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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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015 A000901 STATE STREET BANK & TRUST COMPANY
015 B000901 C
015 C010901 BOSTON
015 C020901 MA
015 C030901 02110
015 E010901 X
024 000900 Y
025 A000901 TRAVELERS GROUP INC.
025 C000901 E
025 D000901 11862
025 A000902 FORD MOTOR CREDIT
025 C000902 D
025 D000902 10000
025 A000903 TRAVELERS GROUP INC.
025 C000903 D
025 D000903 8040
025 A000904 LEHMAN BROTHERS HOLDINGS
025 C000904 D
025 D000904 5011
025 A000905 MERRILL LYNCH & CO.
025 C000905 D
025 D000905 3987
025 A000906 SALOMON INC.
025 C000906 D
025 D000906 2166
025 A000907 AMERICAN EXPRESS CREDIT
025 C000907 D
025 D000907 12000
025 A000908 AMERICAN EXPRESS CREDIT
025 C000908 D
025 D000908 19000
025 A000909 FORD MOTOR CREDIT
025 C000909 D
025 D000909 20000
025 A000910 TRAVELERS GROUP INC.
025 C000910 D
025 D000910 4895
025 D000911 0
025 D000912 0
025 D000913 0
025 D000914 0
<PAGE> PAGE 42
025 D000915 0
025 D000916 0
028 A010900 22772
028 A020900 1
028 A030900 0
028 A040900 9388
028 B010900 18406
028 B020900 30
028 B030900 0
028 B040900 10434
028 C010900 22477
028 C020900 0
028 C030900 0
028 C040900 10075
028 D010900 25425
028 D020900 2859
028 D030900 0
028 D040900 11156
028 E010900 21321
028 E020900 0
028 E030900 0
028 E040900 11000
028 F010900 18494
028 F020900 0
028 F030900 0
028 F040900 11298
028 G010900 128895
028 G020900 2890
028 G030900 0
028 G040900 63351
028 H000900 3687
029 000900 Y
030 A000900 175
030 B000900 5.50
030 C000900 2.00
031 A000900 67
031 B000900 0
032 000900 0
033 000900 108
034 000900 Y
035 000900 378
036 A000900 N
036 B000900 0
037 000900 N
038 000900 0
040 000900 Y
041 000900 Y
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
<PAGE> PAGE 43
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 100
043 000900 3459
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.320
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
053 A000900 N
054 A000900 Y
054 B000900 N
054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 N
054 M000900 Y
054 N000900 N
054 O000900 N
055 A000900 N
055 B000900 N
056 000900 Y
<PAGE> PAGE 44
057 000900 N
060 A000900 Y
060 B000900 Y
061 000900 500
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
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
066 A000900 Y
066 B000900 N
066 C000900 N
066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 Y
067 000900 Y
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
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
<PAGE> PAGE 45
070 J010900 Y
070 J020900 Y
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 995890
071 B000900 933539
071 C000900 919099
071 D000900 102
072 A000900 6
072 B000900 12319
072 C000900 1640
072 D000900 0
072 E000900 0
072 F000900 1462
072 G000900 1462
072 H000900 0
072 I000900 686
072 J000900 57
072 K000900 0
072 L000900 138
072 M000900 19
072 N000900 36
072 O000900 0
072 P000900 0
072 Q000900 60
072 R000900 44
072 S000900 32
072 T000900 3459
072 U000900 0
072 V000900 0
072 W000900 25
072 X000900 7480
072 Y000900 0
072 Z000900 6479
072AA000900 40819
072BB000900 15950
072CC010900 14727
<PAGE> PAGE 46
072CC020900 0
072DD010900 352
072DD020900 6134
072EE000900 0
073 A010900 0.1745
073 A020900 0.1271
073 B000900 0.0000
073 C000900 0.0000
074 A000900 4
074 B000900 0
074 C000900 85948
074 D000900 371935
074 E000900 0
074 F000900 595378
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 52564
074 K000900 0
074 L000900 6222
074 M000900 0
074 N000900 1112051
074 O000900 118419
074 P000900 1107
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 4415
074 S000900 0
074 T000900 988110
074 U010900 2206
074 U020900 48880
074 V010900 19.34
074 V020900 19.34
074 W000900 0.0000
074 X000900 108333
074 Y000900 67637
075 A000900 0
075 B000900 946386
076 000900 0.00
008 A001101 MONITOR CAPITAL ADVISORS, INC
008 B001101 A
008 C001101 801-34412
008 D011101 NEW YORK
008 D021101 NY
008 D031101 10010
015 A001101 BANK OF NEW YORK
015 B001101 C
015 C011101 NEW YORK
015 C021101 NY
<PAGE> PAGE 47
015 C031101 10015
015 E011101 X
024 001100 Y
025 A001101 AMERICAN EXPRESS
025 C001101 E
025 D001101 652
025 A001102 MERRILL LYNCH
025 C001102 E
025 D001102 343
025 A001103 MORGAN STANLEY
025 C001103 E
025 D001103 228
025 A001104 J P MORGAN
025 C001104 E
025 D001104 481
025 A001105 CHASE MANHATTAN
025 C001105 E
025 D001105 932
025 A001106 SALOMON INC.
025 C001106 E
025 D001106 146
025 D001107 0
025 D001108 0
028 A011100 6428
028 A021100 3048
028 A031100 0
028 A041100 896
028 B011100 6795
028 B021100 0
028 B031100 0
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028 C011100 10129
028 C021100 0
028 C031100 0
028 C041100 1162
028 D011100 9448
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028 D031100 0
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028 E011100 6603
028 E021100 0
028 E031100 0
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028 F011100 6237
028 F021100 0
028 F031100 0
028 F041100 1443
028 G011100 45640
028 G021100 3048
028 G031100 0
028 G041100 7032
<PAGE> PAGE 48
028 H001100 16295
029 001100 Y
030 A001100 1025
030 B001100 3.00
030 C001100 1.50
031 A001100 221
031 B001100 0
032 001100 0
033 001100 804
034 001100 N
035 001100 0
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 0
042 H001100 0
043 001100 168
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.100
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
<PAGE> PAGE 49
048 K011100 0
048 K021100 0.000
053 A001100 N
054 A001100 Y
054 B001100 Y
054 C001100 Y
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 Y
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 Y
054 M001100 Y
054 N001100 N
054 O001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 Y
060 A001100 Y
060 B001100 Y
061 001100 1000
062 A001100 N
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 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 Y
066 E001100 N
066 F001100 N
066 G001100 N
067 001100 N
<PAGE> PAGE 50
068 A001100 N
068 B001100 N
069 001100 Y
070 A011100 Y
070 A021100 N
070 B011100 N
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 Y
070 F021100 Y
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 N
070 K021100 N
070 L011100 Y
070 L021100 Y
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 Y
070 R021100 N
071 A001100 48322
071 B001100 1583
071 C001100 120579
071 D001100 1
072 A001100 6
072 B001100 475
072 C001100 1305
072 D001100 0
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072 F001100 67
072 G001100 269
072 H001100 0
<PAGE> PAGE 51
072 I001100 61
072 J001100 22
072 K001100 0
072 L001100 63
072 M001100 3
072 N001100 19
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072 P001100 0
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072 R001100 13
072 S001100 5
072 T001100 168
072 U001100 6
072 V001100 0
072 W001100 5
072 X001100 701
072 Y001100 164
072 Z001100 1243
072AA001100 2410
072BB001100 144
072CC011100 8589
072CC021100 0
072DD011100 1372
072DD021100 0
072EE001100 1775
073 A011100 0.2400
073 A021100 0.0000
073 B001100 0.3109
073 C001100 0.0000
074 A001100 0
074 B001100 0
074 C001100 7131
074 D001100 0
074 E001100 0
074 F001100 152376
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 1889
074 K001100 0
074 L001100 888
074 M001100 121
074 N001100 162405
074 O001100 1702
074 P001100 81
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 708
074 S001100 0
<PAGE> PAGE 52
074 T001100 159914
074 U011100 7614
074 U021100 0
074 V011100 21.00
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074 W001100 0.0000
074 X001100 12254
074 Y001100 1970
075 A001100 0
075 B001100 135030
076 001100 0.00
008 A001201 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001201 A
008 C001201 801-5594
008 D011201 LONDON
008 D051201 UNITED KINDGOM
008 D061201 EC2N 2HE
015 A001201 BANK OF NEW YORK
015 B001201 C
015 C011201 NEW YORK
015 C021201 NY
015 C031201 10015
015 E011201 X
024 001200 N
025 D001201 0
025 D001202 0
025 D001203 0
025 D001204 0
025 D001205 0
025 D001206 0
025 D001207 0
025 D001208 0
028 A011200 355
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028 B011200 318
028 B021200 55
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028 B041200 614
028 C011200 870
028 C021200 53
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028 D011200 788
028 D021200 55
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028 D041200 237
028 E011200 384
028 E021200 55
028 E031200 0
<PAGE> PAGE 53
028 E041200 219
028 F011200 540
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028 G011200 3255
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028 G041200 1819
028 H001200 553
029 001200 Y
030 A001200 21
030 B001200 4.50
030 C001200 2.00
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031 B001200 0
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034 001200 Y
035 001200 1
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037 001200 N
038 001200 0
039 001200 N
040 001200 Y
041 001200 Y
042 A001200 0
042 B001200 0
042 C001200 0
042 D001200 0
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
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046 001200 N
047 001200 Y
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048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
<PAGE> PAGE 54
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 0
048 K021200 0.000
053 A001200 Y
053 B001200 Y
053 C001200 N
054 A001200 Y
054 B001200 Y
054 C001200 Y
054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 Y
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 Y
054 M001200 Y
054 N001200 N
054 O001200 N
055 A001200 N
055 B001200 N
056 001200 Y
057 001200 N
060 A001200 Y
060 B001200 Y
061 001200 500
062 A001200 Y
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062 C001200 0.0
062 D001200 0.0
062 E001200 5.3
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
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<PAGE> PAGE 55
062 O001200 97.5
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
063 A001200 0
063 B001200 20.9
064 A001200 N
066 A001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 Y
070 E021200 Y
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 N
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 Y
070 R021200 N
071 A001200 10252
071 B001200 8379
071 C001200 20467
<PAGE> PAGE 56
071 D001200 41
072 A001200 6
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072 S001200 1
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072 W001200 8
072 X001200 165
072 Y001200 26
072 Z001200 540
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072BB001200 280
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072DD021200 80
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074 C001200 1215
074 D001200 22095
074 E001200 0
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074 M001200 2
<PAGE> PAGE 57
074 N001200 23869
074 O001200 1001
074 P001200 9
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074 T001200 22669
074 U011200 1908
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075 A001200 0
075 B001200 21996
076 001200 0.00
008 A001301 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001301 A
008 C001301 801-5594
008 D011301 NEW YORK
008 D021301 NY
008 D031301 11019
015 A001301 BANK OF NEW YORK
015 B001301 C
015 C011301 NEW YORK
015 C021301 NY
015 C031301 10015
015 E011301 X
024 001300 N
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<PAGE> PAGE 58
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<PAGE> PAGE 59
048 A021300 0.000
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053 A001300 Y
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054 A001300 Y
054 B001300 Y
054 C001300 Y
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054 E001300 N
054 F001300 N
054 G001300 Y
054 H001300 Y
054 I001300 N
054 J001300 Y
054 K001300 N
054 L001300 Y
054 M001300 Y
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054 O001300 N
055 A001300 N
055 B001300 N
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057 001300 N
060 A001300 Y
060 B001300 Y
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<PAGE> PAGE 60
062 F001300 0.0
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063 B001300 20.1
064 A001300 N
066 A001300 N
067 001300 N
068 A001300 N
068 B001300 N
069 001300 N
070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 Y
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070 D021300 N
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070 E021300 Y
070 F011300 N
070 F021300 N
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070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 N
070 K021300 N
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 Y
070 N021300 N
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<PAGE> PAGE 61
070 P011300 Y
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070 Q021300 N
070 R011300 Y
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071 A001300 11733
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<PAGE> PAGE 62
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008 C001401 801-5594
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008 D031401 10019
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<PAGE> PAGE 63
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025 A001406 MERRILL LYNCH PIERCE FENNER & SMITH
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025 A001407 MERRILL LYNCH PIERCE FENNER & SMITH
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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054 B001400 N
054 C001400 N
054 D001400 N
054 E001400 N
054 F001400 N
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054 H001400 Y
054 I001400 N
054 J001400 Y
054 K001400 N
054 L001400 N
054 M001400 Y
054 N001400 N
054 O001400 N
055 A001400 N
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057 001400 N
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062 R001400 0.0
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<PAGE> PAGE 66
064 A001400 N
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 Y
069 001400 N
070 A011400 Y
070 A021400 N
070 B011400 N
070 B021400 N
070 C011400 Y
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 Y
070 E021400 N
070 F011400 N
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 Y
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 N
070 L011400 Y
070 L021400 Y
070 M011400 Y
070 M021400 Y
070 N011400 Y
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 Y
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 Y
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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008 C001501 801-5594
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008 D031501 10019
015 A001501 BANK OF NEW YORK
015 B001501 C
015 C011501 NEW YORK
015 C021501 NY
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015 E011501 X
024 001500 Y
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<PAGE> PAGE 69
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025 A001509 MERRILL LYNCH PIERCE FENNER & SMITH
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025 A001517 MERRILL LYNCH PIERCE FENNER & SMITH
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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SIGNATURE JENNIFER B. MCHUGH
TITLE ATTORNEY
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<PER-SHARE-NAV-BEGIN> 18.25
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 1.17
<PER-SHARE-DIVIDEND> (0.15)
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<PER-SHARE-NAV-END> 19.42
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 022
<NAME> MAINSTAY VALUE FUND-CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 769,156,305
<INVESTMENTS-AT-VALUE> 883,493,367
<RECEIVABLES> 21,748,598
<ASSETS-OTHER> 1,384
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<TOTAL-ASSETS> 905,243,349
<PAYABLE-FOR-SECURITIES> 13,801,792
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,297,268
<TOTAL-LIABILITIES> 18,099,060
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 714,802,471
<SHARES-COMMON-STOCK> 43,684,805
<SHARES-COMMON-PRIOR> 38,846,202
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (4,370)
<ACCUMULATED-NET-GAINS> 58,009,126
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 114,337,062
<NET-ASSETS> 887,144,289
<DIVIDEND-INCOME> 8,824,172
<INTEREST-INCOME> 2,232,276
<OTHER-INCOME> 0
<EXPENSES-NET> (6,611,702)
<NET-INVESTMENT-INCOME> 4,444,746
<REALIZED-GAINS-CURRENT> 52,214,221
<APPREC-INCREASE-CURRENT> (3,887,522)
<NET-CHANGE-FROM-OPS> 52,771,445
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,175,199)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,464,781
<NUMBER-OF-SHARES-REDEEMED> (2,714,060)
<SHARES-REINVESTED> 87,882
<NET-CHANGE-IN-ASSETS> 153,046,599
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5,794,905
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,242,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,612,000
<AVERAGE-NET-ASSETS> 821,450,000
<PER-SHARE-NAV-BEGIN> 18.25
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.16
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.41
<EXPENSE-RATIO> 1.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 031
<NAME> MAINSTAY CONVERTIBLE FUND-CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 674,781,160
<INVESTMENTS-AT-VALUE> 683,342,892
<RECEIVABLES> 62,013,862
<ASSETS-OTHER> 109,114,775
<OTHER-ITEMS-ASSETS> 22,419
<TOTAL-ASSETS> 854,493,948
<PAYABLE-FOR-SECURITIES> 47,762,503
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 118,797,474
<TOTAL-LIABILITIES> 166,559,977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 653,675,859
<SHARES-COMMON-STOCK> 3,099,259
<SHARES-COMMON-PRIOR> 1,994,969
<ACCUMULATED-NII-CURRENT> 1,392,879
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30,085,173
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,780,060
<NET-ASSETS> 687,933,971
<DIVIDEND-INCOME> 3,429,517
<INTEREST-INCOME> 13,261,215
<OTHER-INCOME> 0
<EXPENSES-NET> (6,247,938)
<NET-INVESTMENT-INCOME> 10,442,794
<REALIZED-GAINS-CURRENT> 25,901,284
<APPREC-INCREASE-CURRENT> (7,558,495)
<NET-CHANGE-FROM-OPS> 28,785,583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (772,519)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,411,871
<NUMBER-OF-SHARES-REDEEMED> (327,827)
<SHARES-REINVESTED> 20,246
<NET-CHANGE-IN-ASSETS> 43,424,334
<ACCUMULATED-NII-PRIOR> 1,412,984
<ACCUMULATED-GAINS-PRIOR> 4,353,158
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (169,269)
<GROSS-ADVISORY-FEES> 1,042,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,248,000
<AVERAGE-NET-ASSETS> 582,236,000
<PER-SHARE-NAV-BEGIN> 13.450
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> 0.560
<PER-SHARE-DIVIDEND> (0.270)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.010
<EXPENSE-RATIO> 1.6
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 032
<NAME> MAINSTAY CONVERTIBLE FUND-CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 674,781,160
<INVESTMENTS-AT-VALUE> 683,342,892
<RECEIVABLES> 62,013,862
<ASSETS-OTHER> 109,114,775
<OTHER-ITEMS-ASSETS> 22,419
<TOTAL-ASSETS> 854,493,948
<PAYABLE-FOR-SECURITIES> 47,762,503
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 118,797,474
<TOTAL-LIABILITIES> 166,559,977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 653,675,859
<SHARES-COMMON-STOCK> 46,050,387
<SHARES-COMMON-PRIOR> 31,790,037
<ACCUMULATED-NII-CURRENT> 1,392,879
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30,085,173
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,780,060
<NET-ASSETS> 687,933,971
<DIVIDEND-INCOME> 3,429,517
<INTEREST-INCOME> 13,261,215
<OTHER-INCOME> 0
<EXPENSES-NET> (6,247,938)
<NET-INVESTMENT-INCOME> 10,442,794
<REALIZED-GAINS-CURRENT> 25,901,284
<APPREC-INCREASE-CURRENT> (7,558,495)
<NET-CHANGE-FROM-OPS> 28,785,583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,690,380)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16,343,103
<NUMBER-OF-SHARES-REDEEMED> (2,334,547)
<SHARES-REINVESTED> 251,794
<NET-CHANGE-IN-ASSETS> 218,998,286
<ACCUMULATED-NII-PRIOR> 1,412,984
<ACCUMULATED-GAINS-PRIOR> 4,353,158
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (169,269)
<GROSS-ADVISORY-FEES> 1,042,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,248,000
<AVERAGE-NET-ASSETS> 582,236,000
<PER-SHARE-NAV-BEGIN> 13.450
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> 0.550
<PER-SHARE-DIVIDEND> (0.230)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.
<EXPENSE-RATIO> 2.2
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 041
<NAME> MAINSTAY HIGH YIELD CORPORATE BOND FUND-CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 2,007,828,376
<INVESTMENTS-AT-VALUE> 2,029,537,272
<RECEIVABLES> 94,234,443
<ASSETS-OTHER> 640,915
<OTHER-ITEMS-ASSETS> 11,222
<TOTAL-ASSETS> 2,124,423,852
<PAYABLE-FOR-SECURITIES> 74,023,727
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,034,597
<TOTAL-LIABILITIES> 93,058,324
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,973,973,399
<SHARES-COMMON-STOCK> 8,605,334
<SHARES-COMMON-PRIOR> 5,408,140
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,242,338)
<ACCUMULATED-NET-GAINS> 37,266,974
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,367,493
<NET-ASSETS> 2,031,365,528
<DIVIDEND-INCOME> 2,723,328
<INTEREST-INCOME> 91,709,203
<OTHER-INCOME> 0
<EXPENSES-NET> (14,514,530)
<NET-INVESTMENT-INCOME> 79,918,001
<REALIZED-GAINS-CURRENT> 40,479,195
<APPREC-INCREASE-CURRENT> (2,225,512)
<NET-CHANGE-FROM-OPS> 118,171,684
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,560,715)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,464,676
<NUMBER-OF-SHARES-REDEEMED> (1,458,210)
<SHARES-REINVESTED> 190,727
<NET-CHANGE-IN-ASSETS> 141,477,080
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (3,007,934)
<OVERDIST-NET-GAINS-PRIOR> (3,212,221)
<GROSS-ADVISORY-FEES> 2,590,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,515,000
<AVERAGE-NET-ASSETS> 1,848,580,000
<PER-SHARE-NAV-BEGIN> 7.920
<PER-SHARE-NII> 0.370
<PER-SHARE-GAIN-APPREC> 0.180
<PER-SHARE-DIVIDEND> (0.360)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.110
<EXPENSE-RATIO> 1.0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 042
<NAME> MAINSTAY HIGH YIELD CORPORATE BOND FUND-CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 2,007,828,376
<INVESTMENTS-AT-VALUE> 2,029,537,272
<RECEIVABLES> 94,234,443
<ASSETS-OTHER> 640,915
<OTHER-ITEMS-ASSETS> 11,222
<TOTAL-ASSETS> 2,124,423,852
<PAYABLE-FOR-SECURITIES> 74,023,727
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,034,597
<TOTAL-LIABILITIES> 93,058,324
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,973,973,399
<SHARES-COMMON-STOCK> 242,002,548
<SHARES-COMMON-PRIOR> 202,275,307
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,242,338)
<ACCUMULATED-NET-GAINS> 37,266,974
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,367,493
<NET-ASSETS> 2,031,365,528
<DIVIDEND-INCOME> 2,723,328
<INTEREST-INCOME> 91,709,203
<OTHER-INCOME> 0
<EXPENSES-NET> (14,514,530)
<NET-INVESTMENT-INCOME> 79,918,001
<REALIZED-GAINS-CURRENT> 40,479,195
<APPREC-INCREASE-CURRENT> (2,225,512)
<NET-CHANGE-FROM-OPS> 118,171,684
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (75,591,690)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,627,827
<NUMBER-OF-SHARES-REDEEMED> (19,097,815)
<SHARES-REINVESTED> 5,197,229
<NET-CHANGE-IN-ASSETS> 363,972,469
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (3,007,934)
<OVERDIST-NET-GAINS-PRIOR> (3,212,221)
<GROSS-ADVISORY-FEES> 2,590,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,515,000
<AVERAGE-NET-ASSETS> 1,848,580,000
<PER-SHARE-NAV-BEGIN> 7.920
<PER-SHARE-NII> 0.350
<PER-SHARE-GAIN-APPREC> 0.180
<PER-SHARE-DIVIDEND> (0.340)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.110
<EXPENSE-RATIO> 1.6
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 051
<NAME> MAINSTAY GOVERNMENT FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 1,022,024,795
<INVESTMENTS-AT-VALUE> 1,014,886,553
<RECEIVABLES> 54,986,210
<ASSETS-OTHER> 5,388
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,069,878,151
<PAYABLE-FOR-SECURITIES> 200,784,329
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,199,833
<TOTAL-LIABILITIES> 206,984,162
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,019,164,057
<SHARES-COMMON-STOCK> 2,023,842
<SHARES-COMMON-PRIOR> 1,519,718
<ACCUMULATED-NII-CURRENT> 1,122,505
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (150,254,331)
<ACCUM-APPREC-OR-DEPREC> (7,138,242)
<NET-ASSETS> 862,893,989
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 34,230,953
<OTHER-INCOME> 0
<EXPENSES-NET> (7,564,138)
<NET-INVESTMENT-INCOME> 26,666,815
<REALIZED-GAINS-CURRENT> (17,198,943)
<APPREC-INCREASE-CURRENT> (34,786,790)
<NET-CHANGE-FROM-OPS> (25,318,918)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (453,011)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 821,531
<NUMBER-OF-SHARES-REDEEMED> (347,409)
<SHARES-REINVESTED> 30,002
<NET-CHANGE-IN-ASSETS> (21,659,092)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (530,280)
<OVERDIST-NET-GAINS-PRIOR> (133,055,388)
<GROSS-ADVISORY-FEES> 1,382,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,564,000
<AVERAGE-NET-ASSETS> 926,603,000
<PER-SHARE-NAV-BEGIN> 8.410
<PER-SHARE-NII> 0.210
<PER-SHARE-GAIN-APPREC> (0.440)
<PER-SHARE-DIVIDEND> (0.210)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.970
<EXPENSE-RATIO> 1.1
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 052
<NAME> MAINSTAY GOVERNMENT FUND-CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 1,022,024,795
<INVESTMENTS-AT-VALUE> 1,014,886,553
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,069,878,151
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<OTHER-ITEMS-LIABILITIES> 6,199,833
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<PAID-IN-CAPITAL-COMMON> 1,019,164,057
<SHARES-COMMON-STOCK> 106,226,470
<SHARES-COMMON-PRIOR> 117,776,914
<ACCUMULATED-NII-CURRENT> 1,122,505
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<OVERDISTRIBUTION-GAINS> (150,254,331)
<ACCUM-APPREC-OR-DEPREC> (7,138,242)
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 34,230,953
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<EXPENSES-NET> (7,564,138)
<NET-INVESTMENT-INCOME> 26,666,815
<REALIZED-GAINS-CURRENT> (17,198,943)
<APPREC-INCREASE-CURRENT> (34,786,790)
<NET-CHANGE-FROM-OPS> (25,318,918)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (24,561,019)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,117,526
<NUMBER-OF-SHARES-REDEEMED> (18,534,386)
<SHARES-REINVESTED> 1,866,416
<NET-CHANGE-IN-ASSETS> (143,733,620)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (530,280)
<OVERDIST-NET-GAINS-PRIOR> (133,055,388)
<GROSS-ADVISORY-FEES> 1,382,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,564,000
<AVERAGE-NET-ASSETS> 926,603,000
<PER-SHARE-NAV-BEGIN> 8.410
<PER-SHARE-NII> 0.190
<PER-SHARE-GAIN-APPREC> (0.440)
<PER-SHARE-DIVIDEND> (0.190)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.970
<EXPENSE-RATIO> 1.7
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 061
<NAME> MAINSTAY MONEY MARKET FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 343,354,273
<INVESTMENTS-AT-VALUE> 343,354,273
<RECEIVABLES> 4,206,575
<ASSETS-OTHER> 647
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 347,561,495
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,908,708
<TOTAL-LIABILITIES> 2,908,708
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 344,664,490
<SHARES-COMMON-STOCK> 47,123,608
<SHARES-COMMON-PRIOR> 34,880,382
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,703)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 344,652,787
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,325,255
<OTHER-INCOME> 0
<EXPENSES-NET> (1,180,824)
<NET-INVESTMENT-INCOME> 8,144,431
<REALIZED-GAINS-CURRENT> 1,640
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,146,071
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,059,017)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 60,153,052
<NUMBER-OF-SHARES-REDEEMED> (48,910,136)
<SHARES-REINVESTED> 1,000,310
<NET-CHANGE-IN-ASSETS> 19,330,280
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (13,343)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 417,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,564,000
<AVERAGE-NET-ASSETS> 339,232,000
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.020)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.7
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 062
<NAME> MAINSTAY MONEY MARKET FUND - CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 343,354,273
<INVESTMENTS-AT-VALUE> 343,354,273
<RECEIVABLES> 4,206,575
<ASSETS-OTHER> 647
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 347,561,495
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,908,708
<TOTAL-LIABILITIES> 2,908,708
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 344,664,490
<SHARES-COMMON-STOCK> 297,540,886
<SHARES-COMMON-PRIOR> 279,856,045
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,703)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 344,652,787
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,325,255
<OTHER-INCOME> 0
<EXPENSES-NET> (1,180,824)
<NET-INVESTMENT-INCOME> 8,144,431
<REALIZED-GAINS-CURRENT> 1,640
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,146,071
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,085,414)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269,637,633
<NUMBER-OF-SHARES-REDEEMED> (258,732,852)
<SHARES-REINVESTED> 6,780,056
<NET-CHANGE-IN-ASSETS> 18,745,494
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (13,343)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 417,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,564,000
<AVERAGE-NET-ASSETS> 339,232,000
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.020)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.700
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 071
<NAME> MAINSTAY TAX FREE BOND FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 521,084,778
<INVESTMENTS-AT-VALUE> 516,552,834
<RECEIVABLES> 11,034,981
<ASSETS-OTHER> 3,167,392
<OTHER-ITEMS-ASSETS> 356,894
<TOTAL-ASSETS> 531,112,101
<PAYABLE-FOR-SECURITIES> 6,832,311
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,801,739
<TOTAL-LIABILITIES> 9,634,050
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 542,721,966
<SHARES-COMMON-STOCK> 1,371,861
<SHARES-COMMON-PRIOR> 972,846
<ACCUMULATED-NII-CURRENT> 601,967
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (17,937,375)
<ACCUM-APPREC-OR-DEPREC> (3,908,507)
<NET-ASSETS> 521,478,051
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,110,495
<OTHER-INCOME> 0
<EXPENSES-NET> (3,218,936)
<NET-INVESTMENT-INCOME> 13,891,559
<REALIZED-GAINS-CURRENT> 322,999
<APPREC-INCREASE-CURRENT> (21,981,877)
<NET-CHANGE-FROM-OPS> (7,767,319)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (315,481)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 503,044
<NUMBER-OF-SHARES-REDEEMED> (126,398)
<SHARES-REINVESTED> 22,369
<NET-CHANGE-IN-ASSETS> (4,182,262)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (45,290)
<OVERDIST-NET-GAINS-PRIOR> (18,260,374)
<GROSS-ADVISORY-FEES> 799,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,219,000
<AVERAGE-NET-ASSETS> 535,341,000
<PER-SHARE-NAV-BEGIN> 10.020
<PER-SHARE-NII> 0.260
<PER-SHARE-GAIN-APPREC> (0.390)
<PER-SHARE-DIVIDEND> (0.250)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.640
<EXPENSE-RATIO> 1.000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 072
<NAME> MAINSTAY TAX FREE BOND FUND - CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 521,084,778
<INVESTMENTS-AT-VALUE> 516,552,834
<RECEIVABLES> 11,034,981
<ASSETS-OTHER> 3,167,392
<OTHER-ITEMS-ASSETS> 356,894
<TOTAL-ASSETS> 531,112,101
<PAYABLE-FOR-SECURITIES> 6,832,311
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,801,739
<TOTAL-LIABILITIES> 9,634,050
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 542,721,966
<SHARES-COMMON-STOCK> 52,663,220
<SHARES-COMMON-PRIOR> 54,154,876
<ACCUMULATED-NII-CURRENT> 601,967
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (17,937,375)
<ACCUM-APPREC-OR-DEPREC> (3,908,507)
<NET-ASSETS> 521,478,051
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,110,495
<OTHER-INCOME> 0
<EXPENSES-NET> (3,218,936)
<NET-INVESTMENT-INCOME> 13,891,559
<REALIZED-GAINS-CURRENT> 322,999
<APPREC-INCREASE-CURRENT> (21,981,877)
<NET-CHANGE-FROM-OPS> (7,767,319)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,928,821)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,513,396
<NUMBER-OF-SHARES-REDEEMED> (4,697,251)
<SHARES-REINVESTED> 692,198
<NET-CHANGE-IN-ASSETS> (35,173,375)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (45,290)
<OVERDIST-NET-GAINS-PRIOR> (18,260,374)
<GROSS-ADVISORY-FEES> 799,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,219,000
<AVERAGE-NET-ASSETS> 535,341,000
<PER-SHARE-NAV-BEGIN> 10.030
<PER-SHARE-NII> 0.250
<PER-SHARE-GAIN-APPREC> (0.390)
<PER-SHARE-DIVIDEND> (0.240)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.650
<EXPENSE-RATIO> 1.200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 091
<NAME> MAINSTAY TOTAL RETURN FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 837,451,005
<INVESTMENTS-AT-VALUE> 1,053,260,952
<RECEIVABLES> 58,784,285
<ASSETS-OTHER> 1,551
<OTHER-ITEMS-ASSETS> 3,851
<TOTAL-ASSETS> 1,112,050,639
<PAYABLE-FOR-SECURITIES> 118,418,938
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,521,522
<TOTAL-LIABILITIES> 123,940,460
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 744,193,939
<SHARES-COMMON-STOCK> 2,205,637
<SHARES-COMMON-PRIOR> 1,036,716
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,739)
<ACCUMULATED-NET-GAINS> 28,113,032
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 215,809,947
<NET-ASSETS> 988,110,179
<DIVIDEND-INCOME> 1,640,332
<INTEREST-INCOME> 12,318,684
<OTHER-INCOME> 0
<EXPENSES-NET> (7,480,215)
<NET-INVESTMENT-INCOME> 6,478,801
<REALIZED-GAINS-CURRENT> 24,868,831
<APPREC-INCREASE-CURRENT> 14,726,766
<NET-CHANGE-FROM-OPS> 46,074,398
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (351,753)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,364,239
<NUMBER-OF-SHARES-REDEEMED> (202,946)
<SHARES-REINVESTED> 7,628
<NET-CHANGE-IN-ASSETS> 67,875,171
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,244,201
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,462,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,480,000
<AVERAGE-NET-ASSETS> 946,386,000
<PER-SHARE-NAV-BEGIN> 18.530
<PER-SHARE-NII> 0.170
<PER-SHARE-GAIN-APPREC> 0.810
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.170)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 19.340
<EXPENSE-RATIO> 1.110
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 092
<NAME> MAINSTAY TOTAL RETURN FUND - CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 837,451,005
<INVESTMENTS-AT-VALUE> 1,053,260,952
<RECEIVABLES> 58,784,285
<ASSETS-OTHER> 1,551
<OTHER-ITEMS-ASSETS> 3,851
<TOTAL-ASSETS> 1,112,050,639
<PAYABLE-FOR-SECURITIES> 118,418,938
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,521,522
<TOTAL-LIABILITIES> 123,940,460
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 744,193,939
<SHARES-COMMON-STOCK> 48,880,456
<SHARES-COMMON-PRIOR> 46,458,958
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,739)
<ACCUMULATED-NET-GAINS> 28,113,032
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 215,809,947
<NET-ASSETS> 988,110,179
<DIVIDEND-INCOME> 1,640,332
<INTEREST-INCOME> 12,318,684
<OTHER-INCOME> 0
<EXPENSES-NET> (7,480,215)
<NET-INVESTMENT-INCOME> 6,478,801
<REALIZED-GAINS-CURRENT> 24,868,831
<APPREC-INCREASE-CURRENT> 14,726,766
<NET-CHANGE-FROM-OPS> 46,074,398
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,133,787)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,381,187
<NUMBER-OF-SHARES-REDEEMED> (3,103,271)
<SHARES-REINVESTED> 143,582
<NET-CHANGE-IN-ASSETS> 86,221,992
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,244,201
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,462,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,480,000
<AVERAGE-NET-ASSETS> 946,386,000
<PER-SHARE-NAV-BEGIN> 18.530
<PER-SHARE-NII> 0.130
<PER-SHARE-GAIN-APPREC> 0.810
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.130)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 19.340
<EXPENSE-RATIO> 1.620
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 111
<NAME> MAINSTAY EQUITY INDEX FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 123,206,106
<INVESTMENTS-AT-VALUE> 159,506,524
<RECEIVABLES> 2,777,566
<ASSETS-OTHER> 121,224
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 162,405,314
<PAYABLE-FOR-SECURITIES> 1,702,419
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 788,513
<TOTAL-LIABILITIES> 2,490,932
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 119,500,177
<SHARES-COMMON-STOCK> 7,614,095
<SHARES-COMMON-PRIOR> 5,708,350
<ACCUMULATED-NII-CURRENT> 1,240,274
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,864,988
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,308,943
<NET-ASSETS> 159,914,382
<DIVIDEND-INCOME> 1,305,091
<INTEREST-INCOME> 474,718
<OTHER-INCOME> 0
<EXPENSES-NET> (537,170)
<NET-INVESTMENT-INCOME> 1,242,639
<REALIZED-GAINS-CURRENT> 2,265,969
<APPREC-INCREASE-CURRENT> 8,589,323
<NET-CHANGE-FROM-OPS> 12,097,931
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,371,724)
<DISTRIBUTIONS-OF-GAINS> (1,775,167)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,258,308
<NUMBER-OF-SHARES-REDEEMED> (347,361)
<SHARES-REINVESTED> 162,523
<NET-CHANGE-IN-ASSETS> 50,606,713
<ACCUMULATED-NII-PRIOR> 1,369,359
<ACCUMULATED-GAINS-PRIOR> 2,374,186
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 67,146
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 701,338
<AVERAGE-NET-ASSETS> 135,030,366
<PER-SHARE-NAV-BEGIN> 19.150
<PER-SHARE-NII> 0.140
<PER-SHARE-GAIN-APPREC> 1.710
<PER-SHARE-DIVIDEND> (0.240)
<PER-SHARE-DISTRIBUTIONS> (0.310)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.000
<EXPENSE-RATIO> 0.800
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 121
<NAME> MAINSTAY CALIFORNIA TAX FREE FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 23,609,033
<INVESTMENTS-AT-VALUE> 23,310,219
<RECEIVABLES> 497,808
<ASSETS-OTHER> 60,672
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 23,868,699
<PAYABLE-FOR-SECURITIES> 1,001,330
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198,307
<TOTAL-LIABILITIES> 1,199,637
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23,156,327
<SHARES-COMMON-STOCK> 1,907,618
<SHARES-COMMON-PRIOR> 1,991,937
<ACCUMULATED-NII-CURRENT> 7,673
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (196,124)
<ACCUM-APPREC-OR-DEPREC> (298,814)
<NET-ASSETS> 22,669,062
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 679,236
<OTHER-INCOME> 0
<EXPENSES-NET> (139,326)
<NET-INVESTMENT-INCOME> 539,910
<REALIZED-GAINS-CURRENT> (59,779)
<APPREC-INCREASE-CURRENT> (747,877)
<NET-CHANGE-FROM-OPS> (267,746)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (481,002)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 69,828
<NUMBER-OF-SHARES-REDEEMED> (178,130)
<SHARES-REINVESTED> 23,983
<NET-CHANGE-IN-ASSETS> (1,566,245)
<ACCUMULATED-NII-PRIOR> 28,449
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (136,345)
<GROSS-ADVISORY-FEES> 27,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 165,000
<AVERAGE-NET-ASSETS> 21,996,000
<PER-SHARE-NAV-BEGIN> 9.950
<PER-SHARE-NII> 0.230
<PER-SHARE-GAIN-APPREC> (0.350)
<PER-SHARE-DIVIDEND> (0.250)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.580
<EXPENSE-RATIO> 1.240
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 122
<NAME> MAINSTAY CALIFORNIA TAX FREE FUND - CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 23,609,033
<INVESTMENTS-AT-VALUE> 23,310,219
<RECEIVABLES> 497,808
<ASSETS-OTHER> 60,672
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 23,868,699
<PAYABLE-FOR-SECURITIES> 1,001,330
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198,307
<TOTAL-LIABILITIES> 1,199,637
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23,156,327
<SHARES-COMMON-STOCK> 460,778
<SHARES-COMMON-PRIOR> 198,040
<ACCUMULATED-NII-CURRENT> 7,673
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (196,124)
<ACCUM-APPREC-OR-DEPREC> (298,814)
<NET-ASSETS> 22,669,062
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 679,236
<OTHER-INCOME> 0
<EXPENSES-NET> (139,326)
<NET-INVESTMENT-INCOME> 539,910
<REALIZED-GAINS-CURRENT> (59,779)
<APPREC-INCREASE-CURRENT> (747,877)
<NET-CHANGE-FROM-OPS> (267,746)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (79,684)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 267,531
<NUMBER-OF-SHARES-REDEEMED> (9,063)
<SHARES-REINVESTED> 4,270
<NET-CHANGE-IN-ASSETS> 2,179,729
<ACCUMULATED-NII-PRIOR> 28,449
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (136,345)
<GROSS-ADVISORY-FEES> 27,000
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<NAME> THE MAINSTAY FUNDS
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<NUMBER> 131
<NAME> MAINSTAY NEW YORK TAX FREE FUND - CLASS A
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<NAME> THE MAINSTAY FUNDS
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<NUMBER> 132
<NAME> MAINSTAY NEW YORK TAX FREE FUND - CLASS B
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<S> <C>
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 141
<NAME> MAINSTAY INTERNATIONAL BOND - CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 142
<NAME> MAINSTAY INTERNATIONAL BOND - CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
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<TABLE> <S> <C>
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<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 151
<NAME> INTERNATIONAL EQUITY FUND - CLASS A
<MULTIPLIER> 1
<S> <C>
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<TABLE> <S> <C>
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<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES>
<NUMBER> 152
<NAME> INTERNATIONAL EQUITY FUND - CLASS B
<MULTIPLIER> 1
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1996
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