64462 Federal Register / Vol. 65, No. 209 / Friday, October 27, 2000 / Notices

6EPMC is already authorized to engage in

wholesale and retail energy marketing activities

throughout the United States. See Entergy Corp.,

HCAR No. 26812 (January 6, 1998).

7Entergy and certain of its nonutility subsidiaries

are already authorized, through December 31, 2005,

to issue up to $2 billion in guarantees and other

forms of credit support to or for the benefit of

certain subsidiaries and affiliates, respectively. See

Entergy Corp., HCAR No. 27216 (August 21, 2000).

8Entergy and its nonutility subsidiaries are

already authorized to declare and pay dividends out

of capital and unearned surplus through December

31, 2002. See Entergy Corp., HCAR No. 27039 (June

22, 1999).

9These limitations were imposed in Entergy

Corp., HCAR No. 27039 (June 22, 1999).

1Under the terms of the most recent order in this

file, AEP was allowed to issue up to 54 million

shares of its common stock through December 31,

2000. See American Electric Power, HCAR No.

26553 (August 13, 1996). In an order authorizing

AEP to acquire all of the outstanding common stock

of Cental and South West Corporation, a registered

holding company, the authority of the CSW

Dividend Reinvestment and Stock Purchase Plan

was terminated and AEP was authorized to issue an

additional 1.2 million shares of its common stock

under the DRP through December 31, 2000, for an

aggregate of 55.2 million shares. See American

Electric Power, HCAR No. 27186 (June 14, 2000).

will be applied against the Investment

Limitation. Entergy states that if its

common stock is used as consideration

to acquire Energy-Related Assets or

Energy-Related Securities, the market

value of the stock on the date of

issuance will be counted against the

Investment Limitation.

Entergy also requests authority to

expand the energy marketing and

brokering activities of Trading Company

and of any other energy marketing

affiliate that may be formed or acquired

by Entergy-Koch to include the

marketing and brokering of energy

commodities outside the United States.6

To finance these energy-related

activities, Entergy requests authority for

Entergy-Koch to issue up to an

additional $2 billion (‘‘Guarantee

Limitation’’) in guarantees and other

forms of credit support not exempt

under rules 45 and 52 under the Act,

through December 31, 2005, on behalf or

for the benefit of its direct and indirect

subsidiaries.7 Entergy states that all

credit support will be provided by

Entergy-Koch, without recourse to or

support by either Entergy or Koch, and

proposes that any credit support

outstanding on December 31, 2005 be

allowed to terminate or expire in

accordance with its terms.

Entergy also requests authority for

Entergy-Koch and its direct and indirect

subsidiaries to declare and pay of

dividends out of capital or unearned

surplus without limitation regarding the

time period during which dividends

may be paid.8

Further, Entergy requests authority for

its nonutility subsidiaries, including

Entergy-Koch and its subsidiaries, to

provide administrative and consulting

services to each other at fair market

prices, subject to certain limitations

previously imposed by the

Commission.9

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27613 Filed 10–26–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27258]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

October 20, 2000.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated under the Act. All

interested persons are referred to the

application(s) and/or declaration(s) for

complete statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendment(s) is/are available for

public inspection through the

Commission’s Branch of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

November 14, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, DC 20549–0609, and serve

a copy on the relevant applicant(s) and/

or declarant(s) at the address(es)

specified below. Proof of service (by

affidavit or, in the case of an attorney at

law, by certificate) should be filed with

the request. Any request for hearing

should identify specifically the issues of

facts or law that are disputed. A person

who so requests will be notified of any

hearing, if ordered, and will receive a

copy of any notice or order issued in the

matter. After November 14, 2000, the

application(s) and/or declaration(s), as

filed or as amended, may be granted

and/or permitted to become effective.

American Electric Power Co. (70–5943)

American Electric Power Company,

Inc. (‘‘AEP’’), a registered holding

company located at 1 Riverside Plaza,

Columbus, Ohio 43215, has filed a posteffective amendment under sections 6(a)

and 7 of the Act and rule 54 under the

Act to a previously filed declaration.

AEP is currently authorized to issue

up to 55,200,000 shares of its common

stock (‘‘Common Stock’’) under AEP’s

Dividend Reinvestment and Stock

Purchase Plan (‘‘DRP’’) through

December 31, 2000.1 AEP states that, as

of June 30, 2000, 7,426,406 shares of

Common Stock (‘‘Remaining Shares’’)

have not yet been issued. AEP now

requests authority to issue the

Remaining Shares, in accordance with

the DRP, through September 30, 2006.

AEP states that the proceeds of the

issuance and sale of the Remaining

Shares will be used to pay certain

unsecured debts of AEP as they mature,

make additional investments in

common stock equities of AEP

subsidiaries, and for other corporate

purposes, including the acquisition of

exempt wholesale generators and

foreign utility companies.

GPU, Inc. (70–7670)

GPU, Inc. (‘‘GPU’’), 300 Madison

Avenue, Morristown, New Jersey 07960,

a registered holding company, has filed

a post-effective amendment to its

application-declaration under sections

6(a) and 7 of the Act and rules 53 and

54 under the Act.

By orders of the Commission dated

October 23, 1989 (HCAR No. 24971) and

December 8, 1995 (HCAR No. 26425)

(respectively, ‘‘1989 Order’’ and ‘‘1995

Order’’ and, collectively, ‘‘Orders’’),

GPU was authorized to issue and sell,

from time to time through December 31,

2000, under a Dividend Reinvestment

and Stock Purchase Plan (‘‘Plan’’), up to

2.5 million shares of its common stock,

$2.50 par value (‘‘Common Stock’’).

Common Stock is purchased under the

Plan either on the open market or

directly from GPU in the form of

authorized but unissued shares or

previously reacquired shares, as GPU

may direct, by the administrator of the

Plan.

GPU now proposes to extend to

December 31, 2010 the time it may issue

and sell authorized but unissued and

reacquired shares of Common Stock

under the Plan.

GPU, Inc., et al. (70–8937)

GPU, Inc. (‘‘GPU’’), a registered public

utility holding company, and its whollyowned subsidiary companies, GPU

Service, Inc. (‘‘GPUS’’), both located at

300 Madison Avenue, Morristown, New

Jersey 07960, and GPU International,

Federal Register / Vol. 65, No. 209 / Friday, October 27, 2000 / Notices 64463

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3Securities Exchange Act Release No. 43146

(Aug. 10, 2000), 65 FR 50253. 4 15 U.S.C. 78f(b).

5 15 U.S.C. 78f(b)(5).

6 In approving this rule change, the Commission

has considered the proposal’s impact on efficiency,

competition, and capital formation. 15 U.S.C. 78c(f).

7 15 U.S.C. 78s(b)(2).

8 17 CFR 200.30–3(a)(12).

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

Inc. (‘‘GPUI’’), located at One Upper

Pond Road, Parsippany, New Jersey

07054, have filed with this Commission

a post-effective amendment under

sections 6(a), 7, and 12(b) of the Act and

rules 45 and 54 under the Act to an

application-declaration previously filed

under the Act.

By orders dated April 10, 1997 (HCAR

No. 26702) and March 26, 1997 (HCAR

No. 26694) (‘‘Orders’’), the Commission

authorized, among other things, GPU,

through December 31, 2000, to

guarantee the debt of each of their direct

and indirect subsidiaries that engage in

bordering and marketing of electricity,

natural gas and other energy

commodities throughout the United

States (‘‘Energy Subsidiaries’’) under

rule 58 under the Act. The maximum

amount of guarantee debt and other

obligations authorized at any one time

is $150 million. The Orders also

authorize GPU and GPUI to invest,

through December 31, 2000, in the

aggregate no more than $20 million in

the energy commodities business either

by the acquisition of securities or by

making capital contributions to existing

subsidiaries of GPU and/or GPUI.

GPU and GPUI now request an

extension of time during which GPU

may guarantee the debt of the Energy

Subsidiaries and GPU and GPUI may

invest in the energy commodities

business until December 31, 2003. In all

other respects, the terms and conditions

of the transactions authorized by the

Commission in this file would remain

unchanged.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27614 Filed 10–26–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43463; File No. SR–Amex–

00–31]

Self-Regulatory Organizations; Order

Approving a Proposed Rule Change by

the American Stock Exchange LLC

Amending the Alternative Listing

Criteria of Section 101(b) of the Amex

Company Guide

October 19, 2000.

I. Introduction

On May 30, 2000, the American Stock

Exchange LLC (‘‘Exchange’’ or ‘‘Amex’’)

submitted to the Securities and

Exchange Commission (‘‘Commission’’),

pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a

proposed rule change amending certain

provisions of the Amex’s alternative

listing criteria. The proposed rule

change was published for comment in

the Federal Register on August 17,

2000.3 The Commission received no

comments on the proposal. This order

approves the proposal.

II. Description of the Proposal

Section 101(b) of the Amex Company

Guide sets forth alternative numerical

guidelines applied by the Exchange in

considering the eligibility of issuers to

list on the Exchange. These alternate

criteria currently include a three-year

history of operations, stockholders’

equity of at least $4 million, the

distribution criteria of Section 102(a) of

the Amex Company Guide (which

includes, among other criteria, a

minimum of 800 public shareholders

together with a minimum public

distribution of 500,000 shares, or a

minimum of 400 public shareholders

together with a minimum public

distribution of 1,000,000 shares), and a

$15 million aggregate market value of

publicly held shares. The Exchange

proposes to reduce the operating history

timeframe from three to two years.

The Exchange believes that certain

relatively new companies, particularly

in high growth industries such as

technology, biotechnology, and the

Internet, may be attractive candidates

for Exchange listing and trading when

assessed under the provisions of Section

101(b) but may lack a three-year

operating history. The Exchange

believes a reduced minimum timeframe

will provide the Exchange with greater

flexibility in considering companies for

listing, particularly in high growth

industries where the Exchange believes

it is possible for a company to

demonstrate promising and attractive

prospects over a relatively short time

period.

III. Discussion

The Commission finds that the

proposed rule change is consistent with

the Act and the rules and regulations

under the Act applicable to a national

securities exchange and, in particular,

the requirements of Section 6(b) of the

Act.4 Specifically, the Commission finds

that the proposed rule change is

consistent with Section 6(b)(5) of the

Act,5 in that it is designed to remove

impediments to and perfect the

mechanism of a free and open market.6

The Commission believes that the

development and enforcement of

transparent standards governing the

listing of securities on an exchange is of

critical importance to exchange markets

and to the investing public. The

Commission believes that a reduced

minimum required operating history of

two years should provide the Exchange

with greater flexibility in considering

companies for listing on the Exchange.

In addition, the Commission notes that

companies seeking to have their

securities listed on the Exchange must

also satisfy the remaining requirements

of Section 101(b) of the Amex Company

Guide, which include stockholders’

equity of at least $4 million, a $15

million aggregate market value of

publicly held shares, and either a

minimum of 800 public shareholders

together with a minimum public

distribution of 500,000 shares, or a

minimum of 400 public shareholders

together with a minimum public

distribution of 1,000,000 shares.

IV. Conclusion

It Is Therefore Ordered, pursuant to

Section 19(b)(2) of the Act,7 that the

proposed rule change (SR–Amex–00–

31) is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27616 Filed 10–26–00; 8:45 am]

BILLING CODE 2010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43471; File No. SR–CSE–

00–08]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

The Cincinnati Stock Exchange,

Incorporated To Add CSE Rule 11.9(u)

and Interpretation .01 Under the Rule

to the Minor Rule Violation Program

October 20, 2000.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 and Rule 19b–4 there under,2

notice is hereby given that on October

13, 2000, The Cincinnati Stock