[Federal Register Volume 60, Number 61 (Thursday, March 30, 1995)]
[Notices]
[Pages 16523-16524]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-7843]



-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20967; 811-4355]


Kidder, Peabody Tax-Free Income Fund; Notice of Application

March 24, 1995.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of application for deregistration under the Investment 
Company Act of 1940 (the ``Act'').

-----------------------------------------------------------------------

APPLICANT: Kidder, Peabody Tax-Free Income Fund.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant requests an order declaring that it 
has ceased to be an investment company.

FILING DATE: The application was filed on March 7, 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 April 18, 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, D.C. 20549. 
Applicant, 60 Broad Street, New York, New York 10004.

FOR FURTHER INFORMATION CONTACT:
Deepak T. Pai, Staff Attorney, at (202) 942-0574, or Robert A. 
Robertson, 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 organized 
as a Massachusetts business trust. On July 19, 1985, applicant filed a 
notification of registration pursuant to section 8(b) of the Act and a 
registration statement pursuant to the Securities Act of 1933. The 
registration statement became effective on November 22, 1985, and 
applicant commenced the initial public offering of its National Tax-
Free [[Page 16524]] Series' (the ``National Series'') shares and New 
York Tax-Free Series' (the ``New York Series'') shares on December 26, 
1985. Applicant's Massachusetts Tax-Free Series never commenced a 
public offering of its shares.
    2. On June 27, 1990, applicant's trustees approved a plan to 
liquidate applicant's assets and distribute the proceeds in the form of 
cash to applicant's shareholders. Proxy materials were filed with the 
SEC and were distributed, on or about August 16, 1990, to applicant's 
shareholders of record as of July 23, 1990. The liquidation was 
approved by applicant's shareholders at a meeting held on November 2, 
1990.
    3. On November 9, 1990, applicant liquidated the National Series' 
and New York Series' assets. The portfolio securities were disposed of 
by competitive bidding from 16 dealers, with the transactions being 
consummated with the highest bidder. No brokerage commissions were paid 
with respect to these transactions. On November 13, 1990, applicant 
distributed all of the National Series' assets, $11,002,504, to its 
shareholders who received distributions equal to their proportionate 
shares. Each National Series' shareholder received $15.26 per share. 
Also on November 13, 1990, applicant distributed all of the New York 
Series' assets, $3,650,797, to its shareholders who received 
distributions equal to their proportionate shares. Each New York 
Series' shareholder received $14.88 per share.
    4. All expenses incurred in connection with the liquidation, 
consisting of legal, accounting, printing and other expenses, were 
borne by Kidder, Peabody & Co. Incorporated, applicant's principal 
underwriter.
    5. As of the date of the application, applicant had no assets, 
liabilities or shareholders. Applicant is not a party to any litigation 
or administrative proceeding.
    6. Applicant is neither engaged in, nor does it propose to engage 
in, any business activities other than those necessary for the winding-
up of its affairs. Applicant intends to terminate its existence as a 
Massachusetts business trust as soon as practicable.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-7843 Filed 3-29-95; 8:45 am]
BILLING CODE 8010-01-M