[Federal Register Volume 60, Number 23 (Friday, February 3, 1995)]
[Notices]
[Pages 6733-6734]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-2644]
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DEPARTMENT OF JUSTICE
Antitrust Division
United States v. New England Fish Exchange, et al.; Proposed
Termination of Final Decree
Notice is hereby given that defendant New England Fish Exchange
(``NEFE'') has filed with the United States District Court for the
District of Massachusetts a motion to terminate the Final Decree
entered in United States v. New England Fish Exchange, et al., No. 810
Equity, and the Department of Justice (``government''), in a
stipulation also [[Page 6734]] filed with the Court, has consented to
termination of the Final Decree, but has reserved the right to withdraw
its consent based on public comments and for other reasons.
The Original Petition in this case was filed on June 21, 1917, and
charged the NEFE, and 49 other businesses and individuals, with
combining and conspiring to monopolize and restrain interstate trade
and commerce in the fresh fish industry in New England, in violation of
Sections 1 and 2 of the Sherman Act and Section 7 of the Clayton Act.
Specifically, the Petition alleged that of the 40 member dealers of the
NEFE, 28 were owned by defendant dealer Boston Fish Pier Co. and 8 were
owned by defendant dealer Boston Fish Pier Co. and 8 were owned by
defendant dealer Bay State Fishing Co. Because of their monopoly power,
Boston Fish Pier Co. and Bay State Fishing Co. were able to impose
rules and regulations upon the NEFE that made it impossible for boat
captains to get fair prices for their fish when it was auctioned off at
the NEFE. It was also virtually impossible for non-NEFE members to
purchase fish in Boston.
The Final Decree: (i) prohibited the NEFE's practice of restricting
its membership to only those dealers having offices on the Boston Fish
Pier; (ii) ordered Boston Fish Pier Co. to divest and dissolve; (iii)
ordered Bay State Fishing Co. to divest; (iv) prohibited the defendants
from ``splitting trips'', that is, entering into action pools when lots
of fish were being bid on. They were also enjoined from ``agreeing
among themselves to raise or depress the price of fish; (v) limited the
NEFE's annual return on capital to 8%; and (iv) prohibited the NEFE
from accumulating capital in excess of $36,000, plus a safety fund of
an additional $15,000.
The government has filed with the Court a memorandum setting forth
the reasons why the government believes that termination of the Final
Decree would serve the public interest. Copies of the Petition, Final
Decree, the Government's Memorandum, motion papers and all further
papers filed with the Court in connection with this motion will be
available for inspection at Room 3233, Antitrust Division, Department
of Justice, 10th Street and Pennsylvania Avenue, N.W., Washington, D.C.
20530 (telephone 202-633-2481), and at the Office of the Clerk of the
United States District Court for the District of Massachusetts, United
States Courthouse, John W. McCormack Post Office and Courthouse
Building, Boston, Massachusetts 02109. Copies of any of these materials
may be obtained from the Antitrust Division upon request and payment of
the copying fee set by Department of Justice regulations.
Interested persons may submit comments regarding the proposed
termination of the Final Decree to the government. Such comments must
be received within the sixty-day period established by Court order, and
will be filed with the Court by the government. Comments should be
addressed to Ralph T. Giordano, Chief, New York Office, Antitrust
Division, Department of Justice, New York, New York 10278 (telephone
212-264-0390).
Constance K. Robinson,
Director of Operations.
[FR Doc. 95-2644 Filed 2-2-95; 8:45 am]
BILLING CODE 4410-01-M