[Federal Register Volume 63, Number 69 (Friday, April 10, 1998)]
[Notices]
[Pages 17925-17926]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-9421]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board
[STB Finance Docket No. 33576]


Albany Bridge Company, Inc., Georgia & Florida Railroad Co., 
Inc., Gulf & Ohio Railways, Inc., Lexington & Ohio Railroad Co., Inc., 
Live Oak, Perry & Georgia Railroad Company, Inc., Piedmont & Atlantic 
Railroad Co., Inc., Rocky Mount & Western Railroad Co., Inc., Wiregrass 
Central Railroad Company, Inc.--Corporate Family Transaction 
Exemption--Gulf & Ohio Railways Holding Co., Inc.

    Albany Bridge Company, Inc., Georgia & Florida Railroad Co., Inc., 
Gulf & Ohio Railways, Inc., Lexington & Ohio Railroad Co., Inc., Live 
Oak, Perry & Georgia Railroad Company, Inc., Piedmont & Atlantic 
Railroad Co., Inc., Rocky Mount & Western Railroad Co., Inc., Wiregrass 
Central Railroad Company, Inc. (Railroad Companies), and Gulf & Ohio 
Railways Holding Co., Inc. (Holding Company) have filed a joint notice 
of exemption to undertake a corporate family transaction, which 
involves a transfer of ownership of the Railroad Companies from H. 
Peter Claussen and Linda C. Claussen, owners of all outstanding shares 
of stock in the Railroad Companies, to the Holding Company. The Holding 
Company will be wholly owned by H. Peter Claussen and Linda C. 
Claussen.
    The transaction was to be consummated on or after March 30, 1998.
    The purpose of the transaction is to eliminate administrative 
expenses associated with the continued maintenance of separate loans 
for each of the Railroad Companies.
    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 transaction will not result in adverse changes in 
service levels, significant operational changes or a change in the 
competitive balance with carriers operating outside the applicants' 
corporate family.
    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.

[[Page 17926]]

    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. 33576, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW 
Washington, DC 20423-0001 and served on: Jo A. DeRoche, Weiner, 
Brodsky, Sidman & Kider, P.C., Suite 800, 1350 New York Avenue, NW 
Washington, DC 20005-4797.

    Decided: April 1, 1998.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-9421 Filed 4-9-98; 8:45 am]
BILLING CODE 4915-00-P