[Federal Register Volume 59, Number 100 (Wednesday, May 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12720]
[[Page Unknown]]
[Federal Register: May 25, 1994]
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FEDERAL MARITIME COMMISSION
Berkshire Financial Services, Inc., et al.; Notice of
Applications To Engage de novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1))
for the Board's approval under section 4(c)(8) of the Bank Holding
Company Act (12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y
(12 CFR 225.21(a)) to commence or to engage de novo, either directly or
through a subsidiary, in a nonbanking activity that is listed in Sec.
225.25 of Regulation Y as closely related to banking and permissible
for bank holding companies. Unless otherwise noted, such activities
will be conducted throughout the United States.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the application has been accepted
for processing, it will also be available for inspection at the offices
of the Board of Governors. Interested persons may express their views
in writing on the question whether consummation of the proposal can
``reasonably be expected to produce benefits to the public, such as
greater convenience, increased competition, or gains in efficiency,
that outweigh possible adverse effects, such as undue concentration of
resources, decreased or unfair competition, conflicts of interests, or
unsound banking practices.'' Any request for a hearing on this question
must be accompanied by a statement of the reasons a written
presentation would not suffice in lieu of a hearing, identifying
specifically any questions of fact that are in dispute, summarizing the
evidence that would be presented at a hearing, and indicating how the
party commenting would be aggrieved by approval of the proposal.
Unless otherwise noted, comments regarding the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than June 14, 1994.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Berkshire Financial Services, Inc., Lee, Massachusetts; to
engage de novo through its subsidiary, Berkshire Financial Centers,
Inc., Lee, Massachusetts, in securities brokerage activities, related
securities credit activities, and incidental activities solely for the
account of customers (and not securities underwriting and dealing)
pursuant to Sec. 225.25(b)(15); and providing mortgage origination
services pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
These activities will be conducted in the States of Massachusetts,
Connecticut, New York and Vermont.
B. Federal Reserve Bank of Kansas City (Stephen E. McBride,
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri
64198:
1. Pikes Peak National Company, Colorado Springs, Colorado; to
engage de novo, in making and servicing loans pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y.
C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. Cherokee Bancorp, Inc., Jacksonville, Texas; to engage de novo
through its subsidiary, TexasEast Bank Services, Inc., Longview, Texas,
in providing management consulting advice to nonaffiliated depository
institutions pursuant to Sec. 225.25(b)(11) of the Board's Regulation
Y. These activities will be conducted in the States of Texas,
Louisiana, Arkansas, and Oklahoma.
Board of Governors of the Federal Reserve System, May 19, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-12720 Filed 5-24-94; 8:45 am]
BILLING CODE 6210-01-F
