<PAGE> PAGE 1
000 B000000 03/31/97
000 C000000 0000101124
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 UNITED CONTINENTAL INCOME FUND, INC.
001 B000000 811-2008
001 C000000 9132362000
002 A000000 6300 LAMAR AVENUE P O BOX 29217
002 B000000 SHAWNEE MISSION
002 C000000 KS
002 D010000 66201
002 D020000 9217
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 WADDELL & REED INVESTMENT MANAGEMENT COMPANY
008 B000001 A
008 C000001 801-40372
008 D010001 OVERLAND PARK
008 D020001 KS
008 D030001 66202
008 D040001 4200
010 A000001 WADDELL & REED SERVICES COMPANY
010 B000001 84-1062
010 C010001 OVERLAND PARK
010 C020001 KS
010 C030001 66202
010 C040001 4200
011 A000001 WADDELL & REED, INC.
011 B000001 8-15372
011 C010001 OVERLAND PARK
011 C020001 KS
011 C030001 66202
<PAGE> PAGE 2
011 C040001 4200
012 A000001 WADDELL & REED SERVICES COMPANY
012 B000001 84-1062
012 C010001 OVERLAND PARK
012 C020001 KS
012 C030001 66202
012 C040001 4200
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 KANSAS CITY
013 B020001 MO
013 B030001 64106
013 B040001 2232
015 A000001 UMB BANK, N.A.
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 C040001 6226
015 E010001 X
015 A000002 BHF BANK
015 B000002 S
015 C010002 FRANKFURT
015 D010002 GERMANY
015 E040002 X
015 A000003 SKANDINAVISKA ENSKILDA BANKEN
015 B000003 S
015 C010003 STOCKHOLM
015 D010003 SWEDEN
015 E040003 X
015 A000004 UNITED MISSOURI TRUST COMPANY OF NEW YORK
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10004
015 E010004 X
015 A000005 BROWN BROTHERS HARRIMAN & CO.
015 B000005 S
015 C010005 BOSTON
015 C020005 MA
015 C030005 02109
015 E010005 X
015 A000006 UNION BANK OF SWITZERLAND
015 B000006 S
015 C010006 ZURICH
015 D010006 SWITZERLAND
015 E040006 X
018 000000 Y
019 A000000 Y
019 B000000 34
019 C000000 UNITDGROUP
020 A000001 SALOMON BROTHERS INC.
<PAGE> PAGE 3
020 B000001 13-3082694
020 C000001 39
020 A000002 BRIDGE INFORMATION SYSTEMS, INC.
020 C000002 37
020 A000003 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000003 13-2741729
020 C000003 29
020 A000004 UBS SECURITIES LLC
020 B000004 13-3873456
020 C000004 24
020 A000005 MORGAN (J.P.) SECURITIES INC.
020 B000005 13-3224016
020 C000005 22
020 A000006 ROBINSON-HUMPHREY COMPANY, INC. (THE)
020 B000006 58-1472560
020 C000006 18
020 A000007 AUTRANET, INC.
020 B000007 13-2961507
020 C000007 16
020 A000008 PAINEWEBBER INCORPORATED
020 B000008 13-2638166
020 C000008 16
020 A000009 DEUTSCHE MORGAN GRENFELL/C.J. LAWRENCE INC.
020 B000009 13-2730828
020 C000009 15
020 A000010 GOLDMAN, SACHS & CO.
020 B000010 13-5108880
020 C000010 15
021 000000 481
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 157606
022 D000001 45206
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002 66627
022 D000002 29447
022 A000003 LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003 70127
022 D000003 14969
022 A000004 U.S. BANCORP
022 C000004 36186
022 D000004 36143
022 A000005 CS FIRST BOSTON CORPORATION (THE)
022 B000005 13-5659485
022 C000005 40949
022 D000005 26086
022 A000006 SARA LEE CORPORATION
022 C000006 22558
022 D000006 22274
<PAGE> PAGE 4
022 A000007 GENERAL MILLS, INC.
022 C000007 21862
022 D000007 22617
022 A000008 MORGAN (J.P.) SECURITIES INC.
022 B000008 13-3224016
022 C000008 24044
022 D000008 0
022 A000009 JOHN DEERE CAPITAL CORP.
022 C000009 17169
022 D000009 0
022 A000010 FORD MOTOR CREDIT
022 C000010 7611
022 D000010 7615
023 C000000 526424
023 D000000 224419
024 000000 Y
025 A000001 SALOMON INC.
025 B000001 22-1660266
025 C000001 D
025 D000001 5310
025 A000002 DELETE
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 2492
028 A020000 0
028 A030000 0
028 A040000 4754
028 B010000 2520
028 B020000 0
028 B030000 0
028 B040000 4450
028 C010000 3106
028 C020000 43436
028 C030000 0
028 C040000 5547
028 D010000 3069
<PAGE> PAGE 5
028 D020000 0
028 D030000 0
028 D040000 4354
028 E010000 3145
028 E020000 0
028 E030000 0
028 E040000 5480
028 F010000 2924
028 F020000 3672
028 F030000 0
028 F040000 4934
028 G010000 17256
028 G020000 47108
028 G030000 0
028 G040000 29519
028 H000000 12989
029 000000 Y
030 A000000 1174
030 B000000 5.75
030 C000000 0.00
031 A000000 504
031 B000000 0
032 000000 0
033 000000 670
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 806
044 000000 0
045 000000 Y
046 000000 N
047 000000 N
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
<PAGE> PAGE 6
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 Y
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 50
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 7
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 N
067 000000 Y
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 Y
<PAGE> PAGE 8
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 192612
071 B000000 212338
071 C000000 478011
071 D000000 40
072 A000000 12
072 B000000 13706
072 C000000 6533
072 D000000 0
072 E000000 0
072 F000000 2844
072 G000000 60
072 H000000 0
072 I000000 854
072 J000000 39
072 K000000 0
072 L000000 0
072 M000000 20
072 N000000 54
072 O000000 3
072 P000000 0
072 Q000000 0
072 R000000 17
072 S000000 8
072 T000000 806
072 U000000 0
072 V000000 0
072 W000000 63
072 X000000 4768
072 Y000000 0
072 Z000000 15471
072AA000000 40317
072BB000000 7856
072CC010000 0
072CC020000 18522
072DD010000 15354
072DD020000 197
072EE000000 40197
073 A010000 0.7300
073 A020000 0.7730
073 B000000 1.9300
073 C000000 0.0000
074 A000000 14
074 B000000 0
074 C000000 36253
074 D000000 174340
074 E000000 0
<PAGE> PAGE 9
074 F000000 300945
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 538
074 L000000 3762
074 M000000 19
074 N000000 515871
074 O000000 732
074 P000000 240
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1145
074 S000000 0
074 T000000 513754
074 U010000 22334
074 U020000 276
074 V010000 22.72
074 V020000 22.72
074 W000000 0.0000
074 X000000 44651
074 Y000000 0
075 A000000 0
075 B000000 513175
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 Y
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 18500
081 A000000 Y
<PAGE> PAGE 10
081 B000000 33
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000101124
<NAME> UNITED CONTINENTAL INCOME FUND, INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 451,741,913
<INVESTMENTS-AT-VALUE> 511,537,618
<RECEIVABLES> 4,300,347
<ASSETS-OTHER> 19,240
<OTHER-ITEMS-ASSETS> 14,044
<TOTAL-ASSETS> 515,871,249
<PAYABLE-FOR-SECURITIES> 731,940
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,384,943
<TOTAL-LIABILITIES> 2,116,883
<SENIOR-EQUITY> 22,610,323
<PAID-IN-CAPITAL-COMMON> 415,990,981
<SHARES-COMMON-STOCK> 22,610,323
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 729,491
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,627,866
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 59,795,705
<NET-ASSETS> 513,754,366
<DIVIDEND-INCOME> 6,533,066
<INTEREST-INCOME> 13,705,947
<OTHER-INCOME> 0
<EXPENSES-NET> (4,767,731)
<NET-INVESTMENT-INCOME> 15,471,282
<REALIZED-GAINS-CURRENT> 32,460,692
<APPREC-INCREASE-CURRENT> (18,522,005)
<NET-CHANGE-FROM-OPS> 29,409,969
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,551,185)
<DISTRIBUTIONS-OF-GAINS> (40,196,568)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,393,992
<NUMBER-OF-SHARES-REDEEMED> (2,296,278)
<SHARES-REINVESTED> 2,359,953
<NET-CHANGE-IN-ASSETS> 6,000,827
<ACCUMULATED-NII-PRIOR> 792,770
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,843,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,767,731
<AVERAGE-NET-ASSETS> 513,175,124
<PER-SHARE-NAV-BEGIN> 24.00
<PER-SHARE-NII> 0.72
<PER-SHARE-GAIN-APPREC> 0.66
<PER-SHARE-DIVIDEND> (0.73)
<PER-SHARE-DISTRIBUTIONS> (1.93)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.72
<EXPENSE-RATIO> 0.93
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
