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Commodity Futures Trading Commission 

CEA CASES 

NAME: FELDSTEIN PRODUCE COMPANY, FULTON PRODUCTS CORPORATION, ALBERT FELDSTEIN, 

MEYER GETZ OR MICHAEL GETZ, ARANESS CORPORATION, BECKER BROKERAGE COMPANY, AND 

WOODSTOCK, INC. 

CITATION: 17 Agric. Dec. 598 

DOCKET NUMBER: 83 

DATE: JULY 2, 1958 

DOCUMENT TYPE: DECISION AND ORDER 

(No. 5537) 

In re FELDSTEIN PRODUCE COMPANY, FULTON PRODUCTS CORPORATION, ALBERT FELDSTEIN, 

MEYER GETZ OR MICHAEL GETZ, ARANESS CORPORATION, BECKER BROKERAGE COMPANY, AND 

WOODSTOCK, INC. CEA Docket No. 83. Decided July 2, 1958. 

Accounts and Records -- Stipulation -- Consent Order

Respondent Becker Brokerage Company filed a stipulation in which it admitted 

the jurisdiction of the Secretary, waived hearing, and consented to an order 

suspending its registration as a futures commission merchant and denying it 

trading privileges on all contract markets. However, the suspension and denial 

are held in abeyance and are not to become effective except under certain 

conditions. 

Mr. Benjamin M. Holstein, for Commodity Exchange Authority. Respondent pro se. 

Decision by Thomas J. Flavin, Judicial Officer

PRELIMINARY STATEMENT

This is a disciplinary proceeding under the Commodity Exchange Act (7 U.S.C. 

1952 ed., Chapter 1), instituted by a complaint and notice of hearing issued 

under section 6(b) of the act (7 U.S.C. 1952 ed., § 9) by the Assistant 

Secretary of Agriculture on May 9, 1958. 

Respondent Becker Brokerage Company is a corporation registered as a futures 

commission merchant under the act. It is one of seven respondents in this 

proceeding. The complaint alleges that, between April 30, 1957, and June 13, 

1957, 

the said respondent carried egg futures trades and positions in the name of one 

Meyer Getz (also a respondent herein), and that during the period from May 16 

through June 10, 1957, respondent Becker Brokerage Company reported or caused 

such trades and positions to be reported to the Commodity Exchange Authority as 

being owned or controlled by the aforesaid Meyer Getz, whereas, in truth and in 

fact and as respondent Becker Brokerage Company knew, the said trades and 

positions were owned and controlled by one Albert Feldstein (also a respondent). 

Based upon these allegations, the complaint charges that respondent Becker 

Brokerage Company knowingly failed to evidence the said trades and positions by 

a record in writing showing the true parties thereto, in wilful violation of 

section 4 of the act and section 1.37 of the regulations; and knowingly failed 

to keep books and records pertaining to such transactions in the form and manner 

required by the Secretary of Agriculture, and knowingly submitted false reports 

to the Commodity Exchange Authority, in wilful violation of section 4(g) of the 

act and related sections of the regulations. 
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No hearing has been held with respect to any of the respondents. On May 26, 

1958, respondent Becker Brokerage Company filed an answer explaining the 

circumstances under which the account in question was opened and carried on its 

books. On June 18, 1958, the said respondent submitted for filing in the 

record, under section 0.4(b) of the Rules of Practice (17 CFR 0.4(b)), a 

stipulation in which it admits certain jurisdictional facts, waives hearing, and 

consents to the entry of an order suspending the said respondent's registration 

as a futures commission merchant for a period of 60 days and directing all 

contract markets to refuse all trading privileges to it for a similar period, 

such suspension and refusal not to become effective unless, after complaint and 

hearing in accordance with established procedure, the said respondent should be 

found to have violated the act within one year from the date of entry of such an 

order, in which event the Secretary of Agriculture is authorized, without 

further notice to the said respondent, to issue a supplemental order making 

effective forthwith the aforesaid suspension of registration and refusal of 

trading privileges. 

FINDINGS OF FACT

1. Respondent Becker Brokerage Company, a corporation 

with offices and a place of business at 1008 W. Randolph Street, Chicago, 

Illinois, is now and has been at all times material herein a clearing member of 

the Chicago Mercantile Exchange and a registered futures commission merchant 

under the Commodity Exchange Act. 

2. During the period from April 30 through June 13, 1957, respondent Becker 

Brokerage Company, in its capacity as a registered futures commission merchant, 

carried egg futures trades and positions on the Chicago Mercantile Exchange, a 

duly designated contract market, and reported or caused such trades and 

positions to be reported to the Commodity Exchange Authority. 

CONCLUSIONS

Section 0.4 (b) of the Rules of Practice under the Commodity Exchange Act (17 

CFR 0.4(b)) provides as follows: 

(b) Consent order. At any time after the issuance of the complaint and prior 

to the hearing in any proceeding, the Secretary, in his discretion, may allow 

the respondent to consent to an order. In so consenting, the respondent must 

submit, for filing in the record, a stipulation or statement in which he admits 

at least those facts necessary to the Secretary's jurisdiction and agrees that 

an order may be entered against him. Upon a record composed of the complaint 

and the stipulation or agreement consenting to the order, the Secretary may 

enter the order consented to by the respondent, which shall have the same force 

and effect as an order made after oral hearings. 

The facts admitted by the said respondent and set forth in the Findings of 

Fact are sufficient to subject it to the jurisdiction of the Secretary of 

Agriculture. 

The complainant has filed a recommendaton which recites that it has carefully 

considered the stipulation, the terms of order to which the said respondent 

proposes to consent, and the answer theretofore filed by the said respondent. 

The complainant states that the answer recites certain actions by this 

respondent which appear to be of a sufficiently mitigating nature to warrant 

acceptance of the stipulation. It is the opinion of the complainant that the 

proposed sanction would be adequate and that the prompt entry of such an order 

without further proceedings would constitute a satisfactory disposition of this 

case as against the said respondent, serve the public interest, and effectuate 

the purposes of the Commodity Exchange Act. The complainant therefore 
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recommends that the stipulation and waiver be accepted and that the proposed 

order be issued. It is so concluded. 

ORDER

The registration of respondent Becker Brokerage Company as a futures 

commission merchant is hereby suspended for a period of 60 days, and all 

contract markets are hereby directed to refuse all trading privileges to the 

said Becker Brokerage Company for a period of 60 days, provided, however, that 

the aforesaid suspension of registration and refusal of trading privileges shall 

not become effective unless, after complaint and hearing in accordance with 

established procedure, respondent Becker Brokerage Company should be found to 

have violated the Commodity Exchange Act within one year from the date of entry 

of this order, in which event the Secretary of Agriculture may, without further 

notice to respondent Becker Brokerage Company, issue a supplemental order making 

effective forthwith the aforesaid suspension of registration and refusal of 

trading privileges. 

A copy of this decision and order shall be served upon the said respondent 

and upon each contract market. 

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