PACIFIC AMERICAN INCOME SHARES INC
NSAR-B, 1998-02-26
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SIGNATURE   MARIE K. KARPINSKI                           
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000075398
<NAME> PACIFIC AMERICAN INCOME SHARES
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           140777
<INVESTMENTS-AT-VALUE>                          148106
<RECEIVABLES>                                    21689
<ASSETS-OTHER>                                      16
<OTHER-ITEMS-ASSETS>                             14909
<TOTAL-ASSETS>                                  184720
<PAYABLE-FOR-SECURITIES>                         34412
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-PRIOR>                             9319
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<ACCUMULATED-NET-GAINS>                           1106
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<OTHER-INCOME>                                       0
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<PER-SHARE-DIVIDEND>                            (1.18)
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<EXPENSE-RATIO>                                    .71
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</TABLE>


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