Federal Register / Vol. 60, No. 249 / Thursday, December 28, 1995 / Notices 67155

2The Fund is currently the sole shareholder of

the Trust, but will redeem its Trust shares prior to

the Reorganization.

complete liquidation of the Fund.2

Upon completion of the Reorganization,

each former shareholder of the fund will

be the owner of full and fractional

shares of the Trust equal in number and

aggregate net asset value to the shares he

or she held in the Fund.

5. In assessing the proposed

Reorganization, the Board considered

the following factors: (a) The terms and

conditions of the Agreement, including

the fact that shareholders of the Fund,

in effect, will receive shares of a

substantially identical Trust in an

exchange based on the relative net asset

values of such shares; (b) no transaction

costs or other charges will be incurred

by shareholders of the Fund in

connection with their acquisition of

Trust shares; and (c) the tax-free nature

of the Reorganization.

6. In connection with the proposed

Reorganization, shareholders of the

Fund were provided with a proxy

statement dated August 4, 1995. At a

special meeting held on September 28,

1995, shareholders of the Fund voted to

amend the Fund’s investment

management agreement and certain of

its fundamental investment policies,

and approved the Reorganization.

7. All expenses relating to the

Reorganization will be borne by the

Fund and, if the Reorganization is

consummated, will be assumed by the

Trust.

Applicants’ Legal Analysis

1. Sections 17(a)(1) and 17(a)(2) of the

Act, in relevant part, prohibit an

affiliated person of a registered

investment company, or any affiliated

person of such a person, acting as

principal, from selling to or purchasing

from such registered company, any

security or other property. Section 17(b)

provides that the SEC may exempt a

transaction from section 17(a) if

evidence establishes that the terms of

the transaction, including the

consideration to be paid or received, are

reasonable and fair and do not involve

overreaching on the part of any person

concerned, that the proposed

transaction is consistent with the

policies of the investment company

concerned and with the general

purposes of the Act.

2. Rule 17a–8 generally exempts from

the prohibitions of section 17(a)

mergers, consolidations, or purchases or

sales of substantially all of the assets of

registered investment companies that

are affiliated persons, or affiliated

persons of an affiliated person, solely by

reasons of having a common investment

adviser, common directors, and/or

common officers, provided that certain

conditions are satisfied. Applicants may

not rely on rule 17a–8 because, under

section 2(a)(3)(D), Fred Alger and David

Alger are affiliated persons of the Trust

by virtue of their offices. Under section

2(a)(3)(B), the Fund may be an affiliated

person of each of Fred Alger and David

Alger by virtue of the fact that each may

be said indirectly (through Associates)

to own at least 5% of the Fund’s

outstanding shares. In addition, Fred

Alger also owns or controls, directly and

through trusts of which he is the trustee,

6.7% of the shares of the Fund, so that

the Fund may be said to be an affiliated

person of him on this basis as well.

Accordingly, the Fund may be

considered an affiliate person of an

affiliated person of the Trust. The Board

nonetheless reached the determinations

required by rule 17a–8. Specifically, the

Board determined that changing from a

corporation to a business trust was in

the best interest of the Fund, and that

the interests of existing shareholders of

the Fund would not be diluted as a

result of the transaction.

3. Applicants believe that the

proposed Reorganization is properly

viewed as a mere change in the form of

organization rather than as a disposition

of property giving rise to section 17(a)

concerns. Applicants also submit that

the Reorganization satisfies the

requirements of section 17(b). The Trust

was created specifically for the purpose

of effecting the Reorganization, and,

prior to the Reorganization, will be

simply a shell with nominal assets, no

liabilities, and no business operations.

The transfer of Fund shares for Trust

shares of identical value will leave Fund

shareholders with identical ownership

positions, and no additional

consideration will be paid by the Fund

or its shareholders for the Trust shares.

Because Fund shareholders will receive

interests in the Trust identical to their

previous interests in the Fund pursuant

to a tax-free transaction, with no

transaction costs or other charges

imposed on shareholders, no party to

the transaction will have the

opportunity to influence the actions of

the Fund or the Trust to the detriment

of shareholders. Accordingly, applicants

believe that the terms of the

Reorganization, including the

consideration to be paid and received,

are reasonable and fair and do not

involve overreaching on the part of any

persons concerned.

For the SEC, by the Division of

Investment Management, under

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–31380 Filed 12–27–95; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Applications of Capital Cargo

International Airlines, Inc. for Issuance

of New Certificate Authority

AGENCY: Department of Transportation.

ACTION: Notice of Order to Show Cause

(Order 95–12–29) Dockets OST–95–589

and OST–95–590.

SUMMARY: The Department of

Transportation is directing all interested

persons to show cause why it should

not issue orders (1) finding Capital

Cargo International Airlines, Inc., fit,

willing, and able, and (2) awarding it

certificates to engage in foreign charter

air transportation of property and mail

and interstate all-cargo air

transportation.

DATES: Persons wishing to file

objections should do so no later than

January 2, 1996.

ADDRESSES: Objections and answers to

objections should be filed in Dockets

OST–95–589 and OST–95–590 and

addressed to the Documentary Services

Division (C–55, Room PL–401), U.S.

Department of Transportation, 400

Seventh Street, SW, Washington, D.C.

20590 and should be served upon the

parties listed in Attachment A to the

order.

FOR FURTHER INFORMATION CONTACT: Ms.

Janet A. Davis, Air Carrier Fitness

Division (X–56, Room 6401), U.S.

Department of Transportation, 400

Seventh Street, SW, Washington, D.C.

20590, (202) 366–9721.

Dated: December 20, 1995

Mark L. Gerchick,

Acting Assistant Secretary for Aviation and

International Affairs.

[FR Doc. 95–31377 Filed 12–27–95; 8:45 am]

BILLING CODE 4910–62–P

Coast Guard

[CGD 95–087]

National Boating Safety Activities:

Funding for National Nonprofit Public

Service Organizations

AGENCY: Coast Guard, DOT.

ACTION: Notice of availability.
67156 Federal Register / Vol. 60, No. 249 / Thursday, December 28, 1995 / Notices

SUMMARY: The Coast Guard is seeking to

enter into financial assistance

agreements with national nonprofit

public service organizations to promote

boating safety on the national level. This

announcement seeks proposals for

projects that might be eligible for this

assistance.

DATES: Application packages may be

obtained on or after December 15, 1995.

Proposals must be received before 4:30

p.m. eastern time March 18, 1996.

ADDRESSES: Application packages may

be obtained from Coast Guard Customer

Infoline (800) 368–5647 or (202) 267–

0780 and proposals submitted to

Commandant (G–NAB–5), U.S. Coast

Guard Headquarters, 2100 Second Street

SW., Washington, DC 20593–0001.

FOR FURTHER INFORMATION CONTACT:

Ms. Betty Alley, Office of Navigation

Safety and Waterway Services, U.S.

Coast Guard (G–NAB–5/room 1202),

2100 Second Street SW., Washington,

DC 20593–0001; (202) 267–0954.

SUPPLEMENTARY INFORMATION: Title 26,

United States Code, section 9504,

establishes the Boat Safety Account of

the Aquatic Resources Trust Fund. The

Coast Guard may award up to 5 percent

of the available funds to national,

nonprofit, public service organizations

to promote national boating safety. It is

anticipated that $1,500,000 will be

available for fiscal year 1996. Seventeen

awards totalling $1,625,000 were made

in fiscal year 1995 ranging from $15,000

to $304,000. Nothing in this

announcement should be construed as

committing the Coast Guard to dividing

available funds among qualified

applicants or awarding any specified

amount.

It is anticipated that several awards

will be made by the Chief, Office of

Navigation Safety and Waterway

Services, U.S. Coast Guard. Applicants

must be nongovernmental, nonprofit,

public service organizations and must

establish that their activities are, in fact,

national in scope. An application

package may be obtained by writing or

calling the point of contact listed in

ADDRESSES on or after December 15,

1995. The application package contains

all necessary forms, an explanation of

how the grant program is administered,

and a checklist for submitting a grant

application. Specific information on

organization eligibility, proposal

requirements, award procedures, and

financial administration procedures

may be obtained by contacting the

person listed in FOR FURTHER

INFORMATION CONTACT.

Some general areas of continuing and

particular interest for grant funding

include the following:

1. Develop and Conduct a National

Annual Safe Boating Campaign. Coast

Guard seeks a grantee to develop and

conduct the 1997 year-round National

Annual Safe Boating Campaign that

targets boater market segments and

specific recreational boating safety

topics. This year-round campaign must

support the organizational objectives of

the Recreational Boating Safety program

to save lives, reduce the number of

boating accidents and associated health

care costs and support the nationwide

grassroots activity of the many volunteer

groups that coordinate local media

events, education programs, and public

awareness activities. Products must

include, but are not limited to, situation

analysis, evaluation processes, measures

of effectiveness, marketing strategy,

distribution plan, and final report. All

print, audio and video material must be

designed to emphasize multiple yearround boating safety and accident

prevention messages. Highlights of the

Calendar Year 1997 national campaign

must be special select materials and

activities to support National Safe

Boating Week and other selected boating

events. The major focus of the campaign

must be to encourage the use of Personal

Flotation Devices (PFDs), with special

emphasis on use by children. An

established portion of allocated grant

funds must support a National Boating

Accident Reporting Awareness Program

that is designed to reach all boaters and

has a message on the importance of

reporting all boating accidents. Efforts

must also be coordinated with other

national transportation safety activities,

in particular, those which focus on the

prevention of operating under the

influence of alcohol or drugs. Point of

Contact: Ms. Jo Calkin, (202) 267–0994.

2. Develop and Conduct a National

Recreational Boating Safety Outreach

and Awareness Conference. Coast Guard

seeks a grantee to plan, implement, and

conduct a National Recreational Boating

Safety Outreach and Awareness

Conference. This conference must

support the organizational objectives of

the Recreational Boating Safety Program

to save lives, reduce the number of

boating accidents, and lower associated

health care costs. The conference must

be scheduled for the spring of 1997 and

be held concurrent or consecutively

with a major recreational boating safety

aquatic symposium. The design of the

conference should enhance the

awareness and development of paid and

volunteer professionals; national, State,

and local boating safety program

organization leaders; and industry

specialists. It should provide a unifying

link between their programs to those on

the national level. The conference

should be a collaborative effort of

national organizations interested in the

betterment of boating and aquatic safety

and should include, but not be limited

to, plenary sessions, hands-on

workshops, and the distribution of a

report publication describing the

activities of the conference. Products

should include, but are not limited to,

evaluation processes, measures of

effectiveness, marketing strategy, and

final report. Point of Contact: Ms. Jo

Calkin, (202) 267–0994.

3. Market Multi-Use Waterway Guide.

In September 1993, the National Water

Safety Congress (NWSC) was awarded a

grant from the U.S. Coast Guard for the

development of a Comprehensive Guide

for Multiple Use Waterway

Management. This guide is designed to

assist government and private waterway

managers in the development of

comprehensive boating management

plans to resolve multiple-use conflicts.

It is to provide the framework for

balanced and defensible decisions in

developing and implementing plans,

policies, and regulatory actions that

result in improved boating safety,

quality of boating experience, and

sustained environmental quality. The

guide is to be completed in 1996.

A grant application is solicited to

disseminate the guide developed by

NWSC in the most efficient and

effective formats (paper, electronic, or

other) and to have it marketed and made

available in a manner that would result

in the most widespread and effective

use of the guide. Point of Contact: Mr.

Jeff Hoedt, (202) 267–0978.

4. Information Resources

Management: Recreational Boating

Safety Measures of Effectiveness Data

Capture Project Phase II. The Coast

Guard seeks a grantee to conduct the

second phase of a Recreational Boating

Safety Measures of Effectiveness (MOE)

project. The first phase (FY 1995)

identified the data needed to develop

the project. The second phase (FY 1996)

would be contingent on the findings of

the FY 1995 phase. If the FY95 grant

determines that the second phase of the

project is necessary, the grantee would

collect the data elements identified

under the FY95 project. The overall goal

of the 1996 project would be to

determine boat occupant exposure

hours for developing risk-based

measures of effectiveness for the

Recreational Boating Safety Program.

Point of Contact: Dr. Jerry Boden, (202)

267–0956.

5. Recreational Boating Accident

Health Care Cost Model. The Coast

Guard seeks grantee to develop and

design an injury cost model that will be
Federal Register / Vol. 60, No. 249 / Thursday, December 28, 1995 / Notices 67157

used to determine the societal costs of

recreational boating accidents. The grant

recipient would design a model that

will enable the U.S. Coast Guard to

perform analyses of boating injuries

using a sufficient and statistically valid

sample of injury data. The injury cost

model would be used to categorize

different types of injuries, their severity,

and their associated health care costs,

medical costs, legal costs, and

administrative costs for comparison

across various modes of transportation.

Point of Contact: Dr. Jerry Boden, (202)

267–0956.

6. Manufacturer’s Compliance

Improvement Project. The Coast Guard

seeks a grantee to plan and hold several

public workshops throughout the

United States to identify existing and

potential problems and to propose

solutions/approaches for the following

areas: (1) Development of boat

construction and safety standards; and

(2) the reporting of defects by

manufacturers, independent sources,

and customer outreach education

programs. Point of Contact: Mr. Gary

Larimer, (202) 267–0986.

7. Develop and Conduct Boating

Accident Seminars. The Coast Guard

seeks a grantee to develop and provide

instructional materials and conduct

training courses nationwide for boating

accident investigators, including three

courses at the Coast Guard Reserve

Training Center in Yorktown, Virginia.

Point of Contact: Mr. Gary Larimer,

(202) 267–0986.

8. Technology Comparison of

Propellers, Propeller Guards, and Pump

Jets. The Coast Guard seeks a grantee to

compile and analyze current available

research comparing the operating

efficiency, maneuverability

characteristics, and protection factors of

propeller/propeller guard combinations,

pump jets, after-market pump jet

installations, and conventional

propellers. Point of Contact: Mr. Gary

Larimer, (202) 267–0986.

9. Voluntary Standards Development

Support. The Coast Guard seeks a

grantee to carry out a program to

encourage active participation by

members of the public and other

qualified persons, in the development of

technically sound voluntary boating

safety standards. Point of Contact: Mr.

Gary Larimer, (202) 267–0986.

10. State/Federal/Boating

Organizations Cooperative Partnering

Efforts. The Coast Guard seeks grantees

to provide programs to encourage

greater participation and uniformity in

boating safety efforts. Applicants would

provide a forum to encourage greater

uniformity of boating laws and

regulations, reciprocity among

jurisdictions, and closer cooperation

and assistance in developing,

administering, and enforcing Federal

and State laws and regulations

pertaining to boating safety. Point of

Contact: Ms. Jeanne Timmons, (202)

267–0857.

Proposals addressing other boating

safety concerns are welcome. A more

detailed discussion of specific projects

of interest to the Coast Guard is

included in the application package

obtained under ADDRESSES. The Boating

Safety Financial Assistance Program is

listed in section 20.005 of the Federal

Domestic Assistance Catalog.

Dated: December 21, 1995.

Rudy K. Peschel,

Rear Admiral, U.S. Coast Guard, Chief, Office

of Navigation Safety and Waterway Services.

[FR Doc. 95–31373 Filed 12–27–95; 8:45 am]

BILLING CODE 4910–14–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

RTCA, Inc., Technical Management

Committee; Meeting

Pursuant to section 10(a)(2) of the

Federal Advisory Committee Act (Pub.

L. 92–463, 5 U.S.C., Appendix 2), notice

is hereby given for the RTCA Technical

Management Committee meeting to be

held January 16, 1996, starting at 9:00

a.m. The meeting will be held at RTCA,

Inc., 1140 Connecticut Avenue, NW.,

Suite 1020, Washington, DC, 20036.

The agenda will include: (1)

Chairman’s Remarks; (2) Review and

Approval of Summary of the Previous

Meeting; (3) Systems Management

Working Group Report to the Technical

Management Committee; (4) Consider

and Approve: a. Proposed Final Draft,

Minimum Operational Performance

Standards for Global Positioning

System/Wide Area Augmentation

System Airborne Equipment; b.

Proposed Final Draft, Minimum

Operational Performance Standards for

Aeronautical Mobile Satellite Services

(AMSS); c. Report from SC165/WG6

Concerning Feasibility of High

Frequency Data Link (HFDL) MASPS;

(5) Take Action on Open Items from

Previous Meeting: Consider White Paper

on RNP Issues and Recommendations;

(6) Other Business; (7) Date and Place of

Next Meeting.

Attendance is open to the interested

public but limited to space availability,

With the approval of the chairman,

members of the public may present oral

statements at the meeting. Persons

wishing to present statements or obtain

information should contact the RTCA

Secretariat, 1140 Connecticut Avenue,

NW., Suite 1020, Washington, DC

20036; (202) 833–9339 (phone) or (202)

833–9434 (fax). Members of the public

may present a written statement to the

committee at any time.

Issued in Washington, DC, on December

22, 1995.

Janice L. Peters,

Designated Official.

[FR Doc. 95–31416 Filed 12–27–95; 8:45 am]

BILLING CODE 4810–13–M

RTCA, Inc. Special Committee 184;

Minimum Performance and Installation

Standards for Runway Guard Lights

Pursuant to section 10(a)(2) of the

Federal Advisory Committee Act (Pub.

L. 92–463, 5 U.S.C., Appendix 2), Notice

is hereby given for a Special Committee

184 meeting to be held January 17, 1996,

starting at 9:30 a.m. The meeting will be

held at RTCA, 1140 Connecticut

Avenue, NW., Suite 1020, Washington,

DC, 20036.

The agenda will be as follows: (1)

Administrative Announcements; (2)

Chairman’s Introductory Remarks; (3)

Review and Approval of Meeting

Agenda; (4) Review and Approval of

Minutes of the Previous Meeting; (5)

Review Work Assignments from the

Previous Meeting; (6) Compile Material

into Full Working Draft Document; (7)

Other Business; (9) Date and Place of

Next Meeting.

Attendance is open to the interested

public but limited to space availability.

With the approval of the chairman,

members of the public may present oral

statements at the meeting. Persons

wishing to present statements or obtain

information should contact the RTCA

Secretariat, 1140 Connecticut Avenue,

N.W., Suite 1020, Washington, D.C.

20036; (202) 833–9339 (phone) or (202)

833–9434 (fax). Members of the public

may present a written statement to the

committee at any time.

Issued in Washington, DC, on December

22, 1995.

Janice L. Peters,

Designated Official.

[FR Doc. 95–31417 Filed 12–28–95; 8:45 am]

BILLING CODE 4810–13–M