[Federal Register Volume 60, Number 13 (Friday, January 20, 1995)]
[Notices]
[Page 4192]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1527]



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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32649]


Southern Pacific Transportation Company--Corporate Family 
Transaction Exemption--The Denver and Rio Grande Western Railroad 
Company

    Southern Pacific Transportation Company (SPT) and The Denver Rio 
Grande Railroad Company (DRGW)1 common carriers by railroad, have 
jointly filed a notice of exemption to exempt a transaction whereby (1) 
SPT will purchase DRGW's right-of-way, together with adjoining property 
and improvements, between DRGW milepost 160.8 at or near Canon City, 
CO, and DRGW milepost 628.8 at or near Utah Railway Junction, UT; and 
(2) SPT will purchase DRGW's right-of-way, together with adjoining 
property and improvements, between DRGW milepost 4.8 at or near C&S 
Junction, CO, and DRGW milepost 128.8 at or near Orestod, CO, and 
between DRGW milepost 128.8 and DRGW milepost 231.7 at or near Craig, 
CO.2

    \1\ DRGW is within SPT's consolidated group of companies.
    \2\ DRGW is retaining an easement for rail operations in which 
DRGW will continue to provide freight rail service over the 
properties being transferred to SPT. Under the purchase and sale 
agreements entered into by SPT and DRGW, SPT may not commence rail 
operations over these rail lines without obtaining additional 
authorization from the Commission.
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    The parties state they intended to consummate these transactions on 
or after December 30, 1994.
    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 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. The stated purpose of the transaction is for corporate finance 
reasons and is intended to result in the prospective reduction of SPT's 
consolidated income and combined property tax liabilities, thereby 
improving SPT's financial condition.
    As a condition to use of this exemption, any employees adversely 
affected by this transaction will be protected by 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: 
Louis P. Warchot, Southern Pacific Building, Room 815, One Market 
Plaza, San Francisco, CA 94105.

    Decided: January 17, 1995.

    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 95-1527 Filed 1-19-95; 8:45 am]
BILLING CODE 7035-01-P