FROM:   Charles Felthaus,
               Chief of Accounting
               Philadelphia

TO:         Office of the Commissioner

RE:          PURE TRUSTS-URGENT!!!

DATE:     MAY 22, 1996

I have been approached by a practitioner seeking advice on the tax requirements of a pure trust. What should I do? The truth is far too scary and could well rock the foundations of this organization, which after all is a mere private corporation once set up to finance the uS government in the Philippines and Puerto Rico.

Please advise me, before I am deluged.

|back to land of make-believe|
|home|