[Federal Register Volume 63, Number 107 (Thursday, June 4, 1998)]
[Notices]
[Pages 30524-30525]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-14826]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-23226]


Notice of Applications for Deregistration Under Section 8(f) of 
the Investment Company Act of 1940

May 29, 1998.
    The following is a notice of applications for deregistration under 
section 8(f) of the Investment Company Act of 1940 for the month of 
May, 1998. A copy of each application may be obtained for a fee at the 
SEC's Public Reference Branch, 450 Fifth St., N.W., Washington, DC 
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 June 23, 1998, 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, DC 20549. For further information, contact: 
Diane L. Titus, at (202) 942-0564, SEC, Division of Investment 
Management, Office of Investment Company Regulation, Mail Stop 5-6, 450 
Fifth Street, N.W., Washington, DC 20549.

Farrell Alpha Strategies [File No. 811-9048]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On December 29, 1997, applicant completed a 
liquidating distribution to its shareholders at net asset value. 
Expenses incurred in connection with the liquidation were under $5,000 
and were paid by applicant's investment adviser, Farrell-Wako Global 
Investment Management, Inc.
    Filing Dates: The application was filed on March 16, 1998, and 
amended on May 5, 1998.
    Applicant's Address: 780 Third Avenue, 38th Floor, New York, New 
York 10017.

Franklin Templeton Japan Fund [File No. 811-6664]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On March 26, 1998, applicant made a 
liquidating distribution to its shareholders based on the net assets of 
applicant. Expenses incurred in connection with the liquidation totaled 
approximately $49,379, and were borne equally by applicant and 
Templeton Investment Counsel, Inc., applicant's investment adviser.
    Filing Dates: The application was filed on March 31, 1998 and 
amended on May 1, 1998.
    Applicant's Address: 100 Fountain Parkway, P.O. Box 33030, St. 
Petersburg, Florida 33733-8030.

Panther Partners, L.P. [File No. 811-6559]

    Summary: Applicant, a Delaware limited partnership, seeks an order 
declaring that it has ceased to be an investment company. On June 30, 
1997, applicant distributed 97% of the amount in each partner's capital 
account to each partner in cash or in kind, based on that partner's 
election. The remaining 3% of each account was distributed in cash to 
all partners on September 15 and October 1, 1997 upon completion of the 
fund's final audit.

[[Page 30525]]

Expenses incurred in connection with the liquidation were borne by 
Tiger Management L.L.C., an affiliate of applicant's investment 
adviser.
    Filing Dates: The application was filed on March 25, 1998, and 
amended on May 11, 1998.
    Applicant's Address: 101 Park Avenue, New York, New York 10178.

Merrill Lynch KECALP Growth Investments Limited Partnership 1983 
[File No. 811-3389] and Merrill Lynch KECALP L.P. 1984 [File No. 
811-3909]

    Summary: Each applicant seeks an order declaring that it has ceased 
to be an investment company. On December 23, 1997, each applicant 
distributed its assets to its securityholders at the net asset value 
per share. Expenses of approximately $30,000 are expected to be 
incurred in connection with each applicant's liquidation and will be 
borne by KECALP, Inc., the general partner of applicants.
    Filing Dates: Each application was filed on February 23, 1998, and 
amended on April 29, 1998.
    Applicants' Address: South Tower, World Financial Center, 225 
Liberty Street, New York, New York 10080.

The Laidlaw Covenant Fund [811-7602]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On December 20, 1996, applicant transferred 
all of its assets and liabilities to Value Fund, a series of The 
Vintage Funds, based on the relative net asset values per share. 
Laidlaw Holdings Asset Management, Inc., applicant's investment 
adviser, incurred expenses in connection with the merger of $25,000, 
with any expenses exceeding that amount borne by Vintage Advisers, 
Inc., The Vintage Funds' investment adviser.
    Filing Dates: The application was filed on November 18, 1997 and 
amended on May 14, 1998.
    Applicant's Address: 100 Park Avenue, New York, NY 10017.

Allmerica Funds [File No. 811-6308]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On October 31, 1997, applicant made a 
liquidating distribution to its sole shareholder at net asset value. No 
expenses were incurred in connection with the liquidation. Applicant 
retained $9,201 to cover outstanding liabilities relating to advisory 
fees, printing fees, custody fees and tax services.
    Filing Dates: The application was filed on November 12, 1997, and 
amended on May 19, 1998.
    Applicant's Address: 440 Lincoln Street, Worcester, Massachusetts 
06153.

Putnam Adjustable Rate U.S. Government Fund [File No. 81-4531]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On November 8, 1996, applicant transferred 
its assets and liabilities to the Putnam Intermediate U.S. Government 
Income Fund (``Putnam Intermediate'') based on the relative net asset 
values per share. Applicant paid approximately $78,604 in expenses 
related to the reorganization. Putnam Intermediate paid approximately 
$41,620 in reorganization expenses.
    Filing Dates: The application was filed on March 17, 1998 and 
amended on May 11, 1998.
    Applicant's Address: One Post Office Square, Boston, MA 02109.

Consultants Trust [811-7542]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant abandoned its intention to operate 
before it received any assets. Applicant never issued securities.
    Filing Dates: The application was filed on April 21, 1998 and 
applicant has agreed to file an amendment during the notice period.
    Applicant's Address: 2303 Yorktown Avenue, Lynchburg, Virginia 
24501.

Midcap Growth Portfolio [811-7638]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. Applicant has never made a public offering of 
its securities and does not propose to make a public offering or engage 
in business of any kind.
    Filing Dates: The application was filed on May 11, 1998 and 
applicant has agreed to file an amendment during the notice period.
    Applicant's Address: 777 Mariners Island Blvd., P.O. Box 7777, San 
Mateo, CA 94403-7777.

John Hancock Sovereign Investors Fund, Inc. [File No. 811-115]

    Summary: Applicant seeks an order declaring that it has ceased to 
be an investment company. On December 2, 1996, applicant, on behalf of 
John Hancock Sovereign Investors Fund (the ``Fund''), a series of 
applicant, transferred all of the Fund's assets and liabilities to John 
Hancock Sovereign Investors Fund, a series of John Hancock Investment 
Trust, based on the relative net asset values per share. Applicant bore 
approximately $266,103 in reorganization expenses. John Hancock 
Investment Trust bore approximately $307,727 in reorganization 
expenses.
    Filing Dates: The application was filed on October 6, 1997 and 
amended on May 22, 1998.
    Applicant's Address: 101 Huntington Avenue, Boston, MA 02199-7603.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-14826 Filed 6-3-98; 8:45 am]
BILLING CODE 8010-01-M