UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1. Name and address of issuer: Composite Bond & Stock Fund, Inc.
601 West Main, Suite 300
Spokane, WA 99201
2. The name of each series or class of securities for which this Form is filed
Composite Bond & Stock Fund, Inc. Class A
Composite Bond & Stock Fund, Inc. Class B
3. Investment Company Act File Number: 811-123
Securities Act File Number: 2-10766
4(a).Last day of fiscal year for which this Form is filed: October 31, 1997
4(b).Check box if this Form is being filed late (i.e., more than 90 calendar
days after the end of the issuer's fiscal year). (See Instruction A.2)
[ ]
4(c).Check box if this is the last time the issuer will be filing this Form.
[ ]
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the
fiscal year pursuant to section 24(f): $103,530,594
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(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $ 57,392,226
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(iii) Aggregate price of securities redeemed or
repurchased during any prior fiscal year ending
no earlier than October 11, 1995 that were not
previously used to reduce registration fees
payable to the Commission: $ 0
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(iv) Total available redemption credits
[add items 5(ii) and 5(iii)]: -$ 57,392,226
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(v) Net sales - if Item 5(i) is greater than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $ 46,138,368
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(vi) Redemption credits available for use in future years
- if Item 5(i) is less than Item 5(iv)
[subtract Item 5(iv) from Item 5(i)]: $ 0
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(vii) Multiplier for determining registration fee
(See Instruction C.9): x 0.000295
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(viii)Registration fee due [multiply Item 5(v) by
Item 5(vii)] (enter "o" if no fee is due): = $ 13,611
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6. Prepaid Shares
If the response to Item 5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933 pursuant
to rule 24e-2 as in effect before [effective date of rescisison of rule
24e-2], then report the amount of securities (number of shares or other
units) deducted here:_______. If there is a number of shares or other units
that were registered pursuant to rule 24e-2 remaining unsold at the end of
the fiscal year for which this form is filed that are available for use by
the issuer in future fiscal years, then state that number here:________.
7. Interest due - if this Form is being filed more than 90 days after the end
of the issuer's fiscal year (see Instruction D):
+ $ 0
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8. Total of the amount of the registration fee due plus any
interest due [line 5(viii) plus line 7]: = $ 13,611
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9. Date the registration fee and any interest payment was sent
to the Commission's lockbox depository:
Method of Delivery:
[X] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title) /s/ Monte D. Calvin
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Monte D. Calvin, Vice President and Treasurer
Date 1/28/98
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