33466 Federal Register / Vol. 73, No. 114 / Thursday, June 12, 2008 / Notices 

4The Postal Service’s filings under seal did not 

comply with the Commission’s procedural rules. 

The Postal Service is reminded that a cover sheet 

must be attached to all documents being filed under 

seal. The cover sheet must contain the caption and 

title pursuant to 39 CFR 3001.11(a). Consistent with 

previous practice, documents filed under seal 

should contain a statement similar to the following: 

‘‘CONFIDENTIAL—DOCUMENT FILED UNDER 

SEAL.’’ See, e.g., Docket No. MC2005–3, P.O. 

Ruling MC2005–3/2, at Attachment para. 10. 

5While this order treats these proceedings 

together due to their interrelated nature, future 

filings should be made in the docket related to the 

issues being addressed. 

6 Docket No. CP2008–8 was also filed pursuant to 

39 CFR 3020.90. 

7 In Order Nos. 78 and 79, the Commission 

provided guidance on the filing procedures that 

should be used for such filings in the future. See 

PRC Order No. 78 at 3, n.6. 

8The Commission characterizes the Governors’

decision and associated materials filed in Docket 

No. CP2008–8 as material that supports the specific 

negotiated service agreements filed in Docket Nos. 

CP2008–9 and CP2008–10. 

supporting materials, under seal.4 The 

Postal Service asserts that ‘‘[t]he names 

of customers who enter into respective 

contracts and the related contract prices 

are highly confidential business 

information.’’ Docket No. CP2008–9 

Pricing Notice at 1; Docket No. CP2008–

10 Pricing Notice at 1. 

The Postal Service’s filings in these 

dockets are related. Docket No. CP2008–

8 establishes, in essence, a shell 

classification, while Docket Nos. 

CP2008–9 and CP2008–10 are specific 

agreements negotiated pursuant to the 

conditions of the shell classification. 

Given this interrelationship, the 

Commission reviews these proceedings 

together in this order.5

In Order No. 43, the Commission 

issued regulations establishing a 

modern system of rate regulation, 

including a list of competitive products. 

PRC Order No. 43, October 29, 2007, 

3061, 4013. Among other things, the 

Commission determined that each 

negotiated service agreement would 

initially be classified as a separate 

product. The Commission also 

acknowledged, however, the possibility 

of grouping functionally equivalent 

agreements as a single product if they 

exhibit similar cost and market 

characteristics. Id. 2177 and 3001. In its 

filings, the Postal Service does not 

contend or provide support for the 

proposition that these two agreements 

are premised on similar cost and market 

characteristics. Thus, the specific Global 

Plus agreements filed in Docket Nos. 

CP2008–9 and CP2008–10 will be 

classified as new products. 

As noted above, the Postal Service 

filed all three above-captioned dockets 

pursuant to 39 CFR 3015.5.6

Recognizing that the Postal Service’s 

filings in these proceedings represent a 

series of recent filings involving 

competitive rates not of general 

applicability under 39 U.S.C. 3632(b)(3), 

the Commission will proceed as if the 

Global Plus negotiated service 

agreements also had been filed pursuant 

to 39 CFR part 3020, subpart B.7 As a 

consequence, the Commission will also 

review the dockets pursuant to 39 CFR 

3020.34. Because the Commission in its 

own discretion will review these 

dockets under 39 CFR 3020.34, the 

Postal Service may, if it wishes to do so, 

supplement the materials already filed 

with the Commission.8

In addition, the Commission directs 

the Postal Service to identify and list 

any contracts currently in existence 

(and their respective expiration dates) 

that would no longer qualify as Global 

Plus contracts under proposed revised 

section 2610.5 to the draft MCS attached 

to the Notice in Docket No. CP2008–8. 

The Commission also directs the Postal 

Service to provide a detailed 

justification for why it believes that 

Global Plus contracts’ expiration dates 

(without disclosing the identity of the 

customers) should not be made publicly 

available. The Postal Service must also 

address the reasons why the entire 

Governors’ decision is considered to be 

highly confidential or otherwise entitled 

to be filed under seal. 

Under the negotiated service 

agreements at issue, mailers would pay 

discounted rates prior to necessary 

regulatory approval for such rates 

subject to subsequent collection of the 

full rate if regulatory approval is not 

obtained. The Postal Accountability and 

Enhancement Act does not appear to 

contemplate this arrangement for new 

products. See 39 U.S.C. 3642(e). The 

Postal Service should address this issue 

in its comments. 

Answers to the Commission’s 

questions and any supplemental 

materials that the Postal Service plans to 

provide are due no later than June 13, 

2008. 

Interested persons may express views 

and offer comments on whether the 

planned changes are consistent with the 

policies of 39 U.S.C. 3632, 3633, or 

3642. Comments are due no later than 

June 19, 2008. 

Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in the 

above-captioned dockets. 

It is ordered: 

1. Responses to the Commission’s 

questions set forth in the body of this 

order and any supplemental materials 

that the Postal Service wishes to provide 

are due no later than June 13, 2008. 

2. Comments by interested persons on 

issues in these proceedings are due no 

later than June 19, 2008. 

3. The Commission appoints Paul L. 

Harrington as Public Representative to 

represent the interests of the general 

public in these proceedings. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Steven W. Williams, 

Secretary. 

[FR Doc. E8–13161 Filed 6–11–08; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of: Struthers, Inc. (n/k/a 

Global Marine, Ltd.), Sun Vacation 

Properties Corp., and Sunshine Mining 

& Refining Co.,; Order of Suspension 

of Trading 

June 10, 2008. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Struthers, 

Inc. (n/k/a Global Marine Ltd.) because 

it has not filed any periodic reports 

since the period ended September 30, 

2001. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Sun 

Vacation Properties Corp. because it has 

not filed any periodic reports since the 

period ended December 31, 2003. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Sunshine 

Mining & Refining Co. because it has not 

filed any periodic reports since 

September 30, 2001. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

companies. 

Therefore, it is ordered, pursuant to 

section 12(k) of the Securities Exchange 

Act of 1934, that trading in the abovelisted companies is suspended for the 

period from 9:30 a.m. EDT on June 10, 

2008, through 11:59 p.m. EDT on June 

23, 2008. 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 114 / Thursday, June 12, 2008 / Notices 33467 

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

2 17 CFR 240.19b–4. 

3The Exchange represents that permissible 

securities in connection with Financial Instruments 

would not include foreign equity securities. 

4See Commentary .07(a) to Amex Rule 1202. See 

also Securities Exchange Act Release No. 53105 

(January 11, 2006), 71 FR 3129 (January 19, 2006) 

(SR–Amex 2005–059) (approving, among other 

things, the adoption of Commentary .07 to Amex 

Rule 1202). 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 08–1347 Filed 6–10–08; 10:23 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–57932; File No. SR–Amex–

2008–39] 

Self-Regulatory Organizations; 

American Stock Exchange LLC; Notice 

of Filing of Proposed Rule Change and 

Amendment No. 1 Thereto Relating to 

the Listing and Trading of Trust Issued 

Receipts That Directly Hold 

Investments in Certain Financial 

Instruments and To Permit the Listing 

and Trading of Shares of Fourteen 

Funds of the Commodities and 

Currency Trust 

June 5, 2008. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on May 9, 

2008, the American Stock Exchange LLC 

(‘‘Amex’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

substantially prepared by the Exchange. 

On June 4, 2008, the Exchange filed 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice to solicit comments on the 

proposed rule change, as amended, from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to: (1) Amend 

Commentary .07 to Amex Rule 1202 to 

permit the listing and trading of certain 

trust issued receipts (‘‘TIRs’’) that hold 

any combination of investments 

including cash, securities, options on 

securities and indices, commodities, 

futures contracts, options on futures 

contracts, forward contracts, equity 

caps, collars, and floors, and swap 

agreements (collectively, ‘‘Financial 

Instruments’’); and (2) list and trade the 

shares (‘‘Shares’’) of fourteen funds 

(‘‘Funds’’) of the Commodities and 

Currency Trust (‘‘Trust’’) based on 

certain commodity indexes, 

commodities, and currencies pursuant 

to Commentary .07 to Amex Rule 1202, 

as proposed to be amended. The text of 

the proposed rule change is available at 

Amex, the Commission’s Public 

Reference Room, and http:// 

www.amex.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of, and basis for, 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Commentary .07 to Amex Rule 1202 to 

permit the listing and trading of certain 

TIRs that directly hold any combination 

of investments in Financial 

Instruments.3 In addition, the Exchange 

proposes to list and trade the Shares of 

the Funds pursuant to Commentary .07 

to Amex Rule 1202, as proposed to be 

amended. 

Proposed Revision to Commentary .07 

to Amex Rule 1202 

Commentary .07 to Amex Rule 1202 

currently permits the Exchange to list 

and trade TIRs where the underlying 

trust holds ‘‘Investment Shares.’’ 4

Investment Shares are defined in 

Commentary .07(b)(1) to Amex Rule 

1202 as securities that are (a) issued by 

a trust, partnership, commodity pool, or 

other similar entity that invests in any 

combination of futures contracts, 

options on futures contracts, forward 

contracts, commodities, swaps or high 

credit quality short-term fixed-income 

securities or other securities, and (b) 

issued and redeemed daily at net asset 

value (‘‘NAV’’) in amounts correlating to 

the number of receipts created and 

redeemed in a specified aggregate 

minimum number. As a result, TIRs that 

are listed pursuant to current 

Commentary .07 to Amex Rule 1202 are 

required to be in the form of a ‘‘masterfeeder’’ structure, whereby the listed 

security holds or invests in the security 

of the fund that is investing in the 

prescribed financial instruments. 

As a result of a recent interpretation 

by the staff of the Internal Revenue 

Service relating to the inability to 

interpose a grantor trust in order to 

utilize a certain tax reporting form, the 

Exchange has been notified that the 

need for the current master-feeder 

structure set forth in Commentary .07 to 

Amex Rule 1202 is no longer necessary. 

The Exchange represents that there are 

no substantive differences between the 

proposed structure (TIRs directly 

holding Financial Instruments) and the 

current master-feeder structure (TIRs 

holding Investment Shares that invest in 

certain financial instruments). Amex 

states that its proposal would provide 

an alternative for issuers so that TIRs 

may be listed and traded on the 

Exchange that directly invests in or 

holds Financial Instruments, rather than 

through an additional security of a fund. 

Specifically, the proposal seeks to 

expand the application of Commentary 

.07 to Amex Rule 1202 to both 

Investment Shares and Financial 

Instruments. Accordingly, new 

Commentary .07(b)(4) to Amex Rule 

1202 would be added to define 

‘‘Financial Instrument’’ as any 

combination of cash, securities, options 

on securities and indices, commodities, 

futures contracts, options on futures 

contracts, forward contracts, equity 

caps, collars, and floors, and swap 

agreements. Amex seeks to add the term 

‘‘Financial Instrument’’ to where the 

term ‘‘Investment Shares’’ appears 

throughout Commentary .07 to Amex 

Rule 1202 to indicate that TIRs directly 

holding Financial Instruments may be 

listed and traded on the Exchange. 

Description of the Funds and the Shares 

The Shares of each Fund will 

generally be subject to the Amex rules 

applicable to TIRs. The Shares represent 

common units of fractional undivided 

beneficial interests in, and ownership 

of, each Fund. Each Fund will invest the 

proceeds of its offering of Shares in 

various Financial Instruments that will 

provide exposure to the Funds’

underlying currency, commodity, or 

commodity index, as applicable. In 

addition, the Funds will also maintain 

cash positions in cash or money market 

instruments for the purpose of 

collateralizing such positions taken in 

the Financial Instruments. 

Shares of seven of the Funds of the 

Trust will be designated as Ultra 

ProShares while the Shares of the other 

seven Funds of the Trust will be 

mstockstill on PROD1PC66 with NOTICES