NICHOLAS II INC
NSAR-B, 1997-11-25
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<PAGE>      PAGE  1
000 B000000 09/30/97
000 C000000 0000723455
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0.a
000 J000000 U
001 A000000 NICHOLAS II, INC.
001 B000000 811-3851
001 C000000 4142724650
002 A000000 700 NORTH WATER STREET, SUITE 1010
002 B000000 MILWAUKEE
002 C000000 WI
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002 D020000 4276
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020 A000001 ROBERT W. BAIRD & CO.
020 B000001 39-6037917
020 C000001     95
020 A000002 NATWEST SECURITIES CORPORATION
020 B000002 13-3312778
020 C000002     46
020 A000003 BEAR, STEARNS & CO.
020 B000003 13-4946705
020 C000003     42
020 A000004 CLEARY GULL
020 B000004 39-1567700
020 C000004     42
020 A000005 EDWARDS (A.G.)
020 B000005 43-0895447
020 C000005     28
020 A000006 STANDARD & POORS SECURITIES, INC.
020 B000006 13-2671951
020 C000006     23
<PAGE>      PAGE  2
020 A000007 MORGAN KEEGAN
020 B000007 64-0474907
020 C000007     18
020 A000008 MCDONALD & CO.
020 B000008 34-1391952
020 C000008     18
020 A000009 SALOMON BROTHERS
020 B000009 13-3082694
020 C000009     17
020 A000010 COWEN & CO.
020 B000010 13-5616116
020 C000010     16
021  000000      522
022 A000001 FIRSTAR TRUST COMPANY
022 B000001 39-0281260
022 C000001     98437
022 D000001    100571
022 A000002 FIRST BOSTON
022 B000002 13-5659485
022 C000002    166573
022 D000002      4290
022 A000003 FIRSTAR MONEY CENTER
022 B000003 39-0281225
022 C000003    116430
022 D000003      5475
022 A000004 MARSHALL & ILSLEY
022 B000004 39-1610688
022 C000004    116533
022 D000004         0
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005     43594
022 D000005      2000
022 A000006 MORGAN STANLEY DEAN WITTER DISCOVER
022 B000006 13-2655978
022 C000006     33526
022 D000006         0
022 A000007 ALEX BROWN
022 B000007 52-1319768
022 C000007     20359
022 D000007      8370
022 A000008 MERRILL LYNCH & CO. INC.
022 B000008 39-1035790
022 C000008     19195
022 D000008         0
022 A000009 HAMBRECHT & QUIST INCORPORATED
022 B000009 94-2856935
022 C000009     10129
022 D000009         0
022 A000010 WILLIAM BLAIR
022 B000010 36-2214610
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SIGNATURE   THOMAS J. SAEGER                             
TITLE       EXEC VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000723455
<NAME> NICHOLAS II, INC.
       
<S>                             <C>
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</TABLE>


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