-----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, Od74vHxYiBaU+L/zc/Yt9kjJLGZdlCqPUdYQ9+s8p66YzJ2jGLyxZ6Pu00JigMd9 Sc/X5fcwW5A+5cDDELB6qg== 0000921446-99-000074.txt : 19990316 0000921446-99-000074.hdr.sgml : 19990316 ACCESSION NUMBER: 0000921446-99-000074 CONFORMED SUBMISSION TYPE: NSAR-B CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GABELLI EQUITY TRUST INC CENTRAL INDEX KEY: 0000794685 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 222736509 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: SEC FILE NUMBER: 811-04700 FILM NUMBER: 00000000 BUSINESS ADDRESS: STREET 1: ONE CORP CENTER CITY: RYE STATE: NY ZIP: 10580 BUSINESS PHONE: 9149215070 NSAR-B 1 N-SAR (3.0) PAGE 1 000 B000000 12/31/98 000 C000000 794685 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0 000 J000000 A 001 A000000 THE GABELLI EQUITY TRUST INC. 001 B000000 811-4700 001 C000000 9149215100 002 A000000 ONE CORPORATE CENTER 002 B000000 RYE 002 C000000 NY 002 D010000 10580 002 D020000 1434 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 GABELLI FUNDS, INC. 008 B000001 A 008 C000001 801-37706 008 D010001 RYE 008 D020001 NY 008 D030001 10580 008 D040001 1434 010 A000001 FIRST DATA INVESTOR SERVICES GROUP, INC. 010 B000001 84-1764 010 C010001 BOSTON 010 C020001 MA 010 C030001 02109 012 A000001 STATE STREET BANK AND TRUST COMPANY 012 B000001 85-5003 012 C010001 BOSTON 012 C020001 MA 012 C030001 02110 013 A000001 PRICEWATERHOUSECOOPERS LLP PAGE 2 013 B010001 NEW YORK 013 B020001 NY 013 B030001 10036 014 A000001 GABELLI & COMPANY, INC. 014 B000001 8-21373 014 A000002 KEELEY INVESTMENT CORPORATION 014 B000002 8-20353 014 A000003 IFG NETWORK SECURITIES INC. 014 B000003 8-37937 015 A000001 BOSTON SAFE DEPOSIT AND TRUST COMPANY 015 B000001 C 015 C010001 BOSTON 015 C020001 MA 015 C030001 02106 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 17 019 C000000 GABELLIGRP 020 A000001 GABELLI & COMPANY, INC. 020 B000001 13-2885006 020 C000001 363 020 A000002 ALLEN & COMPANY 020 B000002 13-6176976 020 C000002 67 020 A000003 WARBURG 020 B000003 13-4933080 020 C000003 35 020 A000004 BEAR STEARNS & CO. 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ALPERT TITLE PRESIDENT/TREAS EX-27 2
6 0000794685 THE GABELLI EQUITY TRUST 1 12-MOS DEC-31-1998 JAN-01-1998 DEC-31-1998 844193648 1341215869 34084357 0 7369921 1382670147 28113046 0 2367379 30480425 135000000 720368463 106116347 104676383 55868 0 6820887 0 489944504 1352189722 14132465 7570881 0 14248140 7455206 128440199 (13195582) 122699853 0 7032311 120703357 0 0 0 1439964 141728878 0 0 81 1270637 12272654 0 14248140 1312540700 11.56 .07 1.09 .06 1.15 (0.04) 11.47 1.09 0 0
EX-99 3 To the Shareholders and Board of Directors of The Gabelli Equity Trust Inc. In planning and performing our audit of the financial statements of The Gabelli Equity Trust Inc. (the "Equity Trust") for the year ended December 31, 1998, we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, not to provide assurance on internal control. The management of the Equity Trust is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements for external purposes that are fairly presented in conformity with generally accepted accounting principles. Those controls include the safeguarding of assets against unauthorized acquisition, use or disposition. Because of inherent limitations in internal control, errors or fraud may occur and not be detected. Also, projection of any evaluation of internal control 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 internal control would not necessarily disclose all matters in internal control 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 one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud 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 internal control and its operation, including controls for safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 1998. This report is intended solely for the information and use of management and the Board of Directors of the Equity Trust and the Securities and Exchange Commission. PricewaterhouseCoopers LLP February 25, 1999 EX-99 4 The Gabelli Equity Trust Inc. 4th Quarter 1998 Section 10f-3 Transactions The following securities were purchased pursuant to Rule 10f-3 and all requirements of the Affiliated Underwriting Procedures of the Fund. A folder documenting such compliance for each transaction is available for inspection by Board Members. Trade Dates 12-09-98 Issue Infinity Brocasting Corp. Shares 3,000 Price $20.50 Amount $61,500 Spread Amount 0.82 Spread % 4.0% Fund's % of Issue 0.002% % of Issue for all Gavelli Funds 0.22% Broker Merrill Lynch & Co. Issues within 90 days 3 Reason (1).(2) The Purchases listed above meet the following requirements of 10f-3 ...Part of an issue registered under the Securities Act of 1933. ...Purchased at not more than the offering price. ...Offered pursuant to a firm commitment underwriting. ... The issuer has been in continuos operation for at least 3 years. All other requirements are presented in the table above. Reason Key (1) Does not exceed 125% of the mean offering spread of 3 comparable Issues underwritten in the last 90 days. (2) Does not exceed 110% of this underwriting spread of 3 comparable Issues underwritten in the last 90 days. Note: If 3 comparable issues are not available within 90 days, a one-year window is used. -----END PRIVACY-ENHANCED MESSAGE-----