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PUBLIC & MEDIA ADVISORY: SURFACE TRANSPORTATION BOARD ANNOUNCES RECEIPT OF "CANADIAN NATIONAL-ILLINOIS CENTRAL RAILROAD" RAILROAD CONTROL APPLICATION; OUTLINES OPTIONS AVAILABLE FOR PUBLIC EXAMINATION, COPYING OF APPLICATION
Surface Transportation Board (Board) Chairman Linda J. Morgan announced today that on Wednesday, July 15, 1998, the Canadian National Railway Company, Grand Trunk Corporation, and Grand Trunk Western Railroad Incorporated (collectively referred to as “CN”), and Illinois Central Corporation, Illinois Central Railroad Company (ICR), Chicago, Central and Pacific Railroad Company, and Cedar River Railroad Company (collectively referred to as “IC”) [FOOTNOTE 1:
CN and IC are referred to collectively as "Applicants."] filed an application with the Board seeking authority for the acquisition by CN of control of IC.
Filed with the Board in the case entitled
Canadian National Railway Company, Grand Trunk Corporation, and Grand Trunk Western Railroad Incorporated--Control--Illinois Central Corporation, Illinois Central Railroad Company, Chicago, Central and Pacific Railroad Company, and Cedar River Railroad Company
, STB Finance Docket No. 33556, the application is the second major railroad consolidation transaction (the “CSX-Norfolk Southern-Conrail” merger proposal was the first) presented to the Board under the Interstate Commerce Commission Termination Act (ICCTA). The application is comprised of 5 paperbound volumes [FOOTNOTE 2:
Volume 1 of 4
contains supporting information, summary of benefits, exhibits, statement of the applicants’ principal officers, other supporting statements, and a related application, Finance Docket No. 33556 (Sub-No. 1).
Volume 2 of 4
contains traffic studies, an operating plan, a labor-impact statement, density charts, and supporting statements.
Volume 3 of 4
contains statements of shippers, public officials, and others in support of the application.
Volumes 4A and 4B of 4
contain agreements, Form 40-Fs, Form 10-Ks, Form F-4, Schedule 14D-1, and annual reports.] representing over 3,000 pages of text (also available on computer disks) and supporting information. The Board will review the application and a record will be developed according to a procedural schedule that will be established, assuming that the Board accepts the application as complete and so announces 30 days after the July 15, 1998 filing date, according to Section 1180.4(c)(7) of Title 49, Code of Federal Regulations [49 CFR 1180.4 (c)(7)].
Railroad mergers, such as the CN-IC proposal, require review and approval by the Board to ensure that the public will continue to receive adequate transportation services, that competition will not be harmed unduly, that employees will be afforded appropriate protection, and that environmental issues are fully addressed. The Board’s review of major rail mergers extends beyond assessing potential anticompetitive effects to considering potential economies and efficiencies in the national rail system that could result from such transactions. Other, additional factors that the Board is required to address include the effect of the proposal on essential services provided by other railroads in the pertinent region, the financial viability of the consolidated carrier, the effects of the proposal on railroad employees, and whether other railroads should be included in the transaction. The Board’s merger review procedures will afford all interested persons the opportunity to participate fully, as required by the Administrative Procedure Act, the ICCTA, and ICCTA implementing regulations.
The following options are available to the public for inspection and copying of the application:
. The CN-IC application may be viewed by members of the public
Monday-Friday between the hours of 8:30 a.m.-5:00 p.m. in Docket File Room 755, within Suite 700, 7
Floor, at the Board’s offices in the Mercury Building at 1925 K Street, N.W. (at the corner of 20
and K Streets) in Washington, DC, telephone (202) 565-1684. NOTE: All visitors must display picture identification cards upon entering Suite 700.
. The application will be available in its entirety on approximately two computer disks. The price per disk will be $25 through the Board’s decision-dissemination and copying contractor,
DC News & Data, Inc., Suite 210, Mercury Building, 1925 K Street, N.W., Washington, DC 20006, telephone (202) 289-4357 or (202) 463-8112.
District of Columbia sales tax may apply, and there are postage and handling charges for mail orders.
DC News & Data
(address and phone number above) will copy the
entire application at the price of 10 cents per page
. The price for copying
selected portions of the application is 20 cents per page
. District of Columbia sales tax may apply, and there are postage and handling charges for mail orders.
(notarized to attest authenticity) of the application will be made by Board personnel at the price of
80 cents per page, plus an $11 certification fee
. Contact the
Records Officer, Room 709, within Suite 700 at the Board’s offices (address above), telephone (202) 565-1676.
c. Interested persons may also obtain copies of the application
directly from the applicants
, according to 49 CFR 1180.4 (a)(3), which provides that “[a]ny document filed with the [Board] (including applications, pleadings, etc.) shall be promptly furnished to the interested persons on request, unless subject to protective order.”
. The application will be published on the Board’s Internet site,
www.stb.dot.gov, on the “Filings” page
. The application may be read directly from the Internet site, or may be downloaded in WordPerfect format (some portions of the application will not be published if they cannot be properly formatted.)