V & S Railway, Inc. (VSR), a Class III rail carrier, has filed a verified notice of exemption under 49 CFR 1150.41 to acquire (by lease) from Colorado, Kansas & Pacific Railway Company (CKPR) approximately 121.9 miles of rail line between milepost 747.5, near Towner, CO, and milepost 869.4, near NA Junction. VSR states that it has reached an