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Commodity Futures Trading Commission 

CEA CASES 

NAME: JOHN G. BYERS, JR. 

DOCKET NUMBER: STIPULATION 59 

DATE: JULY 2, 1962 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: John G. Byers, Jr. 

Stipulation of Compliance under the Commodity Exchange Act No. 59 

The Secretary of Agriculture has reason to believe that John G. Byers, Jr., 

has violated the provisions of the Commodity Exchange Act (17 CFR, Chapter 1) 

and the regulations of the Secretary of Agriculture promulgated thereunder. 

No complaint with respect to such violations has been issued and the said 

John G. Byers, Jr., is desirous of disposing of the matter by entering into a 

stipulation of compliance, as authorized by section 0.4(a) of the Rules of 

Practice under the Commodity Exchange Act (17 CFR, 0.0-0.28). Therefore, the 

said John G. Byers, Jr., stipulates the following facts are true: 

1. John G. Byers, Jr., an individual whose address is 141 West Jackson 

Boulevard, Chicago 4, Illinois, is now and was at all times mentioned herein a 

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

Board of Trade of the City of Chicago. 

2. The acts and practices herein described were entered into by John G. 

Byers, Jr., on the Board of Trade of the City of Chicago, a duly designated 

contract market under the Commodity Exchange Act. 

3. On May 21, 1962, John G. Byers, Jr., received an order from his principal, 

a registered futures commission merchant under the Commodity Exchange Act, to 

buy 75,000 bushels of the 1962 July wheat future and to 

sell 75,000 bushels of the 1962 May wheat future at the same price. 

4. John G. Byers, Jr., executed the above order by simultaneously buying 

75,000 bushels of the July future from and selling 75,000 bushels of the May 

future to the same broker at the same price. By agreement between John G. 

Byers, Jr., and the other broker, the price was set at $ 2.15 1/2 per bushel. 

5. John G. Byers, Jr., entered on his trading card the sale of the May wheat 

future at $ 2.15 1/2 but did not identify by appropriate mark or symbol that the 

sale was executed as part of a spread transaction. He did not enter the 

purchase of the July wheat future on his own trading card, but instead 

instructed J. Benedict Thomas to enter the purchase of the July wheat future on 

his (Thomas') trading card. 

The Secretary of Agriculture has advised John G. Byers, Jr., that the failure 

to keep full and complete records of futures transactions was in violation of 

section 4g of the act and section 1.35 of the regulations thereunder and the 

failure to identify the true nature of the spread transaction was in violation 

of section 1.38(b) of the regulations. 

The said John G. Byers, Jr., agrees to desist from such acts and practices in 

the future. He further understands and agrees that this stipulation shall be 
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admissible as evidence of such acts and practices in any future proceeding based 

upon acts or practices in addition to those referred to herein which may be 

brought by the Secretary of Agriculture against him under the provisions of the 

said act. He also understands that it is the practice of the Commodity Exchange 

Authority to make 

stipulations of compliance a matter of public record. 

Done at Chicago, Illinois, this 2nd day of July 1962. 

/s/ John G. Byers, Jr. 

John G. Byers, Jr. 

Witnessed by: 

/s/ Roger E. Harper 

/s/ Samuel F. Gordon 

LOAD-DATE: June 16, 2008 
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