UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-54C
NOTIFICATION OF WITHDRAWAL OF ELECTION
TO BE SUBJECT TO SECTIONS 55 THROUGH 65 OF
THE INVESTMENT COMPANY ACT OF 1940
FILED PURSUANT TO SECTION 54(c)
OF THE INVESTMENT COMPANY ACT OF 1940
The undersigned business development company hereby notifies
the Securities and Exchange Commission that it withdraws its election to be
subject to sections 55 through 65 of the Investment Company Act of 1940 (the
"Act"), pursuant to the provisions of section 54(c) of the Act, and in
connection with such notice of withdrawal of election submits the following
information:
WALNUT FUNDS, INC.
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(Name)
8000 Towers Crescent Drive, Suite 1070
Vienna, Virginia 22182
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Address of Principal Business Office
(No. & Street, City, State, Zip Code)
(703) 448-3771
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(Telephone Number, including area code)
0-23205; 814-00155
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(File number under the Securities Exchange Act of 1934)
Basis for filing the notification of withdrawal:
On November 1, 1999, Walnut Funds, Inc. merged into THCG, LLC,
a subsidiary of Tower Hill Securities, Inc. THCG, LLC is excluded from the
definition of an investment company by section 3(c)(1) of the Act.
SIGNATURE
Pursuant to the requirements of the Act, the undersigned
company has caused this notification of withdrawal of election to be subject to
sections 55 through 65 of the Act to be duly signed on its behalf in the city of
Vienna and State of Virginia on the 1st day of November, 1999.
WALNUT FUNDS, INC.
By: /s/ Joel S. Kanter
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Name: Joel S. Kanter
Title: President
Attest:
/s/ Karyn Doerfler
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Name: Karyn Doerfler
Title: Attorney
