<PAGE> PAGE 1
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001 A000000 CAPITAL APPRECIATION FUND
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<PAGE> PAGE 2
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015 A000001 PNC BANK
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<PAGE> PAGE 3
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022 C000007 10380
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLERS
[ARTICLE] 6
[CIK] 0000701388
[NAME] CAPITAL APPRECIATION FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] DEC-31-1996
[PERIOD-END] DEC-31-1996
[INVESTMENTS-AT-COST] 178,097,059
[INVESTMENTS-AT-VALUE] 223,795,750
[RECEIVABLES] 601,874
[ASSETS-OTHER] 855
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 224,398,479
[PAYABLE-FOR-SECURITIES] 109,975
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 156,753
[TOTAL-LIABILITIES] 266,728
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 179,434,374
[SHARES-COMMON-STOCK] 6,103,983
[SHARES-COMMON-PRIOR] 3,681,224
[ACCUMULATED-NII-CURRENT] 1,149,455
[OVERDISTRIBUTION-NII] 219,605
[ACCUMULATED-NET-GAINS] 13,938,060
[OVERDISTRIBUTION-GAINS] 1,220,919
[ACCUM-APPREC-OR-DEPREC] 45,698,691
[NET-ASSETS] 224,131,751
[DIVIDEND-INCOME] 1,687,610
[INTEREST-INCOME] 853,439
[OTHER-INCOME] 0
[EXPENSES-NET] 1,391,594
[NET-INVESTMENT-INCOME] 1,149,455
[REALIZED-GAINS-CURRENT] 13,928,060
[APPREC-INCREASE-CURRENT] 24,478,575
[NET-CHANGE-FROM-OPS] 39,566,030
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,741,271
[DISTRIBUTIONS-OF-GAINS] 23,015,510
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1,944,300
[NUMBER-OF-SHARES-REDEEMED] 287,644
[SHARES-REINVESTED] 716,103
[NET-CHANGE-IN-ASSETS] 101,976,319
[ACCUMULATED-NII-PRIOR] 811,421
[ACCUMULATED-GAINS-PRIOR] 7,856,531
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,261,284
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,391,594
[AVERAGE-NET-ASSETS] 167,191,282
[PER-SHARE-NAV-BEGIN] 33.18
[PER-SHARE-NII] 00.23
[PER-SHARE-GAIN-APPREC] 08.49
[PER-SHARE-DIVIDEND] 00.41
[PER-SHARE-DISTRIBUTIONS] 04.77
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 36.72
[EXPENSE-RATIO] 00.83
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
