PRICE T ROWE SPECTRUM FUND INC
NSAR-A, 1996-08-29
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<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 808303
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE SPECTRUM FUND, INC.
001 B000000 811-4998
001 C000000 4105472000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 SPECTRUM INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 SPECTRUM GROWTH FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   73
019 C00AA00 TROWEPRICE
026 A000000 N
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026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
029  00AA00 N
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<PAGE>      PAGE  2
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077 A000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
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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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SIGNATURE   HENRY H. HOPKINS                             
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808303
<NAME> T. ROWE PRICE SPECTRUM FUND, INC.
<SERIES>
   <NUMBER> 01
   <NAME> SPECTRUM INCOME FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                          1180310
<INVESTMENTS-AT-VALUE>                         1201745
<RECEIVABLES>                                     7357
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 1209102
<PAYABLE-FOR-SECURITIES>                          5493
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         8474
<TOTAL-LIABILITIES>                              13967
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       1171844
<SHARES-COMMON-STOCK>                           108718
<SHARES-COMMON-PRIOR>                            87615
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1856
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<NET-ASSETS>                                   1195135
<DIVIDEND-INCOME>                                 3019
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                          36773
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<APPREC-INCREASE-CURRENT>                      (26792)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        36773
<DISTRIBUTIONS-OF-GAINS>                           993
<DISTRIBUTIONS-OTHER>                                0
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<PER-SHARE-GAIN-APPREC>                          (.24)
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<EXPENSE-RATIO>                                      0
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808303
<NAME> T. ROWE PRICE SPECTRUM FUND, INC.
<SERIES>
   <NUMBER> 02
   <NAME> SPECTRUM GROWTH FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                          1469832
<INVESTMENTS-AT-VALUE>                         1806604
<RECEIVABLES>                                     2879
<ASSETS-OTHER>                                       0
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<TOTAL-ASSETS>                                 1809483
<PAYABLE-FOR-SECURITIES>                          2132
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         3586
<TOTAL-LIABILITIES>                               5718
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       1453567
<SHARES-COMMON-STOCK>                           121790
<SHARES-COMMON-PRIOR>                           100687
<ACCUMULATED-NII-CURRENT>                         6383
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           7043
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        336772
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<DIVIDEND-INCOME>                                 5903
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<EXPENSES-NET>                                       0
<NET-INVESTMENT-INCOME>                           5951
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<NET-CHANGE-FROM-OPS>                           144173
<EQUALIZATION>                                       0
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</TABLE>


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