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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 1998
GOVERNMENT TRUST PH-1
(Exact name of registrant as specified in its charter or other governing
instrument)
State or other jurisdiction of incorporation:
New York
Commission File Number:
0-19553
IRS Employer Identification No.:
13-6982194
c/o Chase Manhattan Bank
(formerly Chemical Bank)
Corporate Trustee Administration Department
450 West 33rd Street
New York, New York 10001
Registrant's telephone number, including area code : (212) 946- 8608
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
None.
Item 3. Bankruptcy or Receivership.
None.
Item 4. Changes in Registrant's Certifying Accountant.
No Change
Item 5. Other Events.
Semiannual Report to Holders pursuant to the Trust's Declaration of Trust
dated as of September 20, 1991. (Attached as Exhibit A) .
No other reportable events.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Not Applicable.
Exhibits
Semiannual Report to Holders attached hereto as Exhibit A .
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
thereunto duly authorized.
Government Trust G-1
Date : February 17, 1998
By:_________Dennis Kildea____________
Assistant Vice President
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Exhibit A
CHASE MANHATTAN BANK
450 West 33rd Street
New York, New York 10001
Trustee's Semiannual Report
To the Holders of
Government Trust PH-1 7.50% Current Coupon Certificates
(Republic of the Philippines FMS Refinancing)
and
Defense Security Assistance Agency
The Pentagon
Washington, DC 20301-2800
Attention of the Comptroller, DSAA
I. On February 17, 1998, the aggregate amount distributed to the Holders was
$4,664,450.00. The portions thereof allocable to principal and interest
payments on the Related Note(s) was $4,197,450.00 and to payments
from the Securities Trust was $467,000.00.
II. The aggregate initial Amount of Certificates issued by such Trust and
remaining outstanding after such distribution is $18,837,000.00.
III. The unpaid principal amount of the Related Note(s) following such
distribution is $18,837,440.18.
IV. The sum of the amount referred to in (I) above, plus the amount paid to
the Trustee in respect of the Trustee's fees and expenses was not less than
the sum of ninety percent (90%) of the amount required to have been paid by
the Borrower on the Related Note(s) on the immediately preceding Note
Payment Date plus the payment received by the Trustee from the related
Securities Trust in respect of such Certificate Payment Date.
No Payment Default has occurred and is continuing since our previous report.
To the best of my knowledge and belief, this Semiannual Report is complete
and accurate.
By: ___Dennis Kildea___
Assistant Vice President
Report dated as of February 17, 1998
(Tax ID No. 13-6982194)
