WAYNE HUMMER MONEY FUND TRUST
PHOTO OF: DAVID P. POITRAS
Semi-Annual
Financial Statements
September 30, 1997
(Unaudited)
Dear Fellow Shareholder:
We are pleased to present the semi-annual financial statements of the Wayne
Hummer Money Fund Trust (the "Fund") for the period ended September 30, 1997.
Net assets under management at the end of this period totaled $264,538,636, an
increase of 11% in six months. Since its inception, the Fund has continued to
meet its objectives of liquidity and stability, which are the most important
considerations of short-term investing.
The seven day average yield on the Fund's portfolio for the period ended
September 30, 1997, was 4.95%; if dividends were reinvested the effective yield
was 5.06%. Since these figures represent historical data, future yields may be
higher or lower.
Due to slow economic growth, we expect interest rates to rise slightly towards
the end of the calendar year. We recently shortened the average maturity of the
portfolio to take advantage of these increases.
Since the Fund's objective is preservation of capital and maintenance of
liquidity, we do not purchase investments that we perceive to be risky or
potentially volatile. The Fund invests in high-quality, short-term securities;
takes no currency risks; does not enter in speculative derivative transactions
and uses only money market indexed floating or variable rate securities. We also
pay close attention to the maturity structure, credit quality, diversification,
and market price exposure of the Fund's portfolio.
As you know, the Fund provides a vehicle for earning a yield on investments
which reflects changes in current rates. Additionally, the Fund offers
convenient services such as automatic monthly purchases and check writing
privileges. You can make investing easy by having money deducted directly from
your checking account, savings or payroll check. Your Wayne Hummer Investment
Executive will personally handle your transactions and answer any questions.
We appreciate your continued support of the Fund and ask that you call or write
us if you have any questions about the Fund or your account.
Sincerely,
David P. Poitras
President
Wayne Hummer Money Fund Trust
An investment in the Fund is not a deposit or obligation of or guaranteed or
insured by the U.S. Government, any bank, the Federal Deposit Insurance
Corporation, or any other agency. There can be no assurance that the Fund will
be able to maintain a stable net asset value of $1.00 per share.
<PAGE>
FUND OVERVIEW
Established in 1982, the primary objective of the Wayne Hummer Money Fund Trust
(the "Fund") is to maximize current income while preserving capital and
maintaining liquidity. The Fund is an excellent vehicle for short-term cash
management and for investors who need stability of principal. The Fund seeks to
maintain a stable $1.00 net asset value per share at all times, although there
is no guarantee that we will be able to do so.
The Fund's prospectus contains detailed information about permissible
investments.
SERVICES AVAILABLE TO SHAREHOLDERS
IRA or Retirement Plans
Shares of the Wayne Hummer Money Fund Trust are a suitable addition to your IRA
or pension plan. Contact your Wayne Hummer Investment Executive for complete
details on the expanded options available for retirement planning as a result of
the Taxpayer Relief Act of 1997, including the new Roth IRA.
Systematic Investment Plan
What better way to start early and save regularly than with a Systematic
Investment Plan. You may have subsequent purchases invested automatically
monthly. Your bank can send money from your bank account to the Fund. Request an
application with full details from your Investment Executive or call the Fund
directly.
Payroll Direct Deposit Plan
You may authorize you employer to deduct a specified amount from your payroll
check to purchase additional shares of the Fund. Complete details are available
from the Fund or your Wayne Hummer Investment Executive.
New Feature!
Social Security Direct Deposit Plan
Instead of receiving a monthly check or sending it to your bank, use the Wayne
Hummer Money Fund Trust for direct deposits. You can easily access the money you
need, while the rest continues to earn dividends. Contact your Wayne Hummer
Investment Executive for complete details.
New Feature!
Internet Address: www.whummer.com
Those who enjoy using the computer to access information will find the
prospectus and current rates for the Fund, along with information on the other
Wayne Hummer Funds, on our website. Other services available through Wayne
Hummer Investments LLC are also on-line.
Checkwriting Privileges
After completing a request for checkwriting privileges, you may write checks in
any amount from $500 to $250,000. Your full investment in the Trust will
continue to earn dividends until your check is presented to our bank for
collection. A checkwriting authorization card will be sent to you upon request.
<PAGE>
<TABLE>
STATEMENT OF ASSETS AND LIABILITIES
<CAPTION>
SEPTEMBER 30,
1997 MARCH 31,
(UNAUDITED) 1997
<S> <C> <C>
ASSETS
Investments, at amortized
cost................... $265,375,710 $238,180,881
Cash................. 8,360 32,669
Interest receivable. 610,181 374,987
Prepaid expenses..... 19,381 34,326
Insurance deposit.... 18,775 18,775
------------ ------------
Total assets....... 266,032,407 238,641,638
LIABILITIES AND NET ASSETS
Investment purchase payable 1,000,000 - 0 -
Dividends payable....... 320,787 244,339
Due to Wayne Hummer
Management Company... 108,028 101,605
Accounts payable........ 64,956 57,818
------------ ------------
Total liabilities.. 1,493,771 403,762
------------ ------------
Net assets applicable to
Shares outstanding,
equivalent to $1.00
per Share............ $264,538,636 $238,237,876
============ ============
</TABLE>
<TABLE>
STATEMENT OF OPERATIONS
<CAPTION>
SIX MONTHS
ENDED
SEPTEMBER 30, YEAR ENDED
1997 MARCH 31,
(UNAUDITED) 1997
<S> <C> <C>
Interest income......... $7,051,982 $11,926,831
Expenses:
Management fee........ 623,892 1,097,662
Transfer agent fees... 74,900 144,100
Shareholder service
agent fees.......... 67,500 127,739
Registration costs.... 35,772 50,232
Custodian fees........ 27,600 48,700
Professional fees..... 24,540 39,000
Printing costs........ 20,997 37,183
Portfolio accounting
fees................ 12,421 21,852
Trustee fees.......... 12,000 24,519
Insurance costs....... 11,400 14,920
Other................. 3,000 11,682
---------- -----------
Total expenses...... 914,022 1,617,589
---------- -----------
Net increase in net
assets resulting
from operations....... $6,137,960 $10,309,242
========== ===========
</TABLE>
<TABLE>
STATEMENT OF CHANGES IN NET ASSETS
<CAPTION>
SIX MONTHS ENDED
SEPTEMBER 30, YEAR ENDED
1997 MARCH 31,
(UNAUDITED) 1997
<S> <C> <C>
Operations:
Net investment income ......................................... $ 6,137,960 $ 10,309,242
Dividends to Shareholders from net investment income ............ (6,137,960) (10,309,242)
Capital Share transactions (dollar amounts and number
of Shares are the same):
Proceeds from Shares sold ..................................... 339,282,406 552,545,079
Shares issued upon reinvestment of dividends .................. 5,866,137 9,906,164
------------- -------------
345,148,543 562,451,243
Less payments for Shares redeemed ............................. (318,847,783) (550,486,447)
------------- -------------
Increase due to Capital Share transactions .................... 26,300,760 11,964,796
Net assets at beginning of the period ........................... 238,237,876 226,273,080
------------- -------------
Net assets at end of the period ................................. $ 264,538,636 $ 238,237,876
============= =============
</TABLE>
<TABLE>
FINANCIAL HIGHLIGHTS
(For a Share outstanding throughout each period)
<CAPTION>
SIX MONTHS ENDED
SEPTEMBER 30, 1997 YEAR ENDED MARCH 31,
(UNAUDITED) 1997 1996 1995 1994
<S> <C> <C> <C> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD..... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
Income from investment operations:
Net investment income.................. 0.02 0.04 0.05 0.04 0.02
Less dividends from investment income (0.02) (0.04) (0.05) (0.04) (0.02)
------ ------ ------ ------ ------
NET ASSET VALUE, END OF PERIOD........... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
====== ====== ====== ====== ======
TOTAL RETURN............................. 2.49% 4.80% 5.18% 4.24%(b) 2.47%
RATIOS AND SUPPLEMENTARY DATA
Net assets, end of period ($000's)..... 264,538 238,238 226,273 155,248 153,529
Ratio of total expenses to average
net assets........................... 0.74%(a) 0.74% 0.79% 0.80% 0.80%
Ratio of net investment income to
average net assets................... 4.93%(a) 4.70% 5.04% 4.16% 2.44%
<FN>
(a) Determined on an annualized basis.
(b) The total return includes the effect of the capital contribution of $0.0011
per Share from Wayne Hummer Investments LLC. The return without the capital
contribution would have been 4.12%.
</FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
PORTFOLIO OF INVESTMENTS
September 30, 1997
<CAPTION>
PRINCIPAL RATE MATURITY DATE
AMOUNT COMMERCIAL PAPER (74.75%) % (1997) VALUE
BANKING (8.40%)
<S> <C> <C> <C> <C>
$ 2,350,000 Morgan (J.P.) & Co., Inc.......................... 5.578 10/14 $ 2,345,341
3,000,000 SunTrust Banks, Inc................................ 5.589 10/15 2,993,583
2,000,000 Morgan (J.P.) & Co., Inc.......................... 5.578 11/19 1,985,137
2,680,000 Northern Trust Corp................................ 5.667 11/26 2,656,904
3,400,000 First Chicago Financial Corp....................... 5.640 12/01 3,368,256
4,000,000 First Chicago Financial Corp....................... 5.713 01/05/98 3,940,800
2,000,000 First Chicago Financial Corp....................... 5.693 01/06/98 1,970,199
3,000,000 First Chicago Financial Corp....................... 5.699 01/13/98 2,952,073
----------
22,212,293
BROKERAGE (4.59%)
2,174,000 Merrill Lynch & Co., Inc........................... 5.664 10/07 2,171,978
2,000,000 Merrill Lynch & Co., Inc........................... 5.503 10/09 1,997,591
5,000,000 Merrill Lynch & Co., Inc........................... 5.609 10/14 4,990,033
3,000,000 Merrill Lynch & Co., Inc........................... 5.637 11/04 2,984,332
----------
12,143,934
BUSINESS FINANCE (17.38%)
1,000,000 Pitney Bowes Credit Corp........................... 5.710 10/02 999,844
4,000,000 GE Credit Cap. Services of Puerto Rico, Inc........ 5.578 10/14 3,992,070
1,450,000 Ford Motor Credit Co............................... 5.658 10/20 1,445,743
7,450,000 Private Export Funding Corp........................ 5.584 10/27 7,420,470
5,400,000 National Rural Utilities Cooperative Finance Corp.. 5.580 10/28 5,377,806
4,760,000 Private Export Funding Corp........................ 5.601 10/29 4,739,638
1,240,000 General Electric Capital Corp...................... 5.749 11/03 1,233,589
2,020,000 GE Credit Cap. Services of Puerto Rico, Inc........ 5.638 11/05 2,009,140
3,060,000 General Electric Capital Corp...................... 5.618 11/17 3,038,028
2,000,000 Pitney Bowes Credit Corp........................... 5.711 12/11 1,978,029
7,000,000 Pitney Bowes Credit Corp........................... 5.697 01/05/98 6,896,680
1,453,000 General Electric Capital Corp...................... 5.715 01/08/98 1,430,823
1,900,000 National Rural Utilities Cooperative Finance Corp.. 5.685 01/09/98 1,870,867
2,000,000 Pitney Bowes Credit Corp........................... 5.685 01/09/98 1,969,333
1,600,000 National Rural Utilities Cooperative Finance Corp.. 5.719 02/17/98 1,565,899
----------
45,967,959
GAS AND ELECTRIC UTILITIES (5.30%)
1,750,000 Wisconsin Power & Light Co......................... 5.582 10/06 1,748,663
2,300,000 Duke Energy Corporation............................ 5.588 10/14 2,295,432
2,850,000 Wisconsin Power & Light Co......................... 5.589 10/15 2,843,904
5,000,000 Wisconsin Power & Light Co......................... 5.597 10/24 4,982,431
2,200,000 Louisville Gas & Electric Co....................... 5.745 01/29/98 2,159,227
----------
14,029,657
INSURANCE (7.59%)
3,000,000 Providian Corp..................................... 5.566 10/24 2,989,516
9,825,000 Hartford Steam Boiler Inspection & Insurance Co.... 5.631 10/28 9,784,251
3,400,000 Providian Corp..................................... 5.600 10/28 3,385,975
2,000,000 Marsh & McLennan Companies......................... 6.016 01/16/98 1,965,344
2,000,000 Marsh & McLennan Companies......................... 5.924 02/20/98 1,954,954
----------
20,080,040
OIL AND GAS (3.76%)
5,000,000 Chevron Transport Corp............................. 5.590 10/16 4,988,542
5,000,000 Chevron Transport Corp............................. 5.642 11/21 4,960,900
----------
9,949,442
<PAGE>
<CAPTION>
PRINCIPAL RATE MATURITY DATE
AMOUNT PERSONAL FINANCE (11.57%) % (1997) VALUE
<S> <C> <C> <C> <C>
$6,000,000 Norwest Financial Inc.............................. 5.675 10/08 $ 5,993,479
875,000 Beneficial Corp.................................... 5.588 10/14 873,262
4,000,000 Commerical Credit Co............................... 5.581 10/17 3,990,240
2,470,000 Beneficial Corp.................................... 5.594 10/21 2,462,453
3,130,000 Commerical Credit Co............................... 5.612 10/30 3,116,107
1,300,000 Commerical Credit Co............................... 5.606 11/03 1,293,446
4,288,000 Norwest Financial Inc.............................. 5.615 11/14 4,259,175
3,000,000 Commerical Credit Co............................... 5.635 11/25 2,974,746
1,355,000 Associates Corp. of North America.................. 5.638 12/11 1,340,302
3,110,000 Associates Corp. of North America.................. 5.645 12/19 3,072,464
1,248,000 Associates Corp. of North America.................. 5.698 01/12/98 1,228,254
----------
30,603,928
TELECOMMUNICATIONS (10.53%)
2,615,000 Ameritech Corp..................................... 5.660 10/03 2,614,189
3,000,000 BellSouth Telecommunications Inc................... 5.603 10/07 2,997,240
4,000,000 Ameritech Capital Funding Corp..................... 5.574 10/09 3,995,120
2,000,000 Ameritech Corp..................................... 5.563 10/20 1,994,226
2,500,000 BellSouth Telecommunications Inc................... 5.597 10/24 2,491,215
3,900,000 BellSouth Telecommunications Inc................... 5.582 10/30 3,882,784
1,975,000 SBC Communications Inc............................. 5.608 11/18 1,960,543
8,000,000 SBC Communications Inc............................. 5.627 12/10 7,914,561
----------
27,849,878
MISCELLANEOUS (5.63%)
1,650,000 Snap-On Inc........................................ 5.572 10/07 1,648,490
1,400,000 Illinois Tool Works Inc............................ 5.588 10/14 1,397,219
10,000,000 Penney (J.C.) Funding Corp......................... 5.632 12/04 9,902,222
1,000,000 Schering Corp...................................... 5.647 01/14/98 984,017
1,000,000 Anheuser-Busch Companies Inc....................... 5.882 02/10/98 979,174
----------
14,911,122
----------
TOTAL COMMERCIAL PAPER............................. 197,748,253
----------
BANKERS ACCEPTANCE (9.40%)
4,000,000 SunTrust Bank, Atlanta, GA......................... 5.578 10/02 3,999,389
3,000,000 NationsBank of Texas N.A., Dallas, TX.............. 5.721 10/03 2,999,060
1,009,858 SunTrust Bank, Atlanta, GA......................... 5.582 10/06 1,009,087
2,400,000 Northern Trust Co., Chicago, IL ................... 5.605 10/22 2,392,286
5,600,000 Key Bank N.A....................................... 5.579 10/27 5,577,836
2,000,000 LaSalle National Bank, Chicago, IL................. 5.767 11/12 1,986,817
2,520,000 Northern Trust Co., Chicago, IL ................... 5.606 12/09 2,493,580
2,000,000 Northern Trust Co., Chicago, IL ................... 5.753 12/23 1,974,178
2,500,000 Key Bank N.A....................................... 5.727 02/25/98 2,443,650
----------
TOTAL BANKERS ACCEPTANCES.......................... 24,875,883
----------
US GOVERNMENT & AGENCIES (5.69%)
MORTGAGE-BACKED SECURITIES
1,782,906 Federal Home Loan Mortgage Corp.................... 5.970 12/15 1,781,979
511,200 Federal Home Loan Mortgage Corp.................... 5.715 01/01/98 510,458
1,426,011 Federal Home Loan Mortgage Corp.................... 5.850 04/01/98 1,422,128
991,628 Federal Home Loan Mortgage Corp.................... 6.017 05/01/98 990,364
766,955 Federal Home Loan Mortgage Corp.................... 5.800 07/01/98 764,229
609,293 Federal Home Loan Mortgage Corp.................... 5.828 08/01/98 604,931
----------
6,074,089
<CAPTION>
<PAGE>
PRINCIPAL RATE MATURITY DATE
AMOUNT US GOVERNMENT & AGENCIES (CONTINUED) % (1997) VALUE
<S> <C> <C> <C> <C>
OTHER
$1,670,000 Federal Home Loan Banks............................ 5.447 11/10 $ 1,660,091
500,000 Federal Home Loan Banks............................ 5.630 11/24 499,938
3,000,000 Federal Home Loan Banks............................ 5.947 12/26 2,996,517
2,000,000 Federal Home Loan Banks............................ 5.780 01/28/98 2,000,000
64,000 United States Treasury Bill ....................... 5.498 02/05/98 62,799
500,000 Tennessee Valley Authority......................... 5.920 03/04/98 498,358
250,000 Federal Home Loan Banks............................ 5.745 05/26/98 249,199
1,000,000 Federal Home Loan Banks............................ 5.893 10/02/98 1,000,000
----------
8,966,902
----------
TOTAL GOVERNMENT AGENCIES.......................... 15,040,991
----------
CORPORATE AND BANK NOTES (7.62%)
BANKING (5.43%)
2,550,000 LaSalle National Bank, Chicago, IL ................ 5.700 10/01 2,550,000
2,000,000 LaSalle National Bank, Chicago, IL ................ 5.660 10/06 2,000,000
1,250,000 LaSalle National Bank, Chicago, IL ................ 5.840 10/10 1,250,000
1,000,000 Key Bank of Wash., Tacoma, Wash. (a)............... 5.556 10/10 999,903
1,525,000 LaSalle National Bank, Chicago, IL ................ 5.670 01/05/98 1,525,000
4,000,000 SunTrust Banks, Inc................................ 6.136 02/01/98 4,035,003
1,000,000 NationsBank N.A., Charlotte, NC.................... 5.700 02/02/98 999,377
1,000,000 LaSalle National Bank, Chicago, IL ................ 6.000 03/19/98 1,000,000
----------
14,359,283
MISCELLANEOUS (2.19%)
2,150,000 Associates Corp. of North America.................. 5.992 01/15/98 2,163,979
1,000,000 National Rural Utilities Cooperative Finance Corp. 6.008 02/15/98 1,008,905
1,000,000 Associates Corp. of North America.................. 5.838 05/15/98 1,008,390
1,600,000 DuPont (E.I.) de Nemours & Co...................... 5.910 06/25/98 1,627,886
----------
5,809,160
----------
TOTAL CORPORATE AND BANK NOTES..................... 20,168,443
----------
CERTIFICATES OF DEPOSIT (2.85%)
2,541,000 Bank of New York................................... 5.375 10/10 2,540,591
5,000,000 Mellon Bank NA - Pittsburgh (a)................... 5.659 12/16 5,001,549
----------
TOTAL CERTIFICATES OF DEPOSIT...................... 7,542,140
----------
TOTAL INVESTMENTS (100.31%)........................ 265,375,710
CASH AND OTHER ASSETS, LESS LIABILITIES (0.31%).... (837,074)
----------
NET ASSETS (100.0%)................................ $264,538,636
============
<FN>
Notes to Portfolio of Investments:
(a) Short-term floating rate security. Rate shown is the effective interest
rate at September 30, 1997. The date shown represents the next interest rate
change date.
(b) Interest rates represent annualized yield to date of maturity.
(c) For each security, cost (for financial reporting and federal income tax
purposes) and carrying value are the same.
</FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>
NOTES TO FINANCIAL STATEMENTS
ORGANIZATION:
Wayne Hummer Money Fund Trust (the "Fund") is an open-end management
investment company organized as a Massachusetts business trust. It commenced
investment operations on April 2, 1982. The Fund may issue an unlimited
number of full and fractional units of beneficial interest ("Shares") without
par value in one or more series ("Portfolios"). At September 30, 1997, Shares
of only one series were outstanding. The investment objective of the Fund is
to maximize current income to the extent consistent with preservation of
capital and maintenance of liquidity.
1. SIGNIFICANT ACCOUNTING POLICIES
SECURITY VALUATION
Investments are stated at value. The Fund utilizes the amortized cost method
to determine value. In the event that a deviation of 1/2 of 1% or more exists
between a Portfolio's $1.00 per Share net asset value and the net asset value
as calculated by valuing the Portfolio securities based upon market
quotations, if available, or otherwise based upon a matrix system approved by
the Board of Trustees, or if there is any other deviation which the Fund
believes would result in a material dilution to Shareholders or purchasers,
the Board of Trustees of the Fund promptly will consider what action should
be taken.
SECURITY TRANSACTIONS AND INVESTMENT INCOME
Security transactions are accounted for on the trade date. Investment income
is recorded on the accrual basis and includes amortization of premium and
discount on investments.
2. FUND SHARE VALUATION AND DIVIDENDS TO SHAREHOLDERS
Fund Shares are sold and redeemed on a continuous basis at net asset value.
Net asset value per Share is determined on each day the New York Stock
Exchange is open for trading as of the close of trading on the Exchange and
at 3:00 p.m. Chicago time on each other day during which there is a
sufficient degree of trading in securities of the Fund's Portfolio so as to
affect materially the net asset value of the Shares by dividing the value of
net assets (total assets less liabilities) by the total number of Shares
outstanding. Dividends are declared daily and distributed monthly in the form
of additional Shares at net asset value unless the Shareholder elects to have
dividends paid in cash, in which case they are credited monthly to the
Shareholder's brokerage account with Wayne Hummer Investments LLC.
3. FEDERAL INCOME TAXES
It is the Fund's policy to comply with the special provisions of the Internal
Revenue Code available to investment companies and, in the manner provided
therein, to distribute all of its taxable income, as well as any net realized
gain on sales of investments. Such provisions were complied with and
therefore no federal income tax provision is required.
4. TRANSACTIONS WITH AFFILIATES
The Fund has an Investment Advisory and Management Agreement and a Portfolio
Accounting Services Agreement with Wayne Hummer Management Company
("Investment Adviser"), and a Distribution Agreement and a Shareholder
Service Agreement with Wayne Hummer Investments LLC ("Distributor and
Shareholder Service Agent"). The shareholders of the Investment Adviser are
the Voting Members of the Distributor and Shareholder Service Agent. For
advisory and management services and facilities furnished, the Fund pays fees
on a declining annual basis ranging from .50 of 1% on the first $500 million
of average daily net assets to .275 of 1% of average daily net assets in
excess of $2.5 billion. The Investment Adviser is obligated to reimburse the
Fund to the extent that the Fund's ordinary operating expenses, including the
fee of the Investment Adviser, exceed 1% of average daily net assets on an
annual basis. During the period ended September 30, 1997, and the year ended
March 31, 1997, the Fund incurred management fees of $623,892 and $1,097,662,
respectively.
For portfolio accounting services, the Fund pays the Investment Adviser a
fee based on the level of average daily net assets plus out-of-pocket expenses.
The Fund reimburses the Shareholder Service Agent for the approximate cost of
processing Fund Share transactions and maintaining Shareholder accounts.
Certain trustees of the Fund are also officers or directors of the
Investment Adviser or Voting Members of the Distributor and Shareholder Service
Agent. During the period ended September 30, 1997, and the year ended March 31,
1997, the Fund made no direct payments to its officers and incurred trustee fees
for its unaffiliated trustees of $12,000 and $24,519, respectively.
<PAGE>
BOARD OF TRUSTEES
Philip M. Burno
Chairman
Steven R. Becker
Charles V. Doherty
Joel D. Gingiss
Patrick B. Long
Eustace K. Shaw
This brochure must be preceded or accompanied by a current prospectus of the
Wayne Hummer Money Fund Trust.
LOGO: Wayne Hummer Investments LLC
300 South Wacker
Chicago, Illinois
60606-6607
1.800.621.4477 (toll-free)
(312) 431.1700 (local)
200 E. Washington Street
Appleton, Wisconsin
54911-5468
1.800.678.0833 (toll-free)
(920) 734.1474 (local)
www.whummer.com
<PAGE>
WAYNE HUMMER MONEY FUND TRUST
Semi-Annual
Financial
Statements
September 30, 1997
(Unaudited)
WAYNE HUMMER
MONEY FUND TRUST
300 South Wacker Drive
Chicago, IL 60606-6607
First Class
U.S. Postage
PAID
Berwyn, IL
Permit No. 150
