<PAGE> PAGE 1
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000 C000000 0000831025
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 AXP UTILITIES INCOME FUND, INC.
001 B000000 811-5522
001 C000000 6126713800
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
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002 D020000 0010
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008 A000001 AMERICAN EXPRESS FINANCIAL CORPORATION
008 B000001 A
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008 D020001 MN
008 D030001 55440
008 D040001 0010
011 A000001 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
011 B000001 8-16791
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011 C020001 MN
011 C030001 55440
011 C040001 0010
012 A000001 AMERICAN EXPRESS FIANACIAL CORPORATION
012 B000001 84-456
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012 C020001 MN
012 C030001 55440
<PAGE> PAGE 2
012 C040001 0010
013 A000001 KPMG LLP
013 B010001 MINNEAPOLIS
013 B020001 MN
013 B030001 55402
013 B040001 3900
014 A000001 AMERICAN EXPRESS FINANCIAL CORPORATION
014 B000001 8-31250
014 A000002 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
014 B000002 8-16791
014 A000003 IDS LIFE INSURANCE COMPANY
014 B000003 8-14124
014 A000004 AMERICAN EXPRESS FINANCIAL ADVISORS JAPAN INC
014 B000004 8-12550
014 A000005 AMERICAN EXPRESS SERVICE CORPORATION
014 B000005 8-27456
014 A000006 AMERICAN ENTERPRISE INVESTMENT SERVICES INC.
014 B000006 8-42582
015 A000001 AMERICAN EXPRESS TRUST COMPANY
015 B000001 C
015 C010001 MINNEAPOLIS
015 C020001 MN
015 C030001 55402
015 C040001 2307
015 E010001 X
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015 C020002 NY
015 C030002 10286
015 C040002 0001
015 E040002 X
018 000000 Y
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019 B000000 58
019 C000000 AMEXPFUNDS
020 A000001 ABN-AMRO INC
020 B000001 13-3227945
020 C000001 166
020 A000002 AMERICAN ENTERPRISE INV. SERV. INC.
020 B000002 41-1667086
020 C000002 141
020 A000003 SALOMON SMITH BARNEY INC
020 B000003 13-1912900
020 C000003 119
020 A000004 PRUDENTIAL SECURITIES INC.
020 B000004 22-2347336
020 C000004 111
020 A000005 LEHMAN BROTHERS INC.
020 B000005 13-2518466
020 C000005 103
<PAGE> PAGE 3
020 A000006 MORGAN STANLEY & CO. INC.
020 B000006 13-2655998
020 C000006 103
020 A000007 DRESDNER KLEINWORT BENSON NORTH AMERICAN LLC
020 B000007 13-3894311
020 C000007 92
020 A000008 SCHRODER WERTHEIM & CO. INC.
020 B000008 13-2697272
020 C000008 89
020 A000009 DEUTSCHE MORGAN SECURITIES INC.
020 B000009 13-2730828
020 C000009 87
020 A000010 FURMAN SELZ LLC
020 B000010 13-3856626
020 C000010 85
021 000000 2086
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 178973
022 D000001 27331
022 A000002 MERRILL LYNCH & CO., INC.
022 B000002 13-5674085
022 C000002 117465
022 D000002 21257
022 A000003 LEHMAN COMMERCIAL PAPER INC.
022 B000003 13-2501865
022 C000003 133409
022 D000003 0
022 A000004 SALOMON SMITH BARNEY INC.
022 B000004 13-1912900
022 C000004 50859
022 D000004 68719
022 A000005 CREDIT SUISSE FIRST BOSTON CORP.
022 B000005 13-5659485
022 C000005 79040
022 D000005 39955
022 A000006 MORGAN STANLEY & CO., INC.
022 B000006 13-2655998
022 C000006 68304
022 D000006 15005
022 A000007 MORGAN GUARANTY/MORGAN (JP) SECURITIES INC.
022 B000007 13-3224016
022 C000007 98573
022 D000007 0
022 A000008 CHASE INVESTMENT SERVICES CORP
022 B000008 13-5225436
022 C000008 69256
022 D000008 597
022 A000009 NATIONSBANK
022 B000009 75-0520130
022 C000009 35690
<PAGE> PAGE 4
022 D000009 0
022 A000010 FIRST CHICAGO CAPITAL MKTS INC.
022 B000010 36-3595942
022 C000010 27415
022 D000010 0
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024 000000 Y
025 A000001 SALOMON SMITH BARNEY
025 B000001 13-1912900
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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 10
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> AXP UTILITIES INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1790908417
<INVESTMENTS-AT-VALUE> 2112168106
<RECEIVABLES> 14261666
<ASSETS-OTHER> 89264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2126519036
<PAYABLE-FOR-SECURITIES> 4090356
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35178177
<TOTAL-LIABILITIES> 39268533
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1748621004
<SHARES-COMMON-STOCK> 159780639
<SHARES-COMMON-PRIOR> 138406448
<ACCUMULATED-NII-CURRENT> 272697
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17099504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 321257298
<NET-ASSETS> 1493672218
<DIVIDEND-INCOME> 26482653
<INTEREST-INCOME> 3316916
<OTHER-INCOME> 0
<EXPENSES-NET> 11990794
<NET-INVESTMENT-INCOME> 17808775
<REALIZED-GAINS-CURRENT> 44411412
<APPREC-INCREASE-CURRENT> (2617917)
<NET-CHANGE-FROM-OPS> 59602270
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 14223586
<DISTRIBUTIONS-OF-GAINS> 107789577
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20417555
<NUMBER-OF-SHARES-REDEEMED> 11140770
<SHARES-REINVESTED> 12097406
<NET-CHANGE-IN-ASSETS> 253991677
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 123178829
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5608001
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12020035
<AVERAGE-NET-ASSETS> 1402655558
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> .17
<PER-SHARE-DIVIDEND> .10
<PER-SHARE-DISTRIBUTIONS> .73
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.35
<EXPENSE-RATIO> 1.04
[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
<SERIES>
<NUMBER> 3
<NAME> AXP UTILITIES INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1790908417
<INVESTMENTS-AT-VALUE> 2112168106
<RECEIVABLES> 14261666
<ASSETS-OTHER> 89264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2126519036
<PAYABLE-FOR-SECURITIES> 4090356
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35178177
<TOTAL-LIABILITIES> 39268533
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1748621004
<SHARES-COMMON-STOCK> 63434932
<SHARES-COMMON-PRIOR> 46452053
<ACCUMULATED-NII-CURRENT> 272697
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17099504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 321257298
<NET-ASSETS> 592910395
<DIVIDEND-INCOME> 26482653
<INTEREST-INCOME> 3316916
<OTHER-INCOME> 0
<EXPENSES-NET> 11990794
<NET-INVESTMENT-INCOME> 17808775
<REALIZED-GAINS-CURRENT> 44411412
<APPREC-INCREASE-CURRENT> (2617917)
<NET-CHANGE-FROM-OPS> 59602270
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3305477
<DISTRIBUTIONS-OF-GAINS> 42653415
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16926981
<NUMBER-OF-SHARES-REDEEMED> 4849149
<SHARES-REINVESTED> 4905047
<NET-CHANGE-IN-ASSETS> 253991677
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 123178829
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5608001
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12020035
<AVERAGE-NET-ASSETS> 516606511
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .17
<PER-SHARE-DIVIDEND> .06
<PER-SHARE-DISTRIBUTIONS> .73
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.35
<EXPENSE-RATIO> 1.80
[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
<SERIES>
<NUMBER> 4
<NAME> AXP UTILITES INCOME FUND CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1790908417
<INVESTMENTS-AT-VALUE> 2112168106
<RECEIVABLES> 14261666
<ASSETS-OTHER> 89264
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2126519036
<PAYABLE-FOR-SECURITIES> 4090356
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35178177
<TOTAL-LIABILITIES> 39268533
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1748621004
<SHARES-COMMON-STOCK> 71473
<SHARES-COMMON-PRIOR> 55050
<ACCUMULATED-NII-CURRENT> 272697
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17099504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 321257298
<NET-ASSETS> 667890
<DIVIDEND-INCOME> 26482653
<INTEREST-INCOME> 3316916
<OTHER-INCOME> 0
<EXPENSES-NET> 11990794
<NET-INVESTMENT-INCOME> 17808775
<REALIZED-GAINS-CURRENT> 44411412
<APPREC-INCREASE-CURRENT> (2617917)
<NET-CHANGE-FROM-OPS> 59602270
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6431
<DISTRIBUTIONS-OF-GAINS> 47745
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12100
<NUMBER-OF-SHARES-REDEEMED> 1579
<SHARES-REINVESTED> 5902
<NET-CHANGE-IN-ASSETS> 253991677
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 123178829
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5608001
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12020035
<AVERAGE-NET-ASSETS> 582269
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> .11
<PER-SHARE-GAIN-APPREC> .16
<PER-SHARE-DIVIDEND> .11
<PER-SHARE-DISTRIBUTIONS> .73
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.34
<EXPENSE-RATIO> .88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
EXHIBIT 77D
For AXP Utilities Income Fund, Inc.
At a board of Directors' meeting held on September 8-9, 1999, the following
investment policy was eliminated:
Under normal market conditions, the Fund does not intend to commit more than
5% of its total assets to when-issued securities or forward commitments.
