Chicago Mercantile Exchange v. Tieken

HUFFMAN, District Judge.

This is a class action in which the plaintiffs seek an injunction and a declaration that the Onion Futures Act (hereafter “Act”), 72 Stat. 1013, 7 U.S.C.A. § 13-1, is unconstitutional. The Act provides in relevant part that:

“ * * * no contract for the sale of onions for future delivery shall be made on or subject to the rules of any board of trade in the United States.”

Violation of the Act is a misdemeanor, and the maximum penalty is a fine of $5,000.

The plaintiff Exchange is a board of trade within the meaning of the Act. 'The other plaintiffs are connected with •the…