Yale Belt Corporation

Text (OCR of the scan at left; may contain errors)

In THE MATTER OF YALE BELT CORPORATION ET AL.

CONSENT ORDER, ETC., IN REGARD TO THE ALLEGED VIOLATION OF THE FEDERAL TRADE COMMISSION ACT Docket 6722. Complaint, Feb. 11, 1957—Decision, June 1, 1957 Consent order requiring a manufacturer in New York City to cease preticketing ladies’, men’s, and boys’. belts with exaggerated and fictitious price figures or making use of any other plan enabling retailers to misrepresent the usual retail price of merchandise.

Mr. Harry FE. Middleton, Jr., for the Commission. Mr. Abbott Gould, of New York City, for respondents. Inrr1au Decision By John B. Pornpexter, Heartne EXAMINER The complaint in this proceeding charges the respondents with using fictitious pre-ticketing in the sale of ladies’ and men’s belts. An agreement has been entered into between respondents, their counsel, and counsel supporting the complaint which provides, among other things, the following: Respondents admit all jurisdictional facts; the complaint may be used in construing the terms of the order; the order shall have the same force and effect as if entered after a full hearing and the said agreement shall not become a part of the official record of the proceeding unless and until it becomes a part of the decision of the Commission; respondents waive the requirement that the decision must contain a statement of findings of fact and conclusions of law; respondents waive further procedural steps before the hearing examiner and the Commission, and the order may be altered, modified, or set aside in the manner provided by statute for other orders; respondents waive any right to challenge or contest the validity of the order entered in accordance with the agreement; and the signing of said agreement is for settlement purposes only and does not constitute an admission by respondents that they have violated the law as alleged in the complaint. The Hearing Examiner, having considered the agreement and proposed order, and being of the opinion that the acceptance of the agreement will be in the public interest, hereby accepts such agreement, makes the following jurisdictional findings, and issues the following order:

1. Respondent, Yale Belt Corporation, is a corporation organized and doing business under the laws of the State of New York, with *+#> office and principal place of business located at 183 Wooster Decision 53 F.T.C.

Street, in the City of New York, State of New York. The address of the individual respondents Bernard Krasnow, Leonard Krasnow, and Bert Krasnow is the same as that of the corporate respondent. 2. The Federal Trade Commission has jurisdiction of the subject matter of this proceeding and of the respondents, and the proceeding is in the public interest.

ORDER It is ordered, That the respondents Yale Belt Corporation, a corporation, and its officers; Bernard Krasnow, Leonard Krasnow and Bert Krasnow, individually and as officers of said corporation, and respondents’ representatives, agents and employees, directly or through any corporate or other device, in connection with the offering for sale, sale, or distribution in commerce, as “commerce” is defined in the Federal Trade Commission Act, of belts or other articles of merchandise, do forthwith cease and desist from: 1. Representing, by pre-ticketing or in any manner, that certain amounts are the usual and regular retail price of their products when such amounts are in excess of the prices at which their products are usually and regularly sold at retail.

2. Putting into operation any plan whereby retailers or others may misrepresent the regular and usual retail price of merchandise. DECISION OF THE COMMISSION AND ORDER TO FILE REPORT OF COMPLIANCE Pursuant to Section 3.21 of the Commission’s Rules of Practice, the initial decision’ of the hearing examiner shall, on the 1st day of June, 1957, become the decision of the Commission; and, accordingly: ; oo It ts ordered, That the respondents herein shall, within sixty (60). days after service upon them of this order, file with the Commission a report in writing setting forth in detail the manner and form in which they have complied with the order to cease and desist. CHICAGO BOARD CO. 1119 Decision