No rebatement
 or
allowance
for business
nsrocured.

To nonmembers.


Joint
accounts
and nonmember

partners.
Stocks.

$1.00
minimum.

[nactive
Stocks.

Bonds.

APPENDIX

649

n this Article prescribed; and shall be net and free from any
-ebate, return, discount or allowance made in any shape or
nanner, or by any method or arrangement direct or indirect.
No bonus or percentage or portion of a commission, whether
such commission be at or above the rates herein established,
or any portion of a profit except as may be specifically pernitted
 by the Constitution or a Rule adopted by the Governing
Committee, shall be given, paid or allowed, directly or indirectly,
 or as a salary or portion of a salary, to a clerk or
person for business sought or procured for any member of the
Exchange or firm registered thereon,
¢ Sec. 2. Commissions shall be as follows:
(a) On business for partics not members of the Exchange,
mcluding joint account transactions in which a non-member is
imterested; and on transactions for partners not members of
the Exchange:

* On STOCKS,

(except as to Inactive Stocks,
as stated below):
PRICE

Selling under s50¢
Selling at so¢ and above, but under $1
Selling at $1 and above, but under $10
Selling at $10 and above, but under $25
Selling at $25 and above, but under $50
Selling at $50 and above, but under $75
Selling at $75 and above, but under $100
Selling at $100 and above, but under $200
Selling at $200 and above, but under $250
For each additional $50 in price

RATE PER SHARE
\s mutually agreed
Not less than 3¢
Not less than 7l4¢
Not less than 1215¢
Not less than 15¢
Not less than 1714¢
Not less than 2o0¢
Not less than 25¢
Not less than 3o¢
e¢ additional

provided, however, that on every transaction which involves an
amount of $15 or more, the minimum commission shall be not
less than $1.00.

*+ ON INACTIVE STOCKS:
(as designated by the Committee of Arrangements):
PRICE
Selling at less than $100

RATE PER SHARE
Not less than 20¢
i The same rates as
* provided for other
stocks

Selling at $100 and above

{ ON Boxnbs:
Not less than $2.508 per $1,000 par value.

\

* Effective June 10, 1926.
F See also Toraganh (d).
} As amended October 29.

1925, and Tanuary 17. 1930