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Commodity Futures Trading Commission 

CEA CASES 

NAME: P. J. TAGGERES COMPANY, CHEF-REDDY FOODS, PETER J. TAGGARES, KENNETH L. 

RAMM, IDAHO POTATO PACKERS CORP., IDAHO POTATO PACKERS OF IDAHO, INC., ROBERT H. 

ABEND, HAROLD ABEND, SAN JACINTO PACKING CO., AGRI-EMPIRE, INC., JAMES MINOR, 

UNIVERSAL LAND-SNAKE RIVER, EDWARD SPIEGEL, MODIE J. SPIEGEL, J. R. SIMPLOT 

COMPANY, SIMPLOT EASTERN IDAHO PRODUCE, INC., J. R. SIMPLOT, WITH RESPECT TO 

UNIVERSAL LAND-SNAKE RIVER, EDWARD SPIEGEL, AND MODIE J. SPIEGEL 

CITATION: 32 Agric. Dec. 1257 

DOCKET NUMBER: 200 

DATE: JUNE 7, 1973 

DOCUMENT TYPE: DECISION AND ORDER 

(No. 15,280) 

In re P. J. TAGGERES COMPANY, a corporation, CHEF-REDDY FOODS, a corporation, 

PETER J. TAGGARES, an individual, KENNETH L. RAMM, an individual, IDAHO POTATO 

PACKERS CORP., a corporation, IDAHO POTATO PACKERS OF IDAHO, INC., a 

corporation, ROBERT H. ABEND, an individual, HAROLD ABEND, an individual, SAN 

JACINTO PACKING CO., a proprietorship, AGRI-EMPIRE, INC., a corporation, JAMES 

MINOR, an individual, UNIVERSAL LAND-SNAKE RIVER, a partnership, EDWARD SPIEGEL, 

an individual, MODIE J. SPIEGEL, an individual, J. R. SIMPLOT COMPANY, a 

corporation, SIMPLOT EASTERN IDAHO PRODUCE, INC., a corporation, J. R. SIMPLOT, 

an individual. CEA Docket No. 200. Decided June 7, 1973, with respect to 

Universal Land-Snake River, Edward Spiegel, and Modie J. Spiegel.

Futures prices -- Manipulation of -- Stipulation of respondents Universal 

Land-Snake River, Edward Spiegel, and Modie J. Spiegel - Denial of trading 

privileges to said three respondents for 180 days 

Gilbert A. Horn, Chicago, Illinois, and 

Harold J. Reuben, for complainant. 

Patrick W. O'Brien, Chicago, Illinois, for respondents. 

Decision by Donald A. Campbell, Judicial Officer.

DECISION AND ORDER

PRELIMINARY STATEMENT

This is an administrative proceeding under the Commodity Exchange Act (7 

U.S.C. § 1 et seq.), instituted by a complaint and 

notice of hearing. The complaint charges that the respondents attempted to 

manipulate the prices of potato futures on the Chicago Mercantile Exchange in 

violation of §§ 6(b), 6(c) and 9 of the Act (7 U.S.C. §§ 9, 13b and 13). 

No hearing had been held with respect to this proceeding. On January 10, 

1973, a Decision and Order with respect to J.R. Simplot Company, Simplot Eastern 

Idaho Produce, Inc., and J.R. Simplot was entered pursuant to the filing by them 

of a joint amended stipulation. On May 16, 1973, a Decision and Order with 

respect to Idaho Potato Packers Corp., Idaho Potato Packers of Idaho, Inc., 

Robert H. Abend and Harold Abend was entered pursuant to the filing by them of a 

joint stipulation. On May 31, 1973, a Decision and Order with respect to Chef-
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Reddy Foods, Peter J. Taggares and Kenneth L. Ramm was entered, pursuant to the 

filing by them of a joint stipulation. 

Respondents Universal Land-Snake River, Edward Spiegel and Modie J. Spiegel 

have at this time filed a stipulation under section 0.4(b) of the rules of 

practice (17 CFR 0.4(b)), in which (1) they admit the facts hereinafter set 

forth in findings of fact one through five, (2) they agree, for the purpose of 

avoiding a trial in this proceeding and for such purpose only, that the facts 

hereinafter set forth in findings of fact six through eight may be taken as 

true, (3) they state that nothing in this stipulation shall be deemed to 

constitute an admission that the Commodity Exchange Act or regulations 

thereunder have been violated by them, and (4) they waive hearing on the 

charges, and consent to the entry of the order contained herein. 

FINDINGS OF FACT

1. Respondent Universal Land-Snake River is a partnership organized under the 

laws of the State of Washington with its principal office and place of business 

at Pasco, Washington. The said partnership is now and was at all times material 

to this complaint engaging in the potato growing business. At all such times, 

respondent Edward Spiegel was a partner in the said partnership; speculatively 

traded in potato futures on the Chicago Mercantile Exchange in the name of the 

said partnership; and directed, controlled, and was responsible for the said 

partnership's transactions herein involved. 

2. Respondent Modie J. Spiegel, whose address is 175 East Delaware Place, 

Chicago, Illinois, was at all times material to this 

complaint engaged in speculative trading in potato futures on the Chicago 

Mercantile Exchange for his own account. 

3. The Chicago Mercantile Exchange is now and has been at all times material 

to this complaint a board of trade duly designated as a contract market under 

the Commodity Exchange Act. 

4. The futures transactions referred to in this complaint relate to the May 

1971, potato future on the Chicago Mercantile Exchange. Trading in such future 

commenced on May 11, 1970, and continued until its termination on May 10, 1971. 

A potato futures contract on the Exchange is a contract for 50,000 pounds of 

Idaho Russet Burbank potatoes. 

5. At all times material to this complaint, respondents Universal Land-Snake 

River, Edward Spiegel and Modie J. Spiegel, trading in the manner specified in 

paragraphs 1 and 2 hereof, purchased May 1971, potato futures contracts on the 

Chicago Mercantile Exchange and obtained, held and controlled a "long" position 

in such future. 

6. Respondent Edward Spiegel purchased in transactions on the Chicago 

Mercantile Exchange over a period of time beginning on or about January 8, 1971, 

and continuing until on or about April 30, 1971, numerous contracts of the May 

1971, Idaho potato future for the account of respondent Universal Land-Snake 

River, and established, maintained and kept open in increasing quantities over a 

period of time from on or about January 8, 1971, through the expiration of 

trading on May 10, 1971, a "long" position in such future which advanced to the 

maximum permissible speculative limit of 150 open contracts by on or about April 

30, 1971, and which remained at such level through the close of trading on May 

10, 1971. 

7. Respondent Modie J. Spiegel purchased in transactions on the Chicago 

Mercantile Exchange over a period of time beginning on or about April 21, 1971, 

and continuing until on or about May 4, 1971, numerous contracts of the May 

1971, Idaho potato future for his own account, and established, maintained and 

kept open in increasing quantities over a period of time from on or about April 

21, 1971, through the expiration of trading on May 10, 1971, a "long" position 

in such future which advanced to the maximum permissible speculative limit of 
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150 open contracts by on or about May 4, 1971, and which remained at such level 

through the close of trading on May 10, 1971. 

8. Respondents Universal Land-Snake River, Edward Spiegel and Modie J. 

Spiegel did not liquidate or offset their "long" positions in such future prior 

to the expiration of trading on May 10, 1971. 

CONCLUSIONS

Section 0.4(b) of the Rules of Practice under the Commodity Exchange Act (17 

CFR 0.4(b)) provides as follows: 

(b) Consent Order. At any time after the issuance of the complaint and prior 

to the hearing in any proceeding, the Secretary in his discretion, may allow the 

respondent to consent to an order. In so consenting, the respondent must 

submit, for filing in the record, a stipulation or statement in which he admits 

at least those facts necessary to the Secretary's jurisdiction and agrees that 

an order may be entered against him. Upon a record composed of the complaint 

and the stipulation or agreement consenting to the order, the Secretary may 

enter the order consented to by the respondent, which shall have the same force 

and effect as an order made after oral hearings. 

The facts admitted by respondents Universal Land-Snake River, Edward Spiegel 

and Modie J. Spiegel and set forth in the findings of fact are sufficient to 

subject them to the jurisdiction of the Secretary of Agriculture under the 

provisions of the above section. 

The complainant has filed a recommendation which recites that it has 

carefully considered the stipulation and the terms of the proposed order. It is 

the view of the complainant that the proposed sanctions would constitute a 

satisfactory disposition of this case as to respondents Universal Land-Snake 

River, Edward Spiegel and Modie J. Spiegel, serve the public interest, and 

effectuate the purposes of the Commodity Exchange Act. The complainant 

therefore recommends that the stipulation and waiver be accepted and that the 

proposed order be issued, terminating this proceeding as to respondents 

Universal Land-Snake River, Edward Spiegel and Modie J. Spiegel. It is so 

concluded. 

ORDER

Effective immediately, respondents Universal Land-Snake River, Edward Spiegel 

and Modie J. Spiegel shall henceforth 

cease and desist from manipulating or attempting to manipulate the market price 

of any commodity in interstate commerce, or for future delivery on or subject to 

the rules of any contract market. 

Effective immediately, (1) the said respondents are prohibited from trading 

on or subject to the rules of any contract market for a period of 180 days, and 

(2) all contract markets shall refuse all trading privileges to the said 

respondents during this period. Such prohibition and refusal shall apply to all 

trading done and in all positions held by the said respondents, or any of them, 

directly or indirectly. 

A copy of this decision and order shall be served upon each of the parties 

and upon each contract market. 

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