 |
Annual Report 1997 |
|
STATEMENT OF ASSETS AND LIABILITIES |
|
| Assets |
|
|
|
|
| Investments* at value: |
|
|
|
|
|
Common stocks and convertible
securities
(cost $708,084,958) |
|
$1,353,895,107 |
|
|
|
Non-controlled affiliate, Petroleum
&
Resources Corporation
(cost
$22,153,015) |
|
41,813,305 |
|
|
|
Short-term investments
(cost
$26,757,114) |
|
26,757,114 |
|
$1,422,465,526 |
| |
| Cash |
|
|
|
157,818 |
| Dividends and interest receivable |
|
|
|
2,189,994 |
| Prepaid expenses and other assets |
|
|
|
3,814,533 |
|
| |
Total Assets |
|
|
|
1,428,627,871 |
| |
| |
|
|
|
|
|
| Liabilities |
|
|
|
|
Open written option contracts at
value
(proceeds $800,160) |
|
|
|
1,091,563 |
| Accrued expenses |
|
|
|
3,365,883 |
|
| |
Total Liabilities |
|
|
|
4,457,446 |
|
| |
Net Assets
|
|
|
|
$1,424,170,425 |
| |
| |
|
|
|
|
|
| Net
Assets |
|
|
|
|
Common Stock at par value $1.00
per
share,
authorized 75,000,000 shares;
issued
and outstanding 49,949,239
shares
|
|
|
|
$49,949,239 |
| Additional capital surplus |
|
|
|
704,167,465 |
| Undistributed net investment income |
|
|
|
1,821,822 |
Undistributed net realized gain
on
investments
|
|
|
|
3,052,863 |
Unrealized appreciation on
 investments
|
|
|
|
665,179,036 |
|
| |
Net Assets Applicable
to
Common
Stock |
|
|
|
$1,424,170,425 |
|
| |
Net Asset Value
Per Share of
Common
Stock |
|
|
|
$28.51 |
|
*See schedule
of investments on pages 11 through 15.
The accompanying notes are an integral part of the financial statements. |
|
|
