FLAGSHIP ADMIRAL FUNDS INC
NSAR-B, 1997-09-08
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<PAGE>      PAGE  1
000 B000000 06/30/97
000 C000000 0000721704
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FLAGSHIP ADMIRAL FUNDS INCORPORATED
001 B000000 811-3770
001 C000000 3129178200
002 A000000 333 WEST WACKER DRIVE
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 1286
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 FLAGSHIP UTILITY INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 THE GOLDEN RAINBOW A JAMES AVISED MUTUAL FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
011 A00AA01 FLAGSHIP FUNDS INC.
011 B00AA01 8-29199
011 C01AA01 DAYTON
011 C02AA01 OH
011 C03AA01 45402
011 C04AA01 2030
013 A00AA01 DELOITTE & TOUCHE
013 B01AA01 DAYTON
013 B02AA01 OH
013 B03AA01 45402
014 A00AA01 JOHN NUVEEN & CO., INC.
014 B00AA01 8-13464
015 A00AA01 CHASE MANHATTAN BANK
015 B00AA01 C
<PAGE>      PAGE  2
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10003
015 E01AA01 X
015 A00AA02 BANKERS TRUST
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
015 A00AA03 NATIONSBANK OF NORTH CAROLINA N.A.
015 B00AA03 S
015 C01AA03 CHARLOTTE
015 C02AA03 NC
015 C03AA03 28255
015 E01AA03 X
015 A00AA04 BANK OF NEW YORK
015 B00AA04 S
015 C01AA04 NEW YORK
015 C02AA04 NY
015 C03AA04 10007
015 E01AA04 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  102
019 C00AA00 NUVEENFUND
020 A000001 ROBERT BAIRD
020 B000001 39-6037917
020 C000001     65
020 A000002 DEAN WITTER
020 B000002 94-1671384
020 C000002     16
020 A000003 J.C. BRADFORD
020 B000003 62-0136910
020 C000003     15
020 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000004 13-5674085
020 C000004     13
020 A000005 SMITH BARNEY
020 B000005 13-1912900
020 C000005     12
020 A000006 PAINE WEBBER
020 B000006 22-2803371
020 C000006     12
020 A000007 EVEREN SECURITIES
020 B000007 34-1542819
020 C000007      6
020 A000008 IFG NETWORK SECURITIES, INC.
020 B000008 59-2765230
020 C000008      4
020 A000009 J.W. CHARLES
<PAGE>      PAGE  3
020 B000009 37-0975072
020 C000009      4
020 A000010 BROADCAST CAPITAL
020 B000010 13-1344415
020 C000010      3
021  000000      167
022 A000001 SMITH BARNEY
022 B000001 13-1912900
022 C000001     31254
022 D000001     28451
022 A000002 CHASE MANHATTAN INVESTMENT SERVICES INC.
022 B000002 13-3538956
022 C000002     28513
022 D000002     29369
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003     10493
022 D000003     38645
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004     22875
022 D000004      3649
022 A000005 ROBERT BAIRD, W & C
022 B000005 39-6037917
022 C000005      4426
022 D000005      4230
022 A000006 FIRST TENNEESSEE BANK
022 B000006 62-0201385
022 C000006      2998
022 D000006       994
022 A000007 PAINE WEBBER GOVT
022 B000007 04-1699435
022 C000007         0
022 D000007      2731
022 A000008 A.G. EDWARDS & SONS
022 B000008 43-0895447
022 C000008         0
022 D000008      1423
022 A000009 CHASE GLOBAL SECURITIES, INC.
022 B000009 34-1728974
022 C000009      1075
022 D000009         0
022 A000010 MORGAN STANLEY
022 B000010 13-2655998
022 C000010       795
022 D000010         0
023 C000000     125734
023 D000000     166863
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
<PAGE>      PAGE  4
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025 D00AA04       0
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026 G020000 N
026 H000000 N
027  000000 Y
077 A000000 Y
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077 C000000 Y
077 Q010000 Y
078  000000 N
080 A00AA00 RELIANCE INSURANCE COMPANY
080 C00AA00    60000
081 A00AA00 Y
081 B00AA00  69
082 A00AA00 N
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008 A000101 NUVEEN ADVISORY CORP
008 B000101 A
008 C000101 801-12353
008 D010101 CHICAGO
008 D020101 IL
008 D030101 60606
<PAGE>      PAGE  5
008 D040101 1286
012 A000101 BOSTON FINANCIAL DATA SERVICES
012 B000101 84-00896
012 C010101 BOSTON
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<PAGE>      PAGE  6
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048 I020100 0.000
048 J010100        0
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048 K010100   500000
048 K020100 0.300
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050  000100 N
051  000100 N
052  000100 N
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053 B000100 Y
053 C000100 Y
054 A000100 Y
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
<PAGE>      PAGE  7
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 Y
055 B000100 Y
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058 A000100 N
059  000100 Y
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060 B000100 Y
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062 E000100   0.0
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062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
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062 Q000100   0.0
062 R000100   0.0
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063 B000100  0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
<PAGE>      PAGE  8
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
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072 M000100        6
072 N000100       34
<PAGE>      PAGE  9
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<PAGE>      PAGE  10
074 X000100      989
074 Y000100        0
075 A000100        0
075 B000100    28245
076  000100     0.00
008 A000201 NUVEEN ADVISORY CORP
008 B000201 A
008 C000201 801-12353
008 D010201 CHICAGO
008 D020201 IL
008 D030201 60606
008 D040201 1286
008 A000202 JAMES INVESTMENT RESEARCH, INC.
008 B000202 S
008 C000202 801-12359
008 D010202 XENIA
008 D020202 OH
008 D030202 45385
012 A000201 BOSTON FINANCIAL DATA SERVICES
012 B000201 84-00896
012 C010201 BOSTON
012 C020201 MA
012 C030201 02101
028 A010200      1030
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<PAGE>      PAGE  11
028 H000200      3034
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030 A000200      3
030 B000200  4.20
030 C000200  0.00
031 A000200      0
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032  000200      3
033  000200      0
034  000200 N
035  000200      0
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
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042 B000200   0
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042 D000200 100
042 E000200   0
042 F000200   0
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043  000200    677
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048 H020200 0.000
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048 I020200 0.000
048 J010200        0
048 J020200 0.000
<PAGE>      PAGE  12
048 K010200        0
048 K020200 0.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 Y
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053 C000200 N
054 A000200 Y
054 B000200 Y
054 C000200 N
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 N
054 H000200 Y
054 I000200 N
054 J000200 Y
054 K000200 N
054 L000200 N
054 M000200 Y
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<PAGE>      PAGE  13
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066 C000200 N
066 D000200 N
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066 F000200 N
066 G000200 N
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068 A000200 N
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069  000200 N
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070 C020200 N
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070 D020200 N
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070 F020200 N
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070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
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070 J020200 N
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070 K020200 Y
070 L010200 Y
070 L020200 Y
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070 M020200 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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SIGNATURE   O. WALTER RENFFTLEN                          
TITLE       V.P. & CONTROLLER   
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 011
   <NAME> FLAGSHIP UTILITY INCOME FUND CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
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<PER-SHARE-DIVIDEND>                             (.64)
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<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 012
   <NAME> FLAGSHIP UTILITY INCOME FUND CLASS C
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
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<PERIOD-END>                               JUN-30-1997
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<NET-CHANGE-FROM-OPS>                             2586
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          301
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             50
<NUMBER-OF-SHARES-REDEEMED>                       (150)
<SHARES-REINVESTED>                                 15
<NET-CHANGE-IN-ASSETS>                           (5600)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (20014)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              141
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    466
<AVERAGE-NET-ASSETS>                              5747
<PER-SHARE-NAV-BEGIN>                            11.08
<PER-SHARE-NII>                                    .61
<PER-SHARE-GAIN-APPREC>                            .38
<PER-SHARE-DIVIDEND>                              (.58)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.49
<EXPENSE-RATIO>                                   1.53
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
Form N-SAR and the financial statements and is qualified in its entirety
by references to such documents.
</LEGEND>
<SERIES>
   <NUMBER> 021
   <NAME> FLAGSHIP GOLDEN RAINBOW CLASS A
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-START>                              JUL-1-1996
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                           126004
<INVESTMENTS-AT-VALUE>                          154724
<RECEIVABLES>                                     3007
<ASSETS-OTHER>                                       6
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  157737
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          554
<TOTAL-LIABILITIES>                                554
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        121330
<SHARES-COMMON-STOCK>                             8139
<SHARES-COMMON-PRIOR>                            10495
<ACCUMULATED-NII-CURRENT>                           72
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           7061
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         28720
<NET-ASSETS>                                    157183
<DIVIDEND-INCOME>                                 1769
<INTEREST-INCOME>                                 6225
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1846
<NET-INVESTMENT-INCOME>                           6148
<REALIZED-GAINS-CURRENT>                          7061
<APPREC-INCREASE-CURRENT>                        12505
<NET-CHANGE-FROM-OPS>                            25714
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         6084
<DISTRIBUTIONS-OF-GAINS>                          3654
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            332
<NUMBER-OF-SHARES-REDEEMED>                      (3180)
<SHARES-REINVESTED>                                492
<NET-CHANGE-IN-ASSETS>                          (27124)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         3654
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             1252
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   2100
<AVERAGE-NET-ASSETS>                            169134
<PER-SHARE-NAV-BEGIN>                            17.56
<PER-SHARE-NII>                                    .66
<PER-SHARE-GAIN-APPREC>                           2.16
<PER-SHARE-DIVIDEND>                             (.68)
<PER-SHARE-DISTRIBUTIONS>                        (.39)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.31
<EXPENSE-RATIO>                                   1.09
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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