3894 Federal Register / Vol. 60, No. 12 / Thursday, January 19, 1995 / Notices

1The DBL Liquidating Trust is the successor to

applicant’s depositor. Drexel Burnham Lambert

Incorporated (‘‘Drexel’’), for the purpose set forth in

its Second Amended and Restated Joint Plan of

Reorganization under Chapter 11 of the United

States Bankruptcy Code.

2According to the terms of the Liquidating

Indenture, the proceeds form the sale of securities

in each liquidating trust were credited to an

individual principal account for each liquidating

trust. The UIT trustee also collected the interest on

the securities as it became payable and credited

such interest to a separate interest account for each

liquidating trust.

FILING DATES: The application was filed

on August 17, 1994 and amended on

December 22, 1994.

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

February 6, 1995, 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 he 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 Fifth

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

Applicant, c/o The DBL Liquidating

Trust, 450 Lexington Avenue, Suite

1400, New York, NY 10017–3911.1

FOR FURTHER INFORMATION CONTACT:

Marianne H. Khawly, Staff Attorney, at

(202) 942–0562, 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 from the SEC’s

Public Reference Branch.

Applicant’s Representations

1. Applicant is a registered unit

investment trust under the Act and was

organized as a business trust under the

laws of the State of New York. On

October 17, 1984, applicant filed a

Notification of Registration on Form N–

8A pursuant to section 8(a) of the Act

and a registration statement on Form N–

8B–2 under section 8(b) of the Act and

under the Securities Act of 1933 (the

‘‘Securities Act’’). The registration

statement became effective on

November 27, 1984.

2. Between November 27, 1984 and

July 30, 1987, applicant registered and

commenced initial public offerings for

High Income Trust Securities Series

(‘‘HITS Series’’) 1 through 13 and the

First Preferred Put Series (‘‘Preferred

Series’’). Each series had a single class

of securities (the ‘‘unit(s)’’).

3. Complete liquidation of the

interests of all unit holders was made in

connection with the termination of the

trusts according to their terms. In

connection with the termination of

HITS Series 1 through 3 and HITS

Series 6 through 13, liquidating trusts

were created by a Liquidating Trust

Indenture (the ‘‘Liquidating Indenture’’)

dated June 29, 1989. United States Trust

Company of New York (the ‘‘UIT trust’’)

acts as trustee for the liquidating trusts.

The Liquidating Indenture was created

for the purpose of liquidating the

securities set forth in the schedules to

the Liquidating Indenture which

securities were not sold by the UIT

trustee in connection with the

termination of the trusts as a result of a

determination that transfer of such

securities at such time to liquidating

trusts would be in the best interests of

the unit holders. The Liquidating

Indenture was created pursuant to two

trust indentures and agreements dated

November 26, 1984 and May 29, 1985,

each between Drexel, the UIT trustee,

and Interactive Data Services, Inc. (the

‘‘Evaluator’’).

4. Securities remain in the liquidating

trusts for HITS Series 2, 6, and 8. The

number of units outstanding for those

liquidating trusts are 26,250, 15,746,

and 18,200, respectively. The number of

security holders of the liquidating trusts

are 442, 466, and 489, respectively. The

securities which remain were received

in a restructuring of the issuer’s debt

and have not been registered under the

Securities Act. Upon expiration of the

time period specified in rule 144, the

UIT trustee anticipates that it will be

able to sell the securities and distribute

the proceeds less expenses to the

security holders of the trusts.

5. The liquidating trusts’ activities are

limited to holding the assets transferred

to liquidating trusts by the trusts on

behalf of their beneficiaries with respect

to such assets, preserving and protecting

the property of the liquidating trusts,

and providing for the orderly

liquidation of the assets transferred to

the liquidating trusts.

6. Distributions from each liquidating

trust were made in accordance with the

Liquidating Indenture. Upon receipt of

the last proceeds of sale of the securities

of each liquidating trust, the UIT trustee

paid itself any amounts then owed in

respect of accrued fees and expenses

and distributed to each unit holder who

had surrendered his or her certificate,

by check, such unit holder’s interest in

the balance of he principal and interest

accounts.2 With respect to bonds held in

the HITS Series, the UIT trustee sought

bids form three dealers in the securities

(in certain cases, three bids could not be

obtained) and the sale was made to the

highest bidder. The securities held in

the Preferred Series were sold to

Goldome FSB, pursuant to a put option,

in accordance with its trust indenture

and agreement and purchase agreement

dated July 17, 1985.

7. The aggregate principal and interest

distributions to unit holders of those

trusts which have no remaining unit

holders was approximately $55,907,487

and $1,996,427, respectively.

8. Each trust and liquidating trust

paid or was charged the expenses

incurred by it in connection with the

liquidation. The aggregate amount of

expenses borne by the trusts and

liquidating trusts was approximately

$405,837. Such expenses included UIT

trustee and Evaluator fees, the cost of

preparing tax returns and the final

annual report, and postage charges.

9. As of the date of the application,

applicant had no assets, liabilities, or

unit holders. Applicant is not a party to

any litigation or administrative

proceeding. Applicant is not engaged,

nor proposes to engage, in any business

activities other than those necessary for

the winding-up of its affairs.

10. The existence of applicant under

New York Law terminated upon the

termination of each trust. Each trust

terminated upon the distribution of all

its assets.

For the SEC, by the Division of Investment

Management, under delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–1284 Filed 1–18–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. IC–20834; 811–3412]

Fixed Income Trust; Notice of

Application

January 12, 1995.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for

deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Fixed Income Trust.

RELEVANT ACT SECTION: Order requested

under section 8(f).
Federal Register / Vol. 60, No. 12 / Thursday, January 19, 1995 / Notices 3895

1The DBL Liquidating Trust is the successor to

applicant’s depositor, Drexel Burnham Lambert

Incorporated (‘‘Drexel’’), for the purposes set forth

in its Second Amended and Restated Joint Plan of

Reorganization under Chapter 11 of the United

States Bankruptcy Code.

2According to the terms of the indenture

agreement, the proceeds from the sale of securities

in the trust were credited to an account known as

the principal account. The trustee also collected the

interest on the securities as it became payable and

credited such interest to a separate account known

as the interest account.

SUMMARY OF APPLICATION: Applicant

seeks an order declaring it has ceased to

be an investment company.

FILING DATES: The application was filed

on August 17, 1994 and amended on

December 22, 1994.

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

February 6, 1995, 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 may request notification of a

hearing by writing to the SEC’s

Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth

Street, NW., Washington, DC 20549.

Applicant, c/o The DBL Liquidating

Trust, 450 Lexington Avenue, Suite

1400, New York, NY 10017–3911.1

FOR FURTHER INFORMATION CONTACT:

Marianne H. Khawly, Staff Attorney, at

(202) 942–0562, 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 from the SEC’s

Public Reference Branch.

Applicant’s Representations

1. Applicant is a registered unit

investment trust under the Act and was

organized as a business trust under the

laws of the State of New York. On

March 3, 1982, applicant filed a

Notification of Registration on Form N–

8A pursuant to section 8(a) of the Act

and a registration statement on Form N–

8B–2 under section 8(b) of the Act and

under the Securities Act of 1933. The

registration statement became effective

on April 30, 1982 and applicant’s initial

public offering commenced on that date.

2. Applicant consisted of one series,

the Zero Coupon Series 1 (the ‘‘series’’),

and registered 1,084,287 units of a

single class of securities (the ‘‘unit(s)’’).

As of July 1, 1991, the series had

169,048 units outstanding.

3. The trust terminated in accordance

with the terms of the indenture

pursuant to which it was created with

the maturity of the last security held in

the portfolio of the trust on July 1, 1991.

Upon receipt of the last proceeds of sale

of the securities, the trustee, United

States Trust Company of New York,

paid itself any amounts then owed in

respect of accrued fees and expenses

and distributed to each unit holder who

had surrendered his or her certificate,

by check, such unit holder’s interest in

the balance of the principal and interest

accounts.2

4. On July 16, 1991, applicant made

its final distribution to its remaining

unit holders. The per unit distribution

from the principal and interest accounts

was $12.94 and $0.32, respectively. The

aggregate distribution from the principal

and interest accounts was $2,187,481.12

and $54,095.36, respectively.

5. Applicant bore approximately

$3,859.40 in expenses in connection

with the liquidation. Such expenses

included trustee and evaluator fees, the

cost of preparing tax returns and the

final annual report, and postage charges.

6. As of the date of the application,

applicant had no assets, liabilities, or

unit holders. Applicant is not a party to

any litigation or administrative

proceeding. Applicant is not engaged,

nor proposes to engage, in any business

activities other than those necessary for

the winding-up of its affairs.

7. Applicant terminated its existence

as a business trust under New York law

on July 16, 1991.

For the SEC, by the Division of Investment

Management, under delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–1285 Filed 1–18–95; 8:45 am]

BILLING CODE 8010–01–M

[Rel No. IC–20835; File No. 812–9278]

Hartford Life Insurance Company, et al.

January 12, 1995.

AGENCY: Securities and Exchange

Commission (the ‘‘Commission’’).

ACTION: Notice of application for

exemption under the Investment

Company Act of 1940 (‘‘1940 Act’’).

APPLICANTS: Hartford Life Insurance

Company (‘‘Hartford Life’’), Hartford

Life Insurance Company Separate

Account Three (‘‘HL Separate Account

Three’’), Hartford Life Insurance

Company Separate Account Two (‘‘HL

Separate Account Two’’), Hartford Life

Insurance Company/Putnam Capital

Management Trust Separate Account

(‘‘PCM Separate Account’’), Hartford

Life Insurance Company DC Variable

Account-I (‘‘Separate Account DC–I’’)

(HL Separate Account Three, HL

Separate Account two, PCM Separate

Account, and Separate Account DC–I

referred to collectively as the ‘‘Separate

Accounts’’), and Hartford Securities

Distributors, Inc. (‘‘HSD‘‘).

RELEVANT 1940 ACT SECTIONS: Order

Requested Under Section 6(c)

exempting Applicants from Sections

26(a)(2)(C) and 27(c)(2) of the 1940 Act.

SUMMARY OF APPLICATION: Applicants

seek an order permitting payment to

Hartford Life of a mortality and expense

risk charge from the assets of the

Separate Accounts funding individual

and group variable annuity contracts

issued by Hartford Life and

underwritten by HSD (the ‘‘Contracts’’).

The order would apply to future

separate accounts of Hartford Life

issuing contracts that are materially

similar to the Contracts, and would

permit applicants to substitute HSD for

Hartford Equity Sales Company

(‘‘HESCO’’) as the principal underwriter

of the Contracts.

FILING DATE: The application was filed

on October 12, 1994, and amended on

November 14, 1994, December 22, 1994,

and January 5, 1995.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing on the application by writing

to the Secretary of the Commission and

serving the Applicants with a copy of

the request, either personally or by mail.

Hearing requests must be received by

the Commission by 5:30 p.m. on

February 6, 1995, and should be

accompanied by proof of service on the

Applicants in the form of an affidavit or,

for lawyers, by certificate of service.

Hearing requests should state the nature

of the interest, the reason for the

request, and the issues contested.

Persons may request notification of the

date of a hearing by writing to the

Secretary of the Commission.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 5th Street

NW., Washington, D.C. 20549.

Applicants, c/o Rodney J. Vessels,

Counsel, Hartford Life Insurance

Company, 200 Hopmeadow Street,

Simsbury, CT 06089.