Federal Register / Vol. 63, No. 126 /Wednesday, July 1, 1998 / Notices 36003

The reasons cited in the application

for withdrawing the Security from

listing and registration include the

following:

The Security has been listed for

trading on the Amex and, pursuant to a

Registration Statement of Form 8–A

which became effective on May 27,

1998, on the New York Stock Exchange,

Inc. (‘‘NYSE’’). Trading in the

Company’s Security under the name

‘‘M&T Bank Corporation’’ commenced

on the NYSE at the opening of business

on June 1, 1998, and concurrently

therewith such Security was suspended

from trading on the Amex.

The Company complied with Amex

Rule 18 by filing with the Exchange a

certified copy of resolutions adopted by

the Company’s Board of Directors

authorizing the withdrawal of the

Security from listing and registration on

the Amex and by setting forth in detail

to the Exchange the reasons and facts

supporting the withdrawal.

In deciding to withdraw its Security

from listing and registration on the

Amex, the Company considered the

direct and indirect costs and the

division of the market resulting from a

dual listing on the NYSE and the Amex.

By letter dated May 22, 1998, the

Amex informed the Company that it has

no objection to the withdrawal of the

Company’s Security from listing and

registration on the Amex.

By reason of Section 12(b) of the Act

and the rules and regulations

thereunder, the Company shall continue

to be obligated to file reports with the

Commission and the NYSE under

Section 13 of the Act.

Any interested person may, on or

before July 16, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Exchange and what terms,

if any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–17434 Filed 6–30–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (Oak Industries Inc.,

Common Stock, $.01 Par Value,

Together With Junior Preferred Stock

Purchase Rights Expiring December 7,

2005) File No. 1–4474

June 24, 1998.

Oak Industries Inc. (‘‘Company’’) has

filed an application with the Securities

and Exchange Commission

(‘‘Commission’’), pursuant to Section

12(d) of the Securities Exchange Act of

1934 (‘‘Act’’) and Rule 12d2–2(d)

promulgated thereunder, to withdraw

the above specified Securities

(‘‘Securities’’) from listing and

registration on the Pacific Exchange,

Inc. (‘‘PCX’’ or ‘‘Exchange’’).

The reasons cited in the application

for withdrawing the Securities from

listing and registration include the

following:

The Securities currently are listed for

trading on both the PCX and New York

Stock Exchange, Inc. (‘‘NYSE’’).

The Company complied with PCX

Rule 3.4(b) by filing with the Exchange

a certified copy of resolutions adopted

by the Company’s Board of Directors

authorizing the withdrawal of the

Securities from listing and registration

on the PCX and by setting forth in detail

to the Exchange the reasons and facts

supporting the withdrawal.

In deciding to withdraw its Securities

from listing and registration on the PCX,

the Company considered the

administrative burden of complying

with the listing requirements and rules

of governance of both the PCX and the

NYSE and the direct and indirect costs

and expenses attendant in maintaining

the dual listing of the Securities.

By letter dated June 3, 1998, the PCX

informed the Company that it had

approved the Company’s request to

withdraw the Securities from listing and

registration on the PCX.

By reason of Section 12(b) of the Act

and the rules and regulations

thereunder, the Company shall continue

to be obligated to file reports with the

Commission and the NYSE under

Section 13 of the Act.

Any interested person may, on or

before July 16, 1998, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Exchange and what terms,

if any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 98–17433 Filed 6–30–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–23284; 812–10620]

PaineWebber America Fund et al.;

Notice of Application

June 24, 1998.

AGENCY: Securities and Exchange

Commission (‘‘Commission’’ or ‘‘SEC’’).

ACTION: Notice of application for an

order under sections 6(c) and 17(b) of

the Investment Company Act of 1940

(the ‘‘Act’’) for an exemption from

sections 17(a) and (e) of the Act, and

under section 17(d) of the Act and rule

17d–1 under the Act to permit certain

joint transactions.

SUMMARY OF APPLICATION: Applicants

request an order to permit certain

registered investment companies to use

cash collateral from securities lending

transactions and uninvested cash to

purchase shares (‘‘Shares’’) of a private

investment company (‘‘New Fund’’)

advised by Mitchell Hutchins Asset

Management Inc. (‘‘Mitchell Hutchins’’);

PaineWebber Incorporated

(‘‘PaineWebber’’) and Mitchell Hutchins

to accept fees from certain other

registered investment companies that

are affiliated persons solely because

they hold 5% or more of the Shares of

the New Fund (the ‘‘Other Funds’’); and

PaineWebber and certain affiliated

broker-dealers to borrow portfolio

securities from certain affiliated

registered investment companies and to

receive brokerage commissions from,

and to engage in principal securities

transactions with, the Other Funds.

APPLICANTS: PaineWebber; Mitchell

Hutchins; PaineWebber America Fund,

PaineWebber Cashfund, Inc.,

PaineWebber Investment Series,

PaineWebber Managed Assets Trust,

PaineWebber Managed Investments

Trust, PaineWebber Managed Municipal

Trust, PaineWebber Master Series, Inc.,

PaineWebber Municipal Series,

PaineWebber Mutual Fund Trust,

PaineWebber Olympus Fund,