ALLIANCE GOVERNMENT RESERVES INC
NSAR-B, 1998-08-27
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<PAGE>      PAGE  1
000 B000000 06/30/98
000 C000000 0000278042
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ALLIANCE GOVERNMENT RESERVES
001 B000000 811-02889
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 GOVERNMENT RESERVES
007 C030100 N
007 C010200  2
007 C020200 ALLIANCE TREASURY 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 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.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   53
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 FUJI SECURITIES, INC.
022 B000001 36-2880742
022 C000001  13887783
022 D000001         0
022 A000002 UBS SECURITIES, INC.
022 B000002 13-2932996
022 C000002  11407900
022 D000002         0
022 A000003 BARCLAYS DE ZOETE WEDD SECURITIES, INC.
022 B000003 13-3551367
022 C000003   9592898
022 D000003         0
022 A000004 STATE STREET BANK & TRUST CO.
022 B000004 04-1867445
022 C000004   8955800
022 D000004      3700
022 A000005 SWISS BANK CORP.
022 C000005   8886700
022 D000005         0
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006   8608591
022 D000006     46973
<PAGE>      PAGE  3
022 A000007 CIBC/WOOD GUNDY, INC.
022 C000007   8071300
022 D000007         0
022 A000008 MORGAN STANLEY AND CO., INC.
022 B000008 13-2655998
022 C000008   7220427
022 D000008         0
022 A000009 CS FIRST BOSTON CORP
022 B000009 13-5659485
022 C000009   6618476
022 D000009     89690
022 A000010 PRUDENTIAL SECURITIES, INC.
022 B000010 22-2347336
022 C000010   6701197
022 D000010         0
023 C000000  129219658
023 D000000     321148
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026 B000000 N
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026 G020000 N
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054 B00AA00 Y
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054 F00AA00 N
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054 H00AA00 Y
054 I00AA00 N
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054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
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057  00AA00 N
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<PAGE>      PAGE  4
077 A000000 Y
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 GULF INSURANCE COMPANY
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024  000100 Y
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025 B000102 13-2655998
<PAGE>      PAGE  5
025 C000102 D
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025 A000103 UBS SECURITIES, INC.
025 B000103 13-2932996
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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063 B000100  0.0
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070 A010100 Y
070 A020100 Y
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 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
<PAGE>      PAGE  8
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  9
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024  000200 Y
025 A000201 GOLDMAN, SACHS & CO.
025 B000201 13-5108880
025 C000201 D
025 D000201   18000
025 A000202 MORGAN STANLEY AND CO., INC.
025 B000202 13-2655998
025 C000202 D
025 D000202   18000
025 A000203 DELETE
025 D000203       0
025 A000204 DELETE
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025 D000206       0
025 D000207       0
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028 A040200    197166
<PAGE>      PAGE  10
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028 F040200    182097
028 G010200   1026230
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028 G040200   1033043
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
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042 C000200 100
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042 E000200   0
042 F000200   0
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042 H000200   0
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<PAGE>      PAGE  11
045  000200 Y
046  000200 N
047  000200 Y
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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  71.5
062 C000200   0.0
062 D000200  28.0
062 E000200   0.0
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<PAGE>      PAGE  12
063 A000200  57
063 B000200  0.0
064 A000200 N
064 B000200 N
066 A000200 N
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068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
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 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 N
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
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071 C000200         0
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
074 Q000200        0
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SIGNATURE   BETH SMITH                                   
TITLE       ASST VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000278042
<NAME> ALLIANCE GOVERNMENT RESERVES
<SERIES>
   <NUMBER> 01
   <NAME> ALLIANCE GOVERNMENT RESERVES
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               JUN-30-1998
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<ASSETS-OTHER>                               1,063,998               
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           4,913,393,155
<PAYABLE-FOR-SECURITIES>                             0
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<SENIOR-EQUITY>                              4,909,580                
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<SHARES-COMMON-STOCK>                    4,909,579,676
<SHARES-COMMON-PRIOR>                    3,763,356,075
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (868,802)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
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<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                            (42,828,923)
<NET-INVESTMENT-INCOME>                    198,248,141
<REALIZED-GAINS-CURRENT>                         2,080
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                      198,250,221
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                (198,248,141)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>           (12,491,417,308)
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<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (870,882)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       20,223,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             43,358,000
<AVERAGE-NET-ASSETS>                     4,282,892,305
<PER-SHARE-NAV-BEGIN>                             1.00
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<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000278042
<NAME> ALLIANCE GOVERNMENT RESERVES
<SERIES>
   <NUMBER> 02
   <NAME> ALLIANCE TREASURY RESERVES
       
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               JUN-30-1998
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<OTHER-ITEMS-ASSETS>                                 0
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<PAYABLE-FOR-SECURITIES>                             0
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<SENIOR-EQUITY>                                740,057
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,049)
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<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                      (16,592)
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<AVERAGE-NET-ASSETS>                       727,304,259
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.045
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.045)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   0.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>




REPORT OF CERTIFIED PUBLIC ACCOUNTANTS


The Board of Trustees and Shareholders
Alliance Government Reserves

In planning and performing our audit of the financial statements of Alliance 
Government Reserves, a series investment company consisting of Alliance 
Government Reserves Portfolio and Alliance Treasury Reserves Portfolio for the 
year ended June 30, 1998, we considered its internal control, including 
controls over safeguarding securities, in order to determine our auditing 
procedures for the purpose of expressing our opinion on the financial 
statements and to comply with the requirements of Form N-SAR, not to provide 
assurance on internal control.

The management of Alliance Government Reserves is responsible for establishing 
and maintaining internal control. In fulfilling this responsibility, estimates 
and judgments by management are required to assess the expected benefits and 
related costs of controls. Generally, controls that are relevant to an audit 
pertain to the entity's objective of preparing financial statements for 
external purposes that are fairly presented in conformity with generally 
accepted accounting principles. Those controls include safeguarding of assets 
against unauthorized acquisition, use, or disposition. 

Because of inherent limitations in internal control, errors or fraud may occur 
and may not be detected.  Also, projection of any evaluation of internal 
control to future periods is subject to the risk that it may become inadequate 
because of changes in conditions or that the effectiveness of the design and 
operation may deteriorate.

Our consideration of internal control would not necessarily disclose all 
matters in internal control that might be material weaknesses under standards 
established by the American Institute of Certified Public Accountants.  A 
material weakness is a condition in which the design or operation of any 
specific internal control component does not reduce to a relatively low level 
the risk that errors or fraud in amounts that would be material in relation to 
the financial statements being audited may occur and not be detected within a 
timely period by employees in the normal course of performing their assigned 
functions.  However, we noted no matters involving internal control, including 
controls over safeguarding securities, that we consider to be material 
weaknesses as defined above as of June 30, 1998.

This report is intended solely for the information and use of management and 
the Securities and Exchange Commission.


							McGladrey & Pullen, LLP

New York, New York
July 24, 1998




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