47718 Federal Register / Vol. 62, No. 175 / Wednesday, September 10, 1997 / Notices

14At the same time, it should be noted that the

Commission has previously stated that a specialist

can utilize the conversion process to enable the

percentage order and the specialist trading for his

or her own account to receive an execution while

bypassing pre-existing trading crowd and limit

order book interest. See SEC, Report on the Practice

of Preferencing (April 11, 1997) at Part II.B.6.

15See Securities Exchange Act Release No. 24505,

supra note 11.

16 15 U.S.C. 78s(b)(2).

17 17 CFR 200.30–3(a)(12).

such converted percentage orders from

the book when conditions strongly

indicate that the market has moved

away from the conversion price.14

Moreover, the Commission finds that

the proposal may have the additional

beneficial effect of increasing the

transparency of the market. Specifically,

the proposal will allow percentage

orders to buy (sell) to remain on the

book in the event of the entry of what

may be a short-lived higher bid (lower

offer) instead of reverting directly to a

memorandum entry that the specialist

may or may not decide to re-convert for

quotation purposes.

Moreover, in approving the adoption

of the CAP–D instruction, the

Commission stated that it ‘‘views as

important the cancellation provision of

the proposed bettering the market

rule.’’ 15 The significance of such a

provision is to provide a cancellation

mechanism that does not grant any

discretion to the specialist when

superior-priced same-sided interest

enters the market. Accordingly, the

Commission believes that the proposed

procedure is an appropriate replacement

for the existing cancellation provision in

that it serves this same purpose.

Finally, the Exchange proposes to add

to Rule 123A.30 a provision that a

specialist must document the status of

a converted percentage order on his or

her book as a limit order at the price it

was converted. The Commission finds

that this provision is appropriate in that

it provides specialists with a clearer

statement of their existing responsibility

to book converted percentage orders.

IV. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,16 that the

proposed rule change (SR–NYSE–96–

16) is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.17

Margaret H. McFarland,

Secretary.

[FR Doc. 97–23955 Filed 9–9–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Reports, Forms and Recordkeeping

Requirements Agency Information

Collection Activity Under OMB Review

AGENCY: Office of the Secretary, DOT.

ACTION: Notice and request for

comments.

SUMMARY: In compliance with the

Paperwork Reduction Act of 1995 (44

U.S.C. 3501 et seq.), this notice

announces that the Information

Collection(ICR) abstracted below has

been forwarded to the Office of

Management and Budget (OMB) for

review and comment. The ICRs

describes the nature of the information

collection and their expected burden.

The Federal Register Notice with a 60-

day comment period soliciting

comments on the following collection of

information was published on March

17, 1997 [62 FR 12577–12678].

DATES: Comments must be submitted on

or before October 10, 1997.

FOR FURTHER INFORMATION CONTACT:

Judith Street, ABC–100; Federal

Aviation Administration; 800

Independence Avenue SW.,

Washington, DC 20591, telephone

number (202) 267–9895.

SUPPLEMENTARY INFORMATION:

Federal Aviation Administration (FAA)

Title: Pilot Records Improvement Act

of 1996.

OMB Control Number: 2120–0607.

Type of Request: Extension of a

currently approved collection.

Affected Public: Air Carriers gathering

data on perspective pilots and the

airmen/pilots applying for positions

with the air carriers.

Abstract: Section 502 of the Pilot

Records Improvement Act of 1996,

Public Law 104–264, requires that an air

carrier (as defined in 49 U.S.C.

40102(a)(2)), before hiring an individual

as a pilot, request and receive FAA

Records, Air Carrier and other records,

and National Driver Register Records

concerning that individual. The

Administrator was directed to

promulgate standard forms for use by air

carriers in requesting those Pilot

Records. Upon receipt of any requested

records, an air carrier Amay use such

records only to assess the qualifications

of the individual in deciding whether or

not to hire the individual as a pilot.A

(Section 502(f)(11) of the Pilot Records

Improvement Act of 1996, Pub. L. 104–

264.)

Need: An air carrier may use the FAA

forms (numbers TBD) to request the

records of all applicants for the position

of pilot. The information collected on

the forms will be used to facilitate

search and retrieval of the requested

records. Air carriers then may use the

records to assess the qualifications of

the individual in deciding whether or

not to hire the individual as a pilot.

Estimated Annual Burden Hours:

5,899 hours.

Addressee: Send comments to the

Office of Information and Regulatory

Affairs, Office of Management and

Budget, 725–17th Street, NW.,

Washington, DC 20503, Attention DOT

Desk Officer.

Comments are Invited on: whether the

proposed collection of information is

necessary for the proper performance of

the functions of the Department,

including whether the information will

have practical utility; the accuracy of

the Department’s estimate of the burden

of the proposed information collection;

ways to enhance the quality, utility and

clarity of the information to be

collected; and ways to minimize the

burden of the collection of information

on respondents, including the use of

automated collection techniques or

other forms of information technology.

Issued in Washington, DC on September 4,

1997.

Vanester M. Williams,

Clearance Officer, United States Department

of Transportation.

[FR Doc. 97–23945 Filed 9–9–97; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

Petitions for Waivers of Compliance

In accordance with Part 211 of Title

49 Code of Federal Regulations (CFR),

notice is hereby given that the Federal

Railroad Administration (FRA) received

requests for waivers of compliance with

certain requirements of its safety

standards. The individual petitions are

described below, including the parties

seeking relief, the regulatory provisions

involved, the nature of the relief being

requested, and the petitioner’s

arguments in favor of relief.

Long Island Rail Road (Waiver Petition

Docket Number LI–97–2)

The Long Island Rail Road (LIRR)

seeks a waiver of compliance from

certain provisions of the Railroad

Locomotive Safety Standards, 49 CFR

229.29, for its M–1 and M–3 type MU

locomotives. Specifically, LIRR wants to

extend the required time intervals for

cleaning, repairing, and testing of MU
Federal Register / Vol. 62, No. 175 / Wednesday, September 10, 1997 / Notices 47719

locomotive brake equipment from 736

days to 1104 days.

Based on the results of Metro-North

Railroad’s (Metro-North) recently

concluded test program, LIRR concurs

with Metro-North’s position that the test

results demonstrate that extending the

clean, oil, test, and stencil time interval

to three years on MU locomotives can be

accomplished without compromising

brake and train/rail safety. LIRR

declares that their railroad and MetroNorth are sister agencies of the

Metropolitan Transportation Authority

of New York State, and that both

railroads operate M–1 and M–3 MU type

locomotives using identical WABCO

RT–5A electro-pneumatic brake systems

which perform in similar type service.

Like Metro-North, LIRR’s MU

locomotive fleet is 100 percent air-dryer

equipped. LIRR states that it uses one of

the most efficient and effective air

dryer/filtration systems available today,

the Salem 976 Twin Tower, which

greatly enhances the long-term

reliability of the pneumatic components

of the air brake system by virtually

eliminating the introduction of water,

oil, and other contaminates into the

brake system.

Golden Gate Railroad Museum (Waiver

Petition Docket Number LI–97–3)

The Golden Gate Railroad Museum

(GGRM) seeks a waiver of compliance

from 49 CFR 230.108(b), which requires

that the entire surface of the main air

reservoirs be hammer tested not less

than once every 18 months, for its steam

locomotive ι2472. GGRM would like to

substitute ultrasonic testing of the

reservoir at the time of hydrostatic

testing, at least every 12 months. GGRM

feels that ultrasonic testing will provide

a more accurate evaluation of the

reservoir’s condition than hammer

testing.

Mid-Continent Railway Historical

Society, Incorporated (Waiver Petition

Docket Number LI–97–4)

The Mid-Continent Railway Historical

Society, Incorporated (MCRY) seeks a

waiver of compliance from 49 CFR

230.110, which requires a steam

locomotive’s distributing or control

valves, reducing valves, triple valves,

straight-air double-check valves, and

dirt collectors be cleaned as often as

conditions require, but not less

frequently than once every six months.

MCRY requests that the requirement be

extended to 12 months for steam

locomotives MCRY 1385, a 4–6–0 built

in 1907 by the American Locomotive

Company, and MCRY 7, a 2–8–2 built in

1912 by Baldwin Locomotive Company.

MCRY indicates that it operates the

steam locomotives a total of seven

months a year, including three days in

the month of February.

Private Car ‘‘Colonial Crafts’’ (Waiver

Petition Docket Number PB–97–9)

Rod and Ellen Fishburn seeks a

waiver of compliance from certain

sections of the Railroad Power Brakes

and Drawbars Regulations, 49 CFR Part

232, regarding the private passenger

coach they own called Colonial Crafts,

PPCX 800061. In 1995, FRA granted the

National Railroad Passenger Corporation

(Amtrak) a waiver (Waiver Petition

Docket Number PB–94–3) extending the

frequency for the cleaning, oiling,

testing and stenciling (COT&S) of

passenger cars equipped with 26–C

brake equipment from the required 36

months to 48 months. The Fishburns

request that PPCX 800061 be under the

maintenance conditions set forth in

Waiver Docket Number PB–94–3. This

would include a COT&S be performed

as often as necessary to maintain the car

in a safe and suitable condition for

service, but not less frequently than

once each 48 months. It would also

require a single car test be performed on

the car each time it is on a repair track,

but not less frequently than once each

12 months.

The Fishburns declare that PPCX

800061 is maintained in accordance

with Amtrak’s standard maintenance

procedures and is inspected annually by

Amtrak inspectors.

Lewis and Clark Railway Company

(Waiver Petition Docket Number

RSGM–96–7)

The Lewis and Clark Railway

Company seeks a waiver of compliance

from 49 CFR 223.11(c), which requires

that locomotives built or rebuilt prior to

July 1, 1980, be equipped with certified

glazing in all locomotive cab windows.

The Lewis and Clark Railway Company

requests a permanent waiver of

compliance for two locomotives, LINC

#81, built by Electro Motive Division

(EMD) in 1954; and LINC #82, built by

EMD in 1953, which were never

equipped with certified glazing. The

locomotives are utilized in passenger

excursion and limited freight service.

They are operated 30 miles between

Chelatchie and Vancouver, Washington,

and 3 miles on the Rey Branch—a

section of the Burlington Northern Santa

Fe—in the state of Washington at a

speed not in excess of 15 mph.

Madison Railroad (Waiver Petition

Docket Number RSGM–96–14)

The Madison Railroad (CMPA) seeks

a waiver of compliance from 49 CFR

223.11(c) which requires that

locomotives built or rebuilt prior to July

1, 1980, be equipped with certified

glazing in all locomotive cab windows

and 49 CFR 223.13 (a) and (b) which

requires cabooses other than yard

cabooses be equipped with FRA Type I

glazing in forward and rearward

locations, and side facing be equipped

with glazing that meets the

requirements of FRA Type II. CMPA

requests a permanent waiver of

compliance for one locomotive, CMPA

2013, built by Electro Motive Division

locomotive works in 1951, which was

never equipped with certified glazing

and a caboose built between 1970–1977

by the Canadian National Railway and

never equipped with FRA Type glazing.

The Madison Railroad operates a twenty

five mile short line. The locomotive will

be utilized in freight service at speeds

not to exceed 10 mph. The caboose is

utilized as an office and is sometimes

used as an inspection car.

Interested parties are invited to

participate in these proceedings by

submitting written views, data, or

comments. FRA does not anticipate

scheduling a public hearing in

connection with these proceedings since

the facts do not appear to warrant a

hearing. If any interested party desires

an opportunity for oral comment, they

should notify FRA, in writing, before

the end of the comment period and

specify the basis for their request.

All communications concerning these

proceedings should identify the

appropriate docket number (e.g., Waiver

Petition Docket Number LI–97–2) and

must be submitted in triplicate to the

Docket Clerk, Office of Chief Counsel,

FRA, Nassif Building, 400 Seventh

Street, S.W., Mail Stop 10, Washington,

D.C. 20590. Communications received

within 45 days of the date of this notice

will be considered by FRA before final

action is taken. Comments received after

that date will be considered as far as

practicable. All written communications

concerning these proceedings are

available for examination during regular

business hours (9:00 a.m.–5:00 p.m.) at

FRA’s temporary docket room located at

1120 Vermont Avenue, N.W., Room

7051, Washington, D.C. 20005.

Issued in Washington, D.C. on September

2, 1997.

Grady C. Cothen, Jr.,

Deputy Associate Administrator for Safety

Standards and Program Development.

[FR Doc. 97–23866 Filed 9–9–97; 8:45 am]

BILLING CODE 4910–06–P