95-1528. Norfolk Southern Railway CompanyRenewal of Lease and Corporate Family ExemptionSouthern Railway-Carolina Division

[Federal Register Volume 60, Number 13 (Friday, January 20, 1995)]
[Notices]
[Page 4190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1528]



-----------------------------------------------------------------------

INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32627]


Norfolk Southern Railway Company--Renewal of Lease and Corporate 
Family Exemption--Southern Railway-Carolina Division

    Norfolk Southern Railway Company (NSR) or its predecessors have for 
over 90 years leased a portion of track in North Carolina and South 
Carolina from the Southern Railway-Carolina Division (SRCD).1 NSR 
owns all the common stock of SRCD. The original lease was executed June 
30, 1902 and the present renewal which was executed in 1958 expired on 
January 1, 1995. The railroads have agreed to extend the lease for 
successive one-year terms to commence January 1, 1995, until terminated 
by agreement of parties or operation of law. It is expected that SCRD 
will be liquidated or merged into NSR. Accordingly, the purpose of this 
exemption is to extend the lease until such times as this occurs.

    \1\ NSR is a class I railroad controlled by Norfolk Southern 
Corporation, which owns all of NSR's common stock.
---------------------------------------------------------------------------

    This notice is filed under: (1) 49 CFR 1180.2(d)(3) which exempts 
transactions within a corporate family that do not result in adverse 
changes in service levels, significant operational changes, or a change 
in the competitive balance with carriers outside the corporate family; 
and (2) 49 CFR 1180.2(d)(4), which exempts renewal of leases and any 
other matters where the Commission has previously authorized the 
transaction and only an extension in time is involved. Petitions to 
revoke the exemption under 49 U.S.C. 10505(d) may be filed at any time. 
The filing of a petition to revoke will not stay the transaction.
    Any comments must be filed with the Commission and served on: Greg 
E. Summy, Norfolk Southern Corporation, Three Commercial Place, 
Norfolk, VA 23510-2191.
    As a condition to use of this exemption, any employees affected by 
the lease transaction will be protected pursuant to Mendocino Coast 
Ry., Inc.--Lease and Operate, 354 I.C.C. 732 (1978) and 360 I.C.C. 653 
(1980) and any employees affected by the corporate family transaction 
will be protected pursuant to the conditions set forth in New York Dock 
Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).

    Decided: January 17, 1995.

    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 95-1528 Filed 1-19-95; 8:45 am]
BILLING CODE 7035-01-P