Donnell type equilibrium and stability equations are derived for stiffened thin conical shells. The stiffeners are considered closely spaced and are therefore assumed to be ''distributed'' over the whole surface of the shell. In the proposed theory the stiffeners and their spacing may vary in any prescribed manner, but here only equally spaced stiffeners are dealt with. The force - and moment - strain relations of the combined stiffener-sheet cross- section are determined by the assumption of identical normal strains at the contact surface of stiffener and sheet. The stability equations are solved for general instability under hydrostatic pressure by the method of virtual displacements. The solution used earlier for unstiffened conical shells, which satisfies some of the boundary conditions of simple supports only approximately, is again applied here. The effect of this incomplete compliance with boundary conditions is shown to be negligible by consideration of ''boundary work''. The solution proposed for stiffened conical shells involves the concepts of ''correcting coefficients'' and minimization of corresponding ''error loads''. Typical examples are analysed and the effect of eccentricity of stiffeners is investigated. Simplified approximate formulae for the critical pressure of frame-stiffened conical shells are also proposed.