33978 Federal Register / Vol. 63, No. 119 / Monday, June 22, 1998 / Notices

25 In approving this proposed rule change, the

Commission is aware of the possibility that the

publication of order imbalances on a more frequent

basis may allow market participants to enter orders

without the good faith intention that the order be

executed, but instead with the intention of

canceling the order and profiting in some way from

a market reaction to the publication of the order.

The Commission expects that the Exchange will be

mindful of any potential formarket manipulation or

other abuse that the amended procedures may

create and that the Exchange will be vigilant in its

surveillance efforts to ensure that the MOC/LOC

procedures are executed in a manner consistent

with the Act and the rules thereunder and the rules

of the Exchange.

26See Amendment No. 2, supra note 4.

27 15 U.S.C. 78f(b)(5) and 15 U.S.C. 78s(b).

28 15 U.S.C. 78s(b)(2).

29 17 CFR 200.30–3(a)(12).

Finally, the Exchange proposes to

permit dissemination of MOC/LOC

order imbalances of any size between

3:00 p.m. and 3:40 p.m. with Floor

Official approval. These optional

publications would be informational

only and would be required to be

updated at 3:40 p.m., regardless of size.

The Commission believes that this

optional publication of MOC/LOC order

imbalances is consistent with the Act in

that it should increase the amount of

accurate market information available to

the public.25 The Commission believes

that this dissemination of MOC/LOC

order imbalances prior to 3:40 p.m.

could help reduce volatility at the close

by giving market participants more time

to react to reported order imbalances.

The Commission finds good cause for

approving Amendment No. 2 to the

proposed rule change prior to the

thirtieth day after the date of

publication of notice of filing thereof in

the Federal Register. Amendment No. 2

clarifies the proposal to indicate that,

under certain circumstances, the

Exchange may publish an order

imbalance at 3:50 p.m. where an

imbalance was not published at 3:40

p.m.26 The Exchange has represented

that, under certain limited

circumstances described in Amendment

No. 2 (i.e., where a bona fide error was

made causing an order to be cancelled

or an order was improperly entered

when there was no imbalance, resulting

in an imbalance of 50,000 shares or

more at 3:50 p.m.) the Exchange would

publish an order imbalance at 3:50 p.m.

even if an imbalance had not been

published at 3:40 p.m. As a result, the

Commission does not believe that

Amendment No. 2 raises any new

regulatory issues. Further, the

Commission notes that the original

proposal was published for the full 21-

day comment period during which one

comment, generally supporting the

proposal, was received by the

Commission. Accordingly, the

Commission believes there is good

cause, consistent with Sections 6(b)(5)

and 19(b) 27 of the Act, to approve

Amendment No. 2 to the Exchange’s

proposal on an accelerated basis.

V. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning Amendment No.

2, including whether that amendment is

consistent with the Act. Persons making

written submissions should file six

copies thereof with the Secretary,

Securities and Exchange Commission,

450 Fifth Street, NW, Washington, DC

20549. Copies of the submission, 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. 552, will be

available for inspection and copying at

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the NYSE. All

submissions should refer to File No.

SR–NYSE–97–36 and should be

submitted by July 13, 1998.

VI. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,28 that the

proposed rule change (SR–NYSE–97–

36) is approved as amended.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.29

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–16510 Filed 6–19–98; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Reports, Forms and Recordkeeping

Requirements

AGENCY: Office of the Secretary (DOT).

ACTION: Notice.

SUMMARY: This notice lists those forms,

reports, and recordkeeping requirements

imposed upon the public which were

transmitted by the Department of

Transportation to the Office of

Management and Budget (OMB) for its

approval in accordance with the

requirements of the Paperwork

Reduction Act of 1995 (44 U.S.C.

Chapter 35). Section 3507 of Title 44 of

the United States Code, requires that

agencies prepare a notice for publication

in the Federal Register, listing

information collection request

submitted to OMB for approval or

renewal under that Act. OMB reviews

and approves agency submissions in

accordance with criteria set forth in that

Act. In carrying out its responsibilities,

OMB also considers public comments

on the proposed forms and the reporting

and recordkeeping requirements. OMB

approval of an information collection

requirement must be renewed at least

once every three years.

The Federal Register Notice with a

60-day comment period soliciting

comments on the following collection of

information was published on March 9,

1998 [63 FR 11472].

DATES: Comments on this notice must be

received on or before July 22, 1998.

ADDRESSES: Written comments on the

DOT information collection request

should be forwarded, within 30 days of

publication, to Office of Information and

Regulatory Affairs, Office of

Management and Budget, New

Executive Office Building, Room 10102,

Washington, DC 20503, ATTN: FAA

Desk Officer. If you anticipate

submitting substantive comments, but

find that more than 10 days from the

date of publication are needed to

prepare them, please notify the OMB

official of your intent immediately.

FOR FURTHER INFORMATION CONTACT:

Copies of the DOT information

collection requests submitted to OMB

may be obtained from Ms. Judith Street,

Federal Aviation Administration,

Corporate Information Division, ABC–

100, 800 Independence Ave., SW., (202)

267–9895, Washington, DC 20591.

SUPPLEMENTARY INFORMATION:

Federal Aviation Administration (FAA)

Title: Report of Inspections Required

by Airworthiness Directives, FAR part

39.

OMB Control Number: 2120–0056.

Type of Request: Extension of a

currently approved collection.

Affected Public: Owners and

operators of the affected products.

Abstract: Airworthiness directives are

regulations issued to require corrective

action to correct unsafe conditions in

aircraft, engines, propellers, and

appliances. Records of inspections are

often needed when emergency

corrective action is taken to determine

if the action was adequate to correct the

unsafe condition.
Federal Register / Vol. 63, No. 119 / Monday, June 22, 1998 / Notices 33979

1On June 4, 1998, BNSF and UP filed a petition

for exemption in STB Finance Docket No. 33612

(Sub-No. 1), The Burlington Northern and Santa Fe

Railway Company—Trackage Rights Exemption—

Union Pacific Railroad Company, wherein BNSF

and UP request that the Board permit the overhead

trackage rights arrangement described in the present

proceeding to expire on July 31, 1998. That petition

will be addressed by the Board in a separate

decision.

Estimated Burden: The estimated total

annual burden is 6,771 hours.

Comments are invited on: Whether

the proposed collections of information

are necessary for the proper

performance of the functions of the

Department, including whether the

information will have practical utility;

the accuracy of the Department’s

estimate of the burden of the proposed

information collections; ways to

enhance the quality, utility and clarity

of the information to be collected; and

ways to minimize the burden of the

collection of information on

respondents, including the use of

automated collection techniques or

other forms of information technology.

Issued in Washington, DC, on June 15,

1998.

Phillip A. Leach,

Clearance Officer, United States Department

of Transportation.

[FR Doc. 98–16509 Filed 6–19–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Reports and Guidance Documents; Air

Carriers; Cessation of Operations

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: The Department’s Office of

Aviation Analysis issues this notice to

provide guidance regarding the effect

that a cessation of operations pursuant

to a voluntary agreement with the

Federal Aviation Administration (FAA)

has upon an air carrier’s economic

authority issued pursuant to 49 U.S.C.

41102 or 41738. The notice advises U.S.

certificated and commuter air carriers

that the Department considers the

cessation of operations pursuant to such

a voluntary agreement with the FAA to

be a cessation of operations within the

meaning of 14 CFR 204.7. Therefore, the

carrier may not hold out, sell, wet lease,

provide or obtain subservice, or conduct

any other direct air transportation

operations until it has again been found

fit.

FOR FURTHER INFORMATION CONTACT:

William J. Wagner, Senior Trial

Attorney, Office of Aviation

Enforcement and Proceedings, U.S.

Department of Transportation, 400 7th

St. SW., Washington, DC 20590. Tel. No.

(202) 366–9357.

John V. Coleman,

Director, Office of Aviation Analysis.

[FR Doc. 98–16463 Filed 6–19–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 33612]

The Burlington Northern and Santa Fe

Railway Company; Trackage Rights

Exemption; Union Pacific Railroad

Company

Union Pacific Railroad Company (UP)

has agreed to grant overhead trackage

rights to The Burlington Northern and

Santa Fe Railway Company (BNSF)

between Dallas, TX, in the vicinity of

UP’s milepost 214.6 (Dallas

Subdivision) and Tower 55, Fort Worth,

TX, in the vicinity of UP’s milepost

245.5 (Dallas Subdivision), a distance of

approximately 30.9 miles.1

The transaction was scheduled to be

consummated on June 15, 1998.

The purpose of the trackage rights is

to allow BNSF to operate over an

alternative line while BNSF’s line is

undergoing maintenance and repair.

As a condition to this exemption, any

employees affected by the trackage

rights will be protected by the

conditions imposed in Norfolk and

Western Ry. Co.—Trackage Rights—BN,

354 I.C.C. 605 (1978), as modified in

Mendocino Coast Ry., Inc.—Lease and

Operate, 360 I.C.C. 653 (1980).

This notice is filed under 49 CFR

1180.2(d)(7). If it contains false or

misleading information, the exemption

is void ab initio. 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. 33612, must be filed with

the Surface Transportation Board, Office

of the Secretary, Case Control Unit, 1925

K Street, N.W., Washington, DC 20423–

0001. In addition, a copy of each

pleading must be served on Yolanda M.

Grimes, Esq., The Burlington Northern

and Santa Fe Railway Company, P. O.

Box 961039, Fort Worth, TX 76161–

0039.

Board decisions and notices are

available on our website at

‘‘WWW.STB.DOT.GOV.’’

Decided: June 15, 1998.

By the Board, David M. Konschnik,

Director, Office of Proceedings.

Vernon A. Williams,

Secretary.

[FR Doc. 98–16531 Filed 6–19–98; 8:45 am]

BILLING CODE 4915–00–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[IA–120–86]

Proposed Collection; Comment

Request for Regulation Project

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995, Pub.

L. 104–13 (44 U.S.C. 3506(c)(2)(A)).

Currently, the IRS is soliciting

comments concerning an existing final

regulation, IA–120–86 (TD 8584),

Capitalization of Interest (§§ 1.263A–

8(b)(2)(iii), 1.263A–9(d)(1), 1.263A–

9(e)(1), 1.263A–9(f)(1)(ii), 1.263A–

9(f)(2)(iv), 1.263A–9(g)(2)(iv)(C),

1.263A–9(e)(1) and 1.263A–9(g)(3)(iv)).

DATES: Written comments should be

received on or before August 21, 1998

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulation should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Capitalization of Interest.

OMB Number: 1545–1265.

Regulation Project Number: IA–120–

86.

Abstract: Internal Revenue Code

section 263A(f) requires taxpayers to

estimate the length of the production

period and total cost of tangible

personal property to determine if

interest capitalization is required. This

regulation requires taxpayers to

maintain contemporaneous written

records of production period estimates,

to file a ruling request to segregate