X0303 4 2008-07-17 0 0000009521 BANCROFT FUND LTD BCV 0001014776 DINSMORE CAPITAL MANAGEMENT CO/NJ 65 MADISON AVE SUITE 550 MORRISTOWN NJ 07960 0 0 0 1 Investment adviser Shares of Beneficial Interest 2008-07-17 4 J 0 2797 18.1 D 2003 D This report is filed to report the disposition of 2,797 shares, transferred to Thomas H. Dinsmore and Jane D. O'Keeffe as bonuses for services rendered as of the adviser's fiscal year end, June 30, 2008. Includes 1,531 shares acquired on various dates in fiscal years 2003 through 2008 under the BCV dividend reinvestment plan. /s/ Gary I. Levine, attorney-in-fact 2008-07-21