Federal Register / Vol. 60, No. 30 / Tuesday, February 14, 1995 / Notices 8387

• Rate Reductions: TACA would

suspend all rate increases implemented

under its 1995 Business Plan.

Specifically, within fifteen (15) days

after approval of the settlement by the

Commission, TACA would reduce its

current tariff rates to those in effect on

December 31, 1994. In addition, the

Conference would offer to amend

current service contracts to undo 1995

rate increases and replace them with the

rates offered in 1994. The suspension of

the 1995 increases would remain in

effect through December 31, 1995, for

both tariff rates and service contract

rates. In a joint memorandum in support

of the settlement proposal, Hearing

Counsel estimate that the value to the

shipping public of the rate reductions

would be $60–70 million, depending on

such factors as cargo volumes and trade

growth.

• Service Contracts: (1) TACA

agreement provisions would be revised

to provide that shippers may negotiate

with the carrier of the shippers’ choice;

however, the Conference Secretariat

could elect to participate in such

negotiations. (2) NVOCC service

contracts would be amended to remove

volume caps and geographic limits. (3)

TACA would offer to remove or revise

certain restrictions in existing service

contracts, including 7-day booking

notice requirements and requirements

that cargo must be owned by the

shipper. (4) TACA may not adopt a

general policy of treating shippers who

did not sign service contracts in a prior

period less favorably than those who

did sign contracts.

• IA: TACA agreement provisions

would be revised as follows: (1) When

a TACA member communicates an IA

rate to the Conference Secretariat, the

Secretariat would be required to publish

the IA rate immediately, rather than first

notifying other members. (2) The lines

could not agree that they must discuss

IA with other members. (3) Each line

would be free to designate who within

its company is authorized to take IA. (4)

Quarterly IA reporting would be made

to the Commission.

• Withdrawal from Discussion

Agreements: the TACA lines would

withdraw from membership in, or

cancel, a number of rate discussion and

rate-setting agreements, including the

Eurocorde Discussion Agreement, FMC

No. 202–010829, and the Gulfway

Agreement, FMC No. 203–011141,

which authorize discussions about rates

between TACA lines and independent

lines.

Furthermore, under the settlement,

the TACA lines would also eliminate

much of their current broad space

charter authority; instead, long-term

charter arrangements between

Conference lines would be covered by

separate and discrete filed agreements.

Also, all connecting carrier agreements

with NVOCCs would be cancelled, and

applicable tariffs and service contracts

would set forth the terms by which

containers and equipment will be made

available to shippers. Beginning in

September 1995, representatives of

TACA and the Commission would meet

semi-annually to discuss TACA

activities and plans.

As with the proposed rate reductions,

the settlement agreement ties the

proposed changes to TACA to the date

of any settlement approval by the

Commission.

As a matter of clarification, it should

be noted that the amendments to TACA

called for by the settlement are in

addition to those which the Commission

obtained from the Conference in

October 1994, i.e.:

• removal of the Conference’s

‘‘capacity regulation’’ program, whereby

the TACA lines had withheld part of

their vessel capacity from the shippers;

• authorization allowing Conference

carriers not participating in a TACA

service contract to unilaterally negotiate

different rates with the shippers during

a 15-day window following filing of the

TACA contract;

• reduction of the IA notice on rates

from five to three days;

• reduction of the number of

Conference carriers required to approve

a service contract from a ‘‘majorityminus-two’’ formula to five favorable

votes;

• outright elimination of the 100 TEU

or $100,000 minimum volume or value

requirement for service contracts; and

• the deletion of provisions

authorizing TACA carriers to

collectively negotiate with inland

carriers concerning European inland

segments of through transportation, and

to enter into agreements with other

parties.

The Commission believes that this

solicitation of public comment pursuant

to the agency’s amicus curiae procedure

is warranted by the general importance

of the TACA investigations, which

require us to consider any settlement

under broad public interest

considerations as well as by the usual

settlement criteria such as cost savings

and effective law enforcement. For that

reason and because the rate reduction

and other provisions of the settlement

could have a direct and immediate

effect on the economic interests of

shippers currently doing business with

TACA, the Commission wishes to allow

an opportunity for any interested person

to express its opinion on the settlement

before we act upon it. The Commission

has already received comments

opposing the settlement from the

National Industrial Transportation

League, Container Freight International

I/S and Danish Consolidation Services,

and favorable comments from the North

American Shippers Association, Inc.,

and the New York/New Jersey Foreign

Freight Forwarders and Brokers

Association, Inc. These comments will

be considered as filed in response to

this Order, and need not be refiled.

As a matter of fairness to all parties,

the Commission wishes to resolve the

status of this proposed settlement as

quickly as possible. For that reason,

comments from shippers and other

interested persons must be received by

the Commission no later than February

21, 1995. The Commission intends to

meet on the settlement on February 24,

1995.

Therefore, it is ordered, That pursuant

to Rule 76 of the Commission’s Rules of

Practice and Procedure, 46 CFR 502.76,

the Commission hereby grants

permission to any interested person to

file comments as amicus curiae on the

proposed settlement of these

proceedings;

It is further ordered, That an original

and fifteen copies of such comments

must be physically lodged with the

Secretary of the Commission on or

before February 21, 1995.

By the Commission.

Joseph C. Polking,

Secretary.

[FR Doc. 95–3754 Filed 2–13–95; 8:45 am]

BILLING CODE 6730–01–M

FEDERAL RESERVE SYSTEM

City Holding Company; Notice of

Application To Engage de novo in

Permissible Nonbanking Activities

The company listed in this notice has

filed an application under § 225.23(a)(1)

of the Board’s Regulation Y (12 CFR

225.23(a)(1)) for the Board’s approval

under section 4(c)(8) of the Bank

Holding Company Act (12 U.S.C.

1843(c)(8)) and § 225.21(a) of Regulation

Y (12 CFR 225.21(a)) to commence or to

engage de novo, either directly or

through a subsidiary, in a nonbanking

activity that is listed in § 225.25 of

Regulation Y as closely related to

banking and permissible for bank

holding companies. Unless otherwise

noted, such activities will be conducted

throughout the United States.

The application is available for

immediate inspection at the Federal

Reserve Bank indicated. Once the
8388 Federal Register / Vol. 60, No. 30 / Tuesday, February 14, 1995 / Notices

application has been accepted for

processing, it will also be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether consummation of the

proposal can ‘‘reasonably be expected to

produce benefits to the public, such as

greater convenience, increased

competition, or gains in efficiency, that

outweigh possible adverse effects, such

as undue concentration of resources,

decreased or unfair competition,

conflicts of interests, or unsound

banking practices.’’ Any request for a

hearing on this question must be

accompanied by a statement of the

reasons a written presentation would

not suffice in lieu of a hearing,

identifying specifically any questions of

fact that are in dispute, summarizing the

evidence that would be presented at a

hearing, and indicating how the party

commenting would be aggrieved by

approval of the proposal.

Comments regarding the application

must be received at the Reserve Bank

indicated or the offices of the Board of

Governors not later than February 28,

1995.

A. Federal Reserve Bank of

Richmond (Lloyd W. Bostian, Jr., Senior

Vice President) 701 East Byrd Street,

Richmond, Virginia 23261:

1. City Holding Company, Charleston,

West Virginia; to engage de novo in

providing to non-affiliated financial

institutions data processing services for

processing the user bank’s deposit and

loan applications pursuant to §

225.25(b)(7) of the Board’s Regulation Y.

These activities will take place in West

Virginia, Ohio, Kentucky, Virginia,

Maryland, and Pennsylvania.

Board of Governors of the Federal Reserve

System, February 8, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–3614 Filed 2–13–95; 8:45 am]

BILLING CODE 6210–01–F

Carl L. Frickey, et al.; Change in Bank

Control Notices; Acquisitions of

Shares of Banks or Bank Holding

Companies

The notificants listed below have

applied under the Change in Bank

Control Act (12 U.S.C. 1817(j)) and §

225.41 of the Board’s Regulation Y (12

CFR 225.41) to acquire a bank or bank

holding company. The factors that are

considered in acting on the notices are

set forth in paragraph 7 of the Act (12

U.S.C. 1817(j)(7)).

The notices are available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

notices have been accepted for

processing, they will also be available

for inspection at the offices of the Board

of Governors. Interested persons may

express their views in writing to the

Reserve Bank indicated for that notice

or to the offices of the Board of

Governors. Comments must be received

not later than March 10, 1995.

A. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198:

1. Carl L. Frickey, trustee of the Carl

L. Frickey Revocable Trust, Oberlin,

Kansas; to acquire an additional 8.33

percent, for a total of 26.36 percent, of

the voting shares of Farmers Bancshares

of Oberlin, Inc., Oberlin, Kansas, and

thereby indirectly acquire Farmers

National Bank of Oberlin, Oberlin,

Kansas.

B. Federal Reserve Bank of Dallas

(Genie D. Short, Vice President) 2200

North Pearl Street, Dallas, Texas 75201-

2272:

1. Western Bank Las Cruces Employee

Stock Ownership Plan, Las Cruces, New

Mexico; to acquire an additional 13.8

percent, for a total of 16.86 percent, of

the voting shares of Western Bancshares

of Las Cruces, Inc., Carlsbad, New

Mexico, and thereby indirectly acquire

Western Bank, Las Cruces, New Mexico.

Board of Governors of the Federal Reserve

System, February 8, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–3615 Filed 2–13–95; 8:45 am]

BILLING CODE 6210–01–F

Valrico Bancorp, Inc.; Formation of,

Acquisition by, or Merger of Bank

Holding Companies

The company listed in this notice has

applied for the Board’s approval under

section 3 of the Bank Holding Company

Act (12 U.S.C. 1842) and § 225.14 of the

Board’s Regulation Y (12 CFR 225.14) to

become a bank holding company or to

acquire a bank or bank holding

company. The factors that are

considered in acting on the applications

are set forth in section 3(c) of the Act

(12 U.S.C. 1842(c)).

The application is available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

application has been accepted for

processing, it will also be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing to the

Reserve Bank indicated for that

application or to the offices of the Board

of Governors. Any comment on an

application that requests a hearing must

include a statement of why a written

presentation would not suffice in lieu of

a hearing, identifying specifically any

questions of fact that are in dispute and

summarizing the evidence that would

be presented at a hearing.

Comments regarding this application

must be received not later than March

10, 1995.

A. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. Valrico Bancorp, Inc., Valrico,

Florida; to become a bank holding

company by acquiring 100 percent of

the voting shares of Valrico State Bank,

Valrico, Florida.

Board of Governors of the Federal Reserve

System, February 8, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–3616 Filed 2–13–95; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL TRADE COMMISSION

Application to Office of Management

and Budget for Clearance of

Information Collection Requirements

Contained in Proposed Telemarketing

Sales Rule

AGENCY: Federal Trade Commission

(‘‘FTC’’).

ACTION: Notice of application to the

Office of Management and Budget

(‘‘OMB’’) under the Paperwork

Reduction Act (44 U.S.C. 3501 et seq.)

for clearance of information collection

requirements contained in a proposed

trade regulation rule pursuant to the

Telemarketing and Consumer Fraud and

Abuse Prevention Act.

SUMMARY: The FTC is seeking OMB

clearance for information collection

requirements contained in proposed

regulations implementing the

Telemarketing and Consumer Fraud and

Abuse Prevention Act, 15 U.S.C. 6101–

6108 (‘‘Telemarketing Act’’ or ‘‘the

Act’’).

The Telemarketing Act requires the

Commission to issue a rule prohibiting

deceptive and abusive telemarketing

acts and practices. Section 3(a)(1). In

accordance with the statutory directive,

the Commission is proposing a rule that

prohibits various misrepresentations

and other deceptive and abusive acts

and practices and that imposes various

disclosure and recordkeeping

requirements on affected entities.

Specifically, the proposed rule

requires that affected entities retain

certain records for a two-year period.

These records include advertising,