SAFECO COMMON STOCK TRUST
24F-2NT, 1996-11-27
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 24F-2
                        ANNUAL NOTICE OF SECURITIES SOLD
                             PURSUANT TO RULE 24f-2

 Read instructions at end of Form before preparing Form. Please print or type.

- --------------------------------------------------------------------------------
1. Name and address of issuer:

                           SAFECO COMMON STOCK TRUST
                           SAFECO PLAZA
                           SEATTLE, WA 98185
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2. Name of each series or class of funds for which this notice is filed:

        SAFECO GROWTH FUND           SAFECO BALANCED FUND
        SAFECO EQUITY FUND           SAFECO INTERNATIONAL STOCK FUND
        SAFECO INCOME FUND           SAFECO SMALL COMPANY STOCK FUND
        SAFECO NORTHWEST FUND
- --------------------------------------------------------------------------------
3. Investment Company Act File Number:
                        
                           811-6167

   Securities Act File Number:
                          
                           33-36700
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4. Last day of fiscal year for which this notice is filed:

                           9/30/96
- --------------------------------------------------------------------------------
5. Check box if this notice is being filed more than 180 days after the close of
   the issuer's fiscal year for purposes of reporting securities sold after the
   close of the fiscal year but before termination of the issuer's 24f-2
   declaration: / /

                           N/A
- --------------------------------------------------------------------------------
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
   applicable (see Instruction A.6):

                           N/A
- --------------------------------------------------------------------------------
7. Number and amount of securities of the same class or series which had been
   registered under the Securities Act of 1933 other than pursuant to rule 24f-2
   in a prior fiscal year, but which remained unsold at the beginning of the
   fiscal year:

                           0
- --------------------------------------------------------------------------------
8. Number and amount of securities registered during the fiscal year other than
   pursuant to rule 24f-2:

                           0
- --------------------------------------------------------------------------------
9. Number and aggregate sale price of securities sold during the fiscal year:

                           NUMBER:    54,965,587
                           AMOUNT:  $898,732,080
- --------------------------------------------------------------------------------
SEC 2393 (9/95)
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10. Number and aggregate sale price of securities sold during the fiscal year in
    reliance upon registration pursuant to rule 24f-2:

                        NUMBER:    54,965,587
                        AMOUNT:  $898,732,080
- --------------------------------------------------------------------------------

11. Number and aggregate sale price of securities issued during the fiscal year
    in connection with dividend reinvestment plans, if applicable (see
    Instruction B.7):


- --------------------------------------------------------------------------------
12. Calculation of registration fee:

    (i)   Aggregate sale price of securities          $       898,732,080 
          sold during the fiscal year in reliance     --------------------------
          on rule 24f-2 (from Item 10):

    (ii)  Aggregate price of shares issued in         +                 0
          connection with dividend reinvestment       --------------------------
          plans (from item 11, if applicable):

    (iii) Aggregate price of shares redeemed or       -       735,277,798
          repurchased during the fiscal year          --------------------------
          (if applicable):

    (iv)  Aggregate price of shares redeemed or       +                 0
          repurchased and previously applied as       --------------------------
          a reduction to filing fees pursuant to
          rule 24e-2 (if applicable):

    (v)   Net aggregate price of securities sold              163,454,282
          and issued during the fiscal year in        --------------------------
          reliance on rule 24f-2 [line (i), plus
          line (ii), less line (iii), plus line
          (iv)] (if applicable):

    (vi)  Multiplier prescribed by Section 6(b)       x          .0003030
          of the Securities Act of 1933 or other      --------------------------
          applicable law or regulation (see
          Instruction C.6):

    (vii) Fee due [line (i) or line (v)               $             49,532
          multiplied by line (vi)]:                   -------------------------

INSTRUCTION: Issuers should complete lines (ii), (iii), (iv), and (v) only if
             the form is being filed within 60 days after the close of the
             issuer's fiscal year. See Instruction C.3.
- --------------------------------------------------------------------------------
13. Check box if fees are being remitted to the Commission's lockbox depository
    as described in section 3a of the Commission's Rules of Informal and Other
    Procedures (17 CFR 202.3a). /x/

    Date of mailing or wire transfer of filing fees to the Commission's lockbox
    depository:   
                                    11/27/96
- --------------------------------------------------------------------------------
                                   SIGNATURES

    This report has been signed below by the following persons on behalf of the
    issuer and in the capacities and on the dates indicated.

    By (Signature and Title)* /s/ Neal A. Fuller
                              --------------------------------------------------

                              NEAL A. FULLER, VICE PRESIDENT & CONTROLLER
                              --------------------------------------------------

    Date     11/27/96
         -----------------

  *Please print the name and title of the signing officer below the signature.
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