STRONG CONSERVATIVE EQUITY FUNDS INC
NSAR-B, 1997-12-23
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<PAGE>      PAGE  1
000 B000000 10/31/97
000 C000000 901539
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 STRONG CONSERVATIVE EQUITY FUNDS, INC.
001 B000000 811-7656
001 C000000 4145777365
002 A000000 P.O.BOX 2936
002 B000000 MILWAUKEE
002 C000000 WI
002 D010000 53201
002 D020000 2936
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 STRONG AMERICAN UTILITIES FUND
007 C030100 N
007 C010200  2
007 C020200 STRONG EQUITY INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 STRONG GROWTH & INCOME FUND
007 C030300 N
007 C010400  4
007 C020400 STRONG BLUE CHIP 100 FUND
007 C030400 N
007 C010500  5
007 C020500 STRONG LIMITED RESOURCES FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 STRONG CAPITAL MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-10724
008 D01AA01 MILWAUKEE
008 D02AA01 WI
008 D03AA01 53201
008 D04AA01 2936
008 A00AA02 W.H. REAVES & COMPANY, INC.
<PAGE>      PAGE  2
008 B00AA02 S
008 C00AA02 801-13457
008 D01AA02 JERSEY CITY
008 D02AA02 NJ
008 D03AA02 07302
008 A00AA03 SCARBOROUGH INVESTMENT ADVISORS LLC
008 B00AA03 S
008 C00AA03 801-10724
008 D01AA03 NEW YORK
008 D02AA03 NY
008 D03AA03 10022
011 A00AA01 STRONG FUNDS DISTRIBUTORS, INC.
011 B00AA01 8-10724
011 C01AA01 MILWAUKEE
011 C02AA01 WI
011 C03AA01 53201
011 C04AA01 2936
012 A00AA01 STRONG CAPITAL MANAGEMENT, INC.
012 B00AA01 84-1599
012 C01AA01 MILWAUKEE
012 C02AA01 WI
012 C03AA01 53201
012 C04AA01 2936
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 MILWAUKEE
013 B02AA01 WI
013 B03AA01 53202
014 A00AA01 STRONG FUNDS DISTRIBUTORS, INC.
014 B00AA01 8-32608
014 A00AA02 W.H. REAVES & COMPANY, INC.
014 B00AA02 8-22142
015 A00AA01 FIRSTAR TRUST COMPANY
015 B00AA01 C
015 C01AA01 MILWAUKEE
015 C02AA01 WI
015 C03AA01 53202
015 E01AA01 X
018  00AA00 Y
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020 A000003 GOLDMAN, SACHS & COMPANY
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020 A000004 INSTINET CORPORATION
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020 A000005 ALEX BROWN & SONS, INC.
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<PAGE>      PAGE  3
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022 A000006 THE CHICAGO CORPORATION
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022 A000007 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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025 A000202 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
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070 P020400 N
070 Q010400 N
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070 R010400 Y
070 R020400 N
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<PAGE>      PAGE  19
071 D000400   22
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072 Y000400       12
072 Z000400        6
072AA000400       13
072BB000400       44
072CC010400        0
072CC020400       33
072DD010400        0
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073 A010400   0.0000
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<PAGE>      PAGE  20
074 N000400     5433
074 O000400      278
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074 W000400   0.0000
074 X000400      965
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076  000400     0.00
024  000500 N
028 A010500         0
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028 G010500      5885
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045  000500 Y
<PAGE>      PAGE  21
046  000500 N
047  000500 Y
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058 A000500 N
059  000500 Y
060 A000500 Y
060 B000500 Y
061  000500      250
070 A010500 Y
070 A020500 Y
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070 C010500 Y
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070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
<PAGE>      PAGE  22
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
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<PAGE>      PAGE  23
072EE000500        0
073 A010500   0.0000
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074 D000500        0
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074 G000500        0
074 H000500        0
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074 L000500        4
074 M000500        3
074 N000500     5352
074 O000500        0
074 P000500        3
074 Q000500        0
074 R010500        0
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074 S000500        0
074 T000500     5345
074 U010500      562
074 U020500        0
074 V010500     9.51
074 V020500     0.00
074 W000500   0.0000
074 X000500      194
074 Y000500        0
075 A000500        0
075 B000500     2923
076  000500     0.00
SIGNATURE   JOHN FLANAGAN                                
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE>		6	
<CIK>		0000901539	
<NAME>		"Strong Conservative Equity Funds, Inc."	
<SERIES>			
  <NUMBER>		1	
  <NAME>		Strong American Utilities Fund	
<MULTIPLIER>		1000	
       			
<S>		<C>	
<PERIOD-TYPE>		YEAR
<FISCAL-YEAR-END>		Oct-31-1997	
<PERIOD-START>		Nov-01-1996	
<PERIOD-END>		Oct-31-1997	
<INVESTMENTS-AT-COST>		116251	
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</TABLE>

<TABLE> <S> <C>

<ARTICLE>		6
<CIK>		0000901539
<NAME>		"Strong Conservative Equity Funds, Inc."
<SERIES>		
   <NUMBER>		2
   <NAME>		Strong Equity Income Fund
<MULTIPLIER>		1,000
       		
<S>		<C>       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE>		6	
<CIK>		0000901539
<NAME>		"Conservative Equity Funds, Inc."	
<SERIES>			
<NUMBER>		3	
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<S>		<C>	
<PERIOD-TYPE>		YEAR
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</TABLE>

<TABLE> <S> <C>

<ARTICLE>		6	
<CIK>		0000901539	
<NAME>		"Strong Conservative Equity Funds, Inc."	
<MULTIPLIER>		1000	
<SERIES>			
<NUMBER>		4	
<NAME>		Strong Blue Chip 100 Fund	
       			
<S>		<C>	
<PERIOD-TYPE>		4-MOS	
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<PERIOD-START>		Jul-01-1997	
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<INVESTMENTS-AT-VALUE>		5341	
<RECEIVABLES>		6	
<ASSETS-OTHER>		2
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<TOTAL-ASSETS>		5433
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<OVERDISTRIBUTION-GAINS>		(31)
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<REALIZED-GAINS-CURRENT>		(31)
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<ACCUMULATED-NII-PRIOR>		0
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<OVERDIST-NET-GAINS-PRIOR>		0 
<GROSS-ADVISORY-FEES>		9
<INTEREST-EXPENSE>		0
<GROSS-EXPENSE>		24
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<PER-SHARE-GAIN-APPREC>		0.38 
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<EXPENSE-RATIO>		1.0
<AVG-DEBT-OUTSTANDING>		0
<AVG-DEBT-PER-SHARE>		0
        		
			


</TABLE>

<TABLE> <S> <C>

<ARTICLE>		6	
<CIK>		0000901539	
<NAME>		"Strong Conservative Equity Funds, Inc."	
<SERIES>			
<NUMBER>		5	
<NAME>		Strong Limited Resources Fund	
<MULTIPLIER>		1000	
       			
<S>		<C>	
<PERIOD-TYPE>		1-MO
<FISCAL-YEAR-END>		OCT-31-1997	
<PERIOD-START>		OCT-01-1997	
<PERIOD-END>		OCT-31-1997	
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<INVESTMENTS-AT-VALUE>		5345	
<RECEIVABLES>		4	
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<OTHER-ITEMS-ASSETS>		0
<TOTAL-ASSETS>		5352
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<OVERDISTRIBUTION-GAINS>		0 
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<APPREC-INCREASE-CURRENT>		(276)
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<AVG-DEBT-PER-SHARE>		0
        		
			


</TABLE>


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