Exhibit 1(c)


                     MERRILL LYNCH GLOBAL UTILITY FUND, INC.
         ARTICLES SUPPLEMENTARY TO ARTICLES OF INCORPORATION INCREASING
               THE AUTHORIZED CAPITAL STOCK OF THE CORPORATION AND
                 CREATING TWO ADDITIONAL CLASSES OF COMMON STOCK

      MERRILL LYNCH GLOBAL UTILITY FUND, INC., a Maryland corporation having its
principal Maryland office c/o The Corporation Trust Incorporated, 32 South
Street, Baltimore, Maryland 21202 (hereinafter called the "Corporation"), hereby
certifies to the State Department of Assessments and Taxation, that:

      First: The Corporation is registered as an open-end investment company
under the Investment Company Act of 1940, as amended, with authority to issue
Two Hundred Million (200,000,000) shares of capital stock. The Corporation has
two classes of capital stock consisting of One Hundred Million (100,000,000)
shares of Class A Common Stock and One Hundred Million (100,000,000) shares of
Class B Common Stock. All shares of all classes and series of the Corporation's
capital stock have a par value of Ten Cents ($.10) per share and an aggregate
par value of Twenty Million Dollars ($20,000,000.00).

      Second: The Board of Directors of the Corporation, acting in accordance
with Section 2-105(c) of the Maryland Corporations and Associations Code, hereby
increases the total number of authorized shares of Class B Common Stock of the
Corporation by Two Hundred Million (200,000,000) shares.

      Third: After this increase in the number of authorized shares of capital
stock of the Corporation, the Corporation will have authority to issue Four
Hundred Million (400.000.000) shares of capital stock and the capital stock will
consist of One Hundred Million (100,000,000) shares of Class A Common Stock and
Three Hundred Million (300,000,000) shares of Class B Common Stock.

      Fourth: After this increase in the number of authorized shares of capital
stock of the Corporation, all shares of all classes and series of the
Corporation's capital stock will have a par value of Ten Cents ($.10) per share
and an aggregate par value of Forty Million Dollars ($40,000,000.00).

      Fifth: Pursuant to authority expressly vested in the Board of Directors of
the Corporation by its charter, the Board of Directors has reclassified One
Hundred Million (100,000.000) authorized and unissued shares of the Class B
Common Stock of the Corporation as Class C Common Stock of the par value of Ten
Cents ($.10) per share and of the aggregate par value of Ten Million Dollars
($10,000,000.00).

      Sixth: The preferences, designations, conversion or other rights, voting
powers, restrictions. limitations as to dividends, qualifications or terms or
conditions of redemption of Class C Common Stock are as follows:

      The Class C Common Stock of the Corporation shall represent the same
interest in the Corporation and have identical preferences, designations,
conversion or other rights, voting powers. restrictions, limitations as to
dividends, qualifications, or terms or conditions of



redemption as the Class B Common Stock as of the date of these Articles
Supplementary, except as otherwise set forth in the Corporation's charter and
further except that:

      (i) Expenses related to the distribution of the Class C Common Stock shall
be borne solely by such class and such class shall have exclusive voting rights
with respect to matters relating to the expenses being borne solely by such
class;

      (ii) Such distribution expenses borne solely by Class C Common Stock shall
be appropriately reflected (in the manner determined by the Board of Directors)
in the net asset value, dividends, distribution and liquidation rights of the
shares of such class; and

      (iii) Class C Common Stock shall not be reclassified into Class D shares.

      Seventh: Pursuant to authority expressly vested in the Board of Directors
of the Corporation by its charter, the Board of Directors has reclassified One
Hundred Million (100,000,000) authorized and unissued shares of the Class B
Common Stock of the Corporation as Class D Common Stock of the par value of Ten
Cents ($.10) per share and of the aggregate par value of Ten Million Dollars
($10,000,000.00).

      Eighth: The preferences, designations, conversion or other rights, voting
powers, restrictions, limitations as to dividends, qualifications or terms or
conditions of redemption of Class D Common Stock are as follows:

      The Class D Common Stock of the Corporation shall represent the same
interest in the Corporation and have identical preferences, designations,
conversion or other rights, voting powers, restrictions, limitations as to
dividends, qualifications, or terms or conditions of redemption as the Class B
Common Stock as of the date of these Articles Supplementary, except as otherwise
set forth in the Corporation's charter and further except that:

      (i) Expenses related to the distribution of the Class D Common Stock shall
be borne solely by such class and such class shall have exclusive voting rights
with respect to matters relating to the expenses being borne solely by such
class; and

      (ii) Such distribution expenses borne solely by Class D Common Stock shall
be appropriately reflected (in the manner determined by the Board of Directors)
in the net asset value, dividends, distribution and liquidation rights of the
shares of such class.


                                       2



      IN WITNESS WHEREOF, MERRILL LYNCH GLOBAL UTILITY FUND, INC. has caused
these Articles Supplementary to be signed in its name and on its behalf by its
President and attested by its Secretary on October 18, 1994.

                                         MERRILL LYNCH GLOBAL UTILITY
                                         FUND, INC.


                                         By:    /s/ Arthur Zeikel
                                             ------------------------
                                             Arthur Zeikel, President

Attest:

   /s/  Gerald M. Richard
-----------------------------
Gerald M. Richard, Treasurer

      THE UNDERSIGNED, President of MERRILL LYNCH GLOBAL UTILITY FUND, INC., who
executed on behalf of said Corporation the foregoing Articles Supplementary, of
which this certificate is made a part, hereby acknowledges, in the name and on
behalf of said Corporation, the foregoing Articles Supplementary to be the
corporate act of said Corporation and further certifies that, to the best of his
knowledge, information and belief, the matters and facts set forth therein with
respect to the authorization and approval thereof are true in all material
respects, and that this statement is made under the penalties for perjury.



                                                /s/  Arthur Zeikel
                                             ------------------------
                                             Arthur Zeikel, President


                                       3