[Federal Register Volume 62, Number 118 (Thursday, June 19, 1997)]
[Notices]
[Pages 33447-33448]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-16085]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26731]


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

June 13, 1997.
    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 July 7, 1997, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549, and serve a copy on the relevant 
applicants 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.

Columbia Gas System, Inc., et al. (70-8925)

    The Columbia Gas System, Inc. (``Columbia''), a registered holding 
company, its service company subsidiary, Columbia Gas System Service 
Corporation, its liquified natural gas subsidiary, Columbia LNG 
Corporation, its trading subsidiary, Columbia Atlantic Trading 
Corporation, all located at 12355 Sunrise Valley Drive, Suite 300, 
Reston, Virginia 20191-3458; its distribution subsidiaries, Columbia 
Gas of Ohio, Inc., Columbia Gas of Pennsylvania, Inc., Columbia Gas of 
Kentucky, Inc., Columbia Gas of Maryland, Inc., Commonwealth Gas 
Services, Inc., all located at 200 Civic Center Drive, Columbus, Ohio 
43215; its transmission subsidiaries, Columbia Gas Transmission 
Corporation and Columbia Gulf Transmission Company, both located at 
1700 MacCorkle Avenue, S.E., Charleston, West Virginia 25314; its 
exploration and production subsidiary, Columbia Natural Resources, 
Inc., 900 Pennsylvania Avenue, Charleston, West Virginia 25302; its 
propane distribution subsidiaries, Commonwealth Propane, Inc. and 
Columbia Propane Corporation, both located at 9200 Arboretum Parkway, 
Suite 140, Richmond, Virginia 23236; its energy services and marketing 
subsidiaries, Columbia Energy Services Corporation, Columbia Service 
Partners, Inc. and Columbia Energy Marketing Corporation, all located 
at 121 Hill Pointe Drive, Suite 100, Canonsburg, Pennsylvania 15317; 
its network services subsidiary, Columbia Network Services Corporation 
(``CNS'') and CNS' recently formed subsidiary, CNS Microwave, Inc. 
(``CMI''), both located at 1600 Dublin Road, Columbia, Ohio 43215-1082; 
and its other subsidiaries, Tristar Ventures Corporation, Tristar 
Capital Corporation, Tristar Pedrick Limited Corporation, Tristar 
Pedrick General Corporation, Tristar Binghamton Limited Corporation, 
Tristar Binghamton General Corporation, Tristar Vineland Limited 
Corporation, Tristar Vineland General Corporation, Tristar Rumford 
Limited Corporation, Tristar Georgetown Limited Corporation, Tristar 
Georgetown General Corporation, Tristar Fuel Cells Corporation, TVC 
Nine Corporation, TVC Ten Corporation and Tristar System, Inc., all 
located at

[[Page 33448]]

205 Van Buren, Herndon, Virginia 22070 (together, ``System'' or 
``Applicants'') have filed a joint application-declaration under 
sections 6(a), 7, 9(a), 10 and 12(b) of the Act and rules 45 and 53.
    By prior order dated December 23, 1996 (HCAR No. 26634) 
(``Order''), the Commission authorized the Columbia System to, among 
other things, continue the operation of the System money pool (``Money 
Pool'') through December 31, 2001. The Applicants requested that the 
Commission reserve jurisdiction over Money Pool participation by new 
direct or indirect subsidiaries engaged in new lines of business that 
were not included in the Order.
    On October 15, 1996, Columbia formed CMI, as a subsidiary of CNS, 
which is an exempt telecommunications company (``ETC'') under section 
34(a)(1) of the Act.\1\ CMI intends to offer services to personal 
communications services (``PCS'') and other microwave radio service 
licensees relating to the installation and maintenance of their 
networks which could include the locating and constructing of antenna 
facilities, and the maintenance and management of PCS sites for 
licensees. CMI also intends to offer services by means of radio, leased 
line, and other transmission facilities to third parties and to CMI's 
affiliate and associate companies and their respective customers for 
purposes of enabling them to maintain the reliability of their systems 
and services. In addition, CMI may also provide to customers by means 
of radio, leased line, and other transmission facilities, access to 
electronic bulletin boards, energy trading systems and/or databases 
that would facilitate customer energy purchases, the nomination of 
transmission/distribution capacity, and/or the subscription to other 
services. CMI may also engage in any other activity CNS is permitted to 
engage in as a result of CNS' determination of ETC status.
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    \1\ FCC Release No. DA 96-1307 (August 15, 1996).
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    When CMI generates cash in excess of its immediate cash 
requirements, such temporary cash may, at CMI's option, be invested in 
the Money Pool. CMI would become a Money Pool investor pursuant to an 
Intra System Money Pool Evidence of Deposit.
    CMI may, from time-to-time, require short-term funds to meet normal 
working capital requirements. It is proposed that CMI would borrow such 
short-term funds from the Money Pool. The loans to CMI through the 
Money Pool will be made pursuant to a short term grid note. The short-
term grid notes will be due upon demand by the Money Pool investor(s), 
but in any event will be repaid prior to May 1 of the following 
calendar year after borrowing.
    The cost of money on all short-term advances and the investment 
rate for moneys invested in the Money Pool will be the interest rate 
per annum equal to the Money Pool's weighted average short-term 
investment rate and/or Columbia's short-term borrowing rate. Should 
there be no Money Pool investments or Columbia borrowings, the cost of 
money will be the prior month's average Federal Funds rate as published 
in the Federal Reserve Statistical Release, Publication H.15 (519). A 
default rate equal to 2% per annum above the pre-default rate on unpaid 
principal amounts will be assessed if any interest or principal payment 
becomes past due.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-16085 Filed 6-18-97; 8:45 am]
BILLING CODE 8010-01-M