0000950131-97-001287 N-30D 1 19961231 19970226 NONE BAKER FENTRESS & CO ET AL 0000009235 0000 360767530 DE 1231 N-30D 40 811-02144 97543467 200 W MADISON ST STE 3510 CHICAGO IL 60606 3122369190 N-30D 1 000095013197001287-001-seq1-n-30d.txt ANNUAL REPORT FOR BAKER, FENTRESS & COMPANY