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November 20, 1995
Securities and Exchange Commission
Attention: Document Control - EDGAR
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
Re: Rule 24f-2 Notice for
IDS Progressive Fund, Inc.
SEC File No. 2-30059/811-1714
Commissioners:
[i] In accordance with the provisions of Rule
24f-2, IDS Progressive Fund, Inc. hereby
files its Rule 24f-2 Notice for the fiscal
year ended September 30, 1995 ("Fiscal Year").
[ii] Amount of securities registered other than
under 24f-2 which were unsold at the beginning
of the fiscal year.* $252,593,489
[iii] Amount of securities registered during the
fiscal year other than under 24f-2.** $ 0
[iv] Amount of securities sold during the fiscal
year.*** $ 19,707,749
[v] Amount of securities sold pursuant to 24f-2. $ 0
[vi] Fee $0 x 0.0003448 $ 0.00
* 31,812,782 shares x $7.94 on November 16, 1995
** 0 shares x $7.94 on November 16, 1995
*** Sales of $61,038,373 minus redemptions of $41,330,624
Enclosed please find an opinion of counsel.
If there are any questions, please contact the undersigned.
Very truly yours,
IDS PROGRESSIVE FUND, INC.
Leslie L. Ogg
Vice President, General Counsel and Secretary
LLO/dhg
Enclosures
Exhibit Index
(b) (10) Opinion of Counsel
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November 20, 1995
IDS Progressive Fund, Inc.
IDS Tower 10
Minneapolis, Minnesota 55440-0010
Gentlemen:
I have examined the Articles of Incorporation and the By-Laws of
the Company and all necessary certificates, permits, minute books,
documents and records of the Company, and the applicable statutes
of the State of Minnesota, and it is my opinion:
(a) That the Company is a corporation duly organized and existing
under the laws of the State of Minnesota with an authorized
capital stock of 10,000,000,000 shares, all of $.01 par value,
that such shares may be issued as full or fractional shares
and that on Sept. 30, 1995, 45,144,680 shares were issued and
outstanding;
(b) That all such authorized shares are, under the laws of the
State of Minnesota, redeemable as provided in the Articles of
Incorporation of the Company and upon redemption shall have
the status of authorized and unissued shares;
(c) That the Company registered on November 24, 1992, an
indefinite amount of shares pursuant to Rule 24f-2 of the
Investment Company Act of 1940, and is herewith filing a 24f-2
Notice covering the shares sold during its Fiscal Period ended
September 30, 1995; and
(d) That shares which were sold at not less than their par value
and in accordance with applicable federal and state securities
laws were legally issued, fully paid and non-assessable.
I hereby consent that the foregoing opinion may be used in
connection with the Rule 24f-2 Notice.
Very truly yours,
Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota 55402-3268
LLO/dhg
