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 January, 1997
TARGET INCOME FUND, INC.
(Name of registered closed-end investment company)
<TABLE>
<CAPTION>
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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
- -------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
01/31/97 Common stock 4,140.482 $10.00 $41,404.82 Robert L. Hicks
01/31/97 Common stock 4,500.000 $10.00 $45,000.00 Sterling Trust Co.
01/31/97 Common stock 20,463.992 $10.00 $204,639.92 XL Associates, Inc.
01/31/97 Common stock 1,400.000 $10.00 $14,000.00 Petra M. Chavez
01/31/97 Common stock 1,000.000 $10.00 $10,000.00 Dolores M. Katsis
01/31/97 Common stock 1,536.343 $10.00 $15,363.43 George E. Hirst
01/31/97 Common stock 2,500.000 $10.00 $25,000.00 McGovern Family Trust
01/31/97 Common stock 4,105.442 $10.00 $41,054.42 Sterling Trust Co.
01/31/97 Common stock 1,026.361 $10.00 $10,263.61 Sterling Trust Co.
01/31/97 Common stock 2,500.000 $10.00 $25,000.00 Dolores M. Katsis
</TABLE>
TARGET INCOME FUND, INC.
(Name of Registrant)
By: /s/ Eric M. Banhazl
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(Name)
Secretary & Treasurer
---------------------
(Title)
Date of Statement: February 5, 1996
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