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SIGNATURE HENRY G. VAN DER EB, JR.
TITLE CHAIRMAN
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 139,297,831
<INVESTMENTS-AT-VALUE> 147,947,013
<RECEIVABLES> 1,146,403
<ASSETS-OTHER> 863
<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 426,250
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<OTHER-ITEMS-LIABILITIES> 728,451
<TOTAL-LIABILITIES> 1,154,701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 164,005,253
<SHARES-COMMON-STOCK> 11,167,273
<SHARES-COMMON-PRIOR> 12,929,841
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,632,651
<NET-ASSETS> 147,939,578
<DIVIDEND-INCOME> 88,112
<INTEREST-INCOME> 3,673,288
<OTHER-INCOME> 0
<EXPENSES-NET> 903,168
<NET-INVESTMENT-INCOME> 2,858,232
<REALIZED-GAINS-CURRENT> (2,817,863)
<APPREC-INCREASE-CURRENT> 8,803
<NET-CHANGE-FROM-OPS> 49,172
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 87,250
<NUMBER-OF-SHARES-REDEEMED> 1,849,818
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (23,656,086)
<ACCUMULATED-NII-PRIOR> 242,940
<ACCUMULATED-GAINS-PRIOR> (37,142,298)
<OVERDISTRIB-NII-PRIOR> 0
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</TABLE>
ITEM 77Q
At a meeting of the Board of Directors of Mathers Fund, Inc.
held on April 14, 1997, the following resolutions were
unanimously adopted:
RESOLVED, that Article III, Sections 6 and 8, of
the Amended and Restated By-laws of the Corporation be,
and they hereby are, amended to read in their entirety
as follows:
Section 6. Vice Presidents. The vice
president, or, if there be more than one, the
vice presidents in the order determined by
the board of directors, shall, in the absence
or disability of the president, perform the
duties and exercise the powers of the
president, and shall have such other duties
and powers as the board may from time to time
prescribe or the president delegate. One
vice president shall be designated as the
principal financial and accounting officer of
the corporation. He shall be responsible for
the custody and supervision of the
corporation's books of account and subsidiary
accounting records.
Section 8. Treasurer and Assistant
Treasurers. The Treasurer shall have such
duties and powers as are incident to his
office or as the board of directors may from
time to time prescribe. The assistant
treasurer, if any, or if there be more than
one, the assistant treasurers in the order
determined by the board of directors, shall
in the absence or disability of the
treasurer, perform the duties and exercise
the powers of the treasurer, and shall have
such other duties and powers as the board may
from time to time prescribe or the treasurer
delegate.
FURTHER RESOLVED, that Article III, Section 9 of
the Amended and Restated By-laws of the corporation be,
and it hereby is, deleted in its entirety.
