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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Pk/WeDqPFoFOfyRv65lQ61CvykzS/cHERTmxGp0QsaM/cjL7QwNivKTOAzI6I67h
 /4BeLhOwjvh6asLy/e5dKg==

<SEC-DOCUMENT>0001018500-04-000022.txt : 20041112
<SEC-HEADER>0001018500-04-000022.hdr.sgml : 20041111
<ACCEPTANCE-DATETIME>20041112120731
ACCESSION NUMBER:		0001018500-04-000022
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041110
FILED AS OF DATE:		20041112
DATE AS OF CHANGE:		20041112

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEXIL CORP
		CENTRAL INDEX KEY:			0001023714
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTORS, NEC [6799]
		IRS NUMBER:				133907058
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		11 HANOVER SQUARE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		2127850900

	MAIL ADDRESS:	
		STREET 1:		11 HANOVER SQUARE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BULL & BEAR U S GOVERNMENT SECURITIES FUND INC
		DATE OF NAME CHANGE:	19960926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WINMILL THOMAS BASSETT
		CENTRAL INDEX KEY:			0001018500

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12233
		FILM NUMBER:		041137122

	BUSINESS ADDRESS:	
		STREET 1:		11 HANOVER SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		2127850900

	MAIL ADDRESS:	
		STREET 1:		11 HANOVER SQ
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tbw-bxl1104_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-11-10</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001023714</issuerCik>
        <issuerName>BEXIL CORP</issuerName>
        <issuerTradingSymbol>BXL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001018500</rptOwnerCik>
            <rptOwnerName>WINMILL THOMAS BASSETT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>11 HANOVER SQUARE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10005</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Qualified Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16.30</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-11-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.30</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-11-10</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-11-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36845</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Thomas B. Winmill is an officer and director of Winmill &amp; Co. Incorporated (&quot;WCI&quot;) and Investor Service Center, Inc. (&quot;ISC&quot;),
a wholly owned subsidiary of WCI. ISC is also a beneficial owner of more than 10% of the Issuer's shares, as set forth in
ISC's Form 4 filings. Mr. Winmill disclaims beneficial ownership of all Issuer shares owned by ISC and WCI.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Thomas B. Winmill, President</signatureName>
        <signatureDate>2004-11-12</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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