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Commodity Futures Trading Commission 

CEA CASES 

NAME: ARNOLD B. HOLLAND, WILLIAM B. BRODSKY, WILLIAM B. BRODSKY & COMPANY, INC., 

HOLLAND COMMODITIES CORPORATION AND HOLLAND OVSON COMPANY 

CITATION: 12 Agric. Dec. 1257 

DOCKET NUMBER: 59 

DATE: NOVEMBER 23, 1953 

DOCUMENT TYPE: DECISION AND ORDER 

AGRICULTURE DECISIONS

BEFORE THE SECRETARY OF AGRICULTURE

UNITED STATES DEPARTMENT OF AGRICULTURE

(No. 3692) 

In re ARNOLD B. HOLLAND, WILLIAM B. BRODSKY, WILLIAM B. BRODSKY & COMPANY, INC., 

HOLLAND COMMODITIES CORPORATION AND HOLLAND OVSON COMPANY. CEA Docket No. 59. 

Decided November 23, 1953. 

Suspension of Registration -- Denial of Trading Privileges

Upon respondent's admission of certain jurisdictional facts, waiver of oral 

hearing, consent to entry of the order herein, and stipulation, the 

regisistration of A. B. H. and that of W. B. B., as floor brokers under the act, 

are suspended, and their trading privileges are denied; and the registration of 

W. B. B. and Company, Inc., and that of H. O. Company, as futures commission 

merchants, are suspended and their trading privileges are denied, except that 

with respect to H. O. Company the suspension of registration and refusal of 

trading privileges are held in abeyance. 

Mr. Benjamin M. Holstein for Commodity Exchange Authority. Mr. Marshall M. 

Holleb, of Chicago, Illinois, for respondents. Mr. Jack W. Bain, Referee. 

Decision by Thomas J. Flavin, Judicial Officer

PRELIMINARY STATEMENT

This is a disciplinary proceeding under the Commodity Exchange Act (7 U.S.C., 

Chapter 1) instituted by a complaint issued under section 6(b) of the act (7 

U.S.C. 9) on July 20, 1953, by the Acting Secretary of Agriculture. In a letter 

addressed to the Office of the Solicitor and filed with the Hearing Clerk on 

August 6, 1953, respondent Holland Ovson Company set forth its version of the 

facts alleged in the complaint and denied any violation of the act. On August 

28, 1953, an answer denying the material allegations of the complaint was filed 

on behalf of respondents Arnold B. Holland and the Holland Commodities 

Corporation. On the same date, a similar answer was filed on behalf of 

respondents William B. Brodsky and William B. Brodsky & Company, Inc. 

On October 21, 1953, prior to the date set for hearing, respondents Arnold B. 

Holland, Holland Commodities Corporation, William B. Brodsky, and William B. 

Brodsky Company, Inc., filed 

an amended answer, admission of facts, waiver of hearing, consent to entry of 

order, and stipulation. This document admits the following jurisdictional 

facts, among others: That respondents Arnold B. Holland and William B. Brodsky 

are members of the Chicago Mercantile Exchange and registered floor brokers 
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under the Commodity Exchange Act, that they were the officers, managers, and 

sole owners of the Holland-Brodsky Company, a former Illinois corporation and 

former registered futures commission merchant under the act, that respondent 

William B. Brodsky & Company, Inc., and the Holland Commodities Corporation, 

successor to the Holland-Brodsky Company, are Illinois corporations and 

registered futures commission merchants under the act, and that the Chicago 

Mercantile Exchange is a duly designated contract market. This document also 

waives hearing, and consents to the entry of an order suspending registrations 

and denying trading privileges for a period of twenty (20 days) in the case of 

respondents Arnold B. Holland and the Holland Commodities Corporation, and 

imposing similar sanctions for a period of ten (10) days in the case of William 

B. Brodsky and William B. Brodsky & Company, Inc. 

The hearing opened in Chicago, Illinois, on October 27, 1953, for the purpose 

of taking testimony concerning the charges against the remaining respondent, 

Holland Ovson Company. Jack W. Bain, Office of Hearing Examiners, was assigned 

as referee and presided at the hearing. Marshall M. Holleb, of Chicago, 

Illinois, who had represented the other respondents, also represented the 

Holland Ovson Company. Benj. M. Holstein, Office of the Solicitor, appeared for 

the complainant. When the hearing opened, prior to the taking of testimony, 

respondent Holland Ovson Company announced that it was also filing an amended 

answer and waiver of hearing. The amended answer admits that the Holland 

Commodities Corporation, formerly the Holland-Brodsky Company, is an Illinois 

corporation and a registered futures commission merchant under the act, that 

respondent Holland Ovson Company is an Illinois corporation and a registered 

futures commission merchant under the act, and that respondent Arnold B. Holland 

is its vice president. The document waives hearing on the charges in the 

complaint and consents to the entry of an order suspending the registration of 

the Holland Ovson Company as a futures commission merchant and denying all 

trading privileges to it for a period of ten (10) days, such suspension and 

denial to be held in abeyance for a period of one year conditioned upon 

observance of the act and regulations during that time. 

CONCLUSIONS

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

CFR 0.4(b)) provides as follows: 

"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." 

In accordance with the above rule, it is concluded that the orders consented 

to by the respective respondents should be issued. 

ORDER

Effective on the thirtieth day after the date of this order, the registration 

of respondent Arnold B. Holland as a floor broker and the registration of the 

Holland Commodities Corporation as a futures commission merchant are suspended 

for a period of twenty (20) days. Effective on the same date, all contract 

markets shall refuse all trading privileges thereon to respondents Arnold B. 

Holland and the Holland Commodities Corporation, whether for personal, 

corporate, or customers' accounts, for a period of twenty (20) days. 

Effective on the thirtieth day after the date of this order the registration, 

of respondent William B. Brodsky as a floor broker and the registration of 

respondent William B. Brodsky & Company, Inc., as a futures commission merchant 

are suspended for a period of ten (10) days. Effective on the same date all 

contract markets shall refuse all trading privileges thereon to respondents 
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William B. Brodsky and William B. Brodsky & Company, Inc., whether for personal, 

corporate, or customers' accounts, for a period of ten (10) days. 

Effective on the thirtieth day after the date of this order, the registration 

of respondent Holland Ovson Company as a futures commission merchant under the 

Commodity Exchange Act is suspended for a period of ten (10) days, and effective 

on the same date all contract markets shall refuse all trading privileges to the 

said Holland Ovson Company, whether for corporate or for customers' accounts, 

for a period of ten (10) days, such suspension of registration and refusal of 

trading privileges not to become effective unless, within one year from the date 

of this order the said Holland Ovson Company should, after complaint and hearing 

in accordance with established procedure, be found to have again violated the 

act, then and in that event and without further notice a supplemental order in 

this proceeding may be issued against the said Holland Ovson Company, which 

supplemental order shall make effective forthwith the aforesaid suspension of 

registration and refusal of trading privileges. 

A copy of this decision and order shall be served on the respondents and on 

each contract market. 

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