[Federal Register Volume 62, Number 232 (Wednesday, December 3, 1997)]
[Notices]
[Pages 63999-64000]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-31685]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. IC-22913]
Notice of Applications for Deregistration Under Section 8(f) of
the Investment Company Act of 1940
November 26, 1997.
The following is a notice of applications for derigistration under
section 8(f) of the Investment Company Act of 1940 for the month of
November, 1997. A copy of each application may be obtained for a fee at
the SEC's Public Reference Branch, 450 Fifth St., N.W., Washington,
D.C. 20549 (tel. 202-942-8090). An order granting each application will
be issued unless the SEC orders a hearing. Interested persons may
request a hearing on any application by writing to the SEC's Secretary
at the address below and serving the relevant applicant with a copy of
the request, personally or by mail. Hearing requests should be received
by the SEC by 5:30 p.m. on December 22, 1997, and should be accompanied
by proof of service on the applicant, in the form of an affidavit or,
for lawyers, a certificate of service. Hearing requests should state
the nature of the writer's interest, the reason for the request, and
the issues contested. Persons who wish to be notified of a hearing may
request notification by writing to the Secretary, SEC, 450 Fifth
Street, N.W., Washington, D.C. 20549. For Further Information Contact:
Diane L. Titus, at (202) 942-0564, SEC, Division of Investment
Management, Office of Investment Company Regulation, Mail Stop 10-4,
450 Fifth Street, N.W., Washington, D.C. 20549.
Crabbee Huson Real Estate Investment Fund, Inc. [File No. 811-8262]
Oregon Municipal Bond Fund, Inc. [File No. 811-4464]
Crabbee Huson Income Fund, Inc. [File No. 811-5836]
Crabbee Huson Equity Fund, Inc. [File No. 811-5837]
Crabbee Huson Asset Allocation Fund, Inc. [File No. 811-5838]
U.S. Government Money Market Fund, Inc. [File No. 811-5839]
U.S. Government Income Fund, Inc. [File No. 811-5840]
Summary: Each applicant requests an order declaring that it has
ceased to be an investment company. On October 1, 1996, each applicant,
an Oregon corporation, transferred its assets and liabilities to a new
portfolio of Crabbe Huson Funds, a Delaware business trust, based on
the relative net asset value. Each applicant thus merged into an
identically named portfolio of Crabbe Huson Funds, except that the
Oregon Municipal Bond Fund merged into the Crabbe Huson Tax-Exempt
Fund. The approximate expenses related to each transaction, which were
borne by the respective applicant, were as follows: Crabbe Huson Real
Estate Fund, $14,393; Oregon Municipal Bond Fund, $13,007; Crabbe Huson
Income Fund, $11,473; Crabbe Huson Equity Fund, $201,845; Crabbe Huson
Asset Allocation Fund, $53,348; U.S. Government Money Market Fund,
$31,382; U.S. Government Income Fund, $10,233.
Filing Dates: Each application was filed on February 24, 1997, and
amended on June 23, 1997.
Applicants' Address: 121 S.W. Morrison, Suite 1400, Portland,
Oregon 97204.
Leahi Investment Trust [File No. 811-5321]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On July 31, 1997, applicant transferred its
assets to First Hawaii Municipal Bond Fund (``First Hawaii''), a series
of First Pacific Mutual Fund, Inc., based on the relative net asset
value per share of each fund. The approximate expenses incurred in
connection with the merger were $40,000 and were borne by the
investment advisers to applicant and First Hawaii.
Filing Dates: The application was filed on September 2, 1997, and
amended on November 13, 1997.
Applicant's Address: Ward Plaza, Suite 129, 210 Ward Avenue,
Honolulu, Hawaii 96814.
First Prairie Diversified Asset Fund [File No. 811-4210]
First Prairie Money Market Fund [File No. 811-4212]
First Prairie Municipal Money Market Fund [File No. 811-4213]
Prairie Municipal Bond Fund [File No. 811-5414]
First Prairie U.S. Treasury Securities Cash Management Fund [File
No. 811-6405]
First Prairie Cash Management Fund [File No. 811-6406]
Prairie Intermediate Bond Fund [File No. 811-6595]
Prairie Funds [File No. 811-7231]
Prairie Institutional Funds [File No. 811-7235]
Summary: Each applicant seeks an order declaring that it has ceased
to be an investment company. Each applicant transferred its assets and
liabilities to a series of Prairie Funds, The Woodward Funds, or
Prairie Institutional Funds, based on the relative net asset value per
share of each fund.
On March 4, 1995, First Prairie Diversified Asset Fund reorganized
into Prairie Managed Assets Income Fund, a series of Prairie Funds.
This applicant paid approximately $10,000 in expenses related to the
reorganization.
On May 20, 1995, First Prairie Money Market Fund's Money Market
Series reorganized into Prairie Money Market Fund, a series of Prairie
Funds, and its Government Series reorganized into Prairie U.S.
Government Money Market Fund, a series of Prairie Funds. This applicant
paid approximately $35,000 in expenses related to the reorganization.
On May 20, 1995, First Prairie Municipal Money Market Fund
reorganized into Prairie Municipal Money Market Fund, as series of
Prairie Funds. This applicant paid approximately $20,000 in expenses
related to the reorganization.
On September 14, 1996, Prairie Municipal Bond Fund, Inc.
reorganized into Woodward Municipal Bond Fund, a series of The Woodward
Funds. First Chicago NBD Corporation, the parent company of applicant's
co-investment advisers, paid approximately $207,027 in expenses related
to the reorganization.
On January 17, 1995, First Prairie U.S. Treasury Securities Cash
Management Fund reorganized into U.S. Government Securities Cash
Management Fund, a series of Prairie Institutional Funds. This
applicant paid approximately $7,000 in expenses related to the
reorganization.
On January 17, 1997, First Prairie Cash Management Fund reorganized
into Cash Management Fund, a series of Prairie Institutional Funds.
This applicant paid approximately $3,000 in expenses related to the
reorganization.
On September 21, 1996, Prairie Intermediate Bond Fund reorganized
into Woodward Income Fund, a series of The Woodward Funds. First
Chicago NBD Corporation, the parent company of applicant's co-
investment advisers, paid approximately $176,133 in expenses related to
the reorganization.
On August 23, 1996, Prairie Managed Assets Fund, Prairie Growth
Fund, Prairie Bond Fund, and Prairie International Equity Fund, each a
series of Prairie Funds, reorganized into a corresponding series of The
Woodward Funds. On September 14, 1996, Prairie U.S. Government Money
Market Fund, Prairie Money Market Fund, and Prairie Municipal Money
Market Fund, each a
[[Page 64000]]
series of Prairie Funds reorganized into a corresponding series of The
Woodward Funds. On September 21, 1996, Prairie Managed Assets Income
Fund, Prairie Equity Income Fund, Prairie Special Opportunity Fund,
Prairie International Bond Fund and Prairie Intermediate Municipal Bond
Fund, each a series of Prairie Funds, reorganized into a corresponding
series of The Woodward Funds. First Chicago NBD Corporation, the parent
company of applicant's co-investment advisers, paid approximately
$1,888,347 in expenses related to the reorganization.
On July 15, 1996, Prairie Cash Management Fund, Prairie Treasury
Prime Cash Management Fund, and Prairie U.S. Government Securities Cash
Management Fund, each a series of Prairie Institutional Funds,
reorganized into a corresponding series of The Woodward Funds. First
Chicago NBD Corporation, the parent company of applicant's co-
investment advisers, paid approximately $995,137 in expenses related to
the reorganization.
Filing Dates: Each application was filed on June 27, 1997, and
amended on October 20, 1997, and November 14, 1997.
Applicants' Address: Three First National Plaza, Chicago, Illinois
60670.
Target Income Fund, Inc. [File No. 811-6542]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On March 13, 1997, applicant completed a
liquidation and sale of all of its investment assets to Concord Growth
Corporation, a commercial finance services firm unaffiliated with
applicant. On April 3, 1997, applicant completed a tender offer where
each shareholder received its pro rata share of the aggregate net asset
value of applicant. Applicant paid approximately $25,000 in expenses
related to the liquidation.
Filing Dates: The application was filed on July 24, 1997, and
amended on October 23, 1997.
Applicant's Address: 26691 Plaza Drive, Suite 222, Mission Viejo,
CA 92691.
Neuberger & Berman Genesis Fund, Inc. [File No. 811-5562]
Neuberger & Berman Manhattan Fund, Inc. [File No. 811-1363]
Neuberger & Berman Partners Fund, Inc. [File No. 811-1601]
Neuberger & Berman Selected Sectors Fund, Inc. [File No. 811-691]
Summary: Each applicant requests an order declaring that it has
ceased to be an investment company. On August 2, 1993, each applicant
transferred its assets and liabilities to a new, identically named
portfolio of the Neuberger & Berman Equity Funds, based on the relative
net asset value per share of each fund. The approximate expenses of
each merger, which were shared by the transferring and acquiring funds,
were as follows: Neuberger & Berman Genesis Fund, $40,000; Neuberger &
Berman Manhattan Fund, $141,000; Neuberger & Berman Partners Fund,
$147,000; Neuberger & Berman Selected Sectors Fund, $84,000. In effect,
the shareholders of each applicant paid the expenses related to the
transaction because the relevant acquiring fund had no assets or
shareholders prior to the transaction and its shareholders therefore
were substantially the same as applicants' shareholders.
Filing Dates: The applications were filed on April 1, 1996, and
amended on October 23, 1996.
Applicants' Address: 605 Third Avenue, New York, NY 10158-3698.
JP Investment Grade Bond Fund, Inc. [File No. 811-3544]
JP Capital Appreciation Fund, Inc. [File No. 811-3543]
Summary: Each applicant seeks an order declaring that it has ceased
to be an investment company. On December 20, 1996, each applicant sold
substantially all of its assets to Oppenheimer Fund, Inc. All expenses
of the sale were paid by Oppenheimer Fund, Inc. and the management of
each applicant; shareholders paid no expenses in connection with the
sale.
Filing Date: Both applications were filed on November 10, 1997.
Applicants' Address: 100 North Greene Street, Greensboro, North
Carolina 27401.
Bankers National Variable Account C [File No. 811-4373]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. Applicant, a separate account organized as a
unit investment trust, liquidated its holdings in Conseco Series Trust
and made liquidating distributions to its security holders between
December 10, 1991 and March 5, 1992. All expenses associated with
Applicant's liquidation and dissolution were borne by Applicant's
depositor.
Filing Dates: The application was filed on July 12, 1994, and
amended and restated on October 15, 1997.
Applicant's Address: 11815 N. Pennsylvania Street, Carmel, IN
46032.
Jackson National Capital Management Funds [File No. 811-6611]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On December 20, 1996, applicant distributed
its assets to its public shareholders of record at the net asset value
per share. On December 23, 1996, applicant distributed all remaining
assets to Jackson National Life Insurance Company, the sole remaining
shareholder of record. Applicant's liquidation expenses totaled
approximately $89,000 and were borne by Applicant's investment adviser.
Filing Dates: The application was filed on May 19, 1997, and
amended on October 14, 1997.
Applicant's Address: 5901 Executive Drive, Lansing, Michigan 48911.
John Hancock Series, Inc. [File No. 811-5254]
Summary: Applicant seeks an order declaring that it has ceased to
be an investment company. On December 2, 1996, applicant on behalf of
its series John Hancock Emerging Growth Fund transferred all of its
assets to a new, identically named series of John Hancock Series Trust
(``Series Trust''), based on the relevant net asset value per share of
each fund. Reorganization expenses of approximately $225,106 were borne
equally by applicant and the .Series Trust.
Filing Date: The application was filed on July 7, 1997.
Applicant's Address: 101 Huntington Avenue, Boston, Massachusetts
02199-7603.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-31685 Filed 12-2-97; 8:45 am]
BILLING CODE 8010-01-M
