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Commodity Futures Trading Commission 

CEA CASES 

NAME: AUSTER-SIEGEL TRADING COMPANY AND JOSEPH SIEGEL 

DOCKET NUMBER: STIPULATION 13 

DATE: JANUARY 26, 1952 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES OF AMERICA 

BEFORE THE SECRETARY OF AGRICULTURE 

In re Auster-Siegel Trading Company and Joseph Siegel 110 North Franklin Street 

Chicago S, Illinois 

Stipulation of Compliance under the Commodity Exchange Act No. 13 

WHEREAS, the Secretary of Agriculture has reason to believe that AusterSiegel Trading Company and Joseph Siegel have violated section 4b(D) of the 

Commodity Exchange Act, and 

WHEREAS, no complaint has been filed with respect to such violations and the 

above-named corporation and individual desire to enter into a stipulation 

pursuant to the provisions of section 0.4(a) of the rules of practice under the 

Commodity Exchange Act. 

NOW, THEREFORE, the said Auster-Siegel Trading Company and Joseph Siegel 

admit the following facts are true: 

(1) Auster-Siegel Trading Company is a corporation organized under the laws 

of the State of Illinois, is registered as a futures commission merchant under 

the provisions of the Commodity Exchange Act, and enjoys membership privileges 

on the Chicago Mercantile Exchange. Joseph Siegel, an individual, is secretary 

of Auster-Siegel Trading Company, is also a member of the Chicago Mercantile 

Exchange, and is registered as a floor broker under the provisions of the 

Commodity Exchange Act. 

(2) On December 3, 1951, Joseph Siegel acting for, and on behalf of, AusterSiegel Trading Company sold on the Chicago Mercantile Exchange one contract of 

January eggs at 44.60 cents for the account of a customer of Francis I. duPont & 

Co. In the execution of this sale Joseph Siegel arranged for H. I. Henner, also 

a floor broker on the Chicago Mercantile Exchange, to execute the purchase side 

of this transaction. Pursuant to Siegel's instructions Henner gave up the 

purchase side of this transaction to Auster-Siegel Trading Company where the 

purchase was entered in the house account of Auster-Siegel Trading Company. 

(3) As a result of the method of handling the transaction described in (2) 

above Auster-Siegel Trading Company, through its agent, Joseph Siegel, willfully 

and knowingly and without the prior consent of Francis I. duPont & Co. or its 

customer became the purchaser of a selling order of the said customer of Francis 

I. duPont & Co. 

In addition to admitting the foregoing facts, Joseph Siegel states that his 

sale purpose in executing the transaction by arrangement with Henner in the 

manner described in (2) above was to effect the sale for the customer, Francis 

I. duPont & Co. Joseph Siegel states further that the best bid on the board of 

the Chicago Mercantile Exchange at the time of this transaction was 44.55 cents 

and that he executed the transaction 
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in the manner described only after having attempted to accept this bid and after 

there had been a ruling by the exchange representatives that he could not accept 

such bid because the closing bell had sounded and the price of 44.55 cents was 

not within the closing range. 

In addition to admitting the foregoing facts and making the foregoing 

statements Auster-Siegel Trading Company and Joseph Siegel hereby agree to 

discontinue all acts and practices which are in violation of the Commodity 

Exchange Act and specifically agree that this stipulation shall be admissible as 

evidence of acts and practices in violation of the Commodity Exchange Act, as 

amended, in any proceeding brought against the said Auster-Siegel Trading 

Company or Joseph Siegel in connection with any subsequent violation of the said 

act and regulations. 

Done at Chicago, Illinois, 

this 26th day of January 1952. 

Auster-Siegel Trading Company 

By /s/ Michael Auster 1/30/52 

President 

/s/ Joseph E. Siegel 

Joseph Siegel 

1-26-52 & 1-30-52 

Witnessed by /s/ A. R. Grosstephan 

1/26/52 & 1-30-52 

/s/ Arthur W. Nayo 

LOAD-DATE: June 16, 2008 
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