[Federal Register Volume 64, Number 6 (Monday, January 11, 1999)]
[Notices]
[Page 1645]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-472]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26964]


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

January 5, 1999.
    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 under the Act. 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 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 January 26, 1999, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549, and serve a copy on the relevant 
applicant(s) 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 
should 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 January 26, 1999, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

New England Electric System (70-9417)

    New England Electric System (``NEES''), 25 Research Drive, 
Westborough, Massachusetts 01582, a registered holding company, has 
filed an application under sections 9(a) and 10 of the Act and rule 54 
under the Act.
    NEES proposes to form one or more new special purpose subsidiaries 
to acquire interests in office and warehouse space (``Real Estate 
Interests'') that would be leased only to associate companies for their 
business purposes. All leases of Real Estate Interests will comply with 
rules 87, 90 and 91 under the Act.
    NEES currently contemplates indirectly acquiring two facilities 
(``Facilities''), currently leased under long-term lease agreements 
(``Agreements'') to two NEES subsidiaries, from John Hancock Life 
Insurance Company (``Owner''). The first Facility, consisting of office 
and warehouse space and adjacent real estate, is under lease to 
Massachusetts Electric Company (``MEC''), an electric utility 
subsidiary company of NEES. The second Facility, consisting of an 
office complex that serves as NEES' headquarters and adjacent real 
estate, is under lease to New England Power Service Company (``Service 
Company''), a service company subsidiary of NEES. After its acquisition 
from the Owner, each Facility will be leased back to MEC or the Service 
Company, as the case may be, for the remainder of the term provided for 
in the Agreement for that Facility and under the same terms and 
conditions.

    For the Commission by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-472 Filed 1-8-99; 8:45 am]
BILLING CODE 8010-01-M