 |
Annual Report 1998 |
|
Statements of Changes in Net Assets
|
|
| |
For the
Year Ended
|
| |
|
|
Dec. 31,
1998 |
|
Dec. 31,
1997 |
| From
Operations: |
|
|
|
| |
Net investment income |
$22,579,513 |
|
$20,784,601
|
| |
Net realized gain on investments
|
82,933,498 |
|
71,696,127 |
| |
Change in unrealized appreciation
on investments |
213,960,698 |
|
242,729,911 |
|
| |
|
Change in net assets resulting from operations
|
319,473,709 |
|
335,210,639 |
| |
|
|
|
|
|
| Dividends
to Stockholders From: |
|
|
|
| |
Net investment income |
(22,477,158) |
|
(21,136,073) |
| |
Net realized gain from investment
transactions |
(82,416,244) |
|
(73,015,523) |
|
| |
|
Decrease in net assets from distributions
|
(104,893,402) |
|
(94,151,596) |
| |
|
|
|
|
|
| From
Capital Share Transactions: |
|
|
|
| |
Value of common shares issued in
payment of optional distributions |
49,329,604 |
|
44,350,986 |
|
| |
|
Total Increase
in Net Assets |
263,909,911 |
|
285,410,029 |
| |
|
|
|
|
|
| Net
Assets: |
|
|
|
| |
Beginning of year |
1,424,170,425 |
|
1,138,760,396 |
|
| |
End of year (including undistributed
net investment income of $1,924,176 and $1,821,822, respectively) |
$1,688,080,336 |
|
$1,424,170,425 |
|
| |
|
|
|
|
|
| The accompanying
notes are an integral part of the financial statements. |
|
|
