ALLIANCE CAPITAL RESERVES
NSAR-A/A, 2000-03-02
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<PAGE>      PAGE  1
000 A000000 12/31/1999
000 C000000 0000275017
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 ALLIANCE CAPITAL RESERVES
001 B000000 811-02835
001 C000000 2013194105
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
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 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
<PAGE>      PAGE  2
012 C03AA01 07096
013 A00AA01 PRICEWATERHOUSECOOPERS 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.
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 WEST DEUTSCHE LANDESBANK
022 C000001  11778600
022 D000001         0
022 A000002 BANK OF MONTREAL, NEW YORK
022 C000002  10601200
022 D000002         0
022 A000003 BANK ONE CAPITAL MARKETS
022 C000003   8994470
022 D000003         0
022 A000004 CREDIT SUISSE FIRST BOSTON CORP.
022 B000004 13-5659485
022 C000004   6737315
022 D000004     79988
022 A000005 DRESDNER SECURITIES
022 C000005   5775640
022 D000005         0
022 A000006 SOCIETE GENERALE SECURITIES CORP.
022 B000006 13-1976032
022 C000006   5545732
022 D000006         0
022 A000007 CHASE SECURITIES, INC.
022 B000007 13-3112953
022 C000007   5240847
<PAGE>      PAGE  3
022 D000007         0
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000008 13-5674085
022 C000008   4973075
022 D000008         0
022 A000009 MORGAN STANLEY & CO., INC.
022 B000009 13-2655998
022 C000009   4199075
022 D000009         0
022 A000010 REPUBLIC NATIONAL BANK
022 C000010   4138400
022 D000010         0
023 C000000  100345394
023 D000000     525794
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 Y
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 Y
077 B000000 N
077 C000000 N
<PAGE>      PAGE  4
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 Y
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY, CHUBB
080 C00AA00    83000
081 A00AA00 Y
081 B00AA00 105
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
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 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
025 B000101 13-5674085
025 C000101 D
025 D000101  158874
025 A000102 MORGAN STANLEY & CO., INC.
025 B000102 13-2655998
025 C000102 D
025 D000102  185230
025 D000103       0
<PAGE>      PAGE  5
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100   1383668
028 A020100     39035
028 A030100         0
028 A040100   1052211
028 B010100   1344439
028 B020100     38163
028 B030100         0
028 B040100   1140623
028 C010100   1216868
028 C020100     39110
028 C030100         0
028 C040100   1514341
028 D010100   1312532
028 D020100     41911
028 D030100         0
028 D040100   1188752
028 E010100   1606240
028 E020100     42453
028 E030100         0
028 E040100   1154851
028 F010100   1833061
028 F020100     50624
028 F030100         0
028 F040100   1431666
028 G010100   8696808
028 G020100    251296
028 G030100         0
028 G040100   7482444
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
<PAGE>      PAGE  6
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100  13886
044  000100      0
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
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  18.4
062 D000100   0.0
062 E000100   0.0
062 F000100  28.0
062 G000100   0.0
062 H000100   0.0
062 I000100  35.8
062 J000100   0.4
062 K000100   0.0
<PAGE>      PAGE  7
062 L000100  15.5
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  66
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
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
<PAGE>      PAGE  8
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100  6
072 B000100   306842
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100    25899
072 G000100     9177
072 H000100        0
072 I000100     4964
072 J000100      402
072 K000100        0
072 L000100      550
072 M000100       12
072 N000100      560
072 O000100        0
072 P000100        0
072 Q000100        0
072 R000100       36
072 S000100       25
072 T000100    13886
072 U000100        0
072 V000100        0
072 W000100       35
072 X000100    55546
072 Y000100        0
072 Z000100   251296
072AA000100        0
072BB000100        6
072CC010100        0
072CC020100        0
072DD010100   251296
072DD020100        0
072EE000100        0
073 A010100   0.0230
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100   111590
074 B000100        0
074 C000100 11517813
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100        0
<PAGE>      PAGE  9
074 J000100        0
074 K000100        0
074 L000100   128347
074 M000100        0
074 N000100 11757750
074 O000100        0
074 P000100     8311
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     6115
074 S000100        0
074 T000100 11743324
074 U010100 11744051
074 U020100        0
074 V010100     1.00
074 V020100     0.00
074 W000100   0.9996
074 X000100   138076
074 Y000100        0
075 A000100 10921119
075 B000100        0
076  000100     0.00
024  000200 Y
025 A000201 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
025 B000201 13-5674085
025 C000201 D
025 D000201   44668
025 A000202 MORGAN STANLEY & CO., INC.
025 B000202 13-2655998
025 C000202 D
025 D000202   25249
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200    270771
028 A020200      5446
028 A030200         0
028 A040200    197118
028 B010200    339111
028 B020200      5388
028 B030200         0
028 B040200    255673
028 C010200    231297
028 C020200      5846
028 C030200         0
028 C040200    199099
<PAGE>      PAGE  10
028 D010200    208632
028 D020200      6290
028 D030200         0
028 D040200    257529
028 E010200    334413
028 E020200      6293
028 E030200         0
028 E040200    179570
028 F010200    333848
028 F020200      7130
028 F030200         0
028 F040200    305439
028 G010200   1718072
028 G020200     36393
028 G030200         0
028 G040200   1394428
028 H000200         0
029  000200 N
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   2035
044  000200      0
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
<PAGE>      PAGE  11
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
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  17.8
062 D000200   0.0
062 E000200   0.0
062 F000200  25.3
062 G000200   0.0
062 H000200   0.0
062 I000200  40.2
062 J000200   0.2
062 K000200   0.0
062 L000200  15.2
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  50
063 B000200  0.0
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
<PAGE>      PAGE  12
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
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    45013
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200     4047
072 G000200     1092
072 H000200        0
072 I000200      484
072 J000200      116
<PAGE>      PAGE  13
072 K000200        0
072 L000200       57
072 M000200        8
072 N000200      267
072 O000200        0
072 P000200        0
072 Q000200        0
072 R000200        8
072 S000200       11
072 T000200     2035
072 U000200        0
072 V000200        0
072 W000200       15
072 X000200     8140
072 Y000200        0
072 Z000200    36873
072AA000200        0
072BB000200        0
072CC010200        0
072CC020200        0
072DD010200    36873
072DD020200        0
072EE000200        0
073 A010200   0.0230
073 A020200   0.0000
073 B000200   0.0000
073 C000200   0.0000
074 A000200     6085
074 B000200        0
074 C000200  1744908
074 D000200        0
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200        0
074 J000200        0
074 K000200        0
074 L000200    18820
074 M000200        0
074 N000200  1769813
074 O000200        0
074 P000200     1249
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200     1139
074 S000200        0
074 T000200  1767425
074 U010200  1768613
<PAGE>      PAGE  14
074 U020200        0
074 V010200     1.00
074 V020200     0.00
074 W000200   0.9991
074 X000200     3814
074 Y000200        0
075 A000200  1600004
075 B000200        0
076  000200     0.00
SIGNATURE   JOHN COPPONI
TITLE       ASST. SECRETARY


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

<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-30-2000
<PERIOD-START>                             JUL-01-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                   11,517,812,838
<INVESTMENTS-AT-VALUE>                  11,517,812,838
<RECEIVABLES>                              128,346,639
<ASSETS-OTHER>                             111,589,665
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                          11,757,749,142
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   14,425,329
<TOTAL-LIABILITIES>                         14,425,329
<SENIOR-EQUITY>                             11,744,051
<PAID-IN-CAPITAL-COMMON>                11,732,306,521
<SHARES-COMMON-STOCK>                   11,744,050,572
<SHARES-COMMON-PRIOR>                   10,278,391,211
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (726,759)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                            11,743,323,813
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                          306,841,503
<OTHER-INCOME>                                       0
<EXPENSES-NET>                            (55,545,720)
<NET-INVESTMENT-INCOME>                    251,295,783
<REALIZED-GAINS-CURRENT>                       (5,961)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                      251,289,822
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                (251,295,783)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                  8,696,807,439
<NUMBER-OF-SHARES-REDEEMED>            (7,482,443,861)
<SHARES-REINVESTED>                        251,295,783
<NET-CHANGE-IN-ASSETS>                   1,465,653,400
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (720,798)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       25,899,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             55,546,000
<AVERAGE-NET-ASSETS>                    10,921,118,953
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.023
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.023)
<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>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<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-30-2000
<PERIOD-START>                             JUL-01-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                    1,744,908,362
<INVESTMENTS-AT-VALUE>                   1,744,908,362
<RECEIVABLES>                               18,819,752
<ASSETS-OTHER>                               6,084,558
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           1,769,812,672
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    2,387,323
<TOTAL-LIABILITIES>                          2,387,323
<SENIOR-EQUITY>                              1,768,613
<PAID-IN-CAPITAL-COMMON>                 1,766,843,923
<SHARES-COMMON-STOCK>                    1,768,612,536
<SHARES-COMMON-PRIOR>                    1,408,575,936
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,187,187)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                             1,767,425,349
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           45,013,261
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (8,140,332)
<NET-INVESTMENT-INCOME>                     36,872,929
<REALIZED-GAINS-CURRENT>                         (152)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                       36,872,777
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (36,872,929)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                  1,717,592,151
<NUMBER-OF-SHARES-REDEEMED>            (1,394,428,480)
<SHARES-REINVESTED>                         36,872,929
<NET-CHANGE-IN-ASSETS>                     360,036,448
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (1,187,035)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        4,047,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              8,140,000
<AVERAGE-NET-ASSETS>                     1,600,004,482
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.023
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.023)
<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>


ALLIANCE CAPITAL RESERVES
ALLIANCE GOVERNMENT RESERVES
ALLIANCE MUNICIPAL TRUST
Forms of Resolutions for Adoption at
Regular Meetings of Trustees
          September 25, 1999
Agenda Item 1

All			RESOLVED, that the minutes of the
  Funds	Regular Meetings of the Trustees held on
June 21, 1999 and the Special Meetings on
August 10, 1999, August 12, 1999, August
16, 1999 and September 7, 1999 in the form
recorded in the minute book of each Fund,
are hereby approved.


Agenda Item 2

All			RESOLVED, that PricewaterhouseCoopers
LLP,
  Funds	independent public accountants, are hereby
selected to audit the accounts of the Fund
for the fiscal year ending June 30, 2000.







Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549

We were previously the independent accountants for Alliance Capital
Reserves.   We have read their notification of change in independent
accountants made in Item 77K of Form N-SAR.  We agree with the
statements in the filing.




						McGladrey & Pullen, LLP


New York, New York
February 26, 2000






Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549

We were previously the independent accountants for Alliance Money
Reserves.   We have read their notification of change in independent
accountants made in Item 77K of Form N-SAR.  We agree with the
statements in the filing.




						McGladrey & Pullen, LLP


New York, New York
February 26, 2000





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