| 900 King Street Suite 100 Rye Brook, NY 10573 | Tel 914.307.7020 Fax 914.307.4045 | ||
Lawrence S. Block Senior Vice President General Counsel |
May 2, 2008
BY ELECTRONIC MAIL
Accounting Group – Interpretations
Office of the Chief Accountant
U.S. Securities and Exchange Commission
100 F Street, N.E.; Mail Stop 7561
Washington, D.C. 20549–7561
Attn: Ms. Cathy Cole
E-mail: colec@sec.gov
Division of Corporation Finance
U.S. Securities and Exchange Commission
100 F Street, N.E.; Mail Stop 5546
Washington, D.C. 20549–5546
Attn: Mr. Kevin Woody
E-mail: woodyk@sec.gov
Re: World Monitor Trust III – Series J (SEC File No. 000–51651)
Dear Ms. Cole and Mr. Woody:
Reference is made to our letter dated April 30, 2008 concerning the method of accounting for organization and offering costs for World Monitor Trust III – Series J (“Series J”).
Further to that letter, Series J acknowledges that its inquiry was raised in the context of Statement of FAS 5, FASB Concept Statement No. 6, Staff Accounting Bulletin Concept 5D and the Investment Company Audit Guide. Series J did not ask the Commission, nor did the Staff provide any assurance, as to the applicability of FAS 133 or FAS 123R to the method of accounting for organization and offering costs and the reimbursement of those expenses.
Sincerely,
WORLD MONITOR TRUST III – SERIES J | ||
By: | Preferred Investment Solutions Corp., | |
its Managing Owner | ||
By: | /s/ Lawrence S. Block | |
Name: | Lawrence S. Block | |
Title: | Senior Vice President and General Counsel |
Office of the Chief Accountant | 2 | May 2, 2008 | ||
Division of Corporation Finance |
cc: | Preferred Investment Solutions Corp. |
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