[Federal Register Volume 63, Number 134 (Tuesday, July 14, 1998)]
[Notices]
[Pages 37932-37933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-18568]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board
[STB Finance Docket No. 33625]


North American RailNet, Inc.--Continuance in Control Exemption--
Mississippi & Tennessee RailNet, Inc

    North American RailNet, Inc. (NARN), has filed a verified notice of 
exemption to continue in control of Mississippi & Tennessee RailNet, 
Inc. (MTRN), upon MTRN becoming a Class III railroad.
    The transaction was scheduled to be consummated on or shortly after 
June 26, 1998.
    This transaction is related to STB Finance Docket No. 33624, 
Mississippi & Tennessee RailNet, Inc.--Acquisition and Operation 
Exemption--The Kansas City Southern Railway Company, wherein MTRN seeks 
to acquire and operate a rail line from The Kansas City Southern 
Railway Company.
    NARN controls three existing Class III railroads; Nebraska, Kansas 
& Colorado RailNet, Inc., operating in Nebraska, Kansas, and Colorado; 
Illinois RailNet, Inc., operating in Illinois; and Camas Prairie 
RailNet, Inc., operating in Mississippi and Tennessee.
    NARN states that: (i) The rail lines operated by MTRN do not 
connect with any railroad in the corporate family; (ii) the transaction 
is not part of a series of anticipated transactions that would connect 
MTRN's lines with any railroad in the corporate family; and (iii) the 
transaction does not involve a Class I carrier. Therefore, the 
transaction is

[[Page 37933]]

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 verified 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. 33625, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Unit, 1925 K Street, NW, 
Washington, DC 20423-0001. In addition, a copy of each pending must be 
served on Robert A. Wimbish, Esq., Rea, Cross, & Auchincloss, 1707 L 
Street, NW, Suite 570, Washington, DC 20036.
    Board decisions and notices are available on our website at 
``WWW.STB.DOT.GOV.''

    Decided: July 6, 1998.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 98-18568 Filed 7-13-98; 8:45 am]
BILLING CODE 4915-00-M