Conference nyoss1::market_investing

163.0. "Debentures (General)" by BTOVT::WOOSTER_C () Tue Apr 21 1992 07:35

	Debenture question:

	Background:  My wife was given a debenture for x,xxx.00 from
	her grandmother.  This is due the year 2009. We have nothing
	that states the original agreements (interest rate) for this
	so we are shooting in the dark here.  

	We received a statement showing we had gained y amount of interest
	and that it should be claimed as such in reporting to the IRS
	(which we did, though it hurt!!!).  

	The questions lies around this:  The last prospectus stated that the
	first interest payment for the debenture will be paid out in 
	May of 1993.  I'm wondering if we can turn the debenture over to a 
	broker for sale, and receive the interest along with the principle.
	Can this be done, or do we need to hold onto it until then??

	(Reason:  We would rather through the principle and interest into
	          mutual funds...something we have a better feel for).

	I'd thought I'd check with you folks prior to calling a broker.

	craig