Marketing Pecans 157 



5. In order to facilitate the economic and satisfactory marketing 

 of the pecans and in order that no preference shall be in favor of 

 any Member, it is understood and agreed that all pecans delivered 

 by the Member to the Exchange may, after grading and before 

 packing, be pooled or intermingled with pecans of like grade, type 

 and quality delivered to the Exchange by other Members ; and the 

 Exchange shall be the sole judge of the grade to which all pecans 

 delivered belong. 



6. The Exchange may in its discretion establish one or more 

 pools regulated by or conditioned upon the date of delivery to the 

 Exchange by the Member ; and nuts delivered in time to come within 

 the first pool may take priority in settlement over late pools de- 

 livered ; and the determination by the Exchange of grades, pools, 

 standards and classifications and prices for which nuts shall be sold, 

 and differential as to grades and prices, shall be final and con- 

 clusive. 



7. As soon as the nuts have sufficiently formed upon the trees 

 in each year, and whenever thereto requested by the Exchange, the 

 Member shall mail to the Exchange at its head office an estimate 

 of the yield of pecans covered by this Marketing Agreement, and 

 also each year immediately upon the harvesting of such nuts mail 

 to the Exchange a statement of the amount of such yield. 



8. As soon as the first pool good nuts in each year delivered by 

 the Member can be properly classified as to grade and quality the 

 Exchange will make as substantial an advance payment thereon as, 

 in its judgment, the marliet and financial conditions will permit of; 

 and in the same manner an advance on good nuts delivered in subse- 

 quent pools of that year ; the balance due the Member in any year 

 will be distributed at the close of the season's business when all 

 pools have been sold out, the Exchange first deducting from such 

 final settlement all its own charges for inspection, propagation, mar- 

 keting, incidental and necessary operations, and the charges of the 

 local or sub-Exchange as in Section 3 provided ; all remittances may 

 be made by the Exchange to the Member direct or through the 

 aforesaid local or sub-Exchange. 



9. Any losses occurring from the selling of any nuts by the 

 Exchange due to failure of collection or loss in transportation or 

 handling; and storage, reserves, interest and insurance charges 

 may also in the discretion and judgment of the Exchange be pro- 



