FORTIS MONEY PORTFOLIOS INC
NSAR-B, 1996-11-25
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<PAGE>      PAGE  1
000 B000000 09/30/96
000 C000000 0000312572
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FORTIS MONEY PORTFOLIOS, INC.
001 B000000 811-2943
001 C000000 6127384000
002 A000000 500 BIELENBERG DRIVE
002 B000000 WOODBURY
002 C000000 MN
002 D010000 55125
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 FORTIS MONEY FUND
007 C030100 N
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
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022 A000001 FIRST BANK MINNEAPOLIS
022 B000001 41-0256395
022 C000001    106115
022 D000001    105221
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000002 13-5674085
<PAGE>      PAGE  2
022 C000002    132621
022 D000002         0
022 A000003 LEHMAN BROTHERS, INC.
022 B000003 13-2518466
022 C000003     78696
022 D000003       992
022 A000004 COMMERCIAL CREDIT CO.
022 B000004 52-0883351
022 C000004     40634
022 D000004      6459
022 A000005 HOUSEHOLD FINANCE CORP.
022 B000005 36-1239445
022 C000005     26504
022 D000005      9691
022 A000006 PRUDENTIAL FUNDING CORP.
022 B000006 22-2347336
022 C000006     27353
022 D000006      3264
022 A000007 IBM CREDIT CORP.
022 B000007 22-2351962
022 C000007     26392
022 D000007         0
022 A000008 NORWEST INVESTMENT SERVICES
022 B000008 41-1508325
022 C000008     25342
022 D000008         0
022 A000009 JOHN DEERE CREDIT
022 B000009 36-2386361
022 C000009     22409
022 D000009         0
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022 B000010 35-0416090
022 C000010     22385
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
008 A000101 FORTIS ADVISERS INC.
008 B000101 A
008 C000101 801-07877
008 D010101 WOODBURY
008 D020101 MN
008 D030101 55125
010 A000101 FORTIS ADVISERS, INC.
010 B000101 85-07877
010 C010101 WOODBURY
010 C020101 MN
010 C030101 55125
011 A000101 FORTIS INVESTORS, INC.
011 B000101 8-13846
011 C010101 WOODBURY
011 C020101 MN
011 C030101 55125
012 A000101 FORTIS ADVISERS, INC.
012 B000101 85-07877
012 C010101 WOODBURY
012 C020101 MN
012 C030101 55125
013 A000101 KPMG PEAT MARWICK
013 B010101 MINNEAPOLIS
013 B020101 MN
013 B030101 55402
015 A000101 FIRST BANK NATIONAL ASSOCIATION MINNEAPOLIS
015 B000101 C
015 C010101 MINNEAPOLIS
015 C020101 MN
015 C030101 55480
015 E010101 X
018  000100 Y
019 A000100 Y
019 B000100   30
019 C000100 FORTISFUND
024  000100 Y
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025 B000101 13-5674085
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025 B000102 41-0256395
025 C000102 D
025 D000102    2064
025 A000103 AMERICAN GENERAL FINANCE CORP.
025 B000103 35-0416090
025 C000103 D
025 D000103    6248
025 A000104 IBM CREDIT CORP.
025 B000104 22-2351962
025 C000104 D
<PAGE>      PAGE  6
025 D000104    6273
025 A000105 COMMERCIAL CREDIT CO.
025 B000105 52-0883351
025 C000105 D
025 D000105    3879
025 A000106 JOHN DEERE CREDIT
025 B000106 36-2386361
025 C000106 D
025 D000106    6253
025 A000107 HOUSEHOLD FINANCE CORP.
025 B000107 36-1239445
025 C000107 D
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025 A000108 PRUDENTIAL FUNDING CORP.
025 B000108 22-2347336
025 C000108 D
025 D000108    5733
025 A000109 HOUSEHOLD FINANCE CORP.
025 B000109 36-1239445
025 C000109 D
025 D000109    4996
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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048 K020100 0.550
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050  000100 N
051  000100 N
052  000100 N
053 A000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 Y
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 Y
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100      500
062 A000100 Y
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100  93.7
062 J000100   1.7
062 K000100   0.0
062 L000100   2.3
062 M000100   0.0
062 N000100   0.0
<PAGE>      PAGE  9
062 O000100   0.0
062 P000100   2.3
062 Q000100   0.0
062 R000100   0.0
063 A000100  41
063 B000100  0.0
064 A000100 N
064 B000100 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 Y
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 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
SIGNATURE   TAMARA L. FAGELY                             
TITLE       TREASURER           
 

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

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 3 THROUGH 6 OF THE ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000312572
<NAME> FORTIS MONEY PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> FORTIS MONEY FUND (CLASS A)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1995
<PERIOD-END>                               SEP-30-1996
<INVESTMENTS-AT-COST>                      120,517,916
<INVESTMENTS-AT-VALUE>                     120,517,916
<RECEIVABLES>                                   36,259
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            50,349
<TOTAL-ASSETS>                             120,604,524
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      140,384
<TOTAL-LIABILITIES>                            140,384
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   120,464,140
<SHARES-COMMON-STOCK>                      120,375,422
<SHARES-COMMON-PRIOR>                      105,472,372
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               120,464,140
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,663,041
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,089,116)
<NET-INVESTMENT-INCOME>                      5,573,925
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        5,573,925
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (5,567,690)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                    289,819,879
<NUMBER-OF-SHARES-REDEEMED>              (279,933,849)
<SHARES-REINVESTED>                          5,017,020
<NET-CHANGE-IN-ASSETS>                      14,860,598
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          722,862
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,089,116
<AVERAGE-NET-ASSETS>                       119,419,000
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (0.05)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   0.91
<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
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 3 THROUGH 6 OF THE ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000312572
<NAME> FORTIS MONEY PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> FORTIS MONEY FUND (CLASS B)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1995
<PERIOD-END>                               SEP-30-1996
<INVESTMENTS-AT-COST>                      120,517,916
<INVESTMENTS-AT-VALUE>                     120,517,916
<RECEIVABLES>                                   36,259
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            50,349
<TOTAL-ASSETS>                             120,604,524
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      140,384
<TOTAL-LIABILITIES>                            140,384
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   120,464,140
<SHARES-COMMON-STOCK>                           27,851
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               120,464,140
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,663,041
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,089,116)
<NET-INVESTMENT-INCOME>                      5,573,925
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        5,573,925
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (2,121)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        528,590
<NUMBER-OF-SHARES-REDEEMED>                  (502,325)
<SHARES-REINVESTED>                              1,586
<NET-CHANGE-IN-ASSETS>                      14,860,598
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          722,862
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,089,116
<AVERAGE-NET-ASSETS>                       119,419,000
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.04
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (0.04)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.71<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>ANNUALIZED.
</FN>
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 3 THROUGH 6 OF THE ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000312572
<NAME> FORTIS MONEY PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> FORTIS MONEY FUND (CLASS C)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1995
<PERIOD-END>                               SEP-30-1996
<INVESTMENTS-AT-COST>                      120,517,916
<INVESTMENTS-AT-VALUE>                     120,517,916
<RECEIVABLES>                                   36,259
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            50,349
<TOTAL-ASSETS>                             120,604,524
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      140,384
<TOTAL-LIABILITIES>                            140,384
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   120,464,140
<SHARES-COMMON-STOCK>                              458
<SHARES-COMMON-PRIOR>                            9,221
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               120,464,140
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,663,041
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,089,116)
<NET-INVESTMENT-INCOME>                      5,573,925
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        5,573,925
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (1,212)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        115,173
<NUMBER-OF-SHARES-REDEEMED>                  (125,075)
<SHARES-REINVESTED>                              1,139
<NET-CHANGE-IN-ASSETS>                      14,860,598
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          722,862
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,089,116
<AVERAGE-NET-ASSETS>                       119,419,000
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (0.05)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.46<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>FORTIS ADVISERS HAS REIMBURSED EXPENSES FOR 12B-1 FEES CHARGED IN EXCESS OF
NATIONAL ASSOCIATION OF SECURITIES DEALERS LIMITATIONS.  FOR THE YEAR ENDED
SEPTEMBER 30, 1996, HAD THE REIMBURSEMENT NOT BEEN MADE, THE RATIO WOULD HAVE
BEEN 1.71%.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 3 THROUGH 6 OF THE ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000312572
<NAME> FORTIS MONEY PORTFOLIOS, INC.
<SERIES>
   <NUMBER> 1
   <NAME> FORTIS MONEY FUND (CLASS H)
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1995
<PERIOD-END>                               SEP-30-1996
<INVESTMENTS-AT-COST>                      120,517,916
<INVESTMENTS-AT-VALUE>                     120,517,916
<RECEIVABLES>                                   36,259
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            50,349
<TOTAL-ASSETS>                             120,604,524
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      140,384
<TOTAL-LIABILITIES>                            140,384
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   120,464,140
<SHARES-COMMON-STOCK>                           60,409
<SHARES-COMMON-PRIOR>                          121,949
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               120,464,140
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,663,041
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,089,116)
<NET-INVESTMENT-INCOME>                      5,573,925
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        5,573,925
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (2,902)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        382,158
<NUMBER-OF-SHARES-REDEEMED>                  (445,978)
<SHARES-REINVESTED>                              2,280
<NET-CHANGE-IN-ASSETS>                      14,860,598
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          722,862
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,089,116
<AVERAGE-NET-ASSETS>                       119,419,000
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.04
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (0.04)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.71
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

KPMG Peat Marwick LLP
4200 Norwest Center
90 South Seventh Street
Minneapolis MN 55402


Independent Auditors' Report on Internal Accounting
Control

The Board of Directors and Shareholders
Fortis Money Portfolios, Inc.:

In planning and performing our audits of the financial
statements of Fortis Money Fund (a portfolio within
Fortis Money Portfolios, Inc.) for the year ended
September 30, 1996, we considered their internal
control structure, including procedures for
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 the internal control structure.

The management of the Company is responsible for
establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates
and judgments by management are required to assess the
expected benefits and related costs of internal control
structure policies and procedures. Two of the
objectives of an internal control structure are to
provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from
unauthorized use or disposition and that transactions
are executed in accordance with management's
authorization and recorded properly to permit the
preparation of financial statements in conformity with
generally accepted accounting principles.

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

Our consideration of the internal control structure
would not necessarily disclose all matters in the
internal control structure 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 the specific internal control structure
elements does not reduce to a relatively low level the
risk that errors or irregularities 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 the internal control
structure, including procedures for safeguarding
securities, that we consider to be material weaknesses
as defined above as of September 30, 1996.

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

/s/

KPMG Peat Marwick LLP

Minneapolis Minnesota
November 8, 1996


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