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001 A000000 NICHOLAS INCOME FUND, INC.
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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SIGNATURE THOMAS J. SAEGER
TITLE EXEC VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000107822
<NAME> NICHOLAS INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 167,018,002
<INVESTMENTS-AT-VALUE> 165,311,675
<RECEIVABLES> 3,419,341
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 171,713,164
<PAYABLE-FOR-SECURITIES> 3,932,500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 176,256
<TOTAL-LIABILITIES> 4,108,756
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 181,782,720
<SHARES-COMMON-STOCK> 48,351,959
<SHARES-COMMON-PRIOR> 47,428,254
<ACCUMULATED-NII-CURRENT> 4,261,981
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (16,729,805)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,710,488)
<NET-ASSETS> 167,604,408
<DIVIDEND-INCOME> 639,013
<INTEREST-INCOME> 6,823,531
<OTHER-INCOME> 36,866
<EXPENSES-NET> 456,440
<NET-INVESTMENT-INCOME> 7,042,970
<REALIZED-GAINS-CURRENT> 1,140,776
<APPREC-INCREASE-CURRENT> (2,405,569)
<NET-CHANGE-FROM-OPS> 5,778,177
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,427,015
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,368,497
<NUMBER-OF-SHARES-REDEEMED> 4,165,288
<SHARES-REINVESTED> 720,396
<NET-CHANGE-IN-ASSETS> 5,524,469
<ACCUMULATED-NII-PRIOR> 646,026
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 318,085
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 456,440
<AVERAGE-NET-ASSETS> 166,083,664
<PER-SHARE-NAV-BEGIN> $3.42
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> (.03)
<PER-SHARE-DIVIDEND> (.07)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 3.47
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
