NICHOLAS INCOME FUND INC
NSAR-A, 1995-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/95
000 C000000 0000107822
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 NICHOLAS INCOME FUND, INC.
001 B000000 811-216
001 C000000 4142724650
002 A000000 700 N. WATER STREET, SUITE 1010
002 B000000 MILWAUKEE
002 C000000 WI
002 D010000 53202
002 D020000 4276
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
020 A000001 LAZARD FRERES & CO.
020 B000001 13-5545100
020 C000001     10
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       10
022 A000001 FIRSTAR TRUST COMPANY
022 B000001 39-0281260
022 C000001     32280
022 D000001     33473
022 A000002 RODMAN & RENSHAW, INC.
<PAGE>      PAGE  2
022 B000002 36-2679547
022 C000002     25560
022 D000002     27719
022 A000003 FIRSTAR INVESTMENT DEPARTMENT
022 B000003 39-0281225
022 C000003     28208
022 D000003      6990
022 A000004 MARSHALL & ILSLEY
022 B000004 39-1610688
022 C000004     14905
022 D000004      1992
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005      6473
022 D000005         0
022 A000006 SIEDLER AMDEC SECURITIES
022 B000006 95-2581813
022 C000006      2033
022 D000006         0
022 A000007 FIRST BOSTON
022 B000007 13-5659485
022 C000007      1988
022 D000007         0
022 A000008 MCDONALD & CO.
022 B000008 34-1391952
022 C000008       750
022 D000008         0
022 C000009         0
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<PAGE>      PAGE  3
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SIGNATURE   THOMAS J. SAEGER                             
TITLE       EXEC VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               JUN-30-1995
<INVESTMENTS-AT-COST>                      154,186,427
<INVESTMENTS-AT-VALUE>                     153,137,208
<RECEIVABLES>                                5,442,080
<ASSETS-OTHER>                                  22,085
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             158,601,373
<PAYABLE-FOR-SECURITIES>                     2,579,000
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      166,928
<TOTAL-LIABILITIES>                          2,745,928
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   171,846,432
<SHARES-COMMON-STOCK>                       45,436,562
<SHARES-COMMON-PRIOR>                       43,948,160
<ACCUMULATED-NII-CURRENT>                    3,916,930
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (18,226,407)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,681,510)
<NET-ASSETS>                               155,855,445
<DIVIDEND-INCOME>                              620,346
<INTEREST-INCOME>                            6,180,098
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 441,078
<NET-INVESTMENT-INCOME>                      6,359,366
<REALIZED-GAINS-CURRENT>                   (1,860,184)
<APPREC-INCREASE-CURRENT>                    8,542,844
<NET-CHANGE-FROM-OPS>                       13,042,026
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    3,181,873
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      4,285,419
<NUMBER-OF-SHARES-REDEEMED>                  3,484,960
<SHARES-REINVESTED>                            687,943
<NET-CHANGE-IN-ASSETS>                      14,936,260
<ACCUMULATED-NII-PRIOR>                        739,437
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          291,753
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                441,078
<AVERAGE-NET-ASSETS>                       146,046,123
<PER-SHARE-NAV-BEGIN>                             3.21
<PER-SHARE-NII>                                   0.14
<PER-SHARE-GAIN-APPREC>                           0.15
<PER-SHARE-DIVIDEND>                              0.07
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               3.43
<EXPENSE-RATIO>                                   0.60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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