[Federal Register Volume 60, Number 182 (Wednesday, September 20, 1995)]
[Notices]
[Page 48724]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23307]
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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32757]
Fordyce & Princeton Railroad Company--Purchase Exemption--Line of
Ashley, Drew & Northern Railway Company
Fordyce & Princeton Railroad Company (FP) has filed a notice of
exemption for FP to purchase from its corporate affiliate, Ashley, Drew
& Northern Railway Company (ADN), approximately 5 miles of ADN's rail
line after ADN abandons and discontinues operations over its entire
line.\1\ The involved line extends between milepost 4.7 at Whitlow
Junction, AR, to milepost 0.0 at Crossett, AR, including 1,941 feet of
ancillary track running east from milepost 0.5 to the Arkansas
Louisiana & Mississippi Railroad (ALM) interchange at Crossett. FP
currently operates over this line pursuant to a trackage rights
agreement with ADN.\2\ FP states that that agreement gives it the
option to purchase the involved line if ADN abandons and discontinues
operations.
\1\FP and ADN are wholly owned subsidiaries of Georgia-Pacific
Corporation. Concurrent with the filing of this notice, ADN filed a
petition in Ashley, Drew & Northern Railway Company--Abandonment
Exemption--in Ashley and Drew Counties, AR, Docket No. AB-455X,
seeking an exemption to abandon its entire line.
\2\See Fordyce and Princeton Railroad Company, Inc.--Purchase
(Portion)--Chicago, Rock Island and Pacific Railroad Company, Debtor
(William M. Gibbons, Trustee) Between Fordyce and Crossett, AR,
Finance Docket No. 29541 (ICC served Mar. 3, 1981).
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The purchase transaction is expected to be consummated on the
effective date of ADN's proposed abandonment in Docket No. AB-455X.
Because the parties are members of the same corporate family, and
the purchase will not result in adverse changes in service levels,
significant operational changes, or a change in the competitive balance
with carriers operating outside the corporate family, the transaction
qualifies for the class exemption at 49 CFR 1180.2(d)(3). The purpose
of the transaction is to preserve FP's access to Crossett and the ALM
interchange after ADN abandons its rail line.
As a condition to use of this exemption, any employees adversely
affected by the transaction will be protected by the conditions set
forth in New York Dock Ry.--Control--Brooklyn Eastern Dist., 360 I.C.C.
60 (1979).
Petitions to revoke the exemption under 49 U.S.C. 10505(d) may be
filed at any time. The filing of a petition to revoke will not stay the
transaction. Pleadings must be filed with the Commission and served on:
Eugenia Langan, Shea & Gardner, 1800 Massachusetts Avenue, NW.,
Washington, DC 20036.
Decided: September 14, 1995.
By the Commission, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 95-23307 Filed 9-19-95; 8:45 am]
BILLING CODE 7035-01-P
