Page 1 

Commodity Futures Trading Commission 

CEA CASES 

NAME: RAWLIN L. STOVALL AND STOVALL AND STOVALL, INC. 

DOCKET NUMBER: 206; 75-7 

DATE: JANUARY 18, 1973 

DOCUMENT TYPE: COMPLAINT 

NOTE: LATER BECAME CFTC DOCKET # 75-7 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Rawlin L. Stovall and Stovall and Stovall, Inc., Respondents 

CEA Docket No. 206 

Complaint and Notice of Hearing Under the Commodity Exchange Act 

There is reason to believe that respondent Rawlin L. Stovall has violated the 

Commodity Exchange Act, as amended, (7 U.S.C. 1 et seq.) hereinafter referred to 

as the Act and that Stovall and Stovall, Inc. is unfit to engage in the business 

of futures commission merchant. This complaint and notice of hearing is issued 

under the provisions of sections 6(b) and (c) and 8a(3) of the Act (7 U.S.C. 9, 

13b and 12a(3)), stating the charges as follows: 

I 

a. Rawlin L. Stovall, hereinafter referred to as Stovall, an individual whose 

business address is Room 2014, 141 West Jackson Boulevard, Chicago, Illinois 

60604, is now and was at all times material herein a registered floor broker 

under the Act, a member of the Chicago Board of Trade and a member of the 

Chicago Open Board of Trade (now known as the MidAmerica Commodity Exchange.) 

Stovall is now and was at all times herein the 

president and principal stockholder of Stovall and Stovall, Inc. At all times 

material herein, Stovall was doing business under the name R. L. Stovall, Sole 

Proprietor, Principal in Cash Commodities. 

b. Stovall and Stovall, Inc., an Illinois corporation with its principal 

office and place of business at Room 2014, 141 West Jackson Boulevard, Chicago, 

Illinois 60604, is now and was at all times material herein a registered futures 

commission merchant under the Act. 

II 

The Chicago Board of Trade and the Chicago Open Board of Trade (now known as 

the MidAmerica Commodity Exchange) are now and were at all times material herein 

boards of trade and duly designated contract markets under the Act. 

III 

The transactions referred to herein, if executed, could have been used for 

hedging transactions in interstate commerce in such commodities or the products 

or byproducts thereof, or for determining the price basis of transactions in 

interstate commerce in such commodities or for delivering such commodities sold, 

shipped or received in interstate commerce for the fulfillment thereof. 

IV 
Page 2 

During the period from about May 3, 1972, to about December 6, 1972, 

respondent Stovall engaged in a course of business in which he solicited and 

accepted orders which he represented to be for contracts for the purchase and 

sale of cash commodities. Such orders were actually for contracts for the 

purchase and sale of commodities for future delivery. In connection with such 

orders, Stovall demanded and received cash deposits to margin, guarantee or 

secure such transactions. At no time during such period, was Stovall or R. L. 

Stovall, Sole Proprietor, Principal in Cash Commodities, registered as a futures 

commission merchant under the Act. 

V 

From time to time during the period alleged in paragraph IV, Stovall 

delivered and caused to be transmitted through the mails documents which 

purported to confirm the execution of the orders described in paragraph IV. 

Transactions so reported to customers as having been executed for such 

customers' accounts included, but were not limited to, those set forth in Annex 

A which is attached to and is a part of this complaint. Documents so used 

included, but were not limited to, that shown in Annex B which is attached to 

and is a part of this complaint. 

VI 

The transactions confirmed to customers as described in paragraph V were not 

executed but rather were bucketed, Stovall himself taking the opposite side of 

each customer's order with no intention of bona fide execution. 

VII 

On December 20, 1972, Stovall failed and refused and continues to fail and 

refuse to make his records concerning the course of business described in 

paragraph IV and the reported transactions described in paragraphs V and VI 

available for inspection by representatives of the United States Department of 

Agriculture. 

VIII 

By reason of the facts alleged herein: 

a. Respondent Stovall willfully violated sections 4, 4b(D), 4c(A), and 4d(1) 

of the Act (7 U.S.C. 6, 6b(D), 6c(A), 6d(1)) and sections 1.35(a) and 1.38(a) of 

the regulations of the Secretary of Agriculture thereunder (17 CFR 1.35(a), 

1.38(a)). 

b. Respondent Stovall and Stovall, Inc. is unfit to engage in the business of 

futures commission merchant as contemplated by section 8a(3) of the Act (7 

U.S.C. 12a(3)). 

WHEREFORE, it is hereby ordered that this complaint and notice of hearing be 

served upon the respondents and this proceeding 

shall be governed by sections 0.1, 0.2, 0.4(b), 0.5 through 0.22 and 0.28 of the 

rules of practice under the Commodity Exchange Act (17 CFR 0.1, 0.2, 0.4(b), 0.5 

through 0.22, 0.28). The respondents will have twenty (20) days after the 

receipt of this complaint in which to file with the Hearing Clerk, United States 

Department of Agriculture, Washington, D. C. 20250, an answer with an original 

and five copies, fully and completely stating the nature of the defense and 

admitting or denying, specifically and in detail, each allegation of this 

complaint. Allegations not answered will be deemed admitted for the purposes of 

this proceeding. Failure to file an answer will constitute an admission of all 

the allegations of this complaint and a waiver of hearing. The filing of an 

answer in which all of the material allegations of fact contained in the 

complaint are admitted likewise shall constitute a waiver of hearing unless a 

hearing is requested. The respondents are hereby notified that unless hearing 

is waived, a hearing will be held in Chicago, Illinois, at a place therein and 
Page 3 

date to be specified later, before a referee designated to conduct such hearing. 

At such hearing, the respondents will have the right to appear and show cause, 

if any there be, why an appropriate order should not be issued in accordance 

with the Commodity Exchange Act, (1) suspending or revoking the registration of 

respondent Rawlin L. Stovall as a floor broker, (2) suspending or revoking the 

registration of respondent Stovall and Stovall, Inc. as a futures commission 

merchant, (3) prohibiting respondent Stovall from trading on or subject to the 

rules of any contract market, and directing that all contract markets refuse all 

trading privileges to respondent Stovall for such period of time as may be 

determined and (4) directing that respondent Stovall shall cease and desist from 

violating the Act in the manner alleged herein. 

It is ordered that this complaint and notice of hearing be served on the 

respondents at least twenty (20) days prior to the date set for hearing. 

Done at Washington, D. C. 

January 18, 1973 

[SEE SIGNATURE IN ORIGINAL] 

Richard E. Lyng 

Assistant Secretary 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 

Vernon L. Henrichs 5/4 36,000 7/1/72-8/6/72 

5/5 36,000 " " 

5/12 120,000 7/1/72-7/12/72 

5/15 120,000 " " 

5/17 15,000 7/1/72-7/12/72 

5/18 15,000 7/1/72-7/5/72 

5/23 15,000 7/1/72-8/5/72 

5/23 15,000 " " 

5/24 15,000 7/1/72-8/5/72 

5/25 15,000 " " 6/1 36,000 7/1/72-8/5/72 

6/1 36,000 " " 6/6 80,000 8/1/72-9/5/72 

6/7 80,000 " " 

 6/14 20,000 7/1/72-8/5/72 

6/14 20,000 " " 6/20 90,000 10/1/72-10/12/72

6/21 90,000 " " 

 

6/27 10,000 7/1/72-7/12/72 

6/27 10,000 " " 
Page 4 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of Customer Date commodity delivery Price 

1972 

Vernon L. Henrichs 5/4 # 3 Frozen pork bellies Chicago, Ill. 40.80 

5/5 " " " " " " 41.80 

5/12 # 3 Soybean oil Decatur, Ill. 11.61 

5/15 " " " " " 11.55 

 

5/17 # 3 Soybeans Chicago, Ill. 3.61 1/2 

5/18 " " " " 3.58 1/2 5/23 # 3 Soybeans Chicago, Ill. 3.53 3/4 

5/23 " " " " 3.51 3/4 

5/24 # 3 Soybeans Chicago, Ill. 3.50 

5/25 " " " " " " 3.53 

 6/1 # 3 Frozen pork bellies Chicago, Ill. 34.00 

6/1 " " " " " " 34.25 6/6 # 3 Live cattle Omaha, Nebr. 36.50 

6/7 " " " " " 36.90 

 

6/14 # 3 Soybeans Chicago, Ill. 3.48 

6/14 " " " " 3.49 

 6/20 # 1 Hogs Chicago, Ill. 26.75 

6/21 " " " " 26.25 6/27 # 1 Soybeans Chicago, Ill. 3.41 

6/27 " " " " 3.40 3/8 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Vernon L. Henrichs 7/7 72,000 2/1/73-3/5/73 

7/7 72,000 " " 

 7/13 10,000 11/1/72-12/5/72 

7/13 10,000 " " 

 7/24 40,000 8/1/72-9/5/72 

7/25 40,000 " " 

 7/27 36,000 8/1/72-8/12/72 

7/27 36,000 " " 

 
Page 5 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

8/3 60,000 10/1/72-10/12/72

8/3 60,000 " " 

 8/9 72,000 8/1/72-8/12/72 

8/10 72,000 " " 

 8/17 5,000 11/1/72-12/5/72 

8/18 5,000 " " 

 8/28 10,000 11/1/72-12/5/72 

8/28 10,000 " " 9/21 30,000 12/1/72-1/5/73 

9/22 30,000 " " 

 9/29 5,000 12/1/72-1/5/73 

9/29 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 

Vernon L. Henrichs 7/7 # 3 Frozen pork bellies Chicago, Ill. 42.30 

7/7 " " " " " " 42.50 7/13 # 3 Soybeans Chicago, Ill. 3.22 3/4 

7/13 " " " " 3.23 3/4 7/24 # 3 Live cattle Omaha, Nebr. 36.52 1/2 

7/25 " " " " " 36.67 1/2 7/27 # 1 Frozen pork bellies Chicago, Ill. 38.57 1/2 

7/27 " " " " " " 38.37 1/2 

8/3 # 1 Live hogs Peoria, Ill. 26.67 1/2 

8/3 " " " " " 26.87 1/2 

8/9 # 1 Frozen pork bellies Chicago, Ill. 36.35 

8/10 " " " " " " 36.65 8/17 # 3 Soybeans Chicago, Ill. 3.30 

8/18 " " " " 3.29 1/8 8/28 # 3 Soybeans Chicago, Ill. 3.37 

8/28 " " " " 3.38 7/8 9/21 # 3 Live hogs Omaha, Nebr. 30.00 

9/22 " " Omaha, Nebr. 29.75 

9/29 # 3 Wheat Chicago, Ill. 2.16 3/4 

9/29 " " " " 2.16 
Page 6 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Vernon L. Henrichs 10/2 5,000 12/1/72-1/5/73 

10/3 5,000 " " 

 10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 

 10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 

 10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

 11/16 10,000 1/1/73-2/5/73 

11/17 10,000 " " 

 11/22 20,000 1/1/73-2/5/73 

11/23 20,000 " " 

 12/7 10,000 3/1/73-4/5/73 

12/7 10,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 

Vernon L. Henrichs 10/2 # 3 Wheat Chicago, Ill. 2.16 

10/3 " " " " 2.16 7/8 10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 
Page 7 

 Grade and/or Place of 

Customer Date commodity delivery Price 

10/31 " " " " 2.21 1/4 

 

11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Douglas Newkirk 5/4 36,000 7/1/72-8/6/72 

5/5 36,000 " " 

5/12 60,000 7/1/72-7/12/72 

5/15 60,000 " " 

 

5/17 5,000 7/1/72-7/12/72 

5/18 5,000 " " 

5/23 5,000 7/1/72-8/5/72 

5/23 5,000 " " 

5/24 10,000 7/1/72-8/5/72 

5/25 10,000 " " 

 

6/1 36,000 7/1/72-8/5/72 

6/1 36,000 " " 

6/6 40,000 8/1/72-9/5/72 

6/7 40,000 " " 

6/14 10,000 7/1/72-8/5/72 

6/14 10,000 " " 

 6/20 60,000 10/1/72-10/12/72

6/21 60,000 " " 

 6/27 5,000 7/1/72-7/12/72 

6/27 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 
Page 8 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Douglas Newkirk 5/4 # 3 Frozen pork bellies Chicago, Ill. 40.80

5/5 " " " " " 41.80 5/12 # 3 Soybean oil Decatur, Ill. 11.61

5/15 " " " " " 11.55 

5/17 # 1 Soybeans Chicago, Ill. 3.61 1/2

5/18 " " " " 3.58 1/2 

5/23 # 1 Soybeans Chicago, Ill. 3.53 3/4

5/23 " " " " 3.51 3/4 

5/24 # 1 Soybeans Chicago, Ill. 3.50

5/25 " " " " 3.53 

6/1 # 3 Frozen pork bellies Chicago, Ill. 34.00

6/1 " " " " " " 34.25 6/6 # 3 Live cattle Omaha, Nebr. 36.50

6/7 " " " " " 36.90 6/14 # 3 Soybeans Chicago, Ill. 3.48

6/14 " " " " 3.49 

6/20 # 1 Hogs Chicago, Ill. 26.75

6/21 " " " " 26.25 

6/27 # 1 Soybeans Chicago, Ill. 3.41

6/27 " " " " 3.40 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Douglas Newkirk 7/7 36,000 2/1/73-3/5/73 

 7/7 36,000 " " 

 7/13 5,000 11/1/72-12/5/72 

 7/13 5,000 " " 

 8/3 30,000 10/1/72-10/12/72

8/3 30,000 " " 

 8/9 36,000 8/1/72-8/12/72 

 8/1 36,000 " " 

 8/17 5,000 11/1/72-12/5/72 

 8/18 5,000 " " 

 8/28 5,000 11/1/72-12/5/72 

 8/28 5,000 " " 

 9/21 30,000 12/1/72-1/5/73 

 9/22 30,000 " " 

 
Page 9 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

9/29 5,000 12/1/72-1/5/73 

 9/29 5,000 " " 

 10/2 5,000 12/1/72-1/5/73 

10/3 5,000 " " 

 10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 

 10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Douglas Newkirk 7/7 # 3 Frozen pork bellies Chicago, Ill. 42.30

7/7 " " " " " " 42.50 

7/13 # 3 Soybeans Chicago, Ill. 3.22 3/4

7/13 " " " " 3.23 3/4 

8/3 # 1 Live hogs Peoria, Ill. 26.67 1/2

8/3 " " " " 26.87 1/2 8/9 # 1 Frozen pork bellies Chicago, Ill. 36.35

8/1 " " " " 36.65 

8/17 # 3 Soybeans Chicago, Ill. 3.30

8/18 " " " " 3.29 1/8 8/28 # 3 Soybeans Chicago, Ill. 3.37

8/28 " " " " 3.38 7/8 

9/21 # 3 Live hogs Omaha, Nebr. 30.00

9/22 " " " " " 29.75 

9/29 # 3 Wheat Chicago, Ill. 2.16 3/4

9/29 " " " " 2.16 

10/2 # 3 Wheat Chicago, Ill. 2.16

10/3 " " " " 2.16 7/8 10/9 # 3 Corn Chicago, Ill. 1.35

10/9 " " " " 1.35 3/4 

10/19 # 3 Wheat Chicago, Ill. 2.20

10/20 " " " " 2.18 
Page 10 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Douglas Newkirk 10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 

 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 

 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 11/17 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

 11/22 10,000 1/1/73-2/5/73 

11/23 10,000 " " 12/7 5,000 3/1/73-4/5/73 

12/7 5,000 " " 7/17 20,000 3/1/73-4/5/73 

12/13 20,000 " " 

 7/20 20,000 5/1/73-6/5/73 

12/13 20,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Douglas Newkirk 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

11/17 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

 7/17 # 3 Soybeans Chicago, Ill. 3.30 1/2 

12/13 " " " " 4.35 3/8 
Page 11 

Grade and/or Place of 

Customer Date commodity delivery Price 

 7/20 # 3 Soybeans Chicago, Ill. 3.29 3/4 

12/13 " " " " 4.34 1/8 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Robert D. Morrison and Douglas Newkirk 7/28 5,000 11/1/72-12/5/72 

 7/28 5,000 " " 

 8/3 30,000 10/1/72-10/12/72 

 8/3 30,000 " " 8/9 36,000 8/1/72-8/12/72 

 8/10 36,000 " " 

 8/17 5,000 11/1/72-12/5/72 

 8/18 5,000 " " 8/28 5,000 11/1/72-12/5/72 

 8/28 5,000 " " 9/21 30,000 12/1/72-1/5/73 

 9/22 30,000 " " 

 9/29 5,000 12/1/72-1/5/73 

 9/29 5,000 " " 

 10/2 5,000 12/1/72-1/5/73 

10/3 5,000 " " 10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 

Robert D. Morrison and Douglas Newkirk 7/28 # 3 Soybeans Chicago, Ill. 3.17 1/2 

 7/28 " " " " 3.19 

 8/3 # 1 Live hogs Feoria, Ill. 26.67 1/2 
Page 12 

Grade and/or Place of 

Customer Date commodity delivery Price 

 8/3 " " " " " 26.87 1/2 

 8/9 # 1 Frozen pork bellies Chicago, Ill. 36.35 

 8/10 " " " " " " 36.65 

 8/17 # 3 Soybeans Chicago, Ill. 3.30 

 8/18 " " " " 3.29 1/8 8/28 # 3 Soybeans Chicago, Ill. 3.37 

 8/28 " " " " 3.38 7/8 

 9/21 # 3 Live hogs Omaha, Nebr. 30.00 

 9/22 " " " " " 29.75 

 9/29 # 3 Wheat Chicago, Ill. 2.16 3/4 

 9/29 " " " " 2.16 

 

10/2 # 3 Wheat Chicago, Ill. 2.16 

10/3 " " " " 2.16 7/8 

10/9 # 3 Wheat Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Robert D. Morrison and 10/24 5,000 11/1/72-12/5/72

 Douglas Newkirk 10/24 5,000 " " 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 11/22 10,000 1/1/73-2/5/73 

11/23 10,000 " " 

 12/7 1,000 3/1/73-4/5/73 

12/7 1,000 " " 

 12/7 4,000 3/1/73-4/5/73 

12/7 4,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 
Page 13 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 

Robert D. Morrison and 10/24 # 3 Soybeans Chicago, Ill. 3.41 

 Douglas Newkirk 10/24 " " " " 3.43 1/8 

10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 

11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Verne Purdy 8/25 5,000 12/1/72-1/5/73 

 8/25 5,000 " " 8/31 5,000 11/1/72-12/5/72

8/31 5,000 " " 9/8 5,000 12/1/72-1/5/73 

 9/8 5,000 " " 9/18 20,000 12/1/72-1/5/73 

 9/18 20,000 " " 

 9/29 5,000 12/1/72-1/5/73 

 9/29 5,000 " " 

 10/2 5,000 12/1/72-1/5/73 

10/3 5,000 " " 

 10/9 10,000 12/1/72-1/5/73 

10/9 10,000 " " 

 10/19 10,000 12/1/72-1/5/73 

10/20 10,000 " " 10/24 10,000 11/1/72-12/5/72

10/24 10,000 " " 
Page 14 

 Quantity n1 Shipment 

Customer Date Bought Sold date 10/30 10,000 3/1/73-4/5/73 

10/31 10,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of Customer Date commodity delivery Price 

1972 Verne Purdy 8/25 # 3 Corn Chicago, Ill. 1.30 3/4 

 8/25 " " " " 1.32 7/8 

 

 8/31 # 3 Soybeans Chicago, Ill. 3.36 1/8 

 8/31 " " " " 3.37 3/8 

 9/8 # 3 Corn Chicago, Ill. 1.36 3/4 

 9/8 " " " " 1.37 3/4 

 

 9/18 # 3 Wheat Chicago, Ill. 2.25 

 9/18 " " " " 2.26 

 

 9/29 # 3 Wheat Chicago, Ill. 2.16 3/4 

 9/29 " " " " 2.16 

 10/2 # 3 Wheat Chicago, Ill. 2.16 

10/3 " " " " 2.16 7/8 

 10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

 10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Verne Purdy 11/8 10,000 1/1/73-2/5/73

11/9 10,000 " " 11/16 10,000 1/1/73-2/5/73
Page 15 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

11/17 10,000 " " 11/22 20,000 1/1/73-2/5/73

11/23 20,000 " " 12/7 10,000 3/1/73-4/5/73

12/7 10,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Verne Purdy 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Robert L. and Dorothy Putnam 8/31 5,000 11/1/72-12/5/72

8/31 5,000 " " 

 9/8 5,000 12/1/72-1/5/73 

 9/8 5,000 " " 

 9/18 5,000 12/1/72-1/5/73 

 9/18 5,000 " " 

 9/26 36,000 2/1/73-3/5/73 

 9/27 36,000 " " 

 10/2 5,000 12/1/72-1/5/73 

10/3 5,000 " " 10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 
Page 16 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of Customer Date commodity delivery Price 

1972 Robert L. and Dorothy Putnam 8/31 # 3 Soybeans Chicago, Ill. 3.36 1/8 

 8/31 " " " " 3.37 3/8 

 9/8 # 3 Corn Chicago, Ill. 1.36 3/4 

 9/8 " " " " 1.37 3/4 9/18 # 3 Wheat Chicago, Ill. 2.25 

 9/18 " " " " 2.26 9/26 # 3 Frozen pork bellies Chicago, Ill. 45.00 

 9/27 " " " " " " 44.90 

 10/2 # 3 Wheat Chicago, Ill. 2.16 

10/3 " " " " 2.16 7/8 

 10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 

 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 

 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 

ANNEX A 
Page 17 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Robert L. and Dorothy 11/16 5,000 1/1/73-2/5/73

 Putnam 11/17 5,000 " " 

 11/22 10,000 1/1/73-2/5/73

11/23 10,000 " " 

 12/7 5,000 3/1/73-4/5/73

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 

Robert L. and Dorothy 11/16 # 3 Soybeans Chicago, Ill. 3.70 

 Putnam 11/17 " " " " 3.72 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Donald and Donna 

 Wernette 9/18 5,000 12/1/72-1/5/73 

 9/18 5,000 " " 

 9/26 36,000 2/1/73-3/5/73 

 9/27 36,000 " " 

10/6 5,000 11/1/72-12/5/72

10/6 5,000 " " 

10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 

10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 10/24 5,000 11/1/72-12/5/72
Page 18 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

10/24 5,000 " " 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

 11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Donald and Donna Wernette 9/18 # 3 Wheat Chicago, Ill. 2.25 

9/18 " " " " 2.26 

9/26 # 3 Frozen pork bellies Chicago, Ill. 45.00 

9/27 " " " " " " 44.90 

10/6 # 3 Soybeans Chicago, Ill. 3.38 1/2 

10/6 " " " " 3.39 5/8 

10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 

10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 
Page 19 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 

Donald and Donna 

 Wernette 11/22 10,000 1/1/73-2/5/73

11/23 10,000 " " 12/7 5,000 3/1/73-4/5/73

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Donald and Donna 

 Wernette 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Eugene Solgat and Angeline Solgat 9/18 5,000 12/1/72-1/5/73 

 9/18 5,000 " " 

 9/26 36,000 2/1/73-3/5/73 

 9/27 36,000 " " 10/6 5,000 11/1/72-12/5/72

10/6 5,000 " " 

10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 

10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 

10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 

10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 
Page 20 

Quantity n1 Shipment 

Customer Date Bought Sold date 

11/9 5,000 " " 11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Eugene Solgat and Angeline Solgat 9/18 # 3 Wheat Chicago, Ill. 2.25 

9/18 " " " " 2.26 

9/26 # 3 Frozen pork bellies Chicago, Ill. 45.00 

9/27 " " " " " " 44.90 10/6 # 3 Soybeans Chicago, Ill. 3.38 1/2 

10/6 " " " " 3.39 5/8 

10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 

10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Eugene Solgat and Angeline Solgat 11/22 10,000 1/1/73-2/5/73

11/23 10,000 " " 12/7 1,000 3/1/73-4/5/73
Page 21 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

12/7 1,000 " " 12/7 4,000 3/1/73-4/5/73

12/7 4,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Eugene Solgat and 

 Angeline Solgat 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Thomas M. Marx 9/18 5,000 12/1/72-1/5/73 

 9/18 5,000 " " 9/26 36,000 2/1/73-3/5/73 

 9/27 36,000 " " 10/6 5,000 11/1/72-12/5/72

10/6 5,000 " " 

 10/9 10,000 12/1/72-1/5/73 

10/9 10,000 " " 

 10/19 10,000 12/1/72-1/5/73 

10/20 10,000 " " 

 10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 

 10/30 10,000 3/1/73-4/5/73 

10/31 10,000 " " 11/8 10,000 1/1/73-2/5/73 

11/9 10,000 " " 
Page 22 

 Quantity n1 Shipment 

Customer Date Bought Sold date 11/16 10,000 1/1/73-2/5/73 

11/17 10,000 " " 11/22 20,000 1/1/73-2/5/73 

11/23 20,000 " " 12/7 10,000 3/1/73-4/5/73 

12/7 10,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of Customer Date commodity delivery Price 

1972 

Thomas M. Marx 9/18 # 3 Wheat Chicago, Ill. 2.25 

9/18 " " " " 2.26 

 

9/26 # 3 Frozen pork bellies Chicago, Ill. 45.00 

9/27 " " " " " " 44.90 

 

10/6 # 3 Soybeans Chicago, Ill. 3.38 1/2 

10/6 " " " " 3.39 5/8 

 10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

 10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 

 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 
Page 23 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Douglas McBurney and 

 Dona McBurney 9/18 5,000 12/1/72-1/5/73 

 9/18 5,000 " " 9/26 36,000 2/1/73-3/5/73 

 9/27 36,000 " " 10/6 5,000 11/1/72-12/5/72

10/6 5,000 " " 10/9 5,000 12/1/72-1/5/73 

10/9 5,000 " " 10/19 5,000 12/1/72-1/5/73 

10/20 5,000 " " 

10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 

10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 

11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

11/22 10,000 1/1/73-2/5/73 

11/23 10,000 " " 

12/7 5,000 3/1/73-4/5/73 

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of Customer Date commodity delivery Price 

1972 

Douglas McBurney and Dona McBurney 9/18 # 3 Wheat Chicago, Ill. 2.25 

 9/18 " " " " 2.26 

 9/26 # 3 Frozen pork bellies Chicago, Ill. 45.00 

 9/27 " " " " " " 44.90 

 10/6 # 3 Soybeans Chicago, Ill. 3.38 1/2 

10/6 " " " " 3.39 5/8 
Page 24 

Grade and/or Place of 

Customer Date commodity delivery Price 

10/9 # 3 Corn Chicago, Ill. 1.35 

10/9 " " " " 1.35 3/4 

 10/19 # 3 Wheat Chicago, Ill. 2.20 

10/20 " " " " 2.18 

 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 

Richard D. and/or Linda J. Williams (Linda 10/9 5,000 12/1/72-1/5/73 

 Williams and/or Jodi 10/9 5,000 " " 

 Williams) 10/19 5,000 11/1/72-12/5/72 

10/20 5,000 " " 

10/24 5,000 11/1/72-12/5/72 

10/24 5,000 " " 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 

11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

11/22 10,000 1/1/73-2/5/73 

11/23 10,000 " " 12/7 5,000 3/1/73-4/5/73 

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 
Page 25 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Richard D. and/or Linda 

 J. Williams (Linda 10/9 # 3 Corn Chicago, Ill. 1.35 

 Williams and/or Jodi 10/9 " " " " 1.35 

 Williams) 

 10/19 # 3 Soybeans Chicago, Ill. 3.38 

10/20 " " " " 3.36 

 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 

 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Warner E. Lane 10/19 5,000 11/1/72-12/5/72

10/20 5,000 " " 

 10/24 5,000 11/1/72-12/5/72

10/24 5,000 " " 

 10/30 5,000 3/1/73-4/5/73 

10/31 5,000 " " 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

 

11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

 11/22 10,000 1/1/73-2/5/73 
Page 26 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

11/23 10,000 " " 12/7 5,000 3/1/73-4/5/73 

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Warner E. Lane 10/19 # 3 Soybeans Chicago, Ill. 3.38 

10/20 " " " " 3.36 

 10/24 # 3 Soybeans Chicago, Ill. 3.41 

10/24 " " " " 3.43 1/8 

 10/30 # 3 Wheat Chicago, Ill. 2.23 3/4 

10/31 " " " " 2.21 1/4 

 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 

John S. Lane and William 

 R. Sarchet 10/30 5,000 3/1/73-4/5/73

10/31 5,000 " " 

11/8 5,000 1/1/73-2/5/73

11/9 5,000 " " 

11/16 5,000 1/1/73-2/5/73

11/17 5,000 " " 11/22 10,000 1/1/73-2/5/73
Page 27 

 Quantity n1 Shipment 

Customer Date Bought Sold date 

11/23 10,000 " " 12/7 5,000 3/1/73-4/5/73

12/7 5,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 John S. Lane 

 and William 

 R. Sarchet 10/30 # 3 Wheat Chicago, Ill. 2.23 3/[ILLEGIBLE TEXT] 

10/31 " " " " 2.21 1/[ILLEGIBLE TEXT] 

 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

 

11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

 

11/22 # 3 Soybeans Chicago, Ill. 3.72 1/[ILLEGIBLE TEXT] 

11/23 " " " " 3.72 1/[ILLEGIBLE TEXT] 

 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/[ILLEGIBLE TEXT] 

 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Edward W. Henrichs, Jr. 11/8 5,000 1/1/73-2/5/73 

11/9 5,000 " " 

11/16 5,000 1/1/73-2/5/73 

11/17 5,000 " " 

11/22 10,000 1/1/73-2/5/73 

11/23 10,000 " " 

12/7 1,000 3/1/73-4/5/73 

12/7 1,000 " " 

12/7 4,000 3/1/73-4/5/73 

12/7 4,000 " " 

n1 Frozen pork bellies in pounds. 
Page 28 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 

Customer Date commodity delivery Price 

1972 Edward W. Henrichs, Jr. 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 

11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 

11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 

12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

ANNEX A 

Transactions reported to customers by R. L. Stovall, doing business under the 

name R. L. Stovall, Principal in Cash Commodities>100> >101> 

Quantity n1 Shipment 

Customer Date Bought Sold date 

1972 Lorna A. Henrichs 11/8 5,000 1/1/73-2/5/73

11/9 5,000 " " 11/16 5,000 1/1/73-2/5/73

11/17 5,000 " " 

 11/22 10,000 1/1/73-2/5/73

11/23 10,000 " " 

 12/7 1,000 3/1/73-4/5/73

12/7 1,000 " " 

 12/7 4,000 3/1/73-4/5/73

12/7 4,000 " " 

n1 Frozen pork bellies in pounds. 

Soybean oil in pounds. 

Soybeans in bushels. 

Live cattle in pounds. 

Live hogs in pounds. 

Wheat in bushels. 

Corn in bushels. 

Grade and/or Place of 
Page 29 

Customer Date commodity delivery Price 

1972 Lorna A. Henrichs 11/8 # 3 Soybeans Chicago, Ill. 3.54 

11/9 " " " " 3.56 11/16 # 3 Soybeans Chicago, Ill. 3.70 

11/17 " " " " 3.72 11/22 # 3 Soybeans Chicago, Ill. 3.72 1/2 

11/23 " " " " 3.72 1/8 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 12/7 # 3 Soybeans Chicago, Ill. 4.05 

12/7 " " " " 4.06 3/8 

MUNICIPAL IN CASH COMMODITIES 

141 WEST JACKSON BOULEVARD 

CHICAGO, ILLINOIS 60604 

MR. DOUGLAS NEWKIRK 

1095 NORTHHOOD DR. 

[ILLEGIBLE TEXT] 48723 

NEW0015 0600-X>100> >101> 

DATE QUANTITY QUANTITY SHIPMENT 

 BOUGHT SOLD DATES 

 

[ILLEGIBLE TEXT]/09/72 5,000 BU. 12/01/72 TO 

 01/05/73 

[ILLEGIBLE TEXT]/09/72 5,000 BU. 12/01/72 TO 

GRADE AND/OR 

COMMODITIES 

BEGINNING BALANCE 

# 3 GRADE 

CORN 

# 3 GRADE 

01/05/73 CORN 

5,000 * 5,000 * P + S AMOUNT 

TOTAL P+S 

HANDLING FEE'S 

ENDING BALANCE 

 OPEN POSITION 

07/17/72 20,000 BU. 03/01/73 TO # 3 GRADE 

04/05/73 SOYBEANS 

07/20/72 20,000 BU. 05/01/73 TO # 1 GRADE 

05/12/73 SOYBEANS 

08/16/72 40,000 OZ. 10/01/73 TO # 1 GRADE 

10/12/73 SILVER 

08/17/72 40,000 OZ. 12/01/73 TO # 1 GRADE 

01/05/74 SILVER 

DATE PLACE OF TRADE BALANCE ON DELIVERY PRICE [ILLEGIBLE 

TEXT]DE 

DR. 

[ILLEGIBLE TEXT]/09/12 CHICAGO, IL 1.3 * [ILLEGIBLE TEXT]/09/72 CHICAGO, IL 1.35 3/4 

 20.00 

[ILLEGIBLE TEXT] 

 OPEN POSITION 

07/17/72 CHICAGO, IL 3.30 1/2 
Page 30 

DATE QUANTITY QUANTITY SHIPMENT GRADE AND/OR 

 BOUGHT SOLD DATES COMMODITIES 

07/20/72 CHICAGO, IL 3.29 3/4 08/16/72 CHICAGO, IL 193.80 

08/17/72 CHICAGO, IL 199.90 

THE ABOVE PURCHASES AND/OR SALES ARE SUBJECT TO THE TERMS OF PURCHASES AND/OR 

SALES 

AGREEMENT OF CASH COMMODITY CONTRACTS FOR DEFERRED DELIVERY AS SIGNED BY 

CLIENT. 

ANY ERRORS MUST BE IMMEDIATELY REPORTED BY TELEGRAPH OR TELEPHONE, 

OTHERWISE THIS ACCOUNT WILL BE CONSIDERED APPROVED BY YOU. 

LOAD-DATE: June 16, 2008 
Page 31