FORM N-SAR
                                 ANNUAL REPORT
                      FOR REGISTERED INVESTMENT COMPANIES

Report for fiscal year ending: 12/31/01

Is this a transition report? N

Is this an amendment to a previous filing? N

1. A.Registrant Name:           Midwest Investors Program
   B. File Number:              811-1066
   C.Telephone Number:          713-260-9000

2. A.Street:                    5847 San Felipe, Suite 4100
   B.City:                      Houston
C. State:                       Texas
D. Zip:                         77057

3. Is this the first filing on this form by registrant? N

4. Is this the last filing on this form by registrant? N

5. Is Registrant a small business investment company (SBIC)? Y

6. Is Registrant a unit investment trust (UIT)? Y

7. A. Is Registrant a series or multiple portfolio company? N

   B. How many separate series or portfolios did Registrant have at the end
      of the period? N/A

     List  opposite the  appropriate  description  below the number of series of
whose portfolios are invested primarily (based upon a percentage of NAV) in each
type of security shown,  the aggregate total assets at market value as of a date
at of near the end of the  current  period of each such  group of series and the
total income  distributions made by each such group of series during the current
period (excluding distributions of realized gains, if any):




                                         Number of               Total Assets               Total Income
                                           Series                  ($000's                  Distributions
                                          Investing               omiitted)                ($000's omitted)

                                                                                         

I. Investment company equity securities       1                     2,410                       2.25

131. Total expenses incurred by all series of Registrant during the current
reporting period (000's omitted) $ .10