<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
"Rule 24f-2 Notice"
Fidelity Summer Street Trust
(Name of Registrant)
File No. 2-58542
</PAGE>
<PAGE>
FILE NO. 2-58542
Fidelity Summer Street Trust
: Spartan U.S. Government Money Market Fund
RULE 24F-2 - FILED PURSUANT TO RULE
24f-2(b)(1) OF THE INVESTMENT COMPANY ACT OF 1940
(i) Fiscal Year for Which Notice Filed
Fiscal year ended April 30, 1994
(ii) Number of Securities Which Remained Unsold at Beginning of Fiscal Year
Registered Other Than Pursuant to Rule 24f-2
556,435,874 shares
(iii) Number of Securities Registered During Fiscal Year Other Than Pursuant
to Rule 24f-2
551,354,114 shares
(iv) Number of Securities Sold During Fiscal Year
665,902,289 shares
For information relating to the calculation of the filing fee,
see Note (1) below.
(v) Number of Securities Sold During Fiscal Year Pursuant to Rule 24f-2
665,902,289 shares
<TABLE>
<CAPTION>
Number of Shares
Aggregate Price
<S>
<C>
<C>
Sales Pursuant to Rule 24f-2:
665,902,289
$
665,902,289
Redemptions See Note (2) :
(665,902,289)
$
(665,902,289)
Note (2) : The total number of shares redeemed for the total dollar amount of
redemptions for the fiscal period ended April 30, 1994
, aggregated
805,300,969
and $805,300,969
, respectively. An additional filing
pursuant to Rule 24e-2 can be made to register a number of shares
that will include the share redemptions not utilized under Rule 24f-2.
Net Sales Pursuant to Rule 24f-2:
0
$
0
</TABLE>
Note (1) : Pursuant to Rule 24f-2(c), the filing fee, calculated in the
manner specified in Section 6(b) of the Securities Act
of 1933, amounted to: $0
Fidelity Summer Street Trust
:
Spartan U.S. Government Money Market Fund
By John H. Costello
Assistant Treasurer
</PAGE>
<PAGE>
FILE NO. 2-58542
Fidelity Summer Street Trust
: Spartan Money Market Fund
RULE 24F-2 - FILED PURSUANT TO RULE
24f-2(b)(1) OF THE INVESTMENT COMPANY ACT OF 1940
(i) Fiscal Year for Which Notice Filed
Fiscal year ended April 30, 1994
(ii) Number of Securities Which Remained Unsold at Beginning of Fiscal Year
Registered Other Than Pursuant to Rule 24f-2
3,876,122,602 shares
(iii) Number of Securities Registered During Fiscal Year Other Than Pursuant
to Rule 24f-2
993,103,955 shares
(iv) Number of Securities Sold During Fiscal Year
7,813,320,261 shares
For information relating to the calculation of the filing fee,
see Note (1) below.
(v) Number of Securities Sold During Fiscal Year Pursuant to Rule 24f-2
6,035,839,758 shares
<TABLE>
<CAPTION>
Number of Shares
Aggregate Price
<S>
<C>
<C>
Sales Pursuant to Rule 24f-2:
6,035,839,758
$
6,035,839,758
Redemptions:
(6,035,839,758)
$
(6,035,839,758)
Net Sales Pursuant to Rule 24f-2:
0
$
0
</TABLE>
Note (1) : Pursuant to Rule 24f-2(c), the filing fee, calculated in the
manner specified in Section 6(b) of the Securities Act
of 1933, amounted to: $0
Fidelity Summer Street Trust
:
Spartan Money Market Fund
By John H. Costello
Assistant Treasurer
</PAGE>
<PAGE>
FILE NO. 2-58542
Fidelity Summer Street Trust
: Fidelity Capital & Income Fund
RULE 24F-2 - FILED PURSUANT TO RULE
24f-2(b)(1) OF THE INVESTMENT COMPANY ACT OF 1940
(i) Fiscal Year for Which Notice Filed
Fiscal year ended April 30, 1994
(ii) Number of Securities Which Remained Unsold at Beginning of Fiscal Year
Registered Other Than Pursuant to Rule 24f-2
36,849,712 shares
(iii) Number of Securities Registered During Fiscal Year Other Than Pursuant
to Rule 24f-2
No shares
(iv) Number of Securities Sold During Fiscal Year
152,113,861 shares
For information relating to the calculation of the filing fee,
see Note (1) below.
(v) Number of Securities Sold During Fiscal Year Pursuant to Rule 24f-2
115,264,149 shares
<TABLE>
<CAPTION>
Number of Shares
Aggregate Price
<S>
<C>
<C>
Sales Pursuant to Rule 24f-2:
115,264,149
$
1,355,514,143
Redemptions:
(115,264,149)
$
(1,132,066,403)
Net Sales Pursuant to Rule 24f-2:
0
$
223,447,740
</TABLE>
Note (1) : Pursuant to Rule 24f-2(c), the filing fee, calculated in the
manner specified in Section 6(b) of the Securities Act
of 1933, amounted to: $77,051.48
Fidelity Summer Street Trust
:
Fidelity Capital & Income Fund
By John H. Costello
Assistant Treasurer
</PAGE>
FMR Corp.
82 Devonshire Street
Boston MA 02109-3614
617 570 7000
June 17, 1994
Mr. John Costello, Assistant Treasurer
Fidelity Summer Street Trust (the trust):
Fidelity Capital & Income Fund (the fund)
82 Devonshire Street
Boston, Massachusetts 02109
Dear Mr. Costello:
Fidelity Summer Street Trust is a Massachusetts business trust
created under a written Declaration of Trust dated, executed and
delivered in Boston, Massachusetts on March 23, 1977, under the
name of "Devon Bond Fund". The name was changed to "Fidelity
Aggressive Income Fund" by a supplement to the Declaration of
Trust which was filed with the office of the Secretary of the
Commonwealth on September 21, 1977. Its name was further
changed to "Fidelity High Income Fund" by a supplement to the
Declaration of Trust which was filed with the office of the
Secretary of the Commonwealth on January 21, 1981. An amended
and restated Declaration of Trust dated February 1, 1987 was
delivered and executed in Boston, Massachusetts on February 4,
1987. Its name was further changed to "Fidelity Summer Street
Trust" by a supplement to the Declaration of Trust which was filed
with the office of the Secretary of the Commonwealth on December
21, 1988. An additional supplement to the Declaration of Trust
was delivered, dated, and executed on January 13, 1989. An
amended and restated Declaration of Trust dated April 14, 1994
was delivered and executed in Boston, Massachusetts on May 19,
1994.
I have conducted such legal and factual inquiry as I have deemed
necessary for the purpose of rendering this opinion.
Under Article III, Section 1, of the Declaration of Trust, the
beneficial interest in the trust shall be divided into such transferable
Shares (the Shares) of one or more separate and distinct Series as
the Trustees shall from time to time create and establish. The
number of Shares is unlimited and each Share shall be without par
value and shall be fully paid and nonassessable. Said Section
provides that Trustees have full power and authority, in their sole
discretion and, so far as provided in the Declaration of Trust,
without obtaining any prior authorization or vote of the
Shareholders of the trust, to create and establish (and to change in
any manner) Shares with such preferences, voting powers, rights
and privileges as the Trustees may from time to time determine, to
divide or combine the Shares into a greater or lesser number, to
classify or reclassify any issued Shares into one or more Series of
Shares, to abolish any one or more Series of Shares, and to take
such other action with respect to the Shares as the Trustees may
deem desirable.
Under Article III, Section 4, the Trustees are empowered to accept
investments in the trust in cash or securities from such persons and
on such terms as they may from time to time authorize.
Investments in the trust, subsequent to the initial contribution of
capital, shall be credited to the Shareholder's account in the form of
full shares of a fund at the Net Asset Value per Share next
determined after the investment is received and accepted; provided
however, that the Trustees may, in their sole discretion (a) impose a
sales charge upon investment in the trust and (b) issue fractional
shares.
By a vote adopted on March 23, 1977 and amended on February
22, 1985, the Board of Trustees authorized the issue of sale, from
time to time, of an unlimited number of shares of beneficial interest
of the fund in accordance with the terms included in the fund's
Prospectus and Statement of Additional Information and subject to
the limitations of the Declaration of Trust and any amendments
thereto.
I understand from you that, pursuant to Rule 24f-2 under the
Investment Company Act of 1940, the fund has registered indefinite
numbers of shares of the beneficial interest under the Securities Act
of 1933. I further understand that, pursuant to the provision of
Rule 24f-2, the fund is about to file with the Securities and
Exchange Commission a Notice making definite the registration of
6,817,006,196 Shares of the fund, sold in reliance upon Rule 24f-2
during the fiscal year ended April 30, 1994.
I am of the opinion that all necessary trust action precedent to the
issue of the Shares has been duly taken, and that all the Shares were
legally and validly issued, and are fully paid and nonassessable
except as described in the fund's Statement of Additional
Information under the heading "Shareholder and Trustee Liability."
In rendering this opinion, I rely on the representation by the fund
that it or its agent received consideration for the Shares in
accordance with the fund's Declaration of Trust and I express no
opinion as to compliance with the Securities Act of 1933, the
Investment Company Act of 1940 or applicable state "Blue Sky" or
securities laws in connection with sales of the Shares.
I hereby consent to the filing of this opinion with the Securities and
Exchange Commission in connection with a Rule 24f-2 Notice
which you are about to file under the 1940 Act with said
Commission.
Sincerely,
/s/Arthur S. Loring, Esq.
Arthur S. Loring, Esq.
Vice President - Legal
Mr. John Costello
June 17, 1993
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