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SIGNATURE JAMES COLANTINO
TITLE SENIOR ADMINISTRATOR
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000104300
<NAME> WALL STREET FUND, INC.
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</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of
The Wall Street Fund, Inc.:
In planning and performing our audit of the financial statements
and financial highlights of The Wall Street Fund, Inc.for the
year ended December 31, 1997, we considered its internal
control, including controls over 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.
The management of The Wall Street Fund, Inc. is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Genera lly, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
These controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also, projection
of any evaluation of internal control 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 internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A mater ial weakness is a
condition in which the design or operation of any specific
internal control component 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 internal
control, including controls over safeguarding securities, that
we consider to be material weaknesses, as defined above, as of
December 31, 1997.
This report is intended solely for the information and use of
management of The Wall Street Fund, Inc.and the Securities and
Exchange Commission.
COOPERS & LYBRAND L.L.P.
New York, New York
February 23, 1998
