PRINCOR CAPITAL ACCUMULATION FUND INC
NSAR-A, 1997-06-16
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<PAGE>      PAGE  1
000 A000000 04/30/97
000 C000000 0000012603
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
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000 I000000 3.0.a
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001 A000000 PRINCOR CAPITAL ACCUMULATION FUND, INC.
001 B000000 811-01874
001 C000000 5152475476
002 A000000 THE PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
002 C000000 IA
002 D010000 50392
002 D020000 0200
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
020 A000001 NATWEST SECURITIES CORP.
020 B000001 13-3312778
020 C000001     19
020 A000002 CANTOR, FITZGERALD & CO. INC.
020 B000002 95-1786286
020 C000002     15
020 A000003 SALOMON BROTHERS
020 B000003 13-3082694
020 C000003     14
020 A000004 PAINE WEBBER INC.
020 B000004 13-2638166
020 C000004     12
020 A000005 FIDELITY BROKERAGE SERVICES
020 B000005 04-2785576
020 C000005     10
020 A000006 EVEREN SECURITIES INC. (KEMPER)
020 B000006 36-3223831
020 C000006      9
020 A000007 FURMAN SELZ INC.
020 B000007 13-2753731
020 C000007      9
020 A000008 MONTGOMERY SECURITIES
020 B000008 94-1701676
020 C000008      8
020 A000009 ALEX BROWN & SONS
020 B000009 52-0256630
020 C000009      8
020 A000010 ROBERT BRANDT & CO.
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020 B000010 95-2650507
020 C000010      7
021  000000      190
022 A000001 ASSOCIATES CORPORATION OF NORTH AMERICA
022 B000001 74-1494554
022 C000001    834837
022 D000001         0
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 B000002 13-1500700
022 C000002    110542
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022 A000003 MERRILL LYNCH MONEY MARKET SECURITIES
022 B000003 13-2761776
022 C000003     35197
022 D000003         0
022 A000004 CHEVRON OIL FINANCE CO.
022 B000004 25-1215010
022 C000004     14379
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022 B000005 42-1192999
022 C000005     13102
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<PAGE>      PAGE  6
SIGNATURE   A. S. FILEAN                                 
TITLE       V.P. & SECRETARY    
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                      404,935,612
<INVESTMENTS-AT-VALUE>                     488,900,703
<RECEIVABLES>                                1,296,723
<ASSETS-OTHER>                                  29,638
<OTHER-ITEMS-ASSETS>                             2,000
<TOTAL-ASSETS>                             490,229,064
<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                      312,913
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<SHARES-COMMON-PRIOR>                       15,712,496
<ACCUMULATED-NII-CURRENT>                    2,863,988
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     28,086,265
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    83,965,091
<NET-ASSETS>                               489,916,151
<DIVIDEND-INCOME>                            5,920,978
<INTEREST-INCOME>                              331,723
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,695,642)
<NET-INVESTMENT-INCOME>                      4,557,059
<REALIZED-GAINS-CURRENT>                    28,089,676
<APPREC-INCREASE-CURRENT>                   10,370,941
<NET-CHANGE-FROM-OPS>                       43,017,676
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (4,376,310)
<DISTRIBUTIONS-OF-GAINS>                  (60,900,189)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,126,248
<NUMBER-OF-SHARES-REDEEMED>                (1,625,990)
<SHARES-REINVESTED>                          2,498,106
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<ACCUMULATED-NII-PRIOR>                      2,760,161
<ACCUMULATED-GAINS-PRIOR>                   62,707,520
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          963,131
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<GROSS-EXPENSE>                              1,695,642
<AVERAGE-NET-ASSETS>                       481,569,066
<PER-SHARE-NAV-BEGIN>                            27.72
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                           2.31
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                       (3.85)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.16
<EXPENSE-RATIO>                                    .68
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                      404,935,612
<INVESTMENTS-AT-VALUE>                     488,900,703
<RECEIVABLES>                                1,296,723
<ASSETS-OTHER>                                  29,638
<OTHER-ITEMS-ASSETS>                             2,000
<TOTAL-ASSETS>                             490,229,064
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      312,913
<TOTAL-LIABILITIES>                            312,913
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   375,000,807
<SHARES-COMMON-STOCK>                          661,609
<SHARES-COMMON-PRIOR>                          356,559
<ACCUMULATED-NII-CURRENT>                    2,863,988
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     28,086,265
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    83,965,091
<NET-ASSETS>                               489,916,151
<DIVIDEND-INCOME>                            5,920,978
<INTEREST-INCOME>                              331,723
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,695,642)
<NET-INVESTMENT-INCOME>                      4,557,059
<REALIZED-GAINS-CURRENT>                    28,089,676
<APPREC-INCREASE-CURRENT>                   10,370,941
<NET-CHANGE-FROM-OPS>                       43,017,676
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (51,881)
<DISTRIBUTIONS-OF-GAINS>                   (1,471,953)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        274,298
<NUMBER-OF-SHARES-REDEEMED>                   (28,225)
<SHARES-REINVESTED>                             58,977
<NET-CHANGE-IN-ASSETS>                      42,715,028
<ACCUMULATED-NII-PRIOR>                      2,760,161
<ACCUMULATED-GAINS-PRIOR>                   62,707,520
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          963,131
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,695,642
<AVERAGE-NET-ASSETS>                       481,569,066
<PER-SHARE-NAV-BEGIN>                            27.58
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                           2.28
<PER-SHARE-DIVIDEND>                             (.11)
<PER-SHARE-DISTRIBUTIONS>                       (3.85)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              26.02
<EXPENSE-RATIO>                                   1.58
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1997
<PERIOD-END>                               APR-30-1997
<INVESTMENTS-AT-COST>                      404,935,612
<INVESTMENTS-AT-VALUE>                     488,900,703
<RECEIVABLES>                                1,296,723
<ASSETS-OTHER>                                  29,638
<OTHER-ITEMS-ASSETS>                             2,000
<TOTAL-ASSETS>                             490,229,064
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      312,913
<TOTAL-LIABILITIES>                            312,913
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   375,000,807
<SHARES-COMMON-STOCK>                          360,408
<SHARES-COMMON-PRIOR>                           63,541
<ACCUMULATED-NII-CURRENT>                    2,863,988
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     28,086,265
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    83,965,091
<NET-ASSETS>                               489,916,151
<DIVIDEND-INCOME>                            5,920,978
<INTEREST-INCOME>                              331,723
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,695,642)
<NET-INVESTMENT-INCOME>                      4,557,059
<REALIZED-GAINS-CURRENT>                    28,089,676
<APPREC-INCREASE-CURRENT>                   10,370,941
<NET-CHANGE-FROM-OPS>                       43,017,676
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (25,041)
<DISTRIBUTIONS-OF-GAINS>                     (338,789)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        300,294
<NUMBER-OF-SHARES-REDEEMED>                   (17,692)
<SHARES-REINVESTED>                             14,265
<NET-CHANGE-IN-ASSETS>                      42,715,028
<ACCUMULATED-NII-PRIOR>                      2,760,161
<ACCUMULATED-GAINS-PRIOR>                   62,707,520
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          963,131
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,695,642
<AVERAGE-NET-ASSETS>                       481,569,066
<PER-SHARE-NAV-BEGIN>                            27.57
<PER-SHARE-NII>                                    .15
<PER-SHARE-GAIN-APPREC>                           2.27
<PER-SHARE-DIVIDEND>                             (.18)
<PER-SHARE-DISTRIBUTIONS>                       (3.85)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              25.96
<EXPENSE-RATIO>                                   1.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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