STOCK AND BOND FUND, INC.
Supplement to the Prospectus dated December 31, 1994
Effective September 11, 1995, Mr. Anderson and Mr. Keefe have
been added as the Fund's co-portfolio managers. Accordingly
please insert the following at the end of the subsection
entitled "Adviser's Background," which begins on page 8 of the
prospectus:
"Peter R. Anderson has been the Fund's co-portfolio manager
since September, 1995. Mr. Anderson joined Federated Investors
in 1972 as, and is presently, a Senior Vice President of the
Fund's investment adviser. Mr. Anderson is a Chartered
Financial Analyst and received his M.B.A. in Finance from the
University of Wisconsin.
Timothy E. Keefe has been the Fund's co-portfolio manager since
September, 1995. Mr. Keefe joined Federated Investors in 1987
and has been an Assistant Vice President of the Fund's
investment adviser since 1993. Mr. Keefe served as an
Investment Analyst of the investment adviser from 1991 until
1993, and from 1987 until 1991 he acted as a Marketing
Representative in the Broker Dealer Department. Mr. Keefe is a
Chartered Financial Analyst and received his M.B.A. in Business
Administration from the University of Pittsburgh."
Please note, as of September 8, 1995, Mr. Frederick Plautz will
no longer be acting as the Fund's co-portfolio manager.
Accordingly, please delete the fourth paragraph of the
subsection entitled "Adviser's Background."
Finally, please note that Joseph M. Balestrino and Susan M.
Nason will remain as the Fund's co-portfolio managers. The Fund
notified shareholders by a March 8, 1995, supplement to the
prospectus that Susan M. Nason was being added as a co-portfolio
manager to the Fund.
September 25, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated
Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
86101A104
G01407-01 (9/95) CMR509063
