<PAGE> PAGE 1
000 B000000 07/31/96
000 C000000 0000081269
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM INVESTORS FUND
001 B000000 811-159
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02109
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 98
019 C000000 PUTNAMFUND
020 A000001 PAINE WEBBER INC.
020 B000001 13-2638166
020 C000001 296
020 A000002 SALOMON BROTHERS INC.
020 B000002 13-3082694
020 C000002 296
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000003 13-5674085
020 C000003 200
020 A000004 EDWARDS (A. G.) & SONS INC.
020 B000004 43-0895477
020 C000004 180
020 A000005 FIRST BOSTON CO.
020 B000005 13-5659485
020 C000005 141
020 A000006 STANDARD & POOR'S SECURITIES,INC.
020 B000006 22-229452
020 C000006 98
020 A000007 FINANCIAL NETWORK INVESTMENT CORPORATION
020 B000007 95-3845382
020 C000007 86
020 A000008 BRIDGE TRADING CO.
020 B000008 43-1034850
020 C000008 85
020 A000009 MORGAN STANLEY INC.
020 B000009 13-2655998
020 C000009 84
020 A000010 ROYAL ALLIANCE ASSOCIATES, INC.
020 B000010 93-0987232
020 C000010 77
021 000000 2443
022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001 2186756
022 D000001 22654
022 A000002 MORGAN STANLEY INC.
022 B000002 13-2655998
022 C000002 1697721
022 D000002 18264
022 A000003 MORGAN (J.P.) SECURITIES INC.
<PAGE> PAGE 3
022 B000003 13-3224016
022 C000003 1324384
022 D000003 0
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004 789917
022 D000004 46134
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005 170290
022 D000005 26817
022 A000006 HONG KONG AND SHANGHAI BANK
022 B000006 13-5146790
022 C000006 49919
022 D000006 5424
022 A000007 SALOMON BROTHERS INC.
022 B000007 13-3082694
022 C000007 13423
022 D000007 29971
022 A000008 SMITH BARNEY SHEARSON
022 C000008 17551
022 D000008 15548
022 A000009 PAINEWEBBER INC.
022 B000009 13-2638166
022 C000009 12865
022 D000009 10134
022 A000010 FIRST BOSTON CO.
022 B000010 13-5659485
022 C000010 14092
022 D000010 3468
023 C000000 6304296
023 D000000 196042
024 000000 N
025 A000001 DELETE
025 D000001 0
025 A000002 DELETE
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
<PAGE> PAGE 4
026 H000000 N
027 000000 Y
028 A010000 34935
028 A020000 0
028 A030000 0
028 A040000 27622
028 B010000 36575
028 B020000 0
028 B030000 0
028 B040000 53360
028 C010000 48285
028 C020000 0
028 C030000 0
028 C040000 35724
028 D010000 29892
028 D020000 0
028 D030000 0
028 D040000 17499
028 E010000 31099
028 E020000 0
028 E030000 0
028 E040000 19291
028 F010000 25053
028 F020000 0
028 F030000 0
028 F040000 18158
028 G010000 205839
028 G020000 0
028 G030000 0
028 G040000 171654
028 H000000 205839
029 000000 Y
030 A000000 1485
030 B000000 5.75
030 C000000 3.50
031 A000000 274
031 B000000 0
032 000000 1211
033 000000 0
034 000000 Y
035 000000 66
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
<PAGE> PAGE 5
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 3354
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.650
048 B010000 500000
048 B020000 0.550
048 C010000 500000
048 C020000 0.500
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
048 K020000 0.450
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
<PAGE> PAGE 6
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
<PAGE> PAGE 7
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 1428519
071 B000000 1382050
071 C000000 1077966
071 D000000 128
072 A000000 12
072 B000000 2602
072 C000000 16537
072 D000000 0
072 E000000 0
072 F000000 6631
072 G000000 24
072 H000000 0
072 I000000 1397
072 J000000 86
072 K000000 82
072 L000000 41
072 M000000 32
072 N000000 65
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 64
072 S000000 22
072 T000000 3354
<PAGE> PAGE 8
072 U000000 0
072 V000000 0
072 W000000 25
072 X000000 11823
072 Y000000 0
072 Z000000 7316
072AA000000 191105
072BB000000 0
072CC010000 0
072CC020000 54558
072DD010000 8966
072DD020000 268
072EE000000 118598
073 A010000 0.0850
073 A020000 0.0410
073 B000000 1.2080
073 C000000 0.0000
074 A000000 0
074 B000000 26383
074 C000000 22458
074 D000000 0
074 E000000 0
074 F000000 1157938
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1136
074 K000000 0
074 L000000 3261
074 M000000 0
074 N000000 1211176
074 O000000 7844
074 P000000 3165
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 875
074 S000000 0
074 T000000 1199292
074 U010000 121759
074 U020000 10095
074 V010000 9.07
074 V020000 8.85
074 W000000 0.0000
074 X000000 44547
074 Y000000 0
075 A000000 0
075 B000000 1125859
076 000000 0.00
077 A000000 Y
<PAGE> PAGE 9
077 B000000 Y
077 C000000 Y
080 A000000 FEDERAL INSURANCE COMPANU
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 97
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE PAUL G. BUCUVALAS
TITLE VICE PRESIDENT
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 Putnam Investors Fund Class A AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE>YEAR
<FISCAL-YEAR-END>JULY-31-1996
<PERIOD-END>JULY-31-1996
<INVESTMENTS-AT-COST>1,046,288,390
<INVESTMENTS-AT-VALUE>1,206,778,539
<RECEIVABLES>4,397,148
<ASSETS-OTHER>354
<OTHER-ITEMS-ASSETS>0
<TOTAL-ASSETS>1,211,176,041
<PAYABLE-FOR-SECURITIES>7,844,232
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>4,039,747
<TOTAL-LIABILITIES>11,883,979
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>918,730,140
<SHARES-COMMON-STOCK>121,759,351
<SHARES-COMMON-PRIOR>105,770,153
<ACCUMULATED-NII-CURRENT>6,575,540
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>113,496,233
<OVERDISTRIBUTION-GAINS>0
<ACCUM-APPREC-OR-DEPREC>160,490,149
<NET-ASSETS>1,199,292,062
<DIVIDEND-INCOME>16,536,750
<INTEREST-INCOME>2,602,467
<OTHER-INCOME>0
<EXPENSES-NET>11,823,136
<NET-INVESTMENT-INCOME>7,316,081
<REALIZED-GAINS-CURRENT>191,105,305
<APPREC-INCREASE-CURRENT>(54,557,549)
<NET-CHANGE-FROM-OPS>143,863,837
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>(8,965,954)
<DISTRIBUTIONS-OF-GAINS>(118,598,143)
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>29,556,382
<NUMBER-OF-SHARES-REDEEMED>(26,285,050)
<SHARES-REINVESTED>12,717,866
<NET-CHANGE-IN-ASSETS>193,682,601
<ACCUMULATED-NII-PRIOR>8,443,259
<ACCUMULATED-GAINS-PRIOR>48,594,304
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>6,630,898
<INTEREST-EXPENSE>0
<GROSS-EXPENSE>12,100,098
<AVERAGE-NET-ASSETS>1,053,190,863
<PER-SHARE-NAV-BEGIN>9.05
<PER-SHARE-NII>.06
<PER-SHARE-GAIN-APPREC>1.17
<PER-SHARE-DIVIDEND>(.09)
<PER-SHARE-DISTRIBUTIONS>(1.12)
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>9.07
<EXPENSE-RATIO>1.03
<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
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM Putnam Investors Fund Class B
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END>JULY-31-1996
<PERIOD-END>JULY-31-1996
<INVESTMENTS-AT-COST >1,046,288,390
<INVESTMENTS-AT-VALUE>1,206,778,539
<RECEIVABLES>4,397,148
<ASSETS-OTHER>354
<OTHER-ITEMS-ASSETS>0
<TOTAL-ASSETS>1,211,176,041
<PAYABLE-FOR-SECURITIES>7,844,232
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>4,039,747
<TOTAL-LIABILITIES>11,883,979
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>918,730,140
<SHARES-COMMON-STOCK>10,094,696
<SHARES-COMMON-PRIOR>5,394,454
<ACCUMULATED-NII-CURRENT>6,575,540
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>113,496,233
<OVERDISTRIBUTION-GAINS>0
<ACCUM-APPREC-OR-DEPREC>160,490,149
<NET-ASSETS>1,199,292,062
<DIVIDEND-INCOME>16,536,750
<INTEREST-INCOME>2,602,467
<OTHER-INCOME>0
<EXPENSES-NET>11,823,136
<NET-INVESTMENT-INCOME>7,316,081
<REALIZED-GAINS-CURRENT>191,105,305
<APPREC-INCREASE-CURRENT>(54,557,549)
<NET-CHANGE-FROM-OPS>143,863,837
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>(268,401)
<DISTRIBUTIONS-OF-GAINS>(7,315,560)
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>7,908,988
<NUMBER-OF-SHARES-REDEEMED>(4,056,752)
<SHARES-REINVESTED>848,006
<NET-CHANGE-IN-ASSETS>193,682,601
<ACCUMULATED-NII-PRIOR>8,443,259
<ACCUMULATED-GAINS-PRIOR>48,594,304
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>6,630,898
<INTEREST-EXPENSE>0
<GROSS-EXPENSE>12,100,098
<AVERAGE-NET-ASSETS>69,340,841
<PER-SHARE-NAV-BEGIN>8.88
<PER-SHARE-NII>0
<PER-SHARE-GAIN-APPREC>1.13
<PER-SHARE-DIVIDEND>(.04)
<PER-SHARE-DISTRIBUTIONS>(1.12)
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>8.85
<EXPENSE-RATIO>1.77
<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
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM Putnam Investors Fund Class M
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE>YEAR
<FISCAL-YEAR-END>JULY-31-1996
<PERIOD-END>JULY-31-1996
<INVESTMENTS-AT-COST >1,046,288,390
<INVESTMENTS-AT-VALUE>1,206,778,539
<RECEIVABLES>4,397,148
<ASSETS-OTHER>354
<OTHER-ITEMS-ASSETS>0
<TOTAL-ASSETS>1,211,176,041
<PAYABLE-FOR-SECURITIES>7,844,232
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>4,039,747
<TOTAL-LIABILITIES>11,883,979
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>918,730,140
<SHARES-COMMON-STOCK>627,491
<SHARES-COMMON-PRIOR>96,836
<ACCUMULATED-NII-CURRENT>6,575,540
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>113,496,233
<OVERDISTRIBUTION-GAINS>0
<ACCUM-APPREC-OR-DEPREC>160,490,149
<NET-ASSETS>1,199,292,062
<DIVIDEND-INCOME>16,536,750
<INTEREST-INCOME>2,602,467
<OTHER-INCOME>0
<EXPENSES-NET>11,823,136
<NET-INVESTMENT-INCOME>7,316,081
<REALIZED-GAINS-CURRENT>191,105,305
<APPREC-INCREASE-CURRENT>(54,557,549)
<NET-CHANGE-FROM-OPS>143,863,837
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>(17,785)
<DISTRIBUTIONS-OF-GAINS>(289,673)
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>821,240
<NUMBER-OF-SHARES-REDEEMED>(325,063)
<SHARES-REINVESTED>34,478
<NET-CHANGE-IN-ASSETS>193,682,601
<ACCUMULATED-NII-PRIOR>8,443,259
<ACCUMULATED-GAINS-PRIOR>48,594,304
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>6,630,898
<INTEREST-EXPENSE>0
<GROSS-EXPENSE>12,100,098
<AVERAGE-NET-ASSETS>3,326,834
<PER-SHARE-NAV-BEGIN>9.02
<PER-SHARE-NII>.05
<PER-SHARE-GAIN-APPREC>1.12
<PER-SHARE-DIVIDEND>(.07)
<PER-SHARE-DISTRIBUTIONS>(1.12)
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>9.00
<EXPENSE-RATIO>1.51
<AVG-DEBT-OUTSTANDING>0
<AVG-DEBT-PER-SHARE>0
??
</TABLE>
