[Federal Register Volume 62, Number 136 (Wednesday, July 16, 1997)]
[Notices]
[Pages 38147-38148]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18609]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. IC-22742; 811-6291]
Dean Witter Premier Income Trust; Notice of Application
July 9, 1997.
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: Dean Witter Premier Income Trust.
RELEVANT ACT SECTION: Order requested under section 8(f) of the Act.
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATE: The application was filed on June 16, 1997.
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 August 4, 1997,
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 who wish to be
notified of a hearing may request notification by writing to the SEC's
Secretary.
[[Page 38148]]
ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C.
20549. Applicant, Two World Trade Center, New York, N.Y. 10048.
FOR FURTHER INFORMATION CONTACT: Joseph B. McDonald, Jr., Senior
Counsel, at (202) 942-0533, or Mary Kay Frech, 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, diversified management investment
company organized as a Massachusetts business trust under the laws of
the Commonwealth of Massachusetts. On March 29, 1991, applicant
registered under the Act and filed a registration statement under the
Securities Act of 1933 to register its shares. The registration
statement became effective on May 30, 1991, and applicant commenced its
initial public offering of shares the following day.
2. On January 23, 1997, applicant's board of trustees approved a
plan of liquidation and dissolution (``Liquidation Plan''). The
Liquidation Plan provided for the liquidation of applicant and the
distribution of applicant's remaining assets to its securityholders. In
approving the Liquidation Plan, the trustees considered a number of
factors, including applicant's shrinking asset base and the
inefficiencies, higher costs and disadvantageous economies of scale
attendant with decreased assets. Based on consideration of all the
factors deemed relevant by it, the board of trustees determined that
the adoption of the Liquidation Plan would be in the best interests of
applicant and its securityhoulders.
3. On or about February 21, 1997, proxy materials soliciting
approval of the liquidation were sent to applicant's securityholders.
Pursuant to applicant's Declaration of Trust, as amended, applicant's
securityholders approved the Liquidation Plan at a special meeting held
on May 1, 1997.
4. As of May 9, 1997, applicant had total net assets of
$12,694,788.40, comprising 1,449,722.565 shares, with a per share net
asset value of $8.756702. On May 12, 1997, applicant's securityholders
were paid a final liquidation distribution of $8.756702 per share equal
to the securityholders' proportionate interest in the remaining assets
of applicant.
5. Approximately $16,000 of expenses, including the costs of
printing and mailing the proxy statement and any additional material
relating to the shareholder meeting at which the liquidation of
applicant was approved and any expenses relating to deregistering
applicant as an investment company and dissolving applicant, were borne
by the applicant. Any additional costs relating to soliciting proxies
were paid by Dean Witter InterCapital Inc., applicant's investment
adviser.
6. As of the date of the application, applicant had no
securityholders, debts, liabilities, or assets and was not a party to
any litigation or administrative proceeding. Applicant is not engaged,
nor dose it propose to engage, in any business activities other than
those necessary for the winding-up of its affairs.
7. Applicant intends to file Articles of Dissolution with the
Secretary of State of The Commonwealth of Massachusetts.
For the Commission, by the Division of Investment Management,
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-18609 Filed 7-15-97; 8:45 am]
BILLING CODE 8010-01-M
