<SEC-DOCUMENT>0001398344-15-007894.txt : 20160205
<SEC-HEADER>0001398344-15-007894.hdr.sgml : 20160205
<ACCEPTANCE-DATETIME>20151125160023
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001398344-15-007894
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20151125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERZFELD CARIBBEAN BASIN FUND INC
		CENTRAL INDEX KEY:			0000880406
		IRS NUMBER:				650396889
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		3052711900

	MAIL ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CUBA FUND INC
		DATE OF NAME CHANGE:	19920929
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">3000 Two Logan Square</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; LINE-HEIGHT: 1.15">John M. Ford</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; LINE-HEIGHT: 1.15">fordjm@pepperlaw.com</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">November 24, 2015</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Via EDGAR Correspondence</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Division of Investment Management</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Office of Disclosure and Review</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">U.S. Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">100 F Street NE</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Washington, DC 20549</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Attn: Kathy Churko</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15; TEXT-INDENT: 0pt">1940 Act File No. 811-06445 and</div>

<div style="TEXT-ALIGN: left; FONT: 11pt/1.15 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt"><u>1933 Act File No. 333-202213</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Dear Ms. Churko:</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15; TEXT-INDENT: 72pt">On behalf of <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">The Herzfeld Caribbean Basin Fund, Inc.</font> (&#8220;Fund&#8221;), this letter is being filed with the U.S. Securities and Exchange Commission (&#8220;Commission&#8221;) via EDGAR Correspondence to respond to oral comments provided by you on October 27, 2015 in connection with the Commission staff&#8217;s (&#8220;Staff&#8221;) review of the annual report (&#8220;Form N-CSR&#8221;) of the Fund as of June 30, 2015 pursuant to Section 408 of the Sarbanes-Oxley Act of 2002.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15; TEXT-INDENT: 72pt">The Fund appreciates the opportunity to address the Staff&#8217;s comments. Set forth below are the Staff&#8217;s comments with respect to the Fund&#8217;s annual report in italicized text followed by the Fund&#8217;s response to each comment.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">1.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">The Geographic Allocation table on page 8 indicates that 53.97% of the Fund&#8217;s investments were in the U.S. Please confirm that the Fund invests at least 80% of its total assets in equity and equity-linked securities of &#8220;Caribbean Basin Companies,&#8221; as defined in the Fund&#8217;s prospectus.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15">Response: The Fund confirms that its holdings as disclosed in Form N-CSR meet such criteria. The Fund&#8217;s prospectus defines &#8220;Caribbean Basin Companies&#8221; as &#8220;companies, including U.S.-based companies, (i) whose securities are traded principally on a stock exchange in a Caribbean Basin Country, (ii) that have at least 50% of the value of their assets in a Caribbean Basin Country or (iii) that derive at least 50% of their total revenue from a Caribbean Basin Country.&#8221; The Fund&#8217;s prospectus further defines a &#8220;Caribbean Basin Country&#8221; as including, &#8220;among others, Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the former Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia, the United States and <font style="FONT-SIZE: 11pt">Venezuela.&#8221;</font></div>

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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Washington, D.C.</div>
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</font><font style="FONT-SIZE: 9pt">www.pepperlaw.com</font></div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Division of Investment Management</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Office of Disclosure and Review</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">U.S. Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">November 24, 2015</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">The Statement of Assets and Liabilities includes a line item for &#8220;Accrued investment advisor fee (Note 4)&#8221; in the amount of $153,986. Note 4 indicates that the fee is charged monthly. The amount of the payable appears to exceed the amount expected to be accrued for a single month. Please discuss the advisory fee accrual and payment process and indicate when the payable disclosed in the Statement of Assets and Liabilities was satisfied.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Response</u></font>: The fee is currently being accrued monthly and paid quarterly. The accrued investment adviser fee of $153,986 represents a payable to the Fund&#8217;s investment adviser for the three month period ended June 30, 2015. The accrued expense was satisfied in full on July 2, 2015.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">The Statement of Assets and Liabilities includes a line item for &#8220;Other payables.&#8221; Please confirm that this does not include amounts payable to the Fund&#8217;s officers and directors, which should be stated separately per Item 6.04 for Reg. S-X.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Response</u></font>: Confirmed. &#8220;Other payables&#8221; does not include amounts payable to the Fund&#8217;s officers and directors.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">The chart contained in Note 2 with respect to Security Valuation should be revised in future reports to include a meaningful classification of the securities within each valuation input hierarchy, such as equity securities by industry sector, geographical region or other appropriate classification.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">With respect to the chart contained in Note 2 describing qualitative information about Level 3 Fair Value Measurements, please discuss (i) the reason for presenting &#8220;Selected Value&#8221; rather than &#8220;Weighted Average Value&#8221; information in the final column of the table; and (ii) the methodology on which the 20% discount for lack of liquidity was selected based on the disclosed range of 1%-20%.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Division of Investment Management</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Office of Disclosure and Review</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">U.S. Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">November 24, 2015</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Page 3</div>
</div>

<div style="margin-left: 36pt; font-size: 11pt; font-family: 'Times New Roman', Times, serif; text-align: left; line-height: 1.15;">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15">Response: With respect to the first line item in the chart, Selected Value was used rather than Average Weighted Value (&#8220;AWV&#8221;), because of the inability to determine AWV due to limited transparency of the issuer and lack of timely reporting regarding the amount and price of private market offerings and transactions made by the issuer. With respect to the second line item, the Selected Value was based on a liquidity discount applied to a precedent market price and therefore AWV was not used. The liquidity discount was determined by the Fund&#8217;s Board based on the recommendation of the Fund&#8217;s investment adviser. The investment adviser recommended a discount based on a number of factors after the Fund was informed that the security was not trading on its primary market and no bid price was available. The investment adviser initially recommended, and the Board approved, a liquidity discount in 2014; however, as the security continued to trade thinly and sporadically, and there remained a lack of information from the issuer or its primary exchange, it was determined to apply a larger liquidity discount. The Fund&#8217;s investment adviser monitors the security and the Board reviews and ratifies the investment adviser&#8217;s pricing recommendation at each of its quarterly meeting.</div>

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<div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">6.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">The table of Directors and Officers of the Fund on page 28 does not disclose in the &#8220;Principal Occupation(s) During Past 5 Years&#8221; column that Ms. Gondor served as Secretary and Treasurer of the Fund during prior periods.</div>
</td>
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</table>
</div>

<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Response</u></font>: Ms. Gondor&#8217;s prior service as Secretary and Treasurer of the Fund were not her principal occupation during the period. As such, those positions are not included in the table. We note that the table does include a footnote indicating that Ms. Gondor previously served as an officer of the Fund.</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.15"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">*</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">*</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>*</font></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15; TEXT-INDENT: 72pt">We hope that this response addresses the Staff&#8217;s comments. This letter incorporates by reference the &#8220;Tandy Letter&#8221; signed by an officer of the Fund and attached hereto as Exhibit A.</div>

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<div style="LINE-HEIGHT: 1.15"><img src="fp0016913_1.jpg"></div>

<div style="LINE-HEIGHT: 1.15">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Division of Investment Management</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Office of Disclosure and Review</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">U.S. Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">November 24, 2015</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Page 4</div>
</div>

<div style="margin-left: 36pt; font-size: 11pt; font-family: 'Times New Roman', Times, serif; text-align: left; line-height: 1.15;">&#160;</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15; TEXT-INDENT: 72pt">If you have any further questions, please contact the undersigned at 215.981.4009.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Sincerely,</div>
</td>
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">/s/ John M. Ford</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.15">&#160;</div>
</td>
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">John M. Ford</div>
</td>
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Partner</div>
</td>
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<div>&#160;</div>

<div>
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.15">
<table id="1a351db9f401445fbeb3656ce6ea49d8" class="DSPFListTable" style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">cc:</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Mr. Thomas J. Herzfeld, President of The Herzfeld Caribbean Basin Fund, Inc.</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 1.15; TEXT-INDENT: 0pt">Ms. Reanna J.M. Lee, Treasurer of The Herzfeld Caribbean Basin Fund, Inc.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">EXHIBIT A</div>

<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">The Herzfeld Caribbean Basin Fund, Inc.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">119 Washington Avenue<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font>Suite 504<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> Miami Beach, FL 33139</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.15">November 24, 2015</div>

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</div>

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<tr>
<td style="WIDTH: 50.18%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Division of Investment Management</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Office of Disclosure and Review</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">U.S. Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">100 F Street, NE</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Washington, D.C. 20549<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> Attn: Kathy Churko</div>
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<td style="WIDTH: 49.82%; VERTICAL-ALIGN: top">&#160;</td>
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<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
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<div style="LINE-HEIGHT: 1.15">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.15">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">Re:</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">The Herzfeld Caribbean Basin Fund, Inc.</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15; TEXT-INDENT: 0pt">1940 Act File No. 811-06445</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>1933 Act File No. </u></font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>333-202213</u></font></div>

<br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Dear Ms. Churko:</div>

<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15; TEXT-INDENT: 72pt">In connection with the The Herzfeld Caribbean Basin Fund, Inc.&#8217;s (the &#8220;Fund) response to oral comments provided by you on October 27, 2015 in connection with the Commission staff&#8217;s (&#8220;Staff&#8221;) review of the annual report of the Fund as of June 30, 2015 pursuant to Section 408 of the Sarbanes-Oxley Act of 2002, the Fund is providing the following, as instructed:</div>

<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.15; MARGIN-RIGHT: 36pt">The Fund acknowledges that (i) it is responsible for the adequacy and accuracy of the disclosure in its financial statements, (ii) Commission staff comments or changes to disclosure in response to staff comments in its financial statements reviewed by the staff do not foreclose the Commission from taking any action with respect to the financial statements, and (iii) the Fund may not assert staff comments with respect to the financial statements as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Please direct any questions concerning this letter to John M. Ford, of Pepper Hamilton LLP, counsel to the Fund at 215.981.4009.</div>

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</div>

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<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Very truly yours,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="LINE-HEIGHT: 1.15">&#160;</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">/s/ Thomas J. Herzfeld</div>

<div style="LINE-HEIGHT: 1.15">&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">Mr. Thomas J. Herzfeld</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.15">President of The Herzfeld Caribbean Basin Fund, Inc.</div>
</td>
</tr>
</table>

<div style="LINE-HEIGHT: 1.15"><br style="LINE-HEIGHT: 1.15">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.15">
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<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">cc:</td>
<td style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">Ms. Reanna J.M. Lee, Treasurer of The Herzfeld Caribbean Basin Fund, Inc.</td>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 1.15; TEXT-INDENT: 0pt">John M. Ford, Esq.</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
