19104 Federal Register / Vol. 60, No. 72 / Friday, April 14, 1995 / Notices

1 15 U.S.C. § 78s(b)(1) (1988).

2Letter from John P. Barry, Associate Counsel,

NSCC, to Christine Sibille, Senior Counsel, Division

of Market Regulation, Commission (March 27,

1995).

Agreement (‘‘Reimbursement

Agreement’’) with the Bank. Pursuant to

a Reimbursement Agreement, SERI

would agree to reimburse the Bank party

thereto immediately or within a

specified period (not to exceed 60

months) after the date of the draw for all

amounts drawn under Letter of Credit,

together with accrued interest. The rate

of such interest would not exceed the

New York prime rate as published in

The Wall Street Journal plus 200 basis

points. Additionally, it is anticipated

that each Reimbursement Agreement

would require the payment by SERI to

the Bank of up-front fees not to exceed

$100,000 and annual fees not to exceed

11⁄4% of the face amount of the related

Letter of Credit.

In addition or as an alternative to the

security provided by a Letter of Credit,

SERI may pledge one or more new series

of its first mortgage bonds (‘‘Collateral

Bonds’’) under the Mortgage, as it may

be supplemented. These Collateral

Bonds may be interest-bearing or noninterest bearing. Such Collateral Bonds

would be non-interest bearing if the

principal amount issued were the same

as the principal of the underlying TaxExempt Bonds plus accumulated

interest for a specified period. The rate

on interest-bearing Collateral Bonds

may be less than or equal to the interest

rate on the underlying Tax-Exempt

Bonds.

As additional security for its

obligations under any Facilities

Agreement or to make payment on the

Collateral Bonds, SERI may assign its

interest in the Availability Agreement or

the Capital Funds Agreement. In any

such event, the Operating Subsidiaries

would be required to consent to and join

in such assignment.

SERI proposes to use the proceeds of

the sale of Tax-Exempt Bonds to

refinance certain pollution control

revenue bonds that were previously

issued to finance pollution control

facilities at the Grand Gulf nuclear

station.

The Cincinnati Gas & Electric

Company, et al. (70–8607)

The Cincinnati Gas & Electronic

Company (‘‘CG&E’’), an electric utility

subsidiary company of CINergy Corp.

(‘‘CINergy’’), a registered holding

company, and CG&E’s electric utility

subsidiary company, The Union Light,

Heat and Power Company (‘‘Union

Light’’) (together, ‘‘Operating

Companies’’), both located at 139 East

Fourth Street, Cincinnati, Ohio 45202,

have filed an application-declaration

under Sections 6(a) and 7 of the Act and

Rule 54 thereunder.

CG&E proposes to issue and sell

within certain parameters, from time-totime through March 31, 1996, an

aggregate principal amount not to

exceed $500 million of a combination of

senior unsecured indebtedness (‘‘Senior

Debentures’’) and junior unsecured

subordinated indebtedness (‘‘Junior

Securities’’). In addition, Union Light

proposes to issue and sell within certain

parameters, from time-to-time through

March 31, 1997, an aggregate principal

amount not to exceed $55 million of

unsecured indebtedness (‘‘Union

Debentures’’) (Union Debentures

together with Senior Debentures,

‘‘Senior Securities’’) (Senior Securities

together with Junior Securities,

‘‘Securities’’).

The Operating Companies have

several high coupon series of first

mortgage bonds and CG&E has preferred

stock that are, or will shortly become,

optionally redeemable and can be

refinanced through the issuance of

lower cost debt. Proceeds from the sale

of the Senior Securities and the Junior

Securities will be used respectively to

refund some or all of redeemable highcoupon debt issues and the preferred

stock. Any balance of net proceeds from

the sale of the Securities will be used for

general corporate purposes. Without

further Commission authorization, none

of the proceeds from the sale of the

Securities will be used by the Operating

Companies to acquire, directly or

indirectly, an interest in an exempt

wholesale generator (EWG) or foreign

utility company (FUCO) as respectively

defined in Sections 32 and 33 of the

Act.

The Senior Securities: (1) Will be

issued at a price no higher than 101.5%

nor less than 98% of the principal

amount, plus accrued interest, if any,

with underwriting commissions and

agents’ fees not to exceed 1.25% of the

principal amount; (2) may be issued in

one or more new series for terms not to

exceed 40 years; and (3) will be issued

at an interest rate which results in a

yield to maturity to the purchaser at the

initial offering price, depending on the

maturity of the security issued, of up to

a maximum of (a) 225 basis points for

the Senior Debentures, or (b) 200 basis

points for the Union Debentures, over

the yield to maturity on United States

Treasury Notes and United States

Treasury Bonds of comparable

maturities, payable semi-annually.

The Junior Securities: (1) Will be

issued at a price no higher than 101.5%

nor less than 98% of the principal

amount, plus accrued interest, if any,

with underwriting commissions and

agents’ fees not to exceed 3.50% of the

principal amount; (2) may be issued in

one or more new series for terms not to

exceed 40 years; and (3) will be issued

at an interest rate which results in a

yield to maturity to the purchaser at the

initial offering price, depending on the

maturity of the security issued, of up to

a maximum of 225 basis points over the

yield to maturity on United States

Treasury Notes and United States

Treasury Bonds of comparable

maturities. Interest on the Junior

Securities will be paid on either a

monthly, quarterly, semi-annual or

annual basis, and CG&E may have the

right to defer payment of interest on its

Junior Securities for up to five years

under certain circumstances.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9191 Filed 4–13–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35577; File No. SR–NSCC–

95–3]

Self-Regulatory Organizations;

National Securities Clearing

Corporation; Notice of Filing of

Proposed Rule Change Relating to

Implementation of a Three-Day

Settlement Standard

April 6, 1995.

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

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

March 1, 1995, the National Securities

Clearing Corporation (‘‘NSCC’’) filed

with the Securities and Exchange

Commission (‘‘Commission’’) a

proposed rule change as described in

Items I, II, and III below, which items

have been prepared primarily by NSCC.

On March 27, 1995, NSCC filed an

amendment to the proposed rule

change.2 The Commission is publishing

this notice to solicit comments on the

proposed rule change from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

NSCC proposes to modify its rules to

implement a three business day

settlement standard for securities

transactions.
Federal Register / Vol. 60, No. 72 / Friday, April 14, 1995 / Notices 19105

3Securities Exchange Act Release Nos. 33023

(October 6, 1993), 58 FR 52891 (adopting Rule

15c6–1) and 34952 (November 9, 1994, 59 FR 59137

(changing effective date from June 1, 1995, to June

7, 1995).

4Procedures III.D (exercise of options), VII.B,

VII.C, XIII, and Addendum K. In addition the time

frame for NSCC’s guarantee of trades contained in

addendums K and M will begin on T+2 and instead

of T+4.

5Procedures II.I.2 and 3, and III.C.

6Procedures II.B.1(c) (Regular Way NYSE/Amex

Equity Securities), II.C.2(f) (Regular Way over the

Counter and Other Exchange Equity Securities),

II.D.2(i) (Debt Securities), and III.E (Correction of

NYSE (Odd-Lot Trades).

7Rule 50, Section 10.

8Procedure VI.A.

9Procedure VII.G.2.

10Procedure VII.K.

11For example, the language ‘‘Rules 8, 9, and 10’’

contained in Rule 1’s definition of Balance Order

System will be amended to read ‘‘these Rules.’’

II. Self-Regulatory Organization’s

Statement of the Purpose of and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

NSCC 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. NSCC 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

In October 1993 the Commission

adopted Rule 15c6–1 under the Act

which will become effective June 7,

1995.3 The rule establishes three

business days after the trade date

(‘‘T+3’’), instead of five business days

(‘‘T+5’’), as the standard settlement

cycle for most securities transactions.

The primary purpose of the proposed

rule change is to modify NSCC’s Rules

and Procedures consistent with Rule

15c6–1 under the Act. Accordingly,

many of NSCC’s Rules and Procedures

that include time references are being

revised to accommodate processing in a

T+3 time frame.

For example, the proposed rule will

change references from a five day

settlement to a three day settlement time

frame 4 or will delete reference to five

day settlement.5 Trades compared after

such time as established on T+4, will

not be included in the normal

settlement cycle.6 Under Procedures V.B

and VI.B, all transactions entered into

the balance order accounting operation

or the foreign security accounting

operation on T+2, rather than T+4, or

thereafter will be processed on a tradefor-trade basis. The proposed rule

change also will amend Rule 11, Section

8(d) to require an ‘‘as of’’ trade to be

entered at least two business days,

instead of four business days, prior to

the payable date to be provided

dividend protection. Under Procedure

V.C, only trade in balance orders

executed on the New York Stock

Exchange (‘‘NYSE’’), American Stock

Exchange (‘‘Amex’’), and Over-theCounter (‘‘OTC’’) compared on T and

T+1 will be netted rather than trades

from T through T+4, and the net balance

orders will be issued on T+2 instead of

T+4. Continuous Net Settlement

(‘‘CNS’’) eligible items will be entered

into the CNS accounting operation for

transfers through NSCC’s Automated

Customer Account Transfer Service

(‘‘ACATS’’) on T+1 instead of T+3.7 All

time frames contained in Procedure

VII.H.4(b) relating to voluntary

corporate reorganizations will be

shortened by two days.

Under Section II.B.1(c) of NSCC’s

Procedures, NSCC is proposing that the

adjustment contract totals represent the

combined input for T through T+2,

instead of T+3, that is compared. Trades

reported on the Consolidated Trade

Summary will include trades compared

through T+1, instead of T+3.8 As-oftrades submitted two, instead of four,

days prior to payable date will be

included in the dividend activity

report.9 The date a member is informed

of its potential liability from a short

position will be changed from T+2.10

The proposed rule change also makes

certain ancillary modifications to

NSCC’s Rules and Procedures in order

to delete references to obsolete services,

procedures, forms, and methods of

communication. All references to the

SCC Division of the NSCC are being

eliminated. The SCC was one of the

predecessors of the NSCC and its rules

were incorporated into the NSCC’s

rules. At the time of the NSCC’s

formation, to ease the transition, NSCC

retained the reference to the SCC by

indicating that the rules were for the

SCC Division. It is no longer necessary

to include these references.

Cross references to specific rules

which contain timing provisions are

being eliminated in order to avoid

inconsistencies in the event such rules

are subsequently amended. Instead,

references are being changed to refer to

the rules generally.11 Furthermore, the

clauses beginning with ‘‘up to and

including’’ in the definitions of

‘‘Comparison Operation’’, ‘‘Foreign

Security Accounting Operation’’, and

‘‘Balance Order Accounting Operation’’

also are being eliminated in order to

avoid possible inconsistencies caused

by future amendments of the rules.

The definitions of ‘‘Basket Trade’’ and

‘‘Mini Basket’’ contained in Rule 1 are

being deleted because the NYSE no

longer offers these types of products and

therefore NSCC does not clear it.

Accordingly, references to Basket

Trades and Mini Baskets contained in

Sections II.A and H of the Procedures

and Addendum A, Section 1.E, fees for

processing these trades, are being

deleted.

Non-members have not requested to

use NSCC’s facility to pay New York

State Transfer Taxes in over 10 years.

Furthermore, automation of the tax

payment process makes it impractical

for non-members to pay the taxes

through NSCC. Accordingly, references

to non-members’ ability to use this

service are being eliminated from the

rules. Rule 3, Section 2, and Rules 14

and 26 are being amended to reflect this

change. Addendum A, Section III.E is

being changed to reflect the fact that for

many years NSCC has accepted forms

from members, not envelopes, for filing

New York State Transfer Taxes. This

change does not affect members in any

way.

Rule 4, Section 1 is being amended

because NSCC has limited the number

of banks which can hold securities

pledged by members for the Clearing

Fund. These banks are chosen by NSCC

and not by the members. This change

was implemented in order to manage

the Clearing Fund more effectively.

There are several places throughout

the rules where changes are being made

to reflect the continuing automation of

systems and the elimination of paper

intensive processes. These include the

elimination of the use of certain forms,

changing references to data received

rather than tickets delivered, and

elimination of the requirement of

acknowledging transactions through

paper submission. Such changes can be

found in the following sections:

Rule 5 Section 1

Rule 7 Section 3 (Eliminates need of member

to confirm to NSCC contract list)

Rule 12 Section 1

Rule 18 Section 2 and 3 (Eliminates return

of tickets when NSCC ceases to act for a

member)

Procedures Section VII.D.2(c)

Procedures Section VII.I

Procedures Sections VIII.A and B (Eliminates

clearance/settlement statement)

Procedures Section X.B

Procedures Section XIV

Addendum A Section IV.S and V.B

Addendum C Section 1

Certain rules are being amended to

clarify that NSCC has the right to deny
19106 Federal Register / Vol. 60, No. 72 / Friday, April 14, 1995 / Notices

12See, e.g., NYSE Rules 175–226.

13Currently, no officers have been designated.

Letter from John P. Barry, Associate Counsel, NSCC,

to Jonathan Kallman, Associate Director, Division of

Market Regulation, Commission (March 27, 1995).

14Securities Exchange Act Release No. 34952

(November 9, 1994), 59 FR 59137.

access to additional services to members

who are not currently using the service

if NSCC does not have adequate

capability to perform that service. Rule

2, Section 3 and Section IV.D of the

Procedures are being revised

accordingly. Rule 5, Section 2 is being

amended to reflect the current practice

that NSCC prepares all checks being

sent to members.

The exchanges and the NASD have

rules concerning good delivery of

physical securities.12 NSCC needs to be

consistent with such rules. Therefore,

Rule 9, Section 1.9 and Rule 44, Section

7 are being amended to require that

deliveries must meet such good delivery

requirements. Rule 44, Sections 8–39,

which contain NSCC’s rules on good

delivery, are being deleted.

Since the dissemination of

Addendum F, members who have failed

timely to pay amounts due have been

required to settle amounts, if greater

than $100,000, in Federal Funds. Rule

12, Section 1 is now being amended to

reflect this longstanding practice.

Addendum F also is being amended to

reflect this change.

Rule 13 permits a member to charge

an amount to its account at NSCC. Rule

13 is being deleted because the Marking

to Market Service was discontinued

several years ago. Since that time,

members may use NSCC’s Funds Only

Settlement Service to achieve the same

objective.

Rule 17 is being deleted because the

Signature Distribution Service was

never implemented and has been made

obsolete with the introduction of

current Medallion Program.

Rule 18, Section 2, requires that all

closeouts be completed within two

business days when NSCC ceases to act

for a member. This is not always

possible without disrupting the

marketplace. This rule accordingly is

being amended to indicate that

closeouts will be completed promptly.

Because of the increase in the number

of vice presidents at NSCC, Rule 22 is

being amended to provide that only the

board of directors, the chairman of the

board, the president, any executive vice

president, and certain designated

officers of NSCC may suspend the Rules

when necessary or expedient. NSCC

will inform the Commission of any

change in the officers designated to

suspend the Rules.13 Similarly, Rule 23

is being amended to provide that except

where action of the board of directors is

specifically required, only the chairman,

the president, any executive vice

president, the secretary, and certain

designated officers may take action on

behalf of NSCC.

The Procedures are being amended to

include references to when-distributed

transactions, which result from stock

splits and are treated in the same

manner as when-issued transactions.

These references are in Section II.A and

E of NSCC’s Procedures. Section II.E.2

also is being amended to clarify that the

settlement date for corporate debt new

issues will be established by the

appropriate regulatory authority.

Currently, Section II.G of the

Procedures requires that NSCC’s

Reconfirmation and Pricing Service

(‘‘RECAPS’’) be run quarterly. It is the

intention of NSCC to continue this

practice. However, the rule is being

amended to provide for runs from timeto-time to provide flexibility in the

event of operational necessities.

The CNS Accounting Operation no

longer uses sub-accounts for the

settlement of option exercises. Section

III.D of the Procedures is being amended

to reflect this practice.

As has been the practice for many

years, members typically deliver

securities to The Depository Trust

Company (‘‘DTC’’) to cover short

positions, instead of NSCC. Therefore

Procedures VII.C.5, G.3, and H.7 are

being amended to eliminate NSCC’s

Delivery to Clearing Service.

A change is being made to Section

VII.F.2 of the Procedures to conform the

rules to the practice that Net CNS

Money Settlement Amounts calculated

by members may be verified against the

Settlement Activity Statement but are

not required to be verified.

Section IX.A of the Procedures is

being amended to eliminate the ability

of members to select an alternate

clearing corporation on an item-by-item

basis. Members designate a single

location for delivery of output records,

and item-by-item designation would be

too inefficient.

Generally, sponsored members

deposit their securities directly with

DTC. However, NSCC may require that

certain securities be submitted to NSCC

before being deposited with DTC on

behalf of such member. Section IX.B of

the Procedures is being changed to

reflect this practice.

NSCC has not offered a P&S service

for direct clearing for several years.

Section IX.D is therefore being deleted

from the Procedures. Furthermore,

conforming amendments are being made

to Section IX.E of the Procedures,

Section IV of Addendum A (to eliminate

fees for Remote Trade Comparison

Handling and Preparation of T+1 input),

and Section V.B of Addendum A (to

eliminate fees for options cage

processing and stock loan rebate

payment service).

Section III of Addendum A is being

amended to delete references to the

Jersey City office which no longer exists.

Section V.B of Addendum A is being

amended to delete fees for hard copy

output which are no longer charged.

Addendum C is being amended in

two places to reflect changes in

procedures. First, NSCC no longer

borrows physical securities for the

settlement of non-DTC eligible items.

Therefore Section 1 is being modified to

eliminate these references. Second, the

CNS sub-account designations have

been changed from 9000 and 6000 to

‘‘D’’ and ‘‘C’’, respectively. Therefore

Section 3 is being updated.

An additional purpose of the filing,

although not included as part of Exhibit

A, is to indicate NSCC’s intention to

alphabetize the section of definitions

contained in NSCC’s Rules and

Procedures.

The proposed changes will take effect

with the implementation of T+3 on June

7, 1995, consistent with the conversion

time frame established by the

Commission.14 The schedule is as

follows:

Trade date

Settlement

cycle

Settlement date

June 2 Friday .. 5 day .... June 9 Friday.

June 5 Monday 4 day .... June 9 Friday.

June 6 Tuesday.4 day .... June 12 Monday.

June 7

Wednesday.

3 day .... June 12 Monday.

The proposed rule change is

consistent with the requirements of the

Act, and the rules and regulations

thereunder, since it will facilitate the

prompt and accurate clearance and

settlement of securities transactions.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition.

NSCC does not believe that the

proposed rule change will have an

impact on or impose a burden on

competition.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Chance Received From

Members, Participants or Others.

No written comments relating to the

proposed rule change have been

solicited or received. NSCC will notify
Federal Register / Vol. 60, No. 72 / Friday, April 14, 1995 / Notices 19107

the Commission of any written

comments received by NSCC.

III. Date of Effectiveness of the

Proposed Rule Chance and Timing for

Commission Action

Within thirty-five 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

ninety 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 change or

(B) institute proceedings to determine

whether the proposed rule change

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

Commissin, 450 Fifth Street N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with provisions of

5 U.S.C. 552, will be available for

inspection and copying in the

Commission’s Public Reference Room in

Washington, D.C. Copies of such filing

will also be available for inspection and

copying at the principal office of NSCC.

All submissions should refer to File No.

SR–NSCC–95–03 and should be

submitted by May 5, 1995.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9231 Filed 4–13–95; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Hartford District Advisory Council

Meeting; Public Meeting

The U.S. Small Business

Administration Hartford District

Advisory Council will hold a public

meeting on Monday, May 15, 1995 at

8:30 a.m. at 2 Science Park, New Haven,

Connecticut 06511, to discuss matters as

may be presented by members, staff of

the U.S. Small Business Administration,

or others present.

For further information, write or call

Ms. Jo-Ann Van Vechten, District

Director, U.S. Small Business

Administration, 330 Main Street,

Hartford, Connecticut, (203) 240–4670.

Dated: April 10, 1995.

Dorothy A. Overal,

Director, Office of Advisory Council.

[FR Doc. 95–9280 Filed 4–13–95; 8:45 am]

BILLING CODE 8025–01–M

Casper District Advisory Council

Meeting; Public Meeting

The U.S. Small Business

Administration Casper District Advisory

Council will hold a public meeting on

Thursday, May 4, 1995 from 2:00 p.m.

to 5:00 p.m. which will be a training

session, and Friday, May 5, 1995, 8:00

a.m. to 3:00 p.m., regularly scheduled

meeting at the Parkway Plaza, 123 West

‘‘E’’ Street, Casper, Wyoming, to discuss

matters as may be presented by

members, staff of the U.S. Small

Business Administration, or others

present.

For further information, write or call

Mr. James P. Gallogly, District Director,

U.S. Small Business Administration,

100 East ‘‘B’’ Street, P.O. Box 2839,

Casper, Wyoming 82602–2839, (307)

261–5761.

Dated: April 10, 1995.

Dorothy A. Overal,

Director, Office of Advisory Council.

[FR Doc. 95–9281 Filed 4–13–95; 8:45 am]

BILLING CODE 8025–01–M

DEPARTMENT OF STATE

[Public Notice 2190]

Advisory Committee on Historical

Diplomatic Documentation; Notice of

Meeting

The Advisory Committee on

Historical Diplomatic Documentation

will meet May 11 and 12, 1995, in the

Department of State, in Conference

Room 1105.

The Committee will meet in open

session from 9:00 a.m. on the morning

of Thursday, May 11, 1995, until 12:00

noon. The remainder of the Committee’s

session until 1:00 p.m. Friday, May 12,

will be closed in accordance with

Section 10(d) of the Federal Advisory

Committee Act (P.L. 92–463). It has

been determined that discussions

during these portions of the meeting

will involve consideration of matters

not subject to public disclosure under 5

U.S.C. 552b(c)(1), and that the public

interest requires that such activities will

be withheld from disclosure.

Questions concerning the meeting

should be directed to William Z. Slany,

Executive Secretary, Advisory

Committee on Historical Diplomatic

Documentation, Department of State,

Office of the Historian, Washington, DC

20520, telephone (202) 663–1123.

Dated: April 7, 1995.

William Z. Slany,

Executive Secretary.

[FR Doc. 95–9207 Filed 4–13–95; 8:45 am]

BILLING CODE 4710–11–M

DEPARTMENT OF TRANSPORTATION

Federal Highway Administration

Environmental Impact Statement: Cook

Will, Kankakee, Grundy, Livingston,

McLean, Logan, Sangamon, Macoupin,

Jersey, Madison, and St. Clair

Counties, IL

AGENCY: Federal Highway

Administration, DOT.

ACTION: Notice of intent.

SUMMARY: The Federal Highway

Administration (FHWA) is issuing this

notice to advise the public that an

Environmental Impact Statement (EIS)

will be prepared for the development of

high speed rail (HSR) passenger

operations between Chicago, Illinois,

and St. Louis, Missouri. The proposed

project study area will extend from

downtown Chicago on the north to

downtown St. Louis on the south.

FOR FURTHER INFORATION CONTACT:

Mr. Dennis W. Johnson, Environmental

Engineer, Federal Highway

Administration, Illinois Division,

3250 Executive Park Drive,

Springfield, Illinois 62703, Telephone

(217) 492–4625

or:

Mr. Merrill L. Travis, Chief, Bureau of

Railroads, Illinos Department of

Transportation (DOT), 2300 South

Dirksen Parkway, Room 302,

Springfield, Illinos 62764, Telephone

(217) 782–2835

or:

Mr. Michael E. Stead, High Speed Rail

Manager, Illinois Department of

Transportation (DOT), 2300 South

Dirksen Parkway, Room 302,

Springfield, Illinois 62764, Telephone

(217) 785–8498

SUPPLEMENTARY INFORMATION: The

proposed action is to develop a high

speed rail passenger operation between

Chicago and St. Louis. The proposed