Management Statement
Auditors’ Report to Shareholders
Consolidated Balance Sheets
Consolidated Statements
of Income
Consolidated Statements of Changes in Shareholders’ Equity
Consolidated Statements
of Cash Flows
Notes to Consolidated
Financial Statements
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Three-Year Review

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Years ended December 31, 2005 and 2004 (in thousands of dollars, except per share amounts)

3. MARKETABLE SECURITIES:

The carrying and fair values of the investment portfolio are as follows:
2005
2004
Carrying value
Fair value
Carrying value
Fair value
Money market fund
$ 134,701
$ 134,701
$   92,085
$   92,085
Short-term bond and mortgage fund
113,046
113,117
62,041
62,576
$ 247,747
$ 247,818
$ 154,126
$ 154,661