Page 1 

Commodity Futures Trading Commission 

CEA CASES 

NAME: EUGENE C. CASHMAN 

DOCKET NUMBER: 212 

DATE: APRIL 24, 1973 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Eugene C. Cashman Respondent 

CEA Docket No. 212 

Complaint and Notice of Hearing Under the Commodity Exchange Act 

There is reason to believe that the respondent has violated section 4a of the 

Commodity Exchange Act (7 U.S.C. 6a) and the order of the Commodity Exchange 

Commission establishing limits on positions and trading in soybean and corn 

futures (17 CFR 150.4, 150.11), and this complaint and notice of hearing is 

issued alleging the following: 

I 

Eugene C. Cashman, an individual whose business address is 141 West Jackson 

Boulevard, Chicago, Illinois 60604 is now and was at all times material herein a 

registered floor broker under the Commodity Exchange Act and a member of the 

Chicago Board of Trade. 

II 

The Chicago Board of Trade is now and was at all times material herein, a 

duly designated contract market under the Commodity Exchange Act. 

III 

On February 27, 1973, the respondent violated the speculative daily trading 

limit of 3,000,000 bushels in soybean futures fixed by the 

Commodity Exchange Commission, by selling 3,105,000 bushels on or subject to the 

Chicago Board of Trade as follows: 

Future Sales in Bushels 

March 2,605,000

November 500,000

 Total 3,105,000

IV 

On February 28, 1973, the respondent violated the speculative daily trading 

limit of 3,000,000 bushels in soybean futures fixed by the Commodity Exchange 

Commission, by buying 4,565,000 bushels on or subject to the Chicago Board of 

Trade as follows: 

Future Purchases in Bushels

March 275,000

May 2,865,000

July 1,175,000

September 245,000

November 5,000

 Total 4,565,000
Page 2 

V 

On March 1, 1973, the respondent violated the speculative daily trading limit 

of 3,000,000 bushels in corn futures fixed by the Commodity 

Exchange Commission, by buying 3,605,000 bushels and selling 3,175,000 bushels 

on or subject to the Chicago Board of Trade as follows: 

Future Purchases Sales 

(In Bushels) 

March 2,950,000

May 2,910,000 

July 200,000 50,000

December 495,000 175,000

 Total 3,605,000 3,175,000

VI 

By reason of the facts alleged in this complaint, Eugene C. Cashman violated 

section 4a of the Commodity Exchange Act (7 U.S.C. 6a) and sections 150.4 and 

150.11 of the orders of the Commodity Exchange Commission (17 CFR 150.4, 

150.11). 

WHEREFORE, it is hereby ordered that this complaint and notice of hearing be 

served upon the respondent and this proceeding shall be governed by sections 

0.1, 0.2, 0.4(b), 0.5 through 0.22 and 0.28 of the rules of practice under the 

Commodity Exchange Act (17 CFR 0.1, 0.2, 0.4(b), 0.5 through 0.22, 0.28). The 

respondent will have twenty (20) days after the receipt of this complaint in 

which to file with the Hearing Clerk, United 

States Department of Agriculture, Washington, D.C. 20250, an answer with an 

original and three copies, fully and completely stating the nature of the 

defense and admitting or denying, specifically and in detail, each allegation of 

this complaint. Allegations not answered will be deemed admitted for the 

purpose of this proceeding. Failure to file an answer will constitute an 

admission of all the allegations of this complaint and a waiver of hearing. The 

filing of an answer in which all of the material allegations of fact contained 

in the complaint are admitted likewise shall constitute a waiver of hearing 

unless a hearing is requested. The respondent is hereby notified that unless 

hearing is waived, a hearing will be held in Chicago, Illinois, at a place 

therein and a date to be specified later, before a referee designated to conduct 

such hearing. At such hearing, the respondent will have the right to appear and 

show cause, if any there be, why an appropriate order should not be issued in 

accordance with the Commodity Exchange Act, (1) suspending or revoking the 

registration of the respondent as floor broker, (2) prohibiting the respondent 

from trading on or subject to the rules of any contract market, and directing 

that all contract markets refuse all trading privileges to the respondent for 

such period of time as may be determined and (3) directing that the respondent 

shall cease and desist from violating the Act and regulations in the manner 

alleged herein. 

Done at Washington, D.C. 

April 24, 1973. 

[SEE SIGNATURE IN ORIGINAL] 

Assistant Secretary 

LOAD-DATE: June 16, 2008 
Page 3