FORM N-PX
       ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                            INVESTMENT COMPANY

Investment Company Act file number: 811-4186

Income Securities Trust
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  (Exact name of registrant as specified in charter)

101 Huntington Avenue
Boston, MA  02199
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  (Address of principal executive offices)

Victor Acker
John Hancock Advisers, LLC
101 Huntington Avenue
Boston, MA  02199
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  (Name and address of agent for service)


Registrant's telephone number, including area code: 1 800-852-0218

Date of Fiscal year-end: 12/31/2003

Date of reporting period: 7/1/2003 - 6/30/2004

   Item 1. Proxy Voting Record
   Account Number: 127230

   ISSUER NAME TICKER CUSIP MTG DATE MTG TYPE
           Proposal Type Voted? Vote For/Agnst Mgmt
   Wachovia Preferred Funding Corp.   92977V206  12/12/03  Annual
   1.00   Elect Directors MGMT YES FOR FOR

   Any ballot marked 'Abstain' is considered to have been voted. Ballots
   marked 'Abstain' are considered to be have been voted against
   management's recommendation, regardless of whether the recommendation
   is 'For' or 'Against,' except where management has made no
   recommendation or has recommended that shareholders 'Abstain.'
   Where management has recommended that shareholders 'Abstain' from
   voting on a ballot item: 1) a ballot market 'Abstain' is considered to
   have been voted for management's recommendation to 'Abstain' and 2) a
   ballot voted 'For" or 'Against' is considered to have been voted
   against management's recommendation to 'Abstain.'
   Where management has made no recommendation on a ballot item, the
   abbreviation "N/A" is used to denote that there is no applicable
   recommendation compared to which a vote may be 'For' or 'Against' the
   recommendation of management.
   SIGNATURES:
   Pursuant to the requirements of the Investment Company Act of 1940,
   the registrant has duly caused this report to be signed on its behalf
   by the undersigned, thereunto duly authorized.

Income Securities Trust
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       (Registrant)


By _______________________________________________________________________
       (Signature & Title)


Date _____________________________________________________________________