<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 888127
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 SMITH BARNEY MUNICIPAL FUND, INC.
001 B000000 811-6688
001 C000000 2128166550
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
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008 A000001 SMITH BARNEY
008 B000001 A
008 C000001 801-3389
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10013
010 A000001 SMITH BARNEY
010 B000001 801-14437
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10013
011 A000001 SMITH BARNEY
011 B000001 8-81777
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10013
012 A000001 FIRST DATA INVESTOR SERVICES GROUP
012 B000001 85-0000000
012 C010001 BOSTON
<PAGE> PAGE 2
012 C020001 MA
012 C030001 02104
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10154
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
015 C030001 19103
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 127
019 C000000 BARNEY0000
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 CITICORP INVESTORS SERVICES
022 B000001 N/A
022 C000001 2000
022 D000001 2500
022 A000002 BEAR STEARNS
022 B000002 13-3299429
022 C000002 2054
022 D000002 1000
022 A000003 PAINE WEBBER
022 B000003 13-2638166
022 C000003 483
022 D000003 1428
022 A000004 A.G. EDWARDS & SON, INC.
022 B000004 N/A
022 C000004 0
022 D000004 1471
022 A000005 ZIONS INVESTMENT SECURITIES, INC.
022 B000005 N/A
022 C000005 1458
022 D000005 0
022 A000006 MAXCOR FINANCIAL GROUP
022 B000006 N/A
022 C000006 0
022 D000006 1225
<PAGE> PAGE 3
022 A000007 J.P. MORGAN SECURITIES INC.
022 B000007 13-3224016
022 C000007 0
022 D000007 1080
022 A000008 RAUSCHER PIERCE REFSNES, INC.
022 B000008 N/A
022 C000008 1061
022 D000008 0
022 A000009 A.F. BEST SECURITIES, INC.
022 B000009 N/A
022 C000009 997
022 D000009 0
022 A000010 MORGAN STANLEY
022 B000010 13-2655998
022 C000010 957
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<PAGE> PAGE 4
048 K010000 0
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<PAGE> PAGE 5
070 G020000 N
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070 K010000 N
070 K020000 N
070 L010000 N
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070 N010000 N
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070 P010000 N
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<PAGE> PAGE 6
072 Y000000 0
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080 A000000 ICI MUTUAL INSURANCE CO
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<PAGE> PAGE 7
081 B000000 127
082 A000000 N
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000888127
[NAME] SMITH BARNEY MUNICIPAL FUND, INC.
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 59,083,676
[INVESTMENTS-AT-VALUE] 61,534,265
[RECEIVABLES] 1,177,318
[ASSETS-OTHER] 191,505
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 62,903,088
[PAYABLE-FOR-SECURITIES] 492,297
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 190,073
[TOTAL-LIABILITIES] 682,370
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 60,196,664
[SHARES-COMMON-STOCK] 4,021,162
[SHARES-COMMON-PRIOR] 4,021,162
[ACCUMULATED-NII-CURRENT] 20,368
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (446,903)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2,450,589
[NET-ASSETS] 62,220,718
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 1,920,626
[OTHER-INCOME] 0
[EXPENSES-NET] 261,958
[NET-INVESTMENT-INCOME] 1,658,668
[REALIZED-GAINS-CURRENT] 45,583
[APPREC-INCREASE-CURRENT] 217,458
[NET-CHANGE-FROM-OPS] 1,921,709
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,713,015
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 208,694
[ACCUMULATED-NII-PRIOR] 74,715
[ACCUMULATED-GAINS-PRIOR] (492,486)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 214,153
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 261,958
[AVERAGE-NET-ASSETS] 61,863,698
[PER-SHARE-NAV-BEGIN] 15.42
[PER-SHARE-NII] 00.41
[PER-SHARE-GAIN-APPREC] 00.07
[PER-SHARE-DIVIDEND] 00.43
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 15.47
[EXPENSE-RATIO] 00.85
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SMITH BARNEY MUNICIPAL FUND, INC.
10f-3 REPORT
January 1, 1997 through April 30, 1997
% of
Trade Selling Par Purchase Fund % of
Issuer Date Dealer Amount
Price Assets Issue
Puerto Rico Muni Fin. Ag. 4/11/97 Morgan Stanley
$1,000,000 $95.744 1.64% 2.18%
5.50% due 7/1/2021
Oregon Dept. of Admin. 4/17/97 Bear Stearns 500,000
97.995 0.80 1.29
5.80% due 5/1/2024
Oregon St. Hsg. & Comm. 4/30/97 Bear Stearns 500,000
100.00 0.81 3.36
6.20% due 7/1/2027
