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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 10
SIGNATURE THOMAS G. ROSE
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> SELIGMAN CAPITAL FUND - CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 167189
<INVESTMENTS-AT-VALUE> 230574
<RECEIVABLES> 1247
<ASSETS-OTHER> 579
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232400
<PAYABLE-FOR-SECURITIES> 7010
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 564
<TOTAL-LIABILITIES> 7574
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 154985
<SHARES-COMMON-STOCK> 13839<F1>
<SHARES-COMMON-PRIOR> 12341<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (90)
<ACCUMULATED-NET-GAINS> 6546
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 63385
<NET-ASSETS> 215689<F1>
<DIVIDEND-INCOME> 1212<F1>
<INTEREST-INCOME> 408<F1>
<OTHER-INCOME> 149<F1>
<EXPENSES-NET> (1974)<F1>
<NET-INVESTMENT-INCOME> (205)<F1>
<REALIZED-GAINS-CURRENT> 35184
<APPREC-INCREASE-CURRENT> 24927
<NET-CHANGE-FROM-OPS> 59857
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (27349)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1762<F1>
<NUMBER-OF-SHARES-REDEEMED> (1994)<F1>
<SHARES-REINVESTED> 1730<F1>
<NET-CHANGE-IN-ASSETS> 59090
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (79)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 925<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1974<F1>
<AVERAGE-NET-ASSETS> 181139<F1>
<PER-SHARE-NAV-BEGIN> 13.17<F1>
<PER-SHARE-NII> (.02)<F1>
<PER-SHARE-GAIN-APPREC> 4.74<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (2.30)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 15.59<F1>
<EXPENSE-RATIO> 1.09<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 004
<NAME> SELIGMAN CAPITAL FUND - CLASS D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 167189
<INVESTMENTS-AT-VALUE> 230574
<RECEIVABLES> 1247
<ASSETS-OTHER> 579
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232400
<PAYABLE-FOR-SECURITIES> 7010
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 564
<TOTAL-LIABILITIES> 7574
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 154985
<SHARES-COMMON-STOCK> 612<F1>
<SHARES-COMMON-PRIOR> 248<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (90)
<ACCUMULATED-NET-GAINS> 6546
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 63385
<NET-ASSETS> 9137<F1>
<DIVIDEND-INCOME> 31<F1>
<INTEREST-INCOME> 10<F1>
<OTHER-INCOME> 4<F1>
<EXPENSES-NET> (94)<F1>
<NET-INVESTMENT-INCOME> (49)<F1>
<REALIZED-GAINS-CURRENT> 35184
<APPREC-INCREASE-CURRENT> 24927
<NET-CHANGE-FROM-OPS> 59857
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<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> (1045)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 424<F1>
<NUMBER-OF-SHARES-REDEEMED> (123)<F1>
<SHARES-REINVESTED> 63<F1>
<NET-CHANGE-IN-ASSETS> 59090
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (79)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 24<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 94<F1>
<AVERAGE-NET-ASSETS> 4672<F1>
<PER-SHARE-NAV-BEGIN> 12.82<F1>
<PER-SHARE-NII> (.14)<F1>
<PER-SHARE-GAIN-APPREC> 4.56<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> (2.30)<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.94<F1>
<EXPENSE-RATIO> 2.02<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class D only. All other data are fund level.
</FN>
</TABLE>
INDEPENDENT AUDITORS' REPORT
The Board of Directors and Shareholders
Seligman Capital Fund, Inc.
In planning and performing our audit of the financial statements of Seligman
Capital Fund, Inc. (the "Fund") for the year ended December 31, 1995, we
considered 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 the Fund is responsible for establishing and maintaining an
internal control structure. 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, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
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.
February 2, 1996
SELIGMAN CAPITAL FUND, INC.
NSAR - Item 77C
PROXY RESULTS
- --------------------------------------------------------------------------------
Seligman Capital Fund Shareholders voted on the following proposals at the
Special Meeting of Shareholders held on December 12, 1995, in New York, New
York. Each Director was elected, and all other proposals were approved except
for the proposals to amend the Management and Subadvisory Agreements. The
description of each proposal and number of shares voted are as follows:
FOR AGAINST NON-VOTE
--- ------- --------
Election of Directors:
Fred E. Brown 8,685,355 286,571 3,137,121
John R. Galvin 8,671,142 300,139 3,137,160
Alice S. Ilchman 8,700,405 282,769 3,137,116
Frank A. McPherson 8,674,329 297,905 3,137,126
John E. Merow 8,702,766 280,690 3,137,115
Betsy S. Michel 8,702,582 283,005 3,137,115
William C. Morris 8,703,180 281,090 3,137,114
James C. Pitney 8,701,135 283,324 3,137,115
James Q. Riordan 8,692,392 292,066 3,137,116
Ronald T. Schroeder 8,698,140 281,090 3,137,114
Robert L. Shafer 8,702,110 282,983 3,137,115
James N. Whitson 8,700,117 284,975 3,137,115
Brian T. Zino 8,699,369 285,725 3,137,114
<TABLE>
<CAPTION>
FOR AGAINST ABSTAIN NON-VOTE
--- ------- ------- --------
<S> <C> <C> <C> <C>
Ratification of Deloitte & Touche LLP as independent auditors: 8,565,710 119,738 301,077 3,136,962
Approval of amendments to the Management Agreement to increase
management fee payable by the Fund: 5,357,797 3,101,252 530,374 3,134,063
Approval of amendments to the Subadvisory Agreement to increase
the subadvisory fee payable by J. & W. Seligman & Co. Incorporated: 5,413,197 3,015,778 557,449 3,137,063
Approval of amendments of the Fund's fundamental investment policy to
permit mortgaging or pledging of its assets: 7,117,581 1,330,649 538,194 3,137,062
Elimination of Fund's fundamental investment policy prohibiting
participation in a joint securities trading account: 7,338,672 1,043,674 604,078 3,137,063
</TABLE>
