Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Notices 20137

1Section 17(a) of the Act generally prohibits sales

or purchases of securities between registered

investment companies and any affiliated person of

that company. Rule 17a–8 provides an exemption

from section 17(a) for certain reorganizations among

registered investment companies that may be

affiliated persons, or affiliated persons of an

affiliated person, solely by reason of having a

common investment adviser, common directors,

and/or common officers. Applicant and the

Acquiring Fund were ‘‘affiliated persons’’ as

defined in the Act solely by reason of having a

common investment adviser.

2 Dividing the number of outstanding shares by

the total net assets does not yield a precise figure

of $1.00 per share. This results from both the effect

on the total net assets of realized gains and losses

resulting from the sale of portfolio securities prior

to their stated maturity and the effect of penny

rounding.

the remainder were divided between

applicant and the Acquiring Fund based

on relative net assets.

6. There are no securityholders to

whom distributions in complete

liquidation of their interests have not

been made. Applicant has no debts or

other liabilities that remain outstanding.

Applicant is not a party to any litigation

or administrative proceeding.

7. Applicant intends to file the

appropriate notice of termination with

Massachusetts authorities.

8. Applicant is not now engaged, nor

does it propose to engage, in any

business activities other than those

necessary for the winding up of its

affairs.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[ FR Doc. 95–9983 Filed 4–21–95; 8:45 am]

BILLING CODE 8010–01–M

[Rel. No. IC–21012; 811–4402]

Smith Barney New York Municipal

Money Market Fund; Notice of

Application

April 17, 1995.

AGENCY: Securities and Exchange

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

ACTION: Notice of application for

deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Smith Barney New York

Municipal Money Market Fund.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company.

FILING DATE: The application was filed

on February 22, 1995 and amended on

April 5, 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

May 15, 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, N.W., Washington, D.C. 20549.

Applicant, 388 Greenwich Street, New

York, New York 10013.

FOR FURTHER INFORMATION CONTACT:

Elaine M. Boggs, Staff Attorney, at (202)

942–0572, or C. David Messman, 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 that

was organized as a business trust under

the laws of Massachusetts. On

September 4, 1985, applicant registered

under the Act as an investment

company, and filed a registration

statement to register its shares under the

Securities Act of 1933. The registration

statement was declared effective on

November 20, 1985, and the initial

public offering commenced shortly

thereafter.

2. On April 27, 1994 and May 25,

1994, applicant’s board of trustees

approved an agreement and plan of

reorganization (the ‘‘Plan’’) between

applicant and Smith Barney Muni

Funds—New York Money Market

Portfolio (the ‘‘Acquiring Fund’’)—a

registered open-end management

investment company. In addition, the

board of trustees made the findings

required by rule 17a–8 under the Act.1

3. On August 2, 1994, applicant

mailed proxy materials to its

shareholders. On November 11, 1994,

applicant’s shareholders approved the

reorganization.

4. Pursuant to the Plan, on November

18, 1994, applicant transferred all of its

assets to the Acquiring Fund in

exchange for shares of the Acquiring

Fund and the assumption by the

Acquiring Fund of certain liabilities of

applicant. Immediately thereafter,

applicant liquidated and distributed pro

rata to its shareholders the shares it

received from the Acquiring Fund in the

reorganization. On November 18, 1994,

applicant had 605,581,399 shares

outstanding, having an aggregate net

asset value of $605,235,435 and a per

share net asset value of $1.00.2

5. Expenses incurred in connection

with the reorganization, consisting of

accounting, printing, administrative,

and legal expenses, totaled $92,383. One

half of the expenses were borne by the

Fund’s sponsor, Smith Barney Inc., and

the remainder were divided between

applicant and the Acquiring Fund based

on relative net assets.

6. There are no securityholders to

whom distributions in complete

liquidation of their interests have not

been made. Applicant has no debts or

other liabilities that remain outstanding.

Applicant is not a party to any litigation

or administrative proceeding.

7. Applicant intends to file the

appropriate notice of termination with

Massachusetts authorities.

8. Applicant is not now engaged, nor

does it propose to engage, in any

business activities other than those

necessary for the winding up of its

affairs.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9984 Filed 4–21–95; 8:45 am]

BILLING CODE 8010–01–M

[Rel. No IC–21018; 811–3019]

Smith Barney Government and

Agencies Fund Inc.; Application

April 18, 1995.

AGENCY: Securities and Exchange

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

ACTION: Notice of application for

deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Smith Barney Government

and Agencies Fund Inc.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company.

FILING DATE: The application was filed

on February 22, 1995 and amended on

April 5, 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
20138 Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Notices

1Section 17(a) of the Act generally prohibits sales

or purchases of securities between registered

investment companies and any affiliated person of

that company. Rule 17a–8 provides an exemption

from section 17(a) for certain reorganizations among

registered investment companies that may be

affiliated persons, or affiliated persons of an

affiliated person, solely by reason of having a

common investment adviser, common directors,

and/or common officers. Applicant and the

Acquiring Fund were ‘‘affiliated persons’’ as

defined in the Act solely by reason of having a

common investment adviser.

2 Dividing the number of outstanding shares by

the total net assets does not yield a precise figure

of $1.00 per share. This results from both the effect

on the total net assets of realized gains and losses

resulting from the sale of portfolio securities prior

to their stated maturity and the effect of penny

rounding.

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

May 15, 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, DC 20549.

Applicant, 388 Greenwich Street, New

York, New York 10013.

FOR FURTHER INFORMATION CONTACT:

Elaine M. Boggs, Staff Attorney, at (202)

942–0572, or C. David Messman, 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 that

was organized as a corporation under

the laws of Maryland. On March 24,

1980, applicant registered under the Act

as an investment company, and filed a

registration statement to register its

shares under the Securities Act of 1933.

The registration statement was declared

effective on March 31, 1980, and the

initial public offering commenced

shortly thereafter.

2. On April 27, 1994 and May 25,

1994, applicant’s board of trustees

approved an agreement and plan of

reorganization (the ‘‘Plan’’) between

applicant and Smith Barney Money

Funds, Inc.—Government Portfolio (the

‘‘Acquiring Fund’’)—a registered openend management investment company.

In addition, the board of trustees made

the findings required by rule 17a–8

under the Act.1

3. On July 27, 1994, applicant mailed

proxy materials to its shareholders. On

November 11, 1994, applicant’s

shareholders approved the

reorganization at a special meeting of

shareholders.

4. Pursuant to the Plan, on November

18, 1994, applicant transferred all of its

assets to the Acquiring Fund in

exchange for shares of the Acquiring

Fund and the assumption by the

Acquiring Fund of certain liabilities of

applicant. Immediately thereafter,

applicant liquidated and distributed pro

rata to its shareholders the shares it

received from the Acquiring Fund in the

reorganization. On November 18, 1994,

applicant had 3,137,812,379 shares

outstanding, having an aggregate net

asset value of $3,137,185,387 and a per

share net asset value of $1.00.2

5. Expenses incurred in connection

with the reorganization, consisting of

accounting, printing, administrative,

and legal expenses, totaled $472,492.

One half of the expenses were borne by

the Fund’s sponsor, Smith Barney Inc.,

and the remainder were divided

between applicant and the Acquiring

Fund based on relative net assets.

6. There are no security holders to

whom distributions in complete

liquidation of their interests have not

been made. Applicant has no debts or

other liabilities that remain outstanding.

Applicant is not a party to any litigation

or administrative proceeding.

7. Applicant intents to file the

appropriate notice of termination with

Maryland authorities.

8. Applicant is not now engaged, nor

does it propose to engage, in any

business activities other than those

necessary for the winding up of its

affairs.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–10046 Filed 4–21–95; 8:45 am]

BILLING CODE 8010–01–M

[Rel. No. IC–21017; 811–2914]

Smith Barney Daily Dividend Fund Inc.;

Application

April 18, 1995.

AGENCY: Securities and Exchange

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

ACTION: Notice of application for

deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Smith Barney Daily

Dividend Fund Inc.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company.

FILING DATE: The application was filed

on February 22, 1995 and amended on

April 5, 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

May 15, 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, DC 20549.

Applicant, 388 Greenwich Street, New

York, New York 10013.

FOR FURTHER INFORMATION CONTACT:

Elaine M. Boggs, Staff Attorney, at (202)

942–0572, or C. David Messman, 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 that

was organized as a corporation under

the laws of Maryland. On March 20,

1979, applicant registered under the Act

as an investment company, and filed a

registration statement to register its

shares under the Securities Act of 1933.

The registration statement was declared

effective on June 21, 1979, and the

initial public offering commenced

shortly thereafter.

2. On April 27, 1994 and May 25,

1994, applicant’s board of trustees

approved an agreement and plan of

reorganization (the ‘‘Plan’’) between

applicant and Smith Barney Money

Funds, Inc.—Cash Portfolio (the

‘‘Acquiring Fund’’)—a registered open-