[Federal Register Volume 63, Number 34 (Friday, February 20, 1998)]
[Notices]
[Page 8737]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-4340]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33550]
Pioneer Railcorp--Continuance in Control Exemption--Pioneer
Industrial Railway Co.
Pioneer Railcorp (Pioneer), a noncarrier holding company, has filed
a notice of exemption to continue in control of Pioneer Industrial
Railway Co. (PRY), upon PRY's becoming a carrier. Pioneer owns all of
the outstanding stock of PRY.
The transaction is scheduled to be consummated on February 17,
1998.
This transaction is related to STB Finance Docket No. 33549,
Pioneer Industrial Railway Co.--Lease and Operation Exemption--Peoria,
Peoria Heights & Western Railroad, wherein PRY seeks to lease and
operate 23.4 miles of rail line from Peoria, Peoria Heights & Western
Railroad.
Pioneer owns and controls twelve 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., Inc., operating in Alabama;
Decatur Junction Railway Co., operating in Illinois; Vandalia Railroad
Company, operating in Illinois; Minnesota Central Railroad Co.,
operating in Minnesota; Keokuk Junction Railway, operating in Iowa and
Illinois; Wabash & Western Railway Co., d/b/a Michigan Southern
Railroad, operating in Michigan and Indiana; Rochelle Railroad Co.,
operating in Illinois; and Shawnee Terminal Railway Company, operating
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 Docket No. 33550, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Unit, 1925 K Street, N.W.,
Washington, DC 20423-0001. In addition, a copy of each pleading must be
served on John D. Heffner, Esq., Rea, Cross & Auchincloss, 1920 N
Street, N.W., Suite 420, Washington, DC 20036.
Decided: February 11, 1998.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-4340 Filed 2-19-98; 8:45 am]
BILLING CODE 4915-00-P
