[Federal Register Volume 59, Number 10 (Friday, January 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-998]


[[Page Unknown]]

[Federal Register: January 14, 1994]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Rel. No. 20007; 811-3377]

 

Gradison U.S. Government Trust; Application for Deregistration

January 10, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').

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

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

APPLICANT: Gradison U.S. Government Trust.

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 December 13, 1993.

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 4, 1994 
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 who wish to be 
notified of a hearing may request such notification by writing to the 
SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth Street NW., Washington, DC 20549. 
Applicant, 580 Walnut Street, Cincinnati, Ohio 45202.

FOR FURTHER INFORMATION CONTACT:
James M. Curtis, Senior Counsel, at (202) 504-2406, or Barry D. Miller, 
Senior Special Counsel, at (202) 272-3018 (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 diversified open-end management investment 
company organized as a Massachusetts business trust. On January 15, 
1992, applicant filed a notification of registration pursuant to 
section 8(1) of the Act and a registration statement under section 8(b) 
of the Act and under the Securities Act of 1933. The registration 
statement was declared effective on April 13, 1982, and applicant 
commenced its initial public offering on that date.
    2. On June 14, 1993, applicant's board of trustees approved, 
subject to shareholder approval, an Agreement and Plan or 
Reorganization and Liquidation (the ``Reorganization'') providing for 
the transfer of all or substantially all of the assets and liabilities 
of applicant to Gradison Cash Reserves Trust (the ``Acquiring Fund'') 
in exchange for shares of the Gradison-McDonald U.S. Government 
Reserves Series of Gradison Cash Reserves Trust (``GM-US Shares'') and 
the assumption of liabilities. According to a registration statement 
filed by the Acquiring Fund on July 1, 1993, containing a proxy 
statement/prospectus, the Board of Trustees of applicant, including the 
trustees who are not ``interested persons'' of applicant as that term 
is defined in the Act, concluded that the Reorganization would be in 
the best interests of the shareholders of applicant, and that the 
interests of applicant's shareholders would not be diluted as a result.
    3. The registration statement on Form N-14 and the proxy statement/
prospectus contained therein was furnished to applicant's shareholders 
on or about August 15, 1993. At a special meeting of shareholders held 
on September 15, 1993, the holders of at least a majority of the 
outstanding voting shares of applicant approved the Reorganization.
    4. On September 24, 1993, 24,964,000 shares of applicant were 
outstanding at a net asset value of $1.00 per share. At such date, 
aggregate net assets of applicant were $24,964,000. As of September 24, 
1993, GM-US Shares were distributed to applicant's shareholders. Each 
shareholder received the proportion of GM-US Shares received by 
applicant that the number of applicant shares owned by each such 
shareholder bore to the number of outstanding applicant shares.
    5. Applicant's investment adviser paid expenses incurred in the 
reorganization totalling $54,222.
    6. As of the date of the application, applicant had no 
shareholders, assets, or liabilities. Applicant is not a party to any 
litigation or administrative proceeding. Applicant is not presently 
engaged in, nor does it propose to engage in, any business activities 
other than those necessary for the winding up of its affairs.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-998 Filed 1-13-94; 8:45 am]
BILLING CODE 8010-01-M