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Commodity Futures Trading Commission 

CEA CASES 

NAME: GEORGE A. ELBERT 

DOCKET NUMBER: STIPULATION 46 

DATE: DECEMBER 22, 1959 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: George A. Elbert 

Stipulation of Compliance under the Commodity Exchange Act No 46 

The Secretary of Agriculture has reason to believe that George A. Elbert has 

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

the rules and regulations of the Secretary of Agriculture promulgated thereunder 

by virtue of certain transactions in cottonseed oil futures as set forth below. 

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

George A. Elbert 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 George A. Elbert stipulates that the following facts are 

true: 

1. George A. Elbert is an individual whose address is 11 Broadway, New York 

4, New York. He is a member of the New York Produce Exchange and a registered 

floor broker under the Commodity Exchange Act. 

2. On December 11, 1958, Michael J. Corrigan, a floor trader on the New York 

Produce Exchange, entered the trading ring and advised 

George A. Elbert that he had nine May contracts to buy and to sell and he would 

give Elbert one point on each; he further stated that he wished to execute them 

as "switch" trades. 

3. George A. Elbert participated in the execution of the "switch" trades as 

set forth in the table below. 

Elbert Bought Elbert Sold 

5 May cottonseed oil @ 1281 5 July cottonseed oil @ 1270 

5 July cottonseed oil @ 1270 5 May cottonseed oil @ 1282 

4 May cottonseed oil @ 1280 4 March cottonseed oil @ 1277 

4 March cottonseed oil @ 1277 4 May cottonseed oil @ 1281 

The trades made by George A. Elbert were for the I. Usiskin & Co. Joint 

Account. George A. Elbert trades for this account at his own discretion and 

shares in the financial results. 

The Commodity Exchange Authority has advised George A. Elbert that in its 

opinion the transactions above described are in violation of the Commodity 

Exchange Act and the regulations thereunder, particularly those provisions 

relating to "accommodation trades" and the requirement that all trading be done 

openly and competitively. 

George A. Elbert agrees to desist from such practices in the future and to 

comply fully with the requirements of the Commodity Exchange Act and the 
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regulations of the Secretary of Agriculture thereunder; and specifically to 

refrain from entering into accommodation trades or executing orders otherwise 

than by open and competitive means. He further 

understands and agrees that this stipulation shall be admissible of acts and 

practices in violation of the Commodity Exchange Act in any proceeding based 

upon transactions in addition to those referred to herein which may hereafter be 

brought by the Secretary of Agriculture against the said George A. Elbert under 

the provisions of the act. 

Done at New York, New York, this 22nd day of December 1959. 

/s/ George A. Elbert 

George A. Elbert 

Witnessed by: 

/s/ Roy Tipton 

/s/ Hugh A. Collins 

LOAD-DATE: June 16, 2008 
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