PRICE T ROWE NEW INCOME FUND INC
NSAR-B, 1997-07-30
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<PAGE>      PAGE  1
000 B000000 05/31/97
000 C000000 080249
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE NEW INCOME FUND, INC.
001 B000000 811-2396
001 C000000 4103452000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
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002 D010000 21202
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018  000000 Y
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020 A000001 MORGAN STANLEY & CO., INC.
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020 A000002 MORGAN (J.P.) SECURITIES, INC.
020 B000002 13-3224016
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020 A000003 GOLDMAN, SACHS & CO.
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022 A000002 MORGAN (J.P.) SECURITIES, INC.
022 B000002 13-3224016
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022 A000003 GENERAL MOTORS ACCEPTANCE CORP.
022 B000003 38-0572512
022 C000003   1053316
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022 A000004 LEHMAN BROTHERS, INC.
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022 A000006 UBS SECURITIES, INC.
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022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH,INC.
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SIGNATURE   HENRY H. HOPKINS                             
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000080249
<NAME> T ROWE PRICE NEW INCOME FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               MAY-31-1997
<INVESTMENTS-AT-COST>                          1691925
<INVESTMENTS-AT-VALUE>                         1699253
<RECEIVABLES>                                    52198
<ASSETS-OTHER>                                      27
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 1751478
<PAYABLE-FOR-SECURITIES>                         30246
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        10502
<TOTAL-LIABILITIES>                              40748
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       1707467
<SHARES-COMMON-STOCK>                           195078
<SHARES-COMMON-PRIOR>                           187765
<ACCUMULATED-NII-CURRENT>                         2701
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                          6766
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<NET-ASSETS>                                   1710730
<DIVIDEND-INCOME>                                  434
<INTEREST-INCOME>                               123016
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   12401
<NET-INVESTMENT-INCOME>                         111049
<REALIZED-GAINS-CURRENT>                          4730
<APPREC-INCREASE-CURRENT>                         6965
<NET-CHANGE-FROM-OPS>                           122744
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       111027
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<EXPENSE-RATIO>                                    .74
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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