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<PAGE> PAGE 2
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SIGNATURE CHARLES MATHER
TITLE PRESIDENT
<PAGE>
THE FINANCE COMPANY OF PENNSYLVANIA
226 WALNUT STREET
PHILADELPHIA, PENNSYLVANIA 19106
TELEPHONE: 215-351-4778
------------------------------------
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON APRIL 16, 1996
------------------------------------
NOTICE IS HEREBY GIVEN that the Annual Meeting of Stockholders of The
Finance Company of Pennsylvania, a Pennsylvania corporation, will be held in the
Independence Room of The Downtown Club, Public Ledger Building, 11th Floor, S.W.
Corner 6th and Chestnut Streets, Philadelphia, Pennsylvania 19106, on Tuesday,
April 16, 1996 at 11:00 A.M., Local Time, for the following purposes:
1. To elect two directors to hold office for a term of three years and
until their successors are duly elected and qualified.
2. To vote upon ratification of the selection of Deloitte & Touche as
auditors of the Company for the period April 16, 1996 to April 14, 1997.
3. To transact such other business as may properly come before the Meeting
or any adjournment thereof; all as set forth in the Proxy Statement
accompanying this Notice.
The stock transfer books of the Company will not be closed but, in lieu
thereof, the Board of Directors has fixed the close of business on March 23,
1996, as the record date for the determination of stockholders who will be
entitled to notice of, and to vote at, the Meeting.
By order of the Board of Directors,
DORANNE H. CASE
Assistant Secretary/Treasurer
Dated: March 27, 1996
------------------------------------
If you do not expect to be present at the Meeting but wish your stock to be
voted, please date, fill in and sign the enclosed form of Proxy and mail it in
the enclosed stamped envelope. It is important that Proxies be returned
promptly.
<PAGE>
<PAGE>
This report is signed on behalf of the registrant (or depositor or trustee)
in the City of Philadelphia and State of Pennsylvania on
___________ day of ___________ 1997.
__________________________________________
(Name of registrant, depositor or trustee)
Witness___________________ By:_______________________________________
(Name and Title) (Name and title of person signing
on behalf of registrant, depositor
or trustee)
Doranne H. Case Charles E. Mather, III
Assistant Secretary/Treasurer President
<PAGE>
<PAGE>
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
The Finance Company of Pennsylvania:
In planning and performing our audit of the financial statements of The Finance
Company of Pennsylvania, (the "Company") for the year ended December 31, 1996,
we considered its internal control structure, including 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 the Company 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 the
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 for 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
January 24, 1997
<PAGE>
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