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Dated: February 23, 1996
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of Issuer:
PC&J Preservation Fund
120 West Third Street
Suite 300
Dayton, Ohio 45402
2. Name of each series or class of funds for which this
notice is filed:
01 PC&J Preservation Fund
3. Investment Company Act File Number: 811-4204
Securities Act File Number: 2-95285
4. Last day of fiscal year for which this notice is filed:
December 31, 1995
5. Check box if this notice is being filed more than 180 days after the
close of the issuer's fiscal year for purposes of reporting securities
sold after the close of the fiscal year but before termination of the
issuer's 24f-2 declaration:______
6. Date of termination of issuer's declaration under rule 24f- 2(a)(1),
if applicable (see Instruction A.6:
7. Number and amount of securities of the same class or series which had
been registered under the Securities Act of 1933 other than pursuant to
rule 24f-2 in a prior fiscal year, but which remained unsold at the
beginning of the fiscal year:
0
8. Number and amount of securities registered during the fiscal year other
than pursuant to rule 24f-2:
169,563
9. Number and aggregate sale price of securities sold during the fiscal
year:
276,735 $3,123,345
10. Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2:
200,290 $ 2,148,573
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable (see
instruction B.7):
Not applicable
12. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year in $ 2,148,573
reliance on rule 24f-2(from Item 10): ____________________
(ii) Aggregate price of shares issued in
connection with dividend reinvestment + 0
plans (from Item 11, if applicable): ____________________
(iii)Aggregate price of shares redeemed or
repurchased during the fiscal year (if - 2,148,573
applicable): ____________________
(iv) Aggregate price of shares redeemed or
repurchased and previously applied as
a reduction to filing fees pursuant to + 0
rule 24e-2 (if applicable): ____________________
(v) Net aggregate price of securities sold
and issued during the fiscal year in
reliance on rule 24f-2 [line (I), plus
line (ii), less line (iii), plus line 0
(iv)] (if applicable): ____________________
(vi) Multiplier prescribed by Section 6(b)
of the Securities Act of 1933 or other
applicable law or regulation (see x 1/2900
Instruction C.6): ____________________
(vii)Fee due [line (I) or line (v) $ 0.00
multiplied by line (vi)]: ====================
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17CFR 202.3a).
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Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and title) \S\ James M. Johnson
----------------------------
James M. Johnson, Secretary
Date: February 23, 1996
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BROWN, CUMMINS & BROWN CO., L.P.A.
ATTORNEYS AND COUNSELORS AT LAW
3500 CAREW TOWER
441 VINE STREET
J.W. BROWN* CINCINNATI, OHIO 45202
JAMES R. CUMMINS TELEPHONE (513) 381-2121
ROBERT S BROWN TELECOPIER (513) 381-2125 OF COUNSEL
DONALD S. MENDELSOHN GILBERT BETTMAN
LYNNE SKILKEN
AMY G. APPLEGATE
KATHRYN KNUE PRZYWARA
MELANIE S. CORWIN
JEFFREY R. TEETERS
JOANN M. STRASSER
_______
*RETIRED February 14, 1996
PC&J Preservation Fund
300 Old Post Office
120 West Third Street
Dayton, Ohio 45402
Gentlemen:
This letter is in response to your request for our opinion in
connection with the Rule 24f-2 Notice for the Trust for the fiscal
year ended December 31, 1995.
We have examined a copy of (a) the Trust's Agreement and
Declaration of Trust and amendments thereto, (b) the Trust's By-Laws
and amendments thereto, and (c) all such agreements, certificates of
public officials, certificates of officers and representatives of the
Trust and others, and such other documents, papers, statutes and
authorities as we deem necessary to form the basis of the opinion
hereinafter expressed. We have assumed the genuineness of the
signatures on original documents submitted to us, the conformity to
executed documents of all unexecuted copies submitted to us and the
conformity to the original of all copies submitted to us as conformed
or copied documents.
Based upon the foregoing, we are of the opinion that the shares
of the Trust, the registration of which the Notice makes definite in
number, if issued in accordance with the Prospectus and Statement of
Additional Information of the Trust, were legally issued, fully paid
and non-assessable.
We herewith give you our permission to file this opinion with the
Securities and Exchange Commission as an exhibit to the Notice
referred to above.
Very truly yours,
/s/
BROWN, CUMMINS & BROWN CO., L.P.A.
BCB/jh
