FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *

ELLINGER CRAIG

2. Date of Event Requiring Statement (Month/Day/Year)

02/26/2001

3. Issuer Name and Ticker or Trading Symbol

FORT DEARBORN INCOME SECURITIES INC [FTD]
(Last)
(First)
(Middle)


51 WEST 52ND ST 14TH FL

4. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President

5. If Amendment, Date Original Filed (Month/Day/Year)

(Street)

NEW YORK, NY 10019
(City)
(State)
(Zip)

6. Individual or Joint/Group Filing

(Check applicable line)

__X__ Form Filed by One Reporting Person
_____ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)

2. Amount of Securities Beneficially Owned (Instr. 4)

3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

4. Nature of Indirect Beneficial Ownership (Instr. 5)

Common Stock

0
D
 


Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)

2. Date Exercisable and Expiration Date (Month/Day/Year)

3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

4. Conversion or Exercise Price of Derivative Security

5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)

6. Nature of Indirect Beneficial Ownership (Instr. 5)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares



Remarks:

No securities are beneficially owned. Although this initial report on Form 3 was not timely filed, this delayed report does not involve any transactions in this issuer's common stock but rather to election or appointment as an officer of the issuer. If the reporting person owns shares, information regarding ownership is given as a more recent date.



Signatures

/s/ Craig Ellinger, by Keith A. Weller with Power of Attorney

11/18/2004
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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POWER OF ATTORNEY


The undersigned, being a person required to file a statement under Section
16(a) of the Securities Exchange Act of 1934 (the "1934 Act") and/or Section
30(h) of the Investment Company Act of 1940 (the "1940 Act") with respect to
Fort Dearborn Income Securities, Inc. (the "Fund"), does hereby authorize,
designate and appoint Mark F. Kemper, Keith A. Weller and James Capezzuto, and
each of them, as his attorney-in-fact to execute and file statements on Form 3,
Form 4, Form 5 and any successor forms adopted by the Securities and Exchange
Commission, as required by the 1934 Act and the 1940 Act and the rules
thereunder, and to take such other actions as such attorney-in-fact may deem
necessary or appropriate in connection with such statements, hereby confirming
and ratifying all actions that such attorney-in-fact has taken or may take in
reliance hereon. This power of attorney shall continue in effect until the
undersigned no longer has an obligation to file statements under the sections
cited above, or untilspecifically terminated in writing by the undersigned.

IN WITNESS WHEREOF, the undersigned has duly executed this power of attorney on
the 8th day of November 2004.

/s/ Craig Ellinger
Craig Ellinger