<PAGE> PAGE 1
000 B000000 06/30/95
000 C000000 0000316572
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE 44 WALL STREET EQUITY FUND, INC.
001 B000000 811-3054
001 C000000 2122488080
002 A000000 26 BROADWAY, SUITE 205
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10004
002 D020000 1790
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C020100 THE 44 WALL STREET EQUITY FUND, INC.
007 C030100 N
007 C010200 2
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 A000001 MDB ASSET MANAGEMENT CORPORATION
008 B000001 A
008 C000001 801-32050
008 D010001 NANUET
008 D020001 NY
008 D030001 10954
011 A000001 BECKERMAN & COMPANY, INC.
011 B000001 8-39787
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10004
012 A000001 DST SYSTEMS INC.
012 B000001 84-00448
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64105
<PAGE> PAGE 2
012 C040001 1594
013 A000001 MCGLADREY & PULLEN
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
014 A000001 BECKERMAN & COMPANY, INC.
014 B000001 8-39787
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 BECKERMAN & COMPANY, INC.
020 B000001 13-3455953
020 C000001 6
020 A000002 GERARD KLAVER MATTISON
020 B000002 13-3274080
020 C000002 5
020 A000003 LAZARD FERES
020 B000003 13-5545100
020 C000003 4
020 A000004 HERZOG, HEINE, GEDULD INC.
020 B000004 13-1955436
020 C000004 3
020 A000005 DONALDSON, LUFKIN, JENERETTE
020 B000005 13-2741729
020 C000005 3
020 A000006 HOENIG
020 B000006 13-2156060
020 C000006 1
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 22
022 A000001 THE BANK OF NEW YORK
022 B000001 13-4641102
022 C000001 2
022 D000001 3
022 A000002 HERZOG, HEINE, GEDULD INC.
022 B000002 13-1955436
022 C000002 0
022 D000002 2
022 A000003 LAZARD FERES
022 B000003 13-5545100
022 C000003 1
022 D000003 0
<PAGE> PAGE 3
022 A000004 DONALDSON LUFKIN, JENERETTE
022 B000004 13-2741729
022 C000004 1
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 5
023 D000000 5
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 135
028 A020000 0
028 A030000 0
028 A040000 72
028 B010000 13
028 B020000 0
028 B030000 0
028 B040000 41
028 C010000 22
028 C020000 0
028 C030000 0
028 C040000 159
028 D010000 20
028 D020000 0
<PAGE> PAGE 4
028 D030000 0
028 D040000 22
028 E010000 6
028 E020000 0
028 E030000 0
028 E040000 104
028 F010000 5
028 F020000 0
028 F030000 0
028 F040000 51
028 G010000 201
028 G020000 0
028 G030000 0
028 G040000 449
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 N
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
<PAGE> PAGE 5
048 K020000 0.000
053 A000000 N
054 A000000 N
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 N
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 Y
055 B000000 Y
056 000000 N
057 000000 N
058 A000000 N
059 000000 N
060 A000000 N
060 B000000 N
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 C000000 Y
067 000000 N
068 A000000 N
068 B000000 N
<PAGE> PAGE 6
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 Y
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 7
071 B000000 6
071 C000000 8
071 D000000 72
072 A000000 12
072 B000000 29
072 C000000 192
072 D000000 0
072 E000000 0
072 F000000 82
072 G000000 0
072 H000000 102
072 I000000 58
072 J000000 7
<PAGE> PAGE 7
072 K000000 5
072 L000000 11
072 M000000 3
072 N000000 8
072 O000000 0
072 P000000 46
072 Q000000 0
072 R000000 11
072 S000000 34
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 60
072 X000000 427
072 Y000000 0
072 Z000000 -206
072AA000000 438
072BB000000 0
072CC010000 1252
072CC020000 0
072DD010000 137
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.1000
073 C000000 0.0000
074 A000000 112
074 B000000 0
074 C000000 0
074 D000000 303
074 E000000 440
074 F000000 8496
074 G000000 1
074 H000000 0
074 I000000 0
074 J000000 151
074 K000000 0
074 L000000 43
074 M000000 21
074 N000000 9567
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 574
074 S000000 0
074 T000000 8993
074 U010000 1308
<PAGE> PAGE 8
074 U020000 0
074 V010000 6.88
074 V020000 0.00
074 W000000 0.0000
074 X000000 2926
074 Y000000 0
075 A000000 0
075 B000000 8247
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A000000 NATIONAL FIRE UNION
080 C000000 475
081 A000000 Y
081 B000000 1
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 N
085 B000000 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
SIGNATURE MARK D. BECKERMAN
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 8,271,673
<INVESTMENTS-AT-VALUE> 9,239,846
<RECEIVABLES> 193,668
<ASSETS-OTHER> 21,744
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,567,250
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 574,010
<TOTAL-LIABILITIES> 574,010
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,834,700
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (206,229)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 408,544
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 911,733
<NET-ASSETS> 8,993,240
<DIVIDEND-INCOME> 192,023
<INTEREST-INCOME> 28,600
<OTHER-INCOME> 0
<EXPENSES-NET> 426,852
<NET-INVESTMENT-INCOME> (206,229)
<REALIZED-GAINS-CURRENT> 438,078
<APPREC-INCREASE-CURRENT> 1,252,472
<NET-CHANGE-FROM-OPS> 1,484,321
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 136,528
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34,909
<NUMBER-OF-SHARES-REDEEMED> 147,078
<SHARES-REINVESTED> 23,100
<NET-CHANGE-IN-ASSETS> (555,441)
<ACCUMULATED-NII-PRIOR> (241,983)
<ACCUMULATED-GAINS-PRIOR> 525,613
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82,466
<INTEREST-EXPENSE> 46,272
<GROSS-EXPENSE> 426,852
<AVERAGE-NET-ASSETS> 8,246,643
<PER-SHARE-NAV-BEGIN> 5.87
<PER-SHARE-NII> (.17)
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .10
<RETURNS-OF-CAPITAL> 19.32
<PER-SHARE-NAV-END> 6.88
<EXPENSE-RATIO> 4.62
<AVG-DEBT-OUTSTANDING> 456,000
<AVG-DEBT-PER-SHARE> .33
</TABLE>