[Federal Register Volume 63, Number 65 (Monday, April 6, 1998)]
[Notices]
[Page 16832]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-8926]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration (Federal-Mogul Corporation, Common Stock, No Par 
Value); File No. 1-1511

March 31, 1998.
    Federal-Mogul Corporation (``Company'') has filed an application 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and 
Rule 12d2-2(d) promulgated thereunder, to withdraw the above specified 
security (``Security'') from listing and registration on the Pacific 
Exchange, Inc. (``Exchange'' or ``PCX'').
    The reasons cited in the application for withdrawing the Security 
from listing and registration include the following:
    The Security also is listed for trading on the New York Stock 
Exchange, Inc. (``NYSE'').
    The Company has represented that the volume of trading in the 
Security conducted on the PCX is minimal compared to the volume of 
trading in the Security conducted on the NYSE. According to the 
Company, the total number of shares of the Security traded on the PCX 
in 1997 (611,896) represents less than three days of trading volume in 
the Security on the NYSE. The Company also stated that large holders of 
the Security located on the west coast do not use the PCX to trade the 
Security. Finally, the Company represented that the extra work 
performed by the Company's investor relations and legal departments in 
relation to the Security's listing on the PCX is not justified by the 
benefits of such listing.
    At its meeting held on February 4, 1998, the Company's Board of 
Directors authorized the Company's management to proceed with the 
voluntary delisting of the Security from the Exchange.
    In its letter dated March 4, 1998, the Exchange informed the 
Company that it would not object to the withdrawal of the Security from 
listing and registration on the Exchange.
    The Company has represented that the Security will continue to be 
listed for trading on the NYSE.
    Any interested person may, on or before April 17, 1998, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, N.W., Washington, D.C. 20549, facts bearing upon whether 
the application has been made in accordance with the rules of the 
Exchange and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-8926 Filed 4-3-98; 8:45 am]
BILLING CODE 8010-01-M