156 Pecan-Growing 



nuts to be handled and as to the revenue necessary to meet its 

 operating, fixed and necessary expense ; and this agreement on the 

 part of the member to sell all nuts owned or controlled by him 

 through the medium of the Exchange will materially conduce to 

 the accomplishment of those purposes ; now, 



Therefore, for and in consideration of like agreements on the part 

 of the other like members of the Exchange ; and the mutual covenants 

 and agreements of the said parties hereto they have and now do 

 hereby mutually covenant and agree as follows, to-wit : 



1. All pecan nuts owned or controlled by the Member during the 

 years 1923, 1924, 1925, 1926 and 1927 shall be sold through the 

 Exchange, except only such nuts as the Member may desire to re- 

 serve for personal use but not for sale. And during the term the 

 Member shall not buy, sell or trade in pecan nuts excepting they 

 be sold by the Member through the Exchange under this contract. 



2. The Member hereby appoints the Exchange the sole and exclu- 

 sive agent of the Member for the purposes of this Agreement with 

 full power, right, title and authority in its own name to transact such 

 business and take such action as may be necessary, incident, or con- 

 venient for the accomplishment thereof; and to borrow money and 

 mortgage or otherwise pledge the said pecans or any of them, for 

 the purpose of obtaining advances for Members and for the corporate 

 purposes of the Exchange. 



3. The nuts shall be delivered by the Member at his expense 

 upon the order of the Exchange to some local or sub-Exchange plant 

 for curing, grading, classifying or otherwise processing and packing 

 and thereafter to be sold by the Exchange; charges for the services 

 of the said local or sub-Exchange shall always be reasonable and 

 only sufficient to cover the operating, reserve, fixed and necessary 

 charges, the said local or sub-Exchange operating in a cooperative 

 way in behalf of the Exchange and for the good of the Members 

 of the Exchange. 



4. The nuts shall be delivered to the Exchange or its order at the 

 earliest reasonable time after maturity ; and the varieties shall be 

 unmixed ; and until delivery to the Exchange the nuts shall be 

 handled carefully and shall be spread and kept from heating in 

 bulk ; and if to be shipped to the Exchange by common carrier the 

 nuts must be air dried enough to insure against loss by heating in 

 transit. 



