-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HQGeOEQoVkYjo1FB1WGVVOFExcOR52shsUfNd33+HxEioh9PncWQMxR0aEmfGyDo jYKpd8sbYBP3K2Mkfi4O/Q== 0000828990-97-000001.txt : 19970530 0000828990-97-000001.hdr.sgml : 19970530 ACCESSION NUMBER: 0000828990-97-000001 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 19970331 FILED AS OF DATE: 19970529 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HIGH YIELD PLUS FUND INC CENTRAL INDEX KEY: 0000828990 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-05468 FILM NUMBER: 97616210 BUSINESS ADDRESS: STREET 1: 199 WATER ST CITY: NEW YORK STATE: NY ZIP: 10292 BUSINESS PHONE: 2122141250 MAIL ADDRESS: STREET 1: ONE SEAPORT PLAZA CITY: NEW YORK STATE: NY ZIP: 10292 NSAR-B 1 N-SAR (3.0.A) PAGE 1 000 B000000 03/31/97 000 C000000 0000828990 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0.a 000 J000000 A 001 A000000 THE HIGH YIELD PLUS FUND, INC. 001 B000000 811-5468 001 C000000 2013677530 002 A000000 100 MULBERRY STREET, GATEWAY CTR 3, 9FL 002 B000000 NEWARK 002 C000000 NJ 002 D010000 07102 002 D020000 4077 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 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 10 008 A000001 WELLINGTON MANAGEMENT COMPANY, LLP 008 B000001 A 008 C000001 801-15908 008 D010001 BOSTON 008 D020001 MA 008 D030001 02109 010 A000001 PRUDENTIAL INVESTMENTS FUND MANAGEMENT LLC 010 B000001 811-31104 010 C010001 NEWARK 010 C020001 NJ 010 C030001 07102 010 C040001 4077 011 A000001 PRUDENTIAL SECURITIES INCORPORATED 011 B000001 8-27154 011 C010001 NEW YORK 011 C020001 NY 011 C030001 10292 012 A000001 STATE STREET BANK AND TRUST COMPANY PAGE 2 012 B000001 84-111111 012 C010001 NORTH QUINCY 012 C020001 MA 012 C030001 02171 013 A000001 PRICE WATERHOUSE, LLP 013 B010001 NEW YORK 013 B020001 NY 013 B030001 10036 015 A000001 STATE STREET BANK AND TRUST COMPANY 015 B000001 C 015 C010001 NORTH QUINCY 015 C020001 MA 015 C030001 02171 015 E010001 X 015 A000002 CITIBANK, N.A. 015 B000002 S 015 C010002 BUENOS AIRES 015 D010002 ARGENTINA 015 E040002 X 015 A000003 WESTPAC BANKING CORP. 015 B000003 S 015 C010003 SYDNEY 015 D010003 AUSTRALIA 015 E040003 X 015 A000004 GIROCREDIT & BANK AKTIENGESELLSCHAFT DER SPAR 015 B000004 S 015 C010004 VIENNA 015 D010004 AUSTRIA 015 E040004 X 015 A000005 STANDARD CHARTERED BANK 015 B000005 S 015 C010005 DHAKA 015 D010005 BANGLADESH 015 E040005 X 015 A000006 GENERALE BANK 015 B000006 S 015 C010006 BRUSSELS 015 D010006 BELGIUM 015 E040006 X 015 A000007 CITIBANK, N.A. 015 B000007 S 015 C010007 SAO PAULO 015 D010007 BRAZIL 015 E040007 X 015 A000008 CANADA TRUSTCO MORTGAGE COMPANY 015 B000008 S 015 C010008 TORONTO 015 D010008 CANADA 015 E040008 X 015 A000009 CITIBANK, N.A. - CHILE 015 B000009 S PAGE 3 015 C010009 SANTIAGO 015 D010009 CHILE 015 E040009 X 015 A000010 THE HONGKONG & SHANGHAI BANKING CORPORATION L 015 B000010 S 015 C010010 SHANGHAI 015 D010010 CHINA 015 E040010 X 015 A000011 CITITRUST COLUMBIA S.A. 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MCCORKINDALE TITLE TREASURER EX-27 2 HIGH YIELD PLUS
6 0000828990 THE HIGH YIELD PLUS FUND, INC. 001 THE HIGH YIELD PLUS FUND, INC. YEAR MAR-31-1997 MAR-31-1997 112,045,541 112,515,823 3,655,501 60,792 0 116,232,116 1,118,402 0 19,071,394 20,189,796 0 103,394,305 11,250,532 11,143,807 330,378 0 (8,152,645) 0 470,282 96,042,320 101,494 11,360,077 0 2,222,940 9,238,631 2,559,619 (1,353,218) 10,445,032 0 (9,238,631) (170,811) 0 0 0 915,455 1,951,045 501,189 (10,712,264) 0 0 480,973 1,183,903 2,222,940 95,946,000 8.44 0.82 0.12 (0.82) (0.02) 0.00 8.54 1.08 6,336,000 0.28
EX-99 3 HIGH YIELD PLUS February 25, 1997 Mr. Douglas McCorkindale, President First Financial Fund, Inc. The High Yield Plus Fund, Inc. Gateway Center Three 100 Mulberry Street Newark, New Jersey 07102-4072 Dear Mr. McCorkindale: This is to confirm that the client-auditor relationship between Deloitte & Touche llp and the following Prudential Mutual Funds has been terminated: First Financial Fund, Inc. The High Yield Plus Fund, Inc. Yours truly, DELOITTE & TOUCHE LLP New York, New York cc: Office of the Chief Accountant SECPS Letter File Securities and Exchange Commission Mail Stop 9-5 450 5th Street, N.W. Washington, D.C. 20549 EX-99 4 HIGH YIELD PLUS April 16, 1997 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 RE: Funds managed or administered by Prudential Mutual Fund Management LLC (the "Funds") Gentlemen: At meetings held between February 18 and 20, 1997, the Board of Directors of the Funds (see attached exhibit) approved the engagement of Price Waterhouse LLP as their independent auditors for their fiscal years ending after February 28, 1997 to replace the firm of Deloitte & Touche LLP effective March 1, 1997. The reports of Deloitte & Touche LLP on the Funds' financial statements for the past two fiscal years did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. In connection with the audits of the Funds' financial statements for each of the prior two fiscal years and in the subsequent interim period, there were no disagreements with Deloitte & Touche LLP on any matters of accounting principles or practices, financial statement disclosure, or auditing scope and procedures which, if not resolved to the satisfaction of Deloitte & Touche LLP, would have caused Deloitte & Touche LLP to make reference to the matter in their report. The Funds have requested Deloitte & Touche LLP to furnish them a letter addressed to the Commission stating whether they agree with the above statements. A copy of that letter, dated April 16, 1997 is attached hereto. Sincerely, Eugene S. Stark Grace Torres Treasurer Treasurer ESS/rr \Gen-SECLtrPW-4-15-97.doc Exhibit Board of Next Fund Director Fiscal Treasurer Meeting Date Year End The BlackRock Government 2/18/97 6/30/97 Eugene S. Income Trust Stark Global Utility Fund, Inc. 2/18/97 9/30/97 Grace Torres Prudential Allocation Fund 2/19/97 7/31/97 Grace Torres Prudential California 2/20/97 8/31/97 Eugene S. Municipal Fund Stark Prudential Distressed 2/19/97 11/30/9 Grace Securities Fund, Inc. 7 Torres Prudential Diversified 2/20/97 12/31/9 Eugene S. Bond Fund, Inc. 7 Stark Prudential Dryden Fund 2/19/97 9/30/97 Eugene S. Stark Prudential Equity Income 2/19/97 10/31/9 Grace Fund 7 Torres Prudential Europe Growth 2/21/97 4/30/97 Grace Fund, Inc. Torres Prudential Global Limited 2/19/97 10/31/9 Grace Maturity Fund, Inc. 7 Torres Prudential Government 2/20/97 2/28/98 Eugene S. Income Fund, Inc. Stark Prudential Institutional 2/21/97 3/31/97 Eugene S. Liquidity Portfolio, Inc. Stark Prudential Jennison Series 2/19/97 9/30/97 Eugene S. Fund, Inc. Stark Prudential MoneyMart 2/21/97 12/31/9 Grace Assets, Inc. 7 Torres Prudential Multi-Sector 2/19/97 4/30/97 Grace Fund, Inc. Torres Prudential Municipal Bond 2/20/97 4/30/97 Grace Fund Torres Prudential Municipal 2/20/97 8/31/97 Grace Series Fund Torres Prudential Pacific Growth 2/21/97 10/31/9 Eugene S. Fund, Inc. 7 Stark Prudential Special Money 2/21/97 6/30/97 Eugene S. Market Fund, Inc. Stark Prudential Structured 2/20/97 12/31/9 Eugene S. Maturity Fund, Inc. 7 Stark Prudential World Fund, 2/21/97 10/31/9 Grace Inc. 7 Torres The Global Total Return 2/19/97 12/31/9 Eugene S. Fund, Inc. 7 Stark The Target Portfolio Trust 2/18/97 12/31/9 Grace 7 Torres First Financial Fund, Inc. 2/18/97 3/31/97 Grace Torres The High Yield Plus Fund, 2/18/97 3/31/97 Grace Inc. Torres EX-99 5 HIGH YIELD PLUS E:\OSUNKWO\FUNDS\HYP\NSAR-77C.597 For the semi-annual period ended (a) 3/31/97 File number (c) 811-5468 SUB-ITEM 77C Submission of Matters to a Vote of Security Holders The Annual Meeting of Stockholders was held on October 30, 1996. At such meeting the shareholders approved the following proposals: 1) That Eugene C. Dorsey be elected as a Class I Director, and Douglas H. McCorkindale be elected as a Class II Director, to hold office until the 1998 and 1999 annual meetings of stockholders, respectively, and until their successors shall have been duly elected and shall have qualified. Affirmative Negative Withhold/ Votes Cast Votes Cast Abstain Eugene C. Dorsey 5,829,461 0 116,028 Douglas H. McCorkindale 5,829,869 0 115,621 2.) That the selection of Deloitte & Touche LLP as independent accountants for the Fund for the fiscal year ending March 31, 1997, conditioned upon the right of the Fund by vote of a majority of its outstanding voting securities at any meeting called for the purpose to terminate such employment forthwith without penalty be, and it hereby is, in all respects ratified. Affirmative Negative Withhold/ Votes Cast Votes Cast Abstain 5,834,322 42,466 68,702 EX-99 6 HIGH YIELD PLUS E:\DGARFIEL\FUNDS\HIYLDPLU\MISC\NSAR-77Q.597 For the semi-annual period ended 3/31/97 File number (c) 811-5468 SUB-ITEM 77Q2 Section 16(a) Beneficial Ownership Reporting Compliance For the fiscal year ended March 31, 1996, an initial statement of beneficial ownership of the Fund's shares on Form 3 was not filed on behalf of Douglas H. McCorkindale (Director, President and Treasurer). In addition, a Form 5 was not filed on Mr. McCorkindale's behalf to report the failure to file the Form 3. EX-99 7 HIGH YIELD PLUS May 21, 1997 To the Board of Directors of The High Yield Plus Fund, Inc. In planning and performing our audit of the financial statements of The High Yield Plus Fund, Inc. (the "Fund") for the year ended March 31, 1997, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and may not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operation may deteriorate. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of March 31, 1997. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP -----END PRIVACY-ENHANCED MESSAGE-----