24F-2NT

                              









January 23, 1995



Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C.  20549

Re:  Rule 24f-2 Notice for
     MERRILL LYNCH GLOBAL UTILITY 
                     FUND, INC.
     File No. 33-37103
     
Dear Sirs:

In accordance with the provisions of Rule 24f-2
under the Investment Company Act of 1940, Merrill
Lynch Global Utility Fund, Inc. (the "Fund")
hereby files its Rule 24f-2 Notice (the "Notice").

1. The Notice is being filed for the Fiscal Year
    of the Fund ended November 30, 1994 (the
    "Fiscal Year").

2. No shares of common stock of the Fund which 
    had been registered under the Securities Act 
    of 1933 (the "Securities Act") other than 
    pursuant to Rule 24f-2 remained unsold at the 
    beginning of the Fiscal Year.
   
3. No shares of common stock were registered 
    under the Securities Act during the Fiscal Year 
    other than pursuant to Rule 24f-2.
   
4. 10,084,885 shares of common stock were sold
    during the Fiscal Year.*
   
_______________
*Of this amount, 1,418,075 Class A shares were
 sold at an aggregate price of $18,954,263,
 8,594,406 Class B shares were sold at an 
 aggregate price of $112,616,998, 36,927 Class C 
 shares were sold at an aggregate price of 
 $446,777 and 35,477 Class D shares were sold
 at an aggregate price of $443,803.  
 The aggregate sale price for all shares sold during
 the Fiscal Year was $132,461,841.  See
 paragraph 6 for the calculation of the aggregate 
 sale price of shares sold in reliance upon Rule 24f-2.

   



5. 10,084,885 shares of common stock were sold
    during the Fiscal Year in reliance upon 
    registration pursuant to Rule 24f-2.  Transmitted
    with the Notice is an opinion of Shereff, Friedman, 
    Hoffman & Goodman counsel for the Fund, 
    indicating that the securities the registration of 
    which this Notice makes definite in number were 
    legally issued, fully paid for and non-assessable.
   
6.  Since the aggregate sale price of securities
     sold during the Fiscal Year in reliance upon
     registration pursuant to Rule 24f-2 is less than 
     the aggregate redemption price of securities 
     redeemed during the Fiscal Year, no filing 
     fee is required in connection with the filing of
     this Notice.  The calculation is based follows:

   (i) Actual aggregate sale price for the
       10,084,885 shares of common stock
       sold during the Fiscal Year in reliance 
       upon registration pursuant to Rule 24f-2.     $132,461,841

reduced by

   (ii) Actual aggregate redemption price
        for the 19,965,755 shares of common
        stock redeemed during the Fiscal Year.*    $253,809,290

equals amount on which filing fee is based         $        -0-


_______________
*Of this amount, 3,085,387 were Class A shares
 which were redeemed at an aggregate price of
 $39,503,880, 16,864,631 were Class B shares 
 which were redeemed at an aggregate price of
 $214,110,349, 1 was a Class C share which 
 was redeemed at an aggregate price of $13 
 and 15,736 were Class D shares which were 
 redeemed at an aggregate price of $195,048. 
 The aggregate redemption price for all shares
 redeemed during the Fiscal Year was 
$253,809,290.





Please direct any questions relating to this
filing to Patrick D. Sweeney at Merrill Lynch
Asset Management, P.O. Box 9011, Princeton, N.J.
08543-9011, (609) 282-2023, or to Joel H.
Goldberg, Esq. at Shereff, Friedman, Hoffman &
Goodman, 919 Third Avenue, New York, New York
10022 (212) 891-9407.

Very truly yours,

MERRILL LYNCH GLOBAL UTILITY FUND, INC.


By /s/ Patrick D. Sweeney




   - - - - - - - - - - - - -
     Patrick D. Sweeney
      Secretary

EX-1

Merrill Lynch Global Utility Fund, Inc.
January 24, 1995
Page 2




 SHEREFF, FRIEDMAN, HOFFMAN 
               & GOODMAN, llp
              919 Third Avenue
       New York, New York  10022



(212) 758-9500


 January 24, 1995



Merrill Lynch Global Utility Fund, Inc.
P.O. Box 9011
Princeton, New Jersey  08543-9011

Dear Sirs:

          Merrill Lynch Global Utility Fund, 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, payable as prescribed by 
paragraph (c) of the Rule will be to make definite 
in number the number of shares sold by the 
Corporation during its fiscal year ended 
November 30, 1994 in reliance upon the Rule 
(the "Rule 24f-2 Shares").

          We have served as counsel to the 
Corporation since its inception and have
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 have received a 
Certificate of Good Standing dated January 24, 
1995 from 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 form of the Rule 24f-2 
Notice being filed by 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 
current and effective under the Securities Act of 
1933 at the time of sale, that the Rule 24f-2 Shares
were sold in numbers within the limits prescribed by 
the Charter of the Corporation, and that the 
Corporation received with respect to the Rule 24f-2 
Shares consideration in an amount of 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 the Rule 24f-2 Shares were legally issued and 
are fully paid and non-assessable.

          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 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 the State of Maryland, and where 
applicable, published cases, rules or regulations 
or regulatory bodies of that State.  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.

Very truly yours,



 /s/ Shereff, Friedman, Hoffman & Goodman, llp





Shereff, Friedman, Hoffman & Goodman, llp

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