July 26, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: Rule 24f-2 Notice for
T. Rowe Price Personal Strategy Funds, Inc.
100 East Pratt Street
Baltimore, Maryland 21202
File Number 33-53675
Gentlemen:
In accordance with the provisions of Rule 24f-2, the T. Rowe Price
Personal Strategy Funds, Inc. hereby files its Rule 24f-2 Notice on behalf of
its T. Rowe Price Personal Strategy Balanced Fund ("Balanced Fund"), T. Rowe
Price Personal Strategy Growth Fund ("Growth Fund") and T. Rowe Price Personal
Strategy Income Fund ("Income Fund").
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This "Rule 24f-2 Notice" is being filed for the fiscal year beginning
June 30, 1994 and ending May 31, 1995 ("Fiscal Year") for the Balanced, Growth
and Income Funds.
1,254,088, 1,032,202 and 1,930,215 shares of common stock of the
Balanced, Growth and Income Funds, respectively, were sold during the Fiscal
Year.
1,254,088, 1,032,202 and 1,930,215 shares of common stock of the
Balanced, Growth and Income Funds, respectively, were sold during the Fiscal
Year in reliance upon the Declaration of the Funds of an indefinite amount of
securities under Rule 24f-2 ("24f-2 Declaration").
Attached to this Rule 24f-2 Notice, and made a part hereof, is an
opinion of counsel indicating that the securities, the registration of
which the Notice makes definite in number, were legally issued, fully
paid, and non-assessable.
In accordance with subsection (c) of Rule 24f-2, the registration fees in
the amounts of $4,113.40, $3,311.92 and $6,422.80 for the Balanced, Growth and
Income Funds, respectively, have been forwarded to Mellon Bank, Pittsburgh,
Pennsylvania. The fee computations are based upon the actual aggregate sale
price for which such securities were sold during the Fiscal Year, reduced by
the difference between:
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(1) The actual aggregate redemption price of the shares
redeemed by the Fund during the Fiscal Year, and
(2) The actual aggregate redemption price of such
redeemed shares previously applied by the Fund
pursuant to Rule 24e-2(a) in filings made pursuant
to Section 24(e)(1) of the Investment Company Act of
1940.
Balanced Growth
Fund Fund
Aggregate Sale Price for
Shares Sold During Fiscal
Year in Reliance Upon
the 24f-2 Declaration $12,751,474 $10,674,168
Reduced by the Difference Between
(1) Aggregate Redemption
Price of Shares
Redeemed During the
Fiscal Year $ 822,622 $ 1,069,601
and,
(2) Aggregate Redemption
Price of Redeemed Shares
Previously Applied by Fund
Pursuant to Rule 24e-2(a)
Filings Made Pursuant to
Section 24(e)(1) of
Investment Company
Act of 1940 $ - 0 - $ - 0 -
Equals $11,928,852 $9,604,567
<PAGE>
(1) The actual aggregate redemption price of the shares
redeemed by the Fund during the Fiscal Year, and
(2) The actual aggregate redemption price of such
redeemed shares previously applied by the Fund
pursuant to Rule 24e-2(a) in filings made pursuant
to Section 24(e)(1) of the Investment Company Act of
1940.
Income
Fund
Aggregate Sale Price for
Shares Sold During Fiscal
Year in Reliance Upon
the 24f-2 Declaration $19,249,017
Reduced by the Difference Between
(1) Aggregate Redemption
Price of Shares
Redeemed During the
Fiscal Year $ 622,902
and,
(2) Aggregate Redemption
Price of Redeemed Shares
Previously Applied by Fund
Pursuant to Rule 24e-2(a)
Filings Made Pursuant to
Section 24(e)(1) of
Investment Company
Act of 1940 $ - 0 -
Equals $18,626,115
Any questions regarding the matter should be addressed to Henry H.
Hopkins, Esquire at the above address.
Very truly yours,
/s/ CARMEN F. DEYESU
July 26, 1995
T. Rowe Price Personal Strategy Funds, Inc.
100 East Pratt Street
Baltimore, Maryland 21202
Dear Sirs:
T. Rowe Price Personal Strategy Funds, Inc., a Maryland corporation (the
"Corporation"), is filing with the Securities and Exchange Commission a Rule
24f-2 Notice containing the information specified in paragraph (b)(1) of
Rule 24f-2 under the Investment Company Act of 1940 (the "Rule"). The effect
of the Rule 24f-2 Notice, when accompanied by this Opinion and by the filing
fee, if any, payable as prescribed by paragraph (c) of the Rule will be to
make definite the number of shares sold by the Corporation during the fiscal
year ending May 31, 1995 in reliance upon the Rule, if any (the "Rule 24f-2
Shares").
We have, as counsel, participated in various corporate and other
proceedings relating to the Corporation and to the Rule 24f-2 Shares. We have
examined copies, either certified or otherwise proven to our satisfaction to
be genuine, of its Charter and By-Laws, as currently in effect, and a
certificate dated July 18, 1995 issued by the Department of Assessments and
Taxation of the State of Maryland certifying the existence and good standing
of the Corporation. We have also reviewed the Corporation's Registration
Statement on Form N-1A and the form of the Rule 24f-2 Notice being filed by
the Corporation. We are generally familiar with the corporate affairs of the
Corporation.
The Corporation has advised us that the Rule 24f-2 Shares were sold in
the manner contemplated by the prospectus of the Corporation that was current
and effective under the Securities Act of 1933 at the time of sale, and that
the Rule 24f-2 Shares were sold in numbers within the limits prescribed by the
Charter of the Corporation for a consideration not less than the par value
thereof as required by the laws of Maryland and not less than the net asset
value thereof as required by the Investment Company Act of 1940.
Based upon the foregoing, it is our opinion that:
1. The Corporation has been duly organized and is legally
existing under the laws of the State of Maryland.
2. The Corporation is authorized to issue one billion (1,000,000,000)
shares of Capital Stock, par value one hundredth of one cent ($.0001) per
share. Under Maryland law, (a) the number of authorized shares may be
increased or decreased by action of the Board of Directors and (b) shares
which were issued and which have subsequently been redeemed by the Corporation
are, by virtue of such redemption, restored to the status of authorized and
unissued shares.
3. The Rule 24f-2 Shares were legally issued and are fully paid and
non-assessable.
We hereby consent to the filing of this Opinion with the Securities and
Exchange Commission together with the Rule 24f-2 Notice of the Corporation,
and to the filing of this Opinion under the securities laws of any state.
We are members of the Bar of the State of New York and do not hold
ourselves out as being conversant with the laws of any jurisdiction other than
those of the United States of America and the State of New York. We note that
we are not licensed to practice law in the State of Maryland, and to the
extent that any opinion expressed herein involves the law of Maryland, such
opinion should be understood to be based solely upon our review of the
documents referred to above, the published statutes of that State and, where
applicable, published cases, rules or regulations of regulatory bodies of that
State.
Very truly yours,
Shereff, Friedman, Hoffman & Goodman, LLP
