|
STATEMENT OF ASSETS AND
LIABILITIES
December 31, 1996
| Assets |
|
|
|
|
| Investments* at value: |
 |
|
|
|
|
Common stocks and convertible securities
 (cost
$272,202,110) |
$ |
463,871,301 |
|
|
|
Short-term investments
(cost
$20,501,642) |
|
20,501,642 |
$ |
484,372,943 |
|
| Cash |
|
|
|
122,264 |
| Dividends and interest receivable |
|
|
|
994,399 |
| Prepaid expenses |
|
|
|
1,126,414 |
|
| |
Total Assets |
|
|
|
486,616,020 |
| |
| |
|
|
|
|
|
| Liabilities |
|
|
|
|
| Investment securities purchased
|
|
|
|
373,597 |
Open option contracts at value
(proceeds
$181,356) |
|
|
|
66,875 |
| Accrued expenses |
|
|
|
1,586,558 |
|
| |
Total Liabilities |
|
|
|
2,027,030 |
|
| |
Net Assets
|
|
|
$ |
484,588,990 |
| |
| |
|
|
|
|
|
| Net
Assets |
|
|
|
|
Common Stock at par value $1.00
per share,
authorized
25,000,000 shares; issued and
outstanding
13,065,819 shares |
|
|
$ |
13,065,819 |
| Additional capital surplus |
|
|
|
278,707,997 |
| Undistributed net realized gain
on investments |
|
|
|
1,031,502 |
| Unrealized appreciation on investments
|
|
|
|
191,783,672 |
|
| |
Net Assets Applicable
to
Common
Stock |
|
|
$ |
484,588,990 |
|
| |
Net Asset Value
Per Share of
Common
Stock |
|
|
|
$37.09 |
|
* See schedule
of investments on pages 13 through 15.
The accompanying notes are an integral part of the financial statements.
|
|
