[Federal Register Volume 63, Number 193 (Tuesday, October 6, 1998)]
[Notices]
[Page 53744]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-26619]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33659]
Toledo, Peoria & Western Railway Corp.--Corporate Family
Transaction Exemption--Marksman Corp.
Toledo, Peoria & Western Railway Corporation (TPW Railway), a Class
III rail common carrier, has filed a notice of exemption to lease, by
assignment, 17 miles of rail line from Marksman Corporation (Marksman),
a Class III rail carrier, between milepost 183 near Monterey, IN, and
milepost 199 near North Judson, IN (the Rail Line). The Rail Line is
now leased from J.K. Line, Inc., by Marksman. Marksman owns 100% of the
capital stock of TPW Railway.1 TPW Railway plans to operate
as well as lease the Rail Line.2
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\1\ See Marksman Corporation--Lease and Operation Exemption--
J.K. Line, Inc., STB Finance Docket No. 33481 (STB served Oct. 16,
1997).
\2\ See R.J. Corman Railroad Company/Pennsylvania Lines Inc.--
Lease Exemption-- Clearfield & Mahoning Railway Company, STB Finance
Docket No. 32861 (STB served June 21, 1996), slip op. at 1 n.2.
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The earliest the transaction could be consummated was September 17,
1998, the effective date of the exemption (7 days after the exemption
was filed).
The purpose of the transaction is to simplify the arrangements for
the operation of the Rail Line. Prior to filing the notice, TPW Railway
already performed operations on the Rail Line on behalf of Marksman
pursuant to an unwritten agreement with Marksman. Assignment of the
lease to TPW Railway will allow it to assume common carrier
responsibilities in conjunction with its other rail operations.
This is a transaction within a corporate family of the type
specifically exempted from prior review and approval under 49 CFR
1180.2(d)(3). The parties state that the transaction will not result in
adverse changes in service levels, significant operational changes, or
a change in the competitive balance with carriers outside the corporate
family.
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 impose labor protective conditions for this
transaction.
If the notice contains false or misleading information, the
exemption is void ab initio. Petitions to reopen the proceeding to
revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time.
The filing of a petition to reopen will not automatically stay the
transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33659, 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 W.
Miner Street, PO Box 796, West Chester, PA 19381-0796.
Board decisions and notices are available on our website at
``WWW.STB.DOT.GOV.''
Decided: September 29, 1998.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-26619 Filed 10-5-98; 8:45 am]
BILLING CODE 4915-00-P
