[Federal Register Volume 63, Number 54 (Friday, March 20, 1998)]
[Notices]
[Page 13721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-7120]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board
[STB Finance Docket No. 33564]


TNW Corporation--Continuance in Control Exemption--Texas Rock 
Crusher Railway Company

    TNW Corporation (TNW), a noncarrier shortline railroad holding 
company, has filed a notice of exemption to continue in control of 
Texas Rock Crusher Railway Company (TXRC), upon TXRC's becoming a 
carrier. TNW owns all of the outstanding stock of TXRC.
    The earliest the transaction could be consummated was March 6, 
1998, the effective date of the exemption (7 days after the notice of 
exemption was filed).
    This transaction is related to STB Finance Docket No. 33563, Texas 
Rock Crusher Railway Company--Acquisition and Operation Exemption--The 
Burlington Northern and Santa Fe Railway Company, wherein TXRC seeks to 
acquire and operate two adjacent but disconnected lines from The 
Burlington Northern and Santa Fe Railway Company.
    TNW owns and controls three existing Class III rail carriers: Texas 
North Western Railway Company, operating in the State of Texas; Texas, 
Gonzales & Northern Railway Company, operating in the State of Texas; 
and Nebraska Northeastern Railway Company, operating in the State of 
Nebraska.
    TNW states that: (i) the railroads will not connect with each other 
or any railroad in their corporate family; (ii) the continuance in 
control is not part of a series of anticipated transactions that would 
connect the four railroads with each other or any railroad in their 
corporate family; and (iii) the transaction does not involve a Class I 
carrier. Therefore, the transaction is exempt from the prior approval 
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(2).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under sections 11324 
and 11325 that involve only Class III rail carriers. Because this 
transaction involves Class III rail carriers only, the Board, under the 
statute, may not impose labor protective conditions for this 
transaction.
    If the notice contains false or misleading information, the 
exemption is void ab initio. Petitions 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. 33564, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, N.W., 
Washington, DC 20423-0001. In addition, a copy of each pleading must be 
served on John D. Heffner, Esq., Rea, Cross & Auchincloss, 1707 L 
Street, N.W., Suite 570, Washington, DC 20036.

    Decided: March 12, 1998.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-7120 Filed 3-19-98; 8:45 am]
BILLING CODE 4915-00-P