UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06179

Flaherty & Crumrine Preferred Income Fund Incorporated
(Exact name of registrant as specified in charter)

301 E. Colorado Boulevard, Suite 720
Pasadena, CA 91101
(Address of principal executive offices) (Zip code)

R. Eric Chadwick
Flaherty & Crumrine Incorporated
301 E. Colorado Boulevard, Suite 720
Pasadena, CA 91101
(Name and address of agent for service)

Registrant's telephone number, including area code: 626-795-7300

Date of fiscal year end: November 30

Date of reporting period: July 1, 2016 – June 30, 2017

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. §3507.

PROXY VOTING RECORD

FOR PERIOD JULY 1, 2016 TO JUNE 30, 2017

REGISTRANT NAME: Flaherty & Crumrine Preferred Income Fund Incorporated
INVESTMENT COMPANY ACT FILE NUMBER: 811 - 06179
REPORTING PERIOD:           07/01/2016 - 06/30/2017
REGISTRANT ADDRESS: 301 E. Colorado Boulevard, Suite 720, Pasadena, California 91101

Issuer of Portfolio Security Exchange
Ticker
Symbol		 CUSIP # Shareholder
Meeting Date		 Summary of Matter Voted On Who Proposed
Matter: Issuer /
Shareholder		 Whether
Fund Cast
Vote on
Matter		 Fund's Vote For or
Against Proposal,
or Abstain; For or
Withhold
Regarding Election
of Directors		 Whether Vote
Was For or
Against
Management
CIT Group Inc CIT 125581801 5/9/2017 Approve annual vote on executive compensation Issuer Yes For For
CIT Group Inc CIT 125581801 5/9/2017 Approve auditor Issuer Yes For For
CIT Group Inc CIT 125581801 5/9/2017 Approve compensation of executive officers Issuer Yes For For
CIT Group Inc CIT 125581801 5/9/2017 Approve directors Issuer Yes For For
ENDURANCE SPECIALTY HOLDINGS ENH 29267H406 1/27/2017 Approve adjournment of special meeting to solicit additional proxies if needed Issuer Yes For For
ENDURANCE SPECIALTY HOLDINGS ENH 29267H406 1/27/2017 Approve merger with SOMPO Holdings, Inc. Issuer Yes For For
FT REAL ESTATE SECS CO FHN 302663208 5/9/2017 Approve directors Issuer No N/A N/A
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Annual sustainability report Security Holder Yes Against For
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Approve auditor Issuer Yes For For
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Approve directors Issuer Yes For For
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Assessment of impacts of technological advances and climate change policies Security Holder Yes Against For
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Proxy access bylaw Security Holder Yes Against For
Kinder Morgan Incorporated KMI 49456B101 5/10/2017 Report on methane emissions Security Holder Yes Against For
WMI Holdings Corporation WMIH 92936P100 6/1/2017 Approve auditor Issuer Yes For For
WMI Holdings Corporation WMIH 92936P100 6/1/2017 Approve directors Issuer Yes For For
WMI Holdings Corporation WMIH 92936P100 6/1/2017 Approve executive compensation Issuer Yes For For

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.

Registrant         Flaherty & Crumrine Preferred Income Fund Incorporated

By (Signature and Title)*  /s/ R. Eric Chadwick
        R. Eric Chadwick, Chief Executive Officer and President
      (principal executive officer)

Date        August 24, 2017

*Print the name and title of each signing officer under his or her signature.