<PAGE> PAGE 1
000 A000000 02/28/98
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
020 A000001 BEAR, STEARNS & CO. INC.
020 B000001 13-3299429
020 C000001 60
020 A000002 ROBERT FLEMING INC.
020 B000002 13-3298866
020 C000002 26
020 A000003 OPPENHEIMER & CO., INC.
020 B000003 13-2798343
020 C000003 22
020 A000004 MORGAN STANLEY & CO. INCORPORATED
020 B000004 13-2655998
020 C000004 21
020 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000005 13-5674085
020 C000005 16
020 A000006 SANFORD C. BERSTEIN & CO., INC.
020 B000006 13-2625874
020 C000006 14
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000007 13-2741729
020 C000007 11
020 A000008 FURMAN SELZ INCORPORATED
020 B000008 13-2753731
020 C000008 11
020 A000009 MONTGOMERY SECURITIES
020 B000009 94-1701676
020 C000009 10
020 A000010 LEHMAN BROTHERS INC.
<PAGE> PAGE 2
020 B000010 13-2518466
020 C000010 9
021 000000 250
022 A000001 G.X. CLARKE & CO.
022 B000001 13-2969143
022 C000001 174586
022 D000001 153311
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002 74649
022 D000002 85799
022 A000003 GREENWICH PARTNERS, INC.
022 B000003 13-3176013
022 C000003 49773
022 D000003 22839
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 59598
022 D000004 10300
022 A000005 MORGAN STANLEY & CO. INCORPORATED
022 B000005 13-2655998
022 C000005 31476
022 D000005 21455
022 A000006 CS FIRST BOSTON CORPORATION
022 B000006 13-5659485
022 C000006 5199
022 D000006 22025
022 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000007 13-2741729
022 C000007 7136
022 D000007 12205
022 A000008 BEAR, STEARNS & CO. INC.
022 B000008 13-3299429
022 C000008 6913
022 D000008 12251
022 A000009 DEUTSCHE BANK SECURITIES CORPORATION
022 B000009 13-2730828
022 C000009 13102
022 D000009 3929
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010 7163
022 D000010 7502
023 C000000 465981
023 D000000 402933
024 000000 N
028 A010000 21479
028 A020000 2064
028 A030000 0
028 A040000 30061
028 B010000 16103
<PAGE> PAGE 3
028 B020000 37
028 B030000 0
028 B040000 6214
028 C010000 39668
028 C020000 0
028 C030000 0
028 C040000 36689
028 D010000 39998
028 D020000 43273
028 D030000 0
028 D040000 29240
028 E010000 10730
028 E020000 0
028 E030000 0
028 E040000 6534
028 F010000 9412
028 F020000 0
028 F030000 0
028 F040000 7556
028 G010000 137390
028 G020000 45374
028 G030000 0
028 G040000 116294
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
071 A000000 377521
071 B000000 332810
071 C000000 361468
071 D000000 92
072 A000000 6
072 B000000 4752
072 C000000 1631
072 D000000 0
072 E000000 0
<PAGE> PAGE 4
072 F000000 1082
072 G000000 0
072 H000000 0
072 I000000 516
072 J000000 26
072 K000000 0
072 L000000 25
072 M000000 13
072 N000000 39
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 11
072 S000000 10
072 T000000 0
072 U000000 1
072 V000000 0
072 W000000 2
072 X000000 1725
072 Y000000 0
072 Z000000 4658
072AA000000 21484
072BB000000 8516
072CC010000 9086
072CC020000 0
072DD010000 4453
072DD020000 0
072EE000000 41780
073 A010000 0.2300
073 A020000 0.0000
073 B000000 2.0870
073 C000000 0.0000
074 A000000 539
074 B000000 0
074 C000000 15755
074 D000000 171900
074 E000000 9107
074 F000000 232162
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 5794
074 K000000 0
074 L000000 2020
074 M000000 14
074 N000000 437291
074 O000000 42738
074 P000000 225
074 Q000000 0
074 R010000 0
074 R020000 0
<PAGE> PAGE 5
074 R030000 0
074 R040000 120
074 S000000 0
074 T000000 394208
074 U010000 23121
074 U020000 0
074 V010000 17.05
074 V020000 0.00
074 W000000 0.0000
074 X000000 5640
074 Y000000 4531
075 A000000 0
075 B000000 363785
076 000000 0.00
077 A000000 N
SIGNATURE MICHAEL S. PETRUCELLI
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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 385800
<INVESTMENTS-AT-VALUE> 428924
<RECEIVABLES> 7814
<ASSETS-OTHER> 553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 437291
<PAYABLE-FOR-SECURITIES> 42738
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 345
<TOTAL-LIABILITIES> 43083
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 345955
<SHARES-COMMON-STOCK> 23121
<SHARES-COMMON-PRIOR> 19137
<ACCUMULATED-NII-CURRENT> 2107
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3037
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 43109
<NET-ASSETS> 394208
<DIVIDEND-INCOME> 1631
<INTEREST-INCOME> 4752
<OTHER-INCOME> 0
<EXPENSES-NET> 1725
<NET-INVESTMENT-INCOME> 4658
<REALIZED-GAINS-CURRENT> 12968
<APPREC-INCREASE-CURRENT> 9086
<NET-CHANGE-FROM-OPS> 26712
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4453)
<DISTRIBUTIONS-OF-GAINS> (41780)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7662
<NUMBER-OF-SHARES-REDEEMED> (6467)
<SHARES-REINVESTED> 2789
<NET-CHANGE-IN-ASSETS> 46949
<ACCUMULATED-NII-PRIOR> 1902
<ACCUMULATED-GAINS-PRIOR> 31848
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1082
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1725
<AVERAGE-NET-ASSETS> 363785
<PER-SHARE-NAV-BEGIN> 18.15
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 1.00
<PER-SHARE-DIVIDEND> (0.23)
<PER-SHARE-DISTRIBUTIONS> (2.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.05
<EXPENSE-RATIO> 0.005
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
