<PAGE> PAGE 1
000 B000000 01/31/2000
000 C000000 764624
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 SMITH BARNEY INCOME FUNDS
001 B000000 811-4254
001 C000000 2128166556
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 7
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C020400 MUNICIPAL HIGH INCOME FUND
007 C030400 N
007 C010500 5
007 C020500 EXCHANGE RESERVE
007 C030500 N
007 C010600 6
007 C020600 CONVERTIBLE FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C020800 HIGH INCOME FUND
007 C030800 N
007 C010900 9
007 C020900 SB BALANCED FUND
007 C030900 N
007 C011000 10
007 C021000 DIVERSIFIED STRATEGIC INCOME FUND
007 C031000 N
007 C011100 11
007 C021100 TOTAL RETURN BOND FUND
007 C031100 N
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
<PAGE> PAGE 2
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
008 A00AA01 SSB CITI FUND MANAGEMENT LLC.
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10013
010 A00AA01 SSB CITI FUND MANAGEMENT LLC.
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10013
011 A00AA01 CFBDS, INC.
011 B00AA01 8-00000000
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
011 C04AA01 5408
012 A00AA01 PFPC GLOBAL FUND SERVICES
012 B00AA01 84-0000000
012 C01AA01 PROVIDENCE
012 C02AA01 RI
012 C03AA01 02940
012 C04AA01 9699
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 167
019 C00AA00 BARNEY0000
020 A000001 GOLDMAN SACHS
020 B000001 13-5108880
020 C000001 39
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000002 13-5674085
020 C000002 33
<PAGE> PAGE 3
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 29
020 A000004 OPPONHEIMER& CO. INC.
020 B000004 13-2527171
020 C000004 21
020 A000005 FURMAN SELZ MAGER DIETZ
020 B000005 13-3856626
020 C000005 17
020 A000006 BERSTEIN (SANFORD) & CO.
020 B000006 13-2625874
020 C000006 15
020 A000007 BEAR STEARNS
020 B000007 13-3299429
020 C000007 14
020 A000008 CIBC
020 B000008 N/A
020 C000008 14
020 A000009 SALOMON SMITH BARNEY
020 B000009 11-3777308
020 C000009 12
020 A000010 ABN AMBRO BANK
020 B000010 13-3227945
020 C000010 9
021 000000 203
022 A000001 CIBC OPPENHEIMER
022 B000001 N/A
022 C000001 7014985
022 D000001 13
022 A000002 CS FIRST BOSTON
022 B000002 13-5659485
022 C000002 4469227
022 D000002 140621
022 A000003 MORGAN STANLEYAL
022 B000003 13-2655998
022 C000003 4165850
022 D000003 312349
022 A000004 PAINE WEBBER
022 B000004 13-2638166
022 C000004 2538439
022 D000004 254677
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 2013000
022 D000005 169972
022 A000006 GREENWICH CAPITAL PARTNERS
022 B000006 N/A
022 C000006 926961
022 D000006 101424
022 A000007 PARIBUST BOSTON
022 B000007 13-3235334
<PAGE> PAGE 4
022 C000007 819409
022 D000007 8366
022 A000008 JP MORGAN SECURITIES
022 B000008 13-3224016
022 C000008 445718
022 D000008 270701
022 A000009 GRANCHAETER
022 B000009 N/A
022 C000009 503522
022 D000009 0
022 A000010 BAKLEYS BANK
022 B000010 N/A
022 C000010 483774
022 D000010 6833
023 C000000 23380885
023 D000000 1264956
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 Y
077 B000000 Y
077 O000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE CO.
080 C00AA00 120000
081 A00AA00 Y
081 B00AA00 167
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
<PAGE> PAGE 5
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 0
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 0
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
<PAGE> PAGE 6
072 R000100 0
072 S000100 0
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 0
072 Y000100 0
072 Z000100 0
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 0
074 U010100 0
074 U020100 0
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 0
074 Y000100 0
015 A000401 PNC BANK
015 B000401 C
015 C010401 PHILADELPHIA
015 C020401 PA
015 C030401 19103
015 E010401 X
028 A010400 8472
028 A020400 1558
028 A030400 0
028 A040400 17243
028 B010400 6884
028 B020400 1526
028 B030400 0
028 B040400 20610
028 C010400 8316
<PAGE> PAGE 7
028 C020400 0
028 C030400 0
028 C040400 16709
028 D010400 14535
028 D020400 4304
028 D030400 0
028 D040400 19272
028 E010400 21447
028 E020400 1485
028 E030400 0
028 E040400 38550
028 F010400 8247
028 F020400 1499
028 F030400 0
028 F040400 21133
028 G010400 67901
028 G020400 10372
028 G030400 0
028 G040400 133517
028 H000400 49040
029 000400 Y
030 A000400 42
030 B000400 4.50
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 42
034 000400 Y
035 000400 98
036 A000400 Y
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 1228
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.400
<PAGE> PAGE 8
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 99.1
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 24.7
<PAGE> PAGE 9
064 A000400 Y
064 B000400 Y
065 000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 106711
071 B000400 166822
071 C000400 589282
071 D000400 18
072 A000400 6
072 B000400 20097
072 C000400 0
<PAGE> PAGE 10
072 D000400 0
072 E000400 0
072 F000400 1200
072 G000400 600
072 H000400 0
072 I000400 115
072 J000400 15
072 K000400 0
072 L000400 32
072 M000400 14
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 15
072 S000400 9
072 T000400 1228
072 U000400 0
072 V000400 0
072 W000400 39
072 X000400 3267
072 Y000400 0
072 Z000400 16830
072AA000400 319
072BB000400 0
072CC010400 0
072CC020400 53921
072DD010400 8243
072DD020400 7963
072EE000400 1972
073 A010400 0.4900
073 A020400 0.4400
073 B000400 0.0500
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 530840
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 367
074 K000400 35
074 L000400 7727
074 M000400 0
074 N000400 538969
074 O000400 0
074 P000400 8
074 Q000400 0
<PAGE> PAGE 11
074 R010400 3408
074 R020400 0
074 R030400 0
074 R040400 0
074 S000400 0
074 T000400 535553
074 U010400 17816
074 U020400 16797
074 V010400 15.47
074 V020400 15.48
074 W000400 0.0000
074 X000400 0
074 Y000400 0
075 A000400 0
075 B000400 592615
076 000400 0.00
015 A000501 PNC BANK
015 B000501 C
015 C010501 PHILIDELPHIA
015 C020501 PA
015 C030501 19103
015 E010501 X
028 A010500 71865
028 A020500 376
028 A030500 0
028 A040500 67577
028 B010500 53104
028 B020500 322
028 B030500 0
028 B040500 47892
028 C010500 74823
028 C020500 332
028 C030500 0
028 C040500 73027
028 D010500 104559
028 D020500 524
028 D030500 0
028 D040500 90730
028 E010500 89319
028 E020500 811
028 E030500 0
028 E040500 81802
028 F010500 159169
028 F020500 351
028 F030500 0
028 F040500 153546
028 G010500 552839
028 G020500 2716
028 G030500 0
028 G040500 514574
028 H000500 0
<PAGE> PAGE 12
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 1000000
048 A020500 0.003
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
<PAGE> PAGE 13
048 K020500 0.000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 2.2
062 I000500 94.1
062 J000500 3.7
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 11
063 B000500 0.0
064 A000500 Y
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 Y
069 000500 Y
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
<PAGE> PAGE 14
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 4524
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 247
072 G000500 164
072 H000500 0
072 I000500 61
072 J000500 14
072 K000500 0
072 L000500 17
072 M000500 6
072 N000500 59
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 23
072 S000500 1
072 T000500 411
072 U000500 0
072 V000500 0
072 W000500 5
072 X000500 1008
072 Y000500 0
072 Z000500 3516
072AA000500 0
072BB000500 0
072CC010500 0
072CC020500 0
072DD010500 3516
072DD020500 0
072EE000500 0
073 A010500 0.0430
<PAGE> PAGE 15
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 1
074 B000500 0
074 C000500 190194
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 5
074 M000500 333
074 N000500 190533
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 447
074 S000500 0
074 T000500 190086
074 U010500 149754
074 U020500 40352
074 V010500 1.00
074 V020500 0.00
074 W000500 1.0007
074 X000500 7102
074 Y000500 0
075 A000500 30079
075 B000500 0
076 000500 0.00
015 A000601 PNC BANK
015 B000601 C
015 C010601 PHILADELPHIA
015 C020601 PA
015 C030601 19103
015 E010601 X
028 A010600 1273
028 A020600 207
028 A030600 0
028 A040600 1727
028 B010600 782
028 B020600 126
028 B030600 0
028 B040600 1464
028 C010600 804
<PAGE> PAGE 16
028 C020600 0
028 C030600 0
028 C040600 1297
028 D010600 4240
028 D020600 243
028 D030600 0
028 D040600 1639
028 E010600 420
028 E020600 112
028 E030600 0
028 E040600 2782
028 F010600 440
028 F020600 107
028 F030600 0
028 F040600 2407
028 G010600 7959
028 G020600 795
028 G030600 0
028 G040600 11316
028 H000600 1076
029 000600 Y
030 A000600 1
030 B000600 5.00
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
033 000600 1
034 000600 Y
035 000600 12
036 A000600 Y
036 B000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 Y
041 000600 Y
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 104
044 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.500
<PAGE> PAGE 17
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 3.1
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 53.0
062 Q000600 0.0
062 R000600 45.3
063 A000600 0
063 B000600 7.8
064 A000600 N
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
<PAGE> PAGE 18
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 Y
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 124294
071 B000600 117065
071 C000600 125289
071 D000600 93
072 A000600 6
072 B000600 2566
072 C000600 1546
072 D000600 0
072 E000600 0
072 F000600 351
072 G000600 141
072 H000600 0
072 I000600 35
072 J000600 3
072 K000600 0
072 L000600 19
072 M000600 9
<PAGE> PAGE 19
072 N000600 52
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 14
072 S000600 9
072 T000600 104
072 U000600 0
072 V000600 0
072 W000600 8
072 X000600 745
072 Y000600 0
072 Z000600 3367
072AA000600 0
072BB000600 13428
072CC010600 5488
072CC020600 0
072DD010600 520
072DD020600 2672
072EE000600 0
073 A010600 0.3200
073 A020600 1.2200
073 B000600 0.0000
073 C000600 0.0000
074 A000600 73
074 B000600 4116
074 C000600 0
074 D000600 71047
074 E000600 47157
074 F000600 13686
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 994
074 K000600 0
074 L000600 898
074 M000600 3827
074 N000600 141798
074 O000600 3654
074 P000600 76
074 Q000600 0
074 R010600 3876
074 R020600 0
074 R030600 0
074 R040600 0
074 S000600 0
074 T000600 134192
074 U010600 1515
074 U020600 7752
074 V010600 14.42
074 V020600 14.38
<PAGE> PAGE 20
074 W000600 0.0000
074 X000600 4025
074 Y000600 0
075 A000600 0
075 B000600 138919
076 000600 0.00
015 A000801 PNC BANK
015 B000801 C
015 C010801 PHILADELPHIA
015 C020801 PA
015 C030801 19103
015 E010801 X
028 A010800 81501
028 A020800 5255
028 A030800 0
028 A040800 65551
028 B010800 39100
028 B020800 4877
028 B030800 0
028 B040800 92808
028 C010800 32612
028 C020800 0
028 C030800 0
028 C040800 54727
028 D010800 132011
028 D020800 10048
028 D030800 0
028 D040800 69907
028 E010800 65528
028 E020800 4780
028 E030800 0
028 E040800 157612
028 F010800 100291
028 F020800 4567
028 F030800 0
028 F040800 90078
028 G010800 451043
028 G020800 29527
028 G030800 0
028 G040800 530683
028 H000800 239784
029 000800 Y
030 A000800 396
030 B000800 4.50
030 C000800 0.00
031 A000800 396
031 B000800 0
032 000800 0
033 000800 0
034 000800 Y
035 000800 967
<PAGE> PAGE 21
036 A000800 Y
036 B000800 0
037 000800 N
038 000800 0
039 000800 N
040 000800 Y
041 000800 Y
042 A000800 0
042 B000800 0
042 C000800 0
042 D000800 0
042 E000800 0
042 F000800 0
042 G000800 100
042 H000800 0
043 000800 3998
044 000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.500
048 A010800 0
048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
049 000800 N
050 000800 N
051 000800 N
052 000800 N
053 A000800 N
054 A000800 Y
054 B000800 Y
054 C000800 Y
<PAGE> PAGE 22
054 D000800 N
054 E000800 N
054 F000800 N
054 G000800 Y
054 H000800 Y
054 I000800 N
054 J000800 Y
054 K000800 N
054 L000800 Y
054 M000800 Y
054 N000800 N
054 O000800 N
055 A000800 Y
055 B000800 N
056 000800 N
057 000800 N
058 A000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 1000
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 3.6
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 95.1
062 Q000800 0.0
062 R000800 1.3
063 A000800 0
063 B000800 7.0
064 A000800 Y
064 B000800 N
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
<PAGE> PAGE 23
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 Y
070 I020800 N
070 J010800 Y
070 J020800 Y
070 K010800 N
070 K020800 N
070 L010800 Y
070 L020800 Y
070 M010800 Y
070 M020800 Y
070 N010800 Y
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 529544
071 B000800 625967
071 C000800 1536926
071 D000800 34
072 A000800 6
072 B000800 87134
072 C000800 1253
072 D000800 0
072 E000800 0
072 F000800 4069
072 G000800 1627
072 H000800 0
072 I000800 523
072 J000800 53
072 K000800 0
072 L000800 422
072 M000800 12
072 N000800 95
<PAGE> PAGE 24
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 10
072 S000800 4
072 T000800 3998
072 U000800 0
072 V000800 0
072 W000800 11
072 X000800 10824
072 Y000800 0
072 Z000800 77563
072AA000800 0
072BB000800 47606
072CC010800 0
072CC020800 1433
072DD010800 21705
072DD020800 52303
072EE000800 0
073 A010800 0.4800
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 55382
074 C000800 0
074 D000800 1460393
074 E000800 6579
074 F000800 1292
074 G000800 0
074 H000800 0
074 I000800 11366
074 J000800 6332
074 K000800 0
074 L000800 41775
074 M000800 0
074 N000800 1583119
074 O000800 10914
074 P000800 928
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 1509
074 S000800 0
074 T000800 1569768
074 U010800 43044
074 U020800 113701
074 V010800 10.00
074 V020800 0.00
074 W000800 0.0000
<PAGE> PAGE 25
074 X000800 61502
074 Y000800 87048
075 A000800 0
075 B000800 1609055
076 000800 0.00
015 A000901 PNC BANK
015 B000901 C
015 C010901 PHILADELPHIA
015 C020901 PA
015 C030901 19103
015 E010901 X
028 A010900 10992
028 A020900 0
028 A030900 0
028 A040900 26457
028 B010900 14377
028 B020900 4529
028 B030900 0
028 B040900 28403
028 C010900 11153
028 C020900 0
028 C030900 0
028 C040900 22308
028 D010900 18586
028 D020900 4157
028 D030900 0
028 D040900 28648
028 E010900 19936
028 E020900 4405
028 E030900 0
028 E040900 34850
028 F010900 14148
028 F020900 0
028 F030900 0
028 F040900 27834
028 G010900 89192
028 G020900 13091
028 G030900 0
028 G040900 168500
028 H000900 76092
029 000900 Y
030 A000900 82
030 B000900 5.00
030 C000900 0.00
031 A000900 82
031 B000900 0
032 000900 0
033 000900 0
034 000900 Y
035 000900 75
036 A000900 Y
<PAGE> PAGE 26
036 B000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 Y
041 000900 Y
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 2460
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.450
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
<PAGE> PAGE 27
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
066 A000900 Y
066 E000900 Y
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 Y
070 K010900 N
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 Y
070 N010900 Y
070 N020900 Y
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 Y
070 Q020900 N
<PAGE> PAGE 28
070 R010900 Y
070 R020900 N
071 A000900 136545
071 B000900 246005
071 C000900 857084
071 D000900 19
072 A000900 6
072 B000900 15889
072 C000900 2576
072 D000900 0
072 E000900 0
072 F000900 1980
072 G000900 880
072 H000900 0
072 I000900 456
072 J000900 22
072 K000900 0
072 L000900 123
072 M000900 8
072 N000900 49
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 14
072 S000900 9
072 T000900 2460
072 U000900 0
072 V000900 0
072 W000900 20
072 X000900 6021
072 Y000900 0
072 Z000900 12444
072AA000900 27661
072BB000900 0
072CC010900 7836
072CC020900 0
072DD010900 4788
072DD020900 6339
072EE000900 4875
073 A010900 0.2000
073 A020900 0.1700
073 B000900 0.0800
073 C000900 0.0000
074 A000900 0
074 B000900 16384
074 C000900 0
074 D000900 317494
074 E000900 36
074 F000900 522862
074 G000900 0
074 H000900 0
<PAGE> PAGE 29
074 I000900 0
074 J000900 772
074 K000900 0
074 L000900 7857
074 M000900 85241
074 N000900 950646
074 O000900 5890
074 P000900 451
074 Q000900 0
074 R010900 85645
074 R020900 0
074 R030900 0
074 R040900 0
074 S000900 0
074 T000900 858660
074 U010900 25131
074 U020900 34692
074 V010900 14.38
074 V020900 14.44
074 W000900 0.0000
074 X000900 58
074 Y000900 0
075 A000900 0
075 B000900 870304
076 000900 0.00
015 A001001 CHASE MANHATTAN BANK
015 B001001 C
015 C011001 BROOKLYN
015 C021001 NY
015 C031001 11245
015 E011001 X
028 A011000 138778
028 A021000 7378
028 A031000 0
028 A041000 189302
028 B011000 132939
028 B021000 7308
028 B031000 0
028 B041000 191211
028 C011000 119827
028 C021000 7154
028 C031000 0
028 C041000 189849
028 D011000 124769
028 D021000 6964
028 D031000 0
028 D041000 155810
028 E011000 111133
028 E021000 6785
028 E031000 0
028 E041000 197055
<PAGE> PAGE 30
028 F011000 103141
028 F021000 6521
028 F031000 0
028 F041000 160459
028 G011000 730587
028 G021000 42110
028 G031000 0
028 G041000 1083686
028 H001000 668756
029 001000 Y
030 A001000 612
030 B001000 4.50
030 C001000 0.00
031 A001000 0
031 B001000 0
032 001000 0
033 001000 612
034 001000 Y
035 001000 1531
036 A001000 Y
036 B001000 0
037 001000 N
038 001000 0
039 001000 N
040 001000 Y
041 001000 Y
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 0
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 0
043 001000 7515
044 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.650
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
<PAGE> PAGE 31
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 N
055 A001000 N
055 B001000 N
056 001000 N
057 001000 N
058 A001000 N
059 001000 N
060 A001000 Y
060 B001000 Y
061 001000 1000
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 24.0
062 M001000 5.4
062 N001000 50.8
062 O001000 0.0
062 P001000 28.3
062 Q001000 17.5
062 R001000 0.4
063 A001000 0
063 B001000 6.5
064 A001000 N
064 B001000 N
066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
<PAGE> PAGE 32
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 Y
070 D011000 N
070 D021000 N
070 E011000 Y
070 E021000 Y
070 F011000 N
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 Y
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 Y
070 M011000 Y
070 M021000 Y
070 N011000 Y
070 N021000 Y
070 O011000 Y
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 Y
070 Q021000 N
070 R011000 Y
070 R021000 N
071 A001000 1250240
071 B001000 1832851
071 C001000 2426416
071 D001000 0
072 A001000 6
072 B001000 99090
072 C001000 572
072 D001000 0
072 E001000 0
072 F001000 5717
072 G001000 2541
072 H001000 0
072 I001000 793
072 J001000 218
<PAGE> PAGE 33
072 K001000 0
072 L001000 0
072 M001000 10
072 N001000 51
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 14
072 S001000 12
072 T001000 7515
072 U001000 0
072 V001000 83
072 W001000 25
072 X001000 16979
072 Y001000 0
072 Z001000 82683
072AA001000 0
072BB001000 35081
072CC011000 0
072CC021000 41188
072DD011000 16767
072DD021000 64958
072EE001000 0
073 A011000 0.2600
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 21501
074 B001000 0
074 C001000 0
074 D001000 1946280
074 E001000 8994
074 F001000 827
074 G001000 0
074 H001000 0
074 I001000 403173
074 J001000 5642
074 K001000 0
074 L001000 45421
074 M001000 102743
074 N001000 2534581
074 O001000 125348
074 P001000 0
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 105742
074 S001000 0
074 T001000 2303491
074 U011000 67912
<PAGE> PAGE 34
074 U021000 249768
074 V011000 7.24
074 V021000 0.00
074 W001000 0.0000
074 X001000 101584
074 Y001000 661495
075 A001000 0
075 B001000 2503705
076 001000 0.00
015 A001101 PNC BANK
015 B001101 C
015 C011101 PHILADELPHIA
015 C021101 PA
015 C031101 19103
015 E011101 X
028 A011100 1195
028 A021100 572
028 A031100 0
028 A041100 4974
028 B011100 1617
028 B021100 555
028 B031100 0
028 B041100 4995
028 C011100 912
028 C021100 542
028 C031100 0
028 C041100 4657
028 D011100 1387
028 D021100 519
028 D031100 0
028 D041100 8569
028 E011100 2492
028 E021100 495
028 E031100 0
028 E041100 8671
028 F011100 840
028 F021100 495
028 F031100 0
028 F041100 6506
028 G011100 8443
028 G021100 3178
028 G031100 0
028 G041100 38372
028 H001100 4193
029 001100 Y
030 A001100 21
030 B001100 4.50
030 C001100 1.00
031 A001100 21
031 B001100 0
032 001100 0
<PAGE> PAGE 35
033 001100 0
034 001100 Y
035 001100 218
036 A001100 Y
036 B001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 Y
041 001100 Y
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 100
042 H001100 0
043 001100 444
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.650
048 A011100 0
048 A021100 0.000
048 B011100 0
048 B021100 0.000
048 C011100 0
048 C021100 0.000
048 D011100 0
048 D021100 0.000
048 E011100 0
048 E021100 0.000
048 F011100 0
048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 Y
053 A001100 N
<PAGE> PAGE 36
055 A001100 Y
055 B001100 N
056 001100 N
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
061 001100 1000
062 A001100 Y
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 9.5
062 O001100 50.5
062 P001100 49.5
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 24.0
064 A001100 Y
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
<PAGE> PAGE 37
070 H021100 N
070 I011100 Y
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 N
070 L021100 N
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 N
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 10775
071 B001100 33740
071 C001100 145919
071 D001100 7
072 A001100 6
072 B001100 5743
072 C001100 0
072 D001100 0
072 E001100 0
072 F001100 489
072 G001100 0
072 H001100 0
072 I001100 59
072 J001100 4
072 K001100 0
072 L001100 36
072 M001100 7
072 N001100 51
072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 14
072 S001100 10
072 T001100 444
072 U001100 0
072 V001100 0
072 W001100 8
072 X001100 1122
072 Y001100 0
072 Z001100 4621
<PAGE> PAGE 38
072AA001100 0
072BB001100 2521
072CC011100 0
072CC021100 4001
072DD011100 1398
072DD021100 2959
072EE001100 0
073 A011100 0.3325
073 A021100 0.0000
073 B001100 0.0000
073 C001100 0.0000
074 A001100 0
074 B001100 0
074 C001100 0
074 D001100 127905
074 E001100 0
074 F001100 0
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 40
074 K001100 0
074 L001100 3009
074 M001100 0
074 N001100 130954
074 O001100 0
074 P001100 94
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 1525
074 S001100 0
074 T001100 129335
074 U011100 3582
074 U021100 9080
074 V011100 0.00
074 V021100 0.00
074 W001100 0.0000
074 X001100 6875
074 Y001100 0
075 A001100 0
075 B001100 148564
076 001100 0.00
SIGNATURE PAUL BROOK
TITLE CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> BALANCED FUND
<SERIES>
<NUMBER> 9
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 746,817,660
<INVESTMENTS-AT-VALUE> 856,776,066
<RECEIVABLES> 93,869,712
<ASSETS-OTHER> 278
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 950,646,056
<PAYABLE-FOR-SECURITIES> 5,890,420
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 86,096,071
<TOTAL-LIABILITIES> 91,986,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 715,099,001
<SHARES-COMMON-STOCK> 25,131,159
<SHARES-COMMON-PRIOR> 22,425,238
<ACCUMULATED-NII-CURRENT> 5,854,448
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27,550,415
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,155,701
<NET-ASSETS> 858,659,565
<DIVIDEND-INCOME> 2,576,441
<INTEREST-INCOME> 15,888,546
<OTHER-INCOME> 0
<EXPENSES-NET> 6,021,223
<NET-INVESTMENT-INCOME> 12,443,764
<REALIZED-GAINS-CURRENT> 27,661,159
<APPREC-INCREASE-CURRENT> 7,835,812
<NET-CHANGE-FROM-OPS> 47,940,735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,788,189
<DISTRIBUTIONS-OF-GAINS> 1,913,897
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,065,629
<NUMBER-OF-SHARES-REDEEMED> 2,750,537
<SHARES-REINVESTED> 390,829
<NET-CHANGE-IN-ASSETS> (34,278,162)
<ACCUMULATED-NII-PRIOR> 4,537,718
<ACCUMULATED-GAINS-PRIOR> 4,764,264
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,860,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,021,223
<AVERAGE-NET-ASSETS> 337,135,602
<PER-SHARE-NAV-BEGIN> 13.86
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> 0.57
<PER-SHARE-DIVIDEND> 0.20
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.38
<EXPENSE-RATIO> 1.05
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> BALANCED FUND
<SERIES>
<NUMBER> 9
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 746,817,660
<INVESTMENTS-AT-VALUE> 856,776,066
<RECEIVABLES> 93,869,712
<ASSETS-OTHER> 278
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 950,646,056
<PAYABLE-FOR-SECURITIES> 5,890,420
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 86,096,071
<TOTAL-LIABILITIES> 91,986,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 715,099,001
<SHARES-COMMON-STOCK> 33,424,432
<SHARES-COMMON-PRIOR> 41,121,027
<ACCUMULATED-NII-CURRENT> 5,854,448
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27,550,415
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,155,701
<NET-ASSETS> 858,659,565
<DIVIDEND-INCOME> 2,576,441
<INTEREST-INCOME> 15,888,546
<OTHER-INCOME> 0
<EXPENSES-NET> 6,021,223
<NET-INVESTMENT-INCOME> 12,443,764
<REALIZED-GAINS-CURRENT> 27,661,159
<APPREC-INCREASE-CURRENT> 7,835,812
<NET-CHANGE-FROM-OPS> 47,940,735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,158,280
<DISTRIBUTIONS-OF-GAINS> 2,873,042
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 924,664
<NUMBER-OF-SHARES-REDEEMED> 9,144,117
<SHARES-REINVESTED> 522,858
<NET-CHANGE-IN-ASSETS> (34,278,162)
<ACCUMULATED-NII-PRIOR> 4,537,718
<ACCUMULATED-GAINS-PRIOR> 4,764,264
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,860,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,021,223
<AVERAGE-NET-ASSETS> 517,612,736
<PER-SHARE-NAV-BEGIN> 13.82
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.57
<PER-SHARE-DIVIDEND> 0.17
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.33
<EXPENSE-RATIO> 1.54
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> BALANCED FUND
<SERIES>
<NUMBER> 9
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 746,817,660
<INVESTMENTS-AT-VALUE> 856,776,066
<RECEIVABLES> 93,869,712
<ASSETS-OTHER> 278
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 950,646,056
<PAYABLE-FOR-SECURITIES> 5,890,420
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 86,096,071
<TOTAL-LIABILITIES> 91,986,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 715,099,001
<SHARES-COMMON-STOCK> 848,349
<SHARES-COMMON-PRIOR> 542,819
<ACCUMULATED-NII-CURRENT> 5,854,448
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27,550,415
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,155,701
<NET-ASSETS> 858,659,565
<DIVIDEND-INCOME> 2,576,441
<INTEREST-INCOME> 15,888,546
<OTHER-INCOME> 0
<EXPENSES-NET> 6,021,223
<NET-INVESTMENT-INCOME> 12,443,764
<REALIZED-GAINS-CURRENT> 27,661,159
<APPREC-INCREASE-CURRENT> 7,835,812
<NET-CHANGE-FROM-OPS> 47,940,735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 107,146
<DISTRIBUTIONS-OF-GAINS> 54,117
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 362,997
<NUMBER-OF-SHARES-REDEEMED> 68,010
<SHARES-REINVESTED> 10,543
<NET-CHANGE-IN-ASSETS> (34,278,162)
<ACCUMULATED-NII-PRIOR> 4,537,718
<ACCUMULATED-GAINS-PRIOR> 4,764,264
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,860,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,021,223
<AVERAGE-NET-ASSETS> 9,478,883
<PER-SHARE-NAV-BEGIN> 13.83
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 0.58
<PER-SHARE-DIVIDEND> 0.15
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.35
<EXPENSE-RATIO> 1.80
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> BALANCED FUND
<SERIES>
<NUMBER> 9
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 746,817,660
<INVESTMENTS-AT-VALUE> 856,776,066
<RECEIVABLES> 93,869,712
<ASSETS-OTHER> 278
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 950,646,056
<PAYABLE-FOR-SECURITIES> 5,890,420
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 86,096,071
<TOTAL-LIABILITIES> 91,986,491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 715,099,001
<SHARES-COMMON-STOCK> 419,215
<SHARES-COMMON-PRIOR> 477,686
<ACCUMULATED-NII-CURRENT> 5,854,448
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27,550,415
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,155,701
<NET-ASSETS> 858,659,565
<DIVIDEND-INCOME> 2,576,441
<INTEREST-INCOME> 15,888,546
<OTHER-INCOME> 0
<EXPENSES-NET> 6,021,223
<NET-INVESTMENT-INCOME> 12,443,764
<REALIZED-GAINS-CURRENT> 27,661,159
<APPREC-INCREASE-CURRENT> 7,835,812
<NET-CHANGE-FROM-OPS> 47,940,735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 73,419
<DISTRIBUTIONS-OF-GAINS> 33,952
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,500
<NUMBER-OF-SHARES-REDEEMED> 71,419
<SHARES-REINVESTED> 6,448
<NET-CHANGE-IN-ASSETS> (34,278,162)
<ACCUMULATED-NII-PRIOR> 4,537,718
<ACCUMULATED-GAINS-PRIOR> 4,764,264
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,860,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,021,223
<AVERAGE-NET-ASSETS> 6,077,242
<PER-SHARE-NAV-BEGIN> 13.83
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.57
<PER-SHARE-DIVIDEND> 0.17
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.34
<EXPENSE-RATIO> 1.54
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> HIGH INCOME BOND FUND
<SERIES>
<NUMBER> 8
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 1,594,626,955
<INVESTMENTS-AT-VALUE> 1,535,011,335
<RECEIVABLES> 48,107,822
<ASSETS-OTHER> 499
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,583,119,656
<PAYABLE-FOR-SECURITIES> 10,914,166
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,437,337
<TOTAL-LIABILITIES> 13,351,503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,826,592,704
<SHARES-COMMON-STOCK> 43,043,963
<SHARES-COMMON-PRIOR> 47,939,272
<ACCUMULATED-NII-CURRENT> (1,963,739)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (198,294,049)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (56,566,763)
<NET-ASSETS> 1,569,768,153
<DIVIDEND-INCOME> 1,253,238
<INTEREST-INCOME> 87,134,203
<OTHER-INCOME> 0
<EXPENSES-NET> 10,824,482
<NET-INVESTMENT-INCOME> 77,562,959
<REALIZED-GAINS-CURRENT> (47,606,307)
<APPREC-INCREASE-CURRENT> (1,433,044)
<NET-CHANGE-FROM-OPS> 28,523,608
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 21,704,836
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,367,928
<NUMBER-OF-SHARES-REDEEMED> 26,381,700
<SHARES-REINVESTED> 1,118,463
<NET-CHANGE-IN-ASSETS> (95,607,804)
<ACCUMULATED-NII-PRIOR> (7,563,912)
<ACCUMULATED-GAINS-PRIOR> (148,632,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,696,029
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,824,482
<AVERAGE-NET-ASSETS> 462,670,840
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.33)
<PER-SHARE-DIVIDEND> 0.48
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 1.13
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> HIGH INCOME BOND FUND
<SERIES>
<NUMBER> 8
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 1,594,626,955
<INVESTMENTS-AT-VALUE> 1,535,011,335
<RECEIVABLES> 48,107,822
<ASSETS-OTHER> 499
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,583,119,656
<PAYABLE-FOR-SECURITIES> 10,914,166
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,437,337
<TOTAL-LIABILITIES> 13,351,503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,826,592,704
<SHARES-COMMON-STOCK> 72,610,919
<SHARES-COMMON-PRIOR> 79,320,451
<ACCUMULATED-NII-CURRENT> (1,963,739)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (198,294,049)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (56,566,763)
<NET-ASSETS> 1,569,768,153
<DIVIDEND-INCOME> 1,253,238
<INTEREST-INCOME> 87,134,203
<OTHER-INCOME> 0
<EXPENSES-NET> 10,824,482
<NET-INVESTMENT-INCOME> 77,562,959
<REALIZED-GAINS-CURRENT> (47,606,307)
<APPREC-INCREASE-CURRENT> (1,433,044)
<NET-CHANGE-FROM-OPS> 28,523,608
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 34,373,476
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,645,068
<NUMBER-OF-SHARES-REDEEMED> 13,782,663
<SHARES-REINVESTED> 1,428,063
<NET-CHANGE-IN-ASSETS> (95,607,804)
<ACCUMULATED-NII-PRIOR> (7,563,912)
<ACCUMULATED-GAINS-PRIOR> (148,632,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,696,029
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,824,482
<AVERAGE-NET-ASSETS> 770,082,035
<PER-SHARE-NAV-BEGIN> 10.31
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> (0.34)
<PER-SHARE-DIVIDEND> 0.45
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.01
<EXPENSE-RATIO> 1.61
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> HIGH INCOME BOND FUND
<SERIES>
<NUMBER> 8
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 1,594,626,955
<INVESTMENTS-AT-VALUE> 1,535,011,335
<RECEIVABLES> 48,107,822
<ASSETS-OTHER> 499
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,583,119,656
<PAYABLE-FOR-SECURITIES> 10,914,166
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,437,337
<TOTAL-LIABILITIES> 13,351,503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,826,592,704
<SHARES-COMMON-STOCK> 13,511,465
<SHARES-COMMON-PRIOR> 13,805,520
<ACCUMULATED-NII-CURRENT> (1,963,739)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (198,294,049)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (56,566,763)
<NET-ASSETS> 1,569,768,153
<DIVIDEND-INCOME> 1,253,238
<INTEREST-INCOME> 87,134,203
<OTHER-INCOME> 0
<EXPENSES-NET> 10,824,482
<NET-INVESTMENT-INCOME> 77,562,959
<REALIZED-GAINS-CURRENT> (47,606,307)
<APPREC-INCREASE-CURRENT> (1,433,044)
<NET-CHANGE-FROM-OPS> 28,523,608
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,255,156
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,364,165
<NUMBER-OF-SHARES-REDEEMED> 3,979,185
<SHARES-REINVESTED> 320,965
<NET-CHANGE-IN-ASSETS> (95,607,804)
<ACCUMULATED-NII-PRIOR> (7,563,912)
<ACCUMULATED-GAINS-PRIOR> (148,632,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,696,029
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,824,482
<AVERAGE-NET-ASSETS> 138,778,260
<PER-SHARE-NAV-BEGIN> 10.32
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> (0.32)
<PER-SHARE-DIVIDEND> 0.46
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.03
<EXPENSE-RATIO> 1.54
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> HIGH INCOME BOND FUND
<SERIES>
<NUMBER> 8
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 1,594,626,955
<INVESTMENTS-AT-VALUE> 1,535,011,335
<RECEIVABLES> 48,107,822
<ASSETS-OTHER> 499
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,583,119,656
<PAYABLE-FOR-SECURITIES> 10,914,166
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,437,337
<TOTAL-LIABILITIES> 13,351,503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,826,592,704
<SHARES-COMMON-STOCK> 27,569,829
<SHARES-COMMON-PRIOR> 20,508,148
<ACCUMULATED-NII-CURRENT> (1,963,739)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (198,294,049)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (56,566,763)
<NET-ASSETS> 1,569,768,153
<DIVIDEND-INCOME> 1,253,238
<INTEREST-INCOME> 87,134,203
<OTHER-INCOME> 0
<EXPENSES-NET> 10,824,482
<NET-INVESTMENT-INCOME> 77,562,959
<REALIZED-GAINS-CURRENT> (47,606,307)
<APPREC-INCREASE-CURRENT> (1,433,044)
<NET-CHANGE-FROM-OPS> 28,523,608
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11,679,898
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,238,412
<NUMBER-OF-SHARES-REDEEMED> 8,241,471
<SHARES-REINVESTED> 64,740
<NET-CHANGE-IN-ASSETS> (95,607,804)
<ACCUMULATED-NII-PRIOR> (7,563,912)
<ACCUMULATED-GAINS-PRIOR> (148,632,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,696,029
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,824,482
<AVERAGE-NET-ASSETS> 237,830,861
<PER-SHARE-NAV-BEGIN> 10.33
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> (0.33)
<PER-SHARE-DIVIDEND> 0.50
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.03
<EXPENSE-RATIO> 0.71
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> HIGH INCOME BOND FUND
<SERIES>
<NUMBER> 8
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 1,594,626,955
<INVESTMENTS-AT-VALUE> 1,535,011,335
<RECEIVABLES> 48,107,822
<ASSETS-OTHER> 499
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,583,119,656
<PAYABLE-FOR-SECURITIES> 10,914,166
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,437,337
<TOTAL-LIABILITIES> 13,351,503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,826,592,704
<SHARES-COMMON-STOCK> 8,768
<SHARES-COMMON-PRIOR> 9,590
<ACCUMULATED-NII-CURRENT> (1,963,739)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (198,294,049)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (56,566,763)
<NET-ASSETS> 1,569,768,153
<DIVIDEND-INCOME> 1,253,238
<INTEREST-INCOME> 87,134,203
<OTHER-INCOME> 0
<EXPENSES-NET> 10,824,482
<NET-INVESTMENT-INCOME> 77,562,959
<REALIZED-GAINS-CURRENT> (47,606,307)
<APPREC-INCREASE-CURRENT> (1,433,044)
<NET-CHANGE-FROM-OPS> 28,523,608
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,470
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 1,065
<SHARES-REINVESTED> 243
<NET-CHANGE-IN-ASSETS> (95,607,804)
<ACCUMULATED-NII-PRIOR> (7,563,912)
<ACCUMULATED-GAINS-PRIOR> (148,632,692)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,696,029
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,824,482
<AVERAGE-NET-ASSETS> 92,817
<PER-SHARE-NAV-BEGIN> 10.29
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> (0.49)
<PER-SHARE-DIVIDEND> 0.49
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.84
<EXPENSE-RATIO> 0.72
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> EXCHANGE RESERVE FUND
<SERIES>
<NUMBER> 5
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 190,193,847
<INVESTMENTS-AT-VALUE> 190,193,847
<RECEIVABLES> 58,067
<ASSETS-OTHER> 280,944
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 190,532
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 447,306
<TOTAL-LIABILITIES> 447,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 190,085,552
<SHARES-COMMON-STOCK> 149,753,827
<SHARES-COMMON-PRIOR> 120,149,909
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 190,085,552
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,524,602
<OTHER-INCOME> 0
<EXPENSES-NET> 1,008,334
<NET-INVESTMENT-INCOME> 3,516,268
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,516,268
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,870,521
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 403,263,549
<NUMBER-OF-SHARES-REDEEMED> 376,125,383
<SHARES-REINVESTED> 2,465,752
<NET-CHANGE-IN-ASSETS> 42,621,706
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 411,061
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,008,334
<AVERAGE-NET-ASSETS> 132,967,903
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.22
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> EXCHANGE RESERVE FUND
<SERIES>
<NUMBER> 5
<NAME> SMITH BARNEY INCOME FUNDS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 190,193,847
<INVESTMENTS-AT-VALUE> 190,193,847
<RECEIVABLES> 58,067
<ASSETS-OTHER> 280,944
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 190,532
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 447,306
<TOTAL-LIABILITIES> 447,306
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 190,085,552
<SHARES-COMMON-STOCK> 43,351,563
<SHARES-COMMON-PRIOR> 27,333,775
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 190,085,552
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,524,602
<OTHER-INCOME> 0
<EXPENSES-NET> 1,008,334
<NET-INVESTMENT-INCOME> 3,516,268
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,516,268
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 645,747
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 280,009,715
<NUMBER-OF-SHARES-REDEEMED> 267,420,887
<SHARES-REINVESTED> 428,960
<NET-CHANGE-IN-ASSETS> 42,621,706
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 411,061
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,008,334
<AVERAGE-NET-ASSETS> 30,078,989
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.24
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 11
<NAME> SMITH BARNEY TOTAL RETURN BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 143,641,871
<INVESTMENTS-AT-VALUE> 127,905,011
<RECEIVABLES> 3,048,454
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 130,953,465
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,618,901
<TOTAL-LIABILITIES> 1,618,901
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,204,279
<SHARES-COMMON-STOCK> 3,582,385
<SHARES-COMMON-PRIOR> 4,882,480
<ACCUMULATED-NII-CURRENT> 461,633
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,594,488)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (15,736,860)
<NET-ASSETS> 129,334,564
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,743,093
<OTHER-INCOME> 0
<EXPENSES-NET> 1,122,176
<NET-INVESTMENT-INCOME> 4,620,917
<REALIZED-GAINS-CURRENT> (2,521,143)
<APPREC-INCREASE-CURRENT> (4,000,927)
<NET-CHANGE-FROM-OPS> (1,901,153)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,397,550
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 189,693
<NUMBER-OF-SHARES-REDEEMED> 1,592,012
<SHARES-REINVESTED> 102,224
<NET-CHANGE-IN-ASSETS> (33,010,894)
<ACCUMULATED-NII-PRIOR> 197,449
<ACCUMULATED-GAINS-PRIOR> (2,073,345)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488,923
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,122,176
<AVERAGE-NET-ASSETS> 45,057,715
<PER-SHARE-NAV-BEGIN> 10.67
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.47)
<PER-SHARE-DIVIDEND> 0.33
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.22
<EXPENSE-RATIO> 1.12
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 11
<NAME> SMITH BARNEY TOTAL RETURN BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 143,641,871
<INVESTMENTS-AT-VALUE> 127,905,011
<RECEIVABLES> 3,048,454
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 130,953,465
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,618,901
<TOTAL-LIABILITIES> 1,618,901
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,204,279
<SHARES-COMMON-STOCK> 7,152,371
<SHARES-COMMON-PRIOR> 8,060,756
<ACCUMULATED-NII-CURRENT> 461,633
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,594,488)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (15,736,860)
<NET-ASSETS> 129,334,564
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,743,093
<OTHER-INCOME> 0
<EXPENSES-NET> 1,122,176
<NET-INVESTMENT-INCOME> 4,620,917
<REALIZED-GAINS-CURRENT> (2,521,143)
<APPREC-INCREASE-CURRENT> (4,000,927)
<NET-CHANGE-FROM-OPS> (1,901,153)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,312,497
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 403,796
<NUMBER-OF-SHARES-REDEEMED> 1,459,855
<SHARES-REINVESTED> 147,674
<NET-CHANGE-IN-ASSETS> (33,010,894)
<ACCUMULATED-NII-PRIOR> 197,449
<ACCUMULATED-GAINS-PRIOR> (2,073,345)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488,923
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,122,176
<AVERAGE-NET-ASSETS> 80,924,028
<PER-SHARE-NAV-BEGIN> 10.67
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> (0.48)
<PER-SHARE-DIVIDEND> 0.30
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.21
<EXPENSE-RATIO> 1.67
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 11
<NAME> SMITH BARNEY TOTAL RETURN BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 143,641,871
<INVESTMENTS-AT-VALUE> 127,905,011
<RECEIVABLES> 3,048,454
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 130,953,465
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,618,901
<TOTAL-LIABILITIES> 1,618,901
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,204,279
<SHARES-COMMON-STOCK> 1,927,258
<SHARES-COMMON-PRIOR> 2,273,412
<ACCUMULATED-NII-CURRENT> 461,633
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,594,488)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (15,736,860)
<NET-ASSETS> 129,334,564
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,743,093
<OTHER-INCOME> 0
<EXPENSES-NET> 1,122,176
<NET-INVESTMENT-INCOME> 4,620,917
<REALIZED-GAINS-CURRENT> (2,521,143)
<APPREC-INCREASE-CURRENT> (4,000,927)
<NET-CHANGE-FROM-OPS> (1,901,153)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 646,686
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 209,978
<NUMBER-OF-SHARES-REDEEMED> 607,662
<SHARES-REINVESTED> 51,530
<NET-CHANGE-IN-ASSETS> (33,010,894)
<ACCUMULATED-NII-PRIOR> 197,449
<ACCUMULATED-GAINS-PRIOR> (2,073,345)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488,923
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,122,176
<AVERAGE-NET-ASSETS> 22,582,694
<PER-SHARE-NAV-BEGIN> 10.67
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> (0.47)
<PER-SHARE-DIVIDEND> 0.31
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.21
<EXPENSE-RATIO> 1.62
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 006
<NAME> SB CONVERTIBLE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 136,256,469
<INVESTMENTS-AT-VALUE> 136,005,925
<RECEIVABLES> 1,892,535
<ASSETS-OTHER> 3,899,235
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,797,695
<PAYABLE-FOR-SECURITIES> 3,654,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,951,494
<TOTAL-LIABILITIES> 7,605,580
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152,656,899
<SHARES-COMMON-STOCK> 1,515,378
<SHARES-COMMON-PRIOR> 1,714,651
<ACCUMULATED-NII-CURRENT> 345,758
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (18,559,998)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (250,544)
<NET-ASSETS> 134,192,115
<DIVIDEND-INCOME> 1,545,690
<INTEREST-INCOME> 2,566,091
<OTHER-INCOME> 0
<EXPENSES-NET> 745,143
<NET-INVESTMENT-INCOME> 3,366,638
<REALIZED-GAINS-CURRENT> (13,427,917)
<APPREC-INCREASE-CURRENT> 5,488,254
<NET-CHANGE-FROM-OPS> (4,573,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 519,812
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 75,616
<NUMBER-OF-SHARES-REDEEMED> 303,612
<SHARES-REINVESTED> 28,723
<NET-CHANGE-IN-ASSETS> (10,326,827)
<ACCUMULATED-NII-PRIOR> 171,334
<ACCUMULATED-GAINS-PRIOR> (5,132,081)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 745,143
<AVERAGE-NET-ASSETS> 23,822,250
<PER-SHARE-NAV-BEGIN> 15.25
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> (0.85)
<PER-SHARE-DIVIDEND> 0.32
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.42
<EXPENSE-RATIO> 1.30
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 006
<NAME> SB CONVERTIBLE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 136,256,469
<INVESTMENTS-AT-VALUE> 136,005,925
<RECEIVABLES> 1,892,535
<ASSETS-OTHER> 3,899,235
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,797,695
<PAYABLE-FOR-SECURITIES> 3,654,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,951,494
<TOTAL-LIABILITIES> 7,605,580
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152,656,899
<SHARES-COMMON-STOCK> 1,075,590
<SHARES-COMMON-PRIOR> 1,416,917
<ACCUMULATED-NII-CURRENT> 345,758
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (18,559,998)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (250,544)
<NET-ASSETS> 134,192,115
<DIVIDEND-INCOME> 1,545,690
<INTEREST-INCOME> 2,566,091
<OTHER-INCOME> 0
<EXPENSES-NET> 745,143
<NET-INVESTMENT-INCOME> 3,366,638
<REALIZED-GAINS-CURRENT> (13,427,917)
<APPREC-INCREASE-CURRENT> 5,488,254
<NET-CHANGE-FROM-OPS> (4,573,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 365,376
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25,744
<NUMBER-OF-SHARES-REDEEMED> 386,414
<SHARES-REINVESTED> 19,343
<NET-CHANGE-IN-ASSETS> (10,326,827)
<ACCUMULATED-NII-PRIOR> 171,334
<ACCUMULATED-GAINS-PRIOR> (5,132,081)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 745,143
<AVERAGE-NET-ASSETS> 18,485,658
<PER-SHARE-NAV-BEGIN> 15.22
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.85)
<PER-SHARE-DIVIDEND> 0.29
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.38
<EXPENSE-RATIO> 1.81
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 006
<NAME> SB CONVERTIBLE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 136,256,469
<INVESTMENTS-AT-VALUE> 136,005,925
<RECEIVABLES> 1,892,535
<ASSETS-OTHER> 3,899,235
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,797,695
<PAYABLE-FOR-SECURITIES> 3,654,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,951,494
<TOTAL-LIABILITIES> 7,605,580
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152,656,899
<SHARES-COMMON-STOCK> 18,709
<SHARES-COMMON-PRIOR> 35,588
<ACCUMULATED-NII-CURRENT> 345,758
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (18,559,998)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (250,544)
<NET-ASSETS> 134,192,115
<DIVIDEND-INCOME> 1,545,690
<INTEREST-INCOME> 2,566,091
<OTHER-INCOME> 0
<EXPENSES-NET> 745,143
<NET-INVESTMENT-INCOME> 3,366,638
<REALIZED-GAINS-CURRENT> (13,427,917)
<APPREC-INCREASE-CURRENT> 5,488,254
<NET-CHANGE-FROM-OPS> (4,573,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8,056
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,679
<NUMBER-OF-SHARES-REDEEMED> 19,970
<SHARES-REINVESTED> 412
<NET-CHANGE-IN-ASSETS> (10,326,827)
<ACCUMULATED-NII-PRIOR> 171,334
<ACCUMULATED-GAINS-PRIOR> (5,132,081)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 745,143
<AVERAGE-NET-ASSETS> 431,487
<PER-SHARE-NAV-BEGIN> 15.18
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> (0.84)
<PER-SHARE-DIVIDEND> 0.28
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.34
<EXPENSE-RATIO> 2.18
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 006
<NAME> SB CONVERTIBLE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 136,256,469
<INVESTMENTS-AT-VALUE> 136,005,925
<RECEIVABLES> 1,892,535
<ASSETS-OTHER> 3,899,235
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,797,695
<PAYABLE-FOR-SECURITIES> 3,654,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,951,494
<TOTAL-LIABILITIES> 7,605,580
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152,656,899
<SHARES-COMMON-STOCK> 27,631
<SHARES-COMMON-PRIOR> 37,674
<ACCUMULATED-NII-CURRENT> 345,758
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (18,559,998)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (250,544)
<NET-ASSETS> 134,192,115
<DIVIDEND-INCOME> 1,545,690
<INTEREST-INCOME> 2,566,091
<OTHER-INCOME> 0
<EXPENSES-NET> 745,143
<NET-INVESTMENT-INCOME> 3,366,638
<REALIZED-GAINS-CURRENT> (13,427,917)
<APPREC-INCREASE-CURRENT> 5,488,254
<NET-CHANGE-FROM-OPS> (4,573,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9,476
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 10,740
<SHARES-REINVESTED> 697
<NET-CHANGE-IN-ASSETS> (10,326,827)
<ACCUMULATED-NII-PRIOR> 171,334
<ACCUMULATED-GAINS-PRIOR> (5,132,081)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 745,143
<AVERAGE-NET-ASSETS> 475,703
<PER-SHARE-NAV-BEGIN> 15.19
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> (0.84)
<PER-SHARE-DIVIDEND> 0.30
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.34
<EXPENSE-RATIO> 1.89
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 006
<NAME> SB CONVERTIBLE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 136,256,469
<INVESTMENTS-AT-VALUE> 136,005,925
<RECEIVABLES> 1,892,535
<ASSETS-OTHER> 3,899,235
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,797,695
<PAYABLE-FOR-SECURITIES> 3,654,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,951,494
<TOTAL-LIABILITIES> 7,605,580
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152,656,899
<SHARES-COMMON-STOCK> 6,629,967
<SHARES-COMMON-PRIOR> 6,240,893
<ACCUMULATED-NII-CURRENT> 345,758
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (18,559,998)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (250,544)
<NET-ASSETS> 134,192,115
<DIVIDEND-INCOME> 1,545,690
<INTEREST-INCOME> 2,566,091
<OTHER-INCOME> 0
<EXPENSES-NET> 745,143
<NET-INVESTMENT-INCOME> 3,366,638
<REALIZED-GAINS-CURRENT> (13,427,917)
<APPREC-INCREASE-CURRENT> 5,488,254
<NET-CHANGE-FROM-OPS> (4,573,025)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,289,494
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 441,180
<NUMBER-OF-SHARES-REDEEMED> 52,106
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (10,326,827)
<ACCUMULATED-NII-PRIOR> 171,334
<ACCUMULATED-GAINS-PRIOR> (5,132,081)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 491,872
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 745,143
<AVERAGE-NET-ASSETS> 95,704,078
<PER-SHARE-NAV-BEGIN> 15.34
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> (0.86)
<PER-SHARE-DIVIDEND> 0.35
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.51
<EXPENSE-RATIO> 0.85
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 004
<NAME> SMITH BARNEY MUNICIPAL HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 569,628,008
<INVESTMENTS-AT-VALUE> 530,840,154
<RECEIVABLES> 8,129,112
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 538,969,266
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,415,866
<TOTAL-LIABILITIES> 3,415,866
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 575,065,400
<SHARES-COMMON-STOCK> 17,815,938
<SHARES-COMMON-PRIOR> 17,027,134
<ACCUMULATED-NII-CURRENT> (620,867)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (103,279)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (38,787,854)
<NET-ASSETS> 535,553,400
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 20,097,397
<OTHER-INCOME> 0
<EXPENSES-NET> 3,267,505
<NET-INVESTMENT-INCOME> 16,829,892
<REALIZED-GAINS-CURRENT> 319,463
<APPREC-INCREASE-CURRENT> (53,920,621)
<NET-CHANGE-FROM-OPS> (36,771,266)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8,243,202
<DISTRIBUTIONS-OF-GAINS> 958,227
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,045,383
<NUMBER-OF-SHARES-REDEEMED> 2,594,778
<SHARES-REINVESTED> 338,199
<NET-CHANGE-IN-ASSETS> (110,192,590)
<ACCUMULATED-NII-PRIOR> (1,245,038)
<ACCUMULATED-GAINS-PRIOR> 1,549,019
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,800,059
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,267,505
<AVERAGE-NET-ASSETS> 285,868,012
<PER-SHARE-NAV-BEGIN> 16.98
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> (1.48)
<PER-SHARE-DIVIDEND> 0.47
<PER-SHARE-DISTRIBUTIONS> 0.05
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.47
<EXPENSE-RATIO> 0.83
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 004
<NAME> SMITH BARNEY MUNICIPAL HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 569,628,008
<INVESTMENTS-AT-VALUE> 530,840,154
<RECEIVABLES> 8,129,112
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 538,969,266
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,415,866
<TOTAL-LIABILITIES> 3,415,866
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 575,065,400
<SHARES-COMMON-STOCK> 16,517,108
<SHARES-COMMON-PRIOR> 20,805,671
<ACCUMULATED-NII-CURRENT> (620,867)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (103,279)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (38,787,854)
<NET-ASSETS> 535,553,400
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 20,097,397
<OTHER-INCOME> 0
<EXPENSES-NET> 3,267,505
<NET-INVESTMENT-INCOME> 16,829,892
<REALIZED-GAINS-CURRENT> 319,463
<APPREC-INCREASE-CURRENT> (53,920,621)
<NET-CHANGE-FROM-OPS> (36,771,266)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7,863,642
<DISTRIBUTIONS-OF-GAINS> 1,001,066
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,011,633
<NUMBER-OF-SHARES-REDEEMED> 5,600,804
<SHARES-REINVESTED> 300,608
<NET-CHANGE-IN-ASSETS> (110,192,590)
<ACCUMULATED-NII-PRIOR> (1,245,038)
<ACCUMULATED-GAINS-PRIOR> 1,549,019
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,800,059
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,267,505
<AVERAGE-NET-ASSETS> 303,040,674
<PER-SHARE-NAV-BEGIN> 16.99
<PER-SHARE-NII> 0.44
<PER-SHARE-GAIN-APPREC> (1.47)
<PER-SHARE-DIVIDEND> 0.43
<PER-SHARE-DISTRIBUTIONS> 0.05
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.48
<EXPENSE-RATIO> 1.33
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 004
<NAME> SMITH BARNEY MUNICIPAL HIGH INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 569,628,008
<INVESTMENTS-AT-VALUE> 530,840,154
<RECEIVABLES> 8,129,112
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 538,969,266
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,415,866
<TOTAL-LIABILITIES> 3,415,866
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 575,065,400
<SHARES-COMMON-STOCK> 279,476
<SHARES-COMMON-PRIOR> 184,059
<ACCUMULATED-NII-CURRENT> (620,867)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (103,279)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (38,787,854)
<NET-ASSETS> 535,553,400
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 20,097,397
<OTHER-INCOME> 0
<EXPENSES-NET> 3,267,505
<NET-INVESTMENT-INCOME> 16,829,892
<REALIZED-GAINS-CURRENT> 319,463
<APPREC-INCREASE-CURRENT> (53,920,621)
<NET-CHANGE-FROM-OPS> (36,771,266)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 98,877
<DISTRIBUTIONS-OF-GAINS> 12,468
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 124,802
<NUMBER-OF-SHARES-REDEEMED> 33,386
<SHARES-REINVESTED> 4,001
<NET-CHANGE-IN-ASSETS> (110,192,590)
<ACCUMULATED-NII-PRIOR> (1,245,038)
<ACCUMULATED-GAINS-PRIOR> 1,549,019
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,800,059
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,267,505
<AVERAGE-NET-ASSETS> 3,705,846
<PER-SHARE-NAV-BEGIN> 16.96
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> (1.47)
<PER-SHARE-DIVIDEND> 0.42
<PER-SHARE-DISTRIBUTIONS> 0.05
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.45
<EXPENSE-RATIO> 1.42
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> DIVERSIFIED STRATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 2,467,117,994
<INVESTMENTS-AT-VALUE> 2,359,274,032
<RECEIVABLES> 51,062,914
<ASSETS-OTHER> 124,244,513
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,534,581,459
<PAYABLE-FOR-SECURITIES> 125,347,903
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105,742,679
<TOTAL-LIABILITIES> 231,090,582
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,537,399,787
<SHARES-COMMON-STOCK> 67,911,752
<SHARES-COMMON-PRIOR> 62,270,388
<ACCUMULATED-NII-CURRENT> 10,509,704
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (129,062,460)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (115,356,154)
<NET-ASSETS> 2,303,490,877
<DIVIDEND-INCOME> 572,419
<INTEREST-INCOME> 99,090,454
<OTHER-INCOME> 0
<EXPENSES-NET> 16,979,221
<NET-INVESTMENT-INCOME> 82,683,652
<REALIZED-GAINS-CURRENT> (35,081,158)
<APPREC-INCREASE-CURRENT> (41,188,415)
<NET-CHANGE-FROM-OPS> 6,414,079
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16,767,194
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,837,397
<NUMBER-OF-SHARES-REDEEMED> 42,476,561
<SHARES-REINVESTED> 1,280,528
<NET-CHANGE-IN-ASSETS> (386,300,110)
<ACCUMULATED-NII-PRIOR> (896,492)
<ACCUMULATED-GAINS-PRIOR> (83,533,639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,258,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,979,221
<AVERAGE-NET-ASSETS> 488,009,114
<PER-SHARE-NAV-BEGIN> 7.46
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> (0.23)
<PER-SHARE-DIVIDEND> 0.26
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.24
<EXPENSE-RATIO> 1.03
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> DIVERSIFIED STRATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 2,467,117,994
<INVESTMENTS-AT-VALUE> 2,359,274,032
<RECEIVABLES> 51,062,914
<ASSETS-OTHER> 124,244,513
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,534,581,459
<PAYABLE-FOR-SECURITIES> 125,347,903
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105,742,679
<TOTAL-LIABILITIES> 231,090,582
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,537,399,787
<SHARES-COMMON-STOCK> 199,643,420
<SHARES-COMMON-PRIOR> 247,097,062
<ACCUMULATED-NII-CURRENT> 10,509,704
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (129,062,460)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (115,356,154)
<NET-ASSETS> 2,303,490,877
<DIVIDEND-INCOME> 572,419
<INTEREST-INCOME> 99,090,454
<OTHER-INCOME> 0
<EXPENSES-NET> 16,979,221
<NET-INVESTMENT-INCOME> 82,683,652
<REALIZED-GAINS-CURRENT> (35,081,158)
<APPREC-INCREASE-CURRENT> (41,188,415)
<NET-CHANGE-FROM-OPS> 6,414,079
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 52,280,510
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,985,203
<NUMBER-OF-SHARES-REDEEMED> 58,221,685
<SHARES-REINVESTED> 3,782,840
<NET-CHANGE-IN-ASSETS> (386,300,110)
<ACCUMULATED-NII-PRIOR> (896,492)
<ACCUMULATED-GAINS-PRIOR> (83,533,639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,258,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,979,221
<AVERAGE-NET-ASSETS> 1,647,650,655
<PER-SHARE-NAV-BEGIN> 7.48
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> 0.24
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.26
<EXPENSE-RATIO> 1.51
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> DIVERSIFIED STRATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 2,467,117,994
<INVESTMENTS-AT-VALUE> 2,359,274,032
<RECEIVABLES> 51,062,914
<ASSETS-OTHER> 124,244,513
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,534,581,459
<PAYABLE-FOR-SECURITIES> 125,347,903
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105,742,679
<TOTAL-LIABILITIES> 231,090,582
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,537,399,787
<SHARES-COMMON-STOCK> 23,588,772
<SHARES-COMMON-PRIOR> 24,578,803
<ACCUMULATED-NII-CURRENT> 10,509,704
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (129,062,460)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (115,356,154)
<NET-ASSETS> 2,303,490,877
<DIVIDEND-INCOME> 572,419
<INTEREST-INCOME> 99,090,454
<OTHER-INCOME> 0
<EXPENSES-NET> 16,979,221
<NET-INVESTMENT-INCOME> 82,683,652
<REALIZED-GAINS-CURRENT> (35,081,158)
<APPREC-INCREASE-CURRENT> (41,188,415)
<NET-CHANGE-FROM-OPS> 6,414,079
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,685,913
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 43,719,948
<NUMBER-OF-SHARES-REDEEMED> 45,214,747
<SHARES-REINVESTED> 504,768
<NET-CHANGE-IN-ASSETS> (386,300,110)
<ACCUMULATED-NII-PRIOR> (896,492)
<ACCUMULATED-GAINS-PRIOR> (83,533,639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,258,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,979,221
<AVERAGE-NET-ASSETS> 175,131,940
<PER-SHARE-NAV-BEGIN> 7.48
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> (0.23)
<PER-SHARE-DIVIDEND> 0.24
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.25
<EXPENSE-RATIO> 1.47
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> DIVERSIFIED STRATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 2,467,117,994
<INVESTMENTS-AT-VALUE> 2,359,274,032
<RECEIVABLES> 51,062,914
<ASSETS-OTHER> 124,244,513
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,534,581,459
<PAYABLE-FOR-SECURITIES> 125,347,903
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105,742,679
<TOTAL-LIABILITIES> 231,090,582
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,537,399,787
<SHARES-COMMON-STOCK> 22,814,085
<SHARES-COMMON-PRIOR> 21,794,345
<ACCUMULATED-NII-CURRENT> 10,509,704
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (129,062,460)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (115,356,154)
<NET-ASSETS> 2,303,490,877
<DIVIDEND-INCOME> 572,419
<INTEREST-INCOME> 99,090,454
<OTHER-INCOME> 0
<EXPENSES-NET> 16,979,221
<NET-INVESTMENT-INCOME> 82,683,652
<REALIZED-GAINS-CURRENT> (35,081,158)
<APPREC-INCREASE-CURRENT> (41,188,415)
<NET-CHANGE-FROM-OPS> 6,414,079
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,971,288
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,184,935
<NUMBER-OF-SHARES-REDEEMED> 166,643
<SHARES-REINVESTED> 1,448
<NET-CHANGE-IN-ASSETS> (386,300,110)
<ACCUMULATED-NII-PRIOR> (896,492)
<ACCUMULATED-GAINS-PRIOR> (83,533,639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,258,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,979,221
<AVERAGE-NET-ASSETS> 164,528,586
<PER-SHARE-NAV-BEGIN> 7.46
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> (0.23)
<PER-SHARE-DIVIDEND> 0.27
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.24
<EXPENSE-RATIO> 0.69
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000764624
<NAME> SMITH BARNEY INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> DIVERSIFIED STRATEGIC INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 2,467,117,994
<INVESTMENTS-AT-VALUE> 2,359,274,032
<RECEIVABLES> 51,062,914
<ASSETS-OTHER> 124,244,513
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,534,581,459
<PAYABLE-FOR-SECURITIES> 125,347,903
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 105,742,679
<TOTAL-LIABILITIES> 231,090,582
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,537,399,787
<SHARES-COMMON-STOCK> 3,721,912
<SHARES-COMMON-PRIOR> 3,976,319
<ACCUMULATED-NII-CURRENT> 10,509,704
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (129,062,460)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (115,356,154)
<NET-ASSETS> 2,303,490,877
<DIVIDEND-INCOME> 572,419
<INTEREST-INCOME> 99,090,454
<OTHER-INCOME> 0
<EXPENSES-NET> 16,979,221
<NET-INVESTMENT-INCOME> 82,683,652
<REALIZED-GAINS-CURRENT> (35,081,158)
<APPREC-INCREASE-CURRENT> (41,188,415)
<NET-CHANGE-FROM-OPS> 6,414,079
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,020,214
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 182,827
<NUMBER-OF-SHARES-REDEEMED> 575,683
<SHARES-REINVESTED> 138,449
<NET-CHANGE-IN-ASSETS> (386,300,110)
<ACCUMULATED-NII-PRIOR> (896,492)
<ACCUMULATED-GAINS-PRIOR> (83,533,639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,258,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,979,221
<AVERAGE-NET-ASSETS> 28,385,147
<PER-SHARE-NAV-BEGIN> 7.47
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> (0.22)
<PER-SHARE-DIVIDEND> 0.27
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.25
<EXPENSE-RATIO> 0.69
</TABLE>
