PRINCOR TAX EXEMPT BOND FUND INC
NSAR-A, 1996-06-19
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<PAGE>      PAGE  1
000 A000000 04/30/96
000 C000000 0000780267
000 D000000 N
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000 F000000 Y
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001 A000000 PRINCOR TAX-EXEMPT BOND FUND, INC.
001 B000000 811-4449
001 C000000 5152475476
002 A000000 THE PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
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002 D020000 0200
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022 A000001 MERRILL LYNCH MONEY MARKET SECURITIES
022 B000001 13-2761776
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022 D000001     11800
022 A000002 PROVIDENT
022 B000002 13-2518466
022 C000002     11050
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022 D000002     10850
022 A000003 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000003 13-1912900
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022 D000003         0
022 A000004 STEPHENS INC.
022 B000004 71-0641478
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022 A000005 EVEREN SECURITIES, INC. (KEMPER)
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022 A000006 MESIROW FINANCIAL
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022 A000007 GOLDMAN SACHS CO.
022 B000007 13-5108880
022 C000007         0
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022 A000008 NUVEEN & COMPANY
022 B000008 36-2639476
022 C000008      2080
022 D000008       737
022 A000009 PRAGER, MCCARTY & LEWIS SECURITIES
022 B000009 94-3057440
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SIGNATURE   A. S. FILEAN                                 
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               APR-30-1996
<INVESTMENTS-AT-COST>                      178,715,883
<INVESTMENTS-AT-VALUE>                     181,209,180
<RECEIVABLES>                                3,893,573
<ASSETS-OTHER>                                  12,469
<OTHER-ITEMS-ASSETS>                            85,747
<TOTAL-ASSETS>                             185,200,969
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      271,732
<TOTAL-LIABILITIES>                            271,732
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   183,370,226
<SHARES-COMMON-STOCK>                       15,296,932
<SHARES-COMMON-PRIOR>                       15,005,591
<ACCUMULATED-NII-CURRENT>                    1,027,351
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,961,637)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,493,297
<NET-ASSETS>                               184,929,237
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            5,660,493
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (743,632)
<NET-INVESTMENT-INCOME>                      4,916,861
<REALIZED-GAINS-CURRENT>                       366,019
<APPREC-INCREASE-CURRENT>                  (3,510,348)
<NET-CHANGE-FROM-OPS>                        1,772,532
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (4,846,334)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,082,781
<NUMBER-OF-SHARES-REDEEMED>                (1,066,660)
<SHARES-REINVESTED>                            275,220
<NET-CHANGE-IN-ASSETS>                       1,727,814
<ACCUMULATED-NII-PRIOR>                      1,048,291
<ACCUMULATED-GAINS-PRIOR>                  (2,327,656)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                743,632
<AVERAGE-NET-ASSETS>                       185,727,060
<PER-SHARE-NAV-BEGIN>                            11.98
<PER-SHARE-NII>                                    .32
<PER-SHARE-GAIN-APPREC>                          (.20)
<PER-SHARE-DIVIDEND>                             (.32)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.78
<EXPENSE-RATIO>                                    .79
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1996
<PERIOD-END>                               APR-30-1996
<INVESTMENTS-AT-COST>                      178,715,883
<INVESTMENTS-AT-VALUE>                     181,209,180
<RECEIVABLES>                                3,893,573
<ASSETS-OTHER>                                  12,469
<OTHER-ITEMS-ASSETS>                            85,747
<TOTAL-ASSETS>                             185,200,969
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      271,732
<TOTAL-LIABILITIES>                            271,732
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   183,370,226
<SHARES-COMMON-STOCK>                          407,279
<SHARES-COMMON-PRIOR>                          291,444
<ACCUMULATED-NII-CURRENT>                    1,027,351
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,961,637)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,493,297
<NET-ASSETS>                               184,929,237
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            5,660,493
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (743,632)
<NET-INVESTMENT-INCOME>                      4,916,861
<REALIZED-GAINS-CURRENT>                       366,019
<APPREC-INCREASE-CURRENT>                  (3,510,348)
<NET-CHANGE-FROM-OPS>                        1,772,532
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (91,467)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        124,371
<NUMBER-OF-SHARES-REDEEMED>                   (14,247)
<SHARES-REINVESTED>                              5,711
<NET-CHANGE-IN-ASSETS>                       1,727,814
<ACCUMULATED-NII-PRIOR>                      1,048,291
<ACCUMULATED-GAINS-PRIOR>                  (2,327,656)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          440,121
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                743,632
<AVERAGE-NET-ASSETS>                       185,727,060
<PER-SHARE-NAV-BEGIN>                            11.96
<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                          (.19)
<PER-SHARE-DIVIDEND>                             (.28)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.75
<EXPENSE-RATIO>                                   1.71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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