| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PROFESSIONAL FEES | 1,800 | 0 | 0 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BELLSOUTH CORP NT | 0 | 0 |
| EMERSON ELECTRIC 5.25% | 58,145 | 56,213 |
| JOHNSON & JOHNSON NT | 87,905 | 83,494 |
| JP MORGAN CHASE 6.0% | 54,847 | 55,942 |
| PITNEY BOWES 3.652% | 9,222 | 8,755 |
| SBC COMM INC 5.625% | 0 | 0 |
| ROYAL BANK SCOTLAND 5.125% | 55,807 | 53,758 |
| HSBC FIN CORP 6.676% | 60,173 | 59,323 |
| AK STL CORP GTD 8.375% | 54,405 | 45,500 |
| ALLEGHNEY TECH | 52,602 | 51,151 |
| NAVISTAR INTL CORP 8.25% | 52,928 | 49,313 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OFFICE EXPENSE | 534 | 0 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT | 5,638 | 5,638 | 0 | 0 |