Long Term Portfolio Series 119
File No. 33-28334
Investment Company Act No. 811-3676
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
POST-EFFECTIVE AMENDMENT NO. 5
TO FORMS S-6
For Registration Under the Securities Act of 1933 of Securities
of Unit Investment Trust Registered on Form N-8B-2
A. Exact name of Trust:
DEAN WITTER SELECT MUNICIPAL TRUST,
LONG TERM PORTFOLIO SERIES 119
B. Name of Depositor:
DEAN WITTER REYNOLDS INC.
C. Complete address of Depositor's principal executive
office:
DEAN WITTER REYNOLDS INC.
Two World Trade Center
New York, New York 10048
D. Name and complete address of agents for service:
Mr. Michael D. Browne
Dean Witter Reynolds Inc.
Unit Trust Department
Two World Trade Center - 59th Floor
New York, New York 10048
Copy to:
Kenneth W. Orce, Esq.
Cahill Gordon & Reindel
80 Pine Street
New York, New York 10005
Check box if it is proposed that this filing should
become effective immediately upon filing pursuant to
paragraph (b) of Rule 485.
<PAGE>
Pursuant to Rule 429(b) under the Securities Act of
1933, the Registration Statement and prospectus con-
tained herein relates to Registration Statement No.:
33-28334
<PAGE>
Cross Reference Sheet
Pursuant to Rule 404(c) of Regulation C
under the Securities Act of 1933
(Form N-8B-2 Items required by Instruction 1
as to Prospectus on Form S-6)
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
I. Organization and General Information
1. a) Name of Trust Front Cover
b) Title of securities issued
2. Name and address of Depositor Table of Contents
3. Name and address of Trustee Table of Contents
4. Name and address of principal Table of Contents
Underwriter
5. Organization of Trust Introduction
6. Execution and termination of In- Introduction; Amendment
denture and Termination of the
Indenture
7. Changes of name *30
8. Fiscal Year Included in Form N-8B-2
9. Litigation *30
II. General Description of the Trust
and Securities of the Trust
10. General Information regarding
Trust's Securities and Rights of
Holders
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
a) Type of Securities Rights of Unit Holders
(Registered or Bearer)
b) Type of Securities Administration of the
(Cumulative or Distribu- Trust-Distribution
tive)
c) Rights of Holders as to Redemption; Public Offer-
Withdrawal or Redemption ing of Units-Secondary
Market
d) Rights of Holders as to con- Public Offering of Units-
version, transfer, etc. Secondary Market; Ex-
change Option; Redemp-
tion; Rights of Unit
Holders-Certificates
e) Lapses or defaults with re- *30
spect to periodic payment
plan certificates
f) Voting rights as to Securi- Rights of Unit Holder-
ties under the Indenture Certain Limitations
g) Notice to Holders as to Amendment and Termination
change in: of the Indenture
1) Assets of Trust Administration of the
Trust-Reports to Unit
Holders; The Trust-
Summary Description of
the Portfolios
2) Terms and Conditions of Amendment and Termination
Trust's Securities of the Indenture
3) Provisions of Trust Amendment and Termination
of the Indenture
4) Identity of Depositor Sponsor; Trustee
and Trustee
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
h) Security Holders Consent re-
quired to change:
1) Composition of assets Amendment and Termination
of Trust of the Indenture
2) Terms and conditions of Amendment and Termination
Trust's Securities of the Indenture
3) Provisions of Indenture Amendment and Termination
of the Indenture
4) Identity of Depositor *30
and Trustee
i) Other Provisions Cover of Prospectus; Tax
Status
11. Type of securities comprising The Trust-Summary De-
units scription of the Portfo-
lios; Objectives and Se-
curities Selection; The
Trust-Special Considera-
tions
12. Type of securities comprising *30
periodic payment certificates
13. a) Load, fees, expenses, etc. Summary of Essential In-
formation; Public Offer-
ing of Units-Public Of-
fering Price; -Profit of
Sponsor; -Volume Dis-
count; Expenses and
Charges
b) Certain information regard- *30
ing periodic payment cer-
tificates
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
c) Certain percentages Summary of Essential In-
formation; Public Offer-
ing of Units-Public Of-
fering Price;-Profit of
Sponsor; -Volume Discount
d) Price differentials Public Offering of Units
-Public Offering Price
e) Certain other loads, fees, Rights of Unit Holders-
etc. payable by holders Certificates
f) Certain profits receivable Redemption-Purchase by
by depositor, principal un- the Sponsors of Units
derwriters, trustee or af- Tendered for Redemption
filiated persons
g) Ratio of annual charges to *30
income
14. Issuance of trust's securities Introduction; Rights of
Unit Holders-Certificates
15. Receipt and handling of payments Public Offering of Units-
from purchasers Profit of Sponsor
16. Acquisition and disposition of Introduction; Amendment
underlying securities and Termination of the
Indenture; Objectives and
Securities Selection; The
Trust-Summary Description
of the Portfolio; Spon-
sor-Responsibility
17. Withdrawal or redemption by Se- Redemption; Public Offer-
curity Holders ing of Units-Secondary
Market
18. a) Receipt and disposition of Administration of the
income Trust; Reinvestment Pro-
grams
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
b) Reinvestment of distribu- Reinvestment Programs
tions
c) Reserves or special fund Administration of the
Trust-Distribution
d) Schedule of distribution *30
19. Records, accounts and report Administration of the
Trust-Records and Ac-
counts; -Reports to Unit
Holders
20. Certain miscellaneous provisions Amendment and Termination
of the Indenture of the Indenture; Sponsor
- Limitation on Liability
- Resignation; Trustee-
- Limitation on Liability
- Resignation
21. Loans to security holders *30
22. Limitations on liability Sponsor, Trustee; Evalua-
tor - Limitation on Li-
ability
23. Bonding arrangements Included in Form N-8B-2
24. Other material provisions of the *30
Indenture
III. Organization Personnel and
Affiliated Persons of Depositor
25. Organization of Depositor Sponsor
26. Fees received by Depositor Expenses and Charges -
fees; Public Offering of
Units-Profit of Sponsor
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
27. Business of Depositor Sponsor and Included in
Form N-8B-2
28. Certain information as to offi- Included in Form N-8B-2
cials and affiliated persons of
Depositor
29. Voting securities of Depositor Included in Form N-8B-2
30. Persons controlling Depositor *30
31. Payments by Depositor for cer- *30
tain other services
32. Payments by Depositor for cer-
tain other services rendered to *30
trust
33. Remuneration of employees of De- *30
positor for certain services
rendered to trust
34. Remuneration of other persons *30
for certain services rendered to
trust
IV. Distribution and Redemption of Securities
35. Distribution of trust's securi- Public Offering of Units-
ties by states Public Distribution
36. Suspension of sales of trust's *30
securities
37. Revocation of authority to dis- *30
tribute
38. (a) Method of distribution Public Offering of Units
(b) Underwriting agreements
(c) Selling agreements
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
39. (a) Organization of principal Sponsor
underwriter
(b) N.A.S.D. membership of
principal underwriter
40. Certain fees received by princi- Public Offering of Units-
pal underwriter Profit of Sponsor
41. (a) Business of principal un- Sponsor
derwriter
(b) Branch offices of principal *30
underwriter
(c) Salesman of principal un- *30
derwriter
42. Ownership of trust's securities *30
by certain persons
43. Certain brokerage commissions *30
received by principal under-
writer
44. (a) Method of valuation Public Offering of Units
(b) Schedule as to offering *30
price
(c) Variation in offering price Public Offering of Units
to certain persons - Volume Discount; Ex-
change option
45. Suspension of redemption rights *30
46. (a) Redemption valuation Public Offering of Units-
Secondary Market; Redemp-
tion
(b) Schedule as to redemption *30
price
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
47. Maintenance of position in - See items 10(d), 44 and
underlying securities 46
V. Information concerning the Trustee or Custodian
48. Organization and regulation of Trustee
Trustee
49. Fees and expenses of Trustee Expenses and Charges
50. Trustee's lien Expenses and Charges
VI. Information concerning Insurance
of Holders of Securities
51. (a) Name and address of Insur- *30
ance Company
(b) Type of policies *30
(c) Type of risks insured and *30
excluded
(d) Coverage of policies *30
(e) Beneficiaries of policies *30
(f) Terms and manner of cancel- *30
lation
(g) Method of determining pre- *30
miums
(h) Amount of aggregate premi- *30
ums paid
(i) Who receives any part of *30
premiums
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
(j) Other material provisions *30
of the Trust relating to
insurance
VII. Policy of Registrant
52. (a) Method of selecting and Introduction; Objectives
eliminating securities from and Securities Selection;
the Trust The Trust - Summary De-
scription of the Portfo-
lio Sponsor - Responsi-
bility
(b) Elimination of securities *30
from the Trust
(c) Policy of Trust regarding Introduction; Objectives
substitution and elimina- and Securities Selection;
tion of securities Sponsor - Responsibility;
(d) Description of any funda- *30
mental policy of the Trust
53. Taxable status of the Trust Cover of Prospectus; Tax
Status
VIII. Financial and Statistical Information
54. Information regarding the *30
Trust's past ten fiscal years
55. Certain information regarding *30
periodic payment plan certifi-
cates
56. Certain information regarding *30
periodic payment plan certifi-
cates
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
Form N-8B-2 Form S-6
Item Number Heading in Prospectus
57. Certain information regarding *30
periodic payment plan certifi-
cates
58. Certain information regarding *30
periodic payment plan certifi-
cates
59. Financial statements Statement of Financial
(Instruction 1(c) to Form S-6) Condition
__________________
* 30 Not applicable, answer negative or not required.
<PAGE>
LOGO
DEAN WITTER SELECT
MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
(A Unit Investment Trust)
_____________________________________________________________
This Trust was formed for the purpose of providing interest in-
come which in the opinion of bond counsel is, under existing
law, excludable from gross income for Federal income tax pur-
poses (except in certain instances depending on the Unit Hold-
ers) through investment in a fixed portfolio consisting primar-
ily of investment grade long-term state, municipal and public
authority debt obligations. The value of the Units of the
Trust will fluctuate with the value of the portfolio of under-
lying Securities. Minimum Purchase: 1 Unit.
_____________________________________________________________
This Prospectus consists of two parts. Part A contains a Sum-
mary of Essential Information and descriptive material relating
to the Trust, and the portfolio and financial statements of the
Trust. Part B contains a general description of the Trust.
Part A may not be distributed unless accompanied by Part B.
_______________________________________________________________
The Initial Public Offering of Units in the Trust has been com-
pleted. The Units offered hereby are issued and outstanding
Units which have been acquired by the Sponsor either by pur-
chase from the Trustee of Units tendered for redemption or in
the Secondary Market.
_______________________________________________________________
<PAGE>
Sponsor: LOGO DEAN WITTER REYNOLDS INC.
_____________________________________________________________
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR
ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR
ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
____________________________________________________________
Read and retain both parts of this Prospectus for future refer-
ence.
Units of the Trust are not deposits or obligations of, or guar-
anteed or endorsed by, any bank, and the Units are not feder-
ally insured by the Federal Deposit Insurance Corporation, Fed-
eral Reserve Board, or any other agency.
Prospectus Part A dated June 26, 1997
<PAGE>
THIS PROSPECTUS DOES NOT CONTAIN ALL OF THE INFORMATION WITH
RESPECT TO THE INVESTMENT COMPANY SET FORTH IN ITS REGISTRATION
STATEMENT AND EXHIBITS RELATING THERETO WHICH HAVE BEEN FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION, WASHINGTON, D.C.,
UNDER THE SECURITIES ACT OF 1933 AND THE INVESTMENT COMPANY ACT
OF 1940, AND TO WHICH REFERENCE IS HEREBY MADE.
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
TABLE OF CONTENTS
PART A Page
Table of Contents...................................... A-1
Summary of Essential Information....................... A-3
The Long Term Uninsured Trust.......................... A-9
Independent Auditor's Report........................... F-1
PART B
Introduction........................................... 1
The Trust.............................................. 2
Special Considerations ............................ 2
Summary Description of the 3
Portfolios ........................................
Insurance on the Securities 21
in an Insured Trust..................................
Objectives and Securities Selection.................... 25
The Units.............................................. 26
Tax Status............................................. 27
Public Offering of Units.......................... 32
Public Offering Price............................. 32
Public Distribution............................... 33
Secondary Market.................................. 34
Profit of Sponsor................................. 35
Volume Discount................................... 35
Exchange Option........................................ 36
Reinvestment Programs.................................. 37
Redemption............................................. 38
Tender of Units................................... 38
Computation of Redemption Price
per Unit........................................ 39
Purchase by the Sponsor of Units
Tendered for Redemption......................... 39
Rights of Unit Holders................................. 40
Certificates...................................... 40
Certain Limitations............................... 40
Expenses and Charges................................... 40
A-1
<PAGE>
Initial Expenses.................................. 40
Fees.............................................. 40
Other Charges..................................... 41
Administration of the Trust............................ 42
Records and Accounts.............................. 42
Distribution...................................... 42
Distribution of Interest and Principal............ 42
Reports to Unit Holders........................... 44
Sponsor................................................ 45
Trustee................................................ 47
Evaluator.............................................. 48
Amendment and Termination of the Indenture............. 49
Legal Opinions......................................... 50
Auditors............................................... 50
Bond Ratings........................................... 50
Federal Tax Free vs. Taxable Income.................... 54
Sponsor:
Dean Witter Reynolds Inc.
Two World Trade Center
New York, New York 10048
Evaluator:
Kenny S&P Evaluation Services
A Division of J.J. Kenny Co., Inc.
65 Broadway
New York, New York 10006
Trustee:
The Chase Manhattan Bank
270 Park Avenue
New York, New York 10017
NO PERSON IS AUTHORIZED TO GIVE ANY INFORMATION OR TO MAKE ANY
REPRESENTATIONS WITH RESPECT TO THIS INVESTMENT COMPANY NOT
CONTAINED IN THIS PROSPECTUS; AND ANY INFORMATION OR
REPRESENTATION NOT CONTAINED HEREIN MUST NOT BE RELIED UPON AS
HAVING BEEN AUTHORIZED. THIS PROSPECTUS DOES NOT CONSTITUTE AN
OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, SECURITIES
IN ANY STATE TO ANY PERSON TO WHOM IT IS NOT LAWFUL TO MAKE
SUCH OFFER IN SUCH STATE.
A-2<PAGE>
<PAGE>
<TABLE>
<CAPTION>
SUMMARY OF ESSENTIAL INFORMATION
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
As of April 30, 1997
<S> <C> <S> <C>
FACE AMOUNT OF SECURITIES $3,225,000.00 DAILY RATE AT WHICH ESTIMATED NET
INTEREST ACCRUES PER UNIT .0171%
NUMBER OF UNITS 3,260
ESTIMATED CURRENT RETURN (based on
Public Offering Price)<F2> 5.916%
FRACTIONAL UNDIVIDED INTEREST IN THE
TRUST REPRESENTED BY EACH UNIT 1/3,260th ESTIMATED LONG TERM RETURN (based on
Public Offering Price)<F2> 5.052%
PUBLIC OFFERING PRICE
MONTHLY INTEREST DISTRIBUTIONS
Aggregate bid side evaluation
of Securities in the Trust $3,290,468.00 Estimated net annual interest rate
per Unit times $1,000 $61.75
Divided by 3,260 Units $ 1,009.35 Divided by 12 $ 5.14
Plus sales charge of 3.286% of RECORD DATE: The ninth day of each month
Public Offering Price (3.398%
of net amount invested in DISTRIBUTION DATE: The fifteenth
Securities) 34.30 day of each month
Public Offering Price per Unit 1,043.65 MINIMUM PRINCIPAL DISTRIBUTION: No
distribution need be made from the
Plus undistributed principal and Principal Account if balance therein
net investment income and accrued is less than $1 per Unit outstanding
interest 21.67<F1>
TRUSTEE'S ANNUAL FEE AND EXPENSES (includ-
Adjusted Public Offering Price $ 1,065.32 ing estimated expenses and Evaluator's
fee) $2.12 per $1,000 face amount
of underlying Securities $ 2.12
SPONSOR'S REPURCHASE PRICE AND
REDEMPTION PRICE PER UNIT (based SPONSOR'S ANNUAL PORTFOLIO SUPERVISION FEE:
on bid side evaluation of under- Maximum of $.25 per $1,000 face amount of
lying Securities, $34.30 less underlying Securities .25
than Adjusted Public Offering
Price per Unit) $ 1,031.02 TOTAL ESTIMATED ANNUAL EXPENSES PER UNIT $ 2.37
CALCULATION OF ESTIMATED NET EVALUATOR'S FEE FOR EACH EVALUATION: Minimum of
ANNUAL INTEREST RATE PER UNIT $8.00 plus $.25 for each issue of underlying
(based on face amount of $1,000 Securities in excess of 50 issues (treating
per Unit) separate maturities as separate issues)
Annual interest rate per Unit 6.412% EVALUATION TIME: 4:00 P.M. New York Time
Less estimated annual expenses per MANDATORY TERMINATION DATE: January 1, 2041
Unit ($2.37) expressed as a
percentage .237% DISCRETIONARY LIQUIDATION AMOUNT: The Trust
may be terminated by the Sponsor if the value
Estimated net annual interest rate of the portfolio of the Trust at any time is
per Unit 6.175% less than $1,632,000.
<F1>Figure shown includes interest accrued (net of expenses) on the underlying Securities to the expected
date of settlement (normally three business days after purchase) for Units purchased on April 30, 1997.
<F2>The estimated current return and estimated long term return are increased for transactions entitled to a
reduced sales charge. (See "The Units - Estimated Annual Income and Current Return" and "Public Offering of
Units - Volume Discount" in Part B of this Prospectus.)
A-3
</TABLE>
<PAGE>
SUMMARY OF ESSENTIAL INFORMATION
(Continued)
THE TRUST -- The Dean Witter Select Municipal Trust
Long Term Portfolio Series 119 (the "Long Term Uninsured
Trust") is a unit investment trust which was created on May 7,
1992 (the "Date of Deposit"), under the laws of the State of
New York pursuant to an Indenture as defined in Part B. The
Trust is composed of "investment grade" long-term inter-
est-bearing municipal bonds (the "Securities"). (For a de-
scription of the meaning of "investment grade" securities, see:
"Bond Ratings", in Part B.) The objectives of the Trust are:
(1) the receipt of income which, under existing law, is exclud-
able from gross income for Federal income tax purposes (except
in certain instances depending on the Unit Holders) and (2) the
conservation of capital. The payment of interest and the pres-
ervation of principal of the Trust is dependent on the continu-
ing ability of the respective Issuers of the Securities to meet
their obligations to pay principal and interest. Therefore,
there is no guarantee that the objectives of the Trust will be
achieved. All of the Securities in the Portfolio are obliga-
tions of states or of the counties, municipalities or public
authorities thereof. Interest on the Securities, in the opin-
ion of bond counsel or special tax counsel to the Issuers
thereof, under existing law, is excludable from gross income
for Federal income tax purposes (except in certain instances
depending on the Unit Holders). (For a discussion of certain
tax aspects of the Trust, see: "Tax Status", in Part B.)
OFFERS TO SELL OR THE SOLICITATION OF ORDERS TO BUY
MAY ONLY BE MADE IN THOSE JURISDICTIONS IN WHICH THE UNITS OF
THE TRUST HAVE BEEN REGISTERED. INVESTORS SHOULD CONTACT
ACCOUNT EXECUTIVES OF THE SPONSOR TO DETERMINE WHETHER THE
UNITS OF THIS TRUST HAVE BEEN REGISTERED FOR SALE IN THE STATE
IN WHICH THEY RESIDE.
MONTHLY DISTRIBUTIONS -- Monthly distributions of
principal, premium, if any, and interest received by the Trust
will be made on or shortly after the fifteenth day of each
month to Unit Holders of record on the ninth day of such month.
Alternatively, Unit Holders may elect to have their monthly
distributions reinvested in either of the Reinvestment Programs
of the Sponsor. (See: "Reinvestment Programs", in Part B.)
PUBLIC OFFERING PRICE -- The Public Offering Price
per Unit of each Trust is calculated daily, and is equal to the
aggregate bid side evaluation of the underlying securities, di-
vided by the number of Units outstanding, plus a sales charge
calculated by reference to "Sales Charge/Volume Discount", be-
low, plus the per Unit balance in the Interest and Principal
Accounts. Units are offered at the Public Offering Price, plus
A-4<PAGE>
accrued interest. (See: "Public Offering of Units", in Part
B.)
ESTIMATED CURRENT RETURN -- The Estimated Current Re-
turn shows the return based on the Public Offering Price and is
computed by multiplying the estimated net annual interest rate
per Unit (which shows the return based on a $1,000 face amount)
by $1,000 and dividing the result by the Public Offering Price
(not including accrued interest). The net annual interest rate
per Unit will vary with changes in the fees and expenses of the
Trustee, the Sponsor and the Evaluator and with the exchange,
redemption, sale or maturity of the underlying Securities. In
addition, the Public Offering Price will also vary with fluc-
tuations in the bid side evaluation of the underlying Securi-
ties. Therefore, it can be expected that the Estimated Current
Return will fluctuate in the future. (See: "The Units -- Es-
timated Annual Income and Current Return", in Part B.)
MARKET FOR UNITS -- The Sponsor, though not obligated
to do so, intends to maintain a market for the Units based on
the aggregate bid side evaluation of the underlying Securities,
as more fully described in Part B -- "Public Offering of Units
- -- Secondary Market". If such market is not maintained, a Unit
Holder will be able to dispose of its Units through redemption
at prices based on the aggregate bid side evaluation of the un-
derlying Securities. (See: "Redemption", in Part B.) Market
conditions may cause such prices to be greater or less than the
amount paid for Units.
SPECIAL CONSIDERATIONS -- An investment in Units of
the Trust should be made with an understanding of the risks
which an investment in fixed rate long term debt obligations
may entail, including the risk that the value of the Units will
decline with increases in interest rates. The Trust is consid-
ered to be concentrated in Health Care and Hospital Securities,
Housing Securities and Prerefunded/Escrowed to Maturity Securi-
ties (31.07%, 29.95% and 38.98%, respectively, of the aggregate
market value of the Long Term Uninsured Trust Portfolio).
(See: "The Trust -- Special Considerations" and "The Trust --
Summary Description of the Portfolios", in Part B. See also:
"The Long Term Uninsured Trust", herein, for a discussion of
additional risks relating to Units of the Trust.)
OTHER INFORMATION -- The Securities in the Portfolio
of the Trust were chosen in part on the basis of their respec-
tive maturity dates. A long term Trust contains obligations
maturing in 15 years or more from the Date of Deposit. The ma-
turity date of the Trust is January 1, 2041. The latest matur-
ity of a Security in the Long Term Uninsured Trust is January
2031; and the average life to maturity (or date of pre-
refunding of a bond) of the Portfolio of Securities therein is
18.734 years. The actual maturity dates of each of the Securi-
A-5<PAGE>
ties contained in the Trust are shown on the respective
"Schedule of Portfolio Securities", herein.
The Trustee shall receive annually 75 cents per
$1,000 principal amount of Securities in the Trust for its
services as Trustee. See: "Expenses and Charges", in Part B,
for a description of other fees and charges which may be in-
curred by a Trust.
SALES CHARGE/VOLUME DISCOUNT -- The Public Offering
Price per Unit will be computed by dividing the aggregate of
the bid prices of the Securities in a Trust by the number of
Units outstanding and then adding the appropriate sales charge
described below.
The sales charge will reflect different rates depend-
ing upon the maturities of the various underlying Securities.
The sales charge per Unit in the secondary market (the
"Effective Sales Charge") will be computed by multiplying the
Evaluator's determination of the bid side evaluation of each
Security by a sales charge determined in accordance with the
table set forth below based upon the number of years remaining
to the maturity of each such Security, totaling all such cal-
culations, and dividing this total by the number of Units then
outstanding. In calculating the date of maturity, a Security
will be considered to mature on its stated maturity date un-
less: (a) the Security has been called for redemption or funds
or securities have been placed in escrow to redeem it on an
earlier call date, in which case the call date will be deemed
the date on which such Security matures; or (b) the Security is
subject to a mandatory tender, in which case the mandatory ten-
der date will be deemed the date on which such Security ma-
tures.
(as % of bid (as % of Public
Time to Maturity side evaluation) Offering Price)
Less than one year................. 0% 0%
1 year to less than 2 years........ 0.756% 0.75%
2 years to less than 4 years....... 1.523% 1.50%
4 years to less than 7 years....... 2.564% 2.50%
7 years to less than 11 years...... 3.627% 3.50%
11 years to less than 15 years..... 4.712% 4.50%
15 years and greater............... 5.820% 5.50%
The Effective Sales Charge per Unit for a sale in the
secondary market, as determined above, will be reduced on a
graduated scale for sales to any single purchaser on a single
A-6<PAGE>
day of the specified number of Units of a Trust set forth be-
low.
Number of Units % of Effective Dealer Concession
Sales Charge as of % of Effective
Sales Charge
1-99................. 100% 65%
100-249......................95% 62%
250-499..................... 85% 55%
500-999..................... 70% 45%
1,000 or more............... 55% 35%
To qualify for the reduced sales charge and conces-
sion applicable to quantity purchases, the selling dealer must
confirm that the sale is to a single purchaser, as described in
"Volume Discount" in Part B of the Prospectus.
Units purchased at an Effective Sales Charge (before
volume purchase discount) of less than 3.00% of the Public Of-
fering Price (3.093% of the bid side evaluation of the Securi-
ties) will not be eligible for exchange at a reduced sales
charge described under the Exchange Option.
Dealers purchasing certain dollar amounts of Units
during the life of the Trusts may be entitled to additional
concessions. The Sponsor reserves the right, at any time and
from time to time, to change the level of dealer concessions.
For further information regarding the volume dis-
count, see: "Public Offering of Units -- Volume Discount", in
Part B.
Note: "Auditors" in Part B is amended so that
"Deloitte & Touche" is replaced with "Deloitte & Touche LLP";
"Evaluator" in Part B is amended so that "Kenny S&P Evaluation
Services, a division of Kenny Information Systems, Inc." is re-
placed with "Kenny S&P Evaluation Services, a Division of J.J.
Kenny Co., Inc."; and "Trustee" in Part B is amended so that
"United States Trust Company of New York, with its principal
place of business at 114 West 47th Street, New York, New York
10036, and its unit investment trust office at 770 Broadway,
New York, New York 10003" is replaced with "The Chase Manhattan
Bank, a New York Bank with its principal executive office lo-
cated at 270 Park Avenue, New York, New York 10017 and its unit
investment trust office at 4 New York Plaza, New York, New York
10004". The reference to the fifth and five business day in
"Redemption -- Computation of Redemption Price per Unit" and
"Administration of the Trust -- Distribution of Interest and
A-7<PAGE>
Principal" in Part B is amended to read third and three, re-
spectively.
On May 31, 1997, Dean Witter, Discover & Co., Dean
Witter's former parent company, and Morgan Stanley Group Inc.
merged to form MSDWD. In connection with such merger, the cor-
porate name of DWDC was changed to Morgan Stanley, Dean Witter,
Discover & Co. ("MSDWD").
A-8<PAGE>
THE TRUST
The Portfolio of the Long Term Uninsured Trust con-
sists of fourteen issues of Securities, which were issued by
Issuers located in eleven states. Fourteen issues of Securi-
ties, while not backed by the taxing power of the Issuer, are
payable from revenues or receipts derived from specific proj-
ects or other available sources. The Long Term Uninsured Trust
contains the following categories of Securities:
Percentage of Aggregate
Market Value of Trust
Portfolio
Category of Security (as of June 6, 1997)
Health Care and Hospital.......... 31.07%
Housing ........................... 29.95%
Prerefunded/Escrowed to
Maturity ........................ 38.98%
Original Issue Discount ........... 68.40%
See: "The Trust -- Summary Description of the Port-
folios", in Part B, for a summary of the investment risks asso-
ciated with the type of Securities contained in the Long Term
Uninsured Trust. See: "Tax Status", in Part B, for a discus-
sion of certain tax considerations with regard to Original Is-
sue Discount.
Of the Original Issue Discount bonds in the Long Term
Uninsured Trust, approximately 4.56% of the aggregate principal
amount of the Securities in the Long Term Uninsured Trust (or
1.39% of the market value of all Securities in the Long Term
Uninsured Trust on June 6, 1997) are zero coupon bonds
(including bonds known as multiplier bonds, money multiplier
bonds, capital accumulator bonds, compound interest bonds and
discount maturity payment bonds).
Securities representing approximately 9.86% of the
aggregate market value of the Portfolio are subject to redemp-
tion at the option of the Issuer thereof beginning in 2000.
(See: "Schedule of Portfolio Securities", herein, and "The
Trust -- Summary Description of the Portfolios -- Additional
Securities Considerations -- Redemption of Securities", in Part
B.)
On June 6, 1997 based on the bid side of the market,
the aggregate market value of Securities in the Long Term Unin-
sured Trust was $3,265,101.15.
A-9<PAGE>
On June 6, 1997 Standard & Poor's Corporation rated
six of the Securities in the Long Term Uninsured Trust as fol-
lows: 5.57%-AAA, 18.94%-AA, 21.27%-A; and Moody's Investors
Service rated seven of the Securities as follows: 33.41%-Aaa,
11.01%-Aa, and 9.80%-A. (See: the respective "Schedule of
Portfolio Securities", herein, and "Bond Ratings", in Part B.)
A Security in the Portfolio may subsequently cease to be rated
or the rating assigned may be reduced below the minimum re-
quirements of the Long Term Uninsured Trust for the acquisition
of Securities. While such events may be considered by the
Sponsor in determining whether to direct the Trustee to dispose
of the Security (see: "Sponsor -- Responsibility", in Part B),
such events do not automatically require the elimination of
such Security from the Portfolio.
A-10<PAGE>
<AUDIT-REPORT>
INDEPENDENT AUDITORS' REPORT
THE UNIT HOLDERS, SPONSOR AND TRUSTEE
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
We have audited the statement of financial condition and schedule of
portfolio securities of the Dean Witter Select Municipal Trust Long Term
Portfolio Series 119 as of April 30, 1997, and the related statements of
operations and changes in net assets for each of the three years in the
period then ended. These financial statements are the responsibility of the
Trustee (see Footnote (a)(1)). Our responsibility is to express an opinion
on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
Our procedures included confirmation of the securities owned as of April 30,
1997 as shown in the statement of financial condition and schedule of
portfolio securities by correspondence with The Chase Manhattan Bank, the
Trustee. An audit also includes assessing the accounting principles used
and the significant estimates made by the Trustee, as well as evaluating the
overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of the Dean Witter Select
Municipal Trust Long Term Portfolio Series 119 as of April 30, 1997, and the
results of its operations and the changes in its net assets for each of the
three years in the period then ended in conformity with generally accepted
accounting principles.
DELOITTE & TOUCHE LLP
June 2, 1997
New York, New York
F-1
</AUDIT-REPORT>
<PAGE>
STATEMENT OF FINANCIAL CONDITION
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
April 30, 1997
TRUST PROPERTY
Investments in municipal bonds at market value (amortized
cost $3,072,965) (Note (a) and Schedule of Portfolio
Securities Notes (4) and (5)) $3,290,468
Accrued interest receivable 48,424
Cash 25,456
Total 3,364,348
LIABILITIES AND NET ASSETS
Less Liabilities:
Accrued Trustee's fees and expenses 3,300
Accrued Sponsor's fees 1,621
Total liabilities 4,921
Net Assets:
Balance applicable to 3,260 Units of fractional
undivided interest outstanding (Note (c)):
Capital, plus unrealized market appreciation
of $217,503 $3,290,468
Undistributed principal and net investment
income (Note (b)) 68,959
Net assets $3,359,427
Net asset value per Unit ($3,359,427 divided by 3,260 Units) $ 1,030.50
See notes to financial statements
F-2
<PAGE>
STATEMENTS OF OPERATIONS
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
For the years ended April 30,
1997 1996 1995
Investment income - interest $220,735 $233,178 $262,980
Less Expenses:
Trustee's fees and expenses 7,106 7,492 8,399
Sponsor's fees 838 884 991
Total expenses 7,944 8,376 9,390
Investment income - net 212,791 224,802 253,590
Net gain on investments:
Realized gain on securities sold
or redeemed 11,784 48,928 4,829
Net unrealized market (depreciation)
appreciation (7,405) 19,765 11,118
Net gain on investments 4,379 68,693 15,947
Net increase in net assets resulting from
operations $217,170 $293,495 $269,537
See notes to financial statements
F-3
<PAGE>
STATEMENTS OF CHANGES IN NET ASSETS
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
For the years ended April 30,
1997 1996 1995
Operations:
Investment income - net $ 212,791 $ 224,802 $ 253,590
Realized gain on securities sold or
redeemed 11,784 48,928 4,829
Net unrealized market (depreciation)
appreciation (7,405) 19,765 11,118
Net increase in net assets
resulting from operations 217,170 293,495 269,537
Less Distributions to Unit Holders:
Principal (15,017) (13,233) (22,523)
Investment income - net (210,347) (223,467) (251,868)
Total distributions (225,364) (236,700) (274,391)
Less Capital Share Transactions:
Redemption of 153 Units, 539 Units
and 128 Units, respectively (155,114) (555,423) (120,461)
Accrued interest on redemption (3,355) (10,789) (2,436)
Total capital share
transactions (158,469) (566,212) (122,897)
Net decrease in net assets (166,663) (509,417) (127,751)
Net assets:
Beginning of year 3,526,090 4,035,507 4,163,258
End of year (including undistributed
principal and net investment income
of $68,959, $76,796 and $83,482,
respectively) $3,359,427 $3,526,090 $4,035,507
See notes to financial statements
F-4
<PAGE>
NOTES TO FINANCIAL STATEMENTS
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
April 30, 1997
(a) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Trust is registered under the Investment Company Act of 1940 as a
Unit Investment Trust. The following is a summary of the significant
accounting policies of the Trust:
(1) Basis of Presentation
The Trustee has custody of and responsibility for all accounting
and financial books, records, financial statements and related data
of the Trust and is responsible for establishing and maintaining a
system of internal controls directly related to, and designed to
provide reasonable assurance as to the integrity and reliability
of, financial reporting of the Trust. The Trustee is also
responsible for all estimates and accruals reflected in the Trust's
financial statements. The Evaluator determines the price for each
underlying Security included in the Trust's Portfolio of Securities
on the basis set forth in Part B of this Prospectus, "Public
Offering of Units - Public Offering Price". Under the Securities
Act of 1933 ("the Act"), as amended, the Sponsor is deemed to be an
issuer of the Trust Units. As such, the Sponsor has the
responsibility of an issuer under the Act with respect to financial
statements of the Trust included in the Trust's Registration
Statement under the Act and amendments thereto.
(2) Investments
Investments are stated at market value as determined by the
Evaluator based on the bid side evaluations on the last day of
trading during the period, except that value on the date of deposit
(May 7, 1992) represents the cost of investments to the Trust based
on the offering side evaluations as of the date prior to the date
of deposit.
(3) Income Taxes
The Trust is not an association taxable as a corporation for
Federal income tax purposes; accordingly, no provision is required
for such taxes.
(4) Expenses
The Trust pays annual Trustee's fees, including estimated expenses
and Evaluator's fees, and annual Sponsor's portfolio supervision
fees and may incur additional charges as explained under "Expenses
and Charges - Fees" and "- Other Charges" in Part B of this
Prospectus.
(b) DISTRIBUTIONS
Interest received by the Trust is distributed to the Unit Holders on or
shortly after the fifteenth day of each month after deducting applicable
expenses. Receipts other than interest are distributed as explained in
"Administration of the Trust - Distribution of Interest and Principal"
in Part B of this Prospectus.
F-5
<PAGE>
NOTES TO FINANCIAL STATEMENTS
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
April 30, 1997
(c) ORIGINAL COST TO INVESTORS
The original cost to investors represents the aggregate initial public
offering price as of the date of deposit (May 7, 1992) exclusive of
accrued interest, computed on the basis set forth under "Public Offering
of Units - Public Offering Price" in Part B of this Prospectus.
A reconciliation of the original cost of Units to investors to the net
amount applicable to investors as of April 30, 1997 follows:
Original cost to investors $4,131,688
Less: Gross underwriting commissions (sales charge) (202,435)
Net cost to investors 3,929,253
Cost of securities sold or redeemed (866,868)
Unrealized market appreciation 217,503
Accumulated interest accretion 10,580
Net amount applicable to investors $3,290,468
(d) OTHER INFORMATION
Selected data for a Unit of the Trust during each year:
For the years ended April 30
1997 1996 1995
Principal distributions during year $ 4.40 $ 3.76 $ 5.58
Net investment income distributions
during year $ 61.96 $ 62.35 $ 62.55
Net asset value at end of year $1,030.50 $1,033.14 $1,021.13
Trust Units outstanding at end
of year 3,260 3,413 3,952
F-6
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE OF PORTFOLIO SECURITIES
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
April 30, 1997
Port- Optional
folio Rating Face Coupon Maturity Sinking Fund Refunding Market
No. Title of Securities <F3> Amount Rate Date Redemptions<F5> Redemptions<F4> Value<F6><F7>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1. Idaho Housing Agency,
Single-Family Mortgage Sen-
ior Bonds, 1992 Series B-1
<F10> AA $ 360,000 6.950% 07/01/17 01/01/13@100 07/01/02@102 $ 377,514
2. Indiana Health Facility
Financing Authority, Hospi-
tal Revenue Refunding Bonds,
Series 1992A (St. Anthony
Medical Center, Inc.) A2<F8> 295,000 7.000 10/01/06 10/01/04@100 04/01/02@102 317,420
3. Massachusetts Bay Trans-
portation Authority, General
Transportation System Bonds,
1991 Series A (Refunded) <F9> Aaa<F8> 250,000 7.000 03/01/11 NONE 03/01/01@102 273,948
4. Massachusetts Health and
Educational Facilities
Authority Revenue Bonds, The
Medical Center of Central
Massachusetts Issue, Series
A A 400,000 7.100 07/01/21 07/01/13@100 07/01/01@102 423,748
5. Michigan State Hospital
Finance Authority, Hospital
Revenue Bonds, (McLaren
Obligated Group), Series
1991A (Refunded) <F9> Aaa<F8> 30,000 7.500 09/15/21 NONE 09/15/01@102 33,660
6. Michigan State Housing
Development Authority,
Single-Family Mortgage Reve-
nue Bonds, 1992 Series A <F10> AA+ 230,000 6.875 06/01/23 12/01/18@100 06/01/02@102 237,792
7. Michigan State Housing
Development Authority,
Single-Family Mortgage Reve-
nue Bonds, 1992 Series A <F10> AA+ 5,000 6.875 06/01/23 12/01/18@100 06/01/97@100 5,000
8. Montana Board of Housing,
Single-Family Mortgage Sen-
ior Bonds, 1992 Series A-1
<F10> Aa2<F8> 345,000 6.950 10/01/22 04/01/17@100 04/01/02@102 358,376
9. New York Local Government
Assistance Corporation,
Series 1992A (Refunded) <F9> Aaa<F8> 340,000 6.875 04/01/19 NONE 04/01/02@102 375,799
10. North Carolina Eastern
Municipal Power Agency,
Power System Revenue Bonds,
Refunding Series 1987 A
(Refunded) <F9> Aaa<F8> 200,000 4.500 01/01/24 NONE 01/01/22@100 169,176
11. Cuyahoga County, Ohio,
Hospital Revenue Bonds,
Series 1990 (Meridia Health
System) A1<F8> 250,000 7.250 08/15/19 08/15/13@100 08/15/00@102 266,850
12. South Carolina Public
Service Authority (Santee
Cooper) Revenue Bonds, 1991
Series D (Refunded) (AMBAC
Insured) <F9><F12> AAA 200,000 6.500 07/01/24 NONE 07/01/02@102 217,938
13. South Carolina Public
Service Authority (Santee
Cooper) Revenue Bonds, 1991
Refunding and Improvement
Series B (Refunded) (MBIA
Insured) <F9><F11> AAA 125,000 6.500 07/01/26 NONE 07/01/01@102 135,182
14. Southeast Texas Housing
Finance Corporation, Single-
Family Mortgage Revenue
Bonds, 1984 Series A (MBIA
Insured) (Escrowed to Matur-
ity) <F11> AAA 145,000 0.000 09/01/17 NONE NONE 44,357
F-7
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE OF PORTFOLIO SECURITIES
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
(CONTINUED)
April 30, 1997
Port- Optional
folio Rating Face Coupon Maturity Sinking Fund Refunding Market
No. Title of Securities <F3> Amount Rate Date Redemptions<F5> Redemptions<F4> Value<F6><F7>
<S> <C> <C> <C> <C> <C> <C> <C> <C>
15. Municipality of Metropol-
itan Seattle Sewer Revenue
Bonds, Series T (Refunded)
<F9> Aaa<F8> $ 50,000 6.875% 01/01/31 NONE 01/01/00@102 $ 53,708
$3,225,000 $ 3,290,468
See notes to schedule of portfolio securities
F-8
</TABLE>
<PAGE>
NOTES TO SCHEDULE OF PORTFOLIO SECURITIES
DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES 119
April 30, 1997
[FN]
<F3> All ratings are provided by Standard & Poor's Corporation, unless
otherwise indicated. A brief description of applicable Security
ratings is given under "Bond Ratings" in Part B of this
Prospectus.
<F4> There is shown under this heading the date on which each issue of
Securities is redeemable by the operation of optional call
provisions and the redemption price for that date; unless
otherwise indicated, each issue continues to be redeemable at
declining prices thereafter but not below par. Securities listed
as non-callable, as well as Securities listed as callable, may
also be redeemable at par under certain circumstances from special
redemption payments.
<F5> There is shown under this heading the date on which an issue of
Securities is subject to scheduled sinking fund redemption and the
redemption price on such date.
<F6> The market value of the Securities as of April 30, 1997 was
determined by the Evaluator on the basis of bid side evaluations
for the Securities at such date.
<F7> At April 30, 1997, the unrealized market appreciation of all
Securities was comprised of the following:
Gross unrealized market appreciation $217,503
Gross unrealized market depreciation -
Unrealized market appreciation $217,503
The amortized cost of the Securities for Federal income tax
purposes was $3,072,965 at April 30, 1997.
<F8> Moody's Investors Service, Inc. rating.
<F9> The Issuer has indicated that it will refund this Security on its
optional redemption date.
<F10> See "The Trust - Summary Description of the Portfolios - Revenue
Securities - Housing Securities" in Part B of this Prospectus for
the discussion relating to Housing Securities.
<F11> Insured by Municipal Bond Insurance Association ("MBIA").
<F12> Insured by American Municipal Bond Assurance Corporation ("AMBAC").
F-9
<PAGE>
(MODULE)
(NAME) DWSMTPARTB941
(CIK) 0000840581
(CCC) uit*59fl
(/MODULE)
<PAGE>
CONTENTS OF REGISTRATION STATEMENT
This registration statement comprises the following docu-
ments:
The facing sheet.
The Cross Reference Sheet.
The Prospectus.
The signatures.
Consent of the Evaluator and Independent Auditors and
Standard & Poor's; all other consents were previously
filed.
The following exhibits:
23. 1a. Consents of Kenny S&P Evaluation Services, a di-
vision of J.J. Kenny Co., Inc.
1b. Consent of Independent Auditors.
2. Financial Data Schedule of Dean Witter Municipal
Trust, Long Term Portfolio Series 119.
FINANCIAL STATEMENTS
1. Statement of Financial Condition, Statement of Operations
and Statement of Changes in Net Assets of the Trust, as
shown in the Prospectus.
<PAGE>
CONSENT OF COUNSEL
The consent of counsel to the use of its name in the
Prospectus included in this Registration Statement is contained
in its opinion filed as Exhibit 3 to this Registration
Statement.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, each of the
registrants, Dean Witter Select Municipal Trust, Long Term Portfolio Series
119, certifies that it meets all of the requirements for effectiveness of this
Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933
and has duly caused this Post-Effective Amendment No. 5 to the Registration
Statement to be signed on their behalf by the undersigned, there-unto duly
authorized, all in The City of New York and State of New York on the 26th day
of June, 1997.
DEAN WITTER SELECT MUNICIPAL TRUST,
LONG TERM PORTFOLIO SERIES 119
(Registrants)
By: DEAN WITTER REYNOLDS INC.
(Depositor)
Thomas Hines
Thomas Hines
Authorized Signatory
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 5 to the Registration Statement has been signed
on behalf of Dean Witter Reynolds Inc., the Depositor, by the following person
in the following capacities and by the following persons who constitute a
majority of the Depositor's Board of Directors in The City of New York and
State of New York on this 26th day of June, 1997.
<PAGE>
Name Office
Philip J. Purcell Chairman & Chief Executive
Officer and Director
Richard M. DeMartini Director
Robert J. Dwyer Director
Christine A. Edwards Director
Charles A. Fiumefreddo Director
James F. Higgins Director
Mitchell M. Merin Director
Stephen R. Miller Director
Richard F. Powers III Director
Thomas C. Schneider Director
William B. Smith Director
Thomas Hines
Thomas Hines
Attorney-in-fact1
1 Executed copies of the Powers of Attorney of the Board Mem-
bers listed below have been filed with the Securities and Ex-
change Commission in connection with Amendment No. 1 to the
Registration Statement on Form S-6 for Dean Witter Select Eq-
uity, Select 10 Industrial Portfolio 97-1, File No. 333-
16839, Amendment No. 1 to the Registration Statement on Form
S-6 for Dean Witter Select Equity Trust, Select 10 Industrial
Portfolio 96-4, File No. 333-10499 and the Registration
Statement on Form S-6 for Dean Witter Select Equity Trust,
Select 10 International Series 95-1, File No. 33-056389.<PAGE>
EXHIBIT INDEX
EXHIBIT NO. TITLE OF DOCUMENT
23. 1a. Consent of Kenny S&P Evaluation Services, a divi-
sion of J.J. Kenny Co., Inc.
1b. Consent of Deloitte & Touche LLP
27. 1. Financial Data Schedule of Dean Witter Select Mu-
nicipal Trust, Long Term Portfolio Series 119
<PAGE>
Letterhead of KENNY S&P EVALUATION SERVICES
A division of J.J. Kenny Co., Inc.
June 26th, 1997
Dean Witter Reynolds Inc.
Two World Trade Center
New York, NY 10048
Re: Dean Witter Select Municipal Trust,
Long Term Portfolio Series 119
Gentlemen:
We have examined the post-effective Amendment to the
Registration Statement File No. 33-28334 for the
above-captioned trust. We hereby acknowledge that Kenny S&P
Evaluation Services, a division of J.J. Kenny Co., Inc. is cur-
rently acting as the evaluator for the trust. We hereby con-
sent to the use in the Registration Statement of the references
to Kenny S&P Evaluation Services, a division of J.J. Kenny Co.,
Inc. as evaluator.
In addition, we hereby confirm that the ratings indi-
cated in the Registration Statement for the respective bonds
comprising the trust portfolio are the ratings indicated in our
KENNYBASE database as of the evaluation report.
You are hereby authorized to file a copy of this let-
ter with the Securities and Exchange Commission.
Sincerely,
Frank A. Ciccotto
Frank A. Ciccotto
Vice President
<PAGE>
Exhibit 23.1b.
CONSENT OF INDEPENDENT AUDITORS
We consent to the use of our report dated June 2, 1997, accompanying the
financial statements of the Dean Witter Select Municipal Trust Long Term
Portfolio Series 119 included herein and to the reference to our Firm as
experts under the heading "Auditors" in the prospectus which is a part of
this registration statement.
DELOITTE & TOUCHE LLP
June 26, 1997
New York, New York
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL
INFORMATION EXTRACTED FROM THE FINANCIAL
STATEMENTS FOR DEAN WITTER SELECT
MUNICIPAL TRUST LONG TERM PORTFOLIO
SERIES 119 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS
<RESTATED>
<SERIES>
<NAME> DEAN WITTER SELECT MUNICIPAL TRUST
LONG TERM PORTFOLIO SERIES
<NUMBER> 119
<MULTIPLIER> 1
<FISCAL-YEAR-END> Apr-30-1997
<PERIOD-START> May-1-1996
<PERIOD-END> Apr-30-1997
<PERIOD-TYPE> YEAR
<INVESTMENTS-AT-COST> 3,072,965
<INVESTMENTS-AT-VALUE> 3,290,468
<RECEIVABLES> 48,424
<ASSETS-OTHER> 25,456
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,364,348
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,921
<TOTAL-LIABILITIES> 4,921
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,073,471
<SHARES-COMMON-STOCK> 3,260
<SHARES-COMMON-PRIOR> 3,413
<ACCUMULATED-NII-CURRENT> 68,453
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 217,503
<NET-ASSETS> 3,359,427
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 218,334
<OTHER-INCOME> 2,401
<EXPENSES-NET> 7,944
<NET-INVESTMENT-INCOME> 212,791
<REALIZED-GAINS-CURRENT> 11,784
<APPREC-INCREASE-CURRENT> (7,405)
<NET-CHANGE-FROM-OPS> 217,170
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 210,347
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 15,017
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 153
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (166,663)
<ACCUMULATED-NII-PRIOR> 71,765
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
