1838 BOND DEBENTURE TRADING FUND, DEFR14A, 1998-07-10

1838 BOND DEBENTURE TRADING FUND
DEFR14A, 1998-07-10

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                        1838 BOND-DEBENTURE TRADING FUND

                        REVISED NOTICE OF ANNUAL MEETING


                                                            Radnor, Pennsylvania
                                                                    July 8, 1998


To the Shareholders of
  1838 Bond-Debenture Trading Fund:

     The Annual Meeting of Shareholders of 1838 Bond-Debenture Trading Fund (the
"Fund") will be held on July 30, 1998  (rather than July 22, 1998,  as stated in
the Proxy Statement that  accompanies  this revised notice) at 2:00 p.m. Eastern
Time, at the Fund's executive offices,  Five Radnor Corporate Center, Suite 320,
100 Matsonford Road, Radnor, Pennsylvania 19087.


                                                  ANNA M. BENCROWSKY
                                                       Secretary