NORTHEAST INVESTORS TRUST
NSAR-A, 1997-05-21
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<PAGE>
000 B000000 03/31/97
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002 A000000 50 CONGRESS STREET
002 B000000 BOSTON
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SIGNATURE   ERNEST E. MONRAD                             
TITLE       TRUSTEE             
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                                            6
       
<S>                                               <C>                     
<PERIOD-START>                                   OCT-01-1996
<PERIOD-TYPE>                                     6-MOS
<PERIOD-END>                                     MAR-31-1997         
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<INVESTMENTS-AT-VALUE>                         1,573,220,926
<RECEIVABLES>                                     41,480,996
<ASSETS-OTHER>                                             0
<OTHER-ITEMS-ASSETS>                                       0
<TOTAL-ASSETS>                                 1,614,701,922
<PAYABLE-FOR-SECURITIES>                          10,569,757
<SENIOR-LONG-TERM-DEBT>                                    0
<OTHER-ITEMS-LIABILITIES>                         26,714,883
<TOTAL-LIABILITIES>                               37,284,640
<SENIOR-EQUITY>                                            0
<PAID-IN-CAPITAL-COMMON>                       1,414,149,043
<SHARES-COMMON-STOCK>                            141,143,178
<SHARES-COMMON-PRIOR>                            110,229,375
<ACCUMULATED-NII-CURRENT>                                  0
<OVERDISTRIBUTION-NII>                               276,494
<ACCUMULATED-NET-GAINS>                           17,882,692
<OVERDISTRIBUTION-GAINS>                                   0
<ACCUM-APPREC-OR-DEPREC>                           4,518,863
<NET-ASSETS>                                   1,577,417,282
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<EXPENSES-NET>                                     4,446,637
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<EQUALIZATION>                                             0
<DISTRIBUTIONS-OF-INCOME>                         64,329,376
<DISTRIBUTIONS-OF-GAINS>                                   0
<DISTRIBUTIONS-OTHER>                                      0
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<PER-SHARE-NAV-BEGIN>                                  10.90
<PER-SHARE-NII>                                          .50
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<RETURNS-OF-CAPITAL>                                     .00
<PER-SHARE-NAV-END>                                    11.18
<EXPENSE-RATIO>                                          .64
<AVG-DEBT-OUTSTANDING>                                     0
<AVG-DEBT-PER-SHARE>                                       0
        

</TABLE>


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