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FEDERAL REGISTER, Thursday, August 24, 1939
tal stock of the par value of $100 each, such capital stock immediately to be transferred to Electric Bond and Share Company in consideration for the sur render by the latter company to Ebasco Services Incorporated, for cancellation, of 7,000 shares of the capital stock of Ebasco Services Incorporated of the par value of $100 each, and the dissolution of Phoenix Engineering Corporation and the transfer of its property and assets to Ebasco Services Incorporated, Ebasco Services Incorporated has filed an amendment to its declaration pursuant to Rule U-13-22, on behalf of itself and its wholly-owned subsidiary, Phoenix Engineering Corporation, wherein it seeks approval of its business as a sub sidiary service company as it will be upon the consummation of the proposed reorganization. If the aforementioned contemplated reorganization is effected, Ebasco Services Incorporated will per form services and construction at cost to public utility and other companies operating in the United States. Ebasco Services Incorporated may also render incidental services at cost to Ebasco In ternational Corporation. It is contem plated that Ebasco Services Incorporated may perform services or constructions for persons in the United States with
whom transactions at prices not limited to cost are permitted under Rule U-1331 under the Act.
The application of Ebasco Services In corporated and the application of Ebasco International Corporation Pile No. 3744 pursuant to Rule U-13-4 promul gated under the Public Utility Holding Company Act of 1935 are both for exemp tion from the standards established by Section 13 b of said Act and the rules and regulations promulgated thereunder relating to the performance of services, sales and construction contracts for for eign associate companies.
Ebasco International Corporation, all of whose outstanding capital stock is now owned by Ebasco Services Incorporated but whose capital stock will, in the event the aforementioned reorganization be comes effective, be owned by Electric Bond and Share Company, plans to en gage in the business of performing tech nical, supervisory and other services for public utility and other client companies operating in thirteen foreign countries.
It does not propose to render services to holding or other companies doing busi ness in the United States, its sole pros pective clients being public utility and other companies operating in foreign countries. Through its prospective sub-

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sidiary, Empresas Eléctricas Brasileiras, S. A., applicant will render services to certain client countries in Brazil, and through its prospective subsidiary, Compania Constructora del Pacifico, appli cant plans to perform construction and other engineering services for client com panies operating in Chile. Applicant does not propose to carry on any of its business within the United States. All of the companies to which applicant will render services are subsidiaries of Ameri can & Foreign Power Company Incorpo rated, except Cbmpania de Servicos Púb licos de Cartagena, a public utility com pany operating in Colombia which is not an associate or affiliate of American &
Foreign Power Company Incorporated.
American & Foreign Power Company Incorporated has filed an application on behalf of itself and such subsidiaries pur suant to Section 3 b of the Act for exemption from all provisions of the Act applicable to it and its subsidiaries as subsidiaries of Electric Bond and Share Company.
By the Commission.
seal

F rancis P . B rassor ,
Secretary.
F. R. Doc. 39-3113; Filed, August 23, 1939;
12:18 p. m.