<PAGE> PAGE 1
000 B000000 11/30/97
000 C000000 0000092500
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CAPSTONE FIXED INCOME SERIES, INC.
001 B000000 811-1597
001 C000000 7132609053
002 A000000 5847 SAN FELIPE, SUITE 4100
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77057
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 CAPSTONE GOVERNMENT INCOME FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 CAPSTONE ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-17695
008 D01AA01 HOUSTON
008 D02AA01 TX
008 D03AA01 77002
010 A00AA01 CAPSTONE ASSET MANAGEMENT COMPANY
010 B00AA01 801-17695
010 C01AA01 HOUSTON
010 C02AA01 TX
010 C03AA01 77057
011 A00AA01 CAPSTONE ASSET PLANNING COMPANY
011 B00AA01 8-30994
011 C01AA01 HOUSTON
011 C02AA01 TX
011 C03AA01 77001
011 C04AA01 0849
<PAGE> PAGE 2
012 A00AA01 FPS SERVICES, INC
012 B00AA01 84-932
012 C01AA01 KING OF PRUSSIA
012 C02AA01 PA
012 C03AA01 19406
012 C04AA01 0903
013 A00AA01 BRIGGS, BUNTING & DOUGHERTY, LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 CAPSTONE ASSET PLANNING COMPANY
014 B00AA01 8-30994
015 A00AA01 FIFTH THIRD BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45263
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 8
019 C00AA00 CAPSFAMILY
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 FUJI SECURITIES
022 B000001 36-2880742
022 C000001 2457823
022 D000001 21993
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000002 13-5674085
022 C000002 625957
022 D000002 6124
022 A000003 FIRST BOSTON CORPORATION (THE)
022 B000003 13-5659485
022 C000003 3521516
022 D000003 0
022 A000004 MORGAN KEEGAN
022 C000004 39992
022 D000004 20497
022 A000005 MORGAN STANLEY
022 C000005 1747
022 D000005 0
<PAGE> PAGE 3
022 A000006 THE FIFTH THIRD BANK
022 B000006 31-0961761
022 C000006 89400
022 D000006 0
022 A000007 SMITH BARNEY
022 C000007 36983
022 D000007 55161
022 A000008 FIRST TENNESSEE
022 C000008 7996
022 D000008 0
022 A000009 GOLDMAN SACHS
022 C000009 10036
022 D000009 0
022 A000010 LYNCH, JONES & RYAN INC
022 C000010 31926
022 D000010 0
023 C000000 6823376
023 D000000 103775
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 1511
028 A02AA00 0
028 A03AA00 0
028 A04AA00 24940
028 B01AA00 40208
028 B02AA00 0
028 B03AA00 0
028 B04AA00 15833
028 C01AA00 4929
028 C02AA00 0
028 C03AA00 0
028 C04AA00 1518
028 D01AA00 21938
028 D02AA00 0
<PAGE> PAGE 4
028 D03AA00 0
028 D04AA00 3536
028 E01AA00 6097
028 E02AA00 0
028 E03AA00 0
028 E04AA00 9751
028 F01AA00 161
028 F02AA00 0
028 F03AA00 0
028 F04AA00 4201
028 G01AA00 74844
028 G02AA00 0
028 G03AA00 0
028 G04AA00 59779
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 125
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 250000
048 A02AA00 0.004
048 B01AA00 250000
048 B02AA00 0.036
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
<PAGE> PAGE 5
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 200
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 84.0
062 D00AA00 16.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
<PAGE> PAGE 6
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 266
063 B00AA00 0.0
064 A00AA00 N
064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 Y
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
<PAGE> PAGE 7
070 R02AA00 N
071 A00AA00 169919
071 B00AA00 176611
071 C00AA00 30158
071 D00AA00 563
072 A00AA00 12
072 B00AA00 3490
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 250
072 G00AA00 61
072 H00AA00 0
072 I00AA00 34
072 J00AA00 5
072 K00AA00 0
072 L00AA00 12
072 M00AA00 7
072 N00AA00 13
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 4
072 R00AA00 15
072 S00AA00 3
072 T00AA00 125
072 U00AA00 0
072 V00AA00 0
072 W00AA00 16
072 X00AA00 545
072 Y00AA00 0
072 Z00AA00 2946
072AA00AA00 45
072BB00AA00 225
072CC01AA00 0
072CC02AA00 3
072DD01AA00 254
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.1100
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 5
074 B00AA00 11590
074 C00AA00 39625
074 D00AA00 20967
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
<PAGE> PAGE 8
074 J00AA00 425
074 K00AA00 0
074 L00AA00 0
074 M00AA00 0
074 N00AA00 72612
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 6
074 R04AA00 162
074 S00AA00 0
074 T00AA00 72444
074 U01AA00 2903
074 U02AA00 0
074 V01AA00 24.96
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 1080
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 30158
076 00AA00 0.00
077 A000000 Y
077 B000000 Y
077 K000000 Y
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INS CO OF PITTSBURGH,PA
080 C00AA00 3500
081 A00AA00 Y
081 B00AA00 5
082 A00AA00 N
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
086 A01AA00 0
086 A02AA00 0
086 B01AA00 0
<PAGE> PAGE 9
086 B02AA00 0
086 C01AA00 0
086 C02AA00 0
086 D01AA00 0
086 D02AA00 0
086 E01AA00 0
086 E02AA00 0
086 F01AA00 0
086 F02AA00 0
SIGNATURE STEVE MCCABE
TITLE FILING AGENT
