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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT to 13d-2(b)
(Amendment No.__________)*
Florida East Coast Industries
------------------------------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
340632108
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(CUSIP Number)
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- --------------
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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<PAGE>
CUSIP No. 340632108 13G Page 2 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Alfred I. duPont Testamentary Trust
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
59-0226560
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Florida (United States)
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
0
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 0
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 3 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
The Nemours Foundation
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Florida (United States)
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
450,224
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 450,224
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 4 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Winfred L. Thornton
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
5,955
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 5,955
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 5 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Jacob C. Belin
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
800
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 800
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 6 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Hugh M. Durden
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
0
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 0
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 7 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
John F. Porter III
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
0
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 0
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 8 of 21 Pages
- --------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
Herbert H. Peyton
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
(3) SEC USE ONLY
- --------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
(5) SOLE VOTING POWER
0
------------------------------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED 5,359,283
BY EACH ------------------------------------------------------
REPORTING PERSON (7) SOLE DISPOSITIVE POWER
WITH 0
------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
5,359,283
- --------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,359,283
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
59.1%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 340632108 13G Page 9 of 21 Pages
Item 1(a). Name of Issuer:
Florida East Coast Industries
Item 1(b). Address of Issuer's Principal Executive Offices:
One Malaga Street, St. Augustine, FL 32085
Item 2(a). Name of Person Filing:
See Item 1 on pages 2 through 9
Item 2(b). Address of Principal Business Office or, if None, Residence:
1650 Prudential Drive, Suite 300, Jacksonville, Fl 32207
Item 2(c). Citizenship:
See Item 4 on pages 2 through 9
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
340632108
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) | | Broker or dealer registered under Section 15 of the Act,
(b) | | Bank as defined in Section 3(a)(6) of the Act,
(c) | | Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) | | Investment Company registered under Section 8 of the
Investment Company Act,
(e) | | Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
(f) | | Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F),
(g) | | Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G); see Item 7,
(h) | | Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
<PAGE>
CUSIP No. 340632108 13G Page 10 of 21 Pages
Item 4. Ownership.
If the percent of the class owned, as of December 31 of the year
covered by the statement, or as of the last day of any month described in Rule
13d-1 (b)(2), if applicable, exceeds five percent, provide the following
information as of that date and identify those shares which there is a right to
acquire.
(a) Amount beneficially owned:
See Item 9 on pages 2 through 9
(b) Percent of Class:
See Item 11 on pages 2 through 9
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
See Item 5 on pages 2 through 9
(ii) Shared power to vote or to direct the vote
See Item 6 on pages 2 through 9
(iii) Sole power to dispose or to direct the disposition of
See Item 7 on pages 2 through 9
(iv) Shared power to dispose or to direct the disposition of
See Item 8 on pages 2 through 9
Instruction. For computations regarding securities which
represent a right to acquire and underlying security, see Rule 13d-3(d)(1).
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following / /.
Instruction. Dissolution of a group require a response to
this item.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of an employee benefit plan, pension fund or endowment fund is not required.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to Rule
13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the
identity and the Item 3 classification of the relevant subsidiary. If a parent
holding company has filed this schedule pursuant to Rule 13d-1(c), attach an
exhibit stating the identification of the relevant subsidiary.
Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to Rule 13d-1(b)(ii)(H), so
indicate under Item 3(h) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to Rule 13d-1(c), attach an exhibit stating the identity of each member
of the group.
See attached Exhibit A.
Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating
the date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
Item 10. Certification.
The following certification shall be included if the statement is filed
pursuant to Rule 13d-1(b):
"By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect."
<PAGE>
CUSIP No. 340632108 13G Page 11 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
---------------------------
(Date)
/s/ Winfred L. Thornton
---------------------------
(Signature)
Winfred L. Thornton
---------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 12 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
---------------------------
(Date)
/s/ Jacob C. Belin
---------------------------
(Signature)
Jacob C. Belin
---------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 13 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
---------------------------
(Date)
/s/ William T. Thompson III
---------------------------
(Signature)
William T. Thompson III
---------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 14 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
---------------------------
(Date)
/s/ Hugh M. Durden
---------------------------
(Signature)
Hugh M. Durden
---------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 15 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
---------------------------
(Date)
/s/ John F. Porter III
---------------------------
(Signature)
John F. Porter III
---------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 16 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
-------------------------------------
(Date)
Alfred I. duPont Testamentary Trust
------------------------------------
(Name of Trust)
/s/ Winfred L. Thornton
------------------------------------
(Signature)
Winfred L. Thornton
------------------------------------
(Name)
Chairman
------------------------------------
(Title)
<PAGE>
CUSIP No. 340632108 13G Page 17 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
-------------------------------------
(Date)
The Nemours Foundation
------------------------------------
(Name of Foundation)
/s/ Jacob C. Belin
------------------------------------
(Signature)
Jacob C. Belin
------------------------------------
(Name)
President
------------------------------------
(Title)
<PAGE>
CUSIP No. 340632108 13G Page 18 of 21 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I/we
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1998
-------------------------------------
(Date)
/s/ Herbert H. Peyton
------------------------------------
(Signature)
Herbert H. Peyton
------------------------------------
(Name)
<PAGE>
CUSIP No. 340632108 13G Page 19 of 21 Pages
EXHIBIT A
Members of the Reporting Group(*)
Name/Address Classification
St. Joe Corporation Corporation
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
Alfred I. duPont Testamentary Trust Other-Trust
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
The Nemours Foundation Other-Foundation
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
Winfred L. Thornton Individual
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
William T. Thompson III Individual
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
Jacob C. Belin Individual
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
Hugh M. Durden Individual
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
John F. Porter III Individual
1650 Prudential Drive, Suite 300
Jacksonville, FL 32207
Herbert H. Peyton
1650 Prudential Drive, Suite 300 Individual
Jacksonville, FL 32207
*The Alfred I. duPont Testamentary Trust and each of the persons listed
above are the Reporting Persons. The Alfred I. duPont Testamentary Trust and
each of the persons listed above are filing this Schedule 13G as joint filers
and each are considered for purpose of this Schedule 13G to be members of a
single group ("Group") within the meaning of Section 13(d)(3) of the Securities
Exchange Act of 1934, as amended (the "1934 Act"). This Schedule 13G is being
filed to report that the Alfred I. duPont Testamentary Trust and each of the
persons listed above beneficially own shares of the Florida East Coast
Industries ("FECI") as members of the Group, instead of individually, for
purpose of complying with the reporting requirements of Section 13(d) of the
1934 Act. 4,902,304 of the shares of FECI reported as being indirectly
beneficially owned by the Alfred I. duPont Testamentary Trust and each of the
persons listed above are directly owned by the St. Joe Corporation, which is a
member of the Group but which is not filing as a joint filer on this Schedule
13G. Each Reporting Person on this Schedule 13G declares, that by filing this
Schedule 13G, such Reporting Person is not admitting beneficial ownership of any
shares of FECI directly owned by the St. Joe Corporation and each such Reporting
Person disclaims the existence of, and its membership in, any "group" that
includes the St. Joe Corporation as a member.
<PAGE>
CUSIP No. 340632108 13G Page 20 of 21 Pages
EXHIBIT B
Power of Attorney
ALFRED I. DUPONT TESTAMENTARY TRUST
POWER OF ATTORNEY
FOR SCHEDULE 13G FILINGS
REPORTING OWNERSHIP OF SHARES OF THE
FLORIDA EAST COAST INDUSTRIES
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Winfred L. Thornton, his true and lawful
attorney-in-fact and agent, with full power of substitution, for him and his
name, place and stead, in any and all capacities, to sign any and all Schedule
13Gs with respect to the ownership of common stock, no par value, of Florida
East Coast Industries, and all amendments thereto, and to file the same with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing
requisite and ratifying and confirming all that said attorney-in-fact and agent
or his substitutes may lawfully do or cause to be done by virture hereof.
Date: February 12, 1998
/s/ Jacob C. Belin
-----------------------------
Jacob C. Belin
/s/ Hugh M. Durden III
-----------------------------
Hugh M. Durden III
/s/ John F. Porter III
-----------------------------
John F. Porter III
/s/ William T. Thompson III
-----------------------------
William T. Thompson III
/s/ Herbert H. Peyton
-----------------------------
Herbert H. Peyton
<PAGE>
CUSIP No. 340632108 13G Page 21 of 21 Pages
THE NEMOURS FOUNDATION
POWER OF ATTORNEY
FOR SCHEDULE 13g FILLINGS
REPORTING OWNERSHIP OF SHARES OF THE
FLORIDA EAST COAST INDUSTRIES
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Jacob C. Belin, his true and lawful
attorney-in-fact and agent, with full power of substitution, for him and his
name, place and stead, in any and all capacities, to sign any and all Schedule
13Gs with respect to the ownership of common stock, no par value, of Florida
East Coast Industries, and all amendments thereto, and to file the same with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent full power and authority to do and perform each and every act and thing
requisite and ratifying and confirming all that said attorney-in-fact and agent
or his substitute or substitutes may lawfully do or cause to be done by virtue
hereof.
Date: February 12, 1998
/s/ Hugh M. Durden III
------------------------------
Hugh M. Durden III
/s/ John F. Porter III
------------------------------
John F. Porter III
/s/ William T. Thompson III
------------------------------
William T. Thompson III
/s/ Winfred L. Thornton
------------------------------
Winfred L. Thornton
/s/ Herbert H. Peyton
------------------------------
Herbert H. Peyton
