[Federal Register: January 7, 1999 (Volume 64, Number 4)]
[Notices]               
[Page 1036-1037]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr07ja99-45]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26963]

 
Filings Under the Public Utility Holding Company Act of 1935, as 
amended (``Act'')

December 31, 1998.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. All interested persons are referred to the 
applications(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by January 26, 1999, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or,

[[Page 1037]]

in case of an attorney at law, by certificate) should be filed with the 
request. Any request for hearing should identify specifically the 
issues of fact or law that are disputed. A person who so requests will 
be notified of any hearing, if ordered, and will receive a copy of any 
notice or order issued in the matter. After January 26, 1999, the 
application(s), as filed or as amended, may be granted and/or permitted 
to become effective.

Columbia Energy Group (70-9425)

    Columbia Energy Group (``Columbia''), a registered holding company, 
located at 13880 Dulles Corner Lane, Herndon, VA 20171-4600, has filed 
an application-declaration under section 6(a)(2), 7 and 12(e) of the 
Act, and rules 62 and 65 under the Act.
    Columbia proposes to amend its Restated Certificate of 
Incorporation to: (1) increase the number of shares of common stock 
authorized to be issued from 100 million to 200 million; and (2) reduce 
the par value of its capital stock from $10 to $.01 per share 
(``Proposed Amendment''). Columbia has no immediate plans for the 
additional shares of the common stock. However, the increase in 
authorized shares may be used in connection with future stock splits in 
the form of stock dividends, acquisitions and other transactions, 
employee benefit plans and for other corporate purposes. The change in 
par value is intended to bring Columbia in line with the practice of 
other corporations, including registered holding companies, which 
already have so-called ``penny'' par stock. The reduction in par value 
would also mitigate the effect on Columbia's retained earnings account 
in the event that the company declared another stock split in the form 
of a stock dividend. The proposed reduction in par value would be 
affected by a reduction in the capital stock account and a 
corresponding increase in the additional paid in capital account and 
thus would have no impact on Columbia's capital structure.
    The Proposed Amendment has been declared advisable by the Board of 
Directors of Columbia and its adoption requires the favorable vote of 
the holders of a majority of the outstanding shares of common stock of 
Columbia. Columbia plans to submit the Proposed Amendment for 
consideration and action by its shareholders and to solicit proxies 
from its shareholders.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-293 Filed 1-6-99; 8:45 am]
BILLING CODE 8010-01-M