64590 Federal Register / Vol. 62, No. 235 / Monday, December 8, 1997 / Notices

Regulation Group) 101 Market Street,

San Francisco, California 94105-1579:

1. First Security Corporation, Salt

Lake City, Utah; to merge with Rio

Grande Bancshares, Inc., Las Cruces,

New Mexico, and thereby indirectly

acquire First National Bank of Dona Ana

County, Las Cruces, New Mexico, and

First National Bank of Chaves County,

Roswell, New Mexico.

Board of Governors of the Federal Reserve

System, December 3, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–32055 Filed 12-5-97; 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 December 31, 1997.

A. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63102-

2034:

1. Bank of the Ozarks, Little Rock,

Arkansas; to acquire Heritage Banc

Holding, Inc., Little Rock, Arkansas, and

thereby indirectly acquire HEARTLAND

Community Bank, F.S.B., Little Rock,

Arkansas, and thereby engage in the

operation of a savings association,

pursuant to § 225.28(b)(4)(ii) of the

Board’s Regulation Y.

Board of Governors of the Federal Reserve

System, December 2, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–31948 Filed 12–5–97; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL TRADE COMMISSION

[File No. 971–0105]

The Dow Chemical Company; Analysis

To Aid Public Comment

AGENCY: Federal Trade Commission.

ACTION: Proposed consent agreement.

SUMMARY: The consent agreement in this

matter settles alleged violations of

federal law prohibiting unfair or

deceptive acts or practices or unfair

methods of competition. The attached

Analysis to Aid Public Comment

describes both the allegations in the

draft complaint that accompanies the

consent agreement and the terms of the

consent order—embodied in the consent

agreement—that would settle these

allegations.

DATES: Comments must be received on

or before February 6, 1998.

ADDRESSES: Comments should be

directed to: FTC/Office of the Secretary,

Room 159, 6th St. & Pennsylvania Ave.,

N.W., Washington, DC 20580.

FOR FURTHER INFORMATION CONTACT:

William Baer, Federal Trade

Commission, 6th & Pennsylvania Ave.,

N.W., H–374, Washington, DC 20580.

(202) 326–2932, or Howard Morse,

Federal Trade Commission, 6th &

Pennsylvania Ave., N.W., S–3627,

Washington, DC 20580. (202) 326–2949.

SUPPLEMENTARY INFORMATION: Pursuant

to Section 6(f) of the Federal Trade

Commission Act, 38 Stat. 721, 15 U.S.C.

46, and Section 2.34 of the

Commission’s Rules of Practice (16 CFR

2.34), notice is hereby given that the

above-captioned consent agreement

containing a consent order to cease and

desist, having been filed with and

accepted, subject to final approval, by

the Commission, has been placed on the

public record for a period of sixty (60)

days. The following Analysis to Aid

Public Comment describes the terms of

the consent agreement, and the

allegations in the accompanying

complaint. An electronic copy of the

full text of the consent agreement

package can be obtained from the

Commission Actions section of the FTC

Home Page (for November 28, 1997), on

the World Wide Web, at ‘‘http://

www.ftc.gov/os/actions97.htm.’’ A

paper copy can be obtained from the

FTC Public Reference Room, Room H–

130, Sixth Street and Pennsylvania

Avenue, N.W., Washington, DC 20580,

either in person or by calling (202) 326–

3627. Public comment is invited. Such

comments or views will be considered

by the Commission and will be available

for inspection and copying at its

principal office in accordance with

Section 4.9(b)(6)(ii) of the Commission’s

Rules of Practice (16 CFR 4.9(b)(6)(ii)).

Analysis of Proposed Consent Order to

Aid Public Comment

The Federal Trade Commission

(‘‘Commission’’) has accepted, subject to

final approval, an Agreement

Containing Consent Order

(‘‘Agreement’’) from The Dow Chemical

Company.

The proposed Order has been placed

on the public record for sixty (60) days

for reception of comments by interested

persons. Comments received during this

period will become part of the public

record. After sixty (60) days, the

Commission will again review the

Agreement and the comments received

and will decide whether it should

withdraw from the Agreement or make

final the Agreement’s proposed Order.

The Dow Chemical Company, a

Midland, Michigan based company and

producer of chemicals, plastics, and

agricultural and consumer products,

announced on August 5, 1997, a cash

tender offer to acquire all of the share

of Sentrachem Limited, a South African

chemical company that operates in the

U.S. through its wholly-owned

subsidiary, Hampshire Chemical

Company, Hampshire and Dow, through

its Chemical Division, produce

aminopolycarboxylic chelating agents,

also known as chelants. Hampshire

produces chelants in Nashua, New

Hampshire and Deer Park, Texas, and

chelant intermediates in Lima, Ohio.

Dow produces chelants in Freeport,

Texas.

The proposed administrative

complaint alleges that the proposed

acquisition may substantially lessen

competition in the research,

development, manufacture, and sale of

chelants, which are chemicals used in

cleaners, pulp and paper, water

treatment, photography, agriculture, and

food and pharmaceutical applications to

neutralize and inactivate metal ions.

The proposed complaint alleges that the

United States is the relevant geographic

market for evaluating the acquisition’s

effect on chelants because the shipping

costs of chelants, which are sold mostly

in a liquid solution, are high and there

are too many uncertainties and delays

inherent in long distance shipping.

The proposed complaint alleges that

Hampshire and Dow are the two leading