<PAGE>      PAGE  1
000 B000000 05/31/99
000 C000000 887428
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SMITH BARNEY ADJUSTABLE RATE GOV'T INC FUND
001 B000000 811-6663
001 C000000 2128166556
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
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 A000001 SSBC FUND MANAGEMENT INC.
008 B000001 A
008 C000001 801-000000
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10013
008 A000002 BLACKROCK FINANCIAL MANAGEMENT INC.
008 B000002 S
008 C000002 801-000000
008 D010002 NEW YORK
008 D020002 NY
008 D030002 10154
010 A000001 SSBC FUND MANAGEMENT INC.
010 B000001 801-14437
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10013
011 A000001 SMITH BARNEY INC.
011 B000001 8-81777
<PAGE>      PAGE  2
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10013
012 A000001 FIRST DATA INVESTOR SERVICES GROUP
012 B000001 84-0000000
012 C010001 BOSTON
012 C020001 MA
012 C030001 02205
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
015 C030001 19103
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000  167
019 C000000 BARNEY0000
020 A000001 SALOMON SMITH BARNEY
020 B000001 11-2418191
020 C000001      6
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        6
022 A000001 AUBREY LANSTON
022 B000001 N/A
022 C000001    954556
022 D000001      8667
022 A000002 PAINE WEBBER INC.
022 B000002 13-2638166
022 C000002    555754
022 D000002      7492
022 A000003 PRUDENTIAL SECURITIES
022 B000003 22-2347336
022 C000003    268226
022 D000003     13647
022 A000004 COMMERZBANK CAPITAL MARKETS
022 B000004 N/A
022 C000004     97987
022 D000004     26924
<PAGE>      PAGE  3
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005     40111
022 D000005     52369
022 A000006 CS FIRST BOSTON
022 B000006 13-5659485
022 C000006     46549
022 D000006      8845
022 A000007 LEHMSN BROTHERS INC.
022 B000007 13-2518466
022 C000007     30028
022 D000007     19556
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008     16782
022 D000008     11490
022 A000009 MORGAN STANLEY
022 B000009 13-2655998
022 C000009      5919
022 D000009     18634
022 A000010 GREENWICH CAPITAL MARKETS, INC.
022 B000010 N/A
022 C000010     10240
022 D000010      6212
023 C000000    2026152
023 D000000     173836
024  000000 N
025 D000001       0
025 D000002       0
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
028 A010000     37475
028 A020000       454
028 A030000         0
028 A040000     43951
028 B010000      7874
028 B020000         0
<PAGE>      PAGE  4
028 B030000         0
028 B040000     36807
028 C010000     53225
028 C020000       419
028 C030000         0
028 C040000     43087
028 D010000     53563
028 D020000       843
028 D030000         0
028 D040000     60895
028 E010000     47505
028 E020000         0
028 E030000         0
028 E040000     44894
028 F010000     64268
028 F020000       881
028 F030000         0
028 F040000     52425
028 G010000    263910
028 G020000      2597
028 G030000         0
028 G040000    282059
028 H000000         0
029  000000 N
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
034  000000 Y
035  000000      4
036 A000000 Y
036 B000000      0
037  000000 N
038  000000      0
039  000000 Y
040  000000 Y
041  000000 Y
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000 100
043  000000    794
044  000000      0
045  000000 Y
<PAGE>      PAGE  5
046  000000 N
047  000000 Y
048  000000  0.400
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
062 A000000 Y
062 B000000   0.0
062 C000000  13.7
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   6.0
062 N000000  37.7
062 O000000   0.0
062 P000000   0.0
062 Q000000  42.6
062 R000000   0.0
063 A000000   0
063 B000000 20.0
064 A000000 N
064 B000000 N
066 A000000 N
067  000000 N
068 A000000 N
068 B000000 N
<PAGE>      PAGE  6
069  000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 Y
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000    251118
071 B000000    213340
071 C000000    138028
071 D000000  155
072 A000000 12
072 B000000     6808
072 C000000        0
072 D000000        0
072 E000000        0
072 F000000      445
072 G000000      223
072 H000000        0
072 I000000       46
072 J000000       10
<PAGE>      PAGE  7
072 K000000        0
072 L000000        0
072 M000000       18
072 N000000       78
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000       40
072 S000000       16
072 T000000      794
072 U000000        0
072 V000000        0
072 W000000        0
072 X000000     1670
072 Y000000        0
072 Z000000     5138
072AA000000      430
072BB000000        0
072CC010000        0
072CC020000      904
072DD010000     4984
072DD020000      533
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0300
074 A000000       16
074 B000000        0
074 C000000    18868
074 D000000   119013
074 E000000        0
074 F000000        0
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000        0
074 K000000        0
074 L000000     7615
074 M000000        0
074 N000000   145512
074 O000000     3575
074 P000000       52
074 Q000000        0
074 R010000     8955
074 R020000        0
074 R030000        0
074 R040000     8039
074 S000000        0
074 T000000   124891
074 U010000    10018
<PAGE>      PAGE  8
074 U020000     2779
074 V010000     0.00
074 V020000     0.00
074 W000000   0.0000
074 X000000     3630
074 Y000000    32837
075 A000000        0
075 B000000   112287
076  000000     0.00
077 A000000 N
078  000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000   115000
081 A000000 Y
081 B000000 167
082 A000000 N
082 B000000        0
083 A000000 Y
083 B000000     1062
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
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
SIGNATURE   PAUL BROOK
TITLE       CONTROLLER