-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BKh7cUOAS/KceI7f9r++T0DOJ3W6Bu3Jc2FldMMB741mshg7DGppV89cWeeBs8XT D0gH9+s5AkYbGs9YWl7yGA== 0001024739-98-000133.txt : 19980218 0001024739-98-000133.hdr.sgml : 19980218 ACCESSION NUMBER: 0001024739-98-000133 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980213 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA EAST COAST INDUSTRIES INC CENTRAL INDEX KEY: 0000740796 STANDARD INDUSTRIAL CLASSIFICATION: RAILROADS, LINE-HAUL OPERATING [4011] IRS NUMBER: 592349968 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-36860 FILM NUMBER: 98535903 BUSINESS ADDRESS: STREET 1: 1650 PRUDENTIAL DR CITY: JACKSONVILLE STATE: FL ZIP: 32207 BUSINESS PHONE: 9043966600 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DUPONT ALFRED I TESTAMENTARY TRUST CENTRAL INDEX KEY: 0001051094 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1650 PRUDENTIAL DR STREET 2: SUITE 300 CITY: JACKSONVILLE STATE: FL ZIP: 32207 BUSINESS PHONE: 9048583121 MAIL ADDRESS: STREET 1: 1650 PRUDENTIAL DR STREET 2: SUITE 300 CITY: JACKSONVILLE STATE: FL ZIP: 32207 SC 13G 1 SCHEDULE 13G ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------- 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 ------------------------------------------------------ (Title of Class of Securities) 340632108 ------------------------------------------------------ (CUSIP Number) ----------- - -------------- *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). ================================================================================ 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! 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! 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! 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! 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! 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! 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! 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). 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." 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) 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) 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) 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) 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) 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) 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) 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) 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. 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 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 -----END PRIVACY-ENHANCED MESSAGE-----