23822 Federal Register / Vol. 63, No. 83 /Thursday, April 30, 1998 / Notices

2The proposal would exempt from the

Exchange’s quantitative maintenance standards

securities that are also listed on the NYSE, Amex,

or Nasdaq National Market. The quantitative

maintenance standards govern, for example, net

tangible assets, the number of public beneficial

shareholders, and the market value of an issuer’s

shares publicly held. The Commission notes that

the proposed rule change would not provide an

exemption from the Exchange’s corporate

governance and disclosure requirements for

securities that maintain a listing on the CHX and

are otherwise listed on the NYSE, Amex, or Nasdaq

National Market.

3 15 U.S.C. 78f(b)(5). 4 17 CFR 200.30–3(a)(12).

securities, or the Nasdaq National

Market, the issuer shall not be required

to fulfill all the requirements for an

original listing application. Instead, the

issuer shall only be required to submit

to the Exchange (1) a copy of the

application for listing on the NYSE,

Amex or Nasdaq National Market,

together with all supporting materials,

(2) a board resolution of the issuer

authorizing listing on the Exchange, (3)

the issuer’s Form 10–K, most recent

three Form 10–Qs, and most recent

proxy statement (for non-IPOs), or the

issuer’s latest registration statement and

exhibits (for IPOs), (4) the required

listing fee, (5) an executed Exchange

listing agreement, (6) evidence of

approval for listing by the NYSE, Amex

or Nasdaq National Market, (7) a

specimen stock certificate, (8) the

issuer’s registration statement filed

under the Securities Exchange Act of

1934, and (9) a Letter of Reliance

authorizing the Exchange to process the

application and supporting materials as

if addressed to the Exchange in lieu of

an original listing application.

Delisting For Lack of Sufficient

Volume. Current Rule 22(c) of Article

XXVIII provides that Tier II listed issues

will normally be considered for

delisting if the company fails to

maintain a net worth which is the

greater of (i) 150% of the prior year’s

consolidated net loss or (ii) $500,000 or

when the volume of trading declines to

a level which will not support a listed

market in the judgment of the Exchange

and its Committee on Floor Procedure.

The proposed rule change would

eliminate the specific reference to

volume of trading as vague and

unnecessary in light of the authority

Rule 22(a) grants the Exchange to delist

Tier II securities.

Maintenance Listing Standards.

Currently, Rules 14, 15, 16, 17 and 22

of Article XXVIII provide for certain

maintenance standards that Tier I and

Tier II listed securities must meet in

order to continue to be listed on the

Exchange. The proposed rule change

would provide that if a security that is

listed on the Exchange is also listed on

the NYSE, Amex or Nasdaq National

Market, as long as the security continues

to be listed on such other market, it

shall not be required to meet certain of

the maintenance standards contained in

the Exchange’s rules.2 This provision

will avoid a situation where the

Exchange might be forced to delist a

security that fails certain maintenance

tests, when it continues to meet the

requirements of such other market.

2. Statutory Basis

The proposed rule change is

consistent with Section 6(b)(5) 3 of the

Act in that it is designed to promote just

and equitable principles of trade, to

foster cooperation and coordination

with persons regulating securities

transactions, to remove impediments to

and perfect the mechanism of a free and

open market and a national market

system and, in general, to protect

investors and the public interest.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any burden on competition.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

The Exchange has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the self-regulatory

organization consents, the Commission

will:

(A) By order approve such proposed

rule change, or

(B) Institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing,

including whether the proposed rule

change is consistent with the Act.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submissions, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. 522, will be

available for inspection and copying at

the Commission’s Public Reference

Room, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the CHX. All submissions

should refer to File No. SR–CHX–98–7

and should be submitted May 21, 1998.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.4

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–11448 Filed 4–29–98; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Highway Administration

Truck Size and Weight Impact

Methodology Review Conference

AGENCY: Federal Highway

Administration (FHWA), DOT.

ACTION: Notice of meeting.

SUMMARY: The FHWA is announcing an

informational meeting concerning the

analytical procedures used to estimate

the impact of potential changes to the

Nation’s truck size and weight (TS&W)

limits on:

1. Freight diversion and mode share;

2. Safety and traffic operations;

3. Highway agency costs (pavement, bridge

and roadway geometry);

4. Shipper costs and rail industry

profitability;

5. Roadway geometry requirements;

6. Traffic operations; and

7. Environmental quality and energy

consumption.

An understanding of these procedures is

required to evaluate the illustrative

TS&W scenarios which will be

presented in the U.S. Department of

Transportation’s (U.S. DOT’s) 1998

Comprehensive Truck Size & Weight

(CTS&W) Study.

DATES: The meeting will be held on July

7, 1998, from 8:30 a.m. to 5:00 p.m. and

on July 8, 1998, from 8:30 a.m. to noon.
Federal Register / Vol. 63, No. 83 /Thursday, April 30, 1998 / Notices 23823

1CSPR will replace CSP as the common carrier

operator of the lines being acquired.

2BNSF currently owns the lines known as the 1st

Subdivision, the 2nd Subdivision, and the 4th

Subdivision. UP currently owns the line known as

the 3rd Subdivision.

ADDRESSES: The meeting will be held at

the Willard Inter-Continental Hotel,

1401 Pennsylvania Avenue, N.W.,

Washington, D.C. 20004.

FOR FURTHER INFORMATION CONTACT: Ms.

Regina McElroy, Office of Policy

Development, HPP–10, (202) 366–9216,

for substantive information regarding

the conference; Megan Naranjo, HPP–

10, (202) 366–0281, for conference

registration material; or Mr. Charles E.

Medalen, Office of the Chief Counsel,

HCC–20, (202) 366–1354, Federal

Highway Administration, 400 Seventh

Street, SW., Washington, D.C. 20590.

Office hours are from 7:45 a.m. to 4:15

p.m., e.t., Monday through Friday,

except Federal holidays.

SUPPLEMENTARY INFORMATION:

Electronic Access

An electronic copy of this document

may be downloaded using a modem and

suitable communications software from

the Federal Register Electronic Bulletin

Board Service at (202) 512–1661.

Internet users may reach the Federal

Register’s home page at: http://

www.nara.gov/nara/fedreg and the

Government Printing Office’s database

at: http://www.access.gpo.gov/suldocs.

Background

The U.S. DOT currently has underway

a CTS&W Study. The Study was

initiated in 1994 by Secretary of

Transportation Rodney E. Slater, who

was then the Federal Highway

Administrator. The Study is intended to

provide decisionmakers with fact-based

information regarding the highly

controversial and multifaceted TS&W

issue. The Department anticipates that

the final TS&W Study report will be

transmitted to Congress by the end of

1998. It will include four volumes:

Volume I—Executive Summary, Volume

II—Issues and Background, Volume III—

Scenario Analysis, and Volume IV—

Guide to Documentation. A draft

version of Volume II was distributed for

external review in June 1997. Many

valuable comments were received and,

as a result, the final version will be

markedly improved.

Work on Volume III, Scenario

Analysis, is now in progress. The

Department expects that a draft version

will be available for review and

comment this summer. A number of

illustrative size and weight scenarios

have been identified for analysis, and

each scenario will be evaluated in terms

of its likely impact on freight diversion,

safety, infrastructure (pavement, bridge

and roadway geometry), shipper costs,

rail industry viability, traffic operations,

energy consumption and environmental

quality. The scenarios, as well as the

impact areas, were selected based on

comments received through the Study’s

extensive outreach process.

As part of the overall outreach

activity, the FHWA, on behalf of the

Department, is sponsoring a TS&W

Impact Methodology Review

Conference. This event is being

organized to facilitate review of the

Volume III draft. At the conference,

subject matter experts will present the

analytical approach employed, for each

of the impact areas identified above, to

evaluate the illustrative scenarios. The

presentations will focus on technical

methods used in the scenario analysis.

Study results will not be discussed.

For individuals unable to attend the

meeting, copies of the briefing material

may be obtained, free of charge, by

contacting Ms. Megan Naranjo at the

address and telephone number listed at

the beginning of this Notice. In addition,

we will publish a summary of the

conference following the event. The

summary may also be obtained by

contacting Ms. Naranjo.

Meeting Information

Guest rooms at the Willard Hotel, for

confirmed participants, are available at

a discounted rate. Room reservations

should be made directly with the hotel

at (202) 628–9100.

An agenda, registration form, and

supporting conference materials may be

obtained from the FHWA. The point of

contact is Ms. Megan Naranjo at the

address and telephone number at the

beginning of this Notice.

In order to provide ample opportunity

for dialogue, we are limiting the meeting

to 100 participants. All participants

must be registered in advance. Should

demand significantly exceed this limit,

we will consider holding another

similar event.

A fee is being charged to partially

cover the cost of the conference. The fee

includes a continental breakfast on the

first and second days and lunch on the

first day. The early registration fee

(received on or before June 6, 1998) is

$55.00. After June 6, 1998, a late

registration fee of $65.00 is payable at

the conference.

Authority: 23 U.S.C. 315; 49 CFR 1.48.

Gary E. Maring,

Acting Associate Administrator for Policy.

[FR Doc. 98–11523 Filed 4–29–98; 8:45 am]

BILLING CODE 4910–22–P

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 33558]

Camas Prairie Railnet, Inc.; Acquisition

and Operation Exemption; Camas

Prairie Railroad Company, Union

Pacific Railroad Company, and the

Burlington Northern and Santa Fe

Railway Company

Camas Prairie Railnet, Inc. (CSPR), a

noncarrier, has filed a verified notice of

exemption under 49 CFR 1150.31 to

acquire and operate a series of

interconnected lines of railroad

currently owned by the Union Pacific

Railroad Company (UP), and The

Burlington Northern and Santa Fe

Railway Company (BNSF), and operated

by the Camas Prairie Railroad Company

(CSP) 1 as follows: (1) A line of railroad,

known as the 1st Subdivision, extending

from milepost 137.0, at Lewiston, ID, to

milepost 61.0 (end of track), at or near

Kooskia, ID; (2) a line of railroad, known

as the 2nd Subdivision, extending from

milepost 0.0, at Spalding, ID, to

milepost 66.5 (end of track), at or near

Grangeville, ID; (3) a line of railroad,

known as the 3rd Subdivision,

extending from milepost 0.0, at Riparia,

WA, to milepost 71.5, at East Lewiston,

ID; and (4) a line of railroad, known as

the 4th Subdivision, extending from

milepost 0.0, at Orofino, ID, to milepost

31.0 (end of track), at or near Revling,

ID.2 In addition, CSPR will also obtain

incidental overhead trackage rights over

UP trackage between milepost 10.46, at

Riparia, and approximately milepost

267.1, at Ayer, WA, for the purpose of

interchanging traffic with both UP and

BNSF. The trackage to be acquired and

operated by CSPR is approximately 245

route miles in length, and the related

trackage rights are approximately 15.1

miles in length.

The transaction was scheduled to be

consummated on or after April 17, 1998.

This transaction is related to STB

Finance Docket No. 33578, North

American Railnet, Inc.—Continuance in

Control Exemption—Camas Prairie

Railnet, Inc., wherein North American

Railnet, Inc. has concurrently filed a

verified notice to continue in control of

CSPR upon its becoming a Class III rail

carrier.

Because the projected revenues of the

rail lines to be operated will exceed $5

million, CSPR certified to the Board, on