Page 1 

Commodity Futures Trading Commission 

CEA CASES 

NAME: GENERAL FOODS CORPORATION, CHARLES W. METCALF, DANIEL F. RICE AND COMPANY, 

DANIEL F. RICE, LAWRENCE J. RYAN, AND PHILIP R. O'BRIEN 

DOCKET NUMBER: 34 

DATE: MAY 26, 1945 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE WAR FOOD ADMINISTRATOR 

In re General Foods Corporation, Charles W. Metcalf, Daniel F. Rice and Company, 

Daniel F. Rice, Lawrence J. Ryan, and Philip R. O'Brien, Respondents 

CE-A Docket No. 34 

Complaint and Notice of Hearing under Section 6(b) of the Commodity Exchange 

Act 

There being reason to believe that the respondents have violated the 

Commodity Exchange Act (7 U.S.C. Secs. 1-17a), and the rules and regulations 

promulgated pursuant thereto, this complaint is issued alleging the following: 

1. 

General Foods Corporation is a Delaware Corporation having its principal 

place of business and office in New York, New York, and had, during the time 

covered by this complaint, and now has membership trading privileges on The 

Board of Trade of the City of Chicago, a duly designated contract market under 

the provisions of the Commodity Exchange Act, hereinafter referred to as the 

Chicago Board of Trade. 

Charles W. Metcalf, New York, New York, was during the time covered by this 

complaint and is now Executive Vice-President of General Foods Corporation and a 

member of the Chicago Board of Trade. 

Daniel F. Rice and Company was during the time hereinafter mentioned, and is 

a partnership composed of Daniel F. Rice, Joseph J. Rice, Walter T. Rice, 

William F. Rowley, and Joseph A. Fagan (admitted to partnership in January, 

1945), all, with exception of Walter T. Rice and Joseph A. Fagan. members of the 

Chicago Board of Trade, and has its principal place of business and office 

in Chicago, Illinois. 

Lawrence J. Ryan, Chicago, Illinois, was during the time covered by this 

complaint and is now a member of the Chicago Board of Trade. 

Philip R. O'Brien, Chicago, Illinois, and Baileys Harbor, Wisconsin, was 

during the time covered by this complaint and is now a member of the Chicago 

Board of Trade. 

2. 

Daniel F. Rice and Company and Lawrence J. Ryan were during the time covered 

by this complaint, and are now, registered as futures commission merchants under 

the provisions of the Commodity Exchange Act. 

Philip R. O'Brien was during the time covered by this complaint and is now 

registered as a floor broker under the provisions of the Commodity Exchange Act. 
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3. 

Charles W. Metcalf exercised management and directed the transactions of 

General Foods Corporation as to the matters and things and at the times 

hereinafter set forth. 

4. 

The respondents did, individually and collectively with each other and 

others, during the times and in the manner set forth in paragraph 7 below, 

attempt to corner and did corner the actual rye in Chicago, and particularly rye 

of grades declared by the Chicago Board of Trade as deliverable and stored in 

those public elevators at Chicago from which delivery could be made in 

satisfaction of futures contracts on and subject to the rules of the Chicago 

Board of Trade, such rye being hereinafter called deliverable rye. 

5. 

The respondents did, individually and collectively with each other and 

others, during the times and in the manner set forth in paragraph 7 below, 

attempt to corner and did corner the 1944 May rye futures on the Chicago Board 

of Trade. 

6. 

The respondents did, individually and collectively with each other and 

others, during the times and in the manner set forth in paragraph 7 below, 

attempt to manipulate and did manipulate prices of rye futures contracts and 

actual rye on and subject to the rules of the Chicago Board of Trade. 

7. 

(a) Respondent corporation purchased, between December 1, 1942, and January 

4, 1943, 1,055,000 bushels of May 1943 rye futures and 945,000 bushels of July 

1943 rye futures on the Chicago Board of Trade, and held the resulting net long 

position of 2,000,000 bushels until May 1, 1943, when it began to take delivery 

of rye in satisfaction of its futures contracts. During the month of May 1943, 

respondent corporation, while thus taking delivery of rye, purchased additional 

May 1943 rye futures in such a manner that between May 5 and May 13, it 

maintained a market position equal to the limit on maximum net long speculative 

position permitted to be held under the order of the Commodity Exchange 

Commission issued December 22, 1938, namely, 2,000,000 bushels, except that on 

May 8 it exceeded this limit to the extent of 20,000 bushels. 

(b) Respondent corporation; during the month of May 1943, took delivery of 

approximately 2,420,000 bushels of rye in satisfaction of its futures contracts 

for May delivery, and between May 4 and May 18, it purchased from respondent 

Daniel F. Rice and Company a total of 540,000 bushels of deliverable rye in 

Chicago. All this rye was held in Chicago by the respondent corporation 

and on May 31 it amounted to approximately 52 percent of the total deliverable 

supply in Chicago on that date, namely, 5,697,985 bushels. 

(c) Respondent corporation, between May 24, 1943, and June 3, 1943, while 

holding the 945,000 bushels of July 1943 rye futures mentioned in (a) above, 

purchased 705,000 bushels more of July 1943 rye futures and 350,000 bushels of 

September 1943 rye futures on the Chicago Board of Trade, thus maintaining a 

long market position of 2,000,000 bushels until July 1, 1943, when it began to 

take delivery of rye in satisfaction of these futures contracts. On July 1, 

1943, it took delivery of 1,115,000 bushels and purchased additional futures 

contracts for July 1943 delivery in the total amount of 390,000 bushels. During 

the remainder of July 1943, an additional 925,000 bushels of rye were received 

in satisfaction of its futures contracts. All this rye was held by it in 
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addition to the rye acquired in May, and on July 31, 1943, it held 5,000,000 

bushels of deliverable rye in Chicago or approximately 69 percent of the total 

deliverable supply in Chicago on that date, namely, 7,274,202 bushels. 

(d) Respondent corporation, between September 1 and September 3, 1943, took 

delivery of 350,000 bushels of rye in satisfaction of its remaining futures 

contracts. This amount added to its previous holdings resulted in its holdings 

on September 3, 1943, 5,350,000 bushels of deliverable rye in Chicago or 

approximately 66 percent of the total deliverable supply in Chicago on that 

date, namely, 8,095,464 bushels. 

(e) Respondent corporation, during the period October 19 to November 20 1943, 

by a series of further purchases, accumulated a total long position of 1,880,000 

bushels of December 1943 rye futures on the Chicago Board of Trade and during 

the month of December 1943, took delivery of rye in satisfaction of all these 

futures contracts. This amount added to its previous holdings 

resulted in its holding on December 31, 1943, 7,230,000 bushels of deliverable 

rye in Chicago or approximately 76 percent of the total deliverable supply in 

Chicago on that date, namely, 9,487,525 bushels. 

(f) Respondent corporation by its purchases of Chicago rye futures and actual 

rye in Chicago, and holding of rye as indicated in paragraphs (a) to (e) 

inclusive, all of which operations were speculative, not being offset by sales 

of, or needs for actual rye, acquired and maintained a dominant position in the 

rye market at Chicago. Its aggressive purchasing and holding operations caused 

a tight situation in the Chicago rye market, with a resultant inflated and 

manipulated price for both rye futures and actual rye in Chicago. This 

attracted out-of-position rye to Chicago resulting in an otherwise unwarranted 

increase in the deliverable supply of rye in Chicago from 3,444,769 bushels on 

May 1, 1943, to 9,487,525 bushels on December 31, 1943. During the same period 

it acquired more rye than that represented by the increase in deliverable 

supply. 

(g) Respondents Daniel F. Rice and Lawrence J. Ryan on December 31, 1943, 

together, held approximately 740,000 bushels of deliverable rye, some of which 

rye had been received by them in satisfaction of futures contracts and the 

remainder by purchases in Chicago. On the same date as shown on Schedule A 

attached hereto and made a part hereof, customers of respondent Daniel F. Rice 

and Company, whose trading was directed or definitely influenced by respondents 

Daniel F. Rice and Daniel F. Rice and Company, hereinafter referred to as 

Schedule A customers held 235,000 bushels of deliverable rye. These combined 

holdings together with the 7,230,000 bushels held by respondent corporation 

amounted to approximately 86 percent of the total deliverable supply in Chicago, 

namely, 9,487,525 bushels. 

(h) Respondent Metcalf, on November 29, 1943, pursuant to instructions of the 

Business Conduct Committee of the Chicago Board of Trade, appeared before this 

Committee and was informed in substance that the holdings of rye in Chicago by 

respondent corporation, including its futures and actual rye, also December 1943 

rye futures contracts for 175,000 bushels purchased for his personal account 

were in fact speculative and might tend to create a corner and dominate price 

movements of rye in that market. The Committee instructed Metcalf that no 

further purchases of December 1943 rye futures or warehouse receipts 'for 

Chicago rye should be made either for his personal account or for the account of 

respondent corporation without prior consultation with and consent of the 

Business Conduct Committee. In addition to the 175,000 bushels mentioned above 

as being for the personal account of respondent Metcalf, he was also carrying 

270,000 bushels additional long December 1943 rye futures which was carried on 

the books of brokerage houses in the names of relatives and friends from whom he 

held powers of attorney. The foregoing instructions were later made applicable 

to the remainder of the period covered by this complaint. 
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(i) While respondent corporation and respondent Metcalf were prohibited from 

acquiring futures or actual rye on the Chicago Board of Trade, as set forth in 

paragraph (h), the sole agent for the corporation's actual rye, namely, Daniel 

F. Rice and Company, together with the remaining respondents engaged in a 

concerted heavy purchasing program in May 1944 rye futures on the Chicago Board 

of Trade, as set forth in paragraphs (j), (k), and (l), thereby assuming and 

continuing the futures end of the market operations when the respondent 

corporation could not do so in its own name. Thus, the dominant control of the 

rye market was maintained and increased, the price of futures and actual rye in 

Chicago being kept at a manipulated level. 

(j) Respondent Daniel F. Rice and Company was authorized to act as sole agent 

for the respondent corporation with respect to its holdings of actual rye during 

the winter of 1943-1944 and spring of 1944, and during this period no portion of 

respondent corporation's holdings was sold or delivered until after the 

expiration of the May 1944 rye futures although not in excess of 10,000 bushels 

of this rye was shipped from Chicago by respondent corporation. Meanwhile, such 

offerings as were made by respondents were restricted to those prospective 

buyers who would move the rye into consumptive channels and who would not place 

it at the disposal of such other persons as might offer it for sale or delivery 

on the Chicago Board of Trade. This arrangement and understanding permitted the 

respondents to operate in the futures market with assurance that none of such 

rye would be delivered on May 1944 futures contracts. 

(k) Respondents Daniel F. Rice, Ryan, and O'Brien, engaged in large purchases 

of May 1944 rye futures on the Chicago Board of Trade as the result of which: 

(1) they collectively held on December 24, 1943, long May 1944 rye futures 

contracts amounting to 2,090,000 bushels, while Schedule A customers of 

respondent Daniel F. Rice and Company, as shown on Schedule A, held 3,555,000 

bushels. These combined holdings accounted for approximately 26 percent of all 

open May 1944 rye futures contracts on the Chicago Board of Trade, namely, 

21,715,000 bushels; (2) they collectively held on February 11, 1944, long May 

1944 rye futures contracts amounting to 4,595,000 bushels, while Schedule A 

customers of respondent Daniel F. Rice and Company, as shown on Schedule A; held 

3,355,000 bushels. These combined holdings accounted for approximately 38 

percent of all open May 1944 rye futures contracts on the Chicago Board of 

Trade, namely, 21,077,000 bushels; (3) they collectively held on April 29, 1944, 

long May 1944 rye futures contracts 

amounting to 3,180,000 bushels, while Schedule A customers of respondent Daniel 

F. Rice and Company, as shown on Schedule A, held 2,515,000 bushels. These 

combined holdings accounted for approximately 46 percent of all open May 1944 

rye futures contracts on the Chicago Board of Trade, namely, 12,404,000 bushels. 

(l) Respondents on April 29, 1944, together with Schedule A customers of 

Daniel F. Rice and Company, as shown by Schedule A, held 8,202,755 bushels of 

deliverable rye in Chicago, and long May 1944 rye futures for 5,695,000 bushels 

or a combined futures and actual rye position of 13,897,755 bushels. The total 

supply of all grades of rye in Chicago on that date was 12,766,950 bushels, of 

which 12,390,660 bushels was deliverable rye. 

(m) A large percentage of the total supply of rye in Chicago referred to in 

paragraph (l) constituted Canadian rye, there being imported in excess of 

3,700,000 bushels of Canadian rye during the winter of 1943-44, This Canadian 

rye together with other out-of-position rye had been attracted to the Chicago 

market by reason of the inflated price and the relationships between futures 

prices at Chicago, resulting from respondents' operations in both futures and 

actual rye, making that market the most profitable outlet for such rye. 

(n) During the period while the respondents were, as heretofore alleged 

accumulating and holding their positions in rye futures and actual rye in 

Chicago, as set forth in paragraph (l), they endeavored to prevent increases in 

the deliverable supply of rye and engaged in active purchasing of May 1944 
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Winnipeg rye futures, accumulating a large position as set forth in paragraph 

(o) for the purpose and with the effect of preventing rye from moving from 

Canada to Chicago for delivery on the May 1944 Chicago rye future 

(o) Respondents Daniel F. Rice and Daniel F. Rice and Company, acting for 

Schedule A customers as shown on Schedule A and respondent Ryan, on April 29, 

1944, held long May 1944 rye futures contracts on the Winnipeg, Canada, Grain 

Exchange totaling 2,075,000 bushels of rye purchased for May 1944 delivery on 

the Winnipeg market. The delivery of all except 25,000 bushels of this rye was 

taken by them in satisfaction of these futures contracts, Approximately 

2,000,000 bushels of this rye was held throughout the month of May 1944. 

(p) Respondents Daniel F. Rice and Company, Daniel F. Rice, Ryan, and 

O'Brien, for themselves and Schedule A customers, as shown on Schedule A, during 

the month of May 1944 took delivery in satisfaction of futures contracts and 

withheld from the market 3,750,000 bushels of rye. This rye represented 91.5 

percent of the rye involved in deliveries in May 1944 Chicago rye futures, 

namely, 4,100,000 bushels. 

(q) The respondent corporation in May 1944, continuing its position of 

maintaining the actual rye part of the market operation acquired 2,000,000 

bushels of deliverable rye in Chicago from respondents Rice, Ryan and O'Brien, 

as set forth in paragraph (r), together with Schedule A customers of Daniel F. 

Rice and Company as shown on Schedule A. This transaction was for the purpose 

of relieving the other respondents from the burden of carrying this rye, at the 

same time maintaining the inflated price by insuring the withholding of this rye 

from the Chicago market. 

(r) Respondent corporation, under dates of May 13, and May 15, 1944, 

purchased through respondent Daniel F. Rice and Company, 1,999.466 bushels 

of deliverable rye. In this transaction the sellers were respondent Daniel F. 

Rice, in the amount of 527,233 bushels; respondent. Ryan, 667,233 bushels; 

respondent O'Brien, 665,000 bushels; and Schedule A customers of respondent 

Daniel F. Rice and Company, as shown on Schedule A. 140,000 bushels. Most of 

said 1,999,466 bushels of rye had been received by the sellers thereof in 

satisfaction of futures contracts on the Chicago Board of Trade during May 1944 

and prior thereto. In essence, this was a private transaction or "office 

trade." 

(s) Respondent corporation on May 27, 1944, after the transaction in (r) 

above, held approximately 9,219,000 bushels of rye while the other respondents, 

together with Schedule A customers of respondent Daniel F. Rice and Company, as 

shown on Schedule A, held approximately 2,586,000 bushels, all of which 

11,805,000 bushels was deliverable rye. These combined holdings as of May 27, 

1944, amounted to approximately 89 percent of the total deliverable supply in 

Chicago, namely, 13,263,606 bushels, an unprecedented amount in respect to the 

storage of" rye in public elevators at Chicago. 

(t) During the period of the respondents' operations as herein set forth the 

price of rye futures on the Chicago Board of Trade advanced approximately 52 

cents per bushel between December 1942 and December 1943. From December 1943 to 

May 1944 the price was maintained by the respondents at a level ranging 

approximately from $ 1.25 to $ 1.35 per bushel. Beginning with December 1, 

1942, when respondent corporation made its initial purchases of May and July 

1943 rye futures contracts, the lowest, highest, and final prices established on 

the Chicago Board of Trade for the leading rye futures were as follows: 

Price in Cents per Bushel 

Rye Future Lowest Highest Final Date 

May 1943 70 5/8 December 1, 1942 

" " 89 1/4 March 8, 1943 
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Price in Cents per Bushel 

Rye Future Lowest Highest Final Date 

" " 86 7/8 @) May 21, 1943 

87 1/8) 

 July 1943 73 December 1, 1942 

" " 116 1/2 July 8, 1943 

" " 105 @) July 24, 1943 

105 3/8) Sept. 1943 75 5/8 December l6, 1942 

" " 114 July 8, 1943 

" " 105 @) September 22, 1943 

105 1/4) 

Dec. 1943 86 1/8 February 8, 1943 

" " 126 1/2 December l6, 1943 

" " 126 1/2 December 21, 1943 

" " 123 3/4 @) December 22, 1943 

124) May 1944 100 1/8 August 16, 1943 

" " 134 7/8 January 7, 1944 

" " 112 1/2 @) May 22, 1944 

112 3/4) 

 

(u) Respondents by their trading in and holding of actual rye and rye futures 

in Chicago as herein set forth, all of which were speculative, caused the 

abnormal accumulation of rye in Chicago, which congested the transportation and 

storage facilities at a time when these facilities were needed for other grain 

crops for which there was important demand. The total storage capacity of all 

public elevators in Chicago is, and was during the above period, approximately 

27,000,000 bushels, whereas the total amount of rye which was stored in them on 

May 27, 1944, was 13.576,000 bushels, representing approximately 50 percent of 

the public storage facilities available for all grains and an amount in excess 

of 40 percent of the 1943 domestic rye crop. 

(v) The respondents in divers other manners, including the manner of 

executing orders and trades, contributed to the violations alleged in paragraphs 

4, 5, and 6 above. 

Therefore, each of the said respondents is hereby notified to be and appear 

at a hearing to be held at 10:00 o'clock a.m. Eastern War Time on the 2d day of 

July, 1945, in Room 2862, South Building, Department of Agriculture, Washington, 

D. C., before a referee to be designated by the War Food Administrator, to 

conduct such hearing, and then and there show cause, if any there be, why an 

order should not be made directing that, until further notice of the War Food 

Administrator, all contract markets refuse all trading privileges to each of 

such respondents, and further, suspending or revoking any registration of the 

respondents as futures commission merchants or floor brokers as the case may be. 

The respondents will have 20 days after the receipt of this notice of hearing 

in which to file with the War Food Administrator an answer in 

 

triplicate, fully and completely stating the nature of the defense and admitting 

or denying specifically in detail each material and relevant allegation of this 

complaint. Any allegations that are not answered will be deemed admitted for 

the purpose of this proceeding. 

It is ordered that this complaint and notice of hearing be served on each of 

the named respondents by delivery of a true copy hereof to each of them by an 
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employee of the Department of Agriculture or by registered mail at least twenty 

days prior to the date herein set for hearing. 

Done at Washington, D. C. this 

26th day of May, 1945. 

/s/ Ashley Sellers 

Assistant War Food Administrator 

SCHEDULE A 

MAY 1944 RYE FUTURES, CHICAGO BOARD OF TRADE AND WINNIPEG GRAIN EXCHANGE 

PURCHASED AND STANDING OPEN ON DATES SHOWN FOR ACCOUNT OF PARTIES LISTED BELOW 

AND THE AMOUNT OF SUCH CONTRACTS COMPLETED BY DELIVERIES - IN THOUSANDS OF 

BUSHELS (OOO OMITTED) ALSO HOLDINGS OF ACTUAL RYE ON DATES SHOWN - AND 

COMPARATIVE DATA>100> >101> 

Chicago May Rye Futures 

Long 

l943 1944 1944 

For Account Of December 24 February 11 April 29 

Daniel F. Rice 1,140 1,205 590

Rice-Ryan, Joint Account 25 105 165

Lawrence J. Ryan 815 1,350 945

Philip R. O'Brien 110 1,955 1,480

Sub-total 2,090 4,595 3,180

(Hallet & Carey) * 

 

Customers of Dan.F.Rice & Co. Jack Ablin 650 495 345

Mrs. Dorothy Badham 15 

Leo Beyda Dorothy Causey William Causey 15 30 

Henry Crown 200 250 250

Clare Devaney 50 45 

E. M. Dobkin 465 230 150

A. J. Henderson 15 5 E. E. Hunt 85 100 50

B. F. Lindheimer 200 220 220

Marjorie Lindheimer ) 30 105 105

Patricia Lindheimer ) 40 115 115

Vera Lindheimer ) 35 110 110

Walter Lindheimer ) 40 115 115

Walpataar Trading Acct. ) 400 450 450

Mrs. Helen Miller 195 125 Max Miller 535 565 430

A. N. Pritsker 50 50 50

A. L. (Mrs.) Rice 150 45

Louis Schwarta 160 130 Frank Werner 195 175 70

Leo Wlnaberg 45 25 10

Sub-total 3,355 3,355 2,515

Total 6,645 7,950 5,695 

General Foods Corporation Grand Totals 5,645 7,950 5,695

Comparative Data 

Amount Actual Rye Delivered During May 

Total Open Contracts May 

Rye Futures 21,715 21,077 12,404

Total Deliverable Rye In Chicago 
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Chicago May Rye Futures 

 Long 

 l943 1944 1944 

For Account Of December 24 February 11 April 29 

Percentages Held By Above Parties 26.0 37.7 45.9

Chicago May Rye Futures Memo. 

Bushels Sold

Deliveries To G.F.Corp.

Tendered 1944 

For Account Of Received Re-del'y Initial May 13-15 

Daniel F. Rice 75 5 355,000

Rice-Ryan, Joint Account 80 344,466

Lawrence J. Ryan 560 495,000

Philip R. O'Brien 735 95 665,000

Sub-total 1,450 95 5 1,859,466

(Hallet & Carey) * 60 * 

 Customers of Dan.F.Rice & Co. 

Jack Ablin 345 100 Mrs. Dorothy Badham Leo Beyda 

Dorothy Causey 

William Causey Henry Crown 250 Clare Devaney 

E. M. Dobkin 150 30 A. J. Henderson 

E. E. Hunt 50 15,000

B. F. Lindheimer 220 Marjorie Lindheimer ) 105 

Patricia Lindheimer ) 115 Vera Lindheimer ) 110 Walter Lindheimer ) 115 

Walpataar Trading Acct. ) 450 Mrs. Helen Miller 80 55,000

Max Miller 430 25,000

A. N. Pritsker 50 

A. L. (Mrs.) Rice Louis Schwarta Frank Werner 70 35 55,000

Leo Wlnaberg 10 10,000

Sub-total 2,470 135 110 140,000

Total 5,980 230 115 1,999,466

-250 - General Foods Corporation 

Grand Totals 3,750 115 1,999,466

Comparative Data Amount Actual Rye Delivered 

During May 4,100 

Total Open Contracts May Rye Futures Total Deliverable Rye In Chicago 

Percentages Held By Above Parties 91.5 Bushels Deliverable Rye 

Held in Store Chicago 

1943 1944 1944 

For Account Of December 31 April 29 May 27 

Daniel F. Rice 305,000 358,400 132,971

Rice-Ryan, Joint Account 294,984 289,336 12,817

Lawrence J. Ryan 140,000 105,000 100,000

Philip R. O'Brien 35,000

Sub-total 739,984 752,736 280,788

(Hallet & Carey) * 

Customers of Dan.F.Rice & Co. 
Page 9 

Chicago May Rye Futures 

 Long 

 l943 1944 1944 

For Account Of December 24 February 11 April 29 

Jack Ablin 20,000 20,000 265,000

Mrs. Dorothy Badham Leo Beyda Dorothy Causey William Causey 

Henry Crown 20,000 5,000 255,000

Clare Devaney E. M. Dobkin 60,000 60,000 180,000

A. J. Henderson E. E. Hunt 35,000

B. F. Lindheimer 220,000

Marjorie Lindheimer ) 105,000

Patricia Lindheimer ) 115,000

Vera Lindheimer ) 110,000

Walter Lindheimer ) 115,000

Walpataar Trading Acct. ) 450,000

Mrs. Helen Miller 135,000 135,000 Max Miller 405,000

A. N. Pritsker 50,000

A. L. (Mrs.) Rice Louis Schwarta 

Frank Werner Leo Wlnaberg 

Sub-total 255,000 220,000 2,305,000

Total 974,984 972,756 2,585,788 

General Foods Corporation 7,230,019 7,230,019 9,219,528

Grand Totals 8,205,003 8,202,755 11,805,116

Comparative Data 

Amount Actual Rye Delivered During May 

Total Open Contracts May Rye Futures Total Deliverable Rye In Chicago 9,487.525 12,390.660 13,263,606

Percentages Held By Above Parties 86.4 66.2 89.0

Winnipeg May Rye Futures 

Long Deliveries 

1944 

For Account Of April 29 Received Tendered 

Daniel F. Rice 1,010 1,010 Rice-Ryan, Joint Account 200 200 Lawrence J. Ryan 145 120 20

Philip R. O'Brien 

Sub-total 1,355 1,330 20

(Hallet & Carey) * 

Customers of Dan.F.Rice & Co. Jack Ablin 45 45 55

Mrs. Dorothy Badham 

Leo Beyda 30 30 Dorothy Causey 15 15 William Causey 35 35 

Henry Crown 50 50 

Clare Devaney 25 25 E. M. Dobkin 120 120 

A. J. Henderson 20 20 

E. E. Hunt 40 40 B. F. Lindheimer 25 25 

Marjorie Lindheimer ) 25 25 

Patricia Lindheimer ) 25 25 Vera Lindheimer ) 25 25 

Walter Lindheimer ) 25 25 
Page 10 

 Chicago May Rye Futures 

 Long 

 l943 1944 1944 

For Account Of December 24 February 11 April 29 

Walpataar Trading Acct. ) Mrs. Helen Miller 50 50 Max Miller 35 35 

A. N. Pritsker A. L. (Mrs.) Rice 

Louis Schwarta 80 80 

Frank Werner Leo Wlnaberg 50 50 

Sub-total 720 72 35

Total 2,075 2,050 55

 - 55 -

General Foods Corporation 

Grand Totals 2,075 1,995 Comparative Data Amount Actual Rye Delivered During May 

Total Open Contracts May Rye Futures Total Deliverable Rye In Chicago Percentages Held By Above Parties 

*This 800,000 bushels of rye was received on delivery by Ballet & Carey - a 

customer of Daniel F. Rice & Company - and was purchased "in store" by Daniel F. 

Rice, who than applied this rye on. his sale to General Foods Corporation. 

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