[Federal Register Volume 73, Number 144 (Friday, July 25, 2008)]
[Notices]
[Page 43486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-16838]


-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 35100]


Waterloo Railway Company--Intra-Corporate Family Exemption--
Illinois Central Railroad Company

    Waterloo Railway Company (Waterloo), a Class III rail common 
carrier, has filed a verified notice of exemption under 49 CFR 
1180.2(d)(3) for a transaction within a corporate family. The 
transaction involves Waterloo's acquisition of a rail line owned by 
Illinois Central Railroad Company (IC),\1\ a Class I rail common 
carrier, extending from milepost 72.48 near Woolworth, MS, to milepost 
76.8 near Carlos, MS, a distance of approximately 4.32 miles. IC will 
retain local and overhead trackage rights over the acquired line in 
order to serve any future industries that may locate on the line, and 
will continue to use the line to access IC's rail lines extending 
eastward to Wanilla, MS, and westward to Brookhaven, MS.
---------------------------------------------------------------------------

    \1\ Waterloo is a wholly owned direct subsidiary of IC, which in 
turn is indirectly controlled by Canadian National Railway Company 
(CN).
---------------------------------------------------------------------------

    The transaction is expected to be consummated on or shortly after 
August 11, 2008.
    Waterloo states that this is an intra-corporate transaction that 
involves the transfer of ownership of a short rail line from one CN-
controlled subsidiary to another, and will not result in adverse 
changes in service levels, significant operational changes, or a change 
in the competitive balance with carriers outside the corporate family. 
Therefore, the transaction is exempt from the prior approval 
requirements of 49 U.S.C. 11323. See 49 CFR 1180.2(d)(3).
    As a condition to the use of this exemption, any employees 
adversely affected by this transaction will be protected by the 
conditions set forth in New York Dock Ry.--Control--Brooklyn Eastern 
Dist., 360 I.C.C. 60 (1979).
    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. Petitions for stay 
will be due no later than August 1, 2008 (at least 7 days before the 
effective date of the exemption).
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 35100, must be filed with the Surface Transportation 
Board, 395 E Street, SW., Washington, DC 20423-0001. In addition, one 
copy of each pleading must be served on Thomas J. Litwiler, 29 North 
Wacker Drive, Suite 920, Chicago, IL 60606.
    Board decisions and notices are available on our Web site at 
www.stb.dot.gov.

    Decided: July 17, 2008.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Anne K. Quinlan,
Acting Secretary.
[FR Doc. E8-16838 Filed 7-24-08; 8:45 am]
BILLING CODE 4915-01-P