BULL & BEAR GOLD INVESTORS LTD.
11 HANOVER SQUARE
NEW YORK, NEW YORK 10005
August 28, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Bull & Bear Gold Investors Ltd.
Rule 24f-2 Notice
File No. 2-14486 under the Securities Act of 1933
Gentlemen:
1. This notice is filed for the fiscal year ended June 30, 1995.
2. The number of shares of capital stock registered under the Securities
Act of 1933 other than under Rule 24f-2 which remained unsold at the
beginning of said period was 293,260.
3. The number of shares registered during the period, other than pursuant
to said Rule 24f-2, was none.
4. The number of shares of capital stock sold during said period was
36,345,648.
5. The number of shares of capital stock sold during said fiscal year in
reliance on Rule 24f-2 was 36,345,648.
Sincerely,
BULL & BEAR GOLD INVESTORS LTD.
/s/ William K. Dean
William K. Dean
Chief Accounting Officer
Note: Aggregate sales price for which shares of
Bull & Bear Gold Investors Ltd. were sold.................$526,406,106
Less cost of shares repurchased...........................(534,242,921)
Total.....................................................$ (7,836,815)
Registration fee at 1/29th of 1% .........................$ -0-
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ARTHUR J. BROWN
(202) 778-9046
[email protected]
August 22, 1995
Bull & Bear Gold Investors Ltd.
11 Hanover Square
New York, New York 10005
Dear Sir or Madam:
Bull & Bear Gold Investors Ltd. ("Company") is a corporation duly
incorporated and existing under the laws of the State of Maryland. We understand
that the Company is about to file a Rule 24f-2 Notice pursuant to Rule 24f-2
under the Investment Company Act of 1940, as amended ("1940 Act") for the
purpose of making definite the number of shares of capital stock which it has
registered thereunder and under the Securities Act of 1933, as amended ("1933
Act") and which it sold in reliance on Rule 24f-2 during its fiscal year ended
June 30, 1995.
We have, as counsel, examined copies either certified or otherwise
proved to be genuine, of the Company's Articles of Incorporation and By-Laws, as
now in effect and other documents relating to its organization and operation.
Based upon the foregoing, it is our opinion that the shares of capital stock of
the Company sold in reliance upon registration under Rule 24f-2 during the
Company's fiscal year ended June 30, 1995, the registration of which will be
made definite by the filing of a Rule 24f-2 Notice, were legally issued, fully
paid and non-assessable. We express no opinion as to compliance with the 1933
Act, the 1940 Act or applicable state securities laws in connection with the
sales of shares of capital stock.
We hereby consent to this opinion accompanying the Rule 24f-2 Notice
which you are about to file with the Securities and Exchange Commission.
Sincerely,
KIRKPATRICK & LOCKHART LLP
By: /s/ Arthur J. Brown
Arthur J. Brown
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