 |
Annual Report 1998 |
|
STATEMENT OF ASSETS AND LIABILITIES |
|
| Assets |
|
|
|
|
| Investments* at value: |
|
|
|
|
|
Common stocks and convertible
securities
(cost $755,117,210) |
|
$1,622,457,815 |
|
|
|
Non-controlled affiliate, Petroleum
&
Resources Corporation
(cost
$22,153,015) |
|
35,083,081 |
|
|
|
Short-term investments
(cost
$28,921,430) |
|
28,921,430 |
|
$1,686,462,326 |
| |
| Cash |
|
|
|
211,380 |
| Securities lending collateral |
|
|
|
192,627,954 |
| Dividends and interest receivable |
|
|
|
1,955,936 |
| Prepaid expenses and other assets |
|
|
|
5,107,212 |
|
| |
Total Assets |
|
|
|
1,886,364,808 |
| |
| |
|
|
|
|
|
| Liabilities |
|
|
|
|
Open written option contracts at
value
(proceeds $956,238) |
|
|
|
2,087,175 |
| Obligations to return securities
lending collateral |
|
|
|
192,627,954 |
| Accrued expenses |
|
|
|
3,569,343 |
|
| |
Total Liabilities |
|
|
|
198,284,472 |
|
| |
Net Assets
|
|
|
|
$1,688,080,336 |
| |
| |
|
|
|
|
|
| Net
Assets |
|
|
|
|
Common Stock at par value $1.00
per
share,
authorized 75,000,000 shares;
issued
and outstanding 51,876,651
shares
|
|
|
|
$51,876,651 |
| Additional capital surplus |
|
|
|
751,569,658 |
| Undistributed net investment income |
|
|
|
1,924,176 |
Undistributed net realized gain
on
investments
|
|
|
|
3,570,117 |
Unrealized appreciation on
 investments
|
|
|
|
879,139,734 |
|
| |
Net Assets Applicable
to
Common
Stock |
|
|
|
$1,688,080,336 |
|
| |
Net Asset Value
Per Share of
Common
Stock |
|
|
|
$32.54 |
|
*See
schedule of investments.
The accompanying notes are an integral part of the financial statements. |
|
|
