 |
Annual Report 1996 |
|
Statements of Changes in Net Assets
|
|
|
For the
Year Ended
|
|
|
|
Dec. 31,
1996 |
|
Dec. 31,
1995 |
| From
Operations: |
|
|
|
|
Net investment income |
$24,237,044
|
|
$22,394,045 |
|
Net realized gain on investments
|
57,853,036 |
|
50,917,119 |
|
Change in unrealized appreciation
on investments |
113,359,376 |
|
155,573,255 |
|
|
|
Change in net assets resulting
from
operations |
195,449,456 |
|
228,884,419 |
|
|
|
|
|
|
| Dividends
to Stockholders From: |
|
|
|
|
Net investment income |
(24,006,069) |
|
(23,082,795) |
|
Net realized gain from investment
transactions |
(55,398,620) |
|
(50,604,589) |
|
|
|
Decrease in net assets
from
distributions |
(79,404,689) |
|
(73,687,384) |
|
|
|
|
|
|
| From
Capital Share Transactions: |
|
|
|
|
Value of common shares issued in
payment
of optional distributions |
36,484,715 |
|
32,736,279 |
|
|
|
Total Increase
in Net Assets |
152,529,482 |
|
187,933,314 |
|
|
|
|
|
|
| Net
Assets: |
|
|
|
|
Beginning of year |
986,230,914 |
|
798,297,600 |
|
|
End of year (including undistributed
netinvestment
income of $2,173,294
and $1,846,967,
respectively) |
$1,138,760,396 |
|
$ 986,230,914 |
|
|
| The accompanying
notes are an integral part of the financial statements. |
|
|
