COMPOSITE DEFERRED SERIES INC
NSAR-A, 1996-08-26
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<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 0000808421
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 COMPOSITE DEFERRED SERIES, INC.
001 B000000 811-4962
001 C000000 5093533492
002 A000000 601 W. MAIN, SUITE 801
002 B000000 SPOKANE
002 C000000 WA
002 D010000 99201
002 D020000 0613
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 GROWTH & INCOME PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 INCOME PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 NORTHWEST PORTFOLIO
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 COMPOSITE RESEARCH & MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-4855
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98104
011 A00AA01 MURPHEY FAVRE, INC.
011 B00AA01 8-3641
011 C01AA01 SPOKANE
011 C02AA01 WA
<PAGE>      PAGE  2
011 C03AA01 99201
011 C04AA01 0613
012 A00AA01 MURPHEY FAVRE SECURITIES SERVICES, INC.
012 B00AA01 84-
012 C01AA01 SPOKANE
012 C02AA01 WA
012 C03AA01 99201
012 C04AA01 0613
013 A00AA01 LEMASTER & DANIELS
013 B01AA01 SPOKANE
013 B02AA01 WA
013 B03AA01 99201
014 A00AA01 MURPHEY FAVRE, INC.
014 B00AA01 8-3641
015 A00AA01 INVESTORS FIDUCIARY TRUST, COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   12
019 C00AA00 COMPOSITES
020 A000001 AUTRONET/PERSHING
020 B000001 13-2961507
020 C000001     10
020 A000002 PRUDENTIAL SECURITIES
020 B000002 22-2347336
020 C000002      4
020 A000003 MERRILL LYNCH ET AL
020 B000003 13-5674085
020 C000003      2
020 A000004 OPPENHEIMER & CO.
020 B000004 13-2798343
020 C000004      1
020 A000005 JEFFERIES & COMPANY
020 B000005 95-2622900
020 C000005      1
020 A000006 MORGAN STANLLEY & CO.
020 B000006 13-2655998
020 C000006      1
020 A000007 LIPPER ANALYTICAL
020 B000007 13-2792478
020 C000007      1
020 A000008 PIPER JAFFREY
020 B000008 41-0953246
020 C000008      1
020 A000009 DONALDSON, LUFKIN, & JENRETTE
020 B000009 13-2741729
020 C000009      1
<PAGE>      PAGE  3
020 A000010 BROADCORT CAPITAL
020 B000010 13-3144415
020 C000010      0
021  000000       24
022 A000001 FIRST BOSTON
022 B000001 13-5659485
022 C000001    230132
022 D000001         0
022 A000002 GOLDMAN SACHS & COMPANY
022 B000002 13-5108880
022 C000002     74315
022 D000002        67
022 A000003 MERRILL LYNCH ET AL
022 B000003 13-5674085
022 C000003      1467
022 D000003       704
022 A000004 SMITH BARNEY SHEARSON
022 B000004 13-2869611
022 C000004       896
022 D000004        47
022 A000005 MORGAN STANLEY
022 B000005 13-2655998
022 C000005       585
022 D000005       226
022 A000006 JEFFERIES & COMPANY
022 B000006 95-2622900
022 C000006       187
022 D000006       560
022 A000007 PRUDENTIAL SECURITIES
022 B000007 22-2347336
022 C000007       532
022 D000007        90
022 A000008 RAGEN MACKENZIE, INC.
022 B000008 91-1374280
022 C000008       475
022 D000008        59
022 A000009 DONALDSON, LUFKIN, & JENRETTE
022 B000009 13-2741729
022 C000009       341
022 D000009       146
022 A000010 PACIFIC CREST SECURITIES
022 B000010 93-0625230
022 C000010       231
022 D000010       119
023 C000000     310435
023 D000000       2113
024  00AA00 Y
025 A00AA01 MORGAN STANLEY
025 B00AA01 13-2655998
025 C00AA01 D
025 D00AA01     245
<PAGE>      PAGE  4
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080 A00AA00 NATIONAL UNION FIRE INSURANCE CO OF PITTSBURG
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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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070 E020100 N
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070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
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070 L020100 N
070 M010100 N
070 M020100 N
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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
070 F020200 N
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070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
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070 J010200 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  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 N
054 A000400 Y
054 B000400 Y
054 C000400 Y
054 D000400 N
054 E000400 N
054 F000400 N
054 G000400 N
054 H000400 Y
054 I000400 N
054 J000400 Y
054 K000400 N
054 L000400 Y
054 M000400 Y
054 N000400 N
054 O000400 Y
055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
058 A000400 N
059  000400 Y
<PAGE>      PAGE  20
060 A000400 Y
060 B000400 Y
061  000400        0
062 A000400 N
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400   0.0
062 N000400   0.0
062 O000400   0.0
062 P000400   0.0
062 Q000400   0.0
062 R000400   0.0
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
<PAGE>      PAGE  21
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400      3100
071 B000400      1495
071 C000400      8259
071 D000400   18
072 A000400  6
072 B000400       13
072 C000400       43
072 D000400        0
072 E000400        0
072 F000400       22
072 G000400        0
072 H000400        0
072 I000400        0
072 J000400        4
072 K000400       -1
072 L000400        0
072 M000400        4
072 N000400       -1
072 O000400        0
072 P000400        0
072 Q000400        0
072 R000400        2
072 S000400        0
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        5
072 X000400       35
072 Y000400        0
072 Z000400       21
072AA000400      154
072BB000400        0
072CC010400      625
072CC020400        0
<PAGE>      PAGE  22
072DD010400       21
072DD020400        0
072EE000400        0
073 A010400   0.0360
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
074 A000400        0
074 B000400      658
074 C000400        0
074 D000400        0
074 E000400        0
074 F000400     9389
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400       38
074 K000400        0
074 L000400       19
074 M000400        0
074 N000400    10104
074 O000400      155
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400        8
074 S000400        0
074 T000400     9941
074 U010400      605
074 U020400        0
074 V010400    16.43
074 V020400     0.00
074 W000400   0.0000
074 X000400        1
074 Y000400        0
075 A000400        0
075 B000400     8805
076  000400     0.00
SIGNATURE   JOHN T WEST                                  
TITLE       SECRETARY           
 

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

<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>                                            
<CIK>                                            0000808421
<NAME>                                           Composite Deferred Series, Inc.
<SERIES>                                             
   <NUMBER>                                      01
   <NAME>                                        Money Market Portfolio
       
<S>                                                 <C>
<PERIOD-TYPE>                                       6-MOS
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        JUN-30-1996
<INVESTMENTS-AT-COST>                                                   218,803
<INVESTMENTS-AT-VALUE>                                                  218,803
<RECEIVABLES>                                                               171
<ASSETS-OTHER>                                                            5,286
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                          224,260
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                                 2,088
<TOTAL-LIABILITIES>                                                       2,088
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                                222,172
<SHARES-COMMON-STOCK>                                                   222,172
<SHARES-COMMON-PRIOR>                                                   221,217
<ACCUMULATED-NII-CURRENT>                                                     0
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                                       0
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                                      0
<NET-ASSETS>                                                            222,172
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                         5,549
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                           (4,594)
<NET-INVESTMENT-INCOME>                                                     955
<REALIZED-GAINS-CURRENT>                                                      0
<APPREC-INCREASE-CURRENT>                                                     0
<NET-CHANGE-FROM-OPS>                                                       955
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                                  (955)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                                       0
<NUMBER-OF-SHARES-REDEEMED>                                                   0
<SHARES-REINVESTED>                                                         955
<NET-CHANGE-IN-ASSETS>                                                      955
<ACCUMULATED-NII-PRIOR>                                                       0
<ACCUMULATED-GAINS-PRIOR>                                                     0
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                       550
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                           5,654
<AVERAGE-NET-ASSETS>                                                    221,185
<PER-SHARE-NAV-BEGIN>                                                      1.00
<PER-SHARE-NII>                                                            0.00
<PER-SHARE-GAIN-APPREC>                                                    0.00
<PER-SHARE-DIVIDEND>                                                       0.00
<PER-SHARE-DISTRIBUTIONS>                                                  0.00
<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                        1.00
<EXPENSE-RATIO>                                                            4.43
<AVG-DEBT-OUTSTANDING>                                                     0.00
<AVG-DEBT-PER-SHARE>                                                       0.00
        

</TABLE>

<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>                                            
<CIK>                                            0000808421
<NAME>                                           Composite Deferred Series, Inc.
<SERIES>                                             
   <NUMBER>                                      02
   <NAME>                                        Growth & Income Portfolio
       
<S>                                                 <C>
<PERIOD-TYPE>                                       6-MOS
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        JUN-30-1996
<INVESTMENTS-AT-COST>                                                25,847,636
<INVESTMENTS-AT-VALUE>                                               32,728,505
<RECEIVABLES>                                                           199,289
<ASSETS-OTHER>                                                           65,516
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                       32,993,310
<PAYABLE-FOR-SECURITIES>                                                120,635
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                                57,409
<TOTAL-LIABILITIES>                                                     178,044
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                             24,880,343
<SHARES-COMMON-STOCK>                                                 1,481,951
<SHARES-COMMON-PRIOR>                                                 1,208,890
<ACCUMULATED-NII-CURRENT>                                                   622
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                               1,056,422
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                              6,877,879
<NET-ASSETS>                                                         32,815,266
<DIVIDEND-INCOME>                                                       284,000
<INTEREST-INCOME>                                                        32,612
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                          (91,231)
<NET-INVESTMENT-INCOME>                                                 225,381
<REALIZED-GAINS-CURRENT>                                              1,063,265
<APPREC-INCREASE-CURRENT>                                             1,505,003
<NET-CHANGE-FROM-OPS>                                                 2,793,649
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                              (227,336)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                                 328,845
<NUMBER-OF-SHARES-REDEEMED>                                             (66,183)
<SHARES-REINVESTED>                                                      10,399
<NET-CHANGE-IN-ASSETS>                                                8,367,106
<ACCUMULATED-NII-PRIOR>                                                   2,577
<ACCUMULATED-GAINS-PRIOR>                                                (6,843)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                    72,340
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                          91,231
<AVERAGE-NET-ASSETS>                                                 29,105,495
<PER-SHARE-NAV-BEGIN>                                                     20.22
<PER-SHARE-NII>                                                            0.16
<PER-SHARE-GAIN-APPREC>                                                    1.92
<PER-SHARE-DIVIDEND>                                                      (0.16)
<PER-SHARE-DISTRIBUTIONS>                                                     0
<RETURNS-OF-CAPITAL>                                                          0
<PER-SHARE-NAV-END>                                                       22.14
<EXPENSE-RATIO>                                                            0.65
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>

<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>                                            
<CIK>                                            0000808421
<NAME>                                           Composite Deferred Series, Inc.
<SERIES>                                             
   <NUMBER>                                      03
   <NAME>                                        Income Portfolio
       
<S>                                                 <C>
<PERIOD-TYPE>                                       6-MOS
<FISCAL-YEAR-END>                                   DEC-31-1996
<PERIOD-START>                                      JAN-01-1996
<PERIOD-END>                                        JUN-30-1996
<INVESTMENTS-AT-COST>                                                16,025,548
<INVESTMENTS-AT-VALUE>                                               15,885,027
<RECEIVABLES>                                                           263,811
<ASSETS-OTHER>                                                              960
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                       16,149,798
<PAYABLE-FOR-SECURITIES>                                                 60,571
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                                10,181
<TOTAL-LIABILITIES>                                                      70,752
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                             16,358,396
<SHARES-COMMON-STOCK>                                                 1,352,251
<SHARES-COMMON-PRIOR>                                                 1,207,536
<ACCUMULATED-NII-CURRENT>                                                     0
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                                (138,829)
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                               (140,521)
<NET-ASSETS>                                                         16,079,046
<DIVIDEND-INCOME>                                                         1,938
<INTEREST-INCOME>                                                       552,142
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                          (54,776)
<NET-INVESTMENT-INCOME>                                                 499,304
<REALIZED-GAINS-CURRENT>                                                 (5,400)
<APPREC-INCREASE-CURRENT>                                              (886,335)
<NET-CHANGE-FROM-OPS>                                                  (392,431)
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                              (499,304)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                                 207,128
<NUMBER-OF-SHARES-REDEEMED>                                            (103,803)
<SHARES-REINVESTED>                                                      41,390
<NET-CHANGE-IN-ASSETS>                                                  873,448
<ACCUMULATED-NII-PRIOR>                                                       0
<ACCUMULATED-GAINS-PRIOR>                                              (133,428)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                    39,006
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                          54,776
<AVERAGE-NET-ASSETS>                                                 15,753,942
<PER-SHARE-NAV-BEGIN>                                                     12.59
<PER-SHARE-NII>                                                            0.39
<PER-SHARE-GAIN-APPREC>                                                   (0.70)
<PER-SHARE-DIVIDEND>                                                      (0.39)
<PER-SHARE-DISTRIBUTIONS>                                                     0
<RETURNS-OF-CAPITAL>                                                          0
<PER-SHARE-NAV-END>                                                       11.89
<EXPENSE-RATIO>                                                            0.71
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>

<TABLE> <S> <C>
                                               
<ARTICLE>                                           6
<LEGEND>                                             
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S SEMIANNUAL REPORT AND FORM N-SAR WHICH ARE ON FILE WITH THE 
SECURITIES AND EXCHANGE COMMISSION AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH DOCUMENTS.
</LEGEND>                                            
<CIK>                                            0000808421
<NAME>                                           Composite Deferred Series, Inc.
<SERIES>                                             
   <NUMBER>                                      04
   <NAME>                                        Northwest Portfolio
       
<S>                                                         <C>
<PERIOD-TYPE>                                                6-MOS
<FISCAL-YEAR-END>                                            DEC-31-1996
<PERIOD-START>                                               JAN-01-1996
<PERIOD-END>                                                 JUN-30-1996
<INVESTMENTS-AT-COST>                                                 8,028,843
<INVESTMENTS-AT-VALUE>                                               10,047,042
<RECEIVABLES>                                                            56,515
<ASSETS-OTHER>                                                              705
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                       10,104,262
<PAYABLE-FOR-SECURITIES>                                                155,488
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                                 7,760
<TOTAL-LIABILITIES>                                                     163,248
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                              7,905,339
<SHARES-COMMON-STOCK>                                                   605,021
<SHARES-COMMON-PRIOR>                                                   499,904
<ACCUMULATED-NII-CURRENT>                                                   319
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                                  17,157
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                              2,018,199
<NET-ASSETS>                                                          9,941,014
<DIVIDEND-INCOME>                                                        13,464
<INTEREST-INCOME>                                                        42,883
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                          (35,179)
<NET-INVESTMENT-INCOME>                                                  21,168
<REALIZED-GAINS-CURRENT>                                                153,907
<APPREC-INCREASE-CURRENT>                                               624,741
<NET-CHANGE-FROM-OPS>                                                   799,816
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                               (20,849)
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                                 122,596
<NUMBER-OF-SHARES-REDEEMED>                                             (18,768)
<SHARES-REINVESTED>                                                       1,289
<NET-CHANGE-IN-ASSETS>                                                2,445,701
<ACCUMULATED-NII-PRIOR>                                                       0
<ACCUMULATED-GAINS-PRIOR>                                              (136,750)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                    21,793
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                          35,179
<AVERAGE-NET-ASSETS>                                                 61,634,561
<PER-SHARE-NAV-BEGIN>                                                     14.99
<PER-SHARE-NII>                                                            0.04
<PER-SHARE-GAIN-APPREC>                                                    1.44
<PER-SHARE-DIVIDEND>                                                     (0.04)
<PER-SHARE-DISTRIBUTIONS>                                                     0
<RETURNS-OF-CAPITAL>                                                          0
<PER-SHARE-NAV-END>                                                       16.43
<EXPENSE-RATIO>                                                            0.83
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>


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