<PAGE> PAGE 1
000 B000000 09/30/1999
000 C000000 0000093284
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 MSDW INCOME SECURITIES INC.
001 B000000 811-2349
001 C000000 2123921600
002 A000000 2 WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
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004 000000 N
005 000000 N
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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 A000001 MORGAN STANLEY DEAN WITTER ADVISORS INC.
008 B000001 A
008 C000001 801-42061
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10048
012 A000001 MORGAN STANLEY DEAN WITTER TRUST FSB
012 B000001 84-1785
012 C010001 JERSEY CITY
012 C020001 NJ
012 C030001 07311
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
014 A000001 DEAN WITTER REYNOLDS INC.
014 B000001 8-14172
014 A000002 MORGAN STANLEY & CO. INCORPORATED
014 B000002 8-15869
<PAGE> PAGE 2
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 127
019 C000000 MSDW-FUNDS
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020 C000008 0
020 C000009 0
020 C000010 0
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022 A000001 BANK OF NEW YORK (THE)
022 B000001 13-5160382
022 C000001 278275
022 D000001 0
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002 22085
022 D000002 21560
022 A000003 SALOMON BROTHERS INC.
022 B000003 13-3082694
022 C000003 19776
022 D000003 13764
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004 9804
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022 B000005 13-2518466
022 C000005 10291
022 D000005 6323
022 A000006 BANC OF AMERICA SECURITIES LLC.
022 B000006 56-2058405
022 C000006 9021
022 D000006 6334
022 A000007 BARCLAYS CAPITAL GROUP
022 B000007 13-3551367
022 C000007 0
022 D000007 5034
022 A000008 MORGAN (J.P.) SECURITIES INC.
022 B000008 13-3224016
<PAGE> PAGE 3
022 C000008 1979
022 D000008 3045
022 A000009 DONALDSON, LUFKIN & JENRETTE SEC.
022 B000009 13-2741729
022 C000009 2210
022 D000009 2335
022 A000010 BEAR, STEARNS & CO., INC.
022 B000010 13-3299429
022 C000010 2716
022 D000010 0
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023 D000000 81983
024 000000 Y
025 A000001 BANK OF NEW YORK (THE)
025 B000001 13-5160382
025 C000001 D
025 D000001 1523
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025 D000003 0
025 D000004 0
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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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SIGNATURE BARRY FINK
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW INCOME SECURITIES INC.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 209,604,110
<INVESTMENTS-AT-VALUE> 202,536,815
<RECEIVABLES> 4,518,591
<ASSETS-OTHER> 5,698
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 207,061,104
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (279,298)
<TOTAL-LIABILITIES> (279,298)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 233,206,106
<SHARES-COMMON-STOCK> 11,809,418
<SHARES-COMMON-PRIOR> 11,850,218
<ACCUMULATED-NII-CURRENT> 1,166,449
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (20,523,454)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (7,067,295)
<NET-ASSETS> 206,781,806
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,305,220
<OTHER-INCOME> 0
<EXPENSES-NET> (1,409,642)
<NET-INVESTMENT-INCOME> 15,895,578
<REALIZED-GAINS-CURRENT> 456,987
<APPREC-INCREASE-CURRENT> (18,837,392)
<NET-CHANGE-FROM-OPS> (2,484,827)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,632,701)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (40,800)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (18,800,828)
<ACCUMULATED-NII-PRIOR> 903,572
<ACCUMULATED-GAINS-PRIOR> (20,980,438)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,078,790)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,409,642)
<AVERAGE-NET-ASSETS> 206,866,058
<PER-SHARE-NAV-BEGIN> 19.04
<PER-SHARE-NII> 1.34
<PER-SHARE-GAIN-APPREC> (1.55)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.32)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.51
<EXPENSE-RATIO> 0.66
</TABLE>
EXHIBIT 77(O) MORGAN STANLEY DEAN WITTER INCOME SECURITIES
INC. 10f-3 transactions for the period April 1, 1999 -
October 20, 1999 S TOTAL ISSUED/ DATE PRICE SHARES % of
PRINCIPAL PURCHASED SECURITY PURCHASED SHARE PURCHASED
Assets AMOUNT BY FUND BROKER(S) Sanwa Finance Aruba 07/15/99
$99.943 1,000 0.472% $1,500,000.00 0.067% Merrill Lynch
To the Shareholders and Board of Directors of
XYZ Fund
(2)
Report of Independent Accountants
To the Shareholders and Trustees of
Morgan Stanley Dean Witter Income Securities Inc.
In planning and performing our audit of the financial statements
of Morgan Stanley Dean Witter Income Securities Inc. (the
"Fund") for the year ended September 30, 1999, we considered its
internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those
controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters
involving internal control and its operation, including controls
for safeguarding securities, that we consider to be material
weaknesses as defined above as of September 30, 1999.
This report is intended solely for the information and use of
management and the Trustees of the Fund and the Securities and
Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
New York, New York
November 10, 1999
Fund: Morgan Stanley Dean Witter Income Securities Inc.
Section 16(a) Beneficial Ownership Reporting Compliance
The following persons are "reporting persons" under Section
16 of the Securities Exchange Act of 1934 and had not
previously filed an "Initial Statement of Beneficial
Ownership of Securities" on Form 3:
Mitchell M. Merin
Ronald E. Robison
Joseph J. McAlinden
Edwin J. Garn
Manuel H. Johnson
Michael E. Nugent
Wayne E. Hedien
Barry Fink
Thomas F. Caloia
Rochelle G. Siegel
Morgan Stanley Dean Witter Advisors Inc.
None of the above reporting persons has ever held any shares
of the Fund.
