Form 24F-2
Annual Notice of Securities Sold Pursuant to Rule 24F-2
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
1. Name and address of issuer: North American Government Bond Fund, Inc.,
One South Street, Baltimore, MD 21202
2. The name of each series or class of securities for which this
Form is filed. (If the Form is being filed for all series and
classes of securities of the issuer, check the box but do not
list series or classes): [X]
3. Investment Company Act File Number: 811-7292
Securities Act File Number: 33-53598
4(a). Last day of fiscal year for which this Form is filed:
March 31, 1998
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.)
Note: If the Form is being filed late, interest must be paid on
the registration fee due.
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): $00.00
______
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $12,629,368.00
_______________
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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: $ 00.00*
_______________
* All shares repurchased or redeemed in fiscal
years ended March 31, 1996 and March 31, 1997
were prepaid and are included in Item 6.
(iv) Total available redemption credits
{add Items 5(ii) and 5(iii)}: -$12,629,368.00
_______________
(v) Net sales -- if Item 5(i) is greater than Item 5(iv)
{subtract Item 5(iv) from Item 5(i)}:$
(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)}: $(12,629,368.00)
_______________
(vii) Multiplier for determining registration fee
(See Instruction C.9): x .000295
_______________
(viii) Registration fee due {multiply Item 5(v) by Item
5(vii)} (enter "0" if no fee is due): =$ 00.00
_______________
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 October
11, 1997, then report the amount of securities (number of
shares or other units) deducted here: 1,147,935 shares @
$10,065,997.88. 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: 2,888,636 shares @
$23,598,884.06.
7. Interest due -- if this Form is being filed more than 90 days
after the end of the issuer's fiscal year (see Instruction D):
+$ 00.00
_______________
8. Total of the amount of the registration fee due plus any
interest due {line 5(viii) plus line 7}:
=$ 00.00
_______________
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9. Date the registration fee and any interest payment was sent to
the Commission's lockbox depository: N/A
Method of Delivery:
[ ] Wire Transfer
[ ] Mail or other means
SIGNATURES
This report has been signed below by the following person on behalf
of the issuer and in the capacities and on the dates indicated.
By (Signature and Title) */s/ Joseph A. Finelli
Joseph A. Finelli, Treasurer
*Please print the name and title of the signing officer below the
signature.
Date: June 24, 1998
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Schedule A
to 24f-2 Notice of
North American Government Bond Fund, Inc.
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
Value of
Number of Aggregate Front-end Shares Reinvested Shares Cost of Shares
Class Shares Sold Sales Price Sales Loads Reinvested Dividends Redeemed Redeemed
ISI 916,292 $7,908,494.00 $177,462.88 231,643 $1,980,041.00 1,469,520 $12,629,368.00
<FN>
Carry forward from prior years = 4,036,571 shares @ $33,664,881.94
1998 Sales = 1,147,935 shares @ $10,065,997.88
By offsetting the Fund's sales in fiscal year 1998 (1,147,935 shares @ $10,065,997.88) with credits for registrations of
prior net redemptions (4,036,571 shares @ $33,664,881.94), no shares were sold pursuant to Rule 24f-2 in the fiscal year
ended March 31, 1998. Accordingly, no fee is due.
</FN>
</TABLE>
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