Notice of Applications for Deregistriation Under Section 8(f) of the Investment Company Act of 1940

Zusammenfassung

Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. Applicant has remaining assets of approximately $492,277, consisting primarily of liquid securities. Applicant will appoint a liquidating agent, who will liquidate the assets over a period of approximately three years and distribute the proceeds pro rata to applicant's shareholders. Distributions will be made to shareholders after payment of approximately $172,596 of outstanding debts and liquidation expenses. A special meeting of shareholders is scheduled for September 7, 2001 to approve applicant's liquidation. Applicant currently is not a party to any litigation or administration proceeding. Lawrence P. Grady, applicant's president and largest shareholder, is a party to an SEC enforcement action arising out of the SEC's examination of applicant. The application is submitted in connection with that proceeding. Filing Dates: The application was filed on August 3, 2001. Applicant has agreed to file an amended application during the notice period, the substance of which is reflected in this notice. Applicant's Address: 520 Diamond Lake Lane, Minneapolis, MN 55419.