filled out and signed by both the seller 

 and buyer : 



No 



This is to certify that the following sale and purchase has 

 been made by the respective signers hereto, under and subject 

 to the rules of the New York Mercantile Exchange, 



this 



day of 191 



Seller 



Address 



Purchaser 



Address 



Quantity 



Grade 



Class 



Price 



Delivery 



Seller. 



Purchaser 



Original margins deposited with me this day by each party 



hereto dollars. 



Superintendent. 



New York, 191, 



According to no. 2 of the Executive Committee's rules, 

 each party to the contract is required to deposit with the 

 Superintendent of the Exchange a margin equal to 10 per 

 cent of the contract price at the time of the sale and a 

 further margin from time to time to cover variations in the 

 market price. The margins are deposited in a bank desig- 

 nated by the Finance Committee of the Exchange. Con- 



1 Butter Rules of the New York Mercantile Exchange, Oct. I, 1914. 



