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<SEC-DOCUMENT>0000950172-03-000855.txt : 20030317
<SEC-HEADER>0000950172-03-000855.hdr.sgml : 20030317
<ACCEPTANCE-DATETIME>20030317142001
ACCESSION NUMBER:		0000950172-03-000855
CONFORMED SUBMISSION TYPE:	N-23C-2
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030317
FILED AS OF DATE:		20030317
EFFECTIVENESS DATE:		20030317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI CONVERTIBLE & INCOME SECURITIES FUND INC
		CENTRAL INDEX KEY:			0000845611
		IRS NUMBER:				133523423
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-23C-2
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-00877
		FILM NUMBER:		03605649

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		2123098408

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE YORK
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GABELLI SERIES FUNDS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GABELLI CONVERTIBLE SECURITIES FUND INC /DE
		DATE OF NAME CHANGE:	19970507
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-2
<SEQUENCE>1
<FILENAME>s451398.txt
<DESCRIPTION>N23-C-2
<TEXT>
                                                            March 17, 2003


Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, N.W.
Washington, D.C. 20549

                         Re:      The Gabelli Convertible and Income
                                  Securities Fund Inc. (811-05715)
                                  Investment Company Act Rule 23c-2 Notification
                                  ----------------------------------------------

Dear Sir or Madam:

         In accordance with Rule 23c-2 promulgated under the Investment
Company Act of 1940, as amended (the "1940 Act"), The Gabelli Convertible and
Income Securities Fund Inc. (the "Fund") is hereby providing notice of its
intention to call or redeem all or a portion of its Series C Auction Rate
Cumulative Preferred Stock, par value $.001 per share (the "Series C
Preferred"), on the date determined in accordance with the mandatory
redemption provisions of Article I paragraph 3 of the Articles Supplementary
creating and fixing the rights of the Series C Preferred (the "Articles
Supplementary").

         The date on which any Series C Preferred shares will be mandatorily
called or redeemed pursuant to Article I paragraph 3 of the Articles
Supplementary will be no more than 30 days after a failure by the Fund to
maintain the asset coverage required of it under the 1940 Act or meet the
basic asset maintenance amount tests required of it by the rating agencies
that rate the Fund's preferred stock at its request (each a "Coverage Test"
and collectively the "Coverage Tests") that was not cured on or prior to the
applicable cure date (a "Coverage Test Failure").

         The amount of Series C Preferred to be called or redeemed upon the
occurrence of a Coverage Test Failure will be an amount determined by the
Fund's Board of Directors that is (when aggregated with any other preferred
stock of the Fund then being called or redeemed) the lesser of (i) the minimum
amount of preferred stock, including the Series C Preferred, the redemption of
which, if deemed to have occurred immediately prior to the opening of business
on the relevant cure date, would result in the Fund meeting each applicable
Coverage Test or (ii) the maximum amount of preferred stock, including the
Series C Preferred, that can be redeemed out of the Fund's available funds.

         In addition, in the event of a Coverage Test Failure the Fund may,
but is not obligated to, mandatorily call or redeem pursuant to Article I
paragraph 3 of the Articles Supplementary an additional amount of preferred
stock, including the Series C Preferred, in order that immediately following
such redemption the Fund would have asset coverage with respect to its
remaining preferred stock outstanding of 220% asset coverage under the 1940
Act and 110% of the asset maintenance amount required under any other Coverage
Test.

         In the event that less than all of the Series C Preferred shares then
outstanding are to be called or redeemed in connection with a Coverage Test
Failure by the Fund, the Series C Preferred shares to be so called or redeemed
will be selected proportionally from among the holders of Series C Preferred
shares on the basis of shares held, by lot or by such other method as the Fund
shall deem fair and equitable.

                                       Very truly yours,

                                       THE GABELLI CONVERTIBLE AND INCOME
                                         SECURITIES FUND INC.


                                       By:   /s/Bruce N. Alpert
                                             -----------------------------------
                                       Name:  Bruce N. Alpert
                                       Title: President


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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