40142 Federal Register / Vol. 63, No. 143 / Monday, July 27, 1998 / Notices

1Frontier Utilities is an indirect subsidiary of

ARB, Inc., a closely held California corporation.

ARB, Inc. is not now a ‘‘holding company’’ or an

‘‘affiliate’’ of any ‘‘holding company’’ or ‘‘publicutility company,’’ as defined in section 2 of the Act.

2Solutions currently is jointly owned by Pacific

and Enova.

Dated at Rockville, Maryland, this 15th day

of July 1998.

For the Nuclear Regulatory Commission.

John W. Craig,

Director, Division of Regulatory Applications,

Office of Nuclear Regulatory Research.

[FR Doc. 98–19970 Filed 7–24–98; 8:45 am]

BILLING CODE 7590–01–P

POSTAL SERVICE

Sunshine Act Meeting

TIMES AND DATES: 1:00 p.m., Monday,

August 3, 1998; 8:30 a.m., Tuesday,

August 4, 1998.

PLACE: Harrisburg, Pennsylvania, at the

U.S. Postal Service Processing and

Distribution Center, 1425 Crooked Hill

Road, in the Second Floor Conference

Room 219.

STATUS: August 3 (Closed); August 4

(Open).

MATTERS TO BE CONSIDERED:

Monday, August 3—1:00 p.m. (Closed)

1. Compensation issues.

Tuesday, August 4—8:30 a.m. (Open)

1. Minutes of the Previous Meeting, June

29–30, 1998.

2. Remarks of the Postmaster General/

Chief Executive Officer.

3. Consideration of Amendments to

BOG Bylaws.

4. Quarterly Report on Service

Performance.

5. Quarterly Report on Financial

Results.

6. Report on the Allegheny Area and

Harrisburg Performance Cluster.

7. Capital Investments.

a. 416 Truck Tractors.

b. Forwarding Control Systems for the

Computerized Forwarding Systems

c. 54 Small Parcel and Bundle Sorters.

D. Identification Code Sort and Pilot

Development ManagementIntegrated Operations Management.

e. Chicago, Illinois, Busse Surface

Hub Modification.

f. Self Service Vending Equipment

8. Tentative Agenda for the August 31–

September 1, 1998, meeting in

Washington, D.C.

CONTACT PERSON FOR MORE INFORMATION:

Thomas J. Koerber, Secretary of the

Board, U.S. Postal Service, 475 L’Enfant

Plaza, S.W., Washington, D.C. 20260–

1000. Telephone (202) 268–480.

Thomas J. Koerber,

Secretary.

[FR Doc. 98–20148 Filed 7–23–98; 2:39 pm]

BILLING CODE 7710–12–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–26897]

Filing Under the Public Utility Holding

Company Act of 1935, as amended

(‘‘Act’’)

July 20, 1998.

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 amendments is/are available for

public inspection through the

Commission’s Office 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

August 13, 1998, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549, and serve a

copy on the relevant applicant(s) and/or

declaration(s) at the address(es)

specified below. Proof of service (by

affidavit or, in case of an attorney at

law, by certificate) should be filed with

the request. Any request for hearing

should identify specifically the issues of

fact 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 August 13, 1998, the

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

filed or as amended, may be granted

and/or permitted to become effective.

Sempra Energy, et al. (70–9333)

Sempra Energy (‘‘Sempra’’), located at

101 Ash Street, San Diego, California

92101, an exempt holding company

under section 3(a)(1) of the Act, and an

indirect subsidiary of Sempra, Frontier

Pacific, Inc. (‘Frontier Pacific’’), located

at 555 West Fifth Street, Suite 2900, Los

Angeles, California 90013–1001, have

filed an application under sections

3(a)(1), 9(a)(2), and 10 of the Act.

Applicants seek authority for Frontier

Pacific to acquire up to 90.1% of the

outstanding shares of Frontier Energy,

LLC (‘‘Frontier Energy’’), a North

Carolina partnership that will construct,

own and operate a gas utility

distribution system in North Carolina.

The remaining membership interests in

Frontier Energy would be acquired by a

third party, Frontier Utilities of North

Carolina, Inc. (‘‘Frontier Utilities’’.1) In

addition, applicants are seeking an

order under section 3(a)(1) exempting

Sempra, Frontier Pacific, and each of

their subsidiary companies from all

provisions of the Act, except section

9(a)(2).

Sempra has two principal

subsidiaries, Pacific Enterprises

(‘‘Pacific’’) and Enova Corporation

(‘‘Enova’’), each of which is an exempt

holding company under section 3(a)(1)

of the Act. Pacific’s sole utility

subsidiary is Southern California Gas

Company (‘‘SoCalGas’’), which

purchases, transports and distributes

natural gas in southern California. As of

December 31, 1997, Pacific reported

consolidated total assets of $4.977

billion, of which approximately $3.154

billion consisted of net gas utility plant.

For the year ended December 31, 1997,

Pacific reported $2.738 billion in

operating revenues (including revenues

from transportation-only customers) and

$184 million in net income.

Enova’s sole utility subsidiary is San

Diego Gas & Electric Company

(‘‘SDG&E’’), which provides electric and

natural gas service in San Diego and

surrounding areas. As of December 31,

1997, Enova reported consolidated total

assets of $5.2 billion, of which

approximately $2.49 billion consists of

net electric plant and $449 million

consists of net gas utility plant. For the

year ended December 31, 1997, Enova

reported operating revenues of $2.2

billion (81.6% from electricity sales and

18.4% from gas sales) (including

revenues from transportation only

customers), and $252 million in net

income. Both SoCalGas and SDG&E are

subject to the jurisdiction of the

California Public Utility Commission.

Frontier Pacific, which will directly

acquire interests in Frontier Energy,

currently is a wholly owned subsidiary

of Sempra Energy Solutions, LLC

(‘‘Solutions’’), itself an indirect

subsidiary of Sempra.2 However,

applicants state that Solutions will

transfer the common stock of Frontier

Pacific to Sempra prior to the issuance

of any order in this filing.

By orders dated January 27, 1996,

August 16, 1996, and March 27, 1997,

the North Carolina Utilities Commission

(‘‘NCUC’’) granted Frontier Utilities

certificates of public convenience and

necessity (‘‘Certificates’’) to construct,

test, market, own and operate a new
Federal Register / Vol. 63, No. 143 / Monday, July 27, 1998 / Notices 40143

3Specifically, the NCUC authorized Frontier

Pacific and Frontier Utilities to contribute

approximately $12 million of equity and capital to

Frontier Energy. In addition, the NCUC authorized

Frontier Energy to borrow $40 million, subject to

certain conditions.

natural gas distribution system in seven

counties in northwestern North

Carolina. By order dated March 9, 1998,

the NCUC approved various proposals

by Frontier Utilities and Frontier Energy

related to the financing for the

construction of this gas system,

including participation by Frontier

Pacific as an equity investor in Frontier

Energy.3 In addition, the NCUC

authorized Frontier Utilities to transfer

the Certificates to Frontier Energy.

Frontier Energy commenced

construction in four of the counties

during the second quarter of 1998.

When complete, the system in these

counties will consist of approximately

140 miles of transmission mains,

including a 40 mile lateral tap off the

interstate pipeline facilities of

Transcontinental Gas Pipe Line Corp.

and at least 320 miles of distribution

mains. Construction in the other

counties will commence at a later date.

Applicants state that attributable

income from Frontier Energy will

contribute less than 1% of Sempra’s

consolidated income on a pro forma

basis.

Following the proposed transactions,

Sempra and each of its public utility

subsidiaries, except Frontier Energy and

Frontier Pacific, will be organized in

California. Frontier Energy and Frontier

Pacific will be organized in North

Carolina. Applicants contend that they,

and each of their subsidiaries, will

qualify for a section 3(a)(1) exemption

upon consummation of the proposed

transactions.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–19982 Filed 7–24–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. IC–23323; 812–11172]

Weiss, Peck & Greer Funds Trust, et

al.; Notice of Application

July 21, 1998.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for

exemption under Section 6(c) of the

Investment Company Act of 1940 (the

‘‘Act’’) from Section 15(a) of the Act.

SUMMARY OF APPLICATION: The requested

order would permit the implementation,

without prior shareholder approval, of

new investment advisory and

subadvisory agreements (the ‘‘New

Advisory Agreements’’) for a period of

up to 90 days following the

consummation of the acquisition of the

outstanding membership interests of

Weiss, Peck & Greer, L.L.C. (‘‘WPG’’) by

Robeco Groep N.V. (‘‘Robeco’’) (but in

no event later than October 31, 1998)

(the ‘‘Interim Period’’). The order would

also permit payment of all fees earned

under the new advisory agreements

during the Interim Period following

shareholder approval.

APPLICANTS: Weiss, Peck & Greer Funds

Trust, on behalf of WPG Government

Money Market Fund, WPG Tax Free

Money Market Fund, WPG Core Bond

Fund, WPG Intermediate Municipal

Bond Fund, and WPG Quantitative

Equity Fund; Tomorrow Funds

Retirement Trust, on behalf of

Tomorrow Long-term Retirement Fund,

Tomorrow Medium-Term Retirement

Fund, and Tomorrow Short-Term

Retirement Fund; SEI Tax Exempt Trust,

on behalf of SEI Institutional Tax Free

Portfolio, SEI Pennsylvania Tax Free

Portfolio, SEI California Tax Free

Portfolio, and SEI Tax Free Portfolio;

Weiss, Peck & Greer International Fund

(‘‘International Fund’’); WPG Growth

and Income Fund; WPG Growth Fund,

WPG Tudor Fund; and RWB/WPG U.S.

Large Stock Fund (collectively, the

‘‘Funds’’); and WPG.

FILING DATES: The application was filed

on June 15, 1998, and amended on July

17, 1998.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the SEC orders a hearing.

Interested persons may request a

hearing by writing to the SEC’s

Secretary and serving applicants with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

August 18, 1998, and should be

accompanied by proof of service on

applicants in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested.

Persons who wish to be notified of a

hearing may request notification by

writing to the SEC’s Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth

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

Applicants: if to Weiss, Peck & Greer

Funds Trust; Tomorrow Funds

Retirement Trust; Weiss, Peck & Greer

International Fund; WPG Growth and

Income Fund; WPG Growth Fund; WPG

Tudor Fund; RWB/WPG U.S. Large

Stock Fund; or WPG, One New York

Plaza, New York, NY 10004; if to SEI

Tax Exempt Trust, One Freedom Valley

Drive, Oaks, PA 19456.

FOR FURTHER INFORMATION CONTACT:

Timothy R. Kane, Staff Attorney, at

(202) 942–0615, or Edward P.

Macdonald, Branch Chief, at (202) 942–

0564 (Division of Investment

Management, Office of Investment

Company Regulation).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee at the SEC’s

Public Reference Branch, 450 Fifth

Street, N.W., Washington, D.C. 25049

(tel. 202–942–8090).

Applicants’ Representations

1. Each Fund is either an open-end

management investment company

registered under the Act or a series of

the company. Weiss, Peck and Greer

Funds Trust currently offers five series:

WPG Government Money Market Fund,

WPG Tax Free Money Market Fund,

WPG Intermediate Municipal Bond

Fund, WPG Core Bond Fund, and WPG

Quantitative Equity Fund. Tomorrow

Funds Retirement Trust includes, for

purposes of this application, three

Series: Tomorrow Long-term Retirement

Fund, Tomorrow Medium-Term

Retirement Fund, and Tomorrow Shortterm Retirement Fund. SEI Tax Exempt

Trust includes, for purposes of this

application, four series: SEI Institutional

Tax Free Portfolio, SEI Pennsylvania

Tax Free Portfolio, SEI California Tax

Free Portfolio, and SEI Tax Free

Portfolio. Each of the other Funds is a

single series investment company.

Tomorrow Funds Retirement Trust and

RWB/WPG U.S. Large Stock Fund are

organized as Delaware business trusts.

All the other Funds are organized as

Massachusetts business trusts.

2. WPG serves as the investment

adviser to each Fund pursuant to a

separate investment advisory agreement

and is an investment adviser registered

under the Investment Advisers Act of

1940 (‘‘Advisers Act’’). Hill Samuel

Asset Management Limited (‘‘Hill

Samuel’’) serves as the investment

subadviser to the International Fund

pursuant to an investment subadvisory

agreement (together with the investment

advisory agreements, the ‘‘Current

Advisory Agreements’’) and is an

investment adviser registered under the

Advisers Act.

3. The owners of the outstanding

voting securities of WPG (‘‘Sellers’’)