Federal Register / Vol. 63, No. 89 / Friday, May 8, 1998 / Notices 25531

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

2On February 18, 1998, the NYSE filed its

proposed rule change with the Commission (File

No. SR–NYSE–98–07). On March 5, 1998, the

NASD filed its proposed rule change with the

Commission (File No. SR–NASD–98–20). On April

3, 1998, the MSRB filed its proposed rule change

with the Commission (File No. SR–MSRB–98–06).

3Securities Exchange Act Release Nos. 39830

(April 6, 1998), 63 FR 18060 (NYSE); 39831 (April

6, 1998), 63 FR 18057 (NASD); 39833 (April 6,

1998), 63 FR 18055 (MSRB).

registration on the American Stock

Exchange, Inc. (‘‘Amex’’ or

‘‘Exchange’’).

The reasons cited in the application

for withdrawing the Security from

listing and registration include the

following:

The Security also is listed for trading

on the New York Stock Exchange, Inc.

(‘‘NYSE’’) pursuant to a Registration

Statement Form 8–A that became

effective on March 26, 1998. Trading in

the Security on the NYSE commenced

on April 1, 1998, and concurrently

therewith the Security was suspended

from trading on the Amex.

The Company has complied with

Amex Rule 18 by filing with the

Exchange a certified copy of the

resolutions adopted by the Company’s

Board of Directors authorizing the

withdrawal of its Security from listing

and registration on the Exchange and by

setting forth in detail to the Exchange

the facts and reasons supporting the

proposed withdrawal. The Company

decided to withdraw its Security from

listing and registration on the Amex,

because of the Security’s listing and

registration on the NYSE.

By letter dated March 27, 1998, the

Exchange informed the Company that it

would not object to the withdrawal of

the Company’s Security from listing and

registration on the Amex.

By reason of Section 12(b) of the Act

and the rules and regulations

thereunder, the company shall continue

to be obligated to file reports under

Section 13 of the Act with the

Commission and the NYSE.

Any interested person may, on or

before May 26, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Exchange and what terms,

if any, should be imposed by the

commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–12210 Filed 5–7–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (Pope Resources, A

Delaware Limited Partnership,

Depositary Receipts (Units)) File No.

1–9035

May 4, 1998.

Pope Resources, A Delaware Limited

Partnership (‘‘Company’’) has filed an

application with the Securities and

Exchange Commission (‘‘Commission’’),

pursuant to Section 12(d) of the

Securities Exchange Act of 1934 (‘‘Act’’)

and Rule 12d2–2(d) promulgated

thereunder, to withdraw the above

specified security (‘‘Security’’) from

listing and registration on the Pacific

Exchange, Inc. (‘‘PCX’’ or ‘‘Exchange’’).

The reasons cited in the application

for withdrawing the Security from

listing and registration include the

following:

The Security of the Company has

been listed for trading on the Exchange

since December 6, 1995, and has been

approved for quotation on the NASDAQ

National Market System (‘‘NASDAQ’’)

since July 16, 1991.

The Company has complied with

Exchange Rule 3.4(b) by filing with the

Exchange a certified copy of the

resolution adopted by the Company’s

Board of Directors authorizing the

delisting of the Security from the PCX

and a letter setting forth in detail the

reasons for the proposed delisting and

facts in support thereof. In deciding to

withdraw the Security from listing and

registration on the PCX, the Company

considered the costs and expenses of

maintaining the dual listing of its

Security on the PCX and the NASDAQ.

The Company sees no advantage in the

dual trading of its Security and believes

that the dual listing has fragmented the

market for its Security and has created

arbitrage opportunities that have led to

instability in the price of the Company’s

Security. There have often been

significant differences in the price at

which the Security trades in one market

as opposed to the other, which has been

exacerbated due to how thinly the

Security is traded on the PCX.

By letter dated March 16, 1998, the

Exchange informed the Company that it

had approved the company’s request to

be removed from listing and registration

on the PCX.

The Company shall continue to be

obligated to file reports under Section

13 of the Act with the Commission.

Any interested person may, on or

before May 26, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Exchange and what terms,

if any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–12209 Filed 5–7–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39944; File Nos. SR–

MSRB–98–06, SR–NASD–98–20, SR–NYSE–

98–07]

Self-Regulatory Organizations; The

Municipal Securities Rulemaking

Board; The National Association of

Securities Dealers, Inc.; and The New

York Stock Exchange, Inc.; Order

Extending Comment Period for

Proposed Rule Changes Regarding

Confirmation and Affirmation Services

May 1, 1998.

Recently, the Municipal Securities

Rulemaking Board (‘‘MSRB’’), The

National Association of Securities

Dealers, Inc. (‘‘NASD’’), and the New

York Stock Exchange, Inc. (‘‘NYSE’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) proposed

rule changes pursuant to Section

19(b)(1) of the Securities Exchange Act

of 1934 (‘‘Act’’)1 concerning

amendments to their rules regarding

confirmation and affirmation services.2

Notices of the proposals were published

in the Federal Register on April 13,

1998.3

The notices of the proposals state that

comments on the proposals should be

received by May 4, 1998. The

Commission has received a request that

the comment period for the proposals be