Form: N-Q

Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company filed on Form N-Q

November 29, 2004

Documents

N-Q: Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company filed on Form N-Q

Published on November 29, 2004

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08025
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Global Income Fund, Inc.
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(Exact name of registrant as specified in charter)

11 Hanover Square, 12th Floor, New York, NY 10005
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(Address of principal executive offices) (Zip code)

Thomas B. Winmill, President
Global Income Fund, Inc.
11 Hanover Square, 12th Floor
New York, NY 10005
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(Name and address of agent for service)

Registrant's telephone number, including area code: 1-212-344-6310
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Date of fiscal year end: 12/31
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Date of reporting period: 09/30/04
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Item 1. Schedule of Investments

September 30, 2004 (Unaudited)
Principal
Debt Securities - 80.64% Amount Value
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Australia - 6.57%
BHP Finance Ltd., 6.25%, 8/15/2008 1,000,000 730,450
National Australia Bank, 8.60%, 5/19/2010 1,000,000 1,202,814
Principal Financial Group, 8.20%, 8/15/2009 300,000 352,173
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2,285,437
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Canada - 3.91%
Province of Quebec, 5.50%, 2/05/2010 1,000,000 1,358,445
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Cyprus - 1.82%
Republic of Cyprus, 4.375%, 7/15/2014 500,000 631,885
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Denmark - 12.91%
Deutsche Ausgleichsbank, 5.75%, 12/07/2011 700,000 1,313,791
Dresdner Bank, 7.75%, 12/07/2007 1,000,000 1,918,371
Kredit Wiederauf, 3.50%, 4/17/2009 1,000,000 1,256,257
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4,488,419
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France - 7.48%
Elf Aquitaine, 4.50%, 3/23/2009 1,000,000 1,293,487
Social National Chemins Fer Fra, 4.625%, 10/25/2009 1,000,000 1,308,096
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2,601,583
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Germany - 7.66%
European Investment Bank, 5.50%, 12/07/2011 738,000 1,366,287
Vodafone Group PLC, 4.625%, 1/31/2008 1,000,000 1,296,068
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2,662,355
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Hungary - 1.81%
Republic of Hungary, 4.00%, 9/27/2010 500,000 630,794
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Italy - 1.82%
Enel-Societa Per Azioni, 4.75%, 6/12/2018 500,000 633,807
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Korea - 1.52%
Korea Development Bank, 5.75%, 09/10/2013 500,000 528,238
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Netherlands - 7.56%
ABN Amro Bank, N.V., 4.75%, 1/04/2014 500,000 645,884
Aegon N.V., 4.625%, 4/16/2008 1,000,000 1,293,441
Koninklijke Philips Electronics, 6.125%, 5/16/2011 500,000 691,282
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2,630,607
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Sweden - 3.82%
Kingdom of Sweden, 5.00%, 1/28/2009 1,000,000 1,329,753
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United Kingdom - 7.07%
National Westminster Bank, 7.375%, 10/01/2009 1,000,000 1,156,841
Tesco PLC, 4.75%, 4/13/2010 1,000,000 1,302,126
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2,458,967
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Schedule of Investments - continued

September 30, 2004 (Unaudited)

Principal
Debt Securities - 80.64% - continued Amount Value
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United States - 16.69%
CIT Rv Trust 1998-A, 6.29%, 1/15/2017 500,000 $ 519,541
Federal Farm Credit Bank, 4.73%, 6/13/2018 250,000 242,903
Federal Home Loan Bank, 2.625%, 10/16/2006 2,000,000 1,991,956
General Electric Capital Corp., 4.75%, 2/13/2019 500,000 492,271
International Bank Recon & Development, 5.05%, 5/29/2008 1,200,000 1,272,960
Toyota Motor Credit Corp., 4.125%, 1/15/2008 1,000,000 1,282,810
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5,802,441
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TOTAL DEBT SECURITIES (Cost $27,581,036) 28,042,731
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Preferred Stocks - 6.13%

BAC Capital Trust II, 7.00% 5,000 132,000
BAC Capital Trust III, 7.00% 5,000 132,350
Corporate-Backed Trust Certificates, 6.00% 5,000 118,250
Corporate-Backed Trust Certificates, 8.20% 25,000 662,500
Disney (Walt) Company, 7.00% 20,000 530,200
General Motors Corp., 7.25% 10,000 255,200
SATURNS SM, 5.875% 5,000 118,450
Wells Fargo Capital Trust V, 7.00% 6,900 182,229
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TOTAL PREFERRED STOCK (Cost $2,047,500) 2,131,179
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Short Term Investments - 11.37%

State Street Repurchase Agreement, 0.35%, 10/01/2004 2,935,639 2,935,639
U.S. Treasury Note, 1.875%, 7/15/2013 1,000,000 1,017,305
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TOTAL SHORT TERM INVESTMENTS (Cost $3,939,209) 3,952,944
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TOTAL INVESTMENTS (Cost $33,567,745) - 98.14% $ 34,126,854
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Other assets less liabilities - 1.86% 645,738
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TOTAL NET ASSETS - 100.00% $ 34,772,592
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Note: The Market Value is stated in U.S. dollars.

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Midas Funds
Global Income Fund
Schedule of Investments - Continued
September 30, 2004 (Unaudited)



Tax Related
Unrealized appreciation $ 670,878
Unrealized depreciation (111,769)
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Net unrealized appreciation $ 559,109
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Aggregate cost of securities for income tax purposes $ 33,567,745
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Item 2. Controls and Procedures

(a) The Principal Executive Officer and Principal Financial Officer have
concluded that the registrant's disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act) provide
reasonable assurances that material information relating to the registrant
is made known to them by the appropriate persons, based on their evaluation
of these controls and procedures as of a date within 90 days of the filing
date of this report.

(b) There were no significant changes in the registrant's internal control over
financial reporting (as defined in Rule 30a- 3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the registrant's last fiscal quarter
that has materially affected, or is reasonably likely to materially affect,
the registrant's internal control over financial reporting.

Item 3. Exhibits

(a) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and 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.

GLOBAL INCOME FUND, INC.

By: /s/ Thomas B. Winmill
-----------------------------
Thomas B. Winmill, President

Date: November 29, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

By: /s/ Thomas B. Winmill
-----------------------------
Thomas B. Winmill, President

Date: November 29, 2004

By: /s/ William G. Vohrer
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William G. Vohrer, Treasurer

Date: November 29, 2004

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.
(EX-99.CERT)