[Federal Register Volume 63, Number 170 (Wednesday, September 2, 1998)]
[Notices]
[Page 46827]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23672]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Ex Parte No. 552 (Sub-No. 2)]
Railroad Revenue Adequacy--1997 Determination
AGENCY: Surface Transportation Board.
ACTION: Notice of decision.
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SUMMARY: On September 2, 1998, the Board served a decision announcing
the 1997 revenue adequacy determinations for the Nation's Class I
railroads. Three carriers (Illinois Central Railroad Company, Norfolk
Southern Railroad Company, and Soo Line Railroad Company) are found to
be revenue adequate.
EFFECTIVE DATE: This decision is effective September 2, 1998.
FOR FURTHER INFORMATION CONTACT: Leonard J. Blistein, (202) 565-1529.
[TDD for the hearing impaired: (202) 565-1695.]
SUPPLEMENTARY INFORMATION: The Board is required to make an annual
determination of railroad revenue adequacy. A railroad will be
considered revenue adequate under 49 U.S.C. 10704(a) if it achieves a
rate of return on net investment equal to at least the current cost of
capital for the railroad industry for 1997, determined to be 11.8% in
Railroad Cost of Capital--1997, STB Ex Parte No. 558 (Sub-No. 1) (STB
served July 20, 1998). In this proceeding, the Board applied the
revenue adequacy standards to each Class I railroad, and it found 3
carriers, Illinois Central Railroad Company, Norfolk Southern Railroad
Company, and Soo Line Railroad Company, to be revenue adequate.
Additional information is contained in the Board's formal decision.
To purchase a copy of the full decision, write to, call, or pick up in
person from: DC NEWS & DATA, INC., Suite 210, 1925 K Street, NW,
Washington, DC 20423. Telephone: (202) 289-4357. [Assistance for the
hearing impaired is available through TDD services (202) 565-1695.] The
decision is also available on the Board's internet site,
www.stb.dot.gov.
Environmental and Energy Considerations
This action will not significantly affect either the quality of the
human environment or the conservation of energy resources.
Regulatory Flexibility Analysis
Pursuant to 5 U.S.C. 603(b), we conclude that our action in this
proceeding will not have a significant economic impact on a substantial
number of small entities. The purpose and effect of the action is
merely to update the annual railroad industry revenue adequacy finding.
No new reporting or other regulatory requirements are imposed, directly
or indirectly, on small entities.
Decided: August 24, 1998.
By the Board, Chairman Morgan and Vice Chairman Owen.
Vernon A. Williams,
Secretary.
[FR Doc. 98-23672 Filed 9-1-98; 8:45 am]
BILLING CODE 4915-00-P
