<PAGE> PAGE 1
000 B000000 09/30/99
000 C000000 0000052423
000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000
I000000 3.0.a 000 J000000 A
001 A000000 AXP STOCK FUND, INC.
001 B000000 811-498
001 C000000 6126713800
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55440
002 D020000 0010
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
011 A000001 AMERICAN EXPRESS FINANCIAL ADVISORS INC
011 B000001 8-16791
011 C010001 MINNEAPOLIS
011 C020001 MN
011 C030001 55440
011 C040001 0010
012 A000001 AMERICAN EXPRESS FINANCIAL CORPORATION
012 B000001 84-456
012 C010001 MINNEAPOLIS
012 C020001 MN
012 C030001 55440
012 C040001 0010
013 A000001 KPMG LLP
013 B010001 MINNEAPOLIS
013 B020001 MN
013 B030001 55402
013 B040001 3900
015 A000001 AMERICAN EXPRESS TRUST COMPANY
<PAGE> PAGE 2
015 B000001 C
015 C010001 MINNEAPOLIS
015 C020001 MN
015 C030001 55402
015 C040001 2307
015 E010001 X
018 000000 N
019 A000000 Y
019 B000000 53
019 C000000 AMEXPFUNDS
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 C000001 0
022 D000001 0
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 0
023 D000000 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
<PAGE> PAGE 3
026 H000000 N
027 000000 Y
028 A010000 46427
028 A020000 0
028 A030000 0
028 A040000 65894
028 B010000 39484
028 B020000 1
028 B030000 0
028 B040000 66527
028 C010000 41930
028 C020000 10681
028 C030000 0
028 C040000 49271
028 D010000 36019
028 D020000 -1
028 D030000 0
028 D040000 51800
028 E010000 41012
028 E020000 -3
028 E030000 0
028 E040000 59220
028 F010000 36296
028 F020000 5764
028 F030000 0
028 F040000 47636
028 G010000 241168
028 G020000 16442
028 G030000 0
028 G040000 340348
028 H000000 118111
029 000000 Y
030 A000000 2982
030 B000000 5.00
030 C000000 0.50
031 A000000 1074
031 B000000 0
032 000000 0
033 000000 1908
034 000000 Y
035 000000 262
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
<PAGE> PAGE 4
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 100
043 000000 4769
044 000000 0
045 000000 N
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 100
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
<PAGE> PAGE 5
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
<PAGE> PAGE 6
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 17363
072 C000000 39498
072 D000000 0
072 E000000 0
072 F000000 0
072 G000000 1276
072 H000000 0
072 I000000 4322
072 J000000 0
072 K000000 491
072 L000000 0
072 M000000 13
072 N000000 244
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 10
072 S000000 0
072 T000000 4769
072 U000000 0
072 V000000 0
072 W000000 5609
072 X000000 16734
072 Y000000 129
072 Z000000 40256
072AA000000 510453
072BB000000 0
072CC010000 169648
072CC020000 0
072DD010000 28985
072DD020000 12024
072EE000000 340197
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
<PAGE> PAGE 7
074 L000000 0
074 M000000 4518630
074 N000000 4518630
074 O000000 0
074 P000000 48
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1652
074 S000000 0
074 T000000 4516930
074 U010000 118788
074 U020000 54110
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 251951
074 Y000000 0
075 A000000 0
075 B000000 4621055
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 Y
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 N/A
080 C000000 0
081 A000000 N
081 B000000 0
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
<PAGE> PAGE 8
084 B000000 0
085 A000000 N
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> AXP STOCK FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 4518629617
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4518629617
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1700068
<TOTAL-LIABILITIES> 1700068
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3117931192
<SHARES-COMMON-STOCK> 118788450
<SHARES-COMMON-PRIOR> 115111036
<ACCUMULATED-NII-CURRENT> 1406860
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 510200996
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 887390501
<NET-ASSETS> 3104847594
<DIVIDEND-INCOME> 62219041
<INTEREST-INCOME> 17362966
<OTHER-INCOME> 0
<EXPENSES-NET> 39326012
<NET-INVESTMENT-INCOME> 40255995
<REALIZED-GAINS-CURRENT> 510453388
<APPREC-INCREASE-CURRENT> 169648445
<NET-CHANGE-FROM-OPS> 720357828
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 28984586
<DISTRIBUTIONS-OF-GAINS> 231636044
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6892360
<NUMBER-OF-SHARES-REDEEMED> 12452760
<SHARES-REINVESTED> 9237814
<NET-CHANGE-IN-ASSETS> 448937036
<ACCUMULATED-NII-PRIOR> 2192100
<ACCUMULATED-GAINS-PRIOR> 339912246
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15617982
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39455339
<AVERAGE-NET-ASSETS> 3199975448
<PER-SHARE-NAV-BEGIN> 24.18
<PER-SHARE-NII> .24
<PER-SHARE-GAIN-APPREC> 4.00
<PER-SHARE-DIVIDEND> .24
<PER-SHARE-DISTRIBUTIONS> 2.04
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.14
<EXPENSE-RATIO> .82
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> AXP STOCK FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 4518629617
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4518629617
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1700068
<TOTAL-LIABILITIES> 1700068
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3117931192
<SHARES-COMMON-STOCK> 13424410
<SHARES-COMMON-PRIOR> 10708986
<ACCUMULATED-NII-CURRENT> 1406860
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 510200996
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 887390501
<NET-ASSETS> 348597349
<DIVIDEND-INCOME> 62219041
<INTEREST-INCOME> 17362966
<OTHER-INCOME> 0
<EXPENSES-NET> 39326012
<NET-INVESTMENT-INCOME> 40255995
<REALIZED-GAINS-CURRENT> 510453388
<APPREC-INCREASE-CURRENT> 169648445
<NET-CHANGE-FROM-OPS> 720357828
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 727808
<DISTRIBUTIONS-OF-GAINS> 22611501
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3642250
<NUMBER-OF-SHARES-REDEEMED> 1828161
<SHARES-REINVESTED> 901335
<NET-CHANGE-IN-ASSETS> 448937036
<ACCUMULATED-NII-PRIOR> 2192100
<ACCUMULATED-GAINS-PRIOR> 339912246
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1753512
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39455339
<AVERAGE-NET-ASSETS> 330140275
<PER-SHARE-NAV-BEGIN> 24.05
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> 3.96
<PER-SHARE-DIVIDEND> .06
<PER-SHARE-DISTRIBUTIONS> 2.04
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.97
<EXPENSE-RATIO> 1.59
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> AXP STOCK FUND CLASS Y
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 4518629617
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4518629617
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1700068
<TOTAL-LIABILITIES> 1700068
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3117931192
<SHARES-COMMON-STOCK> 40685460
<SHARES-COMMON-PRIOR> 42477041
<ACCUMULATED-NII-CURRENT> 1406860
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 510200996
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 887390501
<NET-ASSETS> 1063484606
<DIVIDEND-INCOME> 62219041
<INTEREST-INCOME> 17362966
<OTHER-INCOME> 0
<EXPENSES-NET> 39326012
<NET-INVESTMENT-INCOME> 40255995
<REALIZED-GAINS-CURRENT> 510453388
<APPREC-INCREASE-CURRENT> 169648445
<NET-CHANGE-FROM-OPS> 720357828
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11296077
<DISTRIBUTIONS-OF-GAINS> 85949857
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8518604
<NUMBER-OF-SHARES-REDEEMED> 13675361
<SHARES-REINVESTED> 3365176
<NET-CHANGE-IN-ASSETS> 448937036
<ACCUMULATED-NII-PRIOR> 2192100
<ACCUMULATED-GAINS-PRIOR> 339912246
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5349532
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39455339
<AVERAGE-NET-ASSETS> 1122813475
<PER-SHARE-NAV-BEGIN> 24.18
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> 4.00
<PER-SHARE-DIVIDEND> .27
<PER-SHARE-DISTRIBUTIONS> 2.04
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.14
<EXPENSE-RATIO> .72
</TABLE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STOCK FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 107,247,942.142 60.719% 98.755%
Withhold 1,352,511.190 .766% 1.245%
TOTAL 108,600,453.332 61.485% 100.000%
Arne H. Carlson
Affirmative 107,025,072.069 60.593% 98.549%
Withhold 1,575,381.263 .892% 1.451%
TOTAL 108,600,453.332 61.485% 100.000%
Lynne V. Cheney
Affirmative 107,207,695.837 60.696% 98.718%
Withhold 1,392,757.495 .789% 1.282%
TOTAL 108,600,453.332 61.485% 100.000%
William H. Dudley
Affirmative 107,247,785.885 60.719% 98.754%
Withhold 1,352,667.447 .766% 1.246%
TOTAL 108,600,453.332 61.485% 100.000%
David R. Hubers
Affirmative 107,270,543.947 60.732% 98.775%
Withhold 1,329,909.385 .753% 1.225%
TOTAL 108,600,453.332 61.485% 100.000%
Heinz F. Hutter
Affirmative 107,225,169.804 60.706% 98.734%
Withhold 1,375,283.528 .779% 1.266%
TOTAL 108,600,453.332 61.485% 100.000%
Anne P. Jones
Affirmative 107,238,764.839 60.714% 98.746%
Withhold 1,361,688.493 .771% 1.254%
TOTAL 108,600,453.332 61.485% 100.000%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STOCK FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 107,197,208.470 60.690% 98.708%
Withhold 1,403,244.862 .795% 1.292%
TOTAL 108,600,453.332 61.485% 100.000%
Alan K. Simpson
Affirmative 107,111,674.469 60.642% 98.629%
Withhold 1,488,778.863 .843% 1.371%
TOTAL 108,600,453.332 61.485% 100.000%
John R. Thomas
Affirmative 107,268,216.506 60.731% 98.773%
Withhold 1,332,236.826 .754% 1.227%
TOTAL 108,600,453.332 61.485% 100.000%
C. Angus Wurtele
Affirmative 107,220,105.251 60.703% 98.729%
Withhold 1,380,348.081 .782% 1.271%
TOTAL 108,600,453.332 61.485% 100.000%
2. Ratify the selection of independent auditors
Affirmative 106,695,380.570 60.406% 98.246%
Against 820,250.422 .465% .755%
Abstain 1,084,822.340 .614% .999%
TOTAL 108,600,453.332 61.485% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 93,920,445.494 53.174% 86.483%
Against 10,749,465.110 6.086% 9.898%
Abstain 3,930,542.728 2.225% 3.619%
TOTAL 108,600,453.332 61.485% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS STOCK FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
6. Changes to investment policies
6.1 Prohibited conflict of interest
Affirmative 100,276,929.413 56.772% 92.649%
Against 4,073,919.575 2.307% 3.764%
Abstain 3,881,991.344 2.198% 3.587%
TOTAL 108,232,840.332 61.277% 100.000%
Not Voting 367,613.000
6.4 Other investment companies
Affirmative 100,276,963.703 56.772% 92.649%
Against 4,016,304.540 2.274% 3.711%
Abstain 3,939,572.089 2.231% 3.640%
TOTAL 108,232,840.332 61.277% 100.000%
Not Voting 367,613.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS STOCK FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 176,629,688.117
VOTED SHARES 108,600,453.332
PERCENT VOTED 61.485%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STOCK FUND, INC. CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 6,029,869.685 47.273% 89.742%
Against 483,816.959 3.793% 7.201%
Abstain 205,414.704 1.610% 3.057%
TOTAL 6,719,101.348 52.676% 100.000%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STOCK FUND, INC. CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 12,755,525.409
VOTED SHARES 6,719,101.348
PERCENT VOTED 52.676%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STOCK FUND, INC. CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 68,114,448.221 50.666% 88.198%
Against 6,291,751.266 4.681% 8.147%
Abstain 2,823,102.787 2.099% 3.655%
TOTAL 77,229,302.274 57.446% 100.000%
Not Voting 367,613.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STOCK FUND, INC. CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 134,437,015.893
VOTED SHARES 77,596,915.274
PERCENT VOTED 57.720%
EXHIBIT 77D for Stock Fund, Inc.
At the Board of Directors meetings held on September 8-9, 1999, the following
investment policy was eliminated:
Under normal market conditions, the Fund does not intend to commit more than 5%
of its total assets to when-issued securities or forward commitments.
Independent Auditors' Report on Internal Accounting Control
The Board of Directors and Shareholders
AXP Stock Fund, Inc.:
In planning and performing our audit of the financial statements of AXP Stock
Fund, Inc. for the year ended September 30, 1999, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control.
The management of AXP Stock Fund, Inc. is responsible for establishing and
maintaining internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of controls. Generally, controls that are relevant to an audit pertain to
the entity's objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in the internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that errors or irregularities in amounts that would be material
in relation to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving the internal
control and its operation, including controls for safeguarding securities, that
we consider to be a material weakness as defined above.
This report is intended solely for the information and use of management, the
Board of Directors of AXP Stock Fund, Inc., and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone other than
these specified parties.
KPMG LLP
Minneapolis, Minnesota
November 5, 1999
