DEM INC
NSAR-B, 1996-02-29
Previous: RCM EQUITY FUNDS INC, NSAR-B, 1996-02-29
Next: U S SMALL CO PORTFOLIO /NEW/, POS AMI, 1996-02-29



<PAGE>      PAGE  1
000 B000000 12/31/95
000 C000000 0001002659
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 DEM,INC.
001 B000000 811-9118
001 C000000 4106259656
002 A000000 401 E PRATT STREET, 28TH FLOOR
002 B000000 BALTIMORE
002 C000000 M
002 D010000 21202
003  000000 Y
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 CHAPMAN CAPITAL MANAGEMENT, INC.
008 B000001 A
008 C000001 801-32849
008 D010001 BALTIMORE
008 D020001 MD
008 D030001 21202
010 A000001 CHAPMAN CAPITAL MANAGEMENT, INC.
010 B000001 801-32849
010 C010001 BALTIMORE
010 C020001 MD
010 C030001 21202
011 A000001 THE CHAPMAN COMPANY
011 B000001 8-37188
011 C010001 BALTIMORE
011 C020001 MD
011 C030001 21202
012 A000001 FUND PLAN SERVICES, INC.
012 B000001 84-00932
012 C010001 CONSHOHOCKEN
<PAGE>      PAGE  2
012 C020001 PA
012 C030001 19428
013 A000001 ARTHUR ANDERSEN, LLP
013 B010001 BALTIMORE
013 B020001 MD
013 B030001 21202
014 A000001 THE CHAPMAN CO.
014 B000001 8-37188
015 A000001 UNITED MISSOURI BANK
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 C040001 6226
015 E010001 X
018  000000 Y
019 A000000 N
019 B000000    0
020 C000001      0
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        0
022 C000001         0
022 D000001         0
022 C000002         0
022 D000002         0
022 C000003         0
022 D000003         0
022 C000004         0
022 D000004         0
022 C000005         0
022 D000005         0
022 C000006         0
022 D000006         0
022 C000007         0
022 D000007         0
022 C000008         0
022 D000008         0
022 C000009         0
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000          0
023 D000000          0
<PAGE>      PAGE  3
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 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
028 A010000         0
028 A020000         0
028 A030000         0
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
030 A000000      0
030 B000000  0.00
030 C000000  0.00
<PAGE>      PAGE  4
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
035  000000      0
036 B000000      0
038  000000      0
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.900
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
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
<PAGE>      PAGE  5
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056  000000 Y
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 N
060 B000000 N
061  000000      150
062 A000000 N
062 B000000   0.0
062 C000000   0.0
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   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
063 A000000   0
063 B000000  0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 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 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000         0
071 B000000         0
071 C000000         0
071 D000000    0
072 A000000  1
072 B000000        3
072 C000000        0
072 D000000        0
072 E000000        0
072 F000000        1
072 G000000        0
072 H000000        0
072 I000000        0
072 J000000        0
<PAGE>      PAGE  7
072 K000000        0
072 L000000        0
072 M000000        0
072 N000000        0
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000        0
072 S000000        0
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000        0
072 X000000        1
072 Y000000        0
072 Z000000        2
072AA000000        0
072BB000000        0
072CC010000        0
072CC020000        0
072DD010000        2
072DD020000        0
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000     4812
074 B000000        0
074 C000000        0
074 D000000        0
074 E000000        0
074 F000000        0
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000        0
074 K000000        0
074 L000000        2
074 M000000       50
074 N000000     4864
074 O000000        0
074 P000000        0
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000      121
074 S000000        0
074 T000000     4743
074 U010000      344
<PAGE>      PAGE  8
074 U020000        0
074 V010000    13.77
074 V020000     0.00
074 W000000   0.0000
074 X000000      307
074 Y000000        0
075 A000000        0
075 B000000     4743
076  000000    15.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 Y
078  000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000   525000
081 A000000 Y
081 B000000   2
082 A000000 N
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
086 A010000    344
086 A020000   4812
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
<PAGE>      PAGE  9
086 F010000      0
086 F020000      0
087 A010000 DEM, INC.
087 A020000 233201102
087 A030000 DEMI
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   NATHAN A. CHAPMAN, JR,                       
TITLE       PRESIDENT           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This Schedule contains Summary Financial Information extracted from the
Registrant's Audited Financial Statements dated December 31, 1995 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                    2,431
<ASSETS-OTHER>                               4,861,850
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               4,864,281
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      121,481
<TOTAL-LIABILITIES>                            121,481
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,740,915
<SHARES-COMMON-STOCK>                          344,417
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,885
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 4,864,281
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                2,431
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     546
<NET-INVESTMENT-INCOME>                          1,885
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            1,885
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        344,417
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       4,864,281
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              468
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    546
<AVERAGE-NET-ASSETS>                         4,743,321
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

                     ARTHUR ANDERSEN LLP
                  120 East Baltimore Street
                    Baltimore, MD  21202



To the Board of Directors and Shareholders of:
DEM, Inc.

In planning and performing our audit of the consolidated
financial statements of DEM, Inc. from inception (November
30, 1995) through December 31, 1995, we consider its
internal control structure, including procedures 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 the internal control
structure.

The management of DEM, Inc. is responsible for establishing
and maintaining an internal control structure and the
practices and procedures referred to in the preceding
paragraph.  In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of internal control structure
policies and procedures.  Two of the objectives of an
internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in conformity
with generally accepted accounting principles.

Because of inherent limitations in any internal control
structure or the practices and procedures referred to above,
errors or irregularities may occur and may not be detected.
Also, projection of any evaluation of them to future periods
is subject to the risk that they may become inadequate
because of changes in conditions or that the effectiveness
of their design and operation may deteriorate.

Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure 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 the specific internal control
structure elements does not reduce to a relatively low level
the risk that errors or irregularities 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
the internal control structure, including procedures for
safeguarding securities that we consider to be material
weaknesses as defined above as of December 31, 1995.

This report is intended solely for the information and use
of management and the Securities and Exchange Commission.

                              /s/  ARTHUR ANDERSEN LLP


                                   Arthur Anderson LLP


BA0DOCS1\0030720.01



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission