<PAGE> PAGE 1
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<PAGE> PAGE 2
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015 C040001 6226
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015 C020003 NY
015 C030003 10004
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<PAGE> PAGE 3
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020 A000005 MORGAN (J.P.) SECURITIES INC.
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE SEMIANNUAL REPORT
TO SHAREHOLDERS DATED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000101185
<NAME> UNITED RETIREMENT SHARES, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 538,613,362
<INVESTMENTS-AT-VALUE> 642,444,991
<RECEIVABLES> 5,520,938
<ASSETS-OTHER> 11,312
<OTHER-ITEMS-ASSETS> 2,717
<TOTAL-ASSETS> 647,979,958
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,918,867
<TOTAL-LIABILITIES> 3,918,867
<SENIOR-EQUITY> 77,120,380
<PAID-IN-CAPITAL-COMMON> 461,642,325
<SHARES-COMMON-STOCK> 77,120,380
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<OTHER-INCOME> 0
<EXPENSES-NET> (2,943,382)
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<APPREC-INCREASE-CURRENT> 5,099,275
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<PER-SHARE-NII> .13
<PER-SHARE-GAIN-APPREC> .31
<PER-SHARE-DIVIDEND> (.15)
<PER-SHARE-DISTRIBUTIONS> (.66)
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
