UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-06179
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FLAHERTY & CRUMRINE PREFERRED INCOME FUND INCORPORATED
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(Exact name of registrant as specified in charter)
301 E. Colorado Boulevard, Suite 720
PASADENA, CA 91101
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(Address of principal executive offices) (Zip code)
Donald F. Crumrine
Flaherty & Crumrine Inc.
301 E. Colorado Boulevard, Suite 720
PASADENA, CA 91101
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(Name and address of agent for service)
Registrant's telephone number, including area code: 626-795-7300
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Date of fiscal year end: NOVEMBER 30
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Date of reporting period: JULY 1, 2003 - JUNE 30, 2004
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Form N-PX is to be used by a registered management investment company, other
than a small business investment company registered on Form N-5 (ss.ss. 239.24
and 274.5 of this chapter), to file reports with the Commission, not later than
August 31 of each year, containing the registrant's proxy voting record for the
most recent twelve-month period ended June 30, pursuant to section 30 of the
Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4).
The Commission may use the information provided on Form N-PX in its regulatory,
disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-PX, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-PX unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
PROXY VOTING RECORD
FOR PERIOD JULY 1, 2003 TO JUNE 30, 2004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811 - 06179
Exact name of registrant as specified in charter: Flaherty & Crumrine Preferred Income Fund Incorporated
Address of principal executive offices: 301 E. Colorado Boulevard, Suite 720, Pasadena, California 91101
Name and address of agent for service: Donald F. Crumrine, Flaherty & Crumrine Preferred Income Fund
Incorporated, 301 E. Colorado Boulevard, Suite 720, Pasadena,
California 91101
Registrant's telephone number, including area code: 626 - 795 - 7300
Date of fiscal year end: November 30, 2004
Date of reporting period: Twelve Months ended June 30, 2004
ITEM 1. PROXY VOTING RECORD
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Carolina Power & Light Company CPWLP 144141405 12-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve directors slate Issuer No (1) NA NA
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Central Illinois Light Company CILTM 153645882 27-Apr-04
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MATTER VOTED PROPOSED BY VOTE CAST VOTE FOR OR AGAINST VOTE FOR OR AGAINST
Approve directors slate Issuer No (1) PROPOSAL MANAGEMENT
NA NA
THURSDAY, AUGUST 05, 2004 PAGE 1 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Central Illinois Light Company CILTL 153645304 27-Apr-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve directors slate Issuer No (1) NA NA
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Connecticut Light and Power Company, The CNTHP 207597774 25-Nov-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Remove 20% limit on unsec.
Debt; receive 1% fee Issuer Yes Against Against
Temp. waiver of 10% S/T
debt limit Issuer Yes Against Against
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Connecticut Light and Power Company, The CNTHO 207597782 25-Nov-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Remove 20% limit on unsec.
Debt; receive 1% fee Issuer Yes Against Against
Temp. waiver of 10% S/T
debt limit Issuer Yes Against Against
THURSDAY, AUGUST 05, 2004 PAGE 2 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Connecticut Light and Power Company, The CNLPL 207597709 25-Nov-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Remove 20% limit on unsec.
Debt; receive 1% fee Issuer Yes Against Against
Temp. waiver of 10% S/T
debt limit Issuer Yes Against Against
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Conseco, Inc. CNCEN 20846F201 04-Sep-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Agree to 5th Amended ReOrg.
Plan by Toprs Comm. Security Holder Yes For Against
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Conseco, Inc. CNCEP 20846M206 04-Sep-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Agree to 5th Amended ReOrg.
Plan by Toprs Comm. Security Holder Yes For Against
THURSDAY, AUGUST 05, 2004 PAGE 3 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Conseco, Inc. CNCEM 20847D205 04-Sep-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Agree to 5th Amended ReOrg.
Plan by Toprs Comm. Security Holder Yes For Against
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Duke Energy Corporation DUK 264399106 13-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve directors Issuer Yes For For
Ratify auditors Issuer Yes For For
Approve incentives Issuer Yes For For
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Idaho Power Company IDHOP 451380307 20-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve directors slate Issuer No (1) NA NA
Ratify auditors Issuer No (1) NA NA
THURSDAY, AUGUST 05, 2004 PAGE 4 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Wachovia Preferred Funding Corp.
7.25% Series A WNA/P 92977V206 12-Dec-03
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve director slate. Issuer Yes Abstain Against
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Wisconsin Power and Light Company WIS 976826305 02-Jun-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Approve director slate. Issuer No (1 NA NA
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Xcel Energy Inc. XEL B 98389B308 20-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Eliminate Classified
Board terms. Issuer Yes For For
Approve directors slate Issuer Yes For For
Approve Director Stock
compensation plan. Issuer Yes For For
THURSDAY, AUGUST 05, 2004 PAGE 5 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Xcel Energy Inc. XEL G 98389B704 20-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Eliminate Classified
Board terms. Issuer Yes For For
Approve directors slate Issuer Yes For For
Approve Director Stock
compensation plan. Issuer Yes For For
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Xcel Energy Inc. XEL D 98389B506 20-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Eliminate Classified
Board terms. Issuer Yes For For
Approve directors slate Issuer Yes For For
Approve Director Stock
compensation plan. Issuer Yes For For
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Xcel Energy Inc. XEL E 98389B605 20-May-04
VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Eliminate Classified
Board terms. Issuer Yes For For
Approve directors slate Issuer Yes For For
Approve Director Stock
compensation plan. Issuer Yes For For
THURSDAY, AUGUST 05, 2004 PAGE 6 OF 7
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NAME OF THE ISSUER EXCHANGE TICKER SYMBOL CUSIP SHAREHOLDER MEETING DATE
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Xcel Energy Inc. XEL C 98389B407 20-May-04
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VOTE FOR OR AGAINST VOTE FOR OR AGAINST
MATTER VOTED PROPOSED BY VOTE CAST PROPOSAL MANAGEMENT
Eliminate Classified
Board terms. Issuer Yes For For
Approve directors slate Issuer Yes For For
Approve Director Stock
compensation plan. Issuer Yes For For
Notes: (1) The registrant did not cast a vote since the securities in question
were preferred or preference stocks of a utility operating company the common
stock of which was 100% controlled by the parent company and where the election
outcome was therefore foreordained.
THURSDAY, AUGUST 05, 2004 PAGE 7 OF 7
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Registrant FLAHERTY & CRUMRINE PREFERRED INCOME FUND INCORPORATED
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By (Signature and Title)* /S/ DONALD F. CRUMRINE
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Donald F. Crumrine, Director,
Chairman of the Board &
Chief Executive Officer
(Principal Executive Officer)
Date AUGUST 6, 2004
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*Print the name and title of each signing officer under his or her signature.