[Federal Register Volume 62, Number 200 (Thursday, October 16, 1997)]
[Notices]
[Pages 53874-53875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-27486]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33483]
The Toledo, Peoria and Western Railroad Corporation; Continuance
in Control Exemption; Marksman Corporation
The Toledo, Peoria and Western Railroad Corporation (TPW Railroad)
has filed a notice of exemption to continue in control of the Marksman
Corporation (Marksman), upon Marksman's becoming a Class III railroad.
The earliest the transaction can be consummated is October 14,
1997, the effective date of the exemption (7 days after the exemption
was filed).
This transaction is related to STB Finance Docket No. 33481,
Marksman Corporation--Lease and Operation Exemption--J.K. Line, Inc.,
wherein Marksman seeks to lease and operate a rail line from J.K. Line,
Inc.
Applicant indirectly controls one existing Class III railroad
subsidiary: Toledo, Peoria & Western Railway Corporation (TPW
Railway),1 operating in the States of Indiana, Illinois and
Iowa.
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\1\ Marksman owns 100% of the stock of TPW Railway.
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Applicant states that: (i) The rail lines to be operated by
Marksman do not connect with any railroad in the corporate family; (ii)
the transaction is not part of a series of anticipated transactions
that would connect Marksman's lines with any railroad in the corporate
family; and (iii) the transaction does not involve a Class I carrier.
Therefore, the transaction is exempt from the prior approval
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
Under 49 U.S.C. 10502(g), the Board may not use its exemption
authority to relieve a rail carrier of its statutory obligation to
protect the interests of its employees. Section 11326(c), however, does
not provide for labor protection for transactions under sections 11324
and 11325 that involve only Class III rail carriers. Because this
transaction involves Class III rail carriers only, the Board, under the
statute, may not
[[Page 53875]]
impose labor protective conditions for this transaction.
If the notice contains false or misleading information, the
exemption is void ab initio. Petitions to revoke the exemption under 49
U.S.C. 10502(d) may be filed at any time. The filing of a petition to
revoke will not automatically stay the transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33483, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW.,
Washington, DC 20423-0001. In addition, a copy of each pleading must be
served on Eric M. Hocky, Esq., Gollatz, Griffin & Ewing, P.C., 213 West
Miner Street, P.O. Box 796, West Chester, PA 19381-0796.
Decided: October 8, 1997.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 97-27486 Filed 10-15-97; 8:45 am]
BILLING CODE 4915-00-P
