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Commodity Futures Trading Commission 

CEA CASES 

NAME: WOLCOTT & LINCOLN, INC., AND GUNNARD A. JOHNSON 

DOCKET NUMBER: STIPULATION 70 

DATE: NOVEMBER 19, 1964 

DOCUMENT TYPE: STIPULATION OF COMPLIANCE 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BEFORE THE SECRETARY OF AGRICULTURE 

In re: Wolcott & Lincoln, Inc., and Gunnard A. Johnson 

Stipulation of Compliance under the Commodity Exchange Act No. 70 

The Secretary of Agriculture has reason to believe that Wolcott & Lincoln, 

Inc., and Gunnard A. Johnson have violated the provisions of the Commodity 

Exchange Act (7 U.S.C., Chapter 1) and the regulations of the Secretary of 

Agriculture promulgated thereunder. No complaint with respect to such 

violations has been issued and Wolcott & Lincoln, Inc., and Gunnard A. Johnson 

are 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, Wolcott & Lincoln, Inc., 

and Gunnard A. Johnson stipulate the following facts are true: 

(1) Wolcott & Lincoln, Inc., is and was at all times mentioned herein a 

Missouri corporation and a registered futures commission merchant under the 

Commodity Exchange Act with an office and principal place of business at 801 

Board of Trade Building, Kansas City 5, Missouri. 

(2) Gunnard A. Johnson is and was at all times mentioned herein President of 

Wolcott & Lincoln, Inc., a registered floor broker under 

the Commodity Exchange Act and a member of the Kansas City Board of Trade. 

(3) The acts and practices on the part of Wolcott & Lincoln, Inc., 

hereinafter described were carried out by Gunnard A. Johnson in his capacity as 

floor broker and President of Wolcott & Lincoln, Inc. 

(4) During the period January 2, 1964, through June 4, 1964, Wolcott & 

Lincoln, Inc., entered into transactions on the Kansas City Board of Trade in 

Kansas City wheat futures in the amount of 1,675,000 bushels purchased and 

1,675,000 bushels sold. 

The Secretary of Agriculture has advised Wolcott & Lincoln, Inc., and Gunnard 

A. Johnson that such transactions with certain registered futures commission 

merchants, whose trading, for the account of Uhlmann & Co., Inc., was for the 

purpose of paying commissions to such registered futures commission merchants 

were, or were of the character of, wash trades or accommodation trades in 

violation of section 4c(A) of the Commodity Exchange Act. 

Wolcott & Lincoln, Inc., and Gunnard A. Johnson agree to desist from such 

acts and practices in the future. They further understand and agree that this 

stipulation shall be admissible as evidence of such acts and practices in any 

future proceeding based upon acts or practices other than those referred to 

herein which may be brought 
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by the Secretary of Agriculture against either of them under the provisions of 

the said act. They also understand that it is the practice of the Commodity 

Exchange Authority to make stipulations of compliance a matter of public record. 

Done at Kansas City, Missouri, this 19th day of November, 1964 

WOLCOTT & LINCOLN, INC. 

By [SEE SIGNATURE IN ORIGINAL] 

[SEE SIGNATURE IN ORIGINAL] 

Gunnard A. Johnson 

Witnesses: 

[SEE SIGNATURE IN ORIGINAL] 

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