<PAGE> PAGE 1
000 A000000 05/31/1999
000 C000000 0000856517
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 MONEY MARKET OBLIGATIONS TRUST
001 B000000 811-5950
001 C000000 4122882614
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 13
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C021000 FEDERATED MASTER TRUST (11/30 FYE)
007 C031000 N
007 C011100 11
007 C021100 TRUST FOR GOVERNMENT CASH RESERVES(11/30 FYE)
007 C031100 N
007 C011200 12
007 C021200 TRUST FOR SHORT TERM U.S.GOV. SEC (11/30 FYE)
007 C031200 N
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
<PAGE> PAGE 2
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15222
013 B04AA01 5401
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 PAINE WEBBER INC.
022 B000001 13-2638166
022 C000001 12631999
022 D000001 0
022 A000002 BEAR, STEARN SECURITIES
022 B000002 13-3299429
022 C000002 2108100
022 D000002 0
022 A000003 NCNB NATIONAL BANK
022 C000003 2059100
022 D000003 0
022 A000004 BT SECURITIES CORP
022 C000004 1679000
022 D000004 0
022 A000005 BANK OF AMERICA
022 B000005 95-4035346
022 C000005 1534439
<PAGE> PAGE 3
022 D000005 0
022 A000006 SALOMON SMITH BARNEY
022 C000006 1386200
022 D000006 0
022 A000007 ABN AMRO CHICAGO CORP.
022 C000007 1307400
022 D000007 0
022 A000008 DEUTSCHE BANK AG
022 B000008 13-2730828
022 C000008 1265033
022 D000008 0
022 A000009 PARIBAS CORP.
022 C000009 1047000
022 D000009 0
022 A000010 LEHMAN BROS. INC.
022 B000010 13-2518466
022 C000010 995319
022 D000010 0
023 C000000 31585874
023 D000000 362273
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
049 00AA00 N
<PAGE> PAGE 4
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 N
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 Y
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 LLOYD'S OF LONDON
080 B00AA00 ZURICH INSURANCE COMPANY, RELIANCE INSURANCE
080 C00AA00 70000
081 A00AA00 Y
081 B00AA00 153
<PAGE> PAGE 5
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A001001 FEDERATED INVESTMENT MANAGEMENT COMPANY
008 B001001 A
008 C001001 801-34609
008 D011001 PITTSBURGH
008 D021001 PA
008 D031001 15222
008 D041001 3779
015 A001001 STATE STREET BANK AND TRUST COMPANY
015 B001001 C
015 C011001 BOSTON
015 C021001 MA
015 C031001 02266
015 C041001 8600
015 E011001 X
015 A001002 BANKERS TRUST CO.
015 B001002 S
015 C011002 NEW YORK
015 C021002 NY
015 C031002 10015
015 E011002 X
015 A001003 BANK OF NEW YORK
015 B001003 S
015 C011003 NEW YORK
015 C021003 NY
015 C031003 10006
015 E011003 X
015 A001004 THE CHASE MANHATTAN CORP.
015 B001004 S
015 C011004 NEW YORK
015 C021004 NY
015 C031004 10006
<PAGE> PAGE 6
015 E011004 X
015 A001005 MORGAN GUARANTY BANK & TRUST CO.
015 B001005 S
015 C011005 NEW YORK
015 C021005 NY
015 C031005 10015
015 E011005 X
015 A001006 NATIONSBANK OF NORTH CAROLINA
015 B001006 S
015 C011006 CHARLOTTE
015 C021006 NC
015 C031006 28255
015 E011006 X
015 A001007 PNC BANK, NA
015 B001007 S
015 C011007 PITTSBURGH
015 C021007 PA
015 C031007 15265
015 E011007 X
028 A011000 164938
028 A021000 0
028 A031000 0
028 A041000 176263
028 B011000 161540
028 B021000 428
028 B031000 0
028 B041000 114998
028 C011000 112114
028 C021000 433
028 C031000 0
028 C041000 153914
028 D011000 215771
028 D021000 350
028 D031000 0
028 D041000 214755
028 E011000 249442
028 E021000 399
028 E031000 0
028 E041000 202628
028 F011000 122562
028 F021000 330
028 F031000 0
028 F041000 225942
028 G011000 1026367
028 G021000 1940
028 G031000 0
028 G041000 1088500
028 H001000 0
037 001000 N
038 001000 0
039 001000 N
<PAGE> PAGE 7
040 001000 N
041 001000 N
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 0
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 0
043 001000 0
044 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.400
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
055 A001000 N
055 B001000 N
056 001000 N
057 001000 N
058 A001000 N
059 001000 Y
060 A001000 Y
060 B001000 Y
061 001000 25000
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 12.3
<PAGE> PAGE 8
062 E001000 0.0
062 F001000 5.4
062 G001000 0.0
062 H001000 0.0
062 I001000 43.8
062 J001000 0.0
062 K001000 0.0
062 L001000 38.6
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 58
063 B001000 0.0
064 A001000 N
064 B001000 N
070 A011000 Y
070 A021000 Y
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 Y
070 K011000 N
070 K021000 N
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 N
070 N021000 N
070 O011000 Y
070 O021000 Y
070 P011000 Y
070 P021000 Y
070 Q011000 N
<PAGE> PAGE 9
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 0
071 B001000 0
071 C001000 0
071 D001000 0
072 A001000 6
072 B001000 11569
072 C001000 0
072 D001000 0
072 E001000 0
072 F001000 908
072 G001000 171
072 H001000 0
072 I001000 14
072 J001000 19
072 K001000 0
072 L001000 7
072 M001000 7
072 N001000 17
072 O001000 0
072 P001000 0
072 Q001000 42
072 R001000 8
072 S001000 4
072 T001000 567
072 U001000 0
072 V001000 0
072 W001000 21
072 X001000 1785
072 Y001000 746
072 Z001000 10530
072AA001000 0
072BB001000 0
072CC011000 0
072CC021000 0
072DD011000 10530
072DD021000 0
072EE001000 0
073 A011000 0.0200
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 0
074 B001000 50000
074 C001000 355467
074 D001000 0
074 E001000 0
074 F001000 0
074 G001000 0
<PAGE> PAGE 10
074 H001000 0
074 I001000 0
074 J001000 0
074 K001000 0
074 L001000 1229
074 M001000 0
074 N001000 406696
074 O001000 0
074 P001000 0
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 1756
074 S001000 0
074 T001000 404940
074 U011000 404940
074 U021000 0
074 V011000 1.00
074 V021000 0.00
074 W001000 0.9999
074 X001000 2310
074 Y001000 0
075 A001000 455046
075 B001000 0
076 001000 0.00
008 A001101 FEDERATED INVESTMENT MANAGEMENT COMPANY
008 B001101 A
008 C001101 801-34609
008 D011101 PITTSBURGH
008 D021101 PA
008 D031101 15222
008 D041101 3779
015 A001101 STATE STREET BANK & TRUST COMPANY
015 B001101 C
015 C011101 BOSTON
015 C021101 MA
015 C031101 02266
015 C041101 8600
015 E011101 X
015 A001102 BANKERS TRUST CO.
015 B001102 S
015 C011102 NEW YORK
015 C021102 NY
015 C031102 10015
015 E011102 X
015 A001103 BANK OF NEW YORK
015 B001103 S
015 C011103 NEW YORK
015 C021103 NY
015 C031103 10006
<PAGE> PAGE 11
015 E011103 X
015 A001104 THE CHASE MANHATTAN CORP.
015 B001104 S
015 C011104 NEW YORK
015 C021104 NY
015 C031104 10006
015 E011104 X
015 A001105 MORGAN GUARANTY BANK & TRUST CO.
015 B001105 S
015 C011105 NEW YORK
015 C021105 NY
015 C031105 10015
015 E011105 X
015 A001106 NATIONSBANK OF NORTH CAROLINA
015 B001106 S
015 C011106 CHARLOTTE
015 C021106 NC
015 C031106 28255
015 E011106 X
015 A001107 PNC BANK, NA
015 B001107 S
015 C011107 PITTSBURGH
015 C021107 PA
015 C031107 15265
015 E011107 X
028 A011100 277886
028 A021100 0
028 A031100 0
028 A041100 165057
028 B011100 124902
028 B021100 293
028 B031100 0
028 B041100 235282
028 C011100 82163
028 C021100 310
028 C031100 0
028 C041100 104339
028 D011100 104872
028 D021100 269
028 D031100 0
028 D041100 106288
028 E011100 90684
028 E021100 283
028 E031100 0
028 E041100 127604
028 F011100 50243
028 F021100 222
028 F031100 0
028 F041100 65621
028 G011100 730750
028 G021100 1377
<PAGE> PAGE 12
028 G031100 0
028 G041100 804191
028 H001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 N
041 001100 N
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 0
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.400
048 A011100 0
048 A021100 0.000
048 B011100 0
048 B021100 0.000
048 C011100 0
048 C021100 0.000
048 D011100 0
048 D021100 0.000
048 E011100 0
048 E021100 0.000
048 F011100 0
048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
055 A001100 N
055 B001100 N
056 001100 N
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 N
<PAGE> PAGE 13
060 B001100 N
061 001100 25000
062 A001100 Y
062 B001100 0.0
062 C001100 99.9
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 44
063 B001100 0.0
064 A001100 N
064 B001100 N
070 A011100 N
070 A021100 Y
070 B011100 N
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 N
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 N
<PAGE> PAGE 14
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 0
071 B001100 0
071 C001100 0
071 D001100 0
072 A001100 6
072 B001100 12930
072 C001100 0
072 D001100 0
072 E001100 0
072 F001100 1043
072 G001100 197
072 H001100 0
072 I001100 6
072 J001100 16
072 K001100 0
072 L001100 4
072 M001100 7
072 N001100 9
072 O001100 0
072 P001100 0
072 Q001100 49
072 R001100 6
072 S001100 3
072 T001100 652
072 U001100 0
072 V001100 0
072 W001100 8
072 X001100 2000
072 Y001100 805
072 Z001100 11735
072AA001100 0
072BB001100 0
072CC011100 0
072CC021100 0
072DD011100 11735
072DD021100 0
072EE001100 0
073 A011100 0.0200
073 A021100 0.0000
073 B001100 0.0000
073 C001100 0.0000
074 A001100 576
<PAGE> PAGE 15
074 B001100 0
074 C001100 462629
074 D001100 0
074 E001100 0
074 F001100 0
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 1524
074 M001100 0
074 N001100 464729
074 O001100 0
074 P001100 0
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 1786
074 S001100 0
074 T001100 462943
074 U011100 462943
074 U021100 0
074 V011100 1.00
074 V021100 0.00
074 W001100 1.0003
074 X001100 501
074 Y001100 0
075 A001100 522851
075 B001100 0
076 001100 0.00
008 A001201 FEDERATED INVESTMENT MANAGEMENT COMPANY
008 B001201 A
008 C001201 801-34609
008 D011201 PITTSBURGH
008 D021201 PA
008 D031201 15222
008 D041201 3779
015 A001201 STATE STREET BANK AND TRUST COMPANY
015 B001201 C
015 C011201 BOSTON
015 C021201 MA
015 C031201 02266
015 C041201 8600
015 E011201 X
015 A001202 BANKERS TRUST CO.
015 B001202 S
015 C011202 NEW YORK
015 C021202 NY
015 C031202 10015
<PAGE> PAGE 16
015 E011202 X
015 A001203 BANK OF NEW YORK
015 B001203 S
015 C011203 NEW YORK
015 C021203 NY
015 C031203 10006
015 E011203 X
015 A001204 THE CHASE MANHATTAN CORP.
015 B001204 S
015 C011204 NEW YORK
015 C021204 NY
015 C031204 10006
015 E011204 X
015 A001205 MORGAN GUARANTY BANK & TRUST CO.
015 B001205 S
015 C011205 NEW YORK
015 C021205 NY
015 C031205 10015
015 E011205 X
015 A001206 NATIONSBANK OF NORTH CAROLINA
015 B001206 S
015 C011206 CHARLOTTE
015 C021206 NC
015 C031206 28255
015 E011206 X
015 A001207 PNC BANK, NA
015 B001207 S
015 C011207 PITTSBURGH
015 C021207 PA
015 C031207 15265
015 E011207 X
028 A011200 183544
028 A021200 0
028 A031200 0
028 A041200 174721
028 B011200 205361
028 B021200 470
028 B031200 0
028 B041200 209804
028 C011200 163605
028 C021200 450
028 C031200 0
028 C041200 180766
028 D011200 177554
028 D021200 386
028 D031200 0
028 D041200 179672
028 E011200 179292
028 E021200 432
028 E031200 0
028 E041200 158854
<PAGE> PAGE 17
028 F011200 120199
028 F021200 425
028 F031200 0
028 F041200 153152
028 G011200 1029555
028 G021200 2163
028 G031200 0
028 G041200 1056969
028 H001200 0
037 001200 N
038 001200 0
039 001200 N
040 001200 N
041 001200 N
042 A001200 0
042 B001200 0
042 C001200 0
042 D001200 0
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
043 001200 0
044 001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.400
048 A011200 0
048 A021200 0.000
048 B011200 0
048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 0
048 K021200 0.000
055 A001200 N
<PAGE> PAGE 18
055 B001200 N
056 001200 N
057 001200 N
058 A001200 N
059 001200 Y
060 A001200 N
060 B001200 N
061 001200 25000
062 A001200 Y
062 B001200 0.0
062 C001200 64.0
062 D001200 36.0
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 0.0
062 M001200 0.0
062 N001200 0.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
063 A001200 47
063 B001200 0.0
064 A001200 N
064 B001200 N
070 A011200 Y
070 A021200 Y
070 B011200 N
070 B021200 N
070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 N
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 N
070 J021200 N
070 K011200 N
<PAGE> PAGE 19
070 K021200 N
070 L011200 N
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 0
071 B001200 0
071 C001200 0
071 D001200 0
072 A001200 6
072 B001200 14751
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 1186
072 G001200 224
072 H001200 0
072 I001200 4
072 J001200 19
072 K001200 0
072 L001200 5
072 M001200 7
072 N001200 10
072 O001200 0
072 P001200 0
072 Q001200 46
072 R001200 7
072 S001200 3
072 T001200 741
072 U001200 0
072 V001200 0
072 W001200 7
072 X001200 2259
072 Y001200 915
072 Z001200 13407
072AA001200 0
072BB001200 0
072CC011200 0
072CC021200 0
072DD011200 13407
072DD021200 0
<PAGE> PAGE 20
072EE001200 0
073 A011200 0.0200
073 A021200 0.0000
073 B001200 0.0000
073 C001200 0.0000
074 A001200 74
074 B001200 205800
074 C001200 366688
074 D001200 0
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 2149
074 M001200 0
074 N001200 574711
074 O001200 0
074 P001200 0
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 2278
074 S001200 0
074 T001200 572433
074 U011200 572433
074 U021200 0
074 V011200 1.00
074 V021200 0.00
074 W001200 1.0000
074 X001200 731
074 Y001200 0
075 A001200 594491
075 B001200 0
076 001200 0.00
SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000856517
<NAME> MONEY MARKET OBLIGATIONS TRUST
<SERIES>
<NUMBER> 010
<NAME> Federated Master Trust
<S> <C>
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 405,466,948
<INVESTMENTS-AT-VALUE> 405,466,948
<RECEIVABLES> 1,229,047
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 406,695,995
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,756,028
<TOTAL-LIABILITIES> 1,756,028
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 404,939,967
<SHARES-COMMON-PRIOR> 465,133,895
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 404,939,967
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,567,888
<OTHER-INCOME>
<EXPENSES-NET> (1,037,986)
<NET-INVESTMENT-INCOME> 10,529,902
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,529,902)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,026,366,501
<NUMBER-OF-SHARES-REDEEMED> (1,088,500,489)
<SHARES-REINVESTED> 1,940,060
<NET-CHANGE-IN-ASSETS> (60,193,928)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 907,598
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,784,325
<AVERAGE-NET-ASSETS> 455,045,726
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.020)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.460
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000856517
<NAME> MONEY MARKET OBLIGATIONS TRUST
<SERIES>
<NUMBER> 011
<NAME> Trust for Government Cash Reserves
<S> <C>
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 462,629,344
<INVESTMENTS-AT-VALUE> 462,629,344
<RECEIVABLES> 1,524,059
<ASSETS-OTHER> 575,762
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 464,729,165
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,786,617
<TOTAL-LIABILITIES> 1,786,617
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 462,942,548
<SHARES-COMMON-PRIOR> 535,006,516
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 462,942,548
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,929,804
<OTHER-INCOME>
<EXPENSES-NET> (1,195,121)
<NET-INVESTMENT-INCOME> 11,734,683
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,734,683)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 730,750,372
<NUMBER-OF-SHARES-REDEEMED> (804,190,981)
<SHARES-REINVESTED> 1,376,641
<NET-CHANGE-IN-ASSETS> (72,063,968)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,042,837
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,999,874
<AVERAGE-NET-ASSETS> 522,851,039
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.020)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.460
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000856517
<NAME> MONEY MARKET OBLIGATIONS TRUST
<SERIES>
<NUMBER> 012
<NAME> Trust for Short-Term U.S. Government Securities
<S> <C>
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 572,488,422
<INVESTMENTS-AT-VALUE> 572,488,422
<RECEIVABLES> 2,148,459
<ASSETS-OTHER> 74,058
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 574,710,939
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,277,807
<TOTAL-LIABILITIES> 2,277,807
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 572,433,132
<SHARES-COMMON-PRIOR> 597,684,819
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 572,433,132
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,751,192
<OTHER-INCOME>
<EXPENSES-NET> (1,343,862)
<NET-INVESTMENT-INCOME> 13,407,330
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,407,330)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,029,554,846
<NUMBER-OF-SHARES-REDEEMED> (1,056,969,228)
<SHARES-REINVESTED> 2,162,695
<NET-CHANGE-IN-ASSETS> (25,251,687)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,185,724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,259,017
<AVERAGE-NET-ASSETS> 594,490,852
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.020)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.450
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
FEDERATED MASTER TRUST
Item 77 C -- Submission of Matters to a Vote of Security Holders
A Special Meeting of shareholders of Federated Master Trust (the "Trust")
was held on March 22, 1999. The following items, which are required to be
reported under this Item 77C, were approved by shareholders of the Trust
at the meeting:
AGENDA ITEM 1: To elect Trustees:*
1) Thomas G. Bigley
2) John T. Conroy, Jr.
3) Nicholas P. Constantakis
4) John F. Cunningham
5) J. Christopher Donahue
6) Peter E. Madden
7) Charles F. Mansfield, Jr.
8) John E. Murray, Jr., J.D., S.J.D.
9) John S. Walsh
*The following Trustees of the Trust continued their terms as Trustees:
John F. Donahue, Lawrence D. Ellis, M.D. and Marjorie P. Smuts.
AGENDA ITEM 2: To ratify the selection of Deloitte & Touche LLP as
the Trust's independent auditors:
The results of shareholders voting were as follows:
Shares voted affirmatively ...................................241,690,314
Shares voted negatively ........................................177,007
Shares abstaining
......................................................5,889,588
AGENDA ITEM 3: To make changes to the Trust's fundamental
investment policies:
(a) To approve amending the Trust's fundamental investment policy with
regard to diversification of its investments:
The results of shareholders voting were as follows:
Shares voted affirmatively ................................240,600,480
Shares voted negatively ....................................1,122,829
Shares abstaining ............................................6,029,333
(b) To approve making non-fundamental, and amending, the Trust's
fundamental investment policy regarding maturity of money market
instruments
The results of shareholders voting were as follows:
Shares voted affirmatively .................................240,626,793
Shares voted negatively .....................................1,041,530
Shares abstaining ...........................................6,084,319
(c) To approve making non-fundamental, and amending, the Trust's policy
prohibiting investment in securities to exercise control of an issuer:
The results of shareholders voting were as follows:
Shares voted affirmatively ................................240,391,017
Shares voted negatively ....................................1,201,229
Shares abstaining ............................................6,160,396
(d) To approve making non-fundamental, and amending, the Trust's
ability to invest in the securities of other investment companies.
The results of shareholders voting were as follows:
Shares voted affirmatively ................................240,531,830
Shares voted negatively ....................................1,201,683
Shares abstaining ..........................................6,100,129
(e) To approve making non-fundamental the Trust's policy regarding
types of money market instruments which the Trust is permitted
to purchase.
The results of shareholders voting were as follows:
Shares voted affirmatively ...............................240,287,315
Shares voted negatively ..................................1,387,298
Shares abstaining ........................................6,078,030
(f) To approve making non-fundamental the Trust's ability
to invest in unrated securities.
The results of shareholders voting were as follows:
Shares voted affirmatively .............................239,867,341
Shares voted negatively ................................1,765,604
Shares abstaining ......................................6,119,698
(g) To approve making non-fundamental the Trust's ability
to invest in unrated securities
The results of shareholders voting were as follows:
Shares voted affirmatively .............................240,378,362
Shares voted negatively ...............................1,111,479
Shares abstaining ........................................6,262,801
(h) To approve making non-fundamental the Trust's policy
regarding the description of commercial paper that the
Trust may purchase:
The results of shareholders voting were as follows:
Shares voted affirmatively .............................240,383,853
Shares voted negatively .................................1,197,909
Shares abstaining ........................................6,170,880
(i) To approve making non-fundamental, and amending,
the Trust's policy regarding pledging assets to secure
permitted borrowings:
The results of shareholders voting were as follows:
Shares voted affirmatively ...............................240,236,708
Shares voted negatively .....................................1,402,904
Shares abstaining ...........................................6,113,031
AGENDA ITEM 4: To eliminate the Trust's fundamental investment
policy on concentration and to reserve freedom to concentrate
investments in the domestic banking industry:
The results of shareholders voting were as follows:
Shares voted affirmatively ................................240,148,874
Shares voted negatively .....................................1,577,170
Shares abstaining ...........................................6,026,598
AGENDA ITEM 5: To approve an amendment and restatement to the
Trust's Declaration of Trust to require the approval by a
"1940 Act" majority of shareholders in the event of the sale
or conveyance of the assets of the
Trust to another trust or corporation:
The results of shareholders voting were as follows:
Shares voted affirmatively ...............................240,522,889
Shares voted negatively ....................................1,170,584
Shares abstaining ..........................................6,059,169
AGENDA ITEM 6: To approve a proposed Agreement and Plan of
Reorganization between the Trust and Money Market Obligations
Trust, on behalf of its series, Federated Master Trust
(the "New Fund"), whereby the New Fund would acquire all
of the assets of the Trust in exchange for shares of the
New Fund to be distributed pro rata by the Trust to its
shareholders in complete liquidation and termination of the Trust:
The results of shareholders voting were as follows:
Shares voted affirmatively ............................240,234,717
Shares voted negatively ................................1,508,815
Shares abstaining ......................................6,009,110
The Definitive Proxy Statement for the Special Meeting
held on March 22, 1999, was filed with the Securities and
Exchange Commission on February 3, 1999, and is incorporated
by reference. (File No. 811-2784)
TRUST FOR SHORT-TERM GOVERNMENT SECURITIES
Item 77 C -- Submission of Matters to a Vote of Security Holders
A Special Meeting of shareholders of Trust for Short-Term U.S.
Government Securities (the "Trust") was held on March 22, 1999.
The following items, which are required to be
reported under this Item 77C, were approved by shareholders
of the Trust at the meeting:
AGENDA ITEM 1: To elect Trustees:*
1) Thomas G. Bigley
2) John T. Conroy, Jr.
3) Nicholas P. Constantakis
4) John F. Cunningham
5) J. Christopher Donahue
6) Peter E. Madden
7) Charles F. Mansfield, Jr.
8) John E. Murray, Jr., J.D., S.J.D.
9) John S. Walsh
*The following Trustees of the Trust continued their terms
as Trustees: John F. Donahue, Lawrence D. Ellis, M.D.
and Marjorie P. Smuts.
AGENDA ITEM 2: To ratify the selection of
Deloitte & Touche LLP as the Trust's independent auditors:
The results of shareholders voting were as follows:
Shares voted affirmatively ........................393,144,374
Shares voted negatively ............................432,179
Shares abstaining .........................................0
AGENDA ITEM 3: To make changes to the Trust's fundamental investment
policies:
(a) To approve making non-fundamental, and amending,
the Trust's fundamental investment policy regarding maturity
of money market instruments:
The results of shareholders voting were as follows:
Shares voted affirmatively ........................370,063,444
Shares voted negatively ............................4,374,291
Shares abstaining
.....................................................19,135,275
(b) To approve amending the Trust's fundamental investment
policyregarding pledging securities to permit the Trust
to pledge assets to secure permitted borrowings:
The results of shareholders voting were as follows:
Shares voted affirmatively .....................351,218,748
Shares voted negatively ..............................22,381,022
Shares abstaining ....................................19,973,241
AGENDA ITEM 4: To approve a clarifying amendment to the
Trust's Investment Advisory Agreement to exclude
Rule 12b-1 fees and shareholder service fees from the expense cap:
The results of shareholders voting were as follows:
Shares voted affirmatively .................340,251,019
Shares voted negatively .......................40,717,036
Shares abstaining ...........................12,608,497
AGENDA ITEM 5: To approve an amendment and restatement to the
Trust's Declaration of Trust to require the approval by a "1940 Act"
majority of shareholders in the event of the sale or conveyance of
the assets of the Trust to another trust or corporation:
The results of shareholders voting were as follows:
Shares voted affirmatively .....................368,495,659
Shares voted negatively .....................9,961
Shares abstaining .............................25,067,390
AGENDA ITEM 6: To approve a proposed Agreement and Plan
of Reorganization between the Trust and Money Market Obligations
Trust, on behalf of its series, Trust for Short-Term U.S.
Government Securities (the "New Fund"), whereby the New Fund
would acquire all of the assets of the Trust in exchange
for shares of the New Fund to be distributed pro rata by the
Trust to its shareholders in complete liquidation and
termination of the Trust:
The results of shareholders voting were as follows:
Shares voted affirmatively .....................368,479,390
Shares voted negatively ........................9,961
Shares abstaining ................................25,083,659
The Definitive Proxy Statement for the Special Meeting held
on March 22, 1999, was filed with the Securities and Exchange
Commission on February 3, 1999, and is incorporated by reference.
(File No. 811-2602)
TRUST FOR GOVERNMENT CASH RESERVES
Item 77 C -- Submission of Matters to a Vote of Security Holders
A Special Meeting of shareholders of Trust for Government
Cash Reserves, (the "Trust") was held on March 22, 1999.
The following items, which are required to be reported
under this Item 77C, were approved by shareholders of the
Trust at the meeting:
AGENDA ITEM 1: To elect Trustees:*
1.) Thomas G. Bigley
2.) John T. Conroy, Jr.
3.) John F. Cunningham
4.) Peter E. Madden
5.) Charles F. Mansfield, Jr.
6.) John E. Murray, Jr., J.D., S.J.D.
7.) John S. Walsh
*The following Trustees of the Trust continued their
terms as Trustees: John F. Donahue, Lawrence D. Ellis,
M.D. and Marjorie P. Smuts.
AGENDA ITEM 2: To ratify the selection of Arthur Andersen
LLP as the Trust's independent auditors:
The results of shareholders voting were as follows:
Shares voted affirmatively ..............366,288,718
Shares voted negatively ........................0
Shares abstaining .........................0
AGENDA ITEM 3: To approve a proposed Agreement and Plan of
Reorganization between the Trust and Money Market Obligations Trust,
on behalf of its series, Trust for Government Cash Reserves
(the "New Fund"), whereby the New Fund would acquire all of the
assets of the Trust in exchange for shares of the New Fund to be
distributed pro rata by the Trust to its shareholders in complete
liquidation and termination of the Trust:
The results of shareholders voting were as follows:
Shares voted affirmatively ....................366,132,371
Shares voted negatively .........................0
Shares abstaining ..................156,346
The Definitive Proxy Statement for the Special Meeting
held on March 22, 1999, was filed with the
Securities and Exchange Commission on February 3, 1999,
and is incorporated by reference. (File No. 811-5772)
TRUST FOR GOVERNMENT CASH RESERVES
ITEM 77 K
CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Change of Independent Auditors:
On May 19, 1999, the Trust's Board of Trustees, upon the
recommendation of the Audit Committee of the Board of Trustees,
dismissed Arthur Andersen LLP ("AA") as the Trust's independent
auditors. During the six month period ended May 31, 1999
(the "Period"): (i) AA did not issue any report on the Trust's
financial statements; (ii) there were no disagreements with AA on
any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of AA, would
have caused it to make reference to the subject matter of the
disagreements in connection with its report on the financial
statements for such period; and (iii) there were no "reportable
events" of the kind described in Item 304(a)(1)(v) of Regulation
S-K under the Securities Exchange Act of 1934, as amended.
The Trust, by action of its Board of Trustees, engaged Deloitte &
Touche LLP ("D&T') as the independent auditors for the purposes of
auditing the Trust's financial statements for the fiscal year
ending November 30, 1999. During the Period, neither the Trust,
nor anyone on the Trust's behalf has consulted D&T on items which
(i) concerned the application of the accounting principles to a
specified transaction, either completed or proposed, or the type
of audit opinion that might be rendered on the Trust's financial
statements or (ii) concerned the subject of a disagreement
(as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K)
or reportable events (as described in paragraph
(a)(1)(v) of said Item 304).
FEDERATED MASTER TRUST
ITEM 77M
MERGERS
Pursuant to the Securities Act of 1933, as amended, and the
General Rules and Regulations thereunder, a Registration Statement
on Form N-14 (SEC File No. 2-60111) was filed on January 12, 1999
, and amended on February 3, 1999. This filing relates to an
Agreement and Plan of Reorganization between Money Market Obligations
Trust , on behalf of its series, Federated Master Trust (the "Trust")
and Federated Master Trust (the "New Fund") whereby the New Fund
acquired all of the assets of the Trust in exchange for shares of
the New Fund to be distributed pro rata by the Trust to its
shareholders in complete liquidation and termination of the
Trust. As a result, effective April 26, 1999, each shareholder
of Money Market Obligations Trust became the owner of New Fund
shares having a total net asset value equal to the total net
asset value of his or her holdings in Money Market Obligations Trust.
The Agreement and Plan of Reorganization providing for the transfer
of the assets of Money Market Obligations Trust to the New Fund was
approved by the Board of Trustees at their Regular Meeting held on
February 3, 1999, and was also approved by shareholders at a Special
Meeting of Shareholders of the New Fund held on
March 22, 1999.
The Agreement and Plan of Reorganization concerning this acquisition
is hereby incorporated by reference from the definitive Prospectus/Proxy
Statement filed on February 3, 1999.
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
ITEM 77M
MERGERS
Pursuant to the Securities Act of 1933, as amended, and the
General Rules and Regulations thereunder, a Registration Statement on
Form N-14 (SEC File No. 2-54929) was filed on January 11, 1999, and
amended on February 3, 1999. This filing relates to an Agreement and
Plan of Reorganization between Money Market Obligations Trust , on
behalf of its series, Trust for Short-Term U.S. Government
Securities (the "Trust") and Trust for Short-Term U.S. Government
Securities (the "New Fund") whereby the New Fund acquired all of
the assets of the Trust in exchange for shares of the New Fund to
be distributed pro rata by the Trust to its shareholders in complete
liquidation and termination of the Trust. As a result, effective
April 26, 1999, each shareholder of Money Market Obligations Trust
became the owner of New Fund shares having a total net asset value
equal to the total net asset value of his or her holdings in Money
Market Obligations Trust.
The Agreement and Plan of Reorganization providing for the transfer of
the assets of Money Market Obligations Trust to the New Fund was
approved by the Board of Trustees at their Regular Meeting held on
February 3, 1999, and was also approved by shareholders at a
Special Meeting of Shareholders of the New Fund held on March
22, 1999.
The Agreement and Plan of Reorganization concerning this
acquisition is hereby incorporated by reference from the
definitive Prospectus/Proxy Statement filed on February 3, 1999.
TRUST FOR GOVERNMENT CASH RESERVES
ITEM 77M
MERGERS
Pursuant to the Securities Act of 1933, as amended, and the
General Rules and Regulations thereunder, a Registration Statement
on Form N-14 (SEC File No. 33-27178) was filed on January 12, 1999,
and amended on February 3, 1999. This filing relates to an Agreement
and Plan of Reorganization between Money Market Obligations Trust ,
on behalf of its series, Trust for Government Cash Reserves
(the "Trust") and Trust for Government Cash Reserves (the "New Fund")
whereby the New Fund acquired all of the assets of the Trust in
exchange for shares of the New Fund to be distributed pro rata by
the Trust to its shareholders in complete liquidation and termination
of the Trust. As a result, effective April 26, 1999, each shareholder
of Money Market Obligations Trust became the owner of New Fund shares
having a total net asset value equal to the total net asset value of
his or her holdings in Money Market Obligations Trust.
The Agreement and Plan of Reorganization providing for the transfer
of the assets of Money Market Obligations Trust to the New Fund was
approved by the Board of Trustees at their Regular Meeting held on
February 3, 1999, and was also approved by shareholders at a Special
Meeting of Shareholders of the New Fund held on
March 22, 1999.
The Agreement and Plan of Reorganization concerning this
acquisition is hereby incorporated by reference from the
definitive Prospectus/Proxy Statement filed on February 3, 1999.
ITEM 77Q(a)(i)
FEDERATED MASTER TRUST
Amendment No. 1 to By-Laws
(Effective February 17, 1984)
ARTICLE I
Officers and Their Election
Section 2. Election of Officers. The President,
Vice President(s), Treasurer and Secretary shall be chosen
annually by the Trustees. The Chairman of the Trustees shall
be chosen annually by and from the Trustees.
ARTICLE III
Powers and Duties of the Executive and Other Committees
Section 1. Executive and Other Committees. The Trustees
may elect from their own number an executive committee to consist
of not less than two members. The executive committee shall be
elected by a resolution passed by a vote of at least a majority of
the Trustees then in office. The Trustees may also elect from their
own number other committees and the powers conferred upon he same to
be determined by vote of the Trustees.
ITEM 77Q(a)(ii)
FEDERATED MASTER TRUST
Amendment No. 2 to By-Laws
(Effective February 2, 1987)
ARTICLE II
POWERS AND DUTIES OF TRUSTEES AND OFFICERS
Section 2. Chairman of the Trustees ("Chairman"). The Chairman
shall be the chief executive officer of the Trust. He shall have
general supervision over the business of the Trust and policies of
the Trust. He shall employ and define the duties of all employees of
the Trust, shall have power to discharge any such employees, shall
exercise general supervision over the affairs of the Trust and shall
perform such other duties as may be assigned to him form time to time
by the Trustees. He shall preside at the meetings of shareholders and
of the Trustees. The Chairman shall appoint a Trustees or officer
to preside at such meetings in his absence.
ITEM 77Q(a)(iii)
FEDERATED MASTER TRUST
Amendment No. 3 to By-Laws
(Effective November 18, 1997)
Delete Article III, Section 7 and replace with the following:
Action by Consent of the Board of Trustees, Executive Committee
or Other Committee. Subject to Article V, Section 2 of these
By-Laws, any action required or permitted to be taken at any
meeting of the Trustees, Executive Committee or any other duly
appointed Committee may be taken without a meeting if consents
in writing setting forth such action are signed by all members
of the Board or such committee and such consents are filed
with the records of the Trust. In the event of the death,
removal, resignation or incapacity of any Board or committee
member prior to that Trustee signing such consent, the
remaining Board or committee members may re-constitute
themselves as the entire Board or committee until such time
as the vacancy is filled in order to fulfill the requirement
that such consents be signed by all members of the Board of committee.
ITEM 77Q(a)(iv)
FEDERATED MASTER TRUST
Amendment No. 4 to By-Laws
(Effective February 23, 1998)
Delete Sections 1, 2 and 3 of Article I, OFFICERS AND THEIR ELECTION,
and replace with:
Section 1. Officers. The Officers of the Trust shall be a President,
one or more Vice Presidents, a Treasurer, and a Secretary. The Board of
Trustees, in its discretion, may also elect or appoint a Chairman of the
Board of Trustees (who must be a Trustee) and other Officers or agents,
including one or more Assistant Vice Presidents, one or more Assistant
Secretaries, and one or more Assistant Treasurers. A Vice President, the
Secretary or the Treasurer may appoint an Assistant Vice President, an
Assistant Secretary or an Assistant Treasurer, respectively, to serve
until the next election of Officers. Two or more offices may be held by
a single person except the offices of President and Vice President may
not be held by the same person concurrently. It shall not be necessary
for any Trustee or any Officer to be a holder of shares in any Series or
Class of the Trust.
Section 2. Election of Officers. The Officers shall be elected annually
by the Trustees. Each Officer shall hold office for one year and until
the election and qualification of his successor, or until earlier
resignation or removal. The Chairman of the Board of Trustees, if there
is one, shall be elected annually by and from the Trustees, and serve
until a successor is so elected and qualified, or until earlier
resignation or removal.
Section 3. Resignations and Removals and Vacancies. Any Officer of the
Trust may resign at any time by filing a written resignation with the
Board of Trustees (or Chairman of the Trustees, if there is one), with
the President, or with the Secretary. Any such resignation shall take
effect at the time specified therein or, if no time is specified, at the
time of receipt. Unless otherwise specified therein, the acceptance of
such resignation shall not be necessary to make it effective. Any
Officer elected by the Board of Trustees or whose appointment has been
ratified by the Board of Trustees may be removed with or without cause at
any time by a majority vote of all of the Trustees. Any other employee
of the Trust may be removed or dismissed at any time by the President.
Any vacancy in any of the offices, whether by resignation, removal or
otherwise, may be filled for the unexpired portion of the term by the
President. A vacancy in the office of Assistant Vice President may be
filled by a Vice President; in the office of Assistant Secretary by the
Secretary; or in the office of Assistant Treasurer by the Treasurer. Any
appointment to fill any vacancy shall serve subject to ratification by
the Board of Trustees at its next regular meeting.
ITEM 77Q(a)(v)
FEDERATED MASTER TRUST
Amendment No. 5 to By-Laws
(Effective February 27, 1998)
Delete Section 5 Proxies of Article IV Shareholders' Meetings,
and replace with the following:
Section 5. Proxies. Any shareholder entitled to vote at any meeting of
shareholders may vote either in person,
by telephone, by electronic means including facsimile, or by proxy, but
no proxy which is dated more than six months before the meeting named
therein shall be accepted unless otherwise provided in the proxy. Every
proxy shall be in writing, subscribed by the shareholder or his duly
authorized agent or be in such other form as may be permitted by law,
including documents conveyed by electronic transmission. Every proxy
shall be dated, but need not be sealed, witnessed or acknowledged. The
placing of a shareholder's name on a proxy or authorizing another to act
as the shareholder's agent, pursuant to telephone or electronically
transmitted instructions obtained in accordance with procedures
reasonably designed to verify that such instructions have been authorized
by such shareholder, shall constitute execution of a proxy by or on
behalf of such shareholder. Where Shares are held of record by more than
one person, any co-owner or co-fiduciary may execute the proxy or give
authority to an agent, unless the Secretary of the Trust is notified in
writing by any co-owner or co-fiduciary that the joinder of more than one
is to be required. All proxies shall be filed with and verified by the
Secretary or an Assistant Secretary of the Trust, or the person acting as
Secretary of the Meeting. Unless otherwise specifically limited by their
term, all proxies shall entitle the holders thereof to vote at any
adjournment of such meeting but shall not be valid after the final
adjournment of such meeting.
ITEM 77Q(a)(vi)
FEDERATED MASTER TRUST
Amendment No. 6 to By-Laws
(Effective May 12, 1998)
Strike Section 3 - Place of Meeting of Article IV - Shareholders'
Meetings and replace it with the following:
Section 3. Place of Meeting. Meetings of the shareholders of the Trust
or a particular Series or Class shall be held at such place within or
without The Commonwealth of Massachusetts as may be fixed from time to
time by resolution of the Trustees.
Strike Section 6 - Place of Meeting of Article V - Trustees' Meetings and
replace it with the following:
Section 6. Place of Meeting. Meetings of the Trustees shall be held at
such place within or without The Commonwealth of Massachusetts as fixed
from time to time by resolution of the Trustees, or as the person or
persons requesting said meeting to be called may designate, but any
meeting may adjourn to any other place.
ITEM 77Q(a)(vii)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 1 to By-Laws
(Effective December 24, 1975)
_________________________
ARTICLE IV
SHAREHOLDERS' MEETINGS
Section 3. Place of Meeting. Meetings of the Shareholders
shall be held at the principal place of business of the Trust
in Pittsburgh, Pennsylvania, or at such place within or without
the Commonwealth of Massachusetts as fixed from time to time by
resolution of the Trustees.
ARTICLE V
TRUSTEES' MEETINGS
Section 6. Place of Meeting. Meetings of the Trustees
shall be held at the principal place of business of the Trust
in Pittsburgh, Pennsylvania, or at such place within or without
the Commonwealth of Massachusetts as fixed from time to time by
resolution of the Trustees, or as the person or persons requesting
said meeting to be called may designate, but any meeting may
adjourn to any other place.
ARTICLE IX
SEAL
The seal of the Trust shall be circular in form, bearing
the inscription:
"Trust for Short-Term U.S. Government Securities - 1975 -
Massachusetts"
ARTICLE X
FISCAL YEAR
The fiscal year of the Trust shall be the period of twelve
months ending on the last day of September in each calendar year.
ITEM 77Q(a)(viii)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 2 to By-Laws
(Effective March 19, 1976)
________________
ARTICLE X
FISCAL YEAR
The fiscal year of the Trust shall be the period of twelve months
ending on the last day of November in each calendar year.
ITEM 77Q(a)(ix)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 3 to By-Laws
(Effective November 7, 1977)
_________________________
ARTICLE V
TRUSTEES' MEETINGS
Section 10. Compensation of Trustees. The Trustees may receive a
stated salary for their services as Trustees, and by resolution of the
Trustees a fixed fee and expenses of attendance may be allowed for
attendance at each meeting. Nothing herein contained shall be construed
to preclude any Trustee from serving the Trust in any other capacity as
an officer, agent or otherwise, and receiving compensation therefor.
ITEM 77Q(a)(x)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 4 to By-Laws
(Effective February 17, 1984)
ARTICLE I
OFFICERS AND THEIR ELECTION
Section 2. Election of Officers. The President,
Vice President(s), Treasurer and Secretary shall be chosen
annually by the Trustees. The Chairman of the Trustees shall
be chosen annually by and from the Trustees.
ARTICLE III
POWERS AND DUTIES OF THE EXECUTIVE AND OTHER COMMITTEES
Section 1. Executive and Other Committees. The Trustees
may elect from their own number an executive committee to consist
of not less than two members. The executive committee shall be
elected by a resolution passed by a vote of at least a majority
of the Trustees then in office. The Trustees may also elect from
their own number other committees from time to time, the number
composing such committees and the powers conferred upon the same
to be determined by vote of the Trustees.
ITEM 77Q(a)(xi)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 5 to By-Laws
(Effective February 2, 1987)
ARTICLE II
POWERS AND DUTIES OF TRUSTEES AND OFFICERS
Section 2. Chairman of the Trustees ("Chairman"). The
Chairman shall be the chief executive officer of the Trust.
He shall have general supervision over the business of the Trust
and policies of the Trust. He shall employ and define the duties
of all employees of the Trust, shall have power to discharge any
such employees, shall exercise general supervision over the affairs
of the Trust and shall perform such other duties as may be assigned
to him from time to time by the Trustees. He shall preside at
the meetings of shareholders and of the Trustees. The Chairman
shall appoint a Trustee or officer to preside at such meetings
in his absence.
ITEM 77Q(a)(xii)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 6 to By-Laws
(Effective November 18, 1997)
Delete Article III, Section 7 and replace with the following:
Action by Consent of the Board of Trustees, Executive Committee
or Other Committee. Subject to Article V, Section 2 of these
By-Laws, any action required or permitted to be taken at any
meeting of the Trustees, Executive Committee or any other duly
appointed Committee may be taken without a meeting if consents
in writing setting forth such action are signed by all members
of the Board or such committee and such consents are filed with
the records of the Trust. In the event of the death, removal,
resignation or incapacity of any Board or committee member prior
to that Trustee signing such consent, the remaining Board or
committee members may re-constitute themselves as the entire Board
or committee until such time as the vacancy is filled in order
to fulfill the requirement that such consents be signed by all
members of the Board of committee.
ITEM 77Q(a)(xiii)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 7 to By-Laws
(Effective February 23, 1998)
Delete Sections 1, 2 and 3 of Article I, OFFICERS AND THEIR ELECTION,
and replace with:
Section 1. Officers. The Officers of the Trust shall be a
President, one or more Vice Presidents, a Treasurer, and
a Secretary. The Board of Trustees, in its discretion,
may also elect or appoint a Chairman of the Board of
Trustees (who must be a Trustee) and other Officers or
agents, including one or more Assistant Vice Presidents,
one or more Assistant Secretaries, and one or more Assistant
Treasurers. A Vice President, the Secretary or the Treasurer
may appoint an Assistant Vice President, an Assistant
Secretary or an Assistant Treasurer, respectively, to
serve until the next election of Officers. Two or more
offices may be held by a single person except the offices of
President and Vice President may not be held by the same person
concurrently. It shall not be necessary for any Trustee or any
Officer to be a holder of shares in any Series or Class of the
Trust.
Section 2. Election of Officers. The Officers shall be
elected annually by the Trustees. Each Officer shall hold
office for one year and until the election and qualification
of his successor, or until earlier resignation or removal.
The Chairman of the Board of Trustees, if there is one, shall
be elected annually by and from the Trustees, and serve until
a successor is so elected and qualified, or until earlier
resignation or removal.
Section 3. Resignations and Removals and Vacancies. Any
Officer of the Trust may resign at any time by filing a written
resignation with the Board of Trustees (or Chairman of the
Trustees, if there is one), with the President, or with
the Secretary. Any such resignation shall take effect
at the time specified therein or, if no time is specified,
at the time of receipt. Unless otherwise specified therein, the
acceptance of such resignation shall not be necessary to
make it effective. Any Officer elected by the Board of
Trustees or whose appointment has been ratified by the Board
of Trustees may be removed with or without cause at any time
by a majority vote of all of the Trustees. Any other employee
of the Trust may be removed or dismissed at any time by the
President. Any vacancy in any of the offices, whether by
resignation, removal or otherwise, may be filled for the
unexpired portion of the term by the President. A vacancy
in the office of Assistant Vice President may be filled by
a Vice President; in the office of Assistant Secretary by
the Secretary; or in the office of Assistant Treasurer by the
Treasurer. Any appointment to fill any vacancy shall serve
subject to ratification by the Board of Trustees at its next
regular meeting.
ITEM 77Q(a)(xiv)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 8 to By-Laws
(Effective February 27, 1998)
Delete Section 5 Proxies of Article IV Shareholders' Meetings, and
replace with the following:
Section 5. Proxies. Any shareholder entitled to vote at
any meeting of shareholders may vote either in person, by telephone, by
electronic means including facsimile, or by proxy, but no proxy which is
dated more than six months before the meeting named therein shall be
accepted unless otherwise provided in the proxy. Every proxy shall be in
writing, subscribed by the shareholder or his duly authorized agent or be
in such other form as may be permitted by law, including documents
conveyed by electronic transmission. Every proxy shall be dated, but
need not be sealed, witnessed or acknowledged. The placing of a
shareholder's name on a proxy or authorizing another to act as the
shareholder's agent, pursuant to telephone or electronically transmitted
instructions obtained in accordance with procedures reasonably designed
to verify that such instructions have been authorized by such
shareholder, shall constitute execution of a proxy by or on behalf of
such shareholder. Where Shares are held of record by more than one
person, any co-owner or co-fiduciary may execute the proxy or give
authority to an agent, unless the Secretary of the Trust is notified in
writing by any co-owner or co-fiduciary that the joinder of more than one
is to be required. All proxies shall be filed with and verified by the
Secretary or an Assistant Secretary of the Trust, or the person acting as
Secretary of the Meeting. Unless otherwise specifically limited by their
term, all proxies shall entitle the holders thereof to vote at any
adjournment of such meeting but shall not be valid after the final
adjournment of such meeting.
ITEM 77Q(a)(xv)
TRUST FOR SHORT-TERM U.S. GOVERNMENT SECURITIES
Amendment No. 9 to By-Laws
(Effective May 12, 1998)
Strike Section 3 - Place of Meeting of Article IV - Shareholders'
Meetings and replace it with the following:
Section 3. Place of Meeting. Meetings of the shareholders of
the Trust or a particular Series or Class shall be held at such place
within or without The Commonwealth of Massachusetts as may be fixed
from time to time by resolution of the Trustees.
Strike Section 6 - Place of Meeting of Article V - Trustees' Meetings and
replace it with the following:
Section 6. Place of Meeting. Meetings of the Trustees shall be held at
such place within or without The Commonwealth of Massachusetts as fixed
from time to time by resolution of the Trustees, or as the person or
persons requesting said meeting to be called may designate, but any
meeting may adjourn to any other place.
ITEM 77Q(a)(xvi)
TRUST FOR GOVERNMENT CASH RESERVES
Amendment No. 1 to By-Laws
(Effective November 18, 1997)
Delete Article III, Section 7 and replace with the following:
Action by Consent of the Board of Trustees, Executive Committee
or Other Committee. Subject to Article V, Section 2 of these
By-Laws, any action required or permitted to be taken at any meeting
of the Trustees, Executive Committee or any other duly appointed
Committee may be taken without a meeting if consents in writing setting
forth such action are signed by all members of the Board or such
committee and such consents are filed with the records of the Trust.
In the event of the death, removal, resignation or incapacity of any
Board or committee member prior to that Trustee signing such consent,
the remaining Board or committee members may re-constitute themselves
as the entire Board or committee until such time as the vacancy is
filled in order to fulfill the requirement that such consents be
signed by all members of the Board of committee.
ITEM 77Q(a)(xvii)
TRUST FOR GOVERNMENT CASH RESERVES
Amendment No. 2 to By-Laws
(Effective February 23, 1998)
Delete Sections 1, 2 and 3 of Article I, OFFICERS AND THEIR ELECTION,
and replace with:
Section 1. Officers. The Officers of the Trust shall be
a President, one or more Vice Presidents, a Treasurer, and
a Secretary. The Board of Trustees, in its discretion, may
also elect or appoint a Chairman of the Board of Trustees
(who must be a Trustee) and other Officers or agents,
including one or more Assistant Vice Presidents, one or
more Assistant Secretaries, and one or more Assistant
Treasurers. A Vice President, the Secretary or the
Treasurer may appoint an Assistant Vice President, an
Assistant Secretary or an Assistant Treasurer, respectively,
to serve until the next election of Officers. Two or more
offices may be held by a single person except the offices
of President and Vice President may not be held by the same
person concurrently. It shall not be necessary for any
Trustee or any Officer to be a holder of shares in any Series
or Class of the Trust.
Section 2. Election of Officers. The Officers shall be
elected annually by the Trustees. Each Officer shall hold
office for one year and until the election and
qualification of his successor, or until earlier resignation
or removal. The Chairman of the Board of Trustees,
if there is one, shall be elected annually by and from the
Trustees, and serve until a successor is so elected
and qualified, or until earlier resignation or removal.
Section 3. Resignations and Removals and Vacancies.
Any Officer of the Trust may resign at any time by
filing a written resignation with the Board of
Trustees (or Chairman of the Trustees, if there is one),
with the President, or with the Secretary. Any such
resignation shall take effect at the time specified
therein or, if no time is specified, at the time of receipt.
Unless otherwise specified therein, the acceptance of
such resignation shall not be necessary to make it
effective. Any Officer elected by the Board of
Trustees or whose appointment has been ratified by the Board
of Trustees may be removed with or without cause
at any time by a majority vote of all of the Trustees.
Any other employee of the Trust may be removed or
dismissed at any time by the President. Any vacancy
in any of the offices, whether by resignation, removal
or otherwise, may be filled for the unexpired portion of
the term by the President. A vacancy in the office of
Assistant Vice President may be filled by a Vice President;
in the office of Assistant Secretary by the Secretary; or
in the office of Assistant Treasurer by the Treasurer.
Any appointment to fill any vacancy shall serve subject
to ratification by the Board of Trustees at its next
regular meeting.
ITEM 77Q(a)(xviii)
TRUST FOR GOVERNMENT CASH RESERVES
Amendment No. 3 to By-Laws
(Effective February 27, 1998)
Delete Section 5 Proxies of Article IV Shareholders' Meetings, and
replace with the following:
Section 5. Proxies. Any shareholder entitled to vote at any
meeting of shareholders may vote either in person, by
telephone, by electronic means including facsimile, or by proxy, but no
proxy which is dated more than six months before the meeting named
therein shall be accepted unless otherwise provided in the proxy. Every
proxy shall be in writing, subscribed by the shareholder or his duly
authorized agent or be in such other form as may be permitted by law,
including documents conveyed by electronic transmission. Every proxy
shall be dated, but need not be sealed, witnessed or acknowledged. The
placing of a shareholder's name on a proxy or authorizing another to act
as the shareholder's agent, pursuant to telephone or electronically
transmitted instructions obtained in accordance with procedures
reasonably designed to verify that such instructions have been authorized
by such shareholder, shall constitute execution of a proxy by or on
behalf of such shareholder. Where Shares are held of record by more than
one person, any co-owner or co-fiduciary may execute the proxy or give
authority to an agent, unless the Secretary of the Trust is notified in
writing by any co-owner or co-fiduciary that the joinder of more than one
is to be required. All proxies shall be filed with and verified by the
Secretary or an Assistant Secretary of the Trust, or the person acting as
Secretary of the Meeting. Unless otherwise specifically limited by their
term, all proxies shall entitle the holders thereof to vote at any
adjournment of such meeting but shall not be valid after the final
adjournment of such meeting.
ITEM 77Q(a)(xix)
TRUST FOR GOVERNMENT CASH RESERVES
Amendment No. 4 to By-Laws
(Effective May 12, 1998)
Strike Section 3 - Place of Meeting of Article IV - Shareholders'
Meetings and replace it with the following:
Section 3. Place of Meeting. Meetings of the shareholders of the Trust
or a particular Series or Class shall be held at such place within or
without The Commonwealth of Massachusetts as may be fixed from time to
time by resolution of the Trustees.
Strike Section 6 - Place of Meeting of Article V - Trustees' Meetings and
replace it with the following:
Section 6. Place of Meeting. Meetings of the Trustees shall be held at
such place within or without The Commonwealth of Massachusetts as fixed
from time to time by resolution of the Trustees, or as the person or
persons requesting said meeting to be called may designate, but any
meeting may adjourn to any other place.
Form N-SAR
Sub-Item 77K: Changes in registrant's certifying accountant
The following summarizes the disclosure requirements for the
exhibit. Please consult
Form N-SAR, Form 8-K and Regulation S-K for a complete reading
of the requirements.
Sub-Item 77K of Form N-SAR requires a registrant to provide the
information called for by Item 4 of Form 8-K under the Securities
Exchange Act of 1934. Unless otherwise specified by Item 4 of
Form 8-K, or related to and necessary for a complete
understanding, the information should relate to events
occurring during the reporting period.
Item 4 of Form 8-K requires that if an independent
accountant, who was previously engage as the principal
accountant, resigns or is dismissed, a registrant must
provide the information required by Item 304(a)(1),
including compliance with Item 304(a)(3) of
Regulation S-K.
* * * *
The following exhibits are to be used for either a
6-month N-SAR or a 12-month N-SAR, as applicable.
The first paragraph of the exhibit discusses
the dismissal and subsequent resignation of the
original auditing firm and their auditing history
for the either the past two fiscal years or the
past six months, as applicable. The second paragraph
discusses the engagement of the new auditing firm and
their responsibility for providing auditing services
for the upcoming fiscal year end.
FOR FUNDS AT A SEMI
On May 19, 1999, Arthur Andersen LLP ("AA") resigned
as the Trust's independent auditors. This resignation
followed the Trust's May 19, 1999 dismissal of AA as
the independent auditors by action of the Trust's Board
of Trustees upon the recommendation of the Audit
Committee of the Board of Trustees. During the six month
period ending May 31, 1999 ( the "Period"), (i ) AA did
not issue any report on the Trust's financial
statements, (ii) there were no disagreements with AA on any matter
of accounting principles or practices, financial statement disclosure
or auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of AA, would have caused it to make reference
to the subject matter of the disagreements in connection
with its report on the financial statements for such period,
nd (iii) there were no "reportable events" of the kind
described in Item 304(a)(1)(v) of Regulation S-K under the
Securities Exchange Act of 1934, as amended.
On May 19, 1999, the Trust by action of its Board of
Trustees engaged Deloitte & Touche LLP ("D&T") as the
independent auditors for purposes of auditing the Trust's
financial statements for the fiscal year ending
November 30, 1999. During the Period, neither the
Trust, nor anyone on the Trust's behalf has consulted
D&T on items which (i) concerned the application
accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that
might be rendered on the Trust's financial statements or (ii)
concerned the subject of a disagreement ( as defined in
paragraph (a)(1)(iv) of Item 304 of Regulation S-K) or
reportable events ( as described in paragraph (a)(1)(v)
of said Item 304).
