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Commodity Futures Trading Commission 

CEA CASES 

NAME: J. W. MILLER 

DOCKET NUMBER: STIPULATION 21 

DATE: SEPTEMBER 8, 1955 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: J. W. Miller 

Stipulation of Compliance under the Commodity Exchange Act 

WHEREAS, the Secretary of Agriculture has reason to believe that J. W. Miller 

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

regulations thereunder (17 CFR, Chapter 1) by virtue of certain transactions 

involving the purchase and sale of soybean futures, and 

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

WHEREAS, section O.4(a) of the rules of practice under the Commodity Exchange 

Act (17 CFR 0.4(a)) provides that at 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 statute, and 

WHEREAS, the said J. W. Miller is desirous of disposing of this matter by 

entering into such a stipulation, 

NOW, THEREFORE, the said J. W. Miller hereby stipulates and represents that 

the following facts are true: 

1. J. W. Miller, an individual, whose address is 141 West Jackson Boulevard, 

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

duly designated contract market. 

2. Section 1.38 of the rules and regulations under the Commodity Exchange Act 

(17 CFR, 1954 Supp., 1.38) provides as follows: 

All purchases and sales of any commodity for future delivery on or subject to 

the rules of a contract market shall be executed openly and competitively as to 

price by open outcry or posting of bids and offers or by other equally open and 

competitive methods, in the trading pit or ring or similar place provided by the 

contract market, during the regular hours prescribed by the contract market for 

trading in such commodity: Provided, however, That this requirement shall not 

apply to such transactions as are executed in accordance with written rules of 

the contract market which have been submitted to and not disapproved by the 

Secretary of Agriculture, specifically providing for the noncompetitive 

execution of such transactions. 

3. Regulation 1832A of the Chicago Board of Trade prohibits trading in 

soybean futures during the last seven days of a delivery month. Pursuant to the 

said regulation, trading in July 1955 soybean futures terminated at the close of 

business on July 20, 1955. 
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4. On July 21, 1955, J. W. Miller, acting in his capacity as floor broker and 

pursuant to instructions received from the seller, entered on his trading card a 

sale of 95,000 bushels of July 1955 soybean futures. The said transaction was 

not within any of the exceptions specified in section 1.38 of the rules and 

regulations 

under the Commodity Exchange Act (17 CFR, 1954 Supp., 1.38), and was in 

violation of the said section and Act. 

In addition to admitting the fore going facts, the said J. W. Miller hereby 

agrees 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 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 

subsequent proceeding brought against the said J. W. Miller under the provisions 

of the said Act. 

Done at Chicago, Illinois 

this 8th day of Sept., 1955 

/s/ John W. Miller 

J. W. Miller 

Witnessed by: 

/s/ A. R. Grosstephan 

/s/ S. F. Gordon 

LOAD-DATE: June 16, 2008 
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