ALLIANCE BALANCED SHARES INC
NSAR-BT, 1994-09-28
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<PAGE>      PAGE  1
000 B000000 07/31/94
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000 D000000 Y
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000 J000000 A
001 A000000 ALLIANCE BALANCED SHARES, INC.
001 B000000 811-0134
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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SIGNATURE   ALAN WILDSTEIN                               
TITLE       A.VICE PRESIDENT    
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JUL-31-1994
<PERIOD-END>                               JUL-31-1994
<INVESTMENTS-AT-COST>                        177571585
<INVESTMENTS-AT-VALUE>                       182122100
<RECEIVABLES>                                 15995475
<ASSETS-OTHER>                                    6664
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               198124230
<PAYABLE-FOR-SECURITIES>                      19336101
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       549017
<TOTAL-LIABILITIES>                           19885118
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        133349
<SHARES-COMMON-STOCK>                        173202175
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       593850
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                        271595
<ACCUM-APPREC-OR-DEPREC>                       4550515
<NET-ASSETS>                                 178239121
<DIVIDEND-INCOME>                              1796422
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                        3727437
<REALIZED-GAINS-CURRENT>                       1521330
<APPREC-INCREASE-CURRENT>                   (11401870)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (3632549)
<DISTRIBUTIONS-OF-GAINS>                     (3793954)
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<NUMBER-OF-SHARES-REDEEMED>                    2008994
<SHARES-REINVESTED>                             446658
<NET-CHANGE-IN-ASSETS>                       (8521671)
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</TABLE>


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