X0202 4 2006-12-26 0 0001245648 FLAHERTY & CRUMRINE/CLAYMORE TOTAL RETURN FUND INC FLC 0001252911 CHADWICK ROBERT E 301 E COLORADO BLVD STE 720 PASADENA CA 91101 0 1 0 0 Vice President, CFO Common Stock 2006-12-26 4 J 0 4198 21.6 A 4198 I Please see footnote 1 Mr. Chadwick is a 10% shareholder of Flaherty & Crumrine Incorporated, the direct beneficial owner of these shares. On December 26, 2006, the Board of Directors of Flaherty & Crumrine determined that Mr. Chadwick, as a director, would share investment control of these shares with the other directors of the corporation. Consequently, Mr. Chadwick is now reporting his pecuniary interest in these shares because he is no longer entitled to rely on Rule 16a-1(2)(iii) under the Exchange Act. Mr. Chadwick directly holds an additional 1,500 shares of the Fund. R. Eric Chadwick 2006-12-27