[Federal Register Volume 63, Number 160 (Wednesday, August 19, 1998)]
[Notices]
[Pages 44508-44509]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-22316]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33640]
Laurinburg & Southern Railroad Co., Inc.--Acquisition and
Operation Exemption--Line of L&S Holding Company
Laurinburg & Southern Railroad Co., Inc. (L&S), a noncarrier, has
filed a notice of exemption under 49 CFR 1150.31 to acquire from L&S
Holding Company (LSHC) and to operate approximately 28.2 miles of rail
line in North Carolina extending from the end of the line near Johns to
the interchange with Aberdeen and Rockfish Railroad Co. near RaeFord.
The notice states that the rail assets of LSHC may be conveyed to an
affiliate of LSHC and then reconveyed from the affiliate to L&S, in
contemporaneous transactions, and that because of the contemporaneous
nature of the transactions, the common carrier obligation will transfer
immediately from LSHC to L&S.1
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\1\ L&S certifies that its projected revenues will not exceed
those that would qualify it as a Class III rail carrier and its
revenues are not projected to exceed $5 million.
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[[Page 44509]]
The transaction was expected to be consummated on or shortly after
July 30, 1998.
This proceeding is related to Gulf & Ohio Railways Holding Co.,
Inc.-- Continuance in Control Exemption--Laurinburg & Southern Railroad
Co., Inc., STB Finance Docket No. 33641, wherein Gulf & Ohio Railways
Holding Co., Inc., a noncarrier, has concurrently filed a notice of
exemption to continue in control of L&S and nine other rail carriers
upon L&S becoming a Class III rail carrier.
If the verified 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. 33640, 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, one copy of each pleading must
be served on Mark H. Sidman, Weiner, Brodsky, Sidman & Kider, P.C.,
1350 New York Avenue, NW., Suite 800, Washington, DC 20005-4797.
Board decisions and notices are available on our website at
``WWW.STB.DOT.GOV.''
Decided: August 12, 1998.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-22316 Filed 8-18-98; 8:45 am]
BILLING CODE 4915-00-P
