GOVERNMENT INCOME SECURITIES INC
NSAR-B, 1995-05-01
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<PAGE>      PAGE  1
000 B000000 02/28/95
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<PAGE>      PAGE  2
012 A000001 FEDERATED SERVICES COMPANY
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013 A000001 DELOITTE & TOUCHE LLP
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<PAGE>      PAGE  3
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022 A000005 MORGAN STANLEY CO., INC.
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022 A000006 SMITH BARNEY, INC.
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<PAGE>      PAGE  4
022 C000007   1450000
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SIGNATURE   S. ELLIOT COHAN                              
TITLE       ASST. GEN. COUNCIL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   1                                              
     <NAME>                     Government Income Securities, Inc.             
                                                                               
                                                                               
<PERIOD-TYPE>                   12-mos                                         
<FISCAL-YEAR-END>               Feb-28-1995                                    
<PERIOD-END>                    Feb-28-1995                                    
<INVESTMENTS-AT-COST>           2,996,635,829                                  
<INVESTMENTS-AT-VALUE>          2,977,224,484                                  
<RECEIVABLES>                   85,951,445                                     
<ASSETS-OTHER>                  2,874                                          
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  3,063,178,803                                  
<PAYABLE-FOR-SECURITIES>        132,899,479                                    
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       392,266,050                                    
<TOTAL-LIABILITIES>             525,165,529                                    
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        3,004,227,258                                  
<SHARES-COMMON-STOCK>           296,990,037                                    
<SHARES-COMMON-PRIOR>           393,369,198                                    
<ACCUMULATED-NII-CURRENT>       4,296,058                                      
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         (451,098,697)                                  
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        (19,411,345)                                   
<NET-ASSETS>                    2,538,013,274                                  
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               244,168,572                                    
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  28,411,628                                     
<NET-INVESTMENT-INCOME>         215,756,944                                    
<REALIZED-GAINS-CURRENT>        (192,595,526)                                  
<APPREC-INCREASE-CURRENT>       3,066,135                                      
<NET-CHANGE-FROM-OPS>           26,227,553                                     
<EQUALIZATION>                  (2,212,810)                                    
<DISTRIBUTIONS-OF-INCOME>       209,071,289                                    
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         16,366,043                                     
<NUMBER-OF-SHARES-REDEEMED>     119,737,988                                    
<SHARES-REINVESTED>             6,992,784                                      
<NET-CHANGE-IN-ASSETS>          (1,004,064,757)                                
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (268,712,881)                                  
<OVERDISTRIB-NII-PRIOR>         176,787                                        
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           22,038,188                                     
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 35,213,048                                     
<AVERAGE-NET-ASSETS>            2,935,539,823                                  
<PER-SHARE-NAV-BEGIN>           9.000                                          
<PER-SHARE-NII>                 0.630                                          
<PER-SHARE-GAIN-APPREC>         (0.460)                                        
<PER-SHARE-DIVIDEND>            0.620                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             8.550                                          
<EXPENSE-RATIO>                 97                                             
<AVG-DEBT-OUTSTANDING>          359,514,367                                    
<AVG-DEBT-PER-SHARE>            1.063                                          
                                                                               

</TABLE>


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