[Federal Register Volume 61, Number 137 (Tuesday, July 16, 1996)]
[Notices]
[Pages 37109-37110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18010]


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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board 1
[STB Finance Docket No. 32993]


Norfolk Southern Railway Company--Corporate Family Transaction 
Exemption--The Atlanta and Charlotte Air-Line Railway Company

    Norfolk Southern Railway Company (NSR), a Class I railroad, and The 
Atlanta and Charlotte Air-Line Railway Company (A&CAL), a Class III 
railroad, have jointly filed a verified notice of exemption. The exempt 
transaction is a merger of A&CAL with and into NSR.2
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    \1\ The ICC Termination Act of 1995, Pub. L. No. 104-88, 109 
Stat. 803, which was enacted on December 29, 1995, and took effect 
on January 1, 1996, abolished the Interstate Commerce Commission and 
transferred certain functions to the Surface Transportation Board 
(Board). This notice relates to functions that are subject to Board 
jurisdiction pursuant to 49 U.S.C. 11323-24.
    \2\ A&CAL is a wholly owned, direct subsidiary of NSR with 
authorized capital stock consisting of 17,000 shares of Common 
Stock, 16,999 of which are issued and outstanding and owned by NSR. 
NSR has controlled A&CAL through stock ownership, and has leased and 
operated the properties of A&CAL since approximately 1881. The 
proposed Agreement and Plan of Merger provides that all shares of 
A&CAL's capital stock will be canceled and retired, and no 
consideration will be paid in respect of such shares. NSR is 
controlled through stock ownership by Norfolk Southern Corporation, 
a noncarrier holding company.
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    The transaction is expected to be consummated on or after August 1, 
1996.
    The proposed merger will eliminate A&CAL as a separate corporate 
entity, thereby simplifying the corporate structure of NSR and the NSR 
system, and eliminating costs associated with separate accounting, tax, 
bookkeeping and reporting functions.
    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 or significant operational changes.
    As a condition to 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).
    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 revoke will not automatically stay the 
transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 32993, must be filed with

[[Page 37110]]

the Surface Transportation Board, Office of the Secretary, Case Control 
Branch, 1201 Constitution Avenue, N.W., Washington, DC 20423. In 
addition, a copy of each pleading must be served on James A. Squires, 
Norfolk Southern Corporation, Three Commercial Place, Norfolk, VA 
23510-2191.

    Decided: July 10, 1996.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 96-18010 Filed 7-15-96; 8:45 am]
BILLING CODE 4915-00-P