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000 C000000 0000830622
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002 A000000 ONE POST OFFICE SQUARE
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012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
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015 A000001 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B000001 C
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<PAGE> PAGE 2
019 B000000 80
019 C000000 PUTNAMFUND
020 A000001 GENESIS MERCHANT GROUP
020 C000001 2
020 A000002 TIEDEMANN
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022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001 1446565
022 D000001 29726
022 A000002 KIDDER PEABODY & CO
022 B000002 13-5650440
022 C000002 968264
022 D000002 7387
022 A000003 BT SECURITIES CORP
022 B000003 13-3311934
022 C000003 763803
022 D000003 9646
022 A000004 MORGAN JP
022 B000004 13-5123346
022 C000004 400840
022 D000004 27630
022 A000005 MERRILL LYNCH
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022 C000005 227386
022 D000005 95627
022 A000006 GOLDMAN SACHS & CO
022 B000006 13-5108880
022 C000006 197953
022 D000006 49126
022 A000007 MORGAN STANLEY INC
022 B000007 13-2655998
022 C000007 66785
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022 A000008 PRUDENTIAL SECURITIES INC
022 B000008 22-2347336
022 C000008 104960
022 D000008 3022
022 A000009 DONALDSON LUFKIN & JENRETTE
022 B000009 13-2741729
022 C000009 31597
022 D000009 25091
<PAGE> PAGE 3
022 A000010 SALOMON BROTHERS INC.
022 B000010 13-3082694
022 C000010 15154
022 D000010 40466
023 C000000 4739499
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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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<PAGE> PAGE 8
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<PAGE> PAGE 9
SIGNATURE GORDON H. SILVER
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 Master Intermediate Income Trust AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEPT-30-1994
<PERIOD-END> SEPT-30-1994
<INVESTMENTS-AT-COST> 339,708,057
<INVESTMENTS-AT-VALUE> 324,793,819
<RECEIVABLES> 8,636,679
<ASSETS-OTHER> 14,669
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 333,445,167
<PAYABLE-FOR-SECURITIES> 11,896,536
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,252,793
<TOTAL-LIABILITIES> 16,149,329
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 363,176,669
<SHARES-COMMON-STOCK> 39,005,338
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (9,020,787)
<ACCUMULATED-NET-GAINS> (21,377,789)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (15,482,255)
<NET-ASSETS> 317,295,838
<DIVIDEND-INCOME> 79,918
<INTEREST-INCOME> 27,151,091
<OTHER-INCOME> 0
<EXPENSES-NET> (3,079,659)
<NET-INVESTMENT-INCOME> 24,151,350
<REALIZED-GAINS-CURRENT> (7,532,954)
<APPREC-INCREASE-CURRENT> (20,029,390)
<NET-CHANGE-FROM-OPS> (3,410,994)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23,860,234)
<DISTRIBUTIONS-OF-GAINS> (2,174,004)
<DISTRIBUTIONS-OTHER> (3,053,313)
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (30,324,541)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,522,541
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,079,659
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 8.91
<PER-SHARE-NII> 0.62
<PER-SHARE-GAIN-APPREC> (.71)
<PER-SHARE-DIVIDEND> (.61)
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<AVG-DEBT-OUTSTANDING>
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</TABLE>
