Page 1 

Commodity Futures Trading Commission 

CEA CASES 

NAME: THOMAS JORDAN & COMPANY THOMAS JORDAN EDMUND H. CRANE, AND FRANK W. VAN 

KIRK 

DOCKET NUMBER: 44 

DATE: FEBRUARY 12, 1948 

DOCUMENT TYPE: COMPLAINT 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Thomas Jordan & Company Thomas Jordan Edmund H. Crane, and Frank W. Van 

Kirk, Respondents 

CE-A Docket No. 44 

Complaint and notice of hearing under Section 6(b) of the Commodity Exchange 

Act 

The Secretary of Agriculture has reason to believe that the respondents. 

Thomas Jordan & Company, Thomas Jordan, Edmund H. Crane and Frank W. Van Kirk, 

have violated the provisions of the Commodity Exchange Act (7 U.S.C. 1-17a), and 

the rules and regulations promulgated thereunder. In accordance with the 

provisions of Section 6(b) of the said Act, this complaint is issued alleging as 

follows: 

1. 

Respondent Thomas Jordan & Company is a partnership doing business at 615 

Commercial Place, New Orleans, Louisiana. The said partnership was at all times 

material to this complaint and is now registered as a futures commission 

merchant under the provisions of the Commodity Exchange Act. The said 

partnership enjoys membership trading privileges on the New Orleans Cotton 

Exchange and the New York Cotton Exchange, and is a member of the New Orleans 

Cotton Exchange Clearing Associations. 

2. 

The New Orleans Cotton Exchange and the New York Cotton Exchange are duly 

designated contract markets under the provisions, of the Commodity Exchange Act. 

3. 

Thomas Jordan, an individual, is a member of the partnership of Thomas Jordan 

& Company and a member of the New Orleans Cotton Exchange and the New York 

Cotton Exchange. 

4. 

Edmund H. Crane, an individual, is a member of the partnership of Thomas 

Jordan & Company and a member of the New Orleans Cotton Exchange. 

5. 

Frank W. Van Kirk, an individual, is a member of the partnership of Thomas 

Jordan & Company and a member of the New Orleans Cotton Exchange. The said 

Frank W. Van Kirk was at all times material to this complaint and is now a 

registered floor broker under the provisions of the Commodity Exchange Act. 

6. 
Page 2 

On or about December 16, 1947, respondent Thomas Jordan caused the execution 

on the New Orleans Cotton Exchange of a purchase of 

17,200 bales of 1948 March cotton futures for his personal account, against a 

reciprocal sale on the said Exchange of 17,200 bales of 1948 March cotton 

futures for his personal account. 

7. 

On or about December 16, 1947, respondent Thomas Jordan caused the execution 

on the New Orleans Cotton Exchange of a purchase of 14,600 bales of 1948 May 

cotton futures for his personal account, against a reciprocal sale on the said 

Exchange of 14,600 bales of 1948 May cotton futures for his personal account. 

8. 

On or about December 16, 1947, respondent Edmund He Crane caused and directed 

the execution of a reciprocal purchase, and sale on the New Orleans Cotton 

Exchange of 17,200 bales of 1948 March cotton futures at 36.98 cents per pound, 

for the personal account of respondent Thomas Jordan carried on the books of 

respondent Thomas Jordan & Company. 

9. 

On or about December 16, 1947, respondent Edmund H. Crane caused and directed 

the execution of a reciprocal purchase and sale on the New Orleans Cotton 

Exchange of 14,600 bales of 1948 May cotton futures at 35.60 cents per pound, 

for the personal account of respondent Thomas Jordan carried on the books of 

respondent Thomas Jordan & Company. 

10. 

On or about December 16, 1947, respondent Frank W. Van Kirk received an order 

or orders from his firm, respondent Thomas Jordan & Company, to buy and sell 

17,200 bales of 1948 March cotton futures on the New Orleans Cotton Exchange at 

36.98 cents per pound. Respondent Frank W. Van Kirk, acting for the said Thomas 

Jordan & Company, executed such order or orders on the floor of the New Orleans 

Cotton Exchange by offsetting a purchase of 17,200 bales of 1948 March cotton 

futures at 35.98 cents per pound against a sale of 17,200 bales of 1948 March 

cotton futures at the same price. These transactions were for the personal 

account of respondent Thomas Jordan, carried on the books of Thomas Jordan & 

Company. 

11. 

On or about December 16, 1947, respondent Frank W. Van Kirk received an order 

or orders from his firm, respondent Thomas Jordan & Company, to buy and sell 

14,600 bales of 1946 May cotton futures on the New Orleans Cotton Exchange at 

36.60 cents per pound. Respondent Frank W. Van Kirk, acting for the said Thomas 

Jordan & Company, executed such order or orders on the floor of the New Orleans 

Cotton Exchange by offsetting a purchase of 14,600 bales of 1948 May cotton 

futures at 35.60 cents per pound against a sale of 14,600 bales of 1948 May 

cotton futures at the same price. These transactions were 

for the personal account of respondent Thomas Jordan, carried on the books of 

Thomas Jordan & Company. 

12. 

The transactions in cotton futures described in paragraphs 6, 7, 8, 9, 10 and 

11, above, were capable of being used for hedging a transaction in interstate 

commerce in cotton, or the products or by products thereof, or for determining 
Page 3 

the price some of a the transaction in interstate commerce in cotton, or for 

delivering cotton sold, shipped or received in interstate commerce. 

13. 

By reason of the transactions described in paragraphs 6, 7, 8, 9, 10 and 11 

above, the said respondents offered to enter into, entered into, executed and 

confirmed the execution of transactions which were wash sales and fictitious 

sales, in violation of Section 4(a) of the Commodity Exchange Act. 

Therefore, the said respondents, Thomas Jordan & Company, Thomas Jordan, 

Edmund H. Crane, and Frank W. Van Kirk are hereby notified to be and appear at a 

hearing to be held at 10 o'clock, a.m., c.s.t. on the 31st day of March, 1948, 

in Room 306, New Orleans Cotton Exchange Building, New Orleans, Louisiana, 

before a referee designated to conduct such hearing and then and there show 

cause, if any there be, why 

an order should not be made suspending or revoking their registrations as 

futures commission merchants or floor brokers under the Commodity Exchange Act, 

and directing that all contract markets refuse all trading privileges to the 

said respondents for such period of time as the Secretary of Agriculture may 

determine. 

The respondents will have 20 days after the receipt of this notice of hearing 

in which to file with the Secretary of Agriculture, in triplicate, an answer 

fully and completely stating the nature of the defense and admitting or denying 

specifically and in detail each material and relevant allegation of this 

complaint. Allegations that are not answered will be deemed admitted for the 

purpose of this proceeding. 

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

respondents by delivery of a true copy thereof by an employee of the Department 

of Agriculture, or by registered mail, at least 20 days prior to the date set 

for hearing. 

Done at Washington, D. C., this 

12th day of February 1948. 

/s/ Clinton P. Anderson 

Secretary of Agriculture 

LOAD-DATE: June 16, 2008 
Page 4