[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