 |
Annual Report 1996 |
|
STATEMENT OF ASSETS AND LIABILITIES |
|
|
December 31, 1996
|
| Assets |
| Investments* at value: |
 |
|
|
|
|
Non-controlled affiliate, Petroleum
&
Resources Corporation
(cost
$22,153,015) |
|
$ 39,808,558 |
|
|
|
Common stocks and convertible
securities
(cost $638,789,329) |
|
1,043,558,641 |
|
|
|
Short-term investments
(cost
$53,526,017) |
|
53,526,017 |
|
$1,136,893,216 |
|
| Cash |
|
|
|
99,486 |
| Receivables: |
|
|
|
|
|
Investment securities sold |
|
|
|
496,458 |
|
Dividends and interest |
|
|
|
2,248,998 |
| Prepaid expenses and other assets |
|
|
|
3,368,220 |
|
|
Total Assets |
|
|
|
1,143,106,378 |
|
|
|
|
|
|
|
| Liabilities |
| Investment securities purchased
|
|
|
|
1,931,489 |
Open option contracts at value
(proceeds
$ 543,020) |
|
|
|
518,750 |
| Accrued expenses |
|
|
|
1,895,743 |
|
|
Total Liabilities |
|
|
|
4,345,982 |
|
|
Net Assets
|
|
|
|
$1,138,760,396 |
|
|
|
|
|
|
|
| Net
Assets |
Common Stock at par value $1.00
per share,
authorized 75,000,000
shares;
issued and outstanding
48,036,528
shares |
|
|
|
$48,036,528 |
| Additional capital surplus |
|
|
|
661,729,190 |
| Undistributed net investment income |
|
|
|
2,173,294 |
Undistributed net realized gain
on investments
|
|
|
|
4,372,259 |
| Unrealized appreciation on investments
|
|
|
|
422,449,125 |
|
|
Net Assets Applicable
to Common Stock |
|
|
|
$1,138,760,396 |
|
|
Net Asset Value
Per Share of Common Stock |
|
|
|
$23.71 |
|
*See schedule
of investments on pages 11 through 15.
The accompanying notes are an integral part of the financial statements. |
|
|
