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<PAGE> PAGE 7
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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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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<PAGE> PAGE 42
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008 A000901 MACKAY-SHIELDS FINANCIAL CORPORATION
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015 A000901 STATE STREET BANK & TRUST COMPANY
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025 C000902 D
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025 A000903 LEHMAN BROS, INC.
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025 A000904 LEHMAN LARGE LOAN 97-LL1 A1
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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048 K020900 0.000
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054 A000900 Y
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054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
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054 I000900 N
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054 L000900 N
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060 B000900 Y
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<PAGE> PAGE 45
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066 D000900 N
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066 F000900 N
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067 000900 Y
068 A000900 N
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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 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
<PAGE> PAGE 46
070 M020900 N
070 N010900 Y
070 N020900 Y
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 47
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015 A001101 BANK OF NEW YORK
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<PAGE> PAGE 48
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039 001100 N
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<PAGE> PAGE 49
042 E001100 0
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054 E001100 N
054 F001100 N
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054 J001100 Y
054 K001100 N
054 L001100 Y
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<PAGE> PAGE 50
057 001100 Y
060 A001100 Y
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<PAGE> PAGE 51
070 J011100 Y
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<PAGE> PAGE 52
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008 B001201 S
008 C001201 801-5594
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
042 H001200 0
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<PAGE> PAGE 56
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<PAGE> PAGE 57
070 L011200 N
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<PAGE> PAGE 58
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008 A001301 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001301 S
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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036 B001300 0
037 001300 N
038 001300 0
039 001300 N
040 001300 Y
041 001300 Y
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042 D001300 0
042 E001300 0
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042 H001300 0
043 001300 59
<PAGE> PAGE 61
044 001300 0
045 001300 Y
046 001300 N
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048 A011300 0
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048 B011300 0
048 B021300 0.000
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048 E021300 0.000
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048 I021300 0.000
048 J011300 0
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048 K021300 0.000
053 A001300 Y
053 B001300 Y
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054 A001300 Y
054 B001300 Y
054 C001300 Y
054 D001300 N
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
054 N001300 N
054 O001300 N
055 A001300 Y
055 B001300 N
056 001300 Y
057 001300 N
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<PAGE> PAGE 62
061 001300 500
062 A001300 Y
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062 I001300 0.0
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062 K001300 0.0
062 L001300 0.0
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062 O001300 100.6
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062 Q001300 2.0
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063 B001300 22.3
064 A001300 N
066 A001300 N
067 001300 N
068 A001300 N
068 B001300 N
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070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
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070 C021300 N
070 D011300 N
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070 E021300 Y
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070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 Y
070 K011300 N
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070 L021300 N
<PAGE> PAGE 63
070 M011300 N
070 M021300 N
070 N011300 N
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070 O011300 Y
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070 Q011300 N
070 Q021300 N
070 R011300 N
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<PAGE> PAGE 64
073 B001300 0.1361
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<PAGE> PAGE 65
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<PAGE> PAGE 66
028 A011400 706
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<PAGE> PAGE 67
042 F001400 0
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054 E001400 N
054 F001400 N
054 G001400 Y
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054 J001400 Y
054 K001400 N
054 L001400 N
054 M001400 Y
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054 O001400 N
055 A001400 N
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<PAGE> PAGE 68
057 001400 N
058 A001400 N
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064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
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069 001400 N
070 A011400 Y
070 A021400 N
070 B011400 N
070 B021400 N
070 C011400 Y
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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
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<PAGE> PAGE 69
070 J021400 N
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070 K021400 N
070 L011400 Y
070 L021400 Y
070 M011400 Y
070 M021400 Y
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
031 A001500 6
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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008 A001701 MACKAY-SHIELDS FINANCIAL CORPORATION
008 B001701 S
008 C001701 801-5594
008 D011701 NEW YORK
008 D021701 NY
008 D031701 10019
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015 B001701 C
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<PAGE> PAGE 83
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054 D001700 N
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SIGNATURE JENNIFER B. MCHUGH
TITLE ATTORNEY
Price Waterhouse LLP
February 25, 1998
To the Shareholders and Board of Trustees of
The MainStay Funds
In planning and performing our audit of the financial statements of The MainStay
Funds (the "Funds") for the year ended December 31, 1997, we considered their
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
control activities. Generally, control activities that are relevant to an audit
pertain to the entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally accepted
accounting principles. Those control activities include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control components does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal control,
including control activities for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1997.
This report is intended solely for the information and use of management and the
Board of Trustees of the Funds and the Securities and Exchange Commission.
PRICE WATERHOUSE LLP
MainStay Funds Inc.
Submission of Matters to a Vote of Security Holders
in response to Sub-Item 77C
On October 24, 1997, the MainStay Funds Inc. held a special meeting of
shareholders.
The shareholders voted to approve a new Management Agreement with MainStay
Management, Inc. (the "Manager"). 4,528,414.08 shares of the Strategic Income
Fund were voted for this proposal; 21,823.43 were voted against; and 100,119.52
shares abstained. 3,713,789.38 shares of the International Equity Fund were
voted for this proposal; 68,752.26 were voted against; and 255,041.70 abstained.
6,063,906.34 shares of the Equity Index Fund were voted for this proposal;
90,586.50 were voted against; and 247,484.59 abstained. 2,026,239.20 shares of
the International Bond Fund were voted for this proposal; 19,144.39 were voted
against; and 58,117.08 abstained. 185,777,554.51 shares of the Money Market Fund
were voted for the proposal; 4,776,866.50 shares were voted against; and
14,452,012.78 abstained. 24,931,117.34 shares of the Capital Appreciation Fund
voted for the proposal; 576,763.13 were voted against; and 1,851,150.40
abstained. 24,824,515.35 shares of the Tax Free Bond Fund voted for the
proposal; 469,871.25 voted against; and 1,691,440.91 abstained. 1,138,809.33
shares of the New York Tax Free Fund voted for the proposal; 6,074.27 shares
were voted against; and 56,404.93 abstained. 1,135,969.02 shares of the
California Tax Free Fund were voted for the proposal; 36,150.40 were voted
against; and 54,661.48 abstained. 33,044,804.88 shares of the Convertible Fund
were voted for the proposal; 721,187.24 were voted against; and 1,544,681.51
abstained. 28,354,441.89 shares of the Value Fund were voted for the proposal;
628,301.18 were voted against; and 1,761,243.50 abstained. 25,866,667.82 shares
of the Total Return Fund were voted for the proposal; 637,076.18 were voted
against; and 2,264,862.25 abstained. 39,855,134.49 shares of the Government Fund
were voted for the proposal; 919,464.17 were voted against; and 3,347,626.63
abstained. 217,520,713.74 shares of the High Yield Corporate Bond Fund were
voted for the proposal; 3,929,089.34 were voted against; and 10,958,702.91
abstained.
The shareholders also voted to approve Sub-Advisory Agreements between the
Manager and MacKay-Shields Financial Corporation on behalf of each Fund.
4,524,979.03 shares of the Strategic Income Fund were voted for this proposal;
32,447.58 were voted against; and 92,930.42 shares abstained. 3,707,953.47
shares of the International Equity Fund were voted for this proposal; 80,978.07
were voted against; and 248,663.17 abstained. 2,019,268.13 shares of the
International Bond Fund were voted for this proposal; 22,997.52 were voted
against; and 61,233.46 abstained. 185,209,434.26 shares of the Money Market Fund
were voted for the proposal; 4,902,777.78 shares were voted against; and
14,894,220.75 abstained. 24,897,076.33 shares of the Capital Appreciation Fund
voted for the proposal; 544,352.12 were voted against; and 1,851,150.40
abstained. 24,866,298.37 shares of the Tax Free Bond Fund voted for the
proposal; 405,760.22 voted against; and 1,713,768.92 abstained. 1,139,906.79
shares of the New York Tax Free Fund voted for the proposal; 23,505.24 shares
were voted against; and 37,878.23 abstained. 1,125,178.13 shares of the
California Tax Free Fund were voted for the proposal; 33,715.37 were voted
against; and 67,889.99 abstained. 32,949,303.85 shares of the Convertible Fund
were voted for the proposal; 721,918.24 were voted against; and 1,639,452.54
abstained. 28,379,155.90 shares of the Value Fund were voted for the proposal;
548,352.16 were voted against; and 1,816,477.51 abstained. 25,771,556.79 shares
of the Total Return Fund were voted for the proposal; 627,392.18 were voted
against; and 2,369,657.28 abstained. 39,789,598.48 shares of the Government Fund
were voted for the proposal; 860,367.16 were voted against; and 3,472,261.65
abstained. 217,006,075.70 shares of the High Yield Corporate Bond Fund were
voted for the proposal; 4,001,300.35 were voted against; and 10,958,127.95
abstained.
The Equity Index Fund approved a Sub-Advisory Agreement between the Manager
and Monitor Capital Advisors, Inc. 6,039,423.09 shares of the Fund were voted
for the proposal; 90,011.61 shares were voted against; and 272,542.73 abstained.
The Funds also voted to eliminate or revise certain fundamental investment
restrictions. 4,187,780.72 shares of the Strategic Income Fund were voted for
this proposal; 26,417.68 were voted against; and 98,590.75 shares abstained.
3,274,393.20 shares of the International Equity Fund were voted for this
proposal; 84,527.96 were voted against; and 305,859.55 abstained. 4,411,650.62
shares of the Equity Index Fund were voted for this proposal; 157,655.01 were
voted against; and 296,722.81 abstained. 1,695,679.23 shares of the
International Bond Fund were voted for this proposal; 39,322.18 were voted
against; and 88,101.93 abstained. 177,370,423.05 shares of the Money Market Fund
were voted for the proposal; 6,500,720.66 shares were voted against; and
15,997,267.08 abstained. 22,096,286.20 shares of the Capital Appreciation Fund
voted for the proposal; 730,609.17 were voted against; and 2,048,578.49
abstained. 24,085,298.14 shares of the Tax Free Bond Fund voted for the
proposal; 560,118.31 voted against; and 1,956,683.07 abstained. 1,073,576.74
shares of the New York Tax Free Fund voted for the proposal; 32,702.75 shares
were voted against; and 48,506.51 abstained. 1,076,239.43 shares of the
California Tax Free Fund were voted for the proposal; 37,253.88 were voted
against; and 95,065.49 abstained. 24,123,316.38 shares of the Convertible Fund
were voted for the proposal; 1,006,110.43 were voted against; and 1,899,981.82
abstained. 24,013,029.65 shares of the Value Fund were voted for the proposal;
819,870.27 were voted against; and 2,019,664.65 abstained. 24,217,245.59 shares
of the Total Return Fund were voted for the proposal; 975,279.29 were voted
against; and 2,602,649.38 abstained. 37,886,579.29 shares of the Government Fund
were voted for the proposal; 1,358,396.26 were voted against; and 3,848,251.74
abstained. 162,247,455.88 shares of the High Yield Corporate Bond Fund were
voted for the proposal; 6,042,992.67 were voted against; and 12,984,379.44
abstained.
In addition, the Funds voted to approve the amendment to the Plan of
Distribution for Class B shares. 2,314,835.84 shares of the International Equity
Fund were voted for this proposal; 84,561.03 were voted against; and 201,973.07
abstained. 836,707.84 shares of the International Bond Fund were voted for this
proposal; 14,997.02 were voted against; and 37,889.04 abstained. 19,554,831.29
shares of the Capital Appreciation Fund voted for the proposal; 919,206.01 were
voted against; and 1,919,116.03 abstained. 23,708,689.92 shares of the Tax Free
Bond Fund voted for the proposal; 474,916.02 voted against; and 1,874,877.07
abstained. 247,325.00 shares of the New York Tax Free Fund voted for the
proposal; 2,677.13 shares were voted against; and 18,028.87 abstained.
295,656.71 shares of the California Tax Free Fund were voted for the proposal;
15,356.61 were voted against; and 30,113.19 abstained. 22,698,297.62 shares of
the Convertible Fund were voted for the proposal; 901,427.02 were voted against;
and 1,621,085.04 abstained. 21,497,078.41 shares of the Value Fund were voted
for the proposal; 1,204,654.02 were voted against; and 1,826,594.03 abstained.
22,029,995.43 shares of the Total Return Fund were voted for the proposal;
825,507.02 were voted against; and 2,209,350.04 abstained. 37,451,546.43 shares
of the Government Fund were voted for the proposal; 940,275.01 were voted
against; and 3,762,590.04 abstained. 154,060,365.07 shares of the High Yield
Corporate Bond Fund were voted for the proposal; 5,649,299.04 were voted
against; and 11,508,862.08 abstained.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (7,157,066)
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<NUMBER-OF-SHARES-SOLD> 6,499,220
<NUMBER-OF-SHARES-REDEEMED> (4,938,423)
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<NET-CHANGE-IN-ASSETS> 89,334,181
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 27,924,000
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<PER-SHARE-NAV-BEGIN> 30.560
<PER-SHARE-NII> (0.160)
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (13,228,344)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,484,730
<NUMBER-OF-SHARES-REDEEMED> (1,049,131)
<SHARES-REINVESTED> 661,640
<NET-CHANGE-IN-ASSETS> 50,751,754
<ACCUMULATED-NII-PRIOR> 115,020
<ACCUMULATED-GAINS-PRIOR> 20,406,340
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<GROSS-ADVISORY-FEES> 4,406,340
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 20,849,000
<AVERAGE-NET-ASSETS> 1,308,575,000
<PER-SHARE-NAV-BEGIN> 20.340
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> 4.100
<PER-SHARE-DIVIDEND> (0.270)
<PER-SHARE-DISTRIBUTIONS> (2.680)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.760
<EXPENSE-RATIO> 1.100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY VALUE FUND
<NUMBER> 022
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 1,280,767,843
<INVESTMENTS-AT-VALUE> 1,536,616,624
<RECEIVABLES> 7,879,613
<ASSETS-OTHER> 972
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<TOTAL-ASSETS> 1,544,497,209
<PAYABLE-FOR-SECURITIES> 15,321,630
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<OTHER-ITEMS-LIABILITIES> 5,575,772
<TOTAL-LIABILITIES> 20,897,402
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<PAID-IN-CAPITAL-COMMON> 1,232,203,977
<SHARES-COMMON-STOCK> 64,367,971
<SHARES-COMMON-PRIOR> 50,151,718
<ACCUMULATED-NII-CURRENT> 246,475
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<ACCUMULATED-NET-GAINS> 35,300,574
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 255,848,781
<NET-ASSETS> 1,523,599,807
<DIVIDEND-INCOME> 26,394,320
<INTEREST-INCOME> 4,046,225
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<EXPENSES-NET> (20,849,317)
<NET-INVESTMENT-INCOME> 9,591,228
<REALIZED-GAINS-CURRENT> 181,024,677
<APPREC-INCREASE-CURRENT> 61,934,892
<NET-CHANGE-FROM-OPS> 252,550,797
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,257,288)
<DISTRIBUTIONS-OF-GAINS> (152,902,096)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,270,869
<NUMBER-OF-SHARES-REDEEMED> (7,459,666)
<SHARES-REINVESTED> 7,405,050
<NET-CHANGE-IN-ASSETS> 380,281,511
<ACCUMULATED-NII-PRIOR> 115,020
<ACCUMULATED-GAINS-PRIOR> 20,406,340
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,456,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 20,849,000
<AVERAGE-NET-ASSETS> 1,308,575,000
<PER-SHARE-NAV-BEGIN> 20.320
<PER-SHARE-NII> 0.150
<PER-SHARE-GAIN-APPREC> 4.100
<PER-SHARE-DIVIDEND> (0.150)
<PER-SHARE-DISTRIBUTIONS> (2.680)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.740
<EXPENSE-RATIO> 1.600
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY CONVERTIBLE FUND
<NUMBER> 031
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 588,151,031
<INVESTMENTS-AT-VALUE> 861,955,040
<RECEIVABLES> 55,015,128
<ASSETS-OTHER> 152,903,520
<OTHER-ITEMS-ASSETS> 1,049,531
<TOTAL-ASSETS> 1,070,923,219
<PAYABLE-FOR-SECURITIES> 9,951,036
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 155,187,039
<TOTAL-LIABILITIES> 165,138,075
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 898,258,301
<SHARES-COMMON-STOCK> 4,748,983
<SHARES-COMMON-PRIOR> 4,101,318
<ACCUMULATED-NII-CURRENT> 538,389
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 44,533
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,942,921
<NET-ASSETS> 905,785,144
<DIVIDEND-INCOME> 15,128,244
<INTEREST-INCOME> 36,032,265
<OTHER-INCOME> 0
<EXPENSES-NET> (18,749,308)
<NET-INVESTMENT-INCOME> 32,411,201
<REALIZED-GAINS-CURRENT> 70,276,610
<APPREC-INCREASE-CURRENT> (7,996,526)
<NET-CHANGE-FROM-OPS> 94,691,285
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,668,900)
<DISTRIBUTIONS-OF-GAINS> (5,382,678)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,069,769
<NUMBER-OF-SHARES-REDEEMED> (973,349)
<SHARES-REINVESTED> 551,245
<NET-CHANGE-IN-ASSETS> 95,393,648
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 6,283,235
<OVERDISTRIB-NII-PRIOR> (263,608)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,710,000)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (18,749,000)
<AVERAGE-NET-ASSETS> 921,044,000
<PER-SHARE-NAV-BEGIN> 13.810
<PER-SHARE-NII> 0.600
<PER-SHARE-GAIN-APPREC> 0.840
<PER-SHARE-DIVIDEND> (0.600)
<PER-SHARE-DISTRIBUTIONS> (1.220)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.530
<EXPENSE-RATIO> 1.4500
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY CONVERTIBLE FUND
<NUMBER> 032
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 855,151,031
<INVESTMENTS-AT-VALUE> 861,855,040
<RECEIVABLES> 55,015,128
<ASSETS-OTHER> 152,903,520
<OTHER-ITEMS-ASSETS> 1,049,531
<TOTAL-ASSETS> 1,070,923,219
<PAYABLE-FOR-SECURITIES> 8,851,036
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 155,187,039
<TOTAL-LIABILITIES> 165,138,075
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 898,269,301
<SHARES-COMMON-STOCK> 62,231,047
<SHARES-COMMON-PRIOR> 57,781,155
<ACCUMULATED-NII-CURRENT> 538,389
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 44,533
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,942,921
<NET-ASSETS> 905,785,144
<DIVIDEND-INCOME> 15,128,244
<INTEREST-INCOME> 36,032,265
<OTHER-INCOME> 0
<EXPENSES-NET> (18,749,308)
<NET-INVESTMENT-INCOME> 32,411,201
<REALIZED-GAINS-CURRENT> 70,276,610
<APPREC-INCREASE-CURRENT> (7,996,526)
<NET-CHANGE-FROM-OPS> 94,691,285
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (30,007,599)
<DISTRIBUTIONS-OF-GAINS> (70,065,339)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,665,669
<NUMBER-OF-SHARES-REDEEMED> (10,776,988)
<SHARES-REINVESTED> 6,561,212
<NET-CHANGE-IN-ASSETS> 51,309,038
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 6,283,235
<OVERDISTRIB-NII-PRIOR> (263,608)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,710,000)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (18,749,000)
<AVERAGE-NET-ASSETS> 921,044,000
<PER-SHARE-NAV-BEGIN> 13.800
<PER-SHARE-NII> 0.510
<PER-SHARE-GAIN-APPREC> 0.940
<PER-SHARE-DIVIDEND> (0.510)
<PER-SHARE-DISTRIBUTIONS> (1.220)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 13.620
<EXPENSE-RATIO> 2.0800
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY HIGH YIELD CORPORATE BOND FUND
<NUMBER> 041
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,489,750,256
<INVESTMENTS-AT-VALUE> 3,507,653,365
<RECEIVABLES> 113,653,798
<ASSETS-OTHER> 93,450
<OTHER-ITEMS-ASSETS> 13,599,303
<TOTAL-ASSETS> 3,634,999,916
<PAYABLE-FOR-SECURITIES> 7,068,109
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,651,652
<TOTAL-LIABILITIES> 15,719,761
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,586,397,928
<SHARES-COMMON-STOCK> 29,251,806
<SHARES-COMMON-PRIOR> 14,129,093
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (872,247)
<ACCUMULATED-NET-GAINS> 15,181,110
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18,563,364
<NET-ASSETS> 3,619,280,155
<DIVIDEND-INCOME> 12,577,483
<INTEREST-INCOME> 293,702,042
<OTHER-INCOME> 0
<EXPENSES-NET> (49,532,130)
<NET-INVESTMENT-INCOME> 256,747,395
<REALIZED-GAINS-CURRENT> 148,542,682
<APPREC-INCREASE-CURRENT> (64,051,793)
<NET-CHANGE-FROM-OPS> 341,238,284
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,875,053)
<DISTRIBUTIONS-OF-GAINS> (9,477,663)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,799,104
<NUMBER-OF-SHARES-REDEEMED> (9,042,537)
<SHARES-REINVESTED> 2,366,146
<NET-CHANGE-IN-ASSETS> 443,076,546
<ACCUMULATED-NII-PRIOR> 823,169
<ACCUMULATED-GAINS-PRIOR> 11,950,221
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,922,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49,532,000
<AVERAGE-NET-ASSETS> 3,124,388,000
<PER-SHARE-NAV-BEGIN> 8.270
<PER-SHARE-NII> 0.740
<PER-SHARE-GAIN-APPREC> 0.230
<PER-SHARE-DIVIDEND> (0.740)
<PER-SHARE-DISTRIBUTIONS> (0.340)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.160
<EXPENSE-RATIO> 1.0100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY HIGH YIELD CORPORATE BOND FUND
<NUMBER> 042
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 3,489,750,256
<INVESTMENTS-AT-VALUE> 3,507,653,365
<RECEIVABLES> 113,653,798
<ASSETS-OTHER> 93,450
<OTHER-ITEMS-ASSETS> 13,599,303
<TOTAL-ASSETS> 3,634,999,916
<PAYABLE-FOR-SECURITIES> 7,068,109
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,651,652
<TOTAL-LIABILITIES> 15,719,761
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,586,397,928
<SHARES-COMMON-STOCK> 414,624,110
<SHARES-COMMON-PRIOR> 295,648,907
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (672,247)
<ACCUMULATED-NET-GAINS> 15,191,110
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18,563,364
<NET-ASSETS> 3,619,280,155
<DIVIDEND-INCOME> 12,577,483
<INTEREST-INCOME> 293,702,042
<OTHER-INCOME> 0
<EXPENSES-NET> (49,532,130)
<NET-INVESTMENT-INCOME> 256,747,395
<REALIZED-GAINS-CURRENT> 148,542,682
<APPREC-INCREASE-CURRENT> (64,051,793)
<NET-CHANGE-FROM-OPS> 341,238,284
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (243,546,134)
<DISTRIBUTIONS-OF-GAINS> (134,845,754)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 142,143,520
<NUMBER-OF-SHARES-REDEEMED> (56,200,883)
<SHARES-REINVESTED> 33,032,566
<NET-CHANGE-IN-ASSETS> 959,456,723
<ACCUMULATED-NII-PRIOR> 823,169
<ACCUMULATED-GAINS-PRIOR> 11,950,221
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,922,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49,532,000
<AVERAGE-NET-ASSETS> 3,124,388,000
<PER-SHARE-NAV-BEGIN> 8.260
<PER-SHARE-NII> 0.690
<PER-SHARE-GAIN-APPREC> 0.230
<PER-SHARE-DIVIDEND> (0.690)
<PER-SHARE-DISTRIBUTIONS> (0.340)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.150
<EXPENSE-RATIO> 1.6200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY GOVERNMENT FUND
<NUMBER> 051
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 750,585,759
<INVESTMENTS-AT-VALUE> 766,809,853
<RECEIVABLES> 65,744,892
<ASSETS-OTHER> 3,342
<OTHER-ITEMS-ASSETS> 201,575,294
<TOTAL-ASSETS> 1,034,133,381
<PAYABLE-FOR-SECURITIES> 176,327,004
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 204,201,570
<TOTAL-LIABILITIES> 380,528,574
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 775,957,112
<SHARES-COMMON-STOCK> 2,069,731
<SHARES-COMMON-PRIOR> 2,037,511
<ACCUMULATED-NII-CURRENT> 4,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (138,580,517)
<ACCUM-APPREC-OR-DEPREC> 16,224,094
<NET-ASSETS> 653,604,807
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 51,650,701
<OTHER-INCOME> 0
<EXPENSES-NET> (11,558,021)
<NET-INVESTMENT-INCOME> 40,092,680
<REALIZED-GAINS-CURRENT> 2,612,844
<APPREC-INCREASE-CURRENT> 13,181,818
<NET-CHANGE-FROM-OPS> 55,887,342
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,019,757)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,340,808
<NUMBER-OF-SHARES-REDEEMED> (1,399,923)
<SHARES-REINVESTED> 91,535
<NET-CHANGE-IN-ASSETS> 55,100,102
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (141,994,419)
<GROSS-ADVISORY-FEES> 2,474,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11,558,000
<AVERAGE-NET-ASSETS> 705,752,000
<PER-SHARE-NAV-BEGIN> 8.060
<PER-SHARE-NII> 0.500
<PER-SHARE-GAIN-APPREC> 0.210
<PER-SHARE-DIVIDEND> (0.500)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.270
<EXPENSE-RATIO> 1.650
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY GOVERNMENT FUND
<NUMBER> 052
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 750,585,759
<INVESTMENTS-AT-VALUE> 766,809,853
<RECEIVABLES> 65,774,892
<ASSETS-OTHER> 3,342
<OTHER-ITEMS-ASSETS> 201,575,294
<TOTAL-ASSETS> 1,034,133,381
<PAYABLE-FOR-SECURITIES> 176,327,004
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 204,201,570
<TOTAL-LIABILITIES> 380,528,574
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 775,957,112
<SHARES-COMMON-STOCK> 77,153,584
<SHARES-COMMON-PRIOR> 97,390,018
<ACCUMULATED-NII-CURRENT> 4,118
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (138,580,517)
<ACCUM-APPREC-OR-DEPREC> 16,224,094
<NET-ASSETS> 653,604,807
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 51,650,701
<OTHER-INCOME> 0
<EXPENSES-NET> (11,558,021)
<NET-INVESTMENT-INCOME> 40,092,680
<REALIZED-GAINS-CURRENT> 2,612,844
<APPREC-INCREASE-CURRENT> 13,181,818
<NET-CHANGE-FROM-OPS> 55,887,342
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (38,267,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,864,775
<NUMBER-OF-SHARES-REDEEMED> (29,669,680)
<SHARES-REINVESTED> 3,568,471
<NET-CHANGE-IN-ASSETS> (144,991,296)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (141,994,419)
<GROSS-ADVISORY-FEES> 2,474,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11,558,000
<AVERAGE-NET-ASSETS> 705,752,000
<PER-SHARE-NAV-BEGIN> 8.040
<PER-SHARE-NII> 0.450
<PER-SHARE-GAIN-APPREC> 0.200
<PER-SHARE-DIVIDEND> (0.450)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.240
<EXPENSE-RATIO> 1.0900
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY MONEY MARKET FUND
<NUMBER> 061
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 418,428,255
<INVESTMENTS-AT-VALUE> 418,428,255
<RECEIVABLES> 1,588,656
<ASSETS-OTHER> 56,838
<OTHER-ITEMS-ASSETS> O
<TOTAL-ASSETS> 420,073,749
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,526,764
<TOTAL-LIABILITIES> 2,526,764
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 417,562,867
<SHARES-COMMON-STOCK> 80,925,440
<SHARES-COMMON-PRIOR> 53,890,270
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,882)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 417,546,985
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,070,139
<OTHER-INCOME> 0
<EXPENSES-NET> (2,846,682)
<NET-INVESTMENT-INCOME> 20,223,457
<REALIZED-GAINS-CURRENT> (1,381)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20,222,076
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,484,902)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 296,699,694
<NUMBER-OF-SHARES-REDEEMED> (272,754,087)
<SHARES-REINVESTED> 3,089,563
<NET-CHANGE-IN-ASSETS> 43,772,344
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (14,501)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,176,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,846,000
<AVERAGE-NET-ASSETS> 406,669,000
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.050)
<PER-SHARE-DISTRIBUTIONS> 0.000
<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>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY MONEY MARKET FUND
<NUMBER> 062
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 418,428,255
<INVESTMENTS-AT-VALUE> 418,428,255
<RECEIVABLES> 1,588,656
<ASSETS-OTHER> 56,838
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 420,073,749
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,526,764
<TOTAL-LIABILITIES> 2,526,764
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 417,562,867
<SHARES-COMMON-STOCK> 336,637,427
<SHARES-COMMON-PRIOR> 317,497,716
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,882)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 417,546,985
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23,070,139
<OTHER-INCOME> 0
<EXPENSES-NET> (2,846,682)
<NET-INVESTMENT-INCOME> 20,223,457
<REALIZED-GAINS-CURRENT> (1,381)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20,222,076
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,738,555)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 560,499,416
<NUMBER-OF-SHARES-REDEEMED> (556,956,479)
<SHARES-REINVESTED> 15,596,777
<NET-CHANGE-IN-ASSETS> 22,623,235
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (14,501)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,176,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,846,000
<AVERAGE-NET-ASSETS> 406,669,000
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.050)
<PER-SHARE-DISTRIBUTIONS> 0.000
<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>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY TAX FREE BOND FUND
<NUMBER> 071
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 483,542,937
<INVESTMENTS-AT-VALUE> 499,369,397
<RECEIVABLES> 9,538,921
<ASSETS-OTHER> 1,189,279
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 510,097,597
<PAYABLE-FOR-SECURITIES> 14,091,741
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 879,204
<TOTAL-LIABILITIES> 14,970,945
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 488,944,923
<SHARES-COMMON-STOCK> 1,277,972
<SHARES-COMMON-PRIOR> 1,676,249
<ACCUMULATED-NII-CURRENT> 8,400
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,653,131)
<ACCUM-APPREC-OR-DEPREC> 15,826,460
<NET-ASSETS> 495,126,652
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,450,403
<OTHER-INCOME> 0
<EXPENSES-NET> (6,023,862)
<NET-INVESTMENT-INCOME> 24,426,541
<REALIZED-GAINS-CURRENT> 6,139,324
<APPREC-INCREASE-CURRENT> 11,084,242
<NET-CHANGE-FROM-OPS> 41,650,107
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (659,120)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 337,729
<NUMBER-OF-SHARES-REDEEMED> (786,723)
<SHARES-REINVESTED> 50,717
<NET-CHANGE-IN-ASSETS> 37,048,979
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (15,792,455)
<OVERDISTRIB-NII-PRIOR> (245)
<OVERDIST-NET-GAINS-PRIOR> 4,742,218
<GROSS-ADVISORY-FEES> 1,751,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,024,000
<AVERAGE-NET-ASSETS> 494,810,000
<PER-SHARE-NAV-BEGIN> 9.840
<PER-SHARE-NII> 0.510
<PER-SHARE-GAIN-APPREC> 0.350
<PER-SHARE-DIVIDEND> (0.510)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.190
<EXPENSE-RATIO> 1.0100
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY TAX FREE BOND FUND
<NUMBER> 072
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 483,542,937
<INVESTMENTS-AT-VALUE> 499,369,397
<RECEIVABLES> 9,538,921
<ASSETS-OTHER> 1,189,279
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 510,097,597
<PAYABLE-FOR-SECURITIES> 14,091,741
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 879,204
<TOTAL-LIABILITIES> 14,970,945
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 488,944,923
<SHARES-COMMON-STOCK> 47,302,846
<SHARES-COMMON-PRIOR> 50,420,942
<ACCUMULATED-NII-CURRENT> 8,400
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,653,131)
<ACCUM-APPREC-OR-DEPREC> 15,826,460
<NET-ASSETS> 495,126,652
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,450,403
<OTHER-INCOME> 0
<EXPENSES-NET> (6,023,862)
<NET-INVESTMENT-INCOME> 24,426,541
<REALIZED-GAINS-CURRENT> 6,139,324
<APPREC-INCREASE-CURRENT> 11,084,242
<NET-CHANGE-FROM-OPS> 41,650,107
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23,759,021)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,189,910
<NUMBER-OF-SHARES-REDEEMED> (7,806,897)
<SHARES-REINVESTED> 1,498,891
<NET-CHANGE-IN-ASSETS> (12,989,122)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (15,792,455)
<OVERDISTRIB-NII-PRIOR> (245)
<OVERDIST-NET-GAINS-PRIOR> 4,742,218
<GROSS-ADVISORY-FEES> 1,751,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,024,000
<AVERAGE-NET-ASSETS> 494,810,000
<PER-SHARE-NAV-BEGIN> 9.840
<PER-SHARE-NII> 0.490
<PER-SHARE-GAIN-APPREC> 0.350
<PER-SHARE-DIVIDEND> (0.490)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.190
<EXPENSE-RATIO> 1.2200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY TOTAL RETURN FUND
<NUMBER> 091
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 999,999,479
<INVESTMENTS-AT-VALUE> 1,349,063,563
<RECEIVABLES> 47,634,944
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 96,538,694
<TOTAL-ASSETS> 1,493,237,201
<PAYABLE-FOR-SECURITIES> 85,224,019
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 101,478,494
<TOTAL-LIABILITIES> 186,702,513
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 945,988,681
<SHARES-COMMON-STOCK> 5,051,632
<SHARES-COMMON-PRIOR> 3,433,467
<ACCUMULATED-NII-CURRENT> 56,945
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11,424,978
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 349,064,084
<NET-ASSETS> 1,306,534,688
<DIVIDEND-INCOME> 3,751,490
<INTEREST-INCOME> 32,749,855
<OTHER-INCOME> 0
<EXPENSES-NET> (19,480,817)
<NET-INVESTMENT-INCOME> 17,020,528
<REALIZED-GAINS-CURRENT> 109,727,203
<APPREC-INCREASE-CURRENT> 69,750,696
<NET-CHANGE-FROM-OPS> 196,498,427
,<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,703,308)
<DISTRIBUTIONS-OF-GAINS> (8,289,909)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,912,927
<NUMBER-OF-SHARES-REDEEMED> (766,259)
<SHARES-REINVESTED> 471,497
<NET-CHANGE-IN-ASSETS> 220,410,735
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,965,829
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,457,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19,481,000
<AVERAGE-NET-ASSETS> 1,281,641,000
<PER-SHARE-NAV-BEGIN> 20.090
<PER-SHARE-NII> 0.400
<PER-SHARE-GAIN-APPREC> 3.190
<PER-SHARE-DIVIDEND> (0.400)
<PER-SHARE-DISTRIBUTIONS> (1.840)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.440
<EXPENSE-RATIO> 1.1500
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY TOTAL RETURN FUND
<NUMBER> 092
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 999,999,479
<INVESTMENTS-AT-VALUE> 1,349,063,563
<RECEIVABLES> 47,634,944
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 96,538,694
<TOTAL-ASSETS> 1,493,237,201
<PAYABLE-FOR-SECURITIES> 85,224,019
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 101,478,494
<TOTAL-LIABILITIES> 186,702,513
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 945,988,681
<SHARES-COMMON-STOCK> 55,863,355
<SHARES-COMMON-PRIOR> 51,247,218
<ACCUMULATED-NII-CURRENT> 56,945
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11,424,978
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 349,064,084
<NET-ASSETS> 1,306,534,688
<DIVIDEND-INCOME> 3,751,490
<INTEREST-INCOME> 32,749,855
<OTHER-INCOME> 0
<EXPENSES-NET> (19,480,817)
<NET-INVESTMENT-INCOME> 17,020,528
<REALIZED-GAINS-CURRENT> 109,727,203
<APPREC-INCREASE-CURRENT> 69,750,696
<NET-CHANGE-FROM-OPS> 196,498,427
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,973,462)
<DISTRIBUTIONS-OF-GAINS> (94,264,958)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,881,791
<NUMBER-OF-SHARES-REDEEMED> (7,371,779)
<SHARES-REINVESTED> 5,106,125
<NET-CHANGE-IN-ASSETS> 183,769,292
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,965,829
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,457,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19,481,000
<AVERAGE-NET-ASSETS> 1,281,641,000
<PER-SHARE-NAV-BEGIN> 20.100
<PER-SHARE-NII> 0.300
<PER-SHARE-GAIN-APPREC> 3.180
<PER-SHARE-DIVIDEND> (0.290)
<PER-SHARE-DISTRIBUTIONS> (1.840)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.450
<EXPENSE-RATIO> 1.1650
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000205802
<NAME> MAINSTAY EQUITY INDEX FUND
<SERIES>
<NUMBER> 111
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 304,864,285
<INVESTMENTS-AT-VALUE> 431,994,295
<RECEIVABLES> 5,487,390
<ASSETS-OTHER> 39,003
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 437,520,688
<PAYABLE-FOR-SECURITIES> 1,189,351
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 642,531
<TOTAL-LIABILITIES> 1,831,882
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 304,368,414
<SHARES-COMMON-STOCK> 14,094,106
<SHARES-COMMON-PRIOR> 9,659,232
<ACCUMULATED-NII-CURRENT> 15,071
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,132,366
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 127,172,955
<NET-ASSETS> 435,688,806
<DIVIDEND-INCOME> 5,368,077
<INTEREST-INCOME> 1,425,916
<OTHER-INCOME> 0
<EXPENSES-NET> (2,644,999)
<NET-INVESTMENT-INCOME> 4,148,994
<REALIZED-GAINS-CURRENT> 8,632,619
<APPREC-INCREASE-CURRENT> 73,820,854
<NET-CHANGE-FROM-OPS> 86,602,467
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,133,923)
<DISTRIBUTIONS-OF-GAINS> (5,707,208)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,513,930
<NUMBER-OF-SHARES-REDEEMED> (2,068,914)
<SHARES-REINVESTED> 324,049
<NET-CHANGE-IN-ASSETS> 209,939,195
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,206,955
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 629,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,287,000
<AVERAGE-NET-ASSETS> 330,625,000
<PER-SHARE-NAV-BEGIN> 23.370
<PER-SHARE-NII> 0.300
<PER-SHARE-GAIN-APPREC> 7.240
<PER-SHARE-DIVIDEND> (0.300)
<PER-SHARE-DISTRIBUTIONS> (0.410)
<RETURNS-OF-CAPITAL> 0.710
<PER-SHARE-NAV-END> 30.910
<EXPENSE-RATIO> 0.8000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 00000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY CALIFORNIA TAX FREE BOND FUND
<NUMBER> 121
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 26,005,328
<INVESTMENTS-AT-VALUE> 26,412,029
<RECEIVABLES> 549,929
<ASSETS-OTHER> 139,855
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,101,813
<PAYABLE-FOR-SECURITIES> 1,556,882
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58,241
<TOTAL-LIABILITIES> 1,615,123
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,135,546
<SHARES-COMMON-STOCK> 1,832,746
<SHARES-COMMON-PRIOR> 1,849,908
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (784)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (54,773)
<ACCUM-APPREC-OR-DEPREC> 406,701
<NET-ASSETS> 25,486,690
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,434,535
<OTHER-INCOME> 0
<EXPENSES-NET> (305,611)
<NET-INVESTMENT-INCOME> 1,128,924
<REALIZED-GAINS-CURRENT> 407,293
<APPREC-INCREASE-CURRENT> 237,577
<NET-CHANGE-FROM-OPS> 1,773,794
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (847,841)
<DISTRIBUTIONS-OF-GAINS> (216,082)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 261,732
<NUMBER-OF-SHARES-REDEEMED> (344,738)
<SHARES-REINVESTED> 65,844
<NET-CHANGE-IN-ASSETS> 569,754
<ACCUMULATED-NII-PRIOR> 3,129
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (160,355)
<GROSS-ADVISORY-FEES> 70,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 311,000
<AVERAGE-NET-ASSETS> 23,419,000
<PER-SHARE-NAV-BEGIN> 9.780
<PER-SHARE-NII> 0.480
<PER-SHARE-GAIN-APPREC> 0.270
<PER-SHARE-DIVIDEND> (0.480)
<PER-SHARE-DISTRIBUTIONS> (0.120)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.930
<EXPENSE-RATIO> 1.2400
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY CALIFORNIA TAX FREE BOND FUND
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<NAME> CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 00000787441
<NAME> THE MAINSTAY FUNDS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY NEW YORK TAX FREE BOND FUND
<NUMBER> 132
<NAME> CLASS B
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<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY INTERNATIONAL BOND FUND
<NUMBER> 141
<NAME> CLASS A
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY INTERNATIONAL BOND FUND
<NUMBER> 142
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY INTERNATIONAL EQUITY FUND
<NUMBER> 151
<NAME> CLASS A
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY INTERNATIONAL EQUITY FUND
<NUMBER> 152
<NAME> CLASS B
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY STRATEGIC INCOME FUND
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<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY STRATEGIC INCOME FUND
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<NAME> CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY STRATEGIC VALUE FUND
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<NAME> CLASS A
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<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000787441
<NAME> THE MAINSTAY FUNDS
<SERIES> MAINSTAY STRATEGIC VALUE FUND
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<S> <C>
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</TABLE>
