[Federal Register Volume 64, Number 178 (Wednesday, September 15, 1999)]
[Notices]
[Page 50121]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24035]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration; (Local Financial Corporation, Common Stock, $.01 Par 
Value) File No. 1-13949

September 9, 1999.
    Local Financial 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 security 
specified above (``Security'') from listing and registration on the 
American Stock Exchange LLC (``Amex'' or ``Exchange'').
    The reasons cited in the application for withdrawing the Security 
from listing and registration on the Amex include the following:
    The Security of the Company has been listed on the Amex since April 
22, 1998. The Company now believes that it might realize a more diverse 
ownership of its Security through the variety of market makers 
available on the NASDAQ National Market (``Nasdaq'') than through the 
auction system of the Exchange. On January 27, 1999, the company's 
Board of Directors voted to authorize the filing of applications to 
withdraw the Security from listing and registration on the Exchange and 
to have the Security quoted on the Nasdaq. Shares of the Security 
subsequently began trading on the Nasdaq on July 15, 1999.
    The Company has complied with the rules of the Amex by filing with 
the Exchange a certified copy of the resolutions adopted by the 
Company's Board of Directors authorizing the withdrawal of its Security 
from listing on the Amex and by setting forth in detail to the Exchange 
the reasons for the proposed withdrawal, and the facts in support 
thereof. In making the decision to withdraw its Security from listing 
on the Amex, the Company wished to avoid the duplicative costs 
associated with registering its Security for trading in two different 
markets. The Amex has informed the Company that it has no objection to 
the withdrawal of the Company's Security from listing and registration 
on the Exchange.
    The Company's application relates solely to the withdrawal of the 
Security from listing and registration on the Amex and shall have no 
effect upon the continued listing on the Amex of the Company's 11.0% 
Senior Notes due September 8, 2004. By reason of Sections 12(b) and (g) 
of the Act and the rules and regulations of the Commission thereunder, 
the Company shall continue to be obligated to file reports under 
Section 13 of the Act with the Commission.
    Any interested person may, on or before September 30, 1999, submit 
by letter to the Secretary of the Securities and Exchange Commission, 
450 Fifth Street, NW, Washington, DC 20549-0609, 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. 99-24035 Filed 9-14-99; 8:45 am]
BILLING CODE 8010-01-M