| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BELLSOUTH CORP GLB | 204,062 | 218,338 |
| BANK ONE CORP SUBORDINATED GLB | 204,325 | 213,604 |
| HOUSEHOLD FINANCING CO GLB | 206,298 | 214,588 |
| CISCO SYSTEMS INC GLB | 206,272 | 228,222 |
| CANADIAN NATL RAILWAY | 228,221 | 237,762 |
| CITIGROUP SUBORDINATED GLB | 203,513 | 209,870 |
| DUKE ENERGY CORP SER D | 0 | 0 |
| DEERE & CO GLB | 213,997 | 232,218 |
| INTERNATIONAL BUSINESS | 247,140 | 267,118 |
| TRANSATLANTIC HOLDINGS | 205,397 | 209,778 |
| UNITED PARCEL SERVICE | 246,111 | 265,032 |
| MERRILL LYNCH & CO SER MTN | 201,138 | 205,620 |
| MORGAN STANLEY NOTES SER MTN | 201,219 | 208,360 |
| GENERAL ELEC CAP CORP | 204,007 | 213,898 |
| FIRST EAGLE | 860,995 | 969,689 |
| TEMPLETON GLOBAL BOND | 3,076,990 | 3,092,921 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| VANGUARD BROKERAGE SERVICES | 1,007,337 | 1,260,723 | |
| VANGUARD GNMA FUND | 411,010 | 425,808 | |
| VAN. INFLATION PROTECTED SEC. | 0 | 0 | |
| VAN. ASSET ALLOCATION FUND | 0 | 0 | |
| VANGUARD REIT INDEX FUND | 0 | 0 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| MERRILL LYNCH ACCRUED INTEREST | 53,064 | 0 | 0 |
| VANGUARD ACCRUED INTEREST | 49 | 0 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK FEES | 90 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MERRILL LYNCH INVESTMENT FEES | 150 | 150 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX | 4,556 |