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Commodity Futures Trading Commission 

CEA CASES 

NAME: MURRAY H. NELSON 

DOCKET NUMBER: STIPULATION 47 

DATE: DECEMBER 22, 1959 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Murray H. Nelson 

Stipulation of Compliance under the Commodity Exchange Act No. 47 

The Secretary of Agriculture has reason to believe that Murray H. Nelson 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 

Murray H. Nelson 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 Murray H. Nelson stipulates that the following facts are 

true: 

1. Murray H. Nelson is an individual whose address is 26 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 5, 1958, Michael J. Corrigan, a floor trader on the New York 

Produce Exchange, entered the trading ring and advised 

Murray H. Nelson and other floor traders that a customer had a position in 

cottonseed oil futures that he wished to liquidate and then reinstate. 

3. Murray H. Nelson participated in the liquidation and reinstatement of the 

position by buying from Corrigan 5 contracts of May cottonseed oil at 1312 and 

selling to Corrigan 5 contracts of May cottonseed oil at 1313. The trades made 

by Murray H. Nelson were for the Metropolitan Vegetable Oil Co., Inc. Special 

Trading Account. 

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

Produce Exchange, entered the trading ring and advised Murray H. Nelson and 

other floor traders that a customer had a position in cottonseed oil futures 

that he wished to liquidate and then reinstate. 

5. Murray H. Nelson participated in the liquidation and reinstatement of the 

position by means of so-called "switch" trades as set forth in the table below. 

Nelson Bought Nelson Sold 

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

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

3 May cottonseed oil @ 1280 3 March cottonseed oil @ 1277 

3 March cottonseed oil @ 1277 3 May cottonseed oil @ 1281 
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The above trades were made for the personal account of Murray H. Nelson or 

for the Metropolitan Vegetable Oil Co., Inc. Special Trading Account, an account 

in which he shares. 

The Commodity Exchange Authority has advised Murray H. Nelson 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. 

Murray H. Nelson agrees to desist from such practices in the future and to 

comply fully with the requirements of the Commodity Exchange Act and the 

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 Murray H. Nelson under provisions of the act. 

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

/s/ Murray H. Nelson 

Murray H. Nelson 

Witnessed by: 

/s/ Roy Tipton 

/s/ Hugh A. Collins 

LOAD-DATE: June 16, 2008 
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