<PAGE> PAGE 1
000 B000000 07/31/97
000 C000000 0000049717
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000 F000000 Y
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001 B000000 811-1629
001 C000000 6126712772
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
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002 D010000 55440
002 D020000 0010
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C030100 N
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011 B00AA01 8-16791
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55440
011 C04AA01 0010
012 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
012 B00AA01 84-456
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012 C02AA01 MN
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<PAGE> PAGE 2
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
013 B04AA01 3900
015 A00AA01 AMERICAN EXPRESS TRUST COMPANY
015 B00AA01 C
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015 C04AA01 2307
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015 A00AA02 MORGAN STANLEY TRUST COMPANY
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015 C04AA02 2775
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SIGNATURE LESLIE L. OGG
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> IDS NEW DIMENSIONS FUND CLASS B
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</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
IDS New Dimensions Fund, Inc.:
In planning and performing our audits of the financial statements of IDS
New Dimensions Fund, Inc. for the ten-month period ended July 31, 1997,
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 NSAR, not to provide assurance on the
internal control structure.
The management of IDS New Dimension Fund, Inc. is responsible for
establishing and maintaining a system of internal accounting control. 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 or 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 detectedwithin a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matter
involving the internal control structure, including procedures for
safeguarding securities, that we consider to be a material weakness
as defined above as of July 31, 1997.This report is intended solely for
the information and use of management and the Securities and Exchange
Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
September 5, 1997
