<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 0000881329
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 VALUE LINE INTERMEDIATE BOND FUND
001 B000000 811-6482
001 C000000 2129071500
002 A000000 220 E. 42ND STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
002 D020000 5891
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 VALUE LINE, INC.
008 B000001 A
008 C000001 801-625
008 D010001 NYC
008 D020001 NY
008 D030001 10017
008 D040001 5891
011 A000001 VALUE LINE SECURITIES, INC.
011 B000001 8-848
011 C010001 NYC
011 C020001 NY
011 C030001 10017
011 C040001 5891
012 A000001 STATE STREET BANK AND TRUST COMPANY C/O NFDS
012 B000001 84-1
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
<PAGE> PAGE 2
012 C040001 6729
013 A000001 PRICE WATERHOUSE LLP
013 B010001 NYC
013 B020001 NY
013 B030001 10036
014 A000001 VALUE LINE SECURITIES, INC.
014 B000001 8-848
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 17
019 C000000 VALULINEFD
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 FIRST CHICAGO CAPITAL MARKETS, INC
022 B000001 36-3595942
022 C000001 4510
022 D000001 0
022 A000002 MORGAN STANLEY & CO., INC.
022 B000002 13-2655998
022 C000002 2190
022 D000002 0
022 A000003 STATE STREET BANK & TRUST COMPANY, N.A.
022 B000003 04-1867445
022 C000003 455
022 D000003 0
022 A000004 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000004 13-2741729
022 C000004 1977
022 D000004 0
022 A000005 BEAR, STEARNS & CO., INC.
022 B000005 13-3299429
022 C000005 0
022 D000005 912
022 A000006 GOLDMAN, SACHS & CO., INC.
022 B000006 13-5108880
022 C000006 0
<PAGE> PAGE 3
022 D000006 402
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 9132
023 D000000 1314
024 000000 N
025 D000001 0
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 N
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 70
028 A020000 47
028 A030000 0
028 A040000 214
028 B010000 133
028 B020000 51
028 B030000 0
028 B040000 88
028 C010000 30
028 C020000 49
028 C030000 0
028 C040000 187
028 D010000 96
028 D020000 50
028 D030000 0
028 D040000 78
028 E010000 7
028 E020000 49
028 E030000 0
028 E040000 80
028 F010000 11
<PAGE> PAGE 4
028 F020000 50
028 F030000 0
028 F040000 108
028 G010000 347
028 G020000 296
028 G030000 0
028 G040000 755
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
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 40
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.500
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
<PAGE> PAGE 5
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 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
058 B000000 N
058 C000000 N
058 D000000 N
058 E000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 Y
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
<PAGE> PAGE 6
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 19.0
062 N000000 41.0
062 O000000 0.0
062 P000000 35.3
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 8.2
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
<PAGE> PAGE 7
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1977
071 B000000 2096
071 C000000 14478
071 D000000 14
072 A000000 6
072 B000000 478
072 C000000 0
072 D000000 0
072 E000000 12
072 F000000 37
072 G000000 0
072 H000000 0
072 I000000 2
072 J000000 16
072 K000000 3
072 L000000 9
072 M000000 6
072 N000000 22
072 O000000 0
072 P000000 0
072 Q000000 16
072 R000000 13
072 S000000 5
072 T000000 19
072 U000000 7
072 V000000 0
072 W000000 2
072 X000000 157
072 Y000000 0
072 Z000000 333
072AA000000 0
072BB000000 0
072CC010000 0
072CC020000 0
072DD010000 333
072DD020000 0
072EE000000 0
073 A010000 0.1893
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 626
074 B000000 0
074 C000000 0
074 D000000 14160
074 E000000 0
074 F000000 0
074 G000000 0
<PAGE> PAGE 8
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 127
074 M000000 0
074 N000000 14913
074 O000000 0
074 P000000 9
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 51
074 S000000 0
074 T000000 14853
074 U010000 1757
074 U020000 0
074 V010000 0.00
074 V020000 8.45
074 W000000 0.0000
074 X000000 399
074 Y000000 0
075 A000000 0
075 B000000 14993
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 C000000 10000
081 A000000 Y
081 B000000 29
082 A000000 Y
<PAGE> PAGE 9
082 B000000 100
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JACK M. HOUSTON
TITLE ASST-TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000881329
<NAME> V.L.INTERMEDIATE BOND FUND, INC.
<MULTIPLIER> 1000
<CURRENCY> US
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-START> NOV-01-1996
<PERIOD-END> APR-30-1997
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 14550
<INVESTMENTS-AT-VALUE> 14160
<RECEIVABLES> 127
<ASSETS-OTHER> 626
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14913
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60
<TOTAL-LIABILITIES> 60
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21595
<SHARES-COMMON-STOCK> 1757
<SHARES-COMMON-PRIOR> 1770
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (63522)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (390)
<NET-ASSETS> 14853
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 478
<OTHER-INCOME> 0
<EXPENSES-NET> 145
<NET-INVESTMENT-INCOME> 333
<REALIZED-GAINS-CURRENT> (1)
<APPREC-INCREASE-CURRENT> (222)
<NET-CHANGE-FROM-OPS> 110
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 333
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40
<NUMBER-OF-SHARES-REDEEMED> 88
<SHARES-REINVESTED> 35
<NET-CHANGE-IN-ASSETS> (335)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6351)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 37
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 158
<AVERAGE-NET-ASSETS> 14993
<PER-SHARE-NAV-BEGIN> 8.58
<PER-SHARE-NII> .19
<PER-SHARE-GAIN-APPREC> (.13)
<PER-SHARE-DIVIDEND> .19
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.45
<EXPENSE-RATIO> 2.12
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>