<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 876613
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 COLUMBIA BALANCED FUND, INC.
001 B000000 811-6338
001 C000000 5032223600
002 A000000 1301 SW FIFTH AVENUE
002 B000000 PORTLAND
002 C000000 OR
002 D010000 97201
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 GOLDMAN, SACHS & CO.
020 B000001 135108880
020 C000001 24
020 A000002 MORGAN STANLEY & CO., INC.
020 B000002 132655998
020 C000002 19
020 A000003 SHEARSON LEHMAN BROTHERS
020 B000003 132518466
020 C000003 19
020 A000004 WERTHEIM SCHRODER & CO.
020 B000004 132697272
020 C000004 17
020 A000005 FIRST BOSTON CORP. (THE)
020 B000005 135659485
020 C000005 11
020 A000006 MERRILL LYNCH, PIERCE
020 B000006 135674085
020 C000006 11
020 A000007 SALOMON BROTHERS, INC.
020 B000007 133082694
020 C000007 11
020 A000008 INSTINET CORP.
020 B000008 133443395
020 C000008 10
020 A000009 BEAR, STEARNS & CO., INC.
020 B000009 133299429
020 C000009 7
020 A000010 WEEDEN & CO. L.P.
020 B000010 133364318
<PAGE> PAGE 2
020 C000010 5
021 000000 189
022 A000001 MERRILL LYNCH
022 B000001 135674085
022 C000001 40253
022 D000001 17557
022 A000002 SALOMON BROTHERS
022 B000002 133082694
022 C000002 29685
022 D000002 27419
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 135108880
022 C000003 26518
022 D000003 17692
022 A000004 DONALDSON, LUFKIN, JENRETTE
022 B000004 132741729
022 C000004 9180
022 D000004 12489
022 A000005 BEAR, STEARNS & CO., INC.
022 B000005 133299429
022 C000005 11131
022 D000005 7177
022 A000006 FIRST BOSTON CORP. (THE)
022 B000006 135659485
022 C000006 7198
022 D000006 6409
022 A000007 SHEARSON LEHMAN
022 B000007 132518466
022 C000007 3934
022 D000007 7023
022 A000008 MORGAN (J.P.) SECURITIES
022 B000008 133224016
022 C000008 6029
022 D000008 4771
022 A000009 MORGAN STANLEY
022 B000009 132655998
022 C000009 6662
022 D000009 2773
022 A000010 SMITH BARNEY
022 B000010 131912900
022 C000010 3059
022 D000010 5890
023 C000000 167267
023 D000000 124428
024 000000 Y
025 A000001 MORGAN (J.P.) & CO.
025 B000001 133224016
025 C000001 E
025 D000001 3345
025 A000002 GOLDMAN, SACHS & CO.
025 B000002 135108880
<PAGE> PAGE 3
025 C000002 D
025 D000002 1531
025 A000003 MERRILL LYNCH & CO.
025 B000003 135674085
025 C000003 D
025 D000003 55
025 A000004 BEAR, STEARNS & CO.
025 B000004 133299429
025 C000004 D
025 D000004 527
025 A000005 MORGAN STANLEY
025 B000005 132655998
025 C000005 D
025 D000005 1951
025 D000006 0
025 D000007 0
025 D000008 0
028 A010000 21942
028 A020000 0
028 A030000 0
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028 B010000 36208
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028 D030000 0
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028 E040000 6494
028 F010000 22932
028 F020000 3614
028 F030000 0
028 F040000 4821
028 G010000 121997
028 G020000 6353
028 G030000 0
028 G040000 33209
028 H000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 4
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
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062 L000000 0.0
062 M000000 0.0
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062 P000000 0.0
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070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 233936
071 B000000 163566
<PAGE> PAGE 5
071 C000000 285740
071 D000000 57
072 A000000 6
072 B000000 6015
072 C000000 1831
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072 R000000 10
072 S000000 1
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072 U000000 0
072 V000000 0
072 W000000 14
072 X000000 1090
072 Y000000 0
072 Z000000 6756
072AA000000 7951
072BB000000 2917
072CC010000 26225
072CC020000 0
072DD010000 6457
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073 A010000 0.3500
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
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074 C000000 0
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<PAGE> PAGE 6
074 M000000 0
074 N000000 381024
074 O000000 3460
074 P000000 152
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1044
074 S000000 0
074 T000000 376368
074 U010000 19674
074 U020000 0
074 V010000 19.13
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078 000000 N
SIGNATURE GEORGE HANSETH
TITLE SR. VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED SEMI-ANNUAL REPORT OF COLUMBIA FUNDS DATED JUNE 30, 1995 AND THE
AUDITED ANNUAL REPORT OF COLUMBIA FUNDS DATED DECEMBER 31, 1994 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 307,588,300
<INVESTMENTS-AT-VALUE> 388,424,756
<RECEIVABLES> 4,328,493
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 38,270,142
<TOTAL-ASSETS> 381,023,391
<PAYABLE-FOR-SECURITIES> 3,459,893
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,195,963
<TOTAL-LIABILITIES> 4,655,856
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343,625,222
<SHARES-COMMON-STOCK> 19,674,465
<SHARES-COMMON-PRIOR> 14,447,360
<ACCUMULATED-NII-CURRENT> 353,146
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,552,711
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30,836,456
<NET-ASSETS> 376,367,535
<DIVIDEND-INCOME> 1,830,925
<INTEREST-INCOME> 6,015,193
<OTHER-INCOME> 0
<EXPENSES-NET> 1,090,409
<NET-INVESTMENT-INCOME> 6,755,709
<REALIZED-GAINS-CURRENT> 5,033,776
<APPREC-INCREASE-CURRENT> 26,224,747
<NET-CHANGE-FROM-OPS> 38,014,232
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,457,248
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,714,213
<NUMBER-OF-SHARES-REDEEMED> 1,826,812
<SHARES-REINVESTED> 339,704
<NET-CHANGE-IN-ASSETS> 126,697,294
<ACCUMULATED-NII-PRIOR> 54,685
<ACCUMULATED-GAINS-PRIOR> (3,481,065)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 788,782
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,090,409
<AVERAGE-NET-ASSETS> 315,186,205
<PER-SHARE-NAV-BEGIN> 17.28
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> 1.84
<PER-SHARE-DIVIDEND> .35
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.13
<EXPENSE-RATIO> .69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
