WITTER DEAN AMERICAN VALUE FUND
NSAR-B, 1998-02-26
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<PAGE>      PAGE  1
000 B000000 12/31/97
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SIGNATURE   BARRY FINK                                   
TITLE       VICE PRESIDENT      
 

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

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Dean Witter American Value Fund - Class A
12/31/97
Annual
</LEGEND>
<CIK> 0000314366
<NAME> DEAN WITTER AMERICAN VALUE FUND - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                    3,724,110,609
<INVESTMENTS-AT-VALUE>                   4,245,136,200
<RECEIVABLES>                               46,365,046
<ASSETS-OTHER>                                 122,713
<OTHER-ITEMS-ASSETS>                                 0
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<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Dean Witter American Value Fund - Class B
Annual
12/31/97
</LEGEND>
<CIK> 0000314366
<NAME> DEAN WITTER AMERICAN VALUE FUND - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
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<INVESTMENTS-AT-VALUE>                   4,245,136,200
<RECEIVABLES>                               46,365,046
<ASSETS-OTHER>                                 122,713
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           4,291,623,959
<PAYABLE-FOR-SECURITIES>                   124,542,641
<SENIOR-LONG-TERM-DEBT>                              0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Dean Witter American Value Fund - Class C
Annual
12/31/97
</LEGEND>
<CIK> 0000314366
<NAME> DEAN WITTER AMERICAN VALUE FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
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<INVESTMENTS-AT-VALUE>                   4,245,136,200
<RECEIVABLES>                               46,365,046
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<OTHER-ITEMS-ASSETS>                                 0
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Dean Witter American Value Fund - Class D
Annual
12/31/97
</LEGEND>
<CIK> 0000314366
<NAME> DEAN WITTER AMERICAN VALUE - CLASS D
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
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<INVESTMENTS-AT-VALUE>                   4,245,136,200
<RECEIVABLES>                               46,365,046
<ASSETS-OTHER>                                 122,713
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           4,291,623,959
<PAYABLE-FOR-SECURITIES>                   124,542,641
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                        135,732,459
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 3,481,928,047
<SHARES-COMMON-STOCK>                        1,679,836
<SHARES-COMMON-PRIOR>                                0
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