Sub-Item 77C: Matters submitted to a vote of security holders
At Registrant's Annual Meeting of Shareholders held on January 21, 2000,
the following proposals were voted upon:
The proposal to replace two fundamental policies which restrict the
making of loans, with one policy which prohibits personal loans or loans
to persons who control the Company or who are under common control with
the Company passed, as 3,943,100 shares voted for, 341,151 shares voted
against, 214,290 shares abstaining and 678,342 shares were broker
non-votes.
The proposal to delete the fundamental policy that limits the
Company's investment in warrants to under 5% of its total assets and
under 2% of its assets in unlisted warrants passed, as 3,896,340 shares
voted for, 389,090 shares voted against, 213,111 abstaining and 678,342
shares were broker non-votes.
The proposal to delete the clause that limits investment in
securities issued by one issuer to under 10% of its outstanding voting
securities, and retain the balance of the fundamental policy which
limits the purchase of securities of companies which have less than
three years continuous operations to 5% of total assets passed, as
3,918,653 shares voted for, 358,747 shares voted against, 221,141
abstaining and 678,342 shares were broker non-votes.
The proposal to replace the fundamental policy that prohibits the
purchase or sale of real estate and interests in real estate limited
partnerships and securities issued by real estate investment trusts
with one which, while prohibiting direct investment in real estate,
allows investment in real estate-related securities passed, as
3,906,381 shares voted for, 368,634 shares voted against, 223,526
abstaining and 678,342 shares were broker non-votes.
The proposal to change the fundamental policy that prohibits
investment in oil, gas or other mineral exploration or development
programs to a non-fundamental policy that, while prohibiting direct
investment in such programs, allows the Company to invest in issuers
that engage in transactions involving such exploration or
development programs passed, as 3,927,493 shares voted for, 363,190
shares voted against, 207,858 shares abstaining and 678,342 shares
were broker non-votes.
The proposal to amend the Articles of Incorporation that would give
shareholders the right to tender their shares during the current
fiscal year did not pass, as 1,509,045 shares voted for, 2,627,874
shares voted against, 361,622 shares abstaining and 678,342 shares
were broker non-votes.
