[Federal Register Volume 62, Number 136 (Wednesday, July 16, 1997)]
[Notices]
[Pages 38147-38148]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18609]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-22742; 811-6291]


Dean Witter Premier Income Trust; Notice of Application

July 9, 1997.
AGENCY: Securities and Exchange Commission (``SEC'').

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

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APPLICANT: Dean Witter Premier Income Trust.

RELEVANT ACT SECTION: Order requested under section 8(f) of the Act.

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

FILING DATE: The application was filed on June 16, 1997.

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 August 4, 1997, 
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 notification by writing to the SEC's 
Secretary.


[[Page 38148]]


ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C. 
20549. Applicant, Two World Trade Center, New York, N.Y. 10048.

FOR FURTHER INFORMATION CONTACT: Joseph B. McDonald, Jr., Senior 
Counsel, at (202) 942-0533, or Mary Kay Frech, 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, diversified management investment 
company organized as a Massachusetts business trust under the laws of 
the Commonwealth of Massachusetts. On March 29, 1991, applicant 
registered under the Act and filed a registration statement under the 
Securities Act of 1933 to register its shares. The registration 
statement became effective on May 30, 1991, and applicant commenced its 
initial public offering of shares the following day.
    2. On January 23, 1997, applicant's board of trustees approved a 
plan of liquidation and dissolution (``Liquidation Plan''). The 
Liquidation Plan provided for the liquidation of applicant and the 
distribution of applicant's remaining assets to its securityholders. In 
approving the Liquidation Plan, the trustees considered a number of 
factors, including applicant's shrinking asset base and the 
inefficiencies, higher costs and disadvantageous economies of scale 
attendant with decreased assets. Based on consideration of all the 
factors deemed relevant by it, the board of trustees determined that 
the adoption of the Liquidation Plan would be in the best interests of 
applicant and its securityhoulders.
    3. On or about February 21, 1997, proxy materials soliciting 
approval of the liquidation were sent to applicant's securityholders. 
Pursuant to applicant's Declaration of Trust, as amended, applicant's 
securityholders approved the Liquidation Plan at a special meeting held 
on May 1, 1997.
    4. As of May 9, 1997, applicant had total net assets of 
$12,694,788.40, comprising 1,449,722.565 shares, with a per share net 
asset value of $8.756702. On May 12, 1997, applicant's securityholders 
were paid a final liquidation distribution of $8.756702 per share equal 
to the securityholders' proportionate interest in the remaining assets 
of applicant.
    5. Approximately $16,000 of expenses, including the costs of 
printing and mailing the proxy statement and any additional material 
relating to the shareholder meeting at which the liquidation of 
applicant was approved and any expenses relating to deregistering 
applicant as an investment company and dissolving applicant, were borne 
by the applicant. Any additional costs relating to soliciting proxies 
were paid by Dean Witter InterCapital Inc., applicant's investment 
adviser.
    6. As of the date of the application, applicant had no 
securityholders, debts, liabilities, or assets and was not a party to 
any litigation or administrative proceeding. Applicant is not engaged, 
nor dose it propose to engage, in any business activities other than 
those necessary for the winding-up of its affairs.
    7. Applicant intends to file Articles of Dissolution with the 
Secretary of State of The Commonwealth of Massachusetts.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-18609 Filed 7-15-97; 8:45 am]
BILLING CODE 8010-01-M