| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| MORGAN STANLEY MTN | 97,311 | 117,009 |
| US WEST COMMUNICATIONS 7.125% 11/15/43 | 130,625 | 117,500 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CENTURY LINK INC | 20,475 | |
| INDYMAC BANCORP INC | 38,183 | |
| REYNOLDS AMERICAN INC | 44,543 | 49,990 |
| DOMINION CAP TR GRD 7.83% | ||
| APOLLO GLOBAL MGMT LLC | 24,103 | 31,610 |
| CARLYLE GROUP LP | 32,652 | 35,620 |
| SILVER BAY RLTY TR CORP | 3,902 | |
| TWO HARBORS INVT CORP | 62,505 | 46,400 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| ANTIQUES-ON LOAN | 2,734,710 | 2,808,950 | 2,808,950 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Art/antiques delivery costs | 1,684 | 1,684 | ||
| Bank Charges | 150 | 150 | ||
| Honorarium | 25,000 | 25,000 | ||
| Other Fees | 914 | 214 | 700 |