PUTNAM INVESTORS FUND
NSAR-A, 1996-03-29
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<PAGE>      PAGE  1
000 A000000 01/31/96
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
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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 SALOMON BROTHERS
020 B000001 13-3082694
020 C000001    172
020 A000002 PAINE WEBBER INC
020 B000002 13-2638166
020 C000002    142
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000003 13-5674085
020 C000003     92
020 A000004 FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004     82
020 A000005 MORGAN STANLEY INC.
020 B000005 13-2655998
020 C000005     68
020 A000006 ROYAL ALLIANCE ASSOCIATES INC.
020 B000006 93-0987232
020 C000006     62
020 A000007 EDWARDS (A.G.) & SONS INC.
020 B000007 43-0895477
020 C000007     49
020 A000008 BRIDGE TRADING CO.
020 B000008 43-1034850
020 C000008     47
020 A000009 BEAR STEARNS & CO.
020 B000009 13-4946705
020 C000009     38
020 A000010 LEHMAN BROTHERS
020 B000010 13-2518466
020 C000010     31
021  000000     1210
022 A000001 MORGAN STANLEY INC.
022 B000001 13-2655998
022 C000001     28330
022 D000001      4638
022 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000002 13-5674085
022 C000002     11328
022 D000002     11080
022 A000003 PAINE WEBBER INC.
<PAGE>      PAGE  3
022 B000003 13-2638166
022 C000003     11009
022 D000003      9279
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004      8824
022 D000004     10312
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005      7861
022 D000005      8844
022 A000006 SALOMON BROTHERS INC.
022 B000006 13-3082694
022 C000006         0
022 D000006     16059
022 A000007 FIRST BOSTON CO.
022 B000007 13-5659485
022 C000007      7780
022 D000007      3468
022 A000008 BROWN (ALEX) & SONS, INC.
022 B000008 52-0256630
022 C000008         0
022 D000008      8887
022 A000009 PIPER JAFFRAY & HOPWOOD
022 B000009 41-0953246
022 C000009      5832
022 D000009         0
022 A000010 PRUDENTIAL SECURITIES INC.
022 B000010 22-2347336
022 C000010      4351
022 D000010         0
023 C000000      98343
023 D000000      76139
024  000000 N
025 A000001 DELETE
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<PAGE>      PAGE  4
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<PAGE>      PAGE  6
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<PAGE>      PAGE  9
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080 A000000 FEDERAL INSURANCE COMPANU
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
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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>                        SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >    906,291,868	    
<INVESTMENTS-AT-VALUE>	1,134,339,151
<RECEIVABLES>	22,586,553
<ASSETS-OTHER>	391
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	1,156,926,095
<PAYABLE-FOR-SECURITIES>	8,844,217
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	3,341,998
<TOTAL-LIABILITIES>	12,186,215
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	884,619,566
<SHARES-COMMON-STOCK>	120,252,390
<SHARES-COMMON-PRIOR>	105,770,153
<ACCUMULATED-NII-CURRENT>	2,803,221
<OVERDISTRIBUTION-NII>	0
<ACCUMULATED-NET-GAINS>	29,269,810
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	228,047,283
<NET-ASSETS>	1,144,739,880
<DIVIDEND-INCOME>	7,841,968
<INTEREST-INCOME>	1,367,021
<OTHER-INCOME>	0
<EXPENSES-NET>	5,587,952
<NET-INVESTMENT-INCOME>	3,621,037
<REALIZED-GAINS-CURRENT>	106,853,717
<APPREC-INCREASE-CURRENT>	12,999,585
<NET-CHANGE-FROM-OPS>	123,474,339
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(8,975,599)
<DISTRIBUTIONS-OF-GAINS>	(118,571,814)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	12,232,266
<NUMBER-OF-SHARES-REDEEMED>	(10,467,889)
<SHARES-REINVESTED>	12,717,860
<NET-CHANGE-IN-ASSETS>	139,130,419
<ACCUMULATED-NII-PRIOR>	8,443,259
<ACCUMULATED-GAINS-PRIOR>	48,594,304
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	3,158,307
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	5,643,103
<AVERAGE-NET-ASSETS>	996,530,864
<PER-SHARE-NAV-BEGIN>	9.05
<PER-SHARE-NII>	.03
<PER-SHARE-GAIN-APPREC>	1.03
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(1.21)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	8.90
<EXPENSE-RATIO>	.51
<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>                        SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >   906,291,868	    
<INVESTMENTS-AT-VALUE>	1,134,339,151
<RECEIVABLES>	22,586,553
<ASSETS-OTHER>	391
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	1,156,926,095
<PAYABLE-FOR-SECURITIES>	8,844,217
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	3,341,998
<TOTAL-LIABILITIES>	12,186,215
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	884,619,566
<SHARES-COMMON-STOCK>	8,181,726
<SHARES-COMMON-PRIOR>	5,394,454
<ACCUMULATED-NII-CURRENT>	2,803,221
<OVERDISTRIBUTION-NII>	0
<ACCUMULATED-NET-GAINS>	29,269,810
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	228,047,283
<NET-ASSETS>	1,144,739,880
<DIVIDEND-INCOME>	7,841,968
<INTEREST-INCOME>	1,367,021
<OTHER-INCOME>	0
<EXPENSES-NET>	5,587,952
<NET-INVESTMENT-INCOME>	3,621,037
<REALIZED-GAINS-CURRENT>	106,853,717
<APPREC-INCREASE-CURRENT>	12,999,585
<NET-CHANGE-FROM-OPS>	123,474,339
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(267,085)
<DISTRIBUTIONS-OF-GAINS>	(7,315,505)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	3,290,708
<NUMBER-OF-SHARES-REDEEMED>	(1,351,332)
<SHARES-REINVESTED>	847,896
<NET-CHANGE-IN-ASSETS>	139,130,419
<ACCUMULATED-NII-PRIOR>	8,443,259
<ACCUMULATED-GAINS-PRIOR>	48,594,304
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	3,158,307
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	5,643,103
<AVERAGE-NET-ASSETS>	57,604,822
<PER-SHARE-NAV-BEGIN>	8.88
<PER-SHARE-NII>	0
<PER-SHARE-GAIN-APPREC>	1.00
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(1.16)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	8.72
<EXPENSE-RATIO>	.89
<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>                        SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >    906,291,868	    
<INVESTMENTS-AT-VALUE>	1,134,339,151
<RECEIVABLES>	22,586,553
<ASSETS-OTHER>	391
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	1,156,926,095
<PAYABLE-FOR-SECURITIES>	8,844,217
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	3,341,998
<TOTAL-LIABILITIES>	12,186,215
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	884,619,566
<SHARES-COMMON-STOCK>	397,402
<SHARES-COMMON-PRIOR>	96,836
<ACCUMULATED-NII-CURRENT>	2,803,221
<OVERDISTRIBUTION-NII>	0
<ACCUMULATED-NET-GAINS>	29,269,810
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	228,047,283
<NET-ASSETS>	1,144,739,880
<DIVIDEND-INCOME>	7,841,968
<INTEREST-INCOME>	1,367,021
<OTHER-INCOME>	0
<EXPENSES-NET>	5,587,952
<NET-INVESTMENT-INCOME>	3,621,037
<REALIZED-GAINS-CURRENT>	106,853,717
<APPREC-INCREASE-CURRENT>	12,999,585
<NET-CHANGE-FROM-OPS>	123,474,339
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(18,391)
<DISTRIBUTIONS-OF-GAINS>	(290,892)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	314,126
<NUMBER-OF-SHARES-REDEEMED>	(48,998)
<SHARES-REINVESTED>	35,438
<NET-CHANGE-IN-ASSETS>	139,130,419
<ACCUMULATED-NII-PRIOR>	8,443,259
<ACCUMULATED-GAINS-PRIOR>	48,594,304
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	3,158,307
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	5,643,103
<AVERAGE-NET-ASSETS>	1,918,202
<PER-SHARE-NAV-BEGIN>	9.02
<PER-SHARE-NII>	.03
<PER-SHARE-GAIN-APPREC>	1.00
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(1.19)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	8.86
<EXPENSE-RATIO>	.72
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        

</TABLE>


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