BASCOM HILL BALANCED FUND INC
NSAR-B, 1997-02-26
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<PAGE>      PAGE  1
000 B000000 12/31/96
000 C000000 0000799899
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001 A000000 BASCOM HILL BALANCED FUND, INC.
001 B000000 811-4825
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002 A000000 6411 MINERAL POINT ROAD
002 B000000 MADISON
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008 A000001 MADISON INVESTMENT ADVISORS, INC.
008 B000001 A
008 C000001 801-9840
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008 D020001 WI
008 D030001 53705
012 A000001 FIRSTAR TRUST COMPANY
012 B000001 85-00410
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013 A000001 WILLIAMS, YOUNG & ASSOCIATES LLC
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<PAGE>      PAGE  2
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SIGNATURE   ELIZABETH HENDRICKS                          
TITLE       ASST. SECRETARY     
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
registrant's current forms NSAR, N1A and financial statements and is qualified in
its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000799899
<NAME> BASCOM HILL BALANCED FUND, INC.
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-12-1996
<PERIOD-END>                               DEC-12-1996
<INVESTMENTS-AT-COST>                       10,010,000
<INVESTMENTS-AT-VALUE>                      10,987,000
<RECEIVABLES>                                   61,000
<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                              11,048,000
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<OTHER-ITEMS-LIABILITIES>                       31,000
<TOTAL-LIABILITIES>                             31,000
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                          500,000
<SHARES-COMMON-PRIOR>                          484,000
<ACCUMULATED-NII-CURRENT>                        3,000
<OVERDISTRIBUTION-NII>                               0
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<NET-ASSETS>                                11,018,000
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<APPREC-INCREASE-CURRENT>                    (147,000)
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<DISTRIBUTIONS-OF-GAINS>                     1,699,000
<DISTRIBUTIONS-OTHER>                                0
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</TABLE>


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