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Commodity Futures Trading Commission 

CEA CASES 

NAME: JOHN P. SPELLMAN AND GEORGE R. SPELLMAN, PARTNERS, DOING BUSINESS AS C. J. 

WIGHTMAN AND COMPANY 

DOCKET NUMBER: STIPULATION 20 

DATE: AUGUST 12, 1954 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE BEFORE THE SECRETARY OF AGRICULTURE 

In re: John P. Spellman and George R. Spellman, partners, doing business as C. 

J. Wightman and Company 

Stipulation of Compliance under the Commodity Exchange Act 

WHEREAS, the Secretary of Agriculture has reason to believe that John P. 

Spellman and George R. Spellman, partners, doing business as C. J. Wightman and 

Company, have violated the Commodity Exchange Act (7 U.S.C, 1-17a) and the rules 

and regulations thereunder (17 CFR, Part 5) by virtue of holding open 

speculative long positions and speculative short positions in the same future of 

the same commodity on the same contract market for the same customer and 

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

WHEREAS, the said John P. Spellman and George R. Spellman 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 (17 CFR 0.4(a)), 

NOW, THEREFORE, the said John P. Spellman and George R. Spollman hereby 

stipulate and agree that the following facts are true: 

1. C. J. Wightman and Company is a partnership composed of John P. Spellman 

and George R. Spellman and has an office and place of business at 860 Board of 

Trade Building, Chicago, Illinois. 

2. At all times material to this stipulation, C. J. Wightman and Company was 

registered with the Commodity Exchange Authority as a futures commission 

merchant, and at all such times John P. Spellman and George R. Spellman were 

members of the Board of Trade of the City of Chicago (hereinafter called the 

Chicago Board of Trade) a duly designated contract market under the Commodity 

Exchange Act. 

3. On the dates specified and in the futures and amounts set forth below, the 

following speculative positions both long and short in the Chicago Board of 

Trade were carried by C. J. Wightman and Company for the account of a customer, 

viz., J. J. Coughlin of Chicago, Illinois. 

Date Future and Commodity Amount 

Dec. 29, 1952 Mar. Soybeans 5,000 bushels 

Dec. 30, 1952 July Cotton 100 bales 

Sept. 30, 1953 Jan. Soybeans 15,000 bushels 

Sept. 30, 1953 Nov. Soybeans 5,000 bushels 

Oct. 20, 1953 Jan. Soybeans 5,000 bushels 

Jan. 13, 1964 May Soybeans 20,000 bushels 

Jan. 14, 1954 May Soybeans 20,000 bushels 

Jan. 15, 1954 May Soybeans 20,000 bushels 

Jan. 18, 1964 May Soybeans 20,000 bushels 

Jan. 19, 1954 May Soybeans 10,000 bushels 

Jan. 20, 1964 May Soybeans 25,000 bushels 

Jan. 21, 1954 May Soybeans 10,000 bushels 
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See original document-page 2 

Date Future and Commodity Amount 

Jan. 22, 1954 May Soybeans 6,000 bushels 

Jan. 25, 1954 May Soybeans 5,000 bushels 

Jan. 27, 1964 May Soybeans 6,000 bushels 

Jan. 28, 1954 May Soybeans 6,000 bushels 

Jan. 28, 1954 May Soybeans 6,000 bushels 

Jan. 28, 1954 July Soybeans 6,000 bushels 

Jan. 29, 1954 May Soybeans 6,000 bushels 

Feb. 1, 1954 July Soybeans 10,000 bushels 

Feb. 2, 1954 July Soybeans 10,000 bushels 

Feb. 3, 1954 July Soybeans 16,000 bushels 

Apr. 19, 1954 July Cotton 100 bales 

Apr. 20, 1954 July Cotton 200 bales 

June 3, 1954 Jan. Soybeans 10,000 bushels 

June 4, 1964 Nov. Soybeans 20,000 bushels 

June 4, 1954 Mar. Soybeans 6,000 bushels 

June 7, 1954 Nov. Soybeans 10,000 bushels 

June 7, 1954 Mar. Soybeans 6,000 bushels 

June 8, 1954 Mar. Soybeans 10,000 bushels 

June 8, 1954 Jan. Soybeans 6,000 bushels 

June 8, 1954 Mar. Soybeans 5,000 bushels 

4. During the period specified and in the futures and amounts set forth 

below, the following speculative positions both long and short on the Chicago 

Board of Trade were carried by C. J. Wightman 

and Company for the account of a customer, vis., Steve Gelderman of Chicago, 

Illinois: 

Date Future Commodity Amount 

Jan. 19, 1954 

to 

Feb. 9, 1954 July Wheat 2,000 bushels

5. By letter dated December 16, 1953, the Commodity Exchange Authority called 

to the attention of C. J. Wightman and Company the deviations from section 1.46 

of the regulations under the Commodity Exchange Act which had occurred during 

September and October 1953 (described in paragraph 3 of this stipulation), and 

stated that the purpose of the letter was to give C. J. Wightman and Company an 

opportunity to bring itself into compliance and that failure to do so could load 

to the institution of formal proceedings which might result in an order by the 

Secretary of Agriculture directing all contract markets to deny trading 

privileges to the firm. No reply, written or oral, was received from the said 

C. J. Nightman and Company, and violations of section 1.46 of the regulations 

continued as set forth in paragraphs 3 and 4. 

In addition to admitting the foregoing facts the said John P. Spellman and 

the said George R. Spellman, individually and doing business as C. J. Wightman 

and Company, hereby agree to discontinue all such acts and practices and all 

other acts and practices which are in violation of the Commodity Exchange Act or 

the rules 

and regulations thereunder, and do further specifically agree that this 

stipulation shall be admissible as evidence of acts and practices in violation 

of the Commodity Exchange Act in any subsequent proceeding brought against the 

said John P. Spellman. George R. Spellman, or C. J. Wightman and Company under 

the provisions of the said act. 

Done at Chicago, Illinois 

this 12th day of Aug. 1954 
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/s/ C. J. Wightman & Co. 

By /s/ George R. Spellman 

/s/ George R. Spellman 

/s/ John P. Spellman 

Witnessed by: 

/s/ Albert W. Kibby 

/s/ James Koutsky 

LOAD-DATE: June 16, 2008 
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