[Federal Register Volume 62, Number 172 (Friday, September 5, 1997)]
[Notices]
[Pages 47109-47110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-23459]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 33450]
Wisconsin & Southern Railroad Co.--Corporate Family Transaction
Exemption--Wisconsin and Calumet Railroad Company
Wisconsin & Southern Railroad Co. (WSOR) and Wisconsin and Calumet
Railroad Company (WICT),\1\ Class III railroads, have jointly filed a
verified notice of exemption. The exempt transaction is a merger of
WICT into WSOR.
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\1\ WSOR and WICT are commonly-controlled by William E. Gardner.
WSOR operates in the State of Wisconsin, and WICT operates in the
States of Wisconsin and Illinois.
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The transaction is expected to be consummated on or about September
1, 1997.
The proposed merger is intended to enhance operating economies,
improve service, foster greater operating efficiency, simplify the
corporate structure, unify accounting and billing, and improve the
financial viability of the surviving corporation.
This is a transaction within a corporate family of the type
specifically exempted from prior review and approval under 49 CFR
1180.2(d)(3). The parties state that the transaction
[[Page 47110]]
will not result in adverse changes in service levels, significant
operational changes, or a change in the competitive balance with
carriers outside the corporate family.
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 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 verified notice contains false or misleading information,
the exemption is void ab initio. Petitions to reopen the proceeding to
revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time.
The filing of a petition to reopen will not automatically stay the
transaction.
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 33450, must be filed with the Surface Transportation
Board, Office of the Secretary, Case Control Unit, 1925 K Street, N.W.,
Washington, DC 20423-0001. In addition, a copy of each pleading must be
served on Robert A. Wimbish, Esq., Rea, Cross & Auchincloss, 1920 N
Street, N.W., Suite 420, Washington, DC 20036.
Decided: August 28, 1997.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 97-23459 Filed 9-4-97; 8:45 am]
BILLING CODE 4915-00-P
