43532 Federal Register / Vol. 62, No. 157 / Thursday, August 14, 1997 / Notices

FEDERAL RESERVE SYSTEM

Change in Bank Control Notices;

Acquisitions of Shares of Banks or

Bank Holding Companies

The notificants listed below have

applied under the Change in Bank

Control Act (12 U.S.C. 1817(j)) and §

225.41 of the Board’s Regulation Y (12

CFR 225.41) to acquire a bank or bank

holding company. The factors that are

considered in acting on the notices are

set forth in paragraph 7 of the Act (12

U.S.C. 1817(j)(7)).

The notices are available for

immediate inspection at the Federal

Reserve Bank indicated. The notices

also will be available for inspection at

the offices of the Board of Governors.

Interested persons may express their

views in writing to the Reserve Bank

indicated for that notice or to the offices

of the Board of Governors. Comments

must be received not later than August

28, 1997.

A. Federal Reserve Bank of Chicago

(Philip Jackson, Applications Officer)

230 South LaSalle Street, Chicago,

Illinois 60690-1413:

1. Sam J. Jacobsen, Middleton,

Wisconsin; to acquire an additional 15

percent, for a total of 17.65 percent, of

the voting shares of First Business

Bancshares, Madison, Wisconsin, and

thereby indirectly acquire First Business

Bank, Madison, Wisconsin.

B. Federal Reserve Bank of Dallas

(Genie D. Short, Vice President) 2200

North Pearl Street, Dallas, Texas 75201-

2272:

1. W. Allen Gage, Houston, Texas; to

acquire an additional 21.90 percent, for

a total of 33.93 percent, of the voting

shares of First Bancshares of Texas, Inc.,

Houston, Texas, and thereby indirectly

acquire First Bank of Texas, Tomball,

Texas.

Board of Governors of the Federal Reserve

System, August 8, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–21455 Filed 8–13–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Change in Bank Control Notices;

Acquisitions of Shares of Banks or

Bank Holding Companies

The notificants listed below have

applied under the Change in Bank

Control Act (12 U.S.C. 1817(j)) and §

225.41 of the Board’s Regulation Y (12

CFR 225.41) to acquire a bank or bank

holding company. The factors that are

considered in acting on the notices are

set forth in paragraph 7 of the Act (12

U.S.C. 1817(j)(7)).

The notices are available for

immediate inspection at the Federal

Reserve Bank indicated. The notices

also will be available for inspection at

the offices of the Board of Governors.

Interested persons may express their

views in writing to the Reserve Bank

indicated for that notice or to the offices

of the Board of Governors. Comments

must be received not later than August

29, 1997.

A. Federal Reserve Bank of Chicago

(Philip Jackson, Applications Officer)

230 South LaSalle Street, Chicago,

Illinois 60690-1413:

1. E. David Locke, McFarland,

Wisconsin; to acquire an additional 15.3

percent, for a total of 64.5 percent, of the

voting shares of Northern Bancshares,

Inc., McFarland, Wisconsin, and thereby

indirectly acquire McFarland State

Bank, McFarland, Wisconsin.

Board of Governors of the Federal Reserve

System, August 11, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–21579 Filed 8–13–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Notice of Proposals to Engage in

Permissible Nonbanking Activities or

to Acquire Companies that are

Engaged in Permissible Nonbanking

Activities

The companies listed in this notice

have given notice under section 4 of the

Bank Holding Company Act (12 U.S.C.

1843) (BHC Act) and Regulation Y, (12

CFR Part 225) to engage de novo, or to

acquire or control voting securities or

assets of a company that engages either

directly or through a subsidiary or other

company, in a nonbanking activity that

is listed in § 225.28 of Regulation Y (12

CFR 225.28) or that the Board has

determined by Order to be closely

related to banking and permissible for

bank holding companies. Unless

otherwise noted, these activities will be

conducted throughout the United States.

Each notice is available for inspection

at the Federal Reserve Bank indicated.

The notice also will be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether the proposal complies

with the standards of section 4 of the

BHC Act.

Unless otherwise noted, comments

regarding the applications must be

received at the Reserve Bank indicated

or the offices of the Board of Governors

not later than August 28, 1997.

A. Federal Reserve Bank of New

York (Betsy Buttrill White, Senior Vice

President) 33 Liberty Street, New York,

New York 10045-0001:

1. Canadian Imperial Bank of

Commerce, Toronto, Canada (‘‘CIBC’’),

to acquire through its wholly owned

subsidiary, CIBC Wood Gundy

Securities Corp. (‘‘CIBC Wood Gundy’’),

New York, New York, all the

outstanding shares of Oppenheimer

Holdings, Inc., New York, New York,

and its subsidiaries, including

Oppenheimer & Co., Inc., New York,

New York, and thereby engage

worldwide in certain nonbanking

activities. CIBC proposes to engage in

underwriting and dealing to a limited

extent in all types of equity and debt

securities that a state member bank may

not underwrite and deal in (‘‘bankineligible securities’’), except ownership

interests in open-end investment

companies, see Canadian Imperial Bank

of Commerce, 76 Fed. Res. Bull. 158

(1990) and J.P. Morgan & Co., Inc., 75

Fed. Res. Bull. 192 (1989); in making

loans or other extensions of credit,

pursuant to § 225.28(b)(1) of the Board’s

Regulation Y (12 CFR 225.28(b)(1)); in

activities related to extending credit,

pursuant to § 225.28(b)(2) of the Board’s

Regulation Y (12 CFR 225.28(b)(2)); in

providing financial and investment

advisory services, pursuant to §

225.28(b)(6) of the Board’s Regulation Y

(12 CFR 225.28(b)(6)); in providing

securities brokerage, riskless principal,

private placement, futures commission

merchant, and other agency

transactional services, pursuant to

section § 225.28(b)(7) of the Board’s

Regulation Y (12 CFR 225.28(b)(7)); and

in underwriting and dealing in

government obligations and money

market instruments (‘‘bank-eligible

securities’’), providing investing and

trading services, and buying and selling

bullion and related activities, pursuant

to § 225.28(b)(8) of the Board’s

Regulation Y (12 CFR 225.28(b)(8)).

In addition, CIBC proposes to

establish and control numerous

domestic and foreign private investment

limited partnerships (‘‘Partnerships’’).

CIBC Wood Gundy, its affiliates, or its

subsidiaries would serve as general

partner, or would participate with

unaffiliated investment advisers in joint

ventures that would serve as general

partner, to the Partnerships. CIBC Wood

Gundy, its affiliates, and its

subsidiaries, either directly or through

joint venture arrangements, also would

provide administrative and investment

advisory services to the Partnerships. To

serve as general partner, CIBC Wood