[Federal Register Volume 62, Number 23 (Tuesday, February 4, 1997)]
[Notices]
[Page 5273]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-2697]


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DEPARTMENT OF TRANSPORTATION
[STB Finance Docket No. 33332] <SUP>1


Summit View Incorporated--Corporate Family Exemption--Continuance 
in Control of the Youngstown Belt Railroad Company

    Summit View Incorporated (Summit) has filed a notice of exemption 
to continue in control of its subsidiary, The Youngstown Belt Railroad 
Company (YBRR), upon YBRR's becoming a Class III rail carrier. The 
transaction was to have been consummated shortly after December 31, 
1996, the effective date of the exemption.
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    \1\  This notice corrects and supersedes the notice in this 
proceeding that was served on January 24, 1997, and published the 
same date at 62 FR 3735.
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    YBRR, a noncarrier, has concurrently filed a notice of exemption in 
The Youngstown Belt Railroad Company--Lease and Operation Exemption--
Warren & Trumbull Railroad Company, STB Finance Docket No. 33333, to 
lease and operate approximately 12.9 miles of rail line, together with 
incidental trackage rights, owned by another Summit subsidiary, The 
Warren and Trumbull Railroad Company (WTRC); and (2) to acquire and 
operate 2.4 miles of connected rail line owned by CSX Transportation, 
Inc. (CSXT) via simultaneous assignment of WTRC's rights under a Track 
Lease/Operating Agreement with CSXT, a total of 15.3 miles of rail 
line, exclusive of the incidental trackage rights, located in Mahoning 
and Trumbull Counties, OH.
    Summit controls four other nonconnecting Class III rail carriers: 
the Ohio & Pennsylvania Railroad Company; the Ohio Central Railroad, 
Inc.; the Ohio Southern Railroad, Inc.; and the Youngstown & Austintown 
Railroad, Inc.
    Summit has filed its notice of exemption under 49 CFR 1180.2(d)(3) 
as the proposed continuance in control is a corporate family 
transaction. Summit states that: Summit, YBRR and WTRC are members of 
the same corporate family; and that the transactions involved will not 
result in any adverse changes in service levels, significant 
operational changes, or a change in the competitive balance with 
carriers outside Summit's corporate family. The transaction therefore 
is exempt from the prior approval requirements of 49 U.S.C. 11323. See 
49 CFR 1180.2(d)(3).
    Under 49 U.S.C. 10502(g), the Board may not use its exemption 
authority to relieve a rail carrier of its statutory obligation to 
protect the interests of its employees. Section 11326(c), however, does 
not provide for labor protection for transactions under sections 11324 
and 11325 that involve only Class III railroad carriers. Because this 
transaction involves Class III rail carriers only, the Board, under the 
statute, may not impose labor protective conditions for this 
transaction.
    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. 33332, must be filed with the Surface Transportation 
Board, Office of the Secretary, Case Control Branch, 1201 Constitution 
Avenue, N.W., Washington, DC 20423 and served on: Kelvin J. Dowd, 
Slover & Loftus, 1224 Seventeenth Street, N.W., Washington, DC 20036.

    Decided: January 29, 1997.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 97-2697 Filed 2-3-97; 8:45 am]
BILLING CODE 4915-00-P