SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                         RULE 23C-2 NOTICE OF INTENTION
                              TO REDEEM SECURITIES

                                       OF

                          FLAHERTY & CRUMRINE/CLAYMORE
                         TOTAL RETURN FUND INCORPORATED
                      301 E. Colorado Boulevard, Suite 720
                               Pasadena, CA 91101
                                 (626) 795-7300

                                    under the

                         Investment Company Act of 1940

                    Investment Company Act File No. 811-21380



                  The  undersigned   registered  closed-end  investment  company
hereby notifies the Securities and Exchange Commission that it intends to redeem
securities of which it is the issuer,  as set forth below in accordance with the
requirements of Rule 23c-2 under the Investment Company Act of 1940, as amended,
and  states  that it is filing  this  notice  with the  Commission  pursuant  to
permission  granted by the  Commission's  staff  fewer than 30 days prior to the
date set for redemption.

(1)      TITLE OF THE CLASSES OF SECURITIES OF FLAHERTY & CRUMRINE/CLAYMORE
         TOTAL RETURN FUND INCORPORATED (THE "FUND") TO BE REDEEMED:

                  Auction  Preferred  Stock,  Series T7 (CUSIP  #338479207)  and
         Series W28 (CUSIP  #338479306),  par value $.01 per share,  liquidation
         preference of $25,000 per share (the "Preferred Stock").

(2) DATE ON WHICH THE SECURITIES ARE TO BE CALLED OR REDEEMED:

                           SERIES                     DATE
                           ------                     ----
                           T7                         June 24, 2009

                           W28                        July 9, 2009




(3)      APPLICABLE PROVISIONS OF THE GOVERNING INSTRUMENT PURSUANT TO WHICH THE
         SECURITIES ARE TO BE CALLED OR REDEEMED:

                  The shares of Preferred  Stock are to be redeemed  pursuant to
         Part I, Articles 8(a) and 8(c),  of the Fund's  Articles  Supplementary
         Establishing  and Fixing the Rights and  Preferences  of Auction Market
         Preferred Stock.

(4)      THE NUMBER OF SHARES TO BE REDEEMED AND THE BASIS UPON WHICH THE SHARES
         TO BE REDEEMED ARE TO BE SELECTED:

         The  Fund  intends  to  redeem,  on a pro  rata  basis  by  series  (as
determined by the Depository Trust Company), the number of outstanding shares of
Preferred Stock set forth below:

                           SERIES           NUMBER OF SHARES
                           ------           ----------------
                           T7               580

                           W28              580









                                   SIGNATURE

                  Pursuant to the  requirement  of Rule 23c-2 of the  Investment
Company  Act of 1940,  as  amended,  the Fund has duly  caused  this  Notice  of
Intention to Redeem Securities to be signed on its behalf by the undersigned, in
the City of Pasadena and the State of California, on this 8th day of June 2009.

                                              FLAHERTY & CRUMRINE/CLAYMORE
                                              TOTAL RETURN FUND INCORPORATED



                                              By:      /S/ R. ERIC CHADWICK
                                                       -------------------------
                                              Name:    R. Eric Chadwick
                                              Title:   Chief Financial Officer