[Federal Register Volume 60, Number 61 (Thursday, March 30, 1995)]
[Notices]
[Pages 16523-16524]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7843]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20967; 811-4355]
Kidder, Peabody Tax-Free Income Fund; Notice of Application
March 24, 1995.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of application for deregistration under the Investment
Company Act of 1940 (the ``Act'').
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APPLICANT: Kidder, Peabody Tax-Free Income Fund.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATE: The application was filed on March 7, 1995.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC orders a hearing. Interested persons may
request a hearing by writing to the SEC's Secretary and serving
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 April 18, 1995
and should be accompanied by proof of service on 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 may request
notification of a hearing by writing to the SEC's Secretary.
ADDRESSES: Secretary, SEC, 450 5th Street NW., Washington, D.C. 20549.
Applicant, 60 Broad Street, New York, New York 10004.
FOR FURTHER INFORMATION CONTACT:
Deepak T. Pai, Staff Attorney, at (202) 942-0574, or Robert A.
Robertson, Branch Chief, at (202) 942-0564 (Division of Investment
Management, Office of Investment Company Regulation).
SUPPLEMENTARY INFORMATION:
The following is a summary of the application. The complete
application may be obtained for a fee at the SEC's Public Reference
Branch.
Applicant's Representations:
1. Applicant is an open-end management investment company organized
as a Massachusetts business trust. On July 19, 1985, applicant filed a
notification of registration pursuant to section 8(b) of the Act and a
registration statement pursuant to the Securities Act of 1933. The
registration statement became effective on November 22, 1985, and
applicant commenced the initial public offering of its National Tax-
Free [[Page 16524]] Series' (the ``National Series'') shares and New
York Tax-Free Series' (the ``New York Series'') shares on December 26,
1985. Applicant's Massachusetts Tax-Free Series never commenced a
public offering of its shares.
2. On June 27, 1990, applicant's trustees approved a plan to
liquidate applicant's assets and distribute the proceeds in the form of
cash to applicant's shareholders. Proxy materials were filed with the
SEC and were distributed, on or about August 16, 1990, to applicant's
shareholders of record as of July 23, 1990. The liquidation was
approved by applicant's shareholders at a meeting held on November 2,
1990.
3. On November 9, 1990, applicant liquidated the National Series'
and New York Series' assets. The portfolio securities were disposed of
by competitive bidding from 16 dealers, with the transactions being
consummated with the highest bidder. No brokerage commissions were paid
with respect to these transactions. On November 13, 1990, applicant
distributed all of the National Series' assets, $11,002,504, to its
shareholders who received distributions equal to their proportionate
shares. Each National Series' shareholder received $15.26 per share.
Also on November 13, 1990, applicant distributed all of the New York
Series' assets, $3,650,797, to its shareholders who received
distributions equal to their proportionate shares. Each New York
Series' shareholder received $14.88 per share.
4. All expenses incurred in connection with the liquidation,
consisting of legal, accounting, printing and other expenses, were
borne by Kidder, Peabody & Co. Incorporated, applicant's principal
underwriter.
5. As of the date of the application, applicant had no assets,
liabilities or shareholders. Applicant is not a party to any litigation
or administrative proceeding.
6. Applicant is neither engaged in, nor does it propose to engage
in, any business activities other than those necessary for the winding-
up of its affairs. Applicant intends to terminate its existence as a
Massachusetts business trust as soon as practicable.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-7843 Filed 3-29-95; 8:45 am]
BILLING CODE 8010-01-M
