DREYFUS APPRECIATION FUND INC
NSAR-A, 1997-08-25
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000 A000000 06/30/97
000 C000000 0000318478
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001 A000000 DREYFUS APPRECIATION FUND, INC.
001 B000000 811-3081
001 C000000 2129226785
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003  000000 N
004  000000 N
005  000000 N
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015 A000001 MELLON BANK, N.A.
015 B000001 C
015 C010001 PITTSBURGH
015 C020001 PA
015 C030001 15258
015 E030001 X
018  000000 Y
019 A000000 Y
019 B000000  148
019 C000000 DREYFUSFAM
020 A000001 AUTRANET, INC.
020 B000001 13-2961507
020 C000001     64
020 A000002 S.G. WARBURG & CO. INC.
020 B000002 13-3340045
020 C000002     41
020 A000003 HAMBRECHT & QUIST INCORPORATED
020 B000003 94-2856935
020 C000003     25
020 A000004 J.P. MORGAN SECURITIES INC.
020 B000004 13-3224016
020 C000004     25
020 A000005 FURMAN SELZ INCORPORATED
020 B000005 13-2753731
020 C000005     20
020 A000006 ROBERT W. BAIRD & CO. INCORPORATED
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020 A000007 WEEDEN & CO. L.P.
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020 B000007 13-3364318
020 C000007     18
020 A000008 SANFORD C. BERNSTEIN & CO., INC.
020 B000008 13-2625874
020 C000008     18
020 A000009 BEAR, STEARNS & CO. INC.
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020 C000009     16
020 A000010 DILLON, READ & CO. INC.
020 B000010 13-1939216
020 C000010     15
021  000000      498
022 A000001 G.X. CLARKE & CO.
022 B000001 13-2969143
022 C000001    546051
022 D000001    779605
022 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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022 C000002    114068
022 D000002         0
022 A000003 PARIBAS CORP.
022 B000003 13-3235334
022 C000003     62700
022 D000003     29001
022 A000004 SANWA SECURITIES (USA) CO., L.P.
022 B000004 13-3046258
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022 D000004         0
022 A000005 UBS SECURITIES INC.
022 B000005 13-2932996
022 C000005     47223
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022 A000006 CHASE SECURITIES, INC.
022 B000006 13-3112953
022 C000006     19000
022 D000006     32301
022 A000007 PAINEWEBBER INCORPORATED
022 B000007 13-2638166
022 C000007     51212
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022 A000008 AUBREY G. LANSTON & CO. INC.
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022 A000009 DILLON, READ & CO. INC.
022 B000009 13-1939216
022 C000009     22400
022 D000009         0
022 A000010 THE NIKKO SECURITIES CO. INTERNATIONAL, INC.
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022 C000010     19869
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SIGNATURE   MICHAEL S. PETRUCELLI                        
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

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<CIK> 0000318478
<NAME> DREYFUS APPRECIATION FUND, INC.
<MULTIPLIER> 1000
       
<S>                             <C>
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<PERIOD-END>                               JUN-30-1997
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</TABLE>


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