Storage 3¢ per 100 lb. bag Handling in and out, charged with first month's storage 5¢ per 100 lb. bag Negotiable warehouse receipt 50¢ If you accept delivery on the exchange, your charges are: Carloading 1-1/4¢ per 100 lb. bag Acceptance of your order The form of our acceptance of your order reads as follows: In accordance with your instructions we have this day made the following transactions in STANDARD FINE GRANULATED SUGAR for your account and risk, subject in all respects, and in accordance with, the Rules, By-Laws, Regulations and Customs of THE NEW YORK COFFEE AND SUGAR EXCHANGE, Inc., and the Rules, Regulations and Requirements of its Board of Directors, and all amendments that may be made thereto. All transactions made by us for your account contemplate the actual receipt and delivery of the SUGAR and payment therefor. The right is reserved to close transactions when margins are exhausted or nearly so, without notice. +=================================================+ |Bags of Refined Sugar | Month of Delivery| Price | |----------------------+------------------+-------| | Bought | Sold | | | |----------+-----------+ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |__________|___________|__________________|_______| Raw Sugar Futures Prior to the inauguration of trading in Refined Futures, Raw Sugar Futures were used by many jobbers for hedging and protecting their Refined requirements. The theory of operation is that the raw price will be about equivalent to the refined price after duty and the charge for refining are added. While the Raw Sugar market will at times get out of line with refined, both favorably and unfavorably, this cannot continue for any long period. When the Raw Futures market is favorably out of line, it may be more to your advantage to use this market, rather than the Refined Futures market. At the present time there is the added advantage that the volume of trading is greater in Raw than in Refined. When buying or selling Raw Sugar Futures, you may figure that the variation on a minimum lot of 50 tons would be equivalent to the same variation of 1120 bags or 320 barrels. We give you below herewith details of contract and trading conditions: All contracts for future delivery shall be for 50 tons of 2,240 pounds each and multiples thereof.