25754 Federal Register / Vol. 60, No. 92 / Friday, May 12, 1995 / Notices

14 17 CFR 200.30–3(a)(12).

1Section 3(c)(1) excludes from the definition of

‘‘investment company’’ any issuer whose

outstanding securities are beneficially owned by not

more than 100 persons and which is not making,

and does not propose to make, a public offering of

its securities.

believe that an increase in customer

interest will, in turn, enhance the depth

and liquidity of the markets in the

affected equity options.

The Exchanges believe that the

proposed rule changes are consistent

with Section 6 of the Act, in general,

and further the objectives of Section

6(b)(5), in particular, in that they are

designed to promote just and equitable

principles of trade as well as to protect

investors and the public interest.

(B) Self-Regulatory Organizations’

Statement on Burden on Competition

The Exchanges do not believe that the

proposed rule changes will impose any

burden on competition.

(C) Self-Regulatory Organizations’

Statement on Comments on the

Proposed Rule Changes Received From

Members, Participants or Others

No written comments were solicited

or received with respect to the proposed

rule changes.

III. Date of Effectiveness of the

Proposed Rule Changes 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 changes, or

(B) Institute proceedings to determine

whether the proposed rule changes

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

changes that are filed with the

Commission, and all written

communications relating to the

proposed rule changes 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

Section, 450 Fifth Street, NW.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Exchanges. All submissions

should refer to File Nos. SR–Phlx–95–

08, SR–Amex–95–12, SR–PSE–95–07,

SR–CBOE–95–19, and SR–NYSE–95–12

and should be submitted by June 2,

1995.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.14

Margaret H. McFarland,

Deputy Secretary.

[Investment Company Act Rel. No. 21045;

811–8170]

America’s Utility Tax-Free Income

Fund, Inc.; Notice of Application

May 5, 1995.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of Application for

Deregistration Under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: America’s Utility Tax-Free

Income Fund, Inc.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company.

FILING DATES: The application was filed

on February 21, 1995 and amended on

April 27, 1995.

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 applicant with a

copy of the request, personally or by

mail. Hearing requests should be

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

May 31, 1995, and should be

accompanied by proof of service on

applicant, 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 such notification

by writing to the SEC’s Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth

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

Applicant, 901 East Byrd Street,

Richmond, Virginia 23219.

FOR FURTHER INFORMATION CONTACT:

Marc Duffy, Senior Attorney, at (202)

942–0565, or C. David Messman, 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 from the SEC’s

Public Reference Branch.

Applicant’s Representations

1. Applicant is an open-end

diversified management investment

company organized under the laws of

the State of Maryland. On November 29,

1993, applicant registered under section

8(b) of the Act and filed a registration

statement under the Securities Act of

1933 (the ‘‘1933 Act’’). The 1933 Act

registration statement was never

declared effective, and was withdrawn

on October 6, 1994.

2. Applicant has never made, nor does

it intend to make, a public offering of its

securities. Applicant, however, sold

250,000 shares of its common stock for

$5 million to Dominion Resources, Inc.

(‘‘DRI’’) on January 26, 1994, and an

additional 15,883 shares of common

stock to DRI for $316,670 on February

1, 1994. DRI is the sole shareholder of

applicant.

3. At the time of filing this

application, the assets of applicant

consisted of portfolio securities of the

types that applicant is permitted to

invest in pursuant to its investment

objective and fundamental investment

policies. On March 31, 1995, the assets

had a value of $5,211,589. After

receiving the order sought by this

application, DRI intends to effect a

merger of applicant with and into DRI

or one of its consolidated subsidiaries.

As a result, DRI would continue to own

the assets of applicant without DRI

having to recognize at this time a loss

on its investment in applicant’s

common stock.

4. Applicant believes that after

receiving the order sought by this

application it could rely on the

exception from the definition of

‘‘investment company’’ in section

3(c)(1) of the Act because applicant has

never made a public offering of its

securities and has never had more than

one securityholder.1

5. At the time of filing this

application, applicant had no debts or

other liabilities outstanding, nor was

applicant a party to any litigation or

administrative proceeding.

6. Applicant is not now engaged, nor

does it intend to engage, in any business

activities other than those necessary for

the winding-up of its affairs by means
Federal Register / Vol. 60, No. 92 / Friday, May 12, 1995 / Notices 25755

of a merger into DRI or a consolidated

subsidiary of DRI. DRI and its whollyowned subsidiaries bore all the

expenses of applicant.

For the SEC, by the Division of Investment

Management, under delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–11706 Filed 5–11–95; 8:45 am]

BILLING CODE 8010–01–M

[File No. 1–9751]

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (Champion Enterprises,

Inc., Common Stock, $1.00 Par Value)

May 5, 1995.

Champion Enterprises, Inc.

(‘‘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 American Stock

Exchange, Inc. (‘‘Amex’’).

The reasons alleged in the application

for withdrawing the Security from

listing and registration include the

following:

According to the Company, in

addition to being listed on the Amex,

the Security is listed on the New York

Stock Exchange, Inc. (‘‘NYSE’’). The

Security commenced trading on the

NYSE at the opening of business on May

2, 1995 and concurrently therewith the

Security was suspended from trading on

the Amex.

In making the decision to withdraw

the Security from listing on the Amex,

the Company considered the direct and

indirect costs and expenses attendant in

maintaining the dual listing of the

Security on the NYSE and the Amex.

The Company does not see any

particular advantage in the dual trading

of the Security and believes that dual

listing would fragment the market for

the Security.

Any interested person may, on or

before May 26, 1995, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Amex 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. 95–11707 Filed 5–11–95; 8:45 am]

BILLING CODE 8010–01–M

[File No. 1–5590]

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (Fluke Corporation,

Common Stock, $.25 Par Value;

Common Stock Purchase Rights With

Respect to Common Stock, $.25 Par

Value)

May 5, 1995.

Fluke Corporation (‘‘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 securities

(‘‘Securities’’) from listing and

registration on the American Stock

Exchange, Inc. (‘‘Amex’’) and Pacific

Stock Exchange Incorporated (‘‘PSE’’).

The reasons alleged in the application

for withdrawing the Securities from

listing and registration include the

following:

According to the Company, in

addition to being listed on the Amex

and PSE, the Securities are listed on the

New York Stock Exchange, Inc.

(‘‘NYSE’’). The Securities commenced

trading on the NYSE at the opening of

business on April 10, 1995 and

concurrently therewith the Securities

were suspended from trading on the

Amex and PSE.

In making the decision to withdraw

the Securities from listing on the Amex

and PSE, the Company considered the

direct and indirect costs and expenses

attendant in maintaining the listing on

such exchanges in addition to the listing

on the NYSE. The Company does not

see any significant advantage in the

trading of the Securities on three

exchanges and believes that such

additional listings would cause

confusion and fragment the market for

the Securities.

Any interested person may, on or

before May 26, 1995 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 exchanges 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. 95–11709 Filed 5–11–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 35–26286]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

May 5, 1995.

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 thereunder. 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 thereto 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

May 30, 1995, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549, 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 case of an attorney at law, by

certificate) should be filed with the

request. Any request for hearing shall

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 said date, the application(s) and/

or declaration(s), as filed or as amended,

may be granted and/or permitted to

become effective.

New England Electric System (70–7732)

New England Electric System

(‘‘NEES’’), 25 Research Drive,

Westborough, Massachusetts 01582, a

registered holding company, has filed a

post-effective amendment to its

application-declaration under Sections