SOURCE CAPITAL /DE/ — Director's Dealing 2005

Feb 11, 2005

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: SOURCE CAPITAL INC /DE/ (SOR)
CIK: 0000091847
Period of Report: 2004-12-31

Reporting Person: SCHLOEMER PAUL G (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-15	Common Stock	J	21.6355	$62.4530	Acquired	1168.8435	Indirect
2004-06-15	Common Stock	J	22.6539	$60.6005	Acquired	1191.4974	Indirect
2004-09-15	Common Stock	J	22.5990	$61.7500	Acquired	1214.0964	Indirect
2004-12-15	Common Stock	J	18.3883	$66.0250	Acquired	1232.4847	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Preferred Stock	340	Indirect

Footnotes

F1: Shares acquired through the Company's dividend reinvestment plan.