19626 Federal Register / Vol. 61, No. 86 / Thursday, May 2, 1996 / Notices

PLACE: 999 E Street, N.W., Washington, Officer: Elizabeth Finch Miller, the power to vote shares of a bank or D.C. (Ninth Floor.) President bank holding company and all of the STATUS: This Meeting Will Be Open to Dated: April 29, 1996. banks and nonbanking companies owned by the bank holding company, the Public. Joseph C. Polking, ITEMS TO BE DISCUSSED: including the companies listed below. Secretary. The applications listed below, as well Correction and Approval of Minutes. [FR Doc. 96–10894 Filed 5–1–96; 8:45 am] as other related filings required by the Advisory Opinion 1996–8: Pamela Rochester BILLING CODE 6730±01±M Board, are available for immediate on behalf of Jefferson County Democratic inspection at the Federal Reserve Bank Executive Committee. indicated. Once the application has Advisory Opinion 1996–10: Bruce E. Lammel FEDERAL RESERVE SYSTEM on behalf of USX Corporation. been accepted for processing, it will also be available for inspection at the offices Advisory Opinion 1996–11: James Bopp, Jr. Change in Bank Control Notices; on behalf of the National Right to Life of the Board of Governors. Interested Conventions, Inc. Acquisitions of Shares of Banks or persons may express their views in Administrative Matters. Bank Holding Companies writing on the standards enumerated in PERSON TO CONTACT FOR INFORMATION: The notificants listed below have the BHC Act (12 U.S.C. 1842(c)). If the Mr. Ron Harris, Press Officer, applied under the Change in Bank proposal also involves the acquisition of Telephone: (202) 219–4155. Control Act (12 U.S.C. 1817(j)) and § a nonbanking company, the review also includes whether the acquisition of the Marjorie W. Emmons, 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank nonbanking company complies with the Secretary of the Commission. standards in section 4 of the BHC Act, holding company. The factors that are [FR Doc. 96–11100 Filed 4–30–96; 2:21 pm] including whether the acquisition of the considered in acting on the notices are BILLING CODE 6715±01±M nonbanking company can ‘‘reasonably set forth in paragraph 7 of the Act (12 be expected to produce benefits to the U.S.C. 1817(j)(7)). public, such as greater convenience, The notices are available for FEDERAL MARITIME COMMISSION increased competition, or gains in immediate inspection at the Federal efficiency, that outweigh possible Reserve Bank indicated. Once the Ocean Freight Forwarder License adverse effects, such as undue notices have been accepted for Applicants concentration of resources, decreased or processing, they will also be available unfair competition, conflicts of Notice is hereby given that the for inspection at the offices of the Board interests, or unsound banking practices’’ following applicants have filed with the of Governors. Interested persons may (12 U.S.C. 1843). Any request for Federal Maritime Commission express their views in writing to the a hearing must be accompanied by a applications for licenses as ocean freight Reserve Bank indicated for that notice statement of the reasons a written forwarders pursuant to section 19 of the or to the offices of the Board of presentation would not suffice in lieu of Shipping Act of 1984 (46 U.S.C. app. Governors. Comments must be received a hearing, identifying specifically any 1718 and 46 CFR 510). not later than May 16, 1996. questions of fact that are in dispute, Persons knowing of any reason why A. Federal Reserve Bank of Kansas summarizing the evidence that would any of the following applicants should City (John E. Yorke, Senior Vice be presented at a hearing, and indicating not receive a license are requested to President) 925 Grand Avenue, Kansas how the party commenting would be contact the Office of Freight Forwarders, City, Missouri 64198: aggrieved by approval of the proposal. Federal Maritime Commission, 1. C. Gage Overall and Mary C. Unless otherwise noted, nonbanking Washington, D.C. 20573. Overall, both of Caldwell, Kansas; to activities will be conducted throughout acquire an additional 31.9 percent, for a Expeditors International (Puerto Rico), the United States. Inc., 65 Infantry Station, San Juan, total of 43.4 percent of the voting shares Unless otherwise noted, comments Puerto Rico 00929, Officers: Kevin M. of Stock Exchange Financial regarding each of these applications Walsh, President, Mario Alfonso, Corporation, Caldwell, Kansas, and must be received at the Reserve Bank Treasurer/Secretary/Director thereby indirectly acquire Stock indicated or the offices of the Board of Unitrans International, Inc., 1851 Exchange Bank, Caldwell, Kansas. # Governors not later than May 28, 1996. Alexander Bell Drive, 400, Reston, Board of Governors of the Federal Reserve A. Federal Reserve Bank of New VA 22091, Officers: A. Huda Farouki, System, April 26, 1996. York (Christopher J. McCurdy, Senior Director, Mazen T. Farouki, President Jennifer J. Johnson, Vice President) 33 Liberty Street, New Barnettt Trading, Inc. d/b/a C2C Ocean Deputy Secretary of the Board. York, New York 10045: Freight Forwarding, 217 Humphrey [FR Doc. 96–10909 Filed 5–1–96; 8:45 am] 1. Banco Santander, S.A., Madrid, Street, Marblehead, MA 01945–1620, BILLING CODE 6210±01±F Spain; to acquire 99.248 percent of the Officers: Andrew L. Barnett, voting shares of Banco Central Hispano President, Michael Ohsman, Director Puerto Rico, Hato Rey, Puerto Rico. G & B International, Inc., 755 Route 83, B. Federal Reserve Bank of # Formations of, Acquisitions by, and Suite 215, Bensenville, IL 60106, Mergers of Bank Holding Companies Richmond (Lloyd W. Bostian, Jr., Senior Officer: Joon Hwan Tae, President Vice President) 701 East Byrd Street, Pacific Wells Crop. d/b/a Pelican The companies listed in this notice Richmond, Virginia 23261: Shipping Line, 250 W. Walnut Street, have applied to the Board for approval, 1. First National Corporation, Compton, CA 90220, Officer: Woon K. pursuant to the Bank Holding Company Orangeburg, South Caroina; to acquire Paik, President Act of 1956 (12 U.S.C. 1841 et seq.) 100 percent of the voting shares of Rimtech Int’l Transport, 460 E. Carson (BHC Act), Regulation Y (12 CFR part National Bank of York County, Rock Plaza Drive, #103, Carson, CA 90746, 225), and all other applicable statutes Hill, South Carolina (an organizing Officer: Yon S. Kim, President and regulations to become a bank bank). EMC Shipping, Inc., 4034 E. Mercer holding company and/or to acquire the C. Federal Reserve Bank of Kansas Way, Mercer Island, WA 98040, assets or the ownership of, control of, or City (John E. Yorke, Senior Vice Federal Register / Vol. 61, No. 86 / Thursday, May 2, 1996 / Notices 19627

President) 925 Grand Avenue, Kansas unfair competition, conflicts of underwrite and deal in pursuant to 12 City, Missouri 64198: interests, or unsound banking practices’’ CFR 225.25(b)(16); making, acquiring 1. Sooner Southwest Bankshares, Inc., (12 U.S.C. 1843). Any request for a and servicing loans or other extensions Bristow, Oklahoma; to become a bank hearing on this question must be of credit pursuant to 12 CFR holding company by acquiring 100 accompanied by a statement of the 225.25(b)(1); underwriting and dealing percent of the voting shares of Sooner reasons a written presentation would in, to a limited extent, certain municipal Southwest Bancshares, Inc., Bristow, not suffice in lieu of a hearing, revenue bonds (including unrated and Oklahoma, and thereby indirectly identifying specifically any questions of certain ‘‘private ownership’’ municipal acquire Community Bank, Bristow, fact that are in dispute, summarizing the revenue bonds), mortgage-related Oklahoma, and Security First National evidence that would be presented at a securities, commercial paper and Bank, Hugo, Oklahoma. hearing, and indicating how the party consumer-receivable-related securities In connection with this application, commenting would be aggrieved by (Tier 1 Securities); buying and selling Applicant also has applied to acquire approval of the proposal. all types of debt and equity securities on Southwest Consolidated Life Insurance Unless otherwise noted, comments the order of customers as a ‘‘riskless Company, Bristow, Oklahoma, and regarding the applications must be principal;’’ and acting as agent in the thereby engage in acquiring an received at the Reserve Bank indicated private placement of all types of debt insurance company subsidiary that or the offices of the Board of Governors and equity securities. Company engages in credit-related insurance not later than May 16, 1996. currently is a subsidiary of BNY’s bank activities, pursuant to § 225.25(b)(8)(i) A. Federal Reserve Bank of Chicago subsidiary, The Bank of New York, New of the Board’s Regulation Y. (James A. Bluemle, Vice President) 230 York, New York. Company would Comments on this application must South LaSalle Street, Chicago, engage in the proposed activities on a be received not later than May 2, 1996. 60690: worldwide basis following a Board of Governors of the Federal Reserve 1. Anita Bancorporation, Newton, reorganization in which it would System, April 26, 1996. ; to engage de novo in making and become a subsidiary of BNY’s wholly Jennifer J. Johnson, servicing loans, pursuant to § owned nonbank subsidiary, BNY Deputy Secretary of the Board. 225.25(b)(1) of the Board’s Regulation Y. Capital Markets Holdings, Inc., New B. Federal Reserve Bank of [FR Doc. 96–10905 Filed 5–1–96; 8:45 am] York, New York. (James M. Lyon, Vice The Board previously has determined BILLING CODE 6210±01±P President) 250 Marquette Avenue, that the proposed activities are closely Minneapolis, 55480: related to banking. See 12 CFR 1. Norwest Corporation, Minneapolis, Notice of Proposals to Engage in 225.25(b)(1), (4), (15) and (16); Citicorp Minnesota; through Norwest Financial Permissible Nonbanking Activities or et al., 73 Fed. Res. Bull. 473 (1987) Services, Inc., Des Moines, Iowa, to to Acquire Companies that are (underwriting and dealing in, to a acquire Aman Collection Service, Inc., Engaged in Permissible Nonbanking limited extent, Tier 1 Securities); Bank Activities Aberdeen, , and thereby South Corporation, 81 Fed. Res. Bull. engage in operating a collection agency, 1116 (1995); Letter Interpretating Cross- The companies listed in this notice pursuant to § 225.25(b)(23) of the Marketing Firewall, 81 Fed. Res. Bull. have given notice under section 4 of the Board’s Regulation Y. 198 (1995). Bankers Trust New York Bank Holding Company Act (12 U.S.C. Board of Governors of the Federal Reserve Corporation, 75 Fed. Res. Bull. 829 1843) (BHC Act) and Regulation System, April 26, 1996. (1989)(Bankers Trust); J.P. Morgan & Y, (12 CFR part 225) to engage de novo, Jennifer J. Johnson, Company Incorporated, 76 Fed. Res. or to acquire or control voting securities Deputy Secretary of the Board. Bull. 26 (1990) (J.P. Morgan) (riskless or assets of a company that engages [FR Doc. 96–10906 Filed 5–1–96; 8:45 am] principal and private placement either directly or through a subsidiary or BILLING CODE 6210±01±F activities). BNY proposes to engage in other company, in a nonbanking activity these activities in accordance with the that is listed in § 225.25 of Regulation limitations and conditions established Y (12 CFR 225.25) or that the Board has The Bank of New York Company, Inc.; by the Board in Regulation Y and in its determined by Order to be closely Notice to Engage in Certain prior orders approving these activities. related to banking and permissible for Nonbanking Activities In authorizing bank holding bank holding companies. Unless companies to engage in riskless otherwise noted, these activities will be The Bank of New York Company, Inc., principal activities under section 4(c)(8) conducted throughout the United States. New York, New York (BNY), has of the BHC Act, the Board previously Each notice is available for inspection applied for Board approval pursuant to has relied upon a commitment that the at the Federal Reserve Bank indicated. section 4(c)(8) of the Bank Holding applicant would conduct the proposed Once the notice has been accepted for Company Act (12 U.S.C. 1843(c)(8)) riskless principal activities in processing, it will also be available for (BHC Act) and section 225.23(a) of the accordance with most of the prudential inspection at the offices of the Board of Board’s Regulation Y (12 CFR limitations governing the bank- Governors. Interested persons may 225.23(a)), to engage de novo through its ineligible securities underwriting and express their views in writing on the indirect wholly owned subsidiary, BNY dealing activities of section 20 question whether the proposal complies Capital Markets, Inc., New York, New companies (Section 20 Firewalls). See with the standards of section 4 of the York (Company), in the following Bankers Trust, 75 Fed. Res. Bull. at 834; BHC Act, including whether nonbanking activities: (i) providing J.P. Morgan, 76 Fed. Res. Bull. at 27. consummation of the proposal can investment and financial advisory BNY, however, does not propose to ‘‘reasonably be expected to produce services pursuant to 12 CFR conduct the riskless principal activities benefits to the public, such as greater 225.25(b)(4); (ii) providing full-service of Company in accordance with the convenience, increased competition, or brokerage services pursuant to 12 CFR Section 20 Firewalls. BNY states that gains in efficiency, that outweigh 225.25(b)(15); underwriting and dealing riskless principal transactions are possible adverse effects, such as undue in government obligations and other essentially equivalent to brokerage concentration of resources, decreased or obligations that state member banks may transactions, and notes that the Board