FORM N-23C-1
STATEMENT BY REGISTERED CLOSED-END INVESTMENT COMPANY WITH
RESPECT TO PURCHASES OF ITS OWN SECURITIES PURSUANT TO RULE
N-23C-1 DURING THE LAST CALENDAR MONTH
REPORT FOR CALENDAR MONTH ENDING October, 1996
<TABLE>
<CAPTION>
TARGET INCOME FUND, INC.
(Name of registered closed-end investment company)
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Approximate asset
Value or
Number of Price Approximate asset Name of Seller
Date of Identification of Shares Per coverage per share Or of Seller's
Transaction Security Purchased Share at time of purchase Broker
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
11/01/96 Common stock 498.469 $10.00 $4,984.69 Kazvmi Castro
11/01/96 Common stock 2,387.604 $10.00 $23,876.04 Transcorp
11/01/96 Common stock 310.000 $10.00 $3,100.00 Jon C. Primanti
11/01/96 Common stock 4,500.000 $10.00 $45,000.00 Robert L Hicks
11/01/96 Common stock 25,000.000 $10.00 $250,000.00 Transcorp
11/01/96 Common stock 3,000.000 $10.00 $30,000.00 Weatherford T.
Clayton
11/01/96 Common stock 500.000 $10.00 $5,000.00 Henry E. Mendoza
</TABLE>
TARGET INCOME FUND, INC.
(Name of Registrant)
By: /s/ Eric M. Banhazl
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(Name)
Secretary & Treasurer
--------------------------------------
(Title)
Date of Statement: November 5, 1996
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