[Federal Register Volume 61, Number 233 (Tuesday, December 3, 1996)]
[Notices]
[Pages 64191-64192]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-30716]
-----------------------------------------------------------------------
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33298]
Pioneer Railcorp--Acquisition of Control Exemption--Shawnee
Terminal Railway Company, Inc.
Pioneer Railcorp. (Pioneer), a noncarrier holding company, has
filed a notice of exemption to acquire, through stock purchase, Shawnee
Terminal Railway Company, Inc., a Class III shortline railroad,
operating in the State of Illinois.1
---------------------------------------------------------------------------
\1\ See Shawnee Terminal Railway Company, Inc.--Acquisition and
Operation Exemption--Cairo Terminal Railroad Company, Finance Docket
No. 33127 (STB served Oct. 11, 1996).
---------------------------------------------------------------------------
The earliest the transaction could be consummated was November 21,
1996, the effective date of the exemption (7 days after the exemption
was filed).
Pioneer owns and controls eleven existing Class III shortline rail
carriers: West Michigan Railroad Co., operating in Michigan; Fort Smith
Railroad Co., operating in Arkansas; Alabama Railroad Co., operating in
Alabama; Mississippi Central Railroad Co., operating in Mississippi and
Tennessee; Alabama & Florida Railway Co., operating in Alabama; Decatur
Junction Railway Co., operating in Illinois; Vandalia Railroad Company,
operating in Illinois; Minnesota Central Railroad Co., operating in
Minnesota; KNRECO, Inc., d/b/a/ Keokuk Junction Railway, operating in
Iowa and Illinois; Columbia & Northern Railway Co., which has a right
to operate in Mississipi; and Rochelle Railroad Co., which operates in
Illinois.
Pioneer states that: (i) The railroads will not connect with each
other or any railroad in their corporate family; (ii) the acquisition
of control is not part of a series of anticipated transactions that
would connect the eleven railroads with each other or any railroad in
their 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 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
[[Page 64192]]
Docket No. 33298, must be filed with the Surface Transportation Board,
Office of the Secretary, Case Control Branch, 1201 Constitution Avenue,
NW., Washington, DC 20423. In addition, a copy of each pleading must be
served on Daniel A. LaKemper, Esq., Pioneer Railcorp, 1318 S. Johanson
Road, Peoria, IL 61607.
Decided: November 25, 1996.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 96-30716 Filed 12-2-96; 8:45 am]
BILLING CODE 4915-00-P
