[Federal Register Volume 59, Number 201 (Wednesday, October 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-25874]


[[Page Unknown]]

[Federal Register: October 19, 1994]


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INTERSTATE COMMERCE COMMISSION

[Finance Docket No. 32584]

 

Caldwell County Railroad Company--Lease, Operation, and 
Acquisition Exemption--Norfolk Southern Railway Company

    Caldwell County Railroad Company (CCR), a noncarrier, has filed a 
notice of exemption for the lease, operation, and possible future 
acquisition of a rail line\1\ currently owned by the Norfolk Southern 
(NS) and leased and operated by the Carolina & Northwestern Railroad, 
Inc. (C&NW).2 The line extends from milepost HG-90.0 at Hickory, 
NC, to milepost HG-112.7 at Valmead, NC, a distance of approximately 
22.7 miles. The lease transaction was expected to be consummated on or 
after September 24, 1994.
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    \1\The Caldwell County Economic Development Commission (CCEDC) 
is currently negotiating with NS for the purchase of the line. 
Should CCEDC be successful in its efforts to acquire the line, it 
has agreed in principle to extend to CCR an option to purchase the 
subject rail property. Both CCEDC's acquisition of the NS line and 
CCR's exercise of its option to acquire the line from CCEDC, should 
it be formalized, would require subsequent Commission approval or 
exemption. To the extent that the notice of exemption relates to the 
future purchase of the subject NS line, it is rejected.
    \2\The transaction is to be implemented pursuant to an agreement 
entered into by NS, C&NW, and CCR under which the C&NW lease to 
operate the NS line is to be assigned to CCR. Under these 
circumstances, C&NW will not be required to seek Commission approval 
to terminate operations over the line.
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    This proceeding is related to Donald J. and Carol N. McGrady--
Continuance in Control Exemption--Caldwell County Railroad Company, 
Finance Docket No. 32585, wherein Donald J. and Carol N. McGrady filed 
a notice of exemption seeking to continue in control of CCR and 
Southeast Shortlines, Inc., d/b/a Thermal Belt Railway, upon CCR 
becoming a carrier.
    Any comments must be filed with the Commission and served on: 
Robert A. Wimbish, Rea, Cross & Auchincloss, Suite 420, 1920 N Street, 
N.W., Washington, DC 20036.
    This notice is filed under 49 CFR 1150.31. If the notice contains 
false or misleading information, the exemption is void ab initio. 
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 automatically 
stay the transaction.

    Decided: October 13, 1994.

    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams
Acting Secretary.
[FR Doc. 94-25874 Filed 10-18-94; 8:45 am]
BILLING CODE 7035-01-P