<PAGE> PAGE 1
000 A000000 02/28/97
000 C000000 890341
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 DREYFUS BALANCED FUND, INC.
001 B000000 811-7068
001 C000000 2129226807
002 A000000 144 GLENN CURTISS BOULEVARD
002 B000000 UNIONDALE
002 C000000 NY
002 D010000 11556
002 D020000 0144
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
015 A000001 MELLON BANK, N.A.
015 B000001 C
015 C010001 PITTSBURGH
015 C020001 PA
015 C030001 15258
015 E030001 X
018 000000 Y
019 A000000 Y
019 B000000 152
019 C000000 DREYFUSFAM
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001 32
020 A000002 PAINEWEBBER INCORPORATED
020 B000002 13-2638166
020 C000002 28
020 A000003 CS FIRST BOSTON CORPORATION
020 B000003 13-5659485
020 C000003 27
020 A000004 LEHMAN BROTHERS INC.
020 B000004 13-2518466
020 C000004 21
020 A000005 BEAR, STEARNS & CO. INC.
020 B000005 13-3299429
020 C000005 19
020 A000006 OPPENHEIMER & CO., INC.
020 B000006 13-2798343
020 C000006 17
<PAGE> PAGE 2
020 A000007 LAZARD FRERES & CO. LLC
020 B000007 13-5545100
020 C000007 16
020 A000008 SANFORD C. BERNSTEIN & CO., INC.
020 B000008 13-2625874
020 C000008 16
020 A000009 GARANTIA
020 B000009 FOREIGN
020 C000009 15
020 A000010 THE CHICAGO CORPORATION
020 B000010 36-2549961
020 C000010 14
021 000000 405
022 A000001 AUBREY G. LANSTON & CO. INC.
022 B000001 13-5552129
022 C000001 331069
022 D000001 0
022 A000002 G.X. CLARKE & CO.
022 B000002 13-2969143
022 C000002 96245
022 D000002 84534
022 A000003 AUTRANET, INC.
022 B000003 13-2961507
022 C000003 41242
022 D000003 45664
022 A000004 MORGAN STANLEY & CO. INCORPORATED
022 B000004 13-2655998
022 C000004 36887
022 D000004 22957
022 A000005 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 B000005 13-3551367
022 C000005 22976
022 D000005 35884
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006 39445
022 D000006 10363
022 A000007 CHASE SECURITIES, INC.
022 B000007 13-3112953
022 C000007 17558
022 D000007 20537
022 A000008 SMITH BARNEY INC.
022 B000008 13-1912900
022 C000008 21021
022 D000008 10458
022 A000009 BEAR, STEARNS & CO. INC.
022 B000009 13-3299429
022 C000009 11087
022 D000009 13679
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000010 13-5674085
<PAGE> PAGE 3
022 C000010 10745
022 D000010 13833
023 C000000 687494
023 D000000 337846
024 000000 Y
025 A000001 CHASE SECURITIES, INC.
025 B000001 13-3112953
025 C000001 E
025 D000001 3454
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 6311
028 A020000 2167
028 A030000 0
028 A040000 12045
028 B010000 7833
028 B020000 0
028 B030000 0
028 B040000 11368
028 C010000 7312
028 C020000 0
028 C030000 0
028 C040000 6627
028 D010000 7145
028 D020000 12516
028 D030000 0
028 D040000 15942
028 E010000 9445
028 E020000 0
028 E030000 0
028 E040000 10335
028 F010000 14576
028 F020000 0
028 F030000 0
028 F040000 10559
028 G010000 52622
<PAGE> PAGE 4
028 G020000 14683
028 G030000 0
028 G040000 66876
028 H000000 0
062 A000000 N
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
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 Y
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
<PAGE> PAGE 5
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 361561
071 B000000 370246
071 C000000 278737
071 D000000 130
072 A000000 6
072 B000000 3931
072 C000000 1285
072 D000000 0
072 E000000 0
072 F000000 841
072 G000000 0
072 H000000 0
072 I000000 433
072 J000000 16
072 K000000 0
072 L000000 16
072 M000000 13
072 N000000 17
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 14
072 S000000 7
072 T000000 0
072 U000000 4
072 V000000 0
072 W000000 5
072 X000000 1366
072 Y000000 0
072 Z000000 3850
072AA000000 18654
<PAGE> PAGE 6
072BB000000 4426
072CC010000 24774
072CC020000 0
072DD010000 3864
072DD020000 0
072EE000000 11090
073 A010000 0.2210
073 A020000 0.0000
073 B000000 0.6360
073 C000000 0.0000
074 A000000 3263
074 B000000 0
074 C000000 5258
074 D000000 112902
074 E000000 3478
074 F000000 175371
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 59
074 K000000 0
074 L000000 1653
074 M000000 16
074 N000000 302000
074 O000000 3550
074 P000000 44
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 211
074 S000000 0
074 T000000 298195
074 U010000 17851
074 U020000 0
074 V010000 16.70
074 V020000 0.00
074 W000000 0.0000
074 X000000 4837
074 Y000000 0
075 A000000 0
075 B000000 282700
076 000000 0.00
077 A000000 N
078 000000 N
SIGNATURE DOUGLAS C. CONROY
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000890341
<NAME> DREYFUS BALANCED FUND, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 270543
<INVESTMENTS-AT-VALUE> 297009
<RECEIVABLES> 1653
<ASSETS-OTHER> 3338
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 302000
<PAYABLE-FOR-SECURITIES> 3550
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 255
<TOTAL-LIABILITIES> 3805
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 257532
<SHARES-COMMON-STOCK> 17851
<SHARES-COMMON-PRIOR> 17839
<ACCUMULATED-NII-CURRENT> 1480
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12716
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26467
<NET-ASSETS> 298195
<DIVIDEND-INCOME> 1285
<INTEREST-INCOME> 3931
<OTHER-INCOME> 0
<EXPENSES-NET> 1366
<NET-INVESTMENT-INCOME> 3850
<REALIZED-GAINS-CURRENT> 14228
<APPREC-INCREASE-CURRENT> 24774
<NET-CHANGE-FROM-OPS> 42852
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3864)
<DISTRIBUTIONS-OF-GAINS> (11090)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3257
<NUMBER-OF-SHARES-REDEEMED> (4177)
<SHARES-REINVESTED> 932
<NET-CHANGE-IN-ASSETS> 28327
<ACCUMULATED-NII-PRIOR> 1495
<ACCUMULATED-GAINS-PRIOR> 9578
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1366
<AVERAGE-NET-ASSETS> 282700
<PER-SHARE-NAV-BEGIN> 15.13
<PER-SHARE-NII> .22
<PER-SHARE-GAIN-APPREC> 2.21
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (.64)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.70
<EXPENSE-RATIO> .005
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>