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4910

NOTICES

The Commission finding that no ad verse findings are necessary with respect to the declaration, and deeming it ap propriate in the public interest and in the interests of investors and consumers that said declaration be permitted to be come effective, and deeming it appropri ate to grant the request of declarant that the order become effective at the earliest date possible:
It is hereby ordered, Pursuant to Rule U-23 and the applicable provisions of the act and subject to the terms and con ditions prescribed in Rule tJ-24, that the declaration be, and the same hereby is, permitted to become effective forthwith.
By the Commission.
sea l
O rval L . B u B o i s ,
Secretary.
F. R . Doe. 48-7049: F iled , Aug. 23, 1948;
8 :45 au m .J

F ile No. 70-1923
C e n t r a l M a in e P o w e r . C o .
NOTICE OF FILXK6

At a regular session of the Securities and Exchange Commission, held at its office in the city of Washington, D. C., on the 16th day of August A. D. 1348.
Notice is hereby given that an applica tion has been filed: with, this Commission, pursuant to the Public Utility Holding Company Act of 1935, by Central Maine Power Company Central Maine, a public utility subsidiary of New England Public Service Company, a registered holding company. Applicant has desig nated the first sentence of section 6 b of the act as applicable to the proposed transactions.
Notice is further given th at any inter ested person may, not later than August 30, 1948, at 5:30 p. m., e. d. s. t., request the Commission in writing that a hearing be held on such matter, stating the na ture of his interest, the reasons for such request and the issues, if any, of fact or law raised by said application proposed to be controverted, or may request that he be notified if the Commission should or der a hearing thereon. Any such request should be addressed: Secretary, Securi ties and Exchange Commission, 425 Sec ond Street NW., Washington 25, D. C.
At any time after August 30, 1948, said application, as amended, may be granted as provided in Rule U-23 of the rules and regulations promulgated under the act, or the Commission may exempt such transactions as provided in Rules U-20
a and U-100 thereof.
All interested persons are referred to said application and amendment which are on file in the offices of this Commis sion for a statement of the transactions therein proposed, which are summarized as follows:
Central Maine proposes to increase its short-term debt to a maximum amount
of $8,500,000 up to and including Decem ber 31, 1948, by the issue of promissory notes to The First National Bank of Boston, from time to time, to and includ ing December 31,1948, said notes having a maturity of nine months or less. The company had outstanding as of August 11, 1948, notes payable to The First Na tional Bank of Boston aggregating $3,800,000. It is stated that the company has an understanding with The First Na tional Bank of Boston that, until further notice, interest rates on the first $5,000,000 of renewals or new money will be at the rate of 1%% per annum and on amounts in excess of $5,000,000 wifi be at the rate of 2% per annum. It is fur ther stated that in case said rates shall exceed such amounts, the company will file an amendment to its application, stating the rates of interest, at least five days prior to the execution and delivery of any note bearing such new interest rates, and unless the Commission shall notify the company to the contrary within said five-day period, the amend ment shall become effective at the end of said period. The issuance of such notes is for the stated purpose of obtain ing the funds necessary to continue the companys 1948 construction program.
The application states that the company intends to issue and sell sufficient shares of common stock between now and the end of 1948 to yield approximately $5,000,000, and that it is its present intention that this sale take place during the month of November. It is further stated that the proceeds from the sale of such common stock will be applied toward the payment of outstanding notes.
The application states that no State commission or other Federal commis sion has jurisdiction over the proposed transactions.
The amount of notes proposed to be issued by Central Maine is in excess of 5% of the principal amount and par value of other outstanding securities of the company. The company requests authorization pursuant to the first sen tence of section 6 b of the act to issue such notes.
Central Maine requests that the Com missions order be issued on or before August 31,1948, and that such order be come effective forthwith.
By the Commission.
sea l
N ellye A. T horsen,
Assistant Secretary.
F. R . Doc. 48-7552; F iled , Aug. 23, 1948;
8 :4 6 a . m .

F ile No. 812-497
T r a n s it I n v e s t m e n t C o r p .

office in the city of Washington, D. C., on the 18th day of August A. D. 1948.
Notice is hereby given that Transit In vestment Corporation, a registered in vestment company, has filed an applica tion for an order of the Commission exempting Transit Investment Corpora tion from the necessity of filing with the Commission and submitting to security holders the reports required by section 30 of the Investment Company Act of 1940 the act and for an order of the Commission pursuant to section 8 f of the act declaring that Transit Invest ment Corporation has ceased to be an investment company.
Applicant maintains that it has ceased to be an investment company as defined in the act by reason of the liquidation of its assets and the transfer of the proceeds thereof to the Philadelphia National Bank in escrow for distribution to the holders of its preferred stock, and that such distribution is now going on. Ap plicant contends that no useful purpose would be served by the preparation and filing with the Commission of a quarterly report for the period ended June 30,1948
pursuant to the provisions of section 30
b 1 of the act or by sending to its stockholders a report for the six months period ended June 30, 1948 pursuant to section 30 dl of the act.
All interested persons are referred to said application which is on file at the Washington, D. C., offices of this Com mission for a more detailed statement of the matters of fact and law therein as serted.
Notice is further given that an order granting the application may be issued by the Commission at any time after August 27, 1948, unless prior thereto a hearing upon the application is ordered by the Commission, as provided in Rule N-5 of the rules and regulations pro mulgated under the act. Any interested person may, not later than August 25, 1948, at 5:30P. m submit to the Com mission in writing his views or any addi tional facts bearing upon the application or the desirability of a hearing thereon, or request the Commission in writing that a hearing be held thereon. Any such communication or request should be ad dressed: Secretary: Securities and Ex change Commission, Washington, D. C., and should state briefly the nature of the
interest of the person submitting such Information or requesting a hearing, the reasons for such request, and the issues of fact or law raised by the application which he wishes to controvert.
By the Commission.
sea l
NOTICE OF APPLICATION

At a regular session of the Securities and Exchange Commission held at its
O rval L . D u B o i s ,
Secretary.
F. R . Doc. 48-7550; F iled , Aug. 23, 1948;
8:45 a. m .