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Commodity Futures Trading Commission 

CEA CASES 

NAME: MYLES J. KERRIGAN 

DOCKET NUMBER: 209 

DATE: MARCH 8, 1973 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Myles J. Kerrigan Respondent 

CEA Docket No. 209 

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 corn futures (17 CFR 

150.11), and this complaint and notice of hearing is issued alleging the 

following: 

I 

Myles J. Kerrigan, an individual whose address is Room 2300, 141 West Jackson 

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

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

The transactions tabulated below were made in corn futures on or subject to 

the rules of the Chicago Board of Trade and all such 

transactions were speculative and made for the account of respondent Myles J. 

Kerrigan. 

IV 

On December 1, 1972, Myles J. Kerrigan, violated the speculative daily 

trading limits in corn futures fixed by the Commodity Exchange Commission by 

buying a total of 3,155,000 bushels and selling a total of 3,315,000 bushels on 

the Chicago Board of Trade. His purchases and sales by future were as follows: 

Future Purchases Sales 

(in thousands of bushels) (in thousands of bushels) 

March 2,020 1,460

May 635 1,070

December 500 785

 Total 3,155 3,315

V 

By reason of the facts alleged in this complaint, respondent Myles J. 

Kerrigan violated section 4a of the Commodity Exchange Act (7 U.S.C. 6a) and 
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section 150.11 of the Orders of the Commodity Exchange Commission (17 CFR 

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 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) 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 

(2) directing that the respondent shall cease and desist from violating the Act 

and regulations in the manner alleged herein. 

Done at Washington, D.C. 

March 8. 1973. 

[SEE SIGNATURE IN ORIGINAL] 

CLAYTON YEUTTER 

Assistant Secretary 

LOAD-DATE: June 16, 2008 
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