ALLIANCE CAPITAL RESERVES
NSAR-A, 1998-02-27
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<PAGE>      PAGE  1
000 A000000 12/31/97
000 C000000 0000275017
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 ALLIANCE CAPITAL RESERVES
001 B000000 811-02835
001 C000000 2013194000
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 ALLIANCE CAPITAL RESERVES
007 C030100 N
007 C010200  2
007 C020200 ALLIANCE MONEY RESERVES
007 C030200 N
008 A00AA01 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B00AA01 A
008 C00AA01 801-32361
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10105
011 A00AA01 ALLIANCE FUND DISTRIBUTORS, INC.
011 B00AA01 8-30851
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10105
012 A00AA01 ALLIANCE FUND SERVICES, INC.
012 B00AA01 84-0001187
012 C01AA01 SECAUCUS
012 C02AA01 NJ
012 C03AA01 07096
013 A00AA01 MCGLADREY AND PULLEN LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
014 A00AA01 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B00AA01 8-00017574
015 A00AA01 STATE STREET BANK AND TRUST CO.
<PAGE>      PAGE  2
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   52
019 C00AA00 ALLIANCECA
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 A000001 DEUTSCHE BANK SECURITIES CORP.
022 B000001 13-2730828
022 C000001   6640493
022 D000001         0
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002   3811283
022 D000002     43991
022 A000003 ASSOCIATED SECURITIES CORP.
022 B000003 95-3793471
022 C000003   3766543
022 D000003         0
022 A000004 CANADIAN IMPERIAL BANK
022 C000004   3552601
022 D000004         0
022 A000005 MORGAN (J.P.) SECURITIES CORP.
022 B000005 13-3224016
022 C000005   3212018
022 D000005     81972
022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000006 13-5674085
022 C000006   2798760
022 D000006    210478
022 A000007 REPUBLIC NATIONAL
022 C000007   2333600
022 D000007         0
022 A000008 LEHMAN BROTHERS INC.
022 B000008 13-2518466
022 C000008   1955419
022 D000008     71924
022 A000009 BANK OF MONTREAL
<PAGE>      PAGE  3
022 C000009   1976400
022 D000009         0
022 A000010 FORD MOTOR CREDIT CORP.
022 B000010 38-1012444
022 C000010   1577505
022 D000010         0
023 C000000   43911559
023 D000000     447336
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     1000
077 A000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00    86000
081 A00AA00 Y
081 B00AA00 117
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
<PAGE>      PAGE  4
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
024  000100 Y
025 A000101 FORD MOTOR CREDIT CORP
025 B000101 38-1012444
025 C000101 D
025 D000101  113595
025 A000102 GOLDMAN, SACHS & CO.
025 B000102 13-5108880
025 C000102 D
025 D000102  310000
025 A000103 MERRILL LYNCH, PIERCE, FENNER & SMITH
025 B000103 13-5674085
025 C000103 D
025 D000103  254855
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100   2658278
028 A020100     23615
028 A030100         0
028 A040100   2420080
028 B010100   2801560
028 B020100     25494
028 B030100         0
028 B040100   2624959
028 C010100   2596664
028 C020100     23249
028 C030100         0
028 C040100   2605117
028 D010100   3527680
028 D020100     26777
028 D030100         0
028 D040100   3514015
<PAGE>      PAGE  5
028 E010100   4669518
028 E020100     22967
028 E030100         0
028 E040100   4543237
028 F010100   1256910
028 F020100     26284
028 F030100         0
028 F040100   1242736
028 G010100  17510610
028 G020100    148386
028 G030100         0
028 G040100  16950144
028 H000100         0
029  000100 N
030 A000100      0
030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 N
035  000100      0
036 B000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 Y
042 A000100   0
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100   7851
044  000100   8695
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.000
048 A010100  1250000
048 A020100 0.500
048 B010100   250000
048 B020100 0.490
048 C010100   250000
048 C020100 0.480
048 D010100   250000
048 D020100 0.470
<PAGE>      PAGE  6
048 E010100  1000000
048 E020100 0.460
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100  3000000
048 K020100 0.450
049  000100 N
050  000100 N
051  000100 N
052  000100 N
053 A000100 N
062 A000100 Y
062 B000100   0.0
062 C000100   2.4
062 D000100   0.0
062 E000100   0.0
062 F000100  12.9
062 G000100   0.0
062 H000100   0.0
062 I000100  47.8
062 J000100   2.5
062 K000100   0.0
062 L000100  32.5
062 M000100   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
063 A000100  74
063 B000100  0.0
064 A000100 N
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
<PAGE>      PAGE  7
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100  6
072 B000100   179788
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100    14610
072 G000100     2080
072 H000100        0
072 I000100     6003
072 J000100      311
072 K000100        0
072 L000100      274
072 M000100        9
072 N000100      202
072 O000100        0
072 P000100        0
<PAGE>      PAGE  8
072 Q000100        0
072 R000100       15
072 S000100       19
072 T000100     7851
072 U000100        0
072 V000100        0
072 W000100       28
072 X000100    31402
072 Y000100        0
072 Z000100   148386
072AA000100        0
072BB000100        2
072CC010100        0
072CC020100        0
072DD010100   148386
072DD020100        0
072EE000100        0
073 A010100   0.0238
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100    89799
074 B000100        0
074 C000100  6319499
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100        0
074 K000100      677
074 L000100    39672
074 M000100      322
074 N000100  6449969
074 O000100        0
074 P000100     5026
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     3289
074 S000100        0
074 T000100  6441654
074 U010100  6442365
074 U020100        0
074 V010100     1.00
074 V020100     0.00
074 W000100   0.9998
074 X000100   120409
074 Y000100        0
<PAGE>      PAGE  9
075 A000100  6229299
075 B000100        0
076  000100     0.00
024  000200 Y
025 A000201 FORD MOTOR CREDIT CORP.
025 B000201 38-1012444
025 C000201 D
025 D000201   19756
025 A000202 GOLDMAN, SACHS & CO.
025 B000202 13-5108880
025 C000202 D
025 D000202   50500
025 A000203 MERRILL LYNCH, PIERCE, FENNER & SMITH
025 B000203 13-5674085
025 C000203 D
025 D000203   40977
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200    319829
028 A020200      4198
028 A030200         0
028 A040200    287696
028 B010200    384130
028 B020200      4638
028 B030200         0
028 B040200    305722
028 C010200    326166
028 C020200      4179
028 C030200         0
028 C040200    338127
028 D010200    323651
028 D020200      4648
028 D030200         0
028 D040200    381982
028 E010200    309846
028 E020200      3942
028 E030200         0
028 E040200    280425
028 F010200    649595
028 F020200      4468
028 F030200         0
028 F040200    669295
028 G010200   2313217
028 G020200     26073
028 G030200         0
028 G040200   2263247
028 H000200         0
029  000200 N
<PAGE>      PAGE  10
030 A000200      0
030 B000200  0.00
030 C000200  0.00
031 A000200      0
031 B000200      0
032  000200      0
033  000200      0
034  000200 N
035  000200      0
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200   1378
044  000200   1469
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.000
048 A010200  1250000
048 A020200 0.500
048 B010200   250000
048 B020200 0.490
048 C010200   250000
048 C020200 0.480
048 D010200   250000
048 D020200 0.470
048 E010200  1000000
048 E020200 0.460
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200  3000000
048 K020200 0.450
<PAGE>      PAGE  11
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 Y
053 B000200 Y
053 C000200 N
062 A000200 Y
062 B000200   0.0
062 C000200   1.8
062 D000200   0.0
062 E000200   0.0
062 F000200  13.1
062 G000200   0.0
062 H000200   0.0
062 I000200  50.6
062 J000200   0.2
062 K000200   0.0
062 L000200  33.8
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200  65
063 B000200  0.0
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
<PAGE>      PAGE  12
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
071 D000200    0
072 A000200  6
072 B000200    31584
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200     2755
072 G000200      360
072 H000200        0
072 I000200      683
072 J000200      114
072 K000200        0
072 L000200       58
072 M000200        6
072 N000200      282
072 O000200        0
072 P000200        0
072 Q000200        0
072 R000200        6
072 S000200        9
072 T000200     1378
072 U000200        0
072 V000200        0
072 W000200        9
072 X000200     5660
072 Y000200      149
072 Z000200    26073
072AA000200        0
072BB000200        0
<PAGE>      PAGE  13
072CC010200        0
072CC020200        0
072DD010200    26073
072DD020200        0
072EE000200        0
073 A010200   0.0240
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 A000200      402
074 B000200        0
074 C000200  1081137
074 D000200        0
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200       36
074 L000200     6724
074 M000200        0
074 N000200  1088299
074 O000200        0
074 P000200      891
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200      602
074 S000200        0
074 T000200  1086806
074 U010200  1087997
074 U020200        0
074 V010200     1.00
074 V020200     0.00
074 W000200   0.9989
074 X000200     4057
074 Y000200        0
075 A000200  1093148
075 B000200        0
076  000200     0.00
SIGNATURE   CATHY WHITE                                  
TITLE       ASST VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000275017
<NAME> ALLIANCE CAPITAL RESERVES
<SERIES>
   <NUMBER> 01
   <NAME> ALLIANCE CAPITAL RESERVES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                    6,319,498,691
<INVESTMENTS-AT-VALUE>                   6,319,498,691
<RECEIVABLES>                               39,672,212
<ASSETS-OTHER>                              90,797,510
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           6,449,968,413
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    8,314,168
<TOTAL-LIABILITIES>                          8,314,168
<SENIOR-EQUITY>                              6,442,365
<PAID-IN-CAPITAL-COMMON>                 6,435,922,276
<SHARES-COMMON-STOCK>                    6,442,364,641
<SHARES-COMMON-PRIOR>                    5,733,513,484
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (710,396)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                             6,441,654,245
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                          179,788,162
<OTHER-INCOME>                                       0
<EXPENSES-NET>                            (31,402,494)
<NET-INVESTMENT-INCOME>                    148,385,668
<REALIZED-GAINS-CURRENT>                       (2,275)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                      148,383,393
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                (148,385,668)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                 17,510,609,723
<NUMBER-OF-SHARES-REDEEMED>           (16,950,144,234)
<SHARES-REINVESTED>                        148,385,668
<NET-CHANGE-IN-ASSETS>                     708,848,882
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (708,121)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       14,610,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             31,402,000
<AVERAGE-NET-ASSETS>                     6,229,298,921
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.024
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.024)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000275017
<NAME> ALLIANCE CAPITAL RESERVES
<SERIES>
   <NUMBER> 02
   <NAME> ALLIANCE MONEY RESERVES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                    1,081,136,550
<INVESTMENTS-AT-VALUE>                   1,081,136,550
<RECEIVABLES>                                6,724,259
<ASSETS-OTHER>                                 437,796
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           1,088,298,605
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,492,129
<TOTAL-LIABILITIES>                          1,492,129
<SENIOR-EQUITY>                              1,087,997
<PAID-IN-CAPITAL-COMMON>                 1,086,908,644
<SHARES-COMMON-STOCK>                    1,087,996,641
<SHARES-COMMON-PRIOR>                    1,011,953,177
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,190,165)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                             1,086,806,476
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           31,584,094
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (5,510,662)
<NET-INVESTMENT-INCOME>                     26,073,432
<REALIZED-GAINS-CURRENT>                         (190)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                       26,073,242
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (26,073,432)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                  2,313,216,559
<NUMBER-OF-SHARES-REDEEMED>            (2,263,246,527)
<SHARES-REINVESTED>                         26,073,432
<NET-CHANGE-IN-ASSETS>                      76,043,274
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (1,189,975)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        2,755,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              5,660,000
<AVERAGE-NET-ASSETS>                     1,093,147,623
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.024
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.024)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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