[Federal Register Volume 61, Number 70 (Wednesday, April 10, 1996)]
[Notices]
[Pages 16028-16029]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8849]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board \1\
[STB Finance Docket No. 32890]
Pioneer Railcorp--Continuance in Control Exemption--Rochelle
Railroad Co.
Pioneer Railcorp. (Pioneer), a noncarrier holding company, has
filed a notice of exemption to continue in control of Rochelle Railroad
Co. (RR), upon RR's becoming a Class III rail carrier. The transaction
is scheduled to be consummated on April 15, 1996.
\1\ The ICC Termination Act of 1995, Pub. L. 104-88, 109 Stat.
803, which was enacted on December 29, 1995, and took effect on
January 1, 1996, abolished the Interstate Commerce Commission and
transferred certain functions to the Surface Transportation Board
(Board). This notice relates to functions that are subject to Board
jurisdiction pursuant to 49 U.S.C. 11323.
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This proceeding is related to Rochelle Railroad Co.--Lease and
Operation Exemption--City of Rochelle, IL, STB Finance Docket No.
32889, wherein RR seeks to lease and operate certain rail lines from
the City of Rochelle, IL.
Pioneer owns and controls ten 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; and Columbia & Northern Railway Co., which is
scheduled to begin operating in Mississippi on April 15, 1996. (See STB
Finance Docket Nos. 32886 and 32887.)
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
[[Page 16029]]
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. 32890, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Branch, 1201 Constitution
Avenue, N.W., Washington, DC 20423 and served on: John D. Heffner,
Esq., Rea, Cross & Auchincloss, Suite 420, 1920 N Street, N.W.,
Washington, DC 20036.
Decided: April 4, 1996.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 96-8849 Filed 4-9-96; 8:45 am]
BILLING CODE 4915-00-P
