<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000871839
<NAME> T. ROWE PRICE BALANCED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 1581355
<INVESTMENTS-AT-VALUE> 2144958
<RECEIVABLES> 332082
<ASSETS-OTHER> 27
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2477067
<PAYABLE-FOR-SECURITIES> 34622
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 325449
<TOTAL-LIABILITIES> 360071
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1522179
<SHARES-COMMON-STOCK> 107442
<SHARES-COMMON-PRIOR> 106184
<ACCUMULATED-NII-CURRENT> 544
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30679
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 563593
<NET-ASSETS> 2116996
<DIVIDEND-INCOME> 9244
<INTEREST-INCOME> 26719
<OTHER-INCOME> 0
<EXPENSES-NET> 8117
<NET-INVESTMENT-INCOME> 27846
<REALIZED-GAINS-CURRENT> 31554
<APPREC-INCREASE-CURRENT> (28677)
<NET-CHANGE-FROM-OPS> 30723
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (27302)
<DISTRIBUTIONS-OF-GAINS> (3085)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16315
<NUMBER-OF-SHARES-REDEEMED> (16527)
<SHARES-REINVESTED> 1470
<NET-CHANGE-IN-ASSETS> 26282
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2210
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8149
<AVERAGE-NET-ASSETS> 2040955
<PER-SHARE-NAV-BEGIN> 19.69
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (0.03)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.7
<EXPENSE-RATIO> 0.8
</TABLE>
