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Wallace V. Cutten
''Wallace v. Cutten'', 298 U.S. 229 (1936), was a case in which the Supreme Court of the United States held that the authority of the United States Secretary of Agriculture The United States secretary of agriculture is the head of the United States Department of Agriculture. The position carries similar responsibilities to those of agriculture ministers in other governments. The department includes several organi ... under the Grain Futures Act was limited to prevent continued violation of the act, not past violations.. Background The Secretary of Agriculture served a complaint upon the Respondent, Arthur W. Cutten on April 11, 1934 alleging that Cutten had not reported his net position in futures that he controlled to the Grain Futures Administration when he had commitments in excess of 500,000 bushels. The complaint also alleged that he conspired with other grain firms to hide his net position from the Grain Futures Administration, and he reported false information to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grain Futures Act
The Grain Futures Act (ch. 369, , ) is a United States federal law enacted September 21, 1922 involving the regulation of trading in certain commodity futures, and causing the establishment of the Grain Futures Administration, a predecessor organization to the Commodity Futures Trading Commission. The bill that became the Grain Futures Act was introduced in the United States Congress two weeks after the US Supreme Court declared the Futures Trading Act of 1921 unconstitutional in Hill v. Wallace 259 U.S. 44 (1922).Markham, Jerry The history of Commodity futures Trading and its Regulation, 13 The Grain Futures Act was held to be constitutional by the US Supreme Court in Board of Trade of City of Chicago v. Olsen 262 US 1 (1923). In 1936 it was revised into the Commodity Exchange Act (CEA). The act was further superseded in 1974 by establishing the Commodity Futures Trading Commission. In 1982 the Commodity Futures Trading Commission created the National Futures Association (NFA). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |