ALLIANCE CAPITAL RESERVES
485BPOS, EX-99.J(2), 2000-10-30
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                 CONSENT OF INDEPENDENT AUDITORS


We hereby consent to the use of our report dated July 23, 1999 on
the 1999 financial statements of the Capital Reserves Portfolio
and the Money Reserves Portfolio, series of Alliance Capital
Reserves referred to therein in its Post-Effective Amendment  to
the Registration Statement on Form N-1A as filed with the
Securities and Exchange Commission.


                                  McGladrey & Pullen, LLP

New York, New York
October 24, 2000































00250122.AO5



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