MARKETABLE SECURITIES

12 Months Ended

Jul. 31, 2014

MARKETABLE SECURITIES [Abstract]

MARKETABLE SECURITIES

2. MARKETABLE SECURITIES:

     As of July 31, 2014 and 2013, the Company's marketable securities were classified as follows:

	July 31, 2014								July 31, 2013
			Gross		Gross						Gross		Gross
			Unrealized		Unrealized		Fair				Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Current:
Held-to-maturity:
Certificate of deposit	$	-	$	-		$ -	$	-	$	50,326	$	-	$	-	$	50,326
	$	-	$	-		$ -	$	-	$	50,326	$	-	$	-	$	50,326
Non-current:
Available-for-sale:
Mutual funds	$	691,047	$	129,173		$ -	$	820,220	$	1,559,925	$	242,041	$	12,052	$	1,789,914
Equity securities		426,754		107,239		-		533,993		515,715		105,341		1,697		619,359
	$	1,117,801	$	236,412		$ -	$	1,354,213	$	2,075,640	$	347,382	$	13,749	$	2,409,273

     Investment income for the years ended July 31, 2014, 2013 and 2012 consists of the following:

	2014		2013			2012
Interest income	$	2,557	$	7,955		$	5,121
Dividend income		46,884		71,943			45,669
Gain (loss) on sale of marketable securities		182,870		(5,572	)		(18,606	)
Total	$	232,311	$	74,326		$	32,184