<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 1031594
000 D000000 N
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000 F000000 Y
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001 A000000 SELIGMAN VALUE FUND SERIES, INC.
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001 C000000 2128501864
002 A000000 100 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C020100 SELIGMAN LARGE-CAP VALUE FUND
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007 C010200 2
007 C020200 SELIGMAN SMALL-CAP VALUE FUND
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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008 A00AA01 J.& W. SELIGMAN & CO. INCORPORATED
008 B00AA01 A
008 C00AA01 801-15798
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10017
011 A00AA01 SELIGMAN FINANCIAL SERVICES, INC.
011 B00AA01 8-25845
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10017
012 A00AA01 SELIGMAN DATA CORP.
012 B00AA01 84-1895
012 C01AA01 NEW YORK
012 C02AA01 NY
<PAGE> PAGE 2
012 C03AA01 10017
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10281
014 A00AA01 SELIGMAN SERVICES, INC.
014 B00AA01 8-47717
015 A00AA01 INVESTORS FIDUCIARY TRUST CO.
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 C04AA01 1307
015 E01AA01 X
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019 A00AA00 Y
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019 C00AA00 JWSELIGMAN
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020 B000001 43-1450530
020 C000001 32
020 A000002 FURMAN SELZ LLC
020 B000002 13-3856626
020 C000002 19
020 A000003 WEEDEN & CO., L.P.
020 B000003 13-3364318
020 C000003 18
020 A000004 ALEX BROWN & SONS INCORPORATED
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020 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH
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020 C000007 11
020 A000008 INSTINET CORP.
020 B000008 13-3443395
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020 A000009 THE CHICAGO CORP.
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020 A000010 CREDIT SUISSE FIRST BOSTON CORP.
020 B000010 13-5659485
020 C000010 8
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022 A000001 FIRST NATIONAL BANK OF CHICAGO-GRAND CAYMAN
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<PAGE> PAGE 3
022 C000001 381700
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022 A000002 BANK OF MONTREAL-TORONTO
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022 A000003 SMITH BARNEY INC.
022 B000003 13-1912900
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022 C000004 5288
022 D000004 0
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022 A000010 OPPENHEIMER & CO., INC.
022 B000010 13-2798343
022 C000010 1405
022 D000010 0
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026 A000000 Y
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<PAGE> PAGE 4
037 00AA00 N
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054 F00AA00 N
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<PAGE> PAGE 5
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE THOMAS G. ROSE
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 113037
<INVESTMENTS-AT-VALUE> 123612
<RECEIVABLES> 1849
<ASSETS-OTHER> 51
<OTHER-ITEMS-ASSETS> 42
<TOTAL-ASSETS> 125554
<PAYABLE-FOR-SECURITIES> 1751
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 353
<TOTAL-LIABILITIES> 2104
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110664
<SHARES-COMMON-STOCK> 4745<F1>
<SHARES-COMMON-PRIOR> 2608<F1>
<ACCUMULATED-NII-CURRENT> 44
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2167
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10575
<NET-ASSETS> 49043<F1>
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<NUMBER-OF-SHARES-REDEEMED> (640)<F1>
<SHARES-REINVESTED> 0<F1>
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<EXPENSE-RATIO> 1.49<F1>
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<FN>
<F1>CLASS A ONLY. ALL OTHER DATA ARE FUND LEVEL.
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 113037
<INVESTMENTS-AT-VALUE> 123612
<RECEIVABLES> 1849
<ASSETS-OTHER> 51
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<TOTAL-LIABILITIES> 2104
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110664
<SHARES-COMMON-STOCK> 4379<F1>
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<ACCUMULATED-NET-GAINS> 2167
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<NET-INVESTMENT-INCOME> (37)<F1>
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<NUMBER-OF-SHARES-REDEEMED> (191)<F1>
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<NET-CHANGE-IN-ASSETS> 72463
<ACCUMULATED-NII-PRIOR> 12
<ACCUMULATED-GAINS-PRIOR> 824
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS B ONLY. ALL OTHER DATA ARE FUND LEVEL.
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 014
<NAME> SELIGMAN LARGE-CAP VALUE FUND CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 113037
<INVESTMENTS-AT-VALUE> 123612
<RECEIVABLES> 1849
<ASSETS-OTHER> 51
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<TOTAL-ASSETS> 125554
<PAYABLE-FOR-SECURITIES> 1751
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 2104
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110664
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<ACCUMULATED-NET-GAINS> 2167
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10575
<NET-ASSETS> 29547<F1>
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<INTEREST-INCOME> 10<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (220)<F1>
<NET-INVESTMENT-INCOME> (24)<F1>
<REALIZED-GAINS-CURRENT> 1344
<APPREC-INCREASE-CURRENT> 7391
<NET-CHANGE-FROM-OPS> 8767
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 2040<F1>
<NUMBER-OF-SHARES-REDEEMED> (303)<F1>
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<NET-CHANGE-IN-ASSETS> 72463
<ACCUMULATED-NII-PRIOR> 12
<ACCUMULATED-GAINS-PRIOR> 824
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 91<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 226<F1>
<AVERAGE-NET-ASSETS> 19767<F1>
<PER-SHARE-NAV-BEGIN> 9.04<F1>
<PER-SHARE-NII> (.01)<F1>
<PER-SHARE-GAIN-APPREC> 1.22<F1>
<PER-SHARE-DIVIDEND> 0<F1>
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<FN>
<F1>CLASS D ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 255480
<INVESTMENTS-AT-VALUE> 251674
<RECEIVABLES> 2453
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 62
<TOTAL-ASSETS> 254189
<PAYABLE-FOR-SECURITIES> 850
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2255
<TOTAL-LIABILITIES> 3105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 249607
<SHARES-COMMON-STOCK> 9248<F1>
<SHARES-COMMON-PRIOR> 8992<F1>
<ACCUMULATED-NII-CURRENT> (1921)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7204
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3806)
<NET-ASSETS> 85194<F1>
<DIVIDEND-INCOME> 282<F1>
<INTEREST-INCOME> 16<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (747)<F1>
<NET-INVESTMENT-INCOME> (449)<F1>
<REALIZED-GAINS-CURRENT> 6567
<APPREC-INCREASE-CURRENT> (19303)
<NET-CHANGE-FROM-OPS> (14657)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 2216<F1>
<NUMBER-OF-SHARES-REDEEMED> (1960)<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 11884
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 637
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 347<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 747<F1>
<AVERAGE-NET-ASSETS> 90549<F1>
<PER-SHARE-NAV-BEGIN> 9.73<F1>
<PER-SHARE-NII> (.05)<F1>
<PER-SHARE-GAIN-APPREC> (.47)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.21<F1>
<EXPENSE-RATIO> 1.66<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS A ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 255480
<INVESTMENTS-AT-VALUE> 251674
<RECEIVABLES> 2453
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 62
<TOTAL-ASSETS> 254189
<PAYABLE-FOR-SECURITIES> 850
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2255
<TOTAL-LIABILITIES> 3105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 249607
<SHARES-COMMON-STOCK> 10340<F1>
<SHARES-COMMON-PRIOR> 9118<F1>
<ACCUMULATED-NII-CURRENT> (1921)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7204
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3806)
<NET-ASSETS> 94461<F1>
<DIVIDEND-INCOME> 297<F1>
<INTEREST-INCOME> 16<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1141)<F1>
<NET-INVESTMENT-INCOME> (828)<F1>
<REALIZED-GAINS-CURRENT> 6567
<APPREC-INCREASE-CURRENT> (19303)
<NET-CHANGE-FROM-OPS> (14657)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 2172<F1>
<NUMBER-OF-SHARES-REDEEMED> (950)<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 11884
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 637
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 529<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1141<F1>
<AVERAGE-NET-ASSETS> 95065<F1>
<PER-SHARE-NAV-BEGIN> 9.69<F1>
<PER-SHARE-NII> (.09)<F1>
<PER-SHARE-GAIN-APPREC> (.46)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.14<F1>
<EXPENSE-RATIO> 2.42<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS B ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 024
<NAME> SELIGMAN SMALL-CAP VALUE FUND CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 255480
<INVESTMENTS-AT-VALUE> 251674
<RECEIVABLES> 2453
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 62
<TOTAL-ASSETS> 254189
<PAYABLE-FOR-SECURITIES> 850
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2255
<TOTAL-LIABILITIES> 3105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 249607
<SHARES-COMMON-STOCK> 7818<F1>
<SHARES-COMMON-PRIOR> 6539<F1>
<ACCUMULATED-NII-CURRENT> (1921)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7204
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3806)
<NET-ASSETS> 71429<F1>
<DIVIDEND-INCOME> 231<F1>
<INTEREST-INCOME> 13<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (888)<F1>
<NET-INVESTMENT-INCOME> (644)<F1>
<REALIZED-GAINS-CURRENT> 6567
<APPREC-INCREASE-CURRENT> (19303)
<NET-CHANGE-FROM-OPS> (14657)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 2705<F1>
<NUMBER-OF-SHARES-REDEEMED> (1426)<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 11884
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 637
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 412<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 888<F1>
<AVERAGE-NET-ASSETS> 74083<F1>
<PER-SHARE-NAV-BEGIN> 9.69<F1>
<PER-SHARE-NII> (.09)<F1>
<PER-SHARE-GAIN-APPREC> (.46)<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.14<F1>
<EXPENSE-RATIO> 2.42<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS D ONLY. ALL OTHER DATA ARE FUND LEVEL.
</FN>
</TABLE>
