<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 0000814574
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PRINCOR BOND FUND, INC.
001 B000000 811-05172
001 C000000 5152475476
002 A000000 THE PRINCIPAL FINANCIAL GROUP
002 B000000 DES MOINES
002 C000000 IA
002 D010000 50392
002 D020000 0200
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
021 000000 0
022 A000001 ASSOCIATES CORPORATION OF NORTH AMERICA
022 B000001 74-1494554
022 C000001 163548
022 D000001 0
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 B000002 13-1500700
022 C000002 34838
022 D000002 0
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 1504
022 D000003 3274
022 A000004 NATIONS BANC CAPITAL MARKETS, INC.
022 B000004 56-1684171
022 C000004 3040
022 D000004 0
022 A000005 GOLDMAN SACHS CO.
022 B000005 13-5108880
022 C000005 2895
022 D000005 0
022 A000006 LEHMAN BROTHERS
022 B000006 13-2501865
022 C000006 983
022 D000006 1599
022 A000007 GENERAL ELECTRIC CO.
022 B000007 42-1192999
022 C000007 2258
<PAGE> PAGE 2
022 D000007 0
022 A000008 SG WARBURG AND CO.
022 B000008 13-3340045
022 C000008 0
022 D000008 2249
022 A000009 GRUNTAL & CO.
022 B000009 13-3179859
022 C000009 1896
022 D000009 0
022 A000010 PAINE WEBBER, INC.
022 B000010 13-2638166
022 C000010 0
022 D000010 1674
023 C000000 217253
023 D000000 9456
027 000000 Y
028 A010000 2004
028 A020000 469
028 A030000 0
028 A040000 1861
028 B010000 3088
028 B020000 948
028 B030000 0
028 B040000 2717
028 C010000 4159
028 C020000 489
028 C030000 0
028 C040000 2011
028 D010000 2563
028 D020000 500
028 D030000 0
028 D040000 2149
028 E010000 2794
028 E020000 506
028 E030000 0
028 E040000 2781
028 F010000 3638
028 F020000 508
028 F030000 0
028 F040000 2303
028 G010000 18246
028 G020000 3420
028 G030000 0
028 G040000 13822
028 H000000 7091
029 000000 Y
030 A000000 256
030 B000000 4.75
030 C000000 0.00
031 A000000 134
031 B000000 0
<PAGE> PAGE 3
032 000000 26
033 000000 96
034 000000 Y
035 000000 20
036 A000000 N
036 B000000 0
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 185
044 000000 0
055 A000000 N
055 B000000 N
062 A000000 Y
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 1.2
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 96.8
062 Q000000 0.0
062 R000000 2.0
063 A000000 0
063 B000000 11.0
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
<PAGE> PAGE 4
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 15065
071 B000000 7197
071 C000000 120273
071 D000000 6
072 A000000 6
072 B000000 4814
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 302
072 G000000 0
072 H000000 0
072 I000000 116
072 J000000 3
072 K000000 0
072 L000000 0
072 M000000 4
072 N000000 23
072 O000000 0
072 P000000 0
072 Q000000 0
<PAGE> PAGE 5
072 R000000 3
072 S000000 0
072 T000000 185
072 U000000 0
072 V000000 0
072 W000000 4
072 X000000 640
072 Y000000 21
072 Z000000 4195
072AA000000 515
072BB000000 0
072CC010000 0
072CC020000 3247
072DD010000 4492
072DD020000 367
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 2
074 B000000 0
074 C000000 1475
074 D000000 122305
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 2770
074 M000000 5
074 N000000 126557
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 170
074 S000000 0
074 T000000 126387
074 U010000 10405
074 U020000 1222
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 11892
074 Y000000 0
075 A000000 0
<PAGE> PAGE 6
075 B000000 124194
076 000000 0.00
077 A000000 N
SIGNATURE ARTHUR S. FILEAN
TITLE V.P. & SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 122,529,268
<INVESTMENTS-AT-VALUE> 123,780,301
<RECEIVABLES> 2,770,245
<ASSETS-OTHER> 4,975
<OTHER-ITEMS-ASSETS> 2,001
<TOTAL-ASSETS> 126,557,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 169,841
<TOTAL-LIABILITIES> 169,841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125,550,458
<SHARES-COMMON-STOCK> 10,405,287
<SHARES-COMMON-PRIOR> 10,151,468
<ACCUMULATED-NII-CURRENT> 64,896
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (478,706)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,251,033
<NET-ASSETS> 126,387,681
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,813,808
<OTHER-INCOME> 0
<EXPENSES-NET> (618,989)
<NET-INVESTMENT-INCOME> 4,194,819
<REALIZED-GAINS-CURRENT> 515,442
<APPREC-INCREASE-CURRENT> (3,246,685)
<NET-CHANGE-FROM-OPS> 1,463,576
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,491,970)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,133,242
<NUMBER-OF-SHARES-REDEEMED> (1,162,040)
<SHARES-REINVESTED> 282,617
<NET-CHANGE-IN-ASSETS> 4,448,712
<ACCUMULATED-NII-PRIOR> 728,898
<ACCUMULATED-GAINS-PRIOR> (994,148)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 301,461
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 639,911
<AVERAGE-NET-ASSETS> 124,130,556
<PER-SHARE-NAV-BEGIN> 11.17
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.44)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.87
<EXPENSE-RATIO> .95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses for
this period, this fund would have had per share net investment income of $.37
and a ratio of expenses to average net assets of .97%. The amount waived was
$16,146.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 122,529,268
<INVESTMENTS-AT-VALUE> 123,780,301
<RECEIVABLES> 2,770,245
<ASSETS-OTHER> 4,975
<OTHER-ITEMS-ASSETS> 2,001
<TOTAL-ASSETS> 126,557,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 169,841
<TOTAL-LIABILITIES> 169,841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125,550,458
<SHARES-COMMON-STOCK> 924,193
<SHARES-COMMON-PRIOR> 715,311
<ACCUMULATED-NII-CURRENT> 64,896
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (478,706)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,251,033
<NET-ASSETS> 126,387,681
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,813,808
<OTHER-INCOME> 0
<EXPENSES-NET> (618,989)
<NET-INVESTMENT-INCOME> 4,194,819
<REALIZED-GAINS-CURRENT> 515,442
<APPREC-INCREASE-CURRENT> (3,246,685)
<NET-CHANGE-FROM-OPS> 1,463,576
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (309,245)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269,632
<NUMBER-OF-SHARES-REDEEMED> (83,265)
<SHARES-REINVESTED> 22,515
<NET-CHANGE-IN-ASSETS> 4,448,712
<ACCUMULATED-NII-PRIOR> 728,898
<ACCUMULATED-GAINS-PRIOR> (994,148)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 301,461
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 639,911
<AVERAGE-NET-ASSETS> 124,130,556
<PER-SHARE-NAV-BEGIN> 11.15
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.39)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.86
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses for
this period, this fund would have had per share net investment income of $.33
and a ratio of expenses to average net assets of 1.75%. The amount waived was
$2,226.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 122,529,268
<INVESTMENTS-AT-VALUE> 123,780,301
<RECEIVABLES> 2,770,245
<ASSETS-OTHER> 4,975
<OTHER-ITEMS-ASSETS> 2,001
<TOTAL-ASSETS> 126,557,522
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 169,841
<TOTAL-LIABILITIES> 169,841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125,550,458
<SHARES-COMMON-STOCK> 298,273
<SHARES-COMMON-PRIOR> 47,094
<ACCUMULATED-NII-CURRENT> 64,896
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (478,706)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,251,033
<NET-ASSETS> 126,387,681
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,813,808
<OTHER-INCOME> 0
<EXPENSES-NET> (618,989)
<NET-INVESTMENT-INCOME> 4,194,819
<REALIZED-GAINS-CURRENT> 515,442
<APPREC-INCREASE-CURRENT> (3,246,685)
<NET-CHANGE-FROM-OPS> 1,463,576
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (57,606)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 254,536
<NUMBER-OF-SHARES-REDEEMED> (8,611)
<SHARES-REINVESTED> 5,254
<NET-CHANGE-IN-ASSETS> 4,448,712
<ACCUMULATED-NII-PRIOR> 728,898
<ACCUMULATED-GAINS-PRIOR> (994,148)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 301,461
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 639,911
<AVERAGE-NET-ASSETS> 124,130,556
<PER-SHARE-NAV-BEGIN> 11.16
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> (.26)
<PER-SHARE-DIVIDEND> (.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.86
<EXPENSE-RATIO> 1.43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses for
this period, this fund would have had per share net investment income of $.36
and a ratio of expenses to average net assets of 1.74%. The amount waived was
$2,550.
</FN>
</TABLE>
