18436 Federal Register / Vol. 60, No. 69 / Tuesday, April 11, 1995 / Notices

4 17 CFR 200.30–3(a)(12) (1994).

Washington, DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of OCC. All submissions should

refer to the file number SR–OCC–95–03

and should be submitted by May 2,

1995.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.4

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–8869 Filed 4–10–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 35–26265]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

April 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 1, 1995, to the Secretary, Securities

and Exchange Commission,

Washington, DC 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.

The Southern Company (70–8595)

Notice of Proposal to Issue Common

Stock; Order Authorizing Solicitation of

Proxies

The Southern Company (‘‘Southern’’),

64 Perimeter Center East, Atlanta,

Georgia 30346, a registered holding

company, has filed a declaration under

sections 6(a), 7 and 12(e) of the Act and

rules 54, 62 and 65 thereunder.

Souther proposes, from time to time

through December 31, 2005, to issue up

to one million shares of its common

stock, par value $5.00 per share

(‘‘Common Stock’’), pursuant to The

Outside Directors Stock Plan for

Subsidiaries of The Southern Company

(‘‘Plan’’). The Commons Stock to be

issued was authorized by order dated

November 2, 1993 (HCAR No. 25917)

(‘‘1993 Order’’). In addition, the 1993

Order authorizes Southern to acquire

Common Stock on the open market to

deliver to a director in accordance with

the Plan.

The Plan provides that any member of

the Board of Directors of a System

Company, defined in the Plan as

Alabama Power Company (‘‘Alabama

Power’’), Georgia Power Company

(‘‘Georgia Power’’), Gulf Power

Company (‘‘Gulf Power’’), Mississippi

Power Company (‘‘Mississippi Power’’)

and Savannah Electric and Power

Company (‘‘Savannah Electric’’), who is

not otherwise actively employed by

Southern or any of its subsidiaries or

affiliates shall receive a portion of his or

her annual retainer fee (‘‘Retainer Fee’’),

as set forth in the table below, in

unrestricted Common Stock of

Southern, with the remainder of the

Retainer Fee to be payable, in

increments elected by the director, in

cash or in unrestricted Common Stock

of Southern. Initially, annual Retainer

Fees for directors of the System

Companies are as follows:

Company

Annual

retainer

fee

Dollar

amount

of required

stock distribution

Albama Power .......... $20,000 $3,000

Georgia Power .......... 23,000 3,000

Gulf Power ................ 12,000 2,000

Mississippi Power ..... 12,000 2,000

Savannah Electric ..... 12,000 2,000

The board of directors of Southern has

adopted the Plan, subject to stockholder

approval. The Plan will be administered

by the Compensation Committee of the

board of directors of Southern

(‘‘Committee’’). The Committee will

have the discretion to interpret the Plan,

including any ambiguities contained

therein and, subject to its provisions, to

make all determinations necessary or

desirable for the Plan’s administration.

Outside directors shall have a onetime opportunity, pursuant to the Plan,

to elect the remaining portion of his or

her compensation in excess of the dollar

amount of required stock distribution to

be paid in Common Stock. Such

election shall be made on the form

provided to the director by the

Committee, which form shall

acknowledge that once made, such

election is irrevocable. Notwithstanding

the foregoing, if, when and as permitted

by the Commission, the Plan

Administrator may allow a Participant

to elect to change the amount of his or

her Retainer Fee paid in Common Stock;

provided, that such election shall not

affect the dollar amount of such

Participant’s required Common Stock

distribution.

Any Common Stock due to a

nonemployee director will be paid on a

quarterly basis, with the first such

quarterly distribution being made on

April 1 of each year and succeeding

quarterly distributions being made on

July 1, October 1, and January 1 of each

year. Notwithstanding the foregoing, for

purposes of the 1995 calendar year, no

stock distributions shall be made prior

to July 1, 1995; provided, however, that

for participants who are directors of

Alabama Power and Georgia Power the

stock distribution to be made on July 1,

1995 quarterly distributions.

The amount of Common Stock to be

distributed to a nonemployee director

pursuant to the Plan shall initially be

determined by first dividing the

director’s required and elected dollar

amount of Common Stock compensation

under the Plan by four and then

dividing such quarterly quotient by the

market value of the Common Stock on

the date one day prior to the date of

distribution, with subsequent

distributions based on such quarterly

quotient divided by the market value of

the Common Stock on the date one day

prior to the date of such subsequent

distributions. For purposes of valuing

such Common Stock, the term ‘‘market

value’’ shall mean the average of the

high and low prices of the Common

Stock, as published in the Wall Street

Journal in its report of New York Stock

Exchange composite transactions, on the

date such market value is to be

determined (or the average of the high

and low sale prices on the trading day

immediately preceding such date if the

Common Stock is not traded on the

applicable valuation date).

Southern further proposes to submit

the Plan for consideration and action by

its stockholders at the annual meeting of

such stockholders to be held on May 24,

1995, and in connection therewith, to

solicit proxies from its stockholders.

Consequently, Southern requests that

the effectiveness of its declaration with

respect to such solicitation of proxies be

permitted to become effective as soon as

practicable as provided in rule 62(d).
Federal Register / Vol. 60, No. 69 / Tuesday, April 11, 1995 / Notices 18437

Furthermore, Southern represents

that, pursuant to rule 54, all of the

criteria of rule 53 (a) and (b) are

satisfied.

It appearing to the Commission that

Southern’s declaration regarding the

proposed solicitation of proxies should

be permitted to become effective

forthwith, pursuant to rule 62:

It Is Ordered, that the declaration

regarding the proposed solicitation of

proxies be, and it hereby is, permitted

to become effective forth with, pursuant

to rule 62 and subject to the terms and

conditions prescribed in rule 24 under

the Act.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–8798 Filed 4–10–95; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Application No. 99000162]

Kline Hawkes California SBIC, L.P.;

Notice of Filing of An Application for

a License to Operate as a Small

Business Investment Company

Notice is hereby given of the filing of

an application with the Small Business

Administration (SBA) pursuant to

Section 107.102 of the Regulations

governing small business investment

companies (13 CFR 107.102 (1995)) by

Kline Hawkes California SBIC, L.P.,

11726 San Vicente Blvd., Suite 300, Los

Angeles, California 90049, for a license

to operate as a small business

investment company (SBIC) under the

Small Business Investment Act of 1958,

as amended, (15 U.S.C. et. seq.), and the

Rules and Regulations promulgated,

thereunder. Kline Hawkes California

SBIC, L.P. is a California limited

partnership.

The Applicant’s ultimate corporate

general partner will be Kline Hawkes

Management SBIC, Inc., located at the

same address as the Applicant. The

officers, directors, and owner of the

corporate general partner are:

Name Title Ownership

Frank R. Kline, Jr. ......................................................................... Chairman of Board, Managing Director ....................................... 100%

Edwin A. Moss .............................................................................. Director, Secretary, Managing Director ....................................... ...................

Jerome S. Engel ........................................................................... Director, Treasurer, Managing Director ....................................... ...................

Michael L. Luther, 4314 Marina City Drive, Marina Del Ray, CA

90292.

Director ......................................................................................... ...................

Thomas S. Volpe, 410 Occidental Avenue, San Mateo, CA

94402.

Director ......................................................................................... ...................

Messrs. Kline, Moss, and Engel have

offices at 17726 San Vicente Blvd., Suite

300, Los Angeles, California.

The officers and directors of the

Applicant’s manager, Kline Hawkes &

Company, are:

Name Title

Frank R. Kline, Jr. ..... Chairman of Board,

Managing Director.

Edwin A. Moss .......... Director, Secretary,

Managing Director.

Jerome S. Engel ....... Director, Treasurer,

Managing Director.

Thomas S. Volpe ...... Director.

Michael L. Luther ...... Director.

The following entity beneficially

owns or controls 10 percent or more of

the proposed SBIC’s Regulatory Capital:

Name: California Public Employees’

Retirement System, Lincoln Plaza—

400 P Street, Sacramento, California

95814

The applicant has total committed

capital of $30.0 million. It will be a

source of debt and equity financings for

qualified small business concerns, and

will invest primarily in the state of

California.

Matters involved in SBA’s

consideration of the application include

the general business reputation and

character of the proposed owners and

management, and the probability of

successful operations of the new

company under their management,

including profitability and financial

soundness in accordance with the Act

and Regulations.

Notice is hereby given that any person

may, not later than 15 days from the

date of publication of this Notice,

submit written comments on the

proposed SBIC to the Associate

Administrator for Investment, Small

Business Administration, 409 3rd Street,

SW, Washington, DC 20416.

A copy of this Notice will be

published in a newspaper of general

circulation in Los Angeles, California

(Catalog of Federal Domestic Assistance

Programs No. 59.011, Small Business

Investment Companies).

Dated: April 5, 1995.

Robert D. Stillman,

Associate Administrator for Investment.

[FR Doc. 95–8779 Filed 4–10–95; 8:45 am]

BILLING CODE 8025–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE–95–15]

Petitions for Exemption; Summary of

Petitions Received; Dispositions of

Petitions Issued

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received and of dispositions

of prior petitions.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption (14 CFR Part 11), this

notice contains a summary of certain

petitions seeking relief from specified

requirements of the Federal Aviation

Regulations (14 CFR Chapter I),

dispositions of certain petitions

previously received, and corrections.

The purpose of this notice is to improve

the public’s awareness of, and

participation in, this aspect of FAA’s

regulatory activities. Neither publication

of this notice nor the inclusion or

omission of information in the summary

is intended to affect the legal status of

any petition or its final disposition.

DATE: Comments on petitions received

must identify the petition docket

number involved and must be received

on or before April 21, 1995.

ADDRESS: Send comments on any

petition in triplicate to: Federal

Aviation Administration, Office of the

Chief Counsel, Attn: Rule Docket (AGC–

200), Petition Docket No. 28183, 800

Independence Avenue, SW.,

Washington, DC 20591.

The petition, any comments received,

and a copy of any final disposition are

filed in the assigned regulatory docket

and are available for examination in the