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> 12-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 10,218,965,290
<INVESTMENTS-AT-VALUE> 10,218,965,290
<RECEIVABLES> 240,578,986
<ASSETS-OTHER> 1,168,446
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,460,712,722
<PAYABLE-FOR-SECURITIES> 270,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,364,370
<TOTAL-LIABILITIES> 278,364,370
<SENIOR-EQUITY> 10,183,052
<PAID-IN-CAPITAL-COMMON> 10,172,868,468
<SHARES-COMMON-STOCK> 10,183,051,520
<SHARES-COMMON-PRIOR> 10,278,391,211
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (703,168)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 10,182,348,352
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 682,328,375
<OTHER-INCOME> 0
<EXPENSES-NET> (116,106,299)
<NET-INVESTMENT-INCOME> 566,222,076
<REALIZED-GAINS-CURRENT> 17,630
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 566,239,706
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (566,222,076)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,380,248,335
<NUMBER-OF-SHARES-REDEEMED> (20,041,810,102)
<SHARES-REINVESTED> 566,222,076
<NET-CHANGE-IN-ASSETS> (95,322,061)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (720,798)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 53,198,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 116,106,000
<AVERAGE-NET-ASSETS> 11,610,629,740
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.05)
<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>
