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SIGNATURE TROY STATCZAR
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000845611
<NAME> THE GABELLI CONVERTIBLE SECURITIES FUND, INC.
<SERIES>
<NUMBER> 00
<NAME> THE GABELLI CONVERTIBLE SECURITIES FUND, INC.
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</TABLE>
To the Shareholders and Board of Directors of
The Gabelli Convertible Securities Fund, Inc.
In planning and performing our audit of the financial
Statements of The Gabelli Convertible Securities Fund,
Inc. (the "Fund")for the year ended December 31, 1998,
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 internal control.
The management of the Fund 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 fraud 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 internal control would not necessarily
disclose all matters in 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
misstatements caused by error or fraud 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
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1998.
This report is intended solely for the information and
use of management and the Board of Directors of the Fund
and the Securities and Exchange Commission.
PricewaterhouseCoopers LLP
February 25, 1999
