[Federal Register Volume 65, Number 239 (Tuesday, December 12, 2000)]
[Notices]
[Pages 77693-77694]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-31471]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 33951]


Norfolk Southern Railway Co.--Corporate Family Transaction 
Exemption--Yadkin Railroad Co.

    Norfolk Southern Railway Company (NSR), a Class I rail carrier, has 
filed a notice of exemption to renew its lease \1\ and to operate 
approximately 30 miles of rail line owned by Yadkin Railroad Company 
(Yadkin), a Class III carrier and a subsidiary of NSR, located in the 
State of North Carolina.
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    \1\ NSR notes that the lease of the rail line by the Carolina 
and Northwestern Railway Company, a predecessor of NSR, was 
previously approved in Carolina & Northwestern Railway Company, 
Control, Etc., 282 I.C.C. 802 (1951). NSR further notes that the 
extension of the lease contemplated by the transaction in STB 
Finance Docket No. 33951 extends the term of the lease arrangement 
until 2025 with an optional 25-year extension thereafter.
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    The transaction is scheduled to be consummated prior to December 
31,

[[Page 77694]]

2000. The earliest the transaction can be consummated is December 7, 
2000, the effective date of the exemption (7 days after the exemption 
was filed).
    NSR has filed its notice of exemption under 49 CFR 1180.2(d)(3) as 
the proposed renewal of its lease with Yadkin is exempt because it is 
within the NSR corporate family and will not result in adverse changes 
in service levels, operational changes, or a change in the competitive 
balance with carriers outside the NSR corporate family.
    As a condition to this exemption, any employee affected by the 
transaction will be protected by the conditions imposed in Mendocino 
Coast Ry., Inc.--Lease and Operate, 354 I.C.C. 732 (1978), as modified 
in Mendocino Coast Ry., Inc.--Lease and Operate, 360 I.C.C. 653 (1980), 
aff'd sub nom. RLEA v. ICC, 675 F.2d 1248 (D.C. Cir. 1982).
    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. 33951, 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 pleading must be 
served on Maquiling B. Parkerson, Esq., Norfolk Southern Corporation, 
Three Commercial Place, Norfolk, VA 23510-2191.

    Decided: December 5, 2000.
By the Board, David M. Konschnik, Director, Office of Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 00-31471 Filed 12-11-00; 8:45 am]
BILLING CODE 4915-00-P