<SEC-DOCUMENT>0001206774-17-002605.txt : 20170824
<SEC-HEADER>0001206774-17-002605.hdr.sgml : 20170824
<ACCEPTANCE-DATETIME>20170824170338
ACCESSION NUMBER:		0001206774-17-002605
CONFORMED SUBMISSION TYPE:	N-PX
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170630
FILED AS OF DATE:		20170824
DATE AS OF CHANGE:		20170824
EFFECTIVENESS DATE:		20170824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLAHERTY & CRUMRINE TOTAL RETURN FUND INC
		CENTRAL INDEX KEY:			0001245648
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-PX
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21380
		FILM NUMBER:		171049853

	BUSINESS ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		(626) 795-7300

	MAIL ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FLAHERTY & CRUMRINE/CLAYMORE TOTAL RETURN FUND INC
		DATE OF NAME CHANGE:	20030623
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-PX
<SEQUENCE>1
<FILENAME>fandcflc3299644-npx.htm
<DESCRIPTION>ANNUAL REPORT OF PROXY VOTING RECORD
<TEXT>

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   <TITLE></TITLE>
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<P align=center><FONT face="Times New Roman" size=2>UNITED
STATES<BR></FONT><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, DC 20549 </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>FORM N-PX</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>ANNUAL REPORT OF PROXY
VOTING RECORD OF REGISTERED<BR>MANAGEMENT INVESTMENT COMPANY</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Investment Company Act file
number </FONT><U><FONT face="Times New Roman" size=2>811-21380
 </FONT></U><FONT face="Times New Roman" size=2></FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="100%"><FONT face="Times New Roman" size=2>Flaherty &amp; Crumrine Total Return Fund Incorporated
</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Exact name of
      registrant as specified in charter)</FONT></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>301 E. Colorado
      Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=center width="100%"><FONT face="Times New Roman" size=2>Pasadena, CA 91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Address of
      principal executive offices) (Zip code)</FONT></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>R. Eric
      Chadwick</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>Flaherty &amp;
      Crumrine Incorporated</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>301 E. Colorado
      Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=center width="100%"><FONT face="Times New Roman" size=2>Pasadena, CA 91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Name and address
      of agent for service)</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>Registrant's telephone
number, including area code: </FONT><U><FONT face="Times New Roman" size=2>626-795-7300</FONT></U></P>
<P align=center><FONT face="Times New Roman" size=2>Date of fiscal year end:
</FONT><U><FONT face="Times New Roman" size=2>November 30</FONT></U><B><FONT face="Times New Roman" size=2> </FONT></B></P>
<P align=center><FONT face="Times New Roman" size=2>Date of reporting period:
</FONT><U><FONT face="Times New Roman" size=2>July 1, 2016 &#150; June 30,
2017</FONT></U><FONT face="Times New Roman" size=2> </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>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 (&#167;&#167; 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. </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>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. &sect;3507.
</FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P align=center><B><FONT face="Times New Roman" size=2>PROXY VOTING RECORD
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>FOR PERIOD JULY 1, 2016
TO JUNE 30, 2017 </FONT></B></P>

<div align=left><B><FONT face="Times New Roman" size=1>REGISTRANT NAME: Flaherty &amp; Crumrine Total Return Fund Incorporated</FONT></B></div>
<div align=left><B><FONT face="Times New Roman" size=1>INVESTMENT COMPANY ACT FILE NUMBER: 811 - 21380</FONT></B></div>
<div align=left><B><FONT face="Times New Roman" size=1>REPORTING PERIOD: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>07/01/2016 - 06/30/2017</U></FONT></B></div>
<div align=left><B><FONT face="Times New Roman" size=1>REGISTRANT  ADDRESS: 301 E. Colorado Boulevard, Suite 720, Pasadena, California 91101</FONT></B></div>
<BR>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: 14pt; padding-left: 4pt; padding-right: 4pt; border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">

  <TR>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 17%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt">
      <B>Issuer of
      </B><B>Portfolio</B><B>
      </B><B>Security</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 4%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt"><B>Exchange<BR></B><B>Ticker<BR></B><B>Symbol</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 9%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt"><B>CUSIP #</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 8%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt"><B>Shareholder<BR></B><B>Meeting</B><B>
      Date</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 31%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt">
      <B>Summary</B><B> of Matter
      Voted On</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 9%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt">
      <B>Who
      </B><B>Proposed<BR></B><B>Matter:</B><B> Issuer
      /<BR></B><B>Shareholder</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 4%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt"><B>Whether<BR></B><B>Fund
      Cast<BR>Vote on<BR>Matter</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 9%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt">
      <B>Fund's Vote For
      or<BR></B><B>Against</B><B>
      </B><B>Proposal,<BR></B><B>or
      </B><B>Abstain;</B><B> For
      or<BR></B><B>Withhold<BR></B><B>Regarding</B><B>
      </B><B>Election<BR></B><B>of
      </B><B>Directors</B></TD>
    <TD NOWRAP STYLE="border-top: #000000 1.5pt solid; border-right: Black 1.5pt solid; border-bottom: #000000 1.5pt solid; border-left: #000000 1.5pt solid; text-align: center; width: 8%; background-color: #c0c0c0; padding-right: 2pt; padding-left: 2pt"><B>Whether</B><B>
      Vote<BR>Was For or<BR></B><B>Against<BR></B><B>Management</B></TD></TR>
 <TR STYLE="vertical-align: middle">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left: Black 1pt solid; width: 19%; padding-right: 2pt; padding-left: 2pt">CIT Group Inc</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 5%; padding-right: 2pt; padding-left: 2pt">CIT</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 7%; padding-right: 2pt; padding-left: 2pt">125581801</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt; width: 7%; padding-right: 2pt; padding-left: 2pt">5/9/2017</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 34%; padding-right: 2pt; padding-left: 2pt">Approve annual vote on executive compensation</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 8%; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 5%; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 8%; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left-color: Black; border-left-width: 0.5pt; width: 7%; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; padding-right: 2pt; padding-left: 2pt">CIT Group Inc</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">CIT</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">125581801</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">5/9/2017</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve auditor</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">CIT Group Inc</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">CIT</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">125581801</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">5/9/2017</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve compensation of executive officers</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">CIT Group Inc</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">CIT</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">125581801</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">5/9/2017</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve directors</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">ENDURANCE SPECIALTY HOLDINGS</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">ENH</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">29267H406</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">1/27/2017</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve adjournment of special meeting to solicit additional proxies if needed</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">ENDURANCE SPECIALTY HOLDINGS</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">ENH</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">29267H406</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">1/27/2017</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve merger with SOMPO Holdings, Inc.</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Yes</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">For</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 1pt solid; border-top-color: Black; border-top-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">FT REAL ESTATE SECS CO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">FHN</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">302663208</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">5/9/2017</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Approve directors</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">Issuer</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">No</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">N/A</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; border-left-color: Black; border-left-width: 0.5pt; padding-right: 2pt; padding-left: 2pt">N/A</TD></TR>
</TABLE>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES
</FONT></B></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2>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.
</FONT></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT size=2 face="Times New Roman">Registrant&nbsp; <FONT face="Times New Roman"></FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="98%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flaherty &amp; Crumrine Total Return Fund Incorporated
</FONT></TD></TR></TABLE><br>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>By (Signature and
      Title)*&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="97%"><FONT face="Times New Roman" size=2>/s/ R. Eric
      Chadwick</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="97%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R. Eric
      Chadwick, Chief Executive Officer and President</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="97%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (principal executive
    officer)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="text-align: center" width="99%" colSpan=2></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Date&nbsp;
    </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="98%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 24, 2017 </FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>*Print the name and title of
each signing officer under his or her signature. </FONT></P>
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