ELECTRONIC SUBMISSION HEADER
CIK 0000018922
PASSWORD $0FY4F
FORM TYPE NSAR-A
DOCUMENTS 1
PERIOD 12/31/96
FILER CENTURY SHARES TRUST
FILE NUMBER 811-19
CONTACT ROBIN M. SCIBILIA
TELEPHONE 6174823060
NOTIFY
ERRORS NOT FOUND
PAGE 0
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SIGNATURE &&PIN
NAME RICHARD F. COOK, JR.
TITLE SECRETARY
EOFEOFEOF
<PAGE>
EXHIBIT 1
For Period Ending: 12/31/96
File Number 811-19
This report is signed on behalf of the registrant (or depositor or trustee) in
the City of Boston and State of Massachusetts on the 28th day of February, 1997.
CENTURY SHARES TRUST
(Name of registrant, depositor
or trustee)
BY: /s/ ALLAN W. FULKERSON
Allan W. Fulkerson,
Chairman and Managing Trustee
Witness: /s/ RICHARD F. COOK, JR.
Richard F. Cook, Jr.
Secretary
<PAGE>
EXHIBIT 2
Item 77.B.
Deloitte & Touche LLP
125 Summer Street
Boston, Massachusetts 02110-1617
Telephone: (617)261-8000
Facsimile: (617)261-8111
INDEPENDENT AUDITORS' REPORT
To the Trustees and Shareholders of Century Shares Trust:
In planning and performing our audit of the financial statements of Century
Shares Trust for the year ended December 31, 1996 (on which we have issued our
report dated January 17, 1997), we considered its internal control structure,
including procedures for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of Century Shares Trust is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
January 17, 1997
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