32882 Federal Register / Vol. 61, No. 123 / Tuesday, June 25, 1996 / Notices

2See Phlx Rule 1001A(c).

3See Securities Exchange Act Release Nos. 36577

(December 12, 1995), 60 FR 65705 (December 20,

1995) (reducing the value of the Phlx National

Over-the-Counter Index); and 35999 (July 20, 1995),

60 FR 38387 (July 26, 1995) (reducing the value of

the Phlx Semiconductor Index).

4Specifically, because the Index value would be

less than 500, the applicable strike price interval

would be $5 in the first four months and $25 in the

fifth month and the long-term options. See Rule

1101A(a). 5 17 CFR 200.30–3(a)(12).

original strike price. For instance, the

holder of a HFX 420 call will receive

three HFX 140 calls. In addition to the

strike price being reduced by one-third,

the position and exercise limits

applicable to the HFX will be tripled,

from 5500 contracts 2 to 16,500

contracts, for a six month period after

the split is effectuated. The procedure is

similar to the one employed respecting

equity options where the underlying

security is subject to a two-for-one stock

split, as well as previous reductions in

the value of other Phlx indexes.3 The

trading symbol will remain HFX.

In conjunction with the split, the

Exchange will list strike prices

surrounding the new, lower index

value, pursuant to Phlx Rule 1101A.4

The Exchange will announce the

effective date by way of an Exchange

memorandum to the membership, also

serving as notice of the strike price and

position limit changes.

The purpose of the proposal is to

attract additional liquidity to the

product in those series that public

customers are most interested in

trading. For examples, a near-term, atthe-money call option series currently

trades at approximately $1,150 per

contract. The Exchange believes that

certain investors and traders currently

may be impeded from trading at such

levels. With the Index split, that same

option series (once adjusted), with all

else remaining equal, could trade at

approximately $300 per contract. The

Phlx believes that a reduced premium

value should encourage additional

investor interest.

The Exchange believes that Super Cap

Index options provide an important

opportunity for investors to hedge and

speculate upon the market risk

associated with the underlying stocks.

By reducing the value of the Index, such

investors will be able to utilize this

trading vehicle, while extending a

smaller outlay of capital. This, in turn,

should attract additional investors and

create a more active and liquid trading

environment.

The Exchange believes that the

proposed rule change is consistent with

Section 6 of the Act in general, and in

particular, with Section 6(b)(5), in that

it is designed to promote just and

equitable principles of trade, as well as

to protect investors and the public

interest, by establishing a lower index

value, which should, in turn, facilitate

trading in Super Cap Index options. The

Exchange believes that reducing the

value of the Index does not raise

manipulation concerns and would not

cause adverse market impact, because

the Exchange will continue to employ

its surveillance procedures and has

proposed an orderly procedure to

achieve the index split.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange believes the proposed

rule change will impose no

inappropriate burden on competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received from

Members, Participants or Others

The Exchange has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the publication of

this notice in the Federal Register or

within such longer period (i) as the

Commission may designate up to 90

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 the 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

Commission, 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 the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying at

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Phlx. All submissions

should refer to File No. SR–Phlx–96–17

and should be submitted by July 16,

1996.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.5

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96–16066 Filed 6–24–96; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster Loan Area #2864]

Alaska; Declaration of Disaster Loan

Area

As a result of the President’s major

disaster declaration on June 7, 1996, I

find that Matanuska Susitna Borough

and the City of Houston in the State of

Alaska constitute a disaster area due to

damages caused by Wildland Fires

beginning on June 2, 1996 and

continuing. Applications for loans for

physical damages resulting from this

disaster may be filed until the close of

business on August 6, 1996, and for

loans for economic injury until the close

of business on March 6, 1997 at the

address listed below: U.S. Small

Business Administration, Disaster Area

4 Office, P. O. Box 13795, Sacramento,

CA 95853–4795 or other locally

announced locations. In addition,

applications for economic injury loans

from small businesses located in the

following contiguous areas may be filed

until the specified date at the above

location: Denali Borough, Kenai

Peninsula Borough, Regional Education

Attendance Area of Iditarod Area,

Regional Education Attendance Area of

Delta/Greely, Regional Education

Attendance Area of Cooper River, and

Regional Attendance Area of Chugach.

Interest rates are:

Percent

For Physical Damage:

Homeowners With Credit Available Elsewhere ........................ 7.625

Homeowners Without Credit

Available Elsewhere ................ 3.875

Businesses With Credit Available

Elsewhere ................................ 8.000

Businesses and Non-Profit Organizations Without Credit Available Elsewhere ........................ 4.000

Others (Including Non-Profit Organizations) With Credit Available Elsewhere ........................ 7.125
Federal Register / Vol. 61, No. 123 / Tuesday, June 25, 1996 / Notices 32883

Percent

For Economic Injury:

Businesses and Small Agricultural Cooperatives Without

Credit Available Elsewhere ..... 4.000

The number assigned to this disaster

for physical damage is 286405 and for

economic injury the number is 894400.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008)

Dated: June 14, 1996.

Bernard Kulik,

Associate Administrator For Disaster

Assistance.

[FR Doc. 96–16101 Filed 6–24–96; 8:45 am]

BILLING CODE 8025–01–P

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

[Docket No. 301–105]

Initiation of Section 302 Investigation

and Request for Public Comment:

Practices of the Government of Turkey

Regarding the Imposition of a

Discriminatory Tax on Box Office

Revenues: Correction

AGENCY: Office of the United States

Trade Representative.

ACTION: Correction of docket number on

notice of initiation of investigation.

SUMMARY: The United States Trade

Representative (USTR) filed a notice of

initiation of investigation and request

for public comment on Monday, June

17, 1996 (61 FR 30646), with respect to

certain acts, policies and practices of the

Government of Turkey that may result

in the discriminatory treatment of U.S.

films in Turkey. The docket number

stated in that notice was incorrect. The

correct docket number is set forth above.

All further references to this

investigation should bear this corrected

docket number, including references in

any public comments filed pursuant to

the terms of the earlier notice.

FOR FURTHER INFORMATION CONTACT:

Joseph Papovich, Deputy Assistant

USTR for Intellectual Property, (202)

395–6864, or Thomas Robertson,

Associate General Counsel, (202) 395–

6800.

Irving A. Williamson,

Chairman, Section 301 Committee.

[FR Doc. 96–16112 Filed 6–24–96; 8:45 am]

BILLING CODE 3190–01–M

DEPARTMENT OF TRANSPORTATION

Coast Guard

[CGD 96–018]

Annual Certification of Cook Inlet

Regional Citizens’ Advisory Council

AGENCY: Coast Guard, DOT.

ACTION: Notice.

SUMMARY: Under the Oil Terminal and

Oil Tanker Environmental Oversight

and Monitoring Act of 1990, the Coast

Guard may certify, on an annual basis,

a voluntary advisory group instead of a

Regional Citizens’ Advisory Council for

Cook Inlet, Alaska. This certification

allows the advisory group to monitor

the activities of oil tankers and facilities

under the Cook Inlet Program

established by the Act. The purpose of

this notice is to inform the public that

the Coast Guard has recertified the

alternative voluntary advisory group for

Cook Inlet, Alaska.

EFFECTIVE DATE: June 1, 1996, through

May 31, 1997.

FOR FURTHER INFORMATION CONTACT:

LCDR Peter A Jensen, Project Manager,

Port and Environmental Management

Division, (G–MOR–1), (202) 267–6134,

U.S. Coast Guard Headquarters, 2100

Second Street SW, Washington, DC,

20593–0001.

SUPPLEMENTARY INFORMATION: As part of

the Oil Pollution Act of 1990, Congress

passed the Oil Terminal and Oil Tanker

Environmental Oversight and

Monitoring Act of 1990, (the Act), 33

U.S.C. 2732, the foster the long-term

partnership among industry,

government, and local communities in

overseeing compliance with

environmental concerns in the

operation of crude oil terminals and oil

tankers.

Section 2732(o) permits an alternative

voluntary advisory group to represent

the communities and interests in the

vicinity of the oil terminal facilities in

Cook Inlet, in lieu of a council of the

type specified in 33 U.S.C. 2732(d), if

certain conditions are met. The Act

requires that the group enter into a

contract to ensure annual funding and

receive annual certification by the

President that it fosters the general goals

and purposes of the Act and is broadly

representative of the community and

interests in the vicinity of the terminal

facilities. Accordingly, in 1991, the

President granted certification to the

Cook Inlet Regional Citizens’ Advisory

Council (CIRCAC). The authority to

certify alternative advisory groups was

subsequently delegated to the

Commandant of the Coast Guard, and

redelegated to the Chief, Marine Safety

and Environmental Protection.

On April 15, 1996, the Coast Guard

announced in the Federal Register, the

availability of the application for

recertification that it received from the

CIRCAC, and requested comments (61

FR 16518). Fourteen comments were

received.

Discussion of Comments

All of the comments received by the

Coast Guard supported recertification of

CIRAC. Two of the comments addressed

term limits, one sought to have

committee workplans submitted

through a public review process, one

sought annual community presentations

by the CIRCAC throughout the Cook

Inlet region, and one stated that CIRCAC

projects should clearly articulate multiyear goals. It is the Coast Guard’s

position that those comments can be

addressed successfully be CIRCAC and

has forwarded them to CIRCAC for their

review, consideration for what is

necessary to resolve the issues, and to

provide their response to the commenter

and the Coast Guard. Therefore, the

Coast Guard has determined that

recertification of CIRCAC in accordance

with the Act is appropriate.

Recertification

The Chief, Marine Safety and

Environmental Protection certified that

the Cook Inlet Regional Citizens’

Advisory Council qualifies as an

alternative voluntary advisory group

under the provisions of 33 U.S.C.

2732(o). This recertification terminates

on May 31, 1997.

Dated: June 17, 1996.

G.N. Naccara,

Captain, U.S. Coast Guard, Director of Field

Activities, Marine Safety and Environmental

Protection.

[FR Doc. 96–16163 Filed 6–24–96; 8:45 am]

BILLING CODE 4910–14–M

Federal Aviation Administration

Environmental Impact Statement: Blue

Grass Airport; Lexington, KY

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of intent.

SUMMARY: The Federal Aviation

Administration (FAA) is issuing this

notice to advertise to the public that an

Environmental Impact Statement (EIS)

is planned to be prepared and

considered for a proposed parallel

runway at Blue Grass Airport. The FAA

plans to hold a scoping meeting to