<PAGE> PAGE 1
000 B000000 07/31/99
000 C000000 0000889169
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 DREYFUS INVESTMENT GRADE BOND FUNDS, INC.
001 B000000 811-6718
001 C000000 2129226832
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 DREYFUS SHORT TERM INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 DREYFUS INTERMEDIATE TERM INCOME FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 163
019 C00AA00 DREYFUSFAM
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001 68
020 A000002 GOLDMAN, SACHS & CO.
020 B000002 13-5108880
020 C000002 6
020 A000003 GREENWICH PARTNERS, INC.
020 B000003 13-3176013
020 C000003 6
020 A000004 AUTRANET, INC.
020 B000004 13-2961507
<PAGE> PAGE 2
020 C000004 3
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 83
022 A000001 CHASE SECURITIES, INC.
022 B000001 13-3112953
022 C000001 3786108
022 D000001 7412
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002 519465
022 D000002 196280
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 13-5108880
022 C000003 606806
022 D000003 79089
022 A000004 REPUBLIC NATIONAL BANK OF NEW YORK
022 B000004 13-2774727
022 C000004 674530
022 D000004 0
022 A000005 HSBC JAMES CAPEL SECURITIES, INC.
022 B000005 13-2650272
022 C000005 357444
022 D000005 0
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006 134727
022 D000006 41147
022 A000007 AUTRANET, INC.
022 B000007 13-2961507
022 C000007 55986
022 D000007 63106
022 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000008 13-2741729
022 C000008 48220
022 D000008 40994
022 A000009 BEAR, STEARNS & CO. INC.
022 B000009 13-3299429
022 C000009 42114
022 D000009 41442
022 A000010 SALOMON SMITH BARNEY
022 B000010 13-1912900
022 C000010 29306
022 D000010 47668
023 C000000 6558030
023 D000000 678985
077 A000000 Y
<PAGE> PAGE 3
077 B000000 Y
077 Q010000 N
080 A00AA00 VIGILANT INSURANCE COMPANY
080 B00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00 125000
081 A00AA00 Y
081 B00AA00 183
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
024 000100 Y
025 A000101 CHASE SECURITIES, INC.
025 B000101 13-3112953
025 C000101 D
025 D000101 4197
025 A000102 MERRILL LYNCH, PERICE, FENNER & SMITH INC.
025 B000102 13-5674085
025 C000102 D
025 D000102 4094
025 A000103 DELETE
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 15448
028 A020100 1504
028 A030100 0
028 A040100 13491
028 B010100 19384
028 B020100 1748
028 B030100 0
028 B040100 12776
028 C010100 14863
028 C020100 1508
028 C030100 0
028 C040100 17512
028 D010100 12753
028 D020100 1401
028 D030100 0
028 D040100 10929
028 E010100 12181
028 E020100 1696
028 E030100 0
028 E040100 14300
028 F010100 15985
028 F020100 1548
<PAGE> PAGE 4
028 F030100 0
028 F040100 16110
028 G010100 90614
028 G020100 9405
028 G030100 0
028 G040100 85118
028 H000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.8
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 2.6
062 N000100 15.6
062 O000100 0.0
062 P000100 88.3
062 Q000100 0.0
062 R000100 2.7
063 A000100 0
063 B000100 0.0
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
<PAGE> PAGE 5
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 756097
071 B000100 699431
071 C000100 341221
071 D000100 205
072 A000100 12
072 B000100 25208
072 C000100 1142
072 D000100 0
072 E000100 0
072 F000100 1777
072 G000100 0
072 H000100 0
072 I000100 1083
072 J000100 27
072 K000100 0
072 L000100 37
072 M000100 27
072 N000100 82
072 O000100 0
072 P000100 15
072 Q000100 0
072 R000100 25
072 S000100 21
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 12
072 X000100 3106
072 Y000100 0
072 Z000100 23244
072AA000100 0
072BB000100 6591
072CC010100 0
072CC020100 8251
072DD010100 23537
072DD020100 0
072EE000100 0
<PAGE> PAGE 6
073 A010100 0.7782
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 174
074 B000100 0
074 C000100 2824
074 D000100 381856
074 E000100 9747
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 3705
074 M000100 20
074 N000100 398326
074 O000100 39011
074 P000100 176
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 695
074 S000100 0
074 T000100 358444
074 U010100 30826
074 U020100 0
074 V010100 11.63
074 V020100 0.00
074 W000100 0.0000
074 X000100 11780
074 Y000100 134
075 A000100 0
075 B000100 355389
076 000100 0.00
024 000200 Y
025 A000201 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
025 B000201 13-2741729
025 C000201 D
025 D000201 2078
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 2001
028 A020200 90
<PAGE> PAGE 7
028 A030200 0
028 A040200 1245
028 B010200 2444
028 B020200 107
028 B030200 0
028 B040200 943
028 C010200 2868
028 C020200 99
028 C030200 0
028 C040200 1007
028 D010200 2547
028 D020200 102
028 D030200 0
028 D040200 844
028 E010200 2408
028 E020200 123
028 E030200 0
028 E040200 1381
028 F010200 4600
028 F020200 121
028 F030200 0
028 F040200 1628
028 G010200 16868
028 G020200 642
028 G030200 0
028 G040200 7048
028 H000200 0
062 A000200 Y
062 B000200 0.4
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 1.2
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 15.1
062 N000200 11.0
062 O000200 0.0
062 P000200 77.5
062 Q000200 0.0
062 R000200 4.2
063 A000200 0
063 B000200 0.0
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 N
<PAGE> PAGE 8
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 Y
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 59436
071 B000200 44587
071 C000200 26731
071 D000200 167
072 A000200 12
072 B000200 1933
072 C000200 221
072 D000200 0
072 E000200 0
072 F000200 157
072 G000200 0
072 H000200 0
072 I000200 103
072 J000200 7
072 K000200 0
072 L000200 11
072 M000200 3
<PAGE> PAGE 9
072 N000200 28
072 O000200 1
072 P000200 24
072 Q000200 0
072 R000200 17
072 S000200 2
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 357
072 Y000200 147
072 Z000200 1944
072AA000200 542
072BB000200 203
072CC010200 0
072CC020200 1143
072DD010200 1951
072DD020200 0
072EE000200 1161
073 A010200 0.8756
073 A020200 0.0000
073 B000200 0.5800
073 C000200 0.0000
074 A000200 236
074 B000200 0
074 C000200 619
074 D000200 39174
074 E000200 1405
074 F000200 202
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 460
074 K000200 0
074 L000200 523
074 M000200 13
074 N000200 42632
074 O000200 4664
074 P000200 5
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 132
074 S000200 0
074 T000200 37831
074 U010200 3043
074 U020200 0
074 V010200 12.43
074 V020200 0.00
<PAGE> PAGE 10
074 W000200 0.0000
074 X000200 1505
074 Y000200 165
075 A000200 0
075 B000200 28629
076 000200 0.00
SIGNATURE STEPHANIE PIERCE
TITLE VICE PRES/ASST.SECTY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000889169
<NAME> DREYFUS INVESTMENT GRADE BOND FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> DREYFUS INTERMEDIATE TERM INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 42155
<INVESTMENTS-AT-VALUE> 41400
<RECEIVABLES> 983
<ASSETS-OTHER> 249
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42632
<PAYABLE-FOR-SECURITIES> 4664
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 137
<TOTAL-LIABILITIES> 4801
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38209
<SHARES-COMMON-STOCK> 3043
<SHARES-COMMON-PRIOR> 1717
<ACCUMULATED-NII-CURRENT> 20
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 254
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (652)
<NET-ASSETS> 37831
<DIVIDEND-INCOME> 221
<INTEREST-INCOME> 1933
<OTHER-INCOME> 0
<EXPENSES-NET> 210
<NET-INVESTMENT-INCOME> 1944
<REALIZED-GAINS-CURRENT> 339
<APPREC-INCREASE-CURRENT> (1143)
<NET-CHANGE-FROM-OPS> 1140
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1951)
<DISTRIBUTIONS-OF-GAINS> (1161)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2186
<NUMBER-OF-SHARES-REDEEMED> (1017)
<SHARES-REINVESTED> 157
<NET-CHANGE-IN-ASSETS> 14855
<ACCUMULATED-NII-PRIOR> 27
<ACCUMULATED-GAINS-PRIOR> 1077
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 157
<INTEREST-EXPENSE> 24
<GROSS-EXPENSE> 357
<AVERAGE-NET-ASSETS> 28629
<PER-SHARE-NAV-BEGIN> 13.38
<PER-SHARE-NII> .87
<PER-SHARE-GAIN-APPREC> (.36)
<PER-SHARE-DIVIDEND> (.88)
<PER-SHARE-DISTRIBUTIONS> (.58)
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 12.43
<EXPENSE-RATIO> .007
[AVG-DEBT-OUTSTANDING] 405
[AVG-DEBT-PER-SHARE] .178
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000889169
<NAME> DREYFUS INVESTMENT GRADE BOND FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> DREYFUS SHORT TERM INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 403634
<INVESTMENTS-AT-VALUE> 394427
<RECEIVABLES> 3705
<ASSETS-OTHER> 194
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 398326
<PAYABLE-FOR-SECURITIES> 39011
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 871
<TOTAL-LIABILITIES> 39882
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 383511
<SHARES-COMMON-STOCK> 30826
<SHARES-COMMON-PRIOR> 29604
<ACCUMULATED-NII-CURRENT> 208
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (16187)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (9088)
<NET-ASSETS> 358444
<DIVIDEND-INCOME> 1142
<INTEREST-INCOME> 25208
<OTHER-INCOME> 0
<EXPENSES-NET> 3106
<NET-INVESTMENT-INCOME> 23244
<REALIZED-GAINS-CURRENT> (6591)
<APPREC-INCREASE-CURRENT> (8251)
<NET-CHANGE-FROM-OPS> 8402
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23537)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16683
<NUMBER-OF-SHARES-REDEEMED> (17063)
<SHARES-REINVESTED> 1602
<NET-CHANGE-IN-ASSETS> (282)
<ACCUMULATED-NII-PRIOR> 790
<ACCUMULATED-GAINS-PRIOR> (9884)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1777
<INTEREST-EXPENSE> 15
<GROSS-EXPENSE> 3106
<AVERAGE-NET-ASSETS> 355389
<PER-SHARE-NAV-BEGIN> 12.12
<PER-SHARE-NII> .76
<PER-SHARE-GAIN-APPREC> (.47)
<PER-SHARE-DIVIDEND> (.78)
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 11.63
<EXPENSE-RATIO> .009
[AVG-DEBT-OUTSTANDING] 281
[AVG-DEBT-PER-SHARE] .009
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Directors of
Dreyfus Investment Grade Bond Funds, Inc.
In planning and performing our audit of the financial statements of Dreyfus
Investment Grade Bond Funds, Inc. (comprised of Dreyfus Intermediate Term Income
Fund and Dreyfus Short Term Income Fund) for the year ended July 31, 1999, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on the internal
control.
The management of Dreyfus Investment Grade Bond Funds, Inc. is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the specific internal control components does not reduce to a relatively low
level the risk that errors or fraud in amounts that would be material in
relation to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal control and
its operation, including controls for safeguarding securities, that we consider
to be material weaknesses as defined above at July 31, 1999.
This report is intended solely for the information and use of the board of
directors and management of Dreyfus Investment Grade Bond Funds, Inc. and the
Securities and Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
ERNST & YOUNG LLP
September 7, 1999
