<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 0000834237
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
001 B000000 811-5576
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
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 MERRILL LYNCH ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-11583
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
008 A000002 MERRILL LYNCH ASSET MANAGEMENT U.K., LTD.
008 B000002 S
008 C000002 801-31780
008 D010002 LONDON
008 D050002 ENGLAND
008 D060002 EC24 9LY
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
<PAGE> PAGE 2
011 C040001 9011
012 A000001 MERRILL LYNCH FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B000001 8-7221
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
015 A000002 CESKOSLOVENSKA OBCHODNI BANKA
015 B000002 S
015 C010002 PRAGUE
015 D010002 CZECH REPUBLIC
015 E040002 X
015 A000003 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000003 S
015 C010003 BOGOTA
015 D010003 COLUMBIA
015 E040003 X
015 A000004 MORGAN GUARANTY TRUST COMPANY
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10015
015 E010004 X
015 A000005 NATIONAL AUSTRALIA BANK LIMITED
015 B000005 S
015 C010005 SYDNEY
015 D010005 AUSTRALIA
015 D020005 3001
015 E040005 X
015 A000006 CREDITANSTALT BANKVEREIN
015 B000006 S
015 C010006 VIENNA
015 D010006 AUSTRIA
015 E040006 X
015 A000007 CANADIAN IMPERIAL BANK COMMERCE
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5L 1A2
<PAGE> PAGE 3
015 E040007 X
015 A000008 DEN DANSKE BANK
015 B000008 S
015 C010008 COPENHAGEN
015 D010008 DENMARK
015 D020008 DK-1091
015 E040008 X
015 A000009 UNION BANK OF FINLAND
015 B000009 S
015 C010009 HELSINKI
015 D010009 FINLAND
015 E040009 X
015 A000010 CHASE MANHATTAN BANK, N.A.
015 B000010 S
015 C010010 NEW YORK
015 C020010 NY
015 C030010 10015
015 E010010 X
015 A000011 ALLIED IRISH BANKS, PLC
015 B000011 S
015 C010011 DUBLIN
015 D010011 IRELAND
015 D020011 2
015 E040011 X
015 A000012 BANCA COMMERCIALE ITALIANA
015 B000012 S
015 C010012 MILAN
015 D010012 ITALY
015 D020012 20121
015 E040012 X
015 A000013 CITIBANK, N.A.
015 B000013 S
015 C010013 NEW YORK
015 C020013 NY
015 C030013 10015
015 E010013 X
015 A000014 ABN-AMRO HOLDING N.V.
015 B000014 S
015 C010014 AMSTERDAM
015 D010014 NETHERLANDS
015 D020014 1054 ET
015 E040014 X
015 A000015 BANCO SANTANDER
015 B000015 S
015 C010015 MADRID
015 D010015 SPAIN
015 D020015 28006
015 E040015 X
015 A000016 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B000016 S
015 C010016 LISBON
<PAGE> PAGE 4
015 D010016 PORTUGAL
015 D020016 1200
015 E040016 X
015 A000017 HONG KONG & SHANGHAI BANKING CORP.
015 B000017 S
015 C010017 HONG KONG
015 D010017 HONG KONG
015 E040017 X
015 A000018 SKANDINAVISKA ENSKILDA BANKEN
015 B000018 S
015 C010018 STOCKHOLM
015 D010018 SWEDEN
015 E040018 X
015 A000019 DEN NORSKE BANK
015 B000019 S
015 C010019 OSLO
015 D010019 NORWAY
015 E040019 X
015 A000020 CITIBANK BUDAPEST RT.
015 B000020 S
015 C010020 BUDAPEST
015 D010020 HUNGARY
015 E040020 X
015 A000021 CITIBANK POLAND S.A.
015 B000021 S
015 C010021 WARSAW
015 D010021 POLAND
015 E040021 X
015 A000022 FIRST NATIONAL BANK OF SOUTHERN AFRICA
015 B000022 S
015 C010022 JOHANNESBURG
015 D010022 SOUTH AFRICA
015 E040022 X
015 A000023 SWISS BANK CORPORATION
015 B000023 S
015 C010023 ZURICH
015 D010023 SWITZERLAND
015 E040023 X
015 A000024 SUMITOMO TRUST & BANKING CO., LTD.
015 B000024 S
015 C010024 TOKYO
015 D010024 JAPAN
015 E040024 X
015 A000025 STANDARD CHARTERED BANK
015 B000025 S
015 C010025 LONDON
015 D010025 UNITED KINGDOM
015 E040025 X
015 A000026 THE FIRST NATIONAL BANK OF BOSTON
015 B000026 S
015 C010026 MONTEVIDEO
<PAGE> PAGE 5
015 D010026 URUGUAY
015 E010026 X
015 A000027 BANQUE MAROCAINE DU COMMERCE EXTERIEUR
015 B000027 S
015 C010027 CASABLANCA
015 D010027 MOROCCO
015 E040027 X
015 A000028 BARCLAYS BANK BOTSWANA LTD.
015 B000028 S
015 C010028 GABORONE
015 D010028 BOTSWANA
015 E040028 X
015 A000029 BARLCAYS BANK OF GHANA LTD.
015 B000029 S
015 C010029 ACCRA
015 D010029 GHANA
015 E040029 X
015 A000030 BARCLAYS BANK OF KENYA LTD.
015 B000030 S
015 C010030 NAIROBI
015 D010030 KENYA
015 E040030 X
015 A000031 BARCLAYS BANK OF SWAZILAND LTD.
015 B000031 S
015 C010031 MBABANE
015 D010031 SWAZILAND
015 E040031 X
015 A000032 STANBIC BANK
015 B000032 S
015 C010032 LUKASA
015 D010032 ZAMBIA
015 E040032 X
015 A000033 STANBIC BANK
015 B000033 S
015 C010033 HARARE
015 D010033 ZIMBABWE
015 E040033 X
015 A000034 HONG KONG BANK MALAYSIA BERHAD
015 B000034 S
015 C010034 KUALA LUMPUR
015 D010034 MALAYSIA
015 E040034 X
015 A000035 CITIBANK, S.A.
015 B000035 S
015 C010035 MEXICO CITY
015 D010035 MEXICO
015 E040035 X
015 A000036 CAJA DE VALORES
015 B000036 S
015 C010036 ARGENTINA
015 D010036 ARGENTINA
<PAGE> PAGE 6
015 E040036 X
015 A000037 AUSTRACLEAR LIMITED
015 B000037 S
015 C010037 AUSTRALIA
015 D010037 AUSTRALIA
015 E040037 X
015 A000038 RITS
015 B000038 S
015 C010038 AUSTRALIA
015 D010038 AUSTRALIA
015 E040038 X
015 A000039 OESTERREICHISCHE KONTROLLBANK
015 B000039 S
015 C010039 AUSTRIA
015 D010039 AUSTRIA
015 E040039 X
015 A000040 CIK
015 B000040 S
015 C010040 BELGIUM
015 D010040 BELGIUM
015 E040040 X
015 A000041 SAO PAULO STOCK EXCHANGE
015 B000041 S
015 C010041 BRAZIL
015 D010041 BRAZIL
015 E040041 X
015 A000042 CDS
015 B000042 S
015 C010042 CANADA
015 D010042 CANADA
015 E040042 X
015 A000043 CEDEL, S.A.
015 B000043 S
015 C010043 LUXEMBOURG
015 D010043 CEDEL
015 E040043 X
015 A000044 SHANGHAI SECURITIES CENTRAL CLEARING
015 B000044 S
015 C010044 SHANGHAI
015 D010044 CHINA
015 E040044 X
015 A000045 SHENZHEN SECURITIES REGISTRATION CORPORATION
015 B000045 S
015 C010045 SHENZHEN
015 D010045 CHINA
015 E040045 X
015 A000046 SCP
015 B000046 S
015 C010046 CZECH REPUBLIC
015 D010046 CZECH REPUBLIC
015 E040046 X
<PAGE> PAGE 7
015 A000047 VP CENTER
015 B000047 S
015 C010047 DENMARK
015 D010047 DENMARK
015 E040047 X
015 A000048 EUROCLEAR
015 B000048 S
015 C010048 BELGIUM
015 D010048 BELGIUM
015 E040048 X
015 A000049 PANKKITARKASTUS VIRASTO
015 B000049 S
015 C010049 FINLAND
015 D010049 FINLAND
015 E040049 X
015 A000050 SICOVAM
015 B000050 S
015 C010050 FRANCE
015 D010050 FRANCE
015 E040050 X
015 A000051 KV
015 B000051 S
015 C010051 GERMANY
015 D010051 GERMANY
015 E040051 X
015 A000052 CCASS
015 B000052 S
015 C010052 HONG KONG
015 D010052 HONG KONG
015 E040052 X
015 A000053 MONTE TITOLI
015 B000053 S
015 C010053 ITALY
015 D010053 ITALY
015 E040053 X
015 A000054 MCD
015 B000054 S
015 C010054 MALAYSIA
015 D010054 MALAYSIA
015 E040054 X
015 A000055 INDEVAL
015 B000055 S
015 C010055 MEXICO
015 D010055 MEXICO
015 E040055 X
015 A000056 NECIGEF/KAS ASSOCIATIE NV
015 B000056 S
015 C010056 NETHERLANDS
015 D010056 NETHERLANDS
015 E040056 X
015 A000057 VPS
<PAGE> PAGE 8
015 B000057 S
015 C010057 NORWAY
015 D010057 NORWAY
015 E040057 X
015 A000058 NSD
015 B000058 S
015 C010058 POLAND
015 D010058 POLAND
015 E040058 X
015 A000059 CENTRAL DE VALORES MOBILAIROS
015 B000059 S
015 C010059 PORTUGAL
015 D010059 PORTUGAL
015 E040059 X
015 A000060 CDP
015 B000060 S
015 C010060 SINGAPORE
015 D010060 SINGAPORE
015 E040060 X
015 A000061 SCP
015 B000061 S
015 C010061 SLOVAK REPUBLIC
015 D010061 SLOVAK REPUBLIC
015 E040061 X
015 A000062 KSDC
015 B000062 S
015 C010062 SOUTH KOREA
015 D010062 SOUTH KOREA
015 E040062 X
015 A000063 SCL
015 B000063 S
015 C010063 SPAIN
015 D010063 SPAIN
015 E040063 X
015 A000064 PVT
015 B000064 S
015 C010064 SRI LANKA
015 D010064 SRI LANKA
015 E040064 X
015 A000065 VPC
015 B000065 S
015 C010065 SWEDEN
015 D010065 SWEDEN
015 E040065 X
015 A000066 SEGA
015 B000066 S
015 C010066 SWITZERLAND
015 D010066 SWITZERLAND
015 E040066 X
015 A000067 TSCD
015 B000067 S
<PAGE> PAGE 9
015 C010067 TAIWAN
015 D010067 TAIWAN
015 E040067 X
015 A000068 SDC
015 B000068 S
015 C010068 THAILAND
015 D010068 THAILAND
015 E040068 X
015 A000069 TAKASBANK
015 B000069 S
015 C010069 TURKEY
015 D010069 TURKEY
015 E040069 X
015 A000070 THE BANK OF ENGLAND
015 B000070 S
015 C010070 UNITED KINGDOM
015 D010070 UNITED KINGDOM
015 E040070 X
015 A000071 CGO
015 B000071 S
015 C010071 UNITED KINGDOM
015 D010071 UNITED KINGDOM
015 E040071 X
015 A000072 CMO
015 B000072 S
015 C010072 UNITED KINGDOM
015 D010072 UNITED KINGDOM
015 E040072 X
015 A000073 THE BANK OF NEW YORK
015 B000073 S
015 C010073 NEW YORK
015 C020073 NY
015 C030073 10015
015 E010073 X
015 A000074 BANKERS TRUST COMPANY
015 B000074 S
015 C010074 NEW YORK
015 C020074 NY
015 C030074 10006
015 E010074 X
015 A000075 CHEMICAL BANK
015 B000075 S
015 C010075 NEW YORK
015 C020075 NY
015 C030075 10017
015 E010075 X
015 A000076 CUSTODIAL TRUST CO.
015 B000076 S
015 C010076 NEW YORK
015 C020076 NY
015 C030076 10167
<PAGE> PAGE 10
015 E010076 X
015 A000077 BANQUE BRUXELLES LAMBERT
015 B000077 S
015 C010077 BELGIUM
015 D010077 BELGIUM
015 E040077 X
015 A000078 MERITA BANK
015 B000078 S
015 C010078 FINLAND
015 D010078 FINLAND
015 E040078 X
015 A000079 BANQUE PARIBAS
015 B000079 S
015 C010079 FRANCE
015 D010079 FRANCE
015 E040079 X
015 A000080 DRESDNER BANK
015 B000080 S
015 C010080 GERMANY
015 D010080 GERMANY
015 E040080 X
015 A000081 CITIBANK, ATHENS
015 B000081 S
015 C010081 GREECE
015 D010081 GREECE
015 E040081 X
015 A000082 BANK HAPOALIM, B.M.
015 B000082 S
015 C010082 ISRAEL
015 D010082 ISRAEL
015 E040082 X
015 A000083 ARAB BANK, PLC
015 B000083 S
015 C010083 AMMAN
015 D010083 JORDAN
015 E040083 X
015 A000084 APOTHETIRIO TITLON A.E.
015 B000084 S
015 C010084 GREECE
015 D010084 GREECE
015 E040084 X
015 A000085 TASE
015 B000085 S
015 C010085 ISRAEL
015 D010085 ISRAEL
015 E040085 X
015 A000086 AUSTRACLEAR NZ
015 B000086 S
015 C010086 NEW ZEALAND
015 D010086 NEW ZEALAND
015 E040086 X
<PAGE> PAGE 11
015 A000087 STANBIC BANK
015 B000087 S
015 C010087 ZAMBIA
015 D010087 ZAMBIA
015 E040087 X
015 A000088 STANBIC BANK
015 B000088 S
015 C010088 ZIMBABWE
015 D010088 ZIMBABWE
015 E040088 X
015 A000089 CRYL
015 B000089 S
015 C010089 ARGENTINA
015 D010089 ARGENTINA
015 E040089 X
015 A000090 BANQUE NATIONALE DE BELGIQUE
015 B000090 S
015 C010090 BELGIUM
015 D010090 BELGIUM
015 E040090 X
015 A000091 CLC
015 B000091 S
015 C010091 BRAZIL
015 D010091 BRAZIL
015 E040091 X
015 A000092 BANK OF CANADA
015 B000092 S
015 C010092 CANADA
015 D010092 CANADA
015 E040092 X
015 A000093 CZECH NATIONAL BANK
015 B000093 S
015 C010093 CZECH REPUBLIC
015 D010093 CZECH REPUBLIC
015 E040093 X
015 A000094 BANQUE DE FRANCE
015 B000094 S
015 C010094 FRANCE
015 D010094 FRANCE
015 E040094 X
015 A000095 GILTS SETTLEMENT OFFICE
015 B000095 S
015 C010095 IRELAND
015 D010095 IRELAND
015 E040095 X
015 A000096 CREST
015 B000096 S
015 C010096 IRELAND
015 D010096 IRELAND
015 E040096 X
015 A000097 BANCA D' ITALIA
<PAGE> PAGE 12
015 B000097 S
015 C010097 ITALY
015 D010097 ITALY
015 E040097 X
015 A000098 JASDEC
015 B000098 S
015 C010098 JAPAN
015 D010098 JAPAN
015 E040098 X
015 A000099 BANK OF JAPAN
015 B000099 S
015 C010099 JAPAN
015 D010099 JAPAN
015 E040099 X
018 000000 Y
019 A000000 Y
019 B000000 194
019 C000000 MERRILLLYN
020 A000001 SALOMON BROTHERS INC
020 B000001 13-3082694
020 C000001 428
020 A000002 ROBERT FLEMING INC.
020 B000002 13-3298866
020 C000002 203
020 A000003 MORGAN STANLEY & CO. INCORPORATED
020 B000003 13-2655998
020 C000003 151
020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004 141
020 A000005 BROWN (ALEX.) & SONS INCORPORATED
020 B000005 52-1319768
020 C000005 123
020 A000006 FRIEDMAN, BILLINGS, RAMSEY & CO., INC.
020 B000006 52-1634077
020 C000006 122
020 A000007 CREDIT LYONNAIS SECURITIES (USA) INC.
020 C000007 111
020 A000008 RAUSCHER PIERCE REFSNES, INC.
020 B000008 75-1828470
020 C000008 106
020 A000009 BZW SECURITIES INC.
020 B000009 13-3551367
020 C000009 105
020 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000010 13-5674085
020 C000010 100
021 000000 3316
022 A000001 GENERAL ELECTRIC CAPITAL CORP.
022 C000001 5445675
022 D000001 0
<PAGE> PAGE 13
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002 2408581
022 D000002 290852
022 A000003 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000003 13-5659485
022 C000003 2494196
022 D000003 18245
022 A000004 GENERAL MOTORS ACCEPTANCE CORP.
022 C000004 2224077
022 D000004 99405
022 A000005 LEHMAN BROTHERS INC.
022 B000005 13-2518466
022 C000005 1410197
022 D000005 6834
022 A000006 MORGAN (J.P.) SECURITIES INC.
022 B000006 13-3224016
022 C000006 1212336
022 D000006 92178
022 A000007 HSBC SECURITIES, INC.
022 B000007 13-2650272
022 C000007 1269885
022 D000007 21202
022 A000008 DEUTSCHE MORGAN GRENFELL/C.J. LAWRENCE INC.
022 B000008 13-2730828
022 C000008 1228785
022 D000008 37918
022 A000009 UBS SECURITIES LLC
022 B000009 13-3873456
022 C000009 810387
022 D000009 397463
022 A000010 MORGAN STANLEY & CO. INCORPORATED
022 B000010 13-2655998
022 C000010 460111
022 D000010 58532
023 C000000 21289108
023 D000000 1769248
024 000000 Y
025 A000001 GOLDMAN SACHS GROUP L.P.
025 C000001 D
025 D000001 49801
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
<PAGE> PAGE 14
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 203178
028 A020000 0
028 A030000 0
028 A040000 127401
028 B010000 215675
028 B020000 780748
028 B030000 0
028 B040000 148155
028 C010000 334735
028 C020000 0
028 C030000 0
028 C040000 212347
028 D010000 303167
028 D020000 0
028 D030000 0
028 D040000 181575
028 E010000 269025
028 E020000 0
028 E030000 0
028 E040000 206090
028 F010000 280774
028 F020000 0
028 F030000 0
028 F040000 219997
028 G010000 1606554
028 G020000 780748
028 G030000 0
028 G040000 1095565
028 H000000 340655
029 000000 Y
030 A000000 2149
030 B000000 5.25
030 C000000 0.00
031 A000000 162
031 B000000 0
032 000000 0
033 000000 1987
034 000000 Y
035 000000 6676
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
<PAGE> PAGE 15
040 000000 Y
041 000000 Y
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 48644
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 2500000
048 A020000 0.750
048 B010000 2500000
048 B020000 0.700
048 C010000 2500000
048 C020000 0.650
048 D010000 2500000
048 D020000 0.625
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 10000000
048 K020000 0.600
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
<PAGE> PAGE 16
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
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
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 Y
070 C010000 Y
<PAGE> PAGE 17
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 Y
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000 3429715
071 B000000 2384922
071 C000000 9471292
071 D000000 25
072 A000000 6
072 B000000 293387
072 C000000 50766
072 D000000 0
072 E000000 3188
072 F000000 46965
072 G000000 316
072 H000000 0
072 I000000 8077
072 J000000 1297
072 K000000 0
072 L000000 572
072 M000000 22
072 N000000 543
072 O000000 0
072 P000000 0
<PAGE> PAGE 18
072 Q000000 0
072 R000000 30
072 S000000 77
072 T000000 48644
072 U000000 0
072 V000000 0
072 W000000 451
072 X000000 106994
072 Y000000 5364
072 Z000000 245711
072AA000000 675498
072BB000000 94026
072CC010000 0
072CC020000 112483
072DD010000 97904
072DD020000 269625
072EE000000 521330
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 4837
074 B000000 0
074 C000000 2472278
074 D000000 5686994
074 E000000 300689
074 F000000 4351240
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 186577
074 K000000 0
074 L000000 262484
074 M000000 21090
074 N000000 13286189
074 O000000 90446
074 P000000 15129
074 Q000000 0
074 R010000 0
074 R020000 97702
074 R030000 3813
074 R040000 29379
074 S000000 0
074 T000000 13049720
074 U010000 220739
074 U020000 664537
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 894731
074 Y000000 0
<PAGE> PAGE 19
075 A000000 0
075 B000000 12627791
076 000000 0.00
077 A000000 Y
077 O000000 Y
078 000000 N
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000834237
<NAME> MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 12104600269
<INVESTMENTS-AT-VALUE> 12709685749
<RECEIVABLES> 449060732
<ASSETS-OTHER> 25927750
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13184674231
<PAYABLE-FOR-SECURITIES> 90445975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44508595
<TOTAL-LIABILITIES> 134954570
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11555939290
<SHARES-COMMON-STOCK> 135032027
<SHARES-COMMON-PRIOR> 121392667
<ACCUMULATED-NII-CURRENT> 66814407
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 580209393
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 846756571
<NET-ASSETS> 2015474045
<DIVIDEND-INCOME> 50766019
<INTEREST-INCOME> 293386601
<OTHER-INCOME> 3187839
<EXPENSES-NET> (101629588)
<NET-INVESTMENT-INCOME> 245710871
<REALIZED-GAINS-CURRENT> 581471806
<APPREC-INCREASE-CURRENT> (112483366)
<NET-CHANGE-FROM-OPS> 714699311
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (63074471)
<DISTRIBUTIONS-OF-GAINS> (79203184)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17236536
<NUMBER-OF-SHARES-REDEEMED> (12464033)
<SHARES-REINVESTED> 8866857
<NET-CHANGE-IN-ASSETS> 1117577775
<ACCUMULATED-NII-PRIOR> 188632757
<ACCUMULATED-GAINS-PRIOR> 520067231
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46965002
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106993479
<AVERAGE-NET-ASSETS> 1947840226
<PER-SHARE-NAV-BEGIN> 15.17
<PER-SHARE-NII> .35
<PER-SHARE-GAIN-APPREC> .58
<PER-SHARE-DIVIDEND> (.52)
<PER-SHARE-DISTRIBUTIONS> (.65)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.93
<EXPENSE-RATIO> .92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000834237
<NAME> MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 12104600269
<INVESTMENTS-AT-VALUE> 12709685749
<RECEIVABLES> 449060732
<ASSETS-OTHER> 25927750
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13184674231
<PAYABLE-FOR-SECURITIES> 90445975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44508595
<TOTAL-LIABILITIES> 134954570
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11555939290
<SHARES-COMMON-STOCK> 628389076
<SHARES-COMMON-PRIOR> 579336002
<ACCUMULATED-NII-CURRENT> 66814407
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 580209393
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 846756571
<NET-ASSETS> 9230832694
<DIVIDEND-INCOME> 50766019
<INTEREST-INCOME> 293386601
<OTHER-INCOME> 3187839
<EXPENSES-NET> (101629588)
<NET-INVESTMENT-INCOME> 245710871
<REALIZED-GAINS-CURRENT> 581471806
<APPREC-INCREASE-CURRENT> (112483366)
<NET-CHANGE-FROM-OPS> 714699311
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (257349297)
<DISTRIBUTIONS-OF-GAINS> (378949932)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68440805
<NUMBER-OF-SHARES-REDEEMED> (58825044)
<SHARES-REINVESTED> 39437313
<NET-CHANGE-IN-ASSETS> 1117577775
<ACCUMULATED-NII-PRIOR> 188632757
<ACCUMULATED-GAINS-PRIOR> 520067231
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46965002
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106993479
<AVERAGE-NET-ASSETS> 9061072504
<PER-SHARE-NAV-BEGIN> 14.95
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .56
<PER-SHARE-DIVIDEND> (.44)
<PER-SHARE-DISTRIBUTIONS> (.65)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.69
<EXPENSE-RATIO> 1.94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000834237
<NAME> MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 12104600269
<INVESTMENTS-AT-VALUE> 12709685749
<RECEIVABLES> 449060732
<ASSETS-OTHER> 25927750
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13184674231
<PAYABLE-FOR-SECURITIES> 90445975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44508595
<TOTAL-LIABILITIES> 134954570
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11555939290
<SHARES-COMMON-STOCK> 36148049
<SHARES-COMMON-PRIOR> 26018395
<ACCUMULATED-NII-CURRENT> 66814407
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 580209393
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 846756571
<NET-ASSETS> 526044410
<DIVIDEND-INCOME> 50766019
<INTEREST-INCOME> 293386601
<OTHER-INCOME> 3187839
<EXPENSES-NET> (101629588)
<NET-INVESTMENT-INCOME> 245710871
<REALIZED-GAINS-CURRENT> 581471806
<APPREC-INCREASE-CURRENT> (112483366)
<NET-CHANGE-FROM-OPS> 714699311
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12276134)
<DISTRIBUTIONS-OF-GAINS> (17801964)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11307782
<NUMBER-OF-SHARES-REDEEMED> (3104958)
<SHARES-REINVESTED> 1926830
<NET-CHANGE-IN-ASSETS> 1117577775
<ACCUMULATED-NII-PRIOR> 188632757
<ACCUMULATED-GAINS-PRIOR> 520067231
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46965002
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106993479
<AVERAGE-NET-ASSETS> 458106593
<PER-SHARE-NAV-BEGIN> 14.83
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .55
<PER-SHARE-DIVIDEND> (.45)
<PER-SHARE-DISTRIBUTIONS> (.65)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.55
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000834237
<NAME> MERRILL LYNCH GLOBAL ALLOCATION FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> CLASS D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 12104600269
<INVESTMENTS-AT-VALUE> 12709685749
<RECEIVABLES> 449060732
<ASSETS-OTHER> 25927750
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 13184674231
<PAYABLE-FOR-SECURITIES> 90445975
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44508595
<TOTAL-LIABILITIES> 134954570
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11555939290
<SHARES-COMMON-STOCK> 85707398
<SHARES-COMMON-PRIOR> 68909658
<ACCUMULATED-NII-CURRENT> 66814407
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 580209393
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 846756571
<NET-ASSETS> 1277368512
<DIVIDEND-INCOME> 50766019
<INTEREST-INCOME> 293386601
<OTHER-INCOME> 3187839
<EXPENSES-NET> (101629588)
<NET-INVESTMENT-INCOME> 245710871
<REALIZED-GAINS-CURRENT> 581471806
<APPREC-INCREASE-CURRENT> (112483366)
<NET-CHANGE-FROM-OPS> 714699311
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (34829319)
<DISTRIBUTIONS-OF-GAINS> (45374563)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18781747
<NUMBER-OF-SHARES-REDEEMED> (6738467)
<SHARES-REINVESTED> 4754460
<NET-CHANGE-IN-ASSETS> 1117577775
<ACCUMULATED-NII-PRIOR> 188632757
<ACCUMULATED-GAINS-PRIOR> 520067231
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46965002
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106993479
<AVERAGE-NET-ASSETS> 1160771298
<PER-SHARE-NAV-BEGIN> 15.15
<PER-SHARE-NII> .33
<PER-SHARE-GAIN-APPREC> .57
<PER-SHARE-DIVIDEND> (.50)
<PER-SHARE-DISTRIBUTIONS> (.65)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.90
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
