DREYFUS DEBT & EQUITY FUNDS
NSAR-B, 1998-12-29
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<PAGE>      PAGE  1
000 B000000 10/31/98
000 C000000 0000797073
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 DREYFUS DEBT AND EQUITY FUNDS
001 B000000 811-4748
001 C000000 2129226774
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 DREYFUS STRATEGIC INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 DREYFUS HIGH YIELD SECURITIES FUND
007 C030200 N
007 C010300  3
007 C020300 DREYFUS EQUITY DIVIDEND FUND
007 C030300 N
007 C010400  4
007 C020400 DREYFUS SHORT TERM HIGH YIELD FUND
007 C030400 N
007 C010500  5
007 C020500 DREYFUS REAL ESTATE MORTGAGE FUND
007 C030500 N
007 C010600  6
007 C020600 DREYFUS PREMIER HIGH YIELD DEBT PLUS EQ. FUND
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
020 A000001 AUTRANET, INC.
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020 A000002 DUNLEVY & CO., INC.
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020 A000003 CHARLES SCHWAB & CO., INC.
<PAGE>      PAGE  2
020 B000003 94-1737782
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
052  000300 N
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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019 C000500 DREYFUSFAM
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025 A000501 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
025 B000501 13-5674085
025 C000501 D
025 D000501     744
025 A000502 CHASE SECURITIES, INC.
025 B000502 13-3112953
<PAGE>      PAGE  19
025 C000502 D
025 D000502     511
025 D000503       0
025 D000504       0
025 D000505       0
025 D000506       0
025 D000507       0
025 D000508       0
028 A010500       330
028 A020500         0
028 A030500         0
028 A040500        15
028 B010500       250
028 B020500         0
028 B030500         0
028 B040500         5
028 C010500       349
028 C020500       266
028 C030500         0
028 C040500        22
028 D010500       216
028 D020500         0
028 D030500         0
028 D040500        96
028 E010500        44
028 E020500       305
028 E030500         0
028 E040500       560
028 F010500        95
028 F020500         0
028 F030500         0
028 F040500       170
028 G010500      1284
028 G020500       571
028 G030500         0
028 G040500       868
028 H000500         0
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 Y
055 B000500 Y
056  000500 N
057  000500 N
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
<PAGE>      PAGE  20
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   2.3
062 N000500  25.3
062 O000500   0.0
062 P000500  90.5
062 Q000500   0.0
062 R000500  24.6
063 A000500   0
063 B000500 13.7
066 A000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 Y
070 P010500 Y
070 P020500 Y
070 Q010500 N
<PAGE>      PAGE  21
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500    137964
071 B000500    130163
071 C000500     17299
071 D000500  752
072 A000500 12
072 B000500     1361
072 C000500        0
072 D000500        0
072 E000500        0
072 F000500       83
072 G000500        0
072 H000500        0
072 I000500       34
072 J000500        3
072 K000500        0
072 L000500       11
072 M000500        0
072 N000500       46
072 O000500        1
072 P000500      211
072 Q000500        0
072 R000500       13
072 S000500        0
072 T000500        0
072 U000500        0
072 V000500        0
072 W000500       13
072 X000500      415
072 Y000500       90
072 Z000500     1036
072AA000500     1261
072BB000500     1056
072CC010500        0
072CC020500      929
072DD010500      939
072DD020500        0
072EE000500      124
073 A010500   0.9580
073 A020500   0.0000
073 B000500   0.1500
073 C000500   0.0000
074 A000500        0
074 B000500        0
074 C000500        0
074 D000500    15239
074 E000500        0
074 F000500     2916
074 G000500        0
<PAGE>      PAGE  22
074 H000500        0
074 I000500        0
074 J000500      332
074 K000500        0
074 L000500      198
074 M000500       57
074 N000500    18742
074 O000500     2082
074 P000500        0
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500     3753
074 S000500        0
074 T000500    12907
074 U010500     1068
074 U020500        0
074 V010500    12.09
074 V020500     0.00
074 W000500   0.0000
074 X000500      157
074 Y000500      924
075 A000500        0
075 B000500    12739
076  000500     0.00
080 A000500 VIGILANT INSURANCE COMPANY
080 B000500 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000500   125000
081 A000500 Y
081 B000500 184
082 A000500 N
082 B000500        0
083 A000500 N
083 B000500        0
084 A000500 N
084 B000500        0
085 A000500 Y
085 B000500 N
015 A000601 MELLON BANK, N.A.
015 B000601 C
015 C010601 PITTSBURGH
015 C020601 PA
015 C030601 15258
015 E030601 X
018  000600 Y
019 A000600 Y
019 B000600  163
019 C000600 DREYFUSFAM
024  000600 N
028 A010600         0
<PAGE>      PAGE  23
028 A020600         0
028 A030600         0
028 A040600         0
028 B010600     10001
028 B020600         0
028 B030600         0
028 B040600         0
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028 C030600         0
028 C040600         0
028 D010600        13
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028 D030600         0
028 D040600         0
028 E010600         0
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028 E030600         0
028 E040600        65
028 F010600        95
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028 F030600         0
028 F040600         0
028 G010600     10293
028 G020600       141
028 G030600         0
028 G040600        65
028 H000600         0
029  000600 Y
030 A000600      0
030 B000600  5.75
030 C000600  0.00
031 A000600      0
031 B000600      0
032  000600      0
033  000600      0
034  000600 Y
035  000600      1
036 A000600 N
036 B000600      0
037  000600 N
038  000600      0
039  000600 N
040  000600 Y
049  000600 Y
050  000600 N
051  000600 N
052  000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
<PAGE>      PAGE  24
055 A000600 Y
055 B000600 N
056  000600 N
057  000600 N
058 A000600 N
059  000600 Y
060 A000600 N
060 B000600 N
061  000600     1000
062 A000600 Y
062 B000600   0.0
062 C000600  14.0
062 D000600   0.0
062 E000600   0.0
062 F000600   0.0
062 G000600   0.0
062 H000600   0.0
062 I000600   0.0
062 J000600   0.0
062 K000600   0.0
062 L000600   0.0
062 M000600   0.0
062 N000600   0.0
062 O000600   0.0
062 P000600  47.6
062 Q000600   0.0
062 R000600  33.9
063 A000600   0
063 B000600  4.7
066 A000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 N
<PAGE>      PAGE  25
070 K020600 N
070 L010600 Y
070 L020600 Y
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600     10896
071 B000600      2091
071 C000600      4915
071 D000600   43
072 A000600  4
072 B000600      235
072 C000600       17
072 D000600        0
072 E000600        0
072 F000600       23
072 G000600        0
072 H000600        0
072 I000600        8
072 J000600        3
072 K000600        0
072 L000600        7
072 M000600        0
072 N000600       14
072 O000600        0
072 P000600        0
072 Q000600        0
072 R000600       15
072 S000600       30
072 T000600       13
072 U000600        0
072 V000600        0
072 W000600        1
072 X000600      114
072 Y000600       70
072 Z000600      208
072AA000600      161
072BB000600      214
072CC010600        0
072CC020600     1837
072DD010600       60
072DD020600       81
<PAGE>      PAGE  26
072EE000600        0
073 A010600   0.1850
073 A020600   0.0000
073 B000600   0.0000
073 C000600   0.0000
074 A000600       23
074 B000600        0
074 C000600     1192
074 D000600     4071
074 E000600     1285
074 F000600     1490
074 G000600        0
074 H000600        0
074 I000600      120
074 J000600      368
074 K000600       50
074 L000600      248
074 M000600       62
074 N000600     8909
074 O000600      320
074 P000600        0
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600       43
074 S000600        0
074 T000600     8546
074 U010600      328
074 U020600      505
074 V010600     0.00
074 V020600     0.00
074 W000600   0.0000
074 X000600       12
074 Y000600        0
075 A000600        0
075 B000600     3604
076  000600     0.00
080 A000600 VIGILANT INSURANCE COMPANY
080 B000600 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000600   125000
081 A000600 Y
081 B000600 184
082 A000600 N
082 B000600        0
083 A000600 N
083 B000600        0
084 A000600 N
084 B000600        0
085 A000600 Y
085 B000600 N
<PAGE>      PAGE  27
SIGNATURE   STEPHANIE PIERCE
TITLE       ASSISTANT TREASURER


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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 01
   <NAME> DREYFUS STRATEGIC INCOME FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
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<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  297359
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<OTHER-ITEMS-LIABILITIES>                         4831
<TOTAL-LIABILITIES>                              14023
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        288817
<SHARES-COMMON-STOCK>                            19676
<SHARES-COMMON-PRIOR>                            18536
<ACCUMULATED-NII-CURRENT>                          382
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (742)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        (5121)
<NET-ASSETS>                                    283336
<DIVIDEND-INCOME>                                 2342
<INTEREST-INCOME>                                20131
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    3015
<NET-INVESTMENT-INCOME>                          19458
<REALIZED-GAINS-CURRENT>                          4228
<APPREC-INCREASE-CURRENT>                      (13705)
<NET-CHANGE-FROM-OPS>                             9981
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (19636)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           4586
<NUMBER-OF-SHARES-REDEEMED>                     (4404)
<SHARES-REINVESTED>                                959
<NET-CHANGE-IN-ASSETS>                            7818
<ACCUMULATED-NII-PRIOR>                            560
<ACCUMULATED-GAINS-PRIOR>                       (4970)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             1727
<INTEREST-EXPENSE>                                  91
<GROSS-EXPENSE>                                   3015
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<PER-SHARE-NAV-BEGIN>                            14.86
<PER-SHARE-NII>                                   1.01
<PER-SHARE-GAIN-APPREC>                          (.45)
<PER-SHARE-DIVIDEND>                            (1.02)
<PER-SHARE-DISTRIBUTIONS>                          .00
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              14.40
<EXPENSE-RATIO>                                   .010
<AVG-DEBT-OUTSTANDING>                            1717
<AVG-DEBT-PER-SHARE>                               .09
        


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 02
   <NAME> DREYFUS HIGH YIELD SECURITIES FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
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<INVESTMENTS-AT-VALUE>                          134270
<RECEIVABLES>                                     4537
<ASSETS-OTHER>                                     555
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  139362
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         9138
<TOTAL-LIABILITIES>                               9138
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        177438
<SHARES-COMMON-STOCK>                            11769
<SHARES-COMMON-PRIOR>                             8186
<ACCUMULATED-NII-CURRENT>                         2253
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (7301)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (42166)
<NET-ASSETS>                                    130224
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    2205
<NET-INVESTMENT-INCOME>                          19868
<REALIZED-GAINS-CURRENT>                        (7283)
<APPREC-INCREASE-CURRENT>                      (46390)
<NET-CHANGE-FROM-OPS>                          (33805)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (18931)
<DISTRIBUTIONS-OF-GAINS>                         (141)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          12746
<NUMBER-OF-SHARES-REDEEMED>                    (10120)
<SHARES-REINVESTED>                                957
<NET-CHANGE-IN-ASSETS>                            9406
<ACCUMULATED-NII-PRIOR>                           1316
<ACCUMULATED-GAINS-PRIOR>                          123
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<PER-SHARE-NAV-BEGIN>                            14.76
<PER-SHARE-NII>                                   1.55
<PER-SHARE-GAIN-APPREC>                         (3.66)
<PER-SHARE-DIVIDEND>                            (1.57)
<PER-SHARE-DISTRIBUTIONS>                        (.02)
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              11.06
<EXPENSE-RATIO>                                   .012
<AVG-DEBT-OUTSTANDING>                            4669
<AVG-DEBT-PER-SHARE>                               .38
        


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 03
   <NAME> DREYFUS EQUITY DIVIDEND FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                             3934
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<SENIOR-EQUITY>                                      0
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<OVERDISTRIBUTION-GAINS>                             0
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<APPREC-INCREASE-CURRENT>                        (159)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (84)
<DISTRIBUTIONS-OF-GAINS>                         (330)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             38
<NUMBER-OF-SHARES-REDEEMED>                       (47)
<SHARES-REINVESTED>                                 24
<NET-CHANGE-IN-ASSETS>                             152
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                          328
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               35
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     98
<AVERAGE-NET-ASSETS>                              4692
<PER-SHARE-NAV-BEGIN>                            17.28
<PER-SHARE-NII>                                    .32
<PER-SHARE-GAIN-APPREC>                            .87
<PER-SHARE-DIVIDEND>                             (.31)
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<PER-SHARE-NAV-END>                              16.87
<EXPENSE-RATIO>                                   .013
<AVG-DEBT-OUTSTANDING>                            .000
<AVG-DEBT-PER-SHARE>                              .000
        


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 04
   <NAME> DREYFUS SHORT TERM HIGH YIELD FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
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<PAYABLE FOR-SECURITIES>                          1672
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        200855
<SHARES-COMMON-STOCK>                            15441
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<ACCUMULATED-NII-CURRENT>                          166
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (1966)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (22577)
<NET-ASSETS>                                    176478
<DIVIDEND-INCOME>                                  409
<INTEREST-INCOME>                                20942
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    2344
<NET-INVESTMENT-INCOME>                          19007
<REALIZED-GAINS-CURRENT>                        (1959)
<APPREC-INCREASE-CURRENT>                      (22834)
<NET-CHANGE-FROM-OPS>                           (5786)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (18947)
<DISTRIBUTIONS-OF-GAINS>                        (1406)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          19466
<NUMBER-OF-SHARES-REDEEMED>                    (16473)
<SHARES-REINVESTED>                               1141
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<ACCUMULATED-NII-PRIOR>                            106
<ACCUMULATED-GAINS-PRIOR>                         1399
<OVERDISTRIB-NII-PRIOR>                              0
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<PER-SHARE-NAV-BEGIN>                            12.98
<PER-SHARE-NII>                                   1.22
<PER-SHARE-GAIN-APPREC>                         (1.44)
<PER-SHARE-DIVIDEND>                            (1.21)
<PER-SHARE-DISTRIBUTIONS>                        (.12)
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              11.43
<EXPENSE-RATIO>                                   .012
<AVG-DEBT-OUTSTANDING>                            4168
<AVG-DEBT-PER-SHARE>                               .27
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 5
   <NAME>   DREYFUS REAL ESTATE MORTGAGE FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                            19102
<INVESTMENTS-AT-VALUE>                           18155
<RECEIVABLES>                                      530
<ASSETS-OTHER>                                      57
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   18742
<PAYABLE-FOR-SECURITIES>                          2082
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                               5835
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         13504
<SHARES-COMMON-STOCK>                             1068
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<NUMBER-OF-SHARES-SOLD>                            272
<NUMBER-OF-SHARES-REDEEMED>                      (103)
<SHARES-REINVESTED>                                 80
<NET-CHANGE-IN-ASSETS>                            2511
<ACCUMULATED-NII-PRIOR>                             48
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<PER-SHARE-NAV-BEGIN>                            12.69
<PER-SHARE-NII>                                   1.03
<PER-SHARE-GAIN-APPREC>                          (.52)
<PER-SHARE-DIVIDEND>                             (.96)
<PER-SHARE-DISTRIBUTIONS>                        (.15)
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              12.09
<EXPENSE-RATIO>                                   .026
<AVG-DEBT-OUTSTANDING>                            3511
<AVG-DEBT-PER-SHARE>                              3.32
        


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 06
   <NAME> DREYFUS PREIMIER HIGH YIELD DEBT PLUS EQUITY FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
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<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 07
   <NAME> DREYFUS PREIMIER HIGH YIELD DEBT PLUS EQUITY FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
<FISCAL-YEAR-END>                          OCT-31-1998
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 08
   <NAME> DREYFUS PREIMIER HIGH YIELD DEBT PLUS EQUITY FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
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<EXPENSE-RATIO>                                   .018
<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> 0000797073
<NAME>    DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
   <NUMBER> 09
   <NAME> DREYFUS PREIMIER HIGH YIELD DEBT PLUS EQUITY FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR ENDED
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<EXPENSE-RATIO>                                   .013
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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