MARKETABLE SECURITIES

12 Months Ended

Jul. 31, 2013

MARKETABLE SECURITIES [Abstract]

MARKETABLE SECURITIES

2. MARKETABLE SECURITIES:

As of July 31, 2013 and 2012, the Company's marketable securities were classified as follows:

	July 31, 2013										July 31, 2012
			Gross			Gross							Gross			Gross
			Unrealized			Unrealized							Unrealized			Unrealized
	Cost		Gains			Losses			Fair Value		Cost		Gains			Losses			Fair Value
Current:
Held-to-maturity:
Certificate of deposit	$	50,326		$	-		$	-	$	50,326	$	50,246		$	-		$	-	$	50,246
Corporate debt securities		-			-			-		-		176,151			2,025			-		178,176
	$	50,326		$	-		$	-	$	50,326	$	226,397		$	2,025		$	-	$	228,422
Non-current:
Available-for-sale:
Mutual funds	$	1,559,925		$	242,041		$	12,052	$	1,789,914	$	1,255,982		$	123,203		$	-	$	1,379,185
Equity securities		515,715			105,341			1,697		619,359		715,750			135,813			15,539		836,024
	$	2,075,640		$	347,382		$	13,749	$	2,409,273	$	1,971,732		$	259,016		$	15,539	$	2,215,209

     The Company's debt and equity securities, gross unrealized losses and fair value, aggregated by investment category and length of time that the investment securities have been in a continuous unrealized loss position at July 31, 2013 are as follows.

			Less Than
	Fair Value		12 Months
Mutual funds	$	511,322		$	12,052
Equity securities		181,684			1,697
Total	$	693,006		$	13,749

Investment income for the years ended July 31, 2013, 2012 and 2011 consists of the following:

	2013			2012			2011
Interest income	$	7,955		$	5,121		$	44,409
Dividend income		71,943			45,669			48,072
Gain (loss) on sale of marketable securities		(5,572	)		(18,606	)		10,603
Total	$	74,326		$	32,184		$	103,084