Importing Image ?

[rs02931]

Am I missing something? just getting old??
If I import a jpeg image thats 740x492 doing the following ............. project tray - Storyboard Import Image File - (check the "keep aspect ratio with moving path automatically") - then import to timeline. it has the black border on top and bottom and if i go to moving path options the"keep aspect ratio" box is NOT checked and the image is 720x425?????

If I import same image without moving path the image has NO black border and it is 740-492. Any explanation??????
thanks,
Bob