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000 C000000 0000019614
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002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
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007 C010600 6
007 C010700 7
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007 C010900 9
007 C011000 10
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
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008 D020001 NY
008 D030001 10105
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011 B000001 8-30851
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011 C020001 NY
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012 B000001 84-0001187
012 C010001 SECAUCUS
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012 C030001 07096
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<PAGE> PAGE 2
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013 B040001 2798
014 A000001 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-00017574
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 BOSTON
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015 C030001 02110
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019 C000000 ALLIANCECA
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020 B000001 13-5674085
020 C000001 214
020 A000002 LEHMAN BROTHERS, INC.
020 B000002 13-2518466
020 C000002 186
020 A000003 SALOMON SMITH BARNEY, INC.
020 B000003 13-1912900
020 C000003 165
020 A000004 MORGAN (J.P.) SECURITIES, INC.
020 B000004 13-3224016
020 C000004 152
020 A000005 CS FIRST BOSTON CORP.
020 B000005 13-5659485
020 C000005 121
020 A000006 BANK OF AMERICA SECURITIES, INC.
020 C000006 97
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020 B000007 13-3340045
020 C000007 87
020 A000008 MORGAN STANLEY, DEAN WITTER, INC.
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020 C000009 78
020 A000010 PAINEWEBBER, INC.
020 B000010 13-2638166
020 C000010 72
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022 B000001 22-2347336
022 C000001 299540
022 D000001 2952
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022 B000002 04-1867445
022 C000002 300154
022 D000002 0
<PAGE> PAGE 3
022 A000003 FORD MOTOR CREDIT CORP.
022 C000003 90953
022 D000003 0
022 A000004 MORGAN,(J.P.) SECURITIES, INC.
022 B000004 13-3224016
022 C000004 83607
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022 C000006 48533
022 D000006 10861
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022 B000007 13-5108880
022 C000007 5354
022 D000007 44926
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
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022 C000008 36427
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022 C000009 13356
022 D000009 30272
022 A000010 CS FIRST BOSTON CORP.
022 B000010 13-5659485
022 C000010 10237
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE JOSEPH REZABEK
TITLE ASST. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 1,002,726,580
<INVESTMENTS-AT-VALUE> 1,221,741,744
<RECEIVABLES> 20,058,371
<ASSETS-OTHER> 59,874
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 29,226,414
<SENIOR-EQUITY> 1,755,966
<PAID-IN-CAPITAL-COMMON> 913,243,562
<SHARES-COMMON-STOCK> 154,174,809
<SHARES-COMMON-PRIOR> 159,591,089
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<ACCUMULATED-NET-GAINS> 81,343,689
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<ACCUM-APPREC-OR-DEPREC> 219,015,164
<NET-ASSETS> 1,212,633,575
<DIVIDEND-INCOME> 3,634,494
<INTEREST-INCOME> 157,659
<OTHER-INCOME> 0
<EXPENSES-NET> (6,516,959)
<NET-INVESTMENT-INCOME> (2,724,806)
<REALIZED-GAINS-CURRENT> 84,678,355
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<NET-CHANGE-FROM-OPS> 249,593,996
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<GROSS-EXPENSE> 6,517,000
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> THE ALLIANCE FUND, INC.
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<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
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<INVESTMENTS-AT-COST> 1,002,726,580
<INVESTMENTS-AT-VALUE> 1,221,741,744
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<SENIOR-EQUITY> 1,755,966
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<NET-INVESTMENT-INCOME> (2,724,806)
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<NET-CHANGE-FROM-OPS> 249,593,996
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<DISTRIBUTIONS-OF-GAINS> (5,904,028)
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<ACCUMULATED-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 3,845,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,517,000
<AVERAGE-NET-ASSETS> 87,793,729
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<PER-SHARE-NII> (0.04)
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
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<NAME> THE ALLIANCE FUND, INC.
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<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
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<GROSS-ADVISORY-FEES> 3,845,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,517,000
<AVERAGE-NET-ASSETS> 25,765,213
<PER-SHARE-NAV-BEGIN> 5.50
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000019614
<NAME> THE ALLIANCE FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> THE ALLIANCE FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-START> DEC-01-1998
<PERIOD-END> MAY-31-1999
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<INVESTMENTS-AT-VALUE> 1,221,741,744
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<TOTAL-ASSETS> 1,241,859,989
<PAYABLE-FOR-SECURITIES> 26,624,574
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,601,840
<TOTAL-LIABILITIES> 29,226,414
<SENIOR-EQUITY> 1,755,966
<PAID-IN-CAPITAL-COMMON> 913,243,562
<SHARES-COMMON-STOCK> 1,664,261
<SHARES-COMMON-PRIOR> 1,890,240
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<OVERDISTRIBUTION-NII> (2,724,806)
<ACCUMULATED-NET-GAINS> 81,343,689
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<NET-ASSETS> 1,212,633,575
<DIVIDEND-INCOME> 3,634,494
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<OTHER-INCOME> 0
<EXPENSES-NET> (6,516,959)
<NET-INVESTMENT-INCOME> (2,724,806)
<REALIZED-GAINS-CURRENT> 84,678,355
<APPREC-INCREASE-CURRENT> 167,640,447
<NET-CHANGE-FROM-OPS> 249,593,996
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (728,071)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 158,607
<NUMBER-OF-SHARES-REDEEMED> (516,475)
<SHARES-REINVESTED> 131,889
<NET-CHANGE-IN-ASSETS> 141,459,842
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 65,442,232
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,845,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,517,000
<AVERAGE-NET-ASSETS> 11,261,618
<PER-SHARE-NAV-BEGIN> 5.98
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.42
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<EXPENSE-RATIO> 0.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchased in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Corporation
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DECEMBER 1, 1998 THROUGH MAY 31, 1999
<CAPTION>
Total % of
Shares Shares Offering Shares
Date Shares % of FundPrice perPurchased bOffered Purchased Held
Security* PurchasedPurchasedAssets Share Fund Group (000) By Group Purchased From 05/31/99
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Infinity Broadcasting 12/09/98 671,500 0.00% $20.50 2,705,700 35,000 7.73% Merrill Lynch 0
Republic Services Inc 04/27/99 300,000 0.00% $16.88 6,499,200 100,000 6.50% Merrill Lynch 300,000
Goldman Sachs Group Inc 05/03/99 37,200 0.00% $53.00 1,247,900 60,000 2.08% Goldman Sachs Group Inc37,200
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering other than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
