FEDERATED TOTAL RETURN SERIES INC
NSAR-A, 1996-05-30
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<PAGE>      PAGE  1
000 A000000 03/31/96
000 C000000 0000912763
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FEDERATED TOTAL RETURN SERIES, INC.
001 B000000 811-7115
001 C000000 4122881581
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 FEDERATED GOVERNMENT TOTAL RETURN FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C020400 FEDERATED SHORT-TERM TOTAL RETURN
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FEDERATED MANAGEMENT
008 B00AA01 A
008 C00AA01 801-34610
008 D01AA01 PITTSBURGH
008 D02AA01 PA
008 D03AA01 15222
008 D04AA01 3779
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP
011 B00AA01 8-15561
<PAGE>      PAGE  2
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02266
012 C04AA01 8600
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15219
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022 A000001 MORGAN GUARANTY TRUST CO. OF NEW YORK
022 B000001 13-5123346
022 C000001     36015
022 D000001         0
022 A000002 B.T. SECURITIES CORP.
022 B000002 13-4941247
022 C000002     10574
022 D000002         0
022 A000003 PAINEWEBBER, INC.
022 B000003 13-2638166
022 C000003      6267
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022 A000004 CHASE MANHATTAN BANK, N.A.
022 B000004 13-2633612
022 C000004      2998
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022 A000005 LEHMAN BROTHERS, INC.
022 B000005 13-2518466
022 C000005      2878
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022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006      1076
<PAGE>      PAGE  3
022 D000006       506
022 A000007 MORGAN STANLEY & CO., INC.
022 B000007 13-2655998
022 C000007         0
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022 A000008 GOV'T INCOME SECURITIES, INC.
022 B000008 25-1414481
022 C000008      1244
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022 A000009 CHEMICAL SECURITIES, INC.
022 B000009 13-4994650
022 C000009         0
022 D000009       755
022 A000010 BARCLAYS BANK PLC
022 B000010 13-4942190
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<PAGE>      PAGE  6
069  00AA00 N
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015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
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015 C030101 02266
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015 A000102 PNC BANK, NA
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015 B000103 S
015 C010103 CHARLOTTE
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<PAGE>      PAGE  7
015 E010108 X
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070 D020100 N
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070 F020100 N
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070 I020100 N
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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015 A000401 STATE STREET BANK AND TRUST COMPANY
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02266
015 C040401 8600
015 E010401 X
015 A000402 BANK OF NEW YORK
015 B000402 S
015 C010402 NEW YORK
015 C020402 NY
015 C030402 10006
015 E010402 X
015 A000403 BANKERS TRUST CO.
015 B000403 S
015 C010403 NEW YORK
015 C020403 NY
015 C030403 10015
015 E010403 X
015 A000404 CHEMICAL BANK & TRUST CO.
015 B000404 S
015 C010404 NEW YORK
<PAGE>      PAGE  10
015 C020404 NY
015 C030404 10006
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015 A000405 PNC BANK, NA
015 B000405 S
015 C010405 PITTSBURGH
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015 C010406 CHARLOTTE
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015 C030406 28255
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015 A000407 NATIONSBANC CAPITAL MARKETS, INC.
015 B000407 S
015 C010407 RICHMOND
015 C020407 VA
015 C030407 23261
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015 A000408 MORGAN GUARANTY BANK & TRUST CO.
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<PAGE>      PAGE  11
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070 E020400 N
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070 F020400 N
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070 H010400 N
070 H020400 N
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070 J020400 N
070 K010400 N
070 K020400 N
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SIGNATURE   S. ELLIOTT COHEN                             
TITLE       ASST.GEN. COUNSEL   
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   01                                             
     <NAME>                     Federated Total Return Series, Inc.            
                                Federated Government Total Return Fund         
                                                                               
<PERIOD-TYPE>                   6-Mos                                          
<FISCAL-YEAR-END>               Sep-30-1996                                    
<PERIOD-END>                    Mar-31-1996                                    
<INVESTMENTS-AT-COST>           5,151,620                                      
<INVESTMENTS-AT-VALUE>          5,034,349                                      
<RECEIVABLES>                   52,239                                         
<ASSETS-OTHER>                  1,866                                          
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  5,088,454                                      
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       31,841                                         
<TOTAL-LIABILITIES>             31,841                                         
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        5,100,209                                      
<SHARES-COMMON-STOCK>           510,021                                        
<SHARES-COMMON-PRIOR>           10,021                                         
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         73,675                                         
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        (117,271)                                      
<NET-ASSETS>                    5,056,613                                      
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               168,774                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  0                                              
<NET-INVESTMENT-INCOME>         168,774                                        
<REALIZED-GAINS-CURRENT>        73,675                                         
<APPREC-INCREASE-CURRENT>       (117,271)                                      
<NET-CHANGE-FROM-OPS>           125,178                                        
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       168,774                                        
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         500,000                                        
<NUMBER-OF-SHARES-REDEEMED>     0                                              
<SHARES-REINVESTED>             0                                              
<NET-CHANGE-IN-ASSETS>          5,000,003                                      
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       0                                              
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           10,227                                         
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 147,627                                        
<AVERAGE-NET-ASSETS>            4,444,199                                      
<PER-SHARE-NAV-BEGIN>           10.000                                         
<PER-SHARE-NII>                 0.340                                          
<PER-SHARE-GAIN-APPREC>         (0.090)                                        
<PER-SHARE-DIVIDEND>            0.340                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             9.910                                          
<EXPENSE-RATIO>                 0.00                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>

<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   02                                             
     <NAME>                     Federated Total Return Series, Inc.            
                                Federated Short-Term Total Return Fund         
                                                                               
<PERIOD-TYPE>                   6-MOS                                          
<FISCAL-YEAR-END>               Sep-30-1996                                    
<PERIOD-END>                    Mar-31-1996                                    
<INVESTMENTS-AT-COST>           4,973,017                                      
<INVESTMENTS-AT-VALUE>          4,907,069                                      
<RECEIVABLES>                   89,886                                         
<ASSETS-OTHER>                  0                                              
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  4,996,955                                      
<PAYABLE-FOR-SECURITIES>        0                                              
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       29,787                                         
<TOTAL-LIABILITIES>             29,787                                         
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        5,000,484                                      
<SHARES-COMMON-STOCK>           500,048                                        
<SHARES-COMMON-PRIOR>           37                                             
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          0                                              
<ACCUMULATED-NET-GAINS>         32,632                                         
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        (65,948)                                       
<NET-ASSETS>                    4,967,168                                      
<DIVIDEND-INCOME>               0                                              
<INTEREST-INCOME>               157,809                                        
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  0                                              
<NET-INVESTMENT-INCOME>         157,809                                        
<REALIZED-GAINS-CURRENT>        32,632                                         
<APPREC-INCREASE-CURRENT>       (65,948)                                       
<NET-CHANGE-FROM-OPS>           124,493                                        
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       157,809                                        
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         500,000                                        
<NUMBER-OF-SHARES-REDEEMED>     0                                              
<SHARES-REINVESTED>             12                                             
<NET-CHANGE-IN-ASSETS>          5,000,111                                      
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       0                                              
<OVERDISTRIB-NII-PRIOR>         0                                              
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           9,921                                          
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 138,064                                        
<AVERAGE-NET-ASSETS>            4,308,902                                      
<PER-SHARE-NAV-BEGIN>           10.000                                         
<PER-SHARE-NII>                 0.320                                          
<PER-SHARE-GAIN-APPREC>         (0.070)                                        
<PER-SHARE-DIVIDEND>            0.320                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             9.930                                          
<EXPENSE-RATIO>                 0.00                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>


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