[Federal Register Volume 61, Number 150 (Friday, August 2, 1996)]
[Notices]
[Page 40470]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19628]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26547]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

July 26, 1996.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated thereunder. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments thereto is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by August 19, 1996, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
shall identify specifically the issues of fact or law that are 
disputed. A person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After said date, the application(s) and/or declaration(s), as 
filed or as amended, may be granted and/or permitted to become 
effective.

CNG Transmission Corporation, et al. (70-7641)

    CNG Transmission Corporation (``Transmission''), a wholly-owned 
subsidiary of Consolidated Natural Gas Company (``Consolidated''), a 
registered holding company, and CNG Iroquois, Inc. (``CNGI''), a 
wholly-owned subsidiary of Transmission, both Transmission and CNGI of 
445 West Main Street, Clarksburg, West Virginia 26301, have filed a 
post-effective amendment, under sections 6(a), 7, 9(a), 10, 12(b) and 
12(c) of the Act and rules 45 and 54 thereunder and section 2(a) of the 
Gas Related Activities Act of 1990, to their application-declaration in 
the above file.
    By orders dated January 9, 1991 (HCAR No. 25239), February 28, 1991 
(HCAR No. 25263), May 7, 1991 (HCAR No. 25308) and July 6, 1993 (HCAR 
No. 25845) (collectively, the ``Orders''), among other things, CNGI was 
authorized to acquire a 9.4% general partnership interest in Iroquois 
Gas Transmission System L.P. (the ``Partnership''), a partnership 
formed to construct and own an interstate natural gas pipeline 
installed betwen Canada and Long Island, New York; to make equity 
contributions to the Partnership up to an aggregate amount of $55 
million outstanding at any one time, through June 30, 1996; and in 
respect of the Partnership, to provide guarantees, indemnities, letters 
of credit and/or reimbursement agreements up to an aggregate amount of 
$20 million outstanding at any one time, through June 30, 1996. 
Pursuant to the Orders, among other things, Transmission was authorized 
to fund CNGI through the making of open account advances and/or the 
purchase of CNGI common stock, at $10,000 par value, up to an aggregate 
amount of $55 million outstanding at any one time, with CNGI retaining 
the right to repurchase the common stock at its par value, through June 
30, 1996; and to provide guarantees, indemnities, letters of credit 
and/or reimbursement agreements to CNGI up to an aggregate amount of 
$20 million outstanding at any one time, through June 30, 1996.
    CNGI now seeks to increase its ownership interest in the 
Partnership from 9.4% to 16% by purchasing a 6.6% general partnership 
interest from ANR Iroquois, Inc. for approximately $15 million.
    The applicants state that construction of the pipeline was 
completed in 1992; a credit facility involving several institutional 
lenders currently provides long-term financing for the pipeline. In 
anticipation of funding obligations which may arise out of maintenance 
activities and expansion projects which the Partnership may undertake 
in the future from time to time, the applicants request extensions 
through June 30, 2001 of CNGI's and Transmission's authority to provide 
guarantees and indemnities, letters of credit and/or related 
reimbursement agreements in an amount, for each company, not to exceed 
$20 million outstanding at any one time, in respect of the Partnership 
and CNGI, respectively.
    CNGI has 5,000 authorized shares of its common stock, $10,000 par 
value, of which 1,494 shares are issued and outstanding. CNGI requests 
authority to increase its authorized share capital from 5,000 to 10,000 
shares. CNGI also seeks an extension through June 30, 2001 to buy back, 
at par value, shares of its common stock issued and sold to 
Transmission.


    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-19628 Filed 8-1-96; 8:45 am]
BILLING CODE 8010-01-M