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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549
                           --------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934
                            -------------------------

       Date of Report (Date of earliest event reported): December 1, 1998

                          MERRILL LYNCH DEPOSITOR, INC.
            (ON BEHALF OF PUBLIC STEERS(R) SERIES 1998 TRV-C1 TRUST)
             (Exact name of registrant as specified in its charter)

     DELAWARE                    333-29015                    13-3891329
  (State or other               (Commission                (I. R. S. Employer
 jurisdiction  of               File Number)              Identification No.)
  incorporation)

                WORLD FINANCIAL CENTER,                            10281
                  NEW YORK,  NEW YORK                           (Zip Code)
                 (Address of principal
                  executive offices)
                           --------------------------

       Registrant's telephone number, including area code: (212) 449-1000

                      INFORMATION TO BE INCLUDED IN REPORT


ITEM 1.    CHANGES IN CONTROL OF REGISTRANT

           Not Applicable

ITEM 2.    ACQUISITION OF DISPOSITION OF ASSETS

           Not Applicable

ITEM 3.    BANKRUPTCY OR RECEIVERSHIP

           Not Applicable

ITEM 4.    CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

           Not Applicable
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ITEM 5.    OTHER EVENTS

           99.1     Distribution to holders of the Public STEERS(R) 
                    Series 1998 TRV-C1 Trust Class A Certificates on 
                    December 1, 1998.

ITEM 6.    RESIGNATION OF REGISTRANT'S DIRECTORS

           Not Applicable

ITEM 7.    FINANCIAL STATEMENTS AND EXHIBITS

           (a)      Financial statements of business acquired.

                    Not applicable

           (b)      Pro forma financial information.

                    Not applicable.

           (c)      Exhibits.

                    99.1     Trustee's report in respect of the December 
                             1,  1998 distribution to holders of the 
                             Public STEERS(R) Series 1998 TRV-C1 Trust
                             Class A Certificates.

ITEM 8.    CHANGE IN FISCAL YEAR

           Not Applicable.

ITEM 9.    SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S

           Not Applicable

                            SIGNATURES

           Pursuant to the requirements of the Securities Exchange Act of 1934, 
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.


                                                 MERRILL LYNCH DEPOSITOR, INC.

         Date:  12/15/98                         By: /s/ Frank D. Ronan
                                                 Name:  Frank D. Ronan
                                                 Title: President
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                                  EXHIBIT INDEX


                    99.1     Trustee's report in respect of the December 1, 1998
distribution to holders of the Public STEERS(R) Series 1998 TRV-C1 Trust Class A
Certificates.
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                                  EXHIBIT 99.1

                               DISTRIBUTION REPORT
                                       FOR
                    PUBLIC STEERS(R) SERIES 1998 TRV-C1 TRUST

                                DISTRIBUTION DATE
                                DECEMBER 1, 1998
                             CUSIP NUMBER 744593203

           (i)      the amounts received by the Trustee as of the last such
                    statement in respect of principal, interest and premium on
                    the Travelers Capital II Trust Preferred Securities
                    (liquidation value $1,000 per Trust Preferred Security)
                    (the "Underlying Securities"):

                             Interest:                  $968,750.00
                             Principal:                        0.00
                             Premium:                          0.00

           (ii)     the amounts of compensation received by the Trustee, for
                    the period relating to such Distribution Date:

                             Paid by the Trust:               $0.00
                             Paid by the Depositor:       $1,000.00

           (iii)    the amount of distribution on such Distribution Date to
                    Holders allocable to principal of and premium, if any, and
                    interest on the Certificates of each such Class and the
                    amount of aggregate unpaid interest accrued as of such
                    Distribution Date: 

                     Class A: 
                             Interest:                  $968,750.00
                             Principal:                       $0.00

                             Unpaid Interest Accrued:         $0.00

           (iv)     the aggregate stated principal amount and, if applicable,
                    notional amount of the Underlying Securities related to
                    such Series, the current interest rate or rates thereon at
                    the close of business on such Distribution Date, and the
                    current rating assigned to the Certificates.

                             Principal Amount:              $25,000
                             (Liquidation Value $1,000 per Trust 
                             Preferred Security)
                             Interest Rate:                    7.75%
                             Rating:
                                     Moody's Investor Service            AA3
                                     Standard & Poor's Rating Service    A+
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           (v)      the aggregate Certificate Principal Balance (or Notional
                    Amount, if applicable) of each Class of such Series at the
                    close of business on such Distribution Date.

                             Class A: ($10 Stated Amount)
                             Initial Principal Balance:            $2,500,000
                             Reduction:                                    (0) 
                                                                   ----------
                             Principal Balance 12/1/98:            $2,500,000