[Federal Register Volume 60, Number 221 (Thursday, November 16, 1995)]
[Notices]
[Page 57594]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28304]



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INTERSTATE COMMERCE COMMISSION
[Finance Docket No. 32784]


Phillip C. Larson, Russell A. Peterson, and Dennis E. Larson; 
Continuance in Control Exemption; Allegheny Valley Railroad Company

    Phillip C. Larson, Russell A. Peterson, and Dennis E. Larson have 
filed a notice of exemption to continue in control of Allegheny Valley 
Railroad Company (AVR), upon AVR becoming a class III rail carrier. 
AVR, a noncarrier, has concurrently filed a notice of exemption in 
Finance Docket No. 32783, Allegheny Valley Railroad Company--
Acquisition and Operation Exemption--Certain Lines of Consolidated Rail 
Corporation, in which AVR seeks to acquire and operate approximately 
22.65 miles of rail line owned by Consolidated Rail Corporation between 
Pittsburgh and Arnold, in Allegheny and Westmoreland Counties, PA. The 
parties intended to consummate this transaction on October 26, 1995.
    The above individuals also control through stock ownership two 
other nonconnecting class III rail carriers: Camp Chase Industrial 
Railroad Corporation (CCIR), operating in Ohio, and Southwest 
Pennsylvania Railroad Company (SWP), operating in Pennsylvania. The 
shareholders' ownership in CCIR is 16 percent each for Phillip C. and 
Dennis E. Larson and 68 percent for Russell A. Peterson; \1\ the stock 
ownership in SWP is 50.2 percent for Russell A. Peterson and 24.9 
percent each for Phillip C. and Dennis E. Larson. The individuals 
jointly own 100 percent of the shares of AVR.

    \1\ In prior filings with the Commission, the distribution of 
ownership of CCIR was represented as 14 percent each for Phillip C. 
and Dennis E. Larson and 72 percent for Russell A. Peterson. The 
change in distribution indicated in this filing occurred on October 
11, 1995, as a function of the shareholders agreement among the 
affected parties.
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    Also, Russell A. Peterson owns 33\1/3\ percent of the shares in 
another class III rail carrier, Gulf Coast Rail Service, Inc. d/b/a 
Orange Port Terminal Railway (OPTR), which operates in Texas. Two other 
parties who are not related to this transaction own the remainder of 
the stock of OPTR.\2\

    \2\ Notice of a continuance in control was given by the 
Commission in Russell A. Peterson--Continuance in Control 
Exemption--Gulf Coast Rail Service, Inc. d/b/a Orange Port Terminal 
Railway, Finance Docket No. 32782 (ICC served Oct. 20, 1995).
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    The parties state that: (1) The railroads will not connect with 
each other or with any railroads in their corporate family; (2) the 
continuance in control is not part of a series of anticipated 
transactions that would connect the railroads with each other or any 
railroad in their corporate family; and (3) the transaction does not 
involve a class I carrier. The transaction is therefore exempt from the 
prior approval requirements of 49 U.S.C. 11343. See 49 CFR 
1180.2(d)(2).
    As a condition to use of this exemption, any employees 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 
automatically stay the transaction. Pleadings must be filed with the 
Commission and served on: Dennis E. Larson, P.O. Box 28096, Columbus, 
OH 43228.

    Decided: November 7, 1995.

    By the Commission, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 95-28304 Filed 11-15-95; 8:45 am]
BILLING CODE 7035-01-P