Page 1 

Commodity Futures Trading Commission 

CEA CASES 

NAME: JOSEPH A. MCDONOUGH 

DOCKET NUMBER: STIPULATION 34 

DATE: APRIL 12, 1957 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Joseph A. McDonough 

Stipulation of Compliance under the Commodity Exchange Act No. 34 

WHEREAS, the Secretary of Agriculture has reason to believe that Joseph A. 

McDonough has violated the Commodity Exchange Act (7 U.S.C., Chapter 1) and the 

rules and regulations made pursuant to its requirements (17 CFR, Part 1), by 

virtue of the matters hereinafter described, and 

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

WHEREAS, section 0.4(a) of the rules of practice under the Commodity Exchange 

Act (17 CFR 0.4(a)) provides that any time prior to the issuance of a complaint 

in any proceeding, the Secretary of Agriculture may, in his discretion, enter 

into a stipulation with a prospective respondent whereby the latter admits the 

material facts and agrees to discontinue the acts or practices which are 

intended to be set up as violative of the act, and 

WHEREAS, the said Joseph A. McDonough is desirous of disposing of this matter 

by entering into such a stipulation, 

NOW, THEREFORE, said Joseph A. McDonough hereby stipulates and represents 

that the following facts are true: 

1. Joseph A. McDonough, an individual, whose address is 5509 Quincy Street, 

Chicago, Illinois, is now and was at the time mentioned herein a registered 

floor broker under the Commodity Exchange Act and a member of the Board of Trade 

of the City of Chicago, hereinafter called the Chicago Board of Trade, a duly 

designated contract market. 

2. On August 27, 1956, said Joseph A. McDonough pursuant to instructions 

received from Vincent W. Rooney, another floor broker on the Chicago Board of 

Trade, entered on his trading card the sale of 31 contracts of September 1956 

lard futures at prices of 10.50 and 10.55 cents per pound, thus purporting to 

show that the said Joseph A. McDonough was the selling broker on such 

transactions whereas in truth and in fact he had not made such sales. Such 

entries were contrary to the provisions of section 1.35 of the rules and 

regulations under the Commodity Exchange Act (17 CFR, 1954 Supp., 1.35). 

In addition to admitting the foregoing facts, the said Joseph A. McDonough 

hereby agrees to discontinue all such acts and practices and to refrain from all 

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

the rules and regulations thereunder, and further specifically agrees that this 

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

of 

the Commodity Exchange Act and the rules and regulations thereunder in any 

proceeding based upon transactions in addition to those referred to in paragraph 
Page 2 

2 hereof which may hereafter be brought by the Secretary of Agriculture against 

the said Joseph A. McDonough under the provisions of the said Act. 

Done at Chicago, Illinois, 

this 12th day of April 1957. 

/s/ Joseph A. McDonough 

Joseph A. McDonough 

Witnessed by: 

/s/ James J. Coughlin 

/s/ James Koutsky 

LOAD-DATE: June 16, 2008 
Page 3