NICHOLAS INCOME FUND INC
NSAR-B, 1998-02-26
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<PAGE>      PAGE  1
000 B000000 12/31/97
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SIGNATURE   THOMAS J. SAEGER                             
TITLE       EXEC VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                        236556831
<INVESTMENTS-AT-VALUE>                       250003379
<RECEIVABLES>                                  5653152
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               255656531
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1450543
<TOTAL-LIABILITIES>                            1450543
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     247492109
<SHARES-COMMON-STOCK>                         68804921
<SHARES-COMMON-PRIOR>                         52650373
<ACCUMULATED-NII-CURRENT>                       722668
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (7434375)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      13425586
<NET-ASSETS>                                 254205988
<DIVIDEND-INCOME>                              1521750
<INTEREST-INCOME>                             17274549
<OTHER-INCOME>                                  524737
<EXPENSES-NET>                                 1104952
<NET-INVESTMENT-INCOME>                       18216084
<REALIZED-GAINS-CURRENT>                       1781466
<APPREC-INCREASE-CURRENT>                      7724030
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     18102607
<DISTRIBUTIONS-OF-GAINS>                             0
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<ACCUMULATED-NII-PRIOR>                         609191
<ACCUMULATED-GAINS-PRIOR>                    (9215841)
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<EXPENSE-RATIO>                                     .5
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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