February 26, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Rule 24f-2 Notice for
PaineWebber Equity Trust,
Growth Stock Series 16
Registration No. 33-54569
Pursuant to Rule 24f-2 promulgated under the
Investment Company Act of 1940, PaineWebber, Incorporated,
as sponsor of The PaineWebber Equity Trust, Growth Stock
Series 16 (the "Trust"), a unit investment trust which
elected to register an indefinite number of units in
accordance with Rule 24f-2, hereby submits the notice and
information required by Rule 24f-2.
(i) The fiscal year for which this notice is
filed: Fiscal year ended December 31, 1995.
(ii) The number of units which have been
registered under the Securities Act of 1933 other than
pursuant to Rule 24f-2 but which remain unsold at the
beginning of the above fiscal year equals: none.
The number of units registered during the above
fiscal year other than pursuant to Rule 24f-2 equals: none.
The number of units sold during the above fiscal
year equals: 473,223 of units.*
(iii) The number of units sold during the above
fiscal year in reliance upon registration pursuant to Rule
24f-2 equals 473,223 units.
By: PaineWebber Incorporated
/s/ ROBERT E. HOLLEY
Robert E. Holley
Senior Vice President
_______________________
*Actual aggregate sale price for which securities were sold
is $4,919,781.75.
Filing fee of $1,399.22 which is in respect of $4,919,781.75
amount of securities of the issuer, less aggregate sale
price of securities redeemed of $862,040.44, calculated in
the manner specified in section 6(b) of the Securities Act
of 1933, as provided in Rule 24f-2 (c).
<PAGE>
February 26, 1996
PaineWebber Incorporated
1200 Harbor Boulevard
Weehawken, New Jersey 07087
Dear Sirs:
We have served as counsel for PaineWebber
Incorporated as Depositor of The PaineWebber Equity Trust,
Growth Stock Series 16 (hereinafter referred to as the
"Trust") in connection with the offering of units of
fractional undivided interest in such Trust (hereinafter
referred to as the "Units").
We have examined instruments, documents, and
records which we have deemed relevant and necessary for the
basis of our opinion hereinafter expressed. In such
examination, we have assumed the following: (a) the
authenticity of original documents and genuineness of all
signatures; (b) the conformity to the originals of all
documents submitted to us as copies; and (c) the truth,
accuracy and completeness of the information,
representations and warranties contained in the records,
documents, instruments and certificates we have reviewed.
Based upon the foregoing, we are of the opinion
that the Units offered by the Depositor were legally issued
and are fully paid and non-assessable.
We hereby consent to the use of this opinion in
connection with the filing with the Securities and Exchange
Commission of a notice pursuant to Rule 24f-2 promulgated
under the Investment Act of 1940.
Very truly yours,
/s/ ORRICK, HERRINGTON & SUTCLIFFE
Orrick, Herrington & Sutcliffe
