FPA NEW INCOME INC
NSAR-A, 1998-05-29
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<PAGE>      PAGE  1
000 A000000 03/31/98
000 C000000 0000099203
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 FPA NEW INCOME, INC.
001 B000000 811-1735
001 C000000 3109965429
002 A000000 11400 WEST OLYMPIC BOULEVARD,SUITE 1200
002 B000000 LOS ANGELES
002 C000000 CA
002 D010000 90064
002 D020000 1507
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007 C011000 10
008 A000001 FIRST PACIFIC ADVISORS, INC
008 B000001 A
008 C000001 801-39512
008 D010001 LOS ANGELES
008 D020001 CA
008 D030001 90064
008 D040001 1507
011 A000001 FPA FUND DISTRIBUTORS, INC
011 B000001 8-43830
011 C010001 LOS ANGELES
011 C020001 CA
011 C030001 90064
011 C040001 1507
012 A000001 BOSTON FINANCIAL DATA SERVICES, INC
012 B000001 84-00896
012 C010001 BOSTON
012 C020001 MA
012 C030001 02266
<PAGE>      PAGE  2
012 C040001 8500
013 A000001 ERNST & YOUNG LLP
013 B010001 LOS ANGELES
013 B020001 CA
013 B030001 90071
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
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015 C020001 MA
015 C030001 02105
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022 A000001 GENERAL ELECTRIC CAPITAL SERVICES, INC.
022 B000001 06-1109503
022 C000001    449809
022 D000001     16770
022 A000002 AMERICAN EXPRESS CREDIT CORPORATION
022 B000002 11-1988350
022 C000002    259512
022 D000002      8442
022 A000003 AMERICAN GENERAL SECURITIES INCORPORATED
022 B000003 76-0050868
022 C000003    185759
022 D000003      6089
022 A000004 FORD FINANCIAL SERVICES, INC.
022 B000004 38-1612444
022 C000004    184184
022 D000004         0
022 A000005 EXXON ASSET MANAGEMENT COMPANY
022 B000005 06-1225787
022 C000005     65312
022 D000005         0
022 A000006 BEAR, STEARNS & CO., INC.
022 B000006 13-3299429
022 C000006     61326
022 D000006         0
022 A000007 GOLDEN GATE SECURITIES
<PAGE>      PAGE  3
022 B000007 94-3130995
022 C000007     45916
022 D000007         0
022 A000008 MORGAN STANLEY & CO. INCORPORATED
022 B000008 13-2655998
022 C000008     23960
022 D000008         0
022 A000009 LEHMAN BROTHERS, INC.
022 B000009 13-2518466
022 C000009     16551
022 D000009         0
022 A000010 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
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<PAGE>      PAGE  7
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SIGNATURE   J. RICHARD ATWOOD                            
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                      588,911,093
<INVESTMENTS-AT-VALUE>                     604,941,033
<RECEIVABLES>                                8,372,626
<ASSETS-OTHER>                                     807
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             613,314,466
<PAYABLE-FOR-SECURITIES>                     9,939,819
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,473,173
<TOTAL-LIABILITIES>                         11,412,992
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   576,013,409
<SHARES-COMMON-STOCK>                       53,431,056
<SHARES-COMMON-PRIOR>                       47,126,444
<ACCUMULATED-NII-CURRENT>                    8,998,390
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        859,735
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    16,029,940
<NET-ASSETS>                               601,901,474
<DIVIDEND-INCOME>                              215,875
<INTEREST-INCOME>                           18,613,427
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,719,326
<NET-INVESTMENT-INCOME>                     17,109,976
<REALIZED-GAINS-CURRENT>                     1,017,468
<APPREC-INCREASE-CURRENT>                    1,536,544
<NET-CHANGE-FROM-OPS>                       19,663,988
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   16,408,903
<DISTRIBUTIONS-OF-GAINS>                     1,183,945
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     10,891,927
<NUMBER-OF-SHARES-REDEEMED>                  5,953,316
<SHARES-REINVESTED>                          1,366,001
<NET-CHANGE-IN-ASSETS>                      72,327,657
<ACCUMULATED-NII-PRIOR>                      8,297,317
<ACCUMULATED-GAINS-PRIOR>                    1,026,212
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,408,088
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,719,326
<AVERAGE-NET-ASSETS>                       570,596,241
<PER-SHARE-NAV-BEGIN>                            11.24
<PER-SHARE-NII>                                   0.33
<PER-SHARE-GAIN-APPREC>                           0.06
<PER-SHARE-DIVIDEND>                              0.34
<PER-SHARE-DISTRIBUTIONS>                         0.02
<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   0.60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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