ALLIANCE MUNICIPAL TRUST -NEW YORK PORTFOLIO
ALLIANCE CAPITAL
ANNUAL REPORT
JUNE 30, 1997
STATEMENT OF NET ASSETS
JUNE 30, 1997
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY# YIELD VALUE
- -------------------------------------------------------------------------
MUNICIPAL BONDS-92.0%
NEW YORK-91.7%
ALBANY CENTRAL SCHOOL DISTRICT
Series A FGIC
$ 1,075 5/01/98 4.00% $ 1,083,680
ALBANY IDR
(Davies Office Refurbishing Inc.)
Series '95 AMT VRDN(a)
2,500 9/01/15 4.25 2,500,000
ALBANY IDR
(Davies Office Refurbishing Inc.)
Series '97 AMT VRDN(a)
1,300 2/01/17 4.25 1,300,000
BABYLON UNION FREE SCHOOL
DISTRICT TAN
Series B
1,500 6/29/98 3.85 1,505,744
BROOME COUNTY
(Public Improvement Project)
Series '97 MBIA
3,200 4/15/98 3.90 3,236,157
BROOME COUNTY BAN
Series '97
7,973 4/15/98 3.92 7,992,923
BUFFALO RAN
Series A
1,300 7/15/97 3.60 1,300,318
CENTRAL ISLIP TAN
5,000 6/30/98 3.90 5,002,350
CLINTON COUNTY GO BAN
5,200 9/26/97 3.96 5,203,570
CLYDE-SAVANNAH CENTRAL SCHOOL
DISTRICT
FGIC
625 6/15/98 3.90 631,955
COHOES CENTRAL SCHOOL DISTRICT
FGIC
750 6/15/98 3.90 756,782
DUTCHESS COUNTY IDR
(Toys 'R' Us/NYTEX)
Series '84 VRDN(a)
1,000 11/01/19 4.25 1,000,000
ERIE COUNTY RAN
Series 97A
2,500 6/25/98 3.80 2,516,569
ERIE COUNTY RAN
Series B
5,000 11/19/97 3.60 5,012,105
FRANKLIN COUNTY IDR
(KES Chateaugay L.P.)
Series '91A AMT VRDN(a)
14,900 7/01/21 4.25 14,900,000
GENESEO BAN
Series '97
1,133 4/03/98 3.90 1,137,943
GENEVA CENTRAL SCHOOL DISTRICT
FGIC
550 6/15/98 3.96 554,074
ISLIP GO BAN
Series '96
3,720 7/25/97 3.98 3,720,634
ISLIP IDA
(Radiation Dynamics)
Series '88A AMT VRDN(a)
6,000 1/01/09 4.50 6,000,000
LANSING CENTRAL SCHOOL
DISTRICT BAN
9,500 10/08/97 4.04 9,511,621
LONG BEACH BOND
AMBAC
325 9/01/97 3.75 325,669
MUNICIPAL ASSISTANCE CORPORATION
Sub Series K-1 VRDN(a)
15,200 7/01/08 4.05 15,200,000
NAPLES CENTRAL SCHOOL DISTRICT
FSA
275 6/15/98 4.00 277,932
NEW YORK CITY GO
Series '95F-3 VRDN(a)
2,000 2/15/13 4.15 2,000,000
1
STATEMENT OF NET ASSETS (CONTINUED)
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY# YIELD VALUE
- -------------------------------------------------------------------------
NEW YORK CITY GO
Series '95F-4 VRDN(a)
$ 7,200 2/15/20 4.15% $ 7,200,000
NEW YORK CITY GO
Series '95F-5 VRDN(a)
5,000 2/15/16 4.15 5,000,000
NEW YORK CITY GO
Series '95F-6 VRDN(a)
3,000 2/15/18 4.15 3,000,000
NEW YORK CITY GO
Series F-2 VRDN(a)
6,700 2/15/12 4.05 6,700,000
NEW YORK CITY HEALTH & HOSPITAL CORP.
(Health Systems) Series C VRDN(a)
17,500 2/15/26 4.05 17,500,000
NEW YORK CITY HEALTH &
HOSPITAL REVENUE
(Health Systems) Series B VRDN(a)
5,000 2/15/26 4.05 5,000,000
NEW YORK CITY HOUSING
DEVELOPMENT CORP. MFHR
(Columbus Gardens Project)
Series '93A VRDN(a)
1,382 2/01/07 4.10 1,382,100
NEW YORK CITY HOUSING
DEVELOPMENT CORP. MFHR
(East 96th Street Project) VRDN(a)
8,000 8/01/15 4.15 8,000,000
NEW YORK CITY HOUSING
DEVELOPMENT CORP. MFHR
(Montifiore Medical Center)
Series '93A VRDN(a)
1,000 5/01/30 4.05 1,000,000
NEW YORK CITY HOUSING
DEVELOPMENT CORP. MFHR
(Queenswood Apts. Project)
Series '89A VRDN(a)
4,960 2/01/17 4.20 4,960,000
NEW YORK CITY HOUSING
DEVELOPMENT CORP. MFHR
(West 89th Street Project)
Series '96A AMT VRDN(a)
8,100 12/01/29 4.20 8,100,000
NEW YORK CITY IDA
(Brooklyn Navy Yard Project)
Series '95A AMT VRDN(a)
11,100 7/01/29 4.20 11,100,000
NEW YORK CITY IDA
(Brooklyn Navy Yard Project)
Series '95B AMT VRDN(a)
18,200 7/01/29 4.15 18,200,000
NEW YORK CITY IDA
(Church Heavenly Rest Day School)
Series '91 VRDN(a)
4,725 7/01/21 4.20 4,725,000
NEW YORK CITY IDA
(Columbia Grammar School Project)
Series '94 VRDN(a)
1,000 6/30/14 4.00 1,000,000
NEW YORK CITY IDA
(Korean Airlines Co.)
Series A AMT VRDN(a)
5,000 11/01/24 4.10 5,000,000
NEW YORK CITY IDA
(Nippon Cargo Air Project)
Series '92 AMT VRDN(a)
12,000 11/01/15 5.80 12,000,000
NEW YORK STATE DORMITORY AUTHORITY
(St. Josephs Hospital) MBIA
795 7/01/97 3.71 795,000
2
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY# YIELD VALUE
- -------------------------------------------------------------------------
NEW YORK STATE ERDA PCR
(Central Hudson Gas & Electric)
Series '87A AMT VRDN(a)
$ 16,400 6/01/27 4.10% $16,400,000
NEW YORK STATE ERDA PCR
(Long Island Lighting Co.)
Series A PPB(a)
6,000 3/01/16 3.60 6,000,000
NEW YORK STATE ERDA PCR
(New York State Gas & Electric)
Series '85 PPB(a)
5,000 3/15/15 3.65 5,000,000
NEW YORK STATE ERDA PCR
(New York State Gas & Electric)
Series '85B PPB(a)
4,000 10/15/15 3.85 4,000,000
NEW YORK STATE ERDA PCR
(Niagara Mohawk Corp.)
Series '86A AMT VRDN(a)
1,400 12/01/26 4.15 1,400,000
NEW YORK STATE ERDA PCR
(Rochester Gas & Electric)
Series '84 VRDN(a)
2,300 10/01/14 3.55 2,300,000
NEW YORK STATE HFA
(Normandie Court Housing Project)
Series '91A VRDN(a)
8,915 5/15/15 4.00 8,915,000
NEW YORK STATE JOB
DEVELOPMENT AUTHORITY
Series '86A-1 AMT VRDN(a)
1,840 3/01/00 4.10 1,840,000
NEW YORK STATE JOB
DEVELOPMENT AUTHORITY
Series '86C-1 AMT VRDN(a)
755 3/01/00 4.10 755,000
NEW YORK STATE MEDICAL
CARE FACILITIES FINANCE AGENCY
(Equipment Loan Program)
Series '85 VRDN(a)
2,000 11/01/15 4.10 2,000,000
NEW YORK STATE MEDICAL
CARE FACILITIES FINANCE AGENCY
(Equipment Loan Program)
Series '94A VRDN(a)
12,200 11/01/03 4.10 12,200,000
NEW YORK STATE MEDICAL
CARE FACILITIES FINANCE AGENCY
(St. Luke's Roosevelt)
Series '93A FHA
500 8/15/97 3.71 500,147
NEW YORK STATE MEDICAL
CARE FACILITIES FINANCE AGENCY
FHA Pre-Refunded
2,000 8/15/97 3.50 2,050,691
NEW YORK STATE THRUWAY AUTHORITY
(Highway & Bridge Trust Fund)
Series '97A
10,195 4/01/98 3.75 10,250,499
NEWBURGH IDA
(Mt. St. Mary College Civic Fac.)
Series '91 VRDN(a)
1,500 10/01/11 4.25 1,500,000
NIAGARA COUNTY IDA
(Pyron Corp. Project)
Series '89 AMT VRDN(a)
2,323 11/01/04 4.20 2,323,000
ONONDAGA COUNTY IDA
(Southern Container Project)
Series '87 AMT VRDN(a)
715 12/01/07 4.25 715,000
3
STATEMENT OF NET ASSETS (CONTINUED)
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY# YIELD VALUE
- -------------------------------------------------------------------------
ONTARIO COUNTY IDA
(Ultrafab Inc.)
Series '95 AMT VRDN(a)
$ 2,200 12/01/15 4.20% $ 2,200,000
PORT AUTHORITY OF NEW
YORK AND NEW JERSEY
Series 96-5 VRDN(a)
2,600 8/01/24 4.10 2,600,000
RENSSELAER COUNTY IDA
(Rensselaer Polytechnic
Institute Project)
Series '97A VRDN(a)
4,400 2/01/22 4.25 4,400,000
SHENENDEHOWA CENTRAL
SCHOOL DISTRICT BAN
Series '97
3,000 5/06/98 4.04 3,011,454
SOUTHEAST NEW YORK IDA
(The Rawplug Project)
Series '96 AMT VRDN(a)
2,300 5/01/21 4.25 2,300,000
SUFFOLK COUNTY
(Public Improvement Project)
Series A AMBAC
2,355 6/15/98 3.90 2,379,046
SUFFOLK COUNTY IDA
(Nissequogue Cogen Partners)
Series '93 AMT VRDN(a)
2,200 12/15/23 4.15 2,200,000
SYOSSET CENTRAL SCHOOL DISTRICT BAN
Series '96
4,500 7/18/97 3.92 4,500,664
TRIBOROUGH BRIDGE & TUNNEL AUTHORITY
Series '94 FGIC VRDN(a)
8,400 1/01/24 4.15 8,400,000
WESTCHESTER COUNTY IDR
(Elba Enterprises Project)
Series '86 AMT VRDN(a)
700 12/01/01 4.05 700,000
WESTCHESTER COUNTY IDR
(Hitachi America) VRDN(a)
1,500 7/01/98 4.20 1,500,000
WYANDANCH UNION FREE SCHOOL DISTRICT
FSA
315 4/01/98 3.85 318,792
------------
325,991,419
PUERTO RICO-0.3%
PUERTO RICO GO TRAN
Series '97A
1,000 7/30/97 3.76 1,000,149
Total Municipal Bonds
(amortized cost $326,991,568) 326,991,568
NEW YORK
COMMERCIAL PAPER-9.5%
NEW YORK CITY MUNICIPAL WATER
FINANCE AUTHORITY
10,000 7/31/97 3.70 10,000,000
NEW YORK CITY MUNICIPAL WATER
FINANCE AUTHORITY
Series 3
2,000 7/31/97 3.80 2,000,000
NEW YORK CITY MUNICIPAL WATER
FINANCE AUTHORITY
Series 4
4,000 7/31/97 3.75 4,000,000
NEW YORK CITY MUNICIPAL WATER
FINANCE AUTHORITY
Series 4
1,000 10/09/97 3.80 1,000,000
NEW YORK STATE DORMITORY AUTHORITY
(Memorial Sloan-Kettering
Cancer Center)
Series '89C
5,035 8/21/97 3.75 5,035,000
NEW YORK STATE DORMITORY AUTHORITY
(Memorial Sloan-Kettering
Cancer Center)
Series '96
5,000 7/18/97 3.80 5,000,000
4
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
PRINCIPAL
AMOUNT
(000) SECURITY# YIELD VALUE
- -------------------------------------------------------------------------
NEW YORK STATE ENVIRONMENTAL FACILITY
Series '97A
$ 6,900 7/16/97 4.00% $ 6,900,000
Total Commercial Paper
(amortized cost $33,935,000) 33,935,000
TOTAL INVESTMENTS-101.5%
(amortized cost $360,926,568) $360,926,568
Other assets less liabilities-(1.5%) (5,466,042)
NET ASSETS-100%
(offering and redemption
price of $1.00 per share;
355,524,472 shares outstanding) $355,460,526
# All securities either mature or their interest rate changes in one year or
less.
(a) Variable Rate Demand Notes (VRDN) are instruments whose interest rates
change on a specified date (such as coupon date or interest payment date) or
whose interest rates vary with changes in a designated base rate (such as the
prime interest rate). These instruments are payable on demand and are secured
by letters of credit or other credit support agreements from major banks.
Periodic Put Bonds (PPB) are payable on demand quarterly, semi-annually or
annually and their interest rates change less frequently than rates on Variable
Rate Demand Notes.
Glossary of Terms:
AMBAC American municipal bond assurance corporation
AMT Alternative minimum tax
BAN Bond anticipation note
ERDA Energy research & development authority
FGIC Financial guaranty insurance company
FHA Federal housing authority
FSA Financial security assurance
GO General obligation
HFA Housing finance agency/authority
IDA Industrial development authority
IDR Industrial development revenue
MBIA Municipal bond investors assurance
MFHR Multi-family housing revenue
PCR Pollution control revenue
RAN Revenue anticipation note
TAN Tax anticipation note
TRAN Tax & revenue anticipation note
See notes to financial statements.
5
STATEMENT OF OPERATIONS
YEAR ENDED JUNE 30, 1997
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
INVESTMENT INCOME
Interest $13,126,009
EXPENSES
Advisory fee (Note B) $1,833,945
Distribution assistance and administrative
service (Note C) 1,101,933
Transfer agency (Note B) 573,353
Custodian fees 123,145
Printing 74,230
Registration fees 66,420
Audit and legal fees 26,078
Trustees' fees 3,317
Miscellaneous 16,719
Total expenses 3,819,140
Less: expense reimbursement and fee waiver (701,434)
Net expenses 3,117,706
Net investment income 10,008,303
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain on investment transactions 51
Net change in unrealized appreciation of investments (2,331)
Net loss on investment transactions (2,280)
NET INCREASE IN NET ASSETS FROM OPERATIONS $10,006,023
STATEMENT OF CHANGES IN NET ASSETS
_______________________________________________________________________________
YEAR ENDED YEAR ENDED
JUNE 30,1997 JUNE 30,1996
------------- -------------
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS
Net investment income $ 10,008,303 $ 7,827,518
Net realized gain on investment transactions 51 308
Net change in unrealized appreciation of
investments (2,331) 2,331
Net increase in net assets from operations 10,006,023 7,830,157
DIVIDENDS TO SHAREHOLDERS FROM:
Net investment income (10,008,303) (7,827,518)
TRANSACTIONS IN SHARES OF BENEFICIAL INTEREST
Net increase (Note E) 24,478,975 153,727,353
Total increase 24,476,695 153,729,992
NET ASSETS
Beginning of year 330,983,831 177,253,839
End of year $355,460,526 $330,983,831
See notes to financial statements.
6
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1997
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
NOTE A: SIGNIFICANT ACCOUNTING POLICIES
Alliance Municipal Trust (the "Fund") is registered under the Investment
Company Act of 1940, as amended, as an open-end investment company. The Fund
operates as a series company currently issuing eight classes of shares of
beneficial interest: Alliance Municipal Trust-General Portfolio, Alliance
Municipal Trust-New York Portfolio (the "Portfolio"), Alliance Municipal
Trust-California Portfolio, Alliance Municipal Trust-Connecticut Portfolio,
Alliance Municipal Trust-New Jersey Portfolio, Alliance Municipal
Trust-Virginia Portfolio, Alliance Municipal Trust-Florida Portfolio and
Alliance Municipal Trust-Massachusetts Portfolio. Each series is considered to
be a separate entity for financial reporting and tax purposes. As a matter of
fundamental policy, the Portfolio, pursues its objectives by maintaining a
portfolio of high-quality money market securities all of which, at the time of
investment, have remaining maturities of 397 days or less. The following is a
summary of significant accounting policies followed by the Portfolio.
1. VALUATION OF SECURITIES
Securities in which the Portfolio invests are traded primarily in the
over-the-counter market and are valued at amortized cost, under which method a
portfolio instrument is valued at cost and any premium or discount is amortized
on a constant basis to maturity. Amortization of premium is charged to income.
Accretion of market discount is credited to unrealized gains.
2. TAXES
It is the Portfolio's policy to comply with the requirements of the Internal
Revenue Code applicable to regulated investment companies and to distribute all
of its investment company taxable income and net realized gains, if applicable,
to its shareholders. Therefore, no provisions for federal income or excise
taxes are required.
3. DIVIDENDS
The Portfolio declares dividends daily from net investment income and
automatically reinvests such dividends in additional shares at net asset value.
Net realized capital gains on investments, if any, are expected to be
distributed near year end. Dividends paid from net investment income for the
year ended June 30, 1997, are exempt from federal income taxes. However,
certain shareholders may be subject to the alternative minimum tax.
4. INVESTMENT INCOME AND INVESTMENT TRANSACTIONS
Interest income is accrued as earned. Investment transactions are recorded on a
trade date basis. Realized gain (loss) from investment transactions is recorded
on the identified cost basis.
NOTE B: ADVISORY FEE AND TRANSACTIONS WITH AN AFFILIATE OF THE ADVISER
The Portfolio pays its Adviser, Alliance Capital Management L.P., an advisory
fee at the annual rate of .50 of 1% on the first $1.25 billion of average daily
net assets; .49 of 1% on the next $.25 billion; .48 of 1% on the next $.25
billion; .47 of 1% on the next $.25 billion; .46 of 1% on the next $1 billion;
and .45 of 1% in excess of $3 billion. The Adviser has agreed, pursuant to the
advisory agreement, to reimburse the Portfolio to the extent that its annual
aggregate expenses (excluding taxes, brokerage, interest and, where permitted,
extraordinary expenses) exceed 1% of its average daily net assets for any
fiscal year. For the year ended June 30, 1997, the Adviser also voluntarily
agreed to reimburse the Portfolio for expenses exceeding .85 of 1% of its
average daily net assets. For the year ended June 30, 1997, the reimbursement
amounted to $334,645. The Portfolio compensates Alliance Fund Services, Inc. (a
wholly-owned subsidiary of the Adviser) for providing personnel and facilities
to perform transfer agency services for the Portfolio. Such compensation
amounted to $338,925 for the year ended June 30, 1997.
7
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
NOTE C: DISTRIBUTION ASSISTANCE AND ADMINISTRATIVE SERVICES PLAN
Under this Plan, the Portfolio pays the Adviser a distribution fee at the
annual rate of up to .25% of 1% of the average daily value of the Portfolio's
net assets. The Plan provides that the Adviser will use such payments in their
entirety for distribution assistance and promotional activities.
For the year ended June 30, 1997, the distribution fee amounted to $916,972 of
which $366,789 was waived. In addition, the Portfolio may reimburse certain
broker-dealers for administrative costs incurred in connection with providing
shareholder services, and may reimburse the Adviser for accounting and
bookkeeping, and legal and compliance support. For the year ended June 30,
1997, such payments by the Portfolio amounted to $184,961 of which $94,000 was
paid to the Adviser.
NOTE D: INVESTMENT TRANSACTIONS
At June 30, 1997, the cost of securities for federal income tax purposes was
the same as the cost for financial reporting purposes. At June 30, 1997, the
Portfolio had a capital loss carryforward of $20,548, of which $7,459 expires
in 2002 and $13,089 expires in the year 2003.
NOTE E: TRANSACTIONS IN SHARES OF BENEFICIAL INTEREST
An unlimited number of shares ($.01 par value) are authorized. At June 30,
1997, capital paid-in aggregated $355,481,074. Transactions, all at $1.00 per
share, were as follows:
YEAR ENDED YEAR ENDED
JUNE 30, JUNE 30,
1997 1996
--------------- ---------------
Shares sold 1,393,269,626 1,218,028,397
Shares issued on reinvestments of dividends 10,008,303 7,827,518
Shares redeemed (1,378,798,954) (1,072,128,562)
Net increase 24,478,975 153,727,353
8
FINANCIAL HIGHLIGHTS
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
SELECTED DATA FOR A SHARE OF BENEFICIAL INTEREST OUTSTANDING THROUGHOUT EACH
YEAR
<TABLE>
<CAPTION>
YEAR ENDED JUNE 30,
----------------------------------------------------------
1997 1996 1995 1994 1993
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of year $1.00 $1.00 $1.00 $1.00 $1.00
INCOME FROM INVESTMENT OPERATIONS
Net investment income (a) .027 .028 .028 .018 .019
LESS: DIVIDENDS
Dividends from net investment income (.027) (.028) (.028) (.018) (.019)
Net asset value, end of year $1.00 $1.00 $1.00 $1.00 $1.00
TOTAL RETURNS
Total investment return based on net
asset value (b) 2.77% 2.87% 2.84% 1.77% 1.94%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (000's omitted) $355,461 $330,984 $177,254 $162,839 $100,529
Ratio to average net assets of:
Expenses, net of waivers and reimbursements .85% .85% .85% .84% .80%
Expenses, before waivers and reimbursements 1.04% 1.03% 1.03% 1.08% 1.06%
Net investment income (a) 2.73% 2.82% 2.81% 1.77% 1.91%
</TABLE>
(a) Net of expenses reimbursed or waived by the Adviser.
(b) Total investment return is calculated assuming an initial investment made
at the net asset value at the beginning of the period, reinvestment of all
dividends and distributions at net asset value during the period, and
redemption on the last day of the period.
9
INDEPENDENT AUDITOR'S REPORT
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
TO THE BOARD OF TRUSTEES AND SHAREHOLDERS ALLIANCE MUNICIPAL TRUST - NEW YORK
PORTFOLIO
We have audited the accompanying statement of net assets of the New York
Portfolio of Alliance Municipal Trust as of June 30, 1997 and the related
statements of operations, changes in net assets, and financial highlights for
the periods indicated in the accompanying financial statements. These financial
statements and financial highlights are the responsibility of the Portfolio's
management. Our responsibility is to express an opinion on these financial
statements and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities owned as of June
30, 1997, by correspondence with the custodian and brokers.
An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of the
New York Portfolio of Alliance Municipal Trust as of June 30, 1997, and the
results of its operations, changes in its net assets, and its financial
highlights for the periods indicated, in conformity with generally accepted
accounting principles.
McGladrey & Pullen, LLP
New York, New York
July 29, 1997
10
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
_______________________________________________________________________________
TRUSTEES
DAVE H. WILLIAMS, CHAIRMAN
JOHN D. CARIFA
SAM Y. CROSS
CHARLES H.P. DUELL
WILLIAM H. FOULK, JR.
ELIZABETH J. MCCORMACK
DAVID K. STORRS
SHELBY WHITE
OFFICERS
RONALD M. WHITEHILL, PRESIDENT
DREW BIEGEL, SENIOR VICE PRESIDENT
JOHN R. BONCZEK, SENIOR VICE PRESIDENT
KATHLEEN A. CORBET, SENIOR VICE PRESIDENT
ROBERT I. KURZWEIL, SENIOR VICE PRESIDENT
WAYNE D. LYSKI, SENIOR VICE PRESIDENT
PATRICIA NETTER, SENIOR VICE PRESIDENT
RONALD R. VALEGGIA, SENIOR VICE PRESIDENT
KENNETH T. CARTY, VICE PRESIDENT
DORIS T. CILIBERTI, VICE PRESIDENT
MARIA R. CONA, VICE PRESIDENT
WILLIAM J. FAGAN, VICE PRESIDENT
JOSEPH R. LASPINA, VICE PRESIDENT
LINDA D. NEIL, VICE PRESIDENT
WILLIAM E. OLIVER, VICE PRESIDENT
RAYMOND J. PAPERA, VICE PRESIDENT
EDMUND P. BERGAN, JR., SECRETARY
MARK D. GERSTEN, TREASURER & CHIEF FINANCIAL OFFICER
VINCENT S. NOTO, CONTROLLER
CUSTODIAN
STATE STREET BANK AND TRUST COMPANY
P.O. Box 1912
Boston, MA 02105
LEGAL COUNSEL
SEWARD & KISSEL
One Battery Park Plaza
New York, NY 10004
AUDITORS
MCGLADREY & PULLEN, LLP
555 Fifth Avenue
New York, NY 10017
TRANSFER AGENT
ALLIANCE FUND SERVICES, INC.
P.O. Box 1520
Secaucus, NJ 07096-1520
DISTRIBUTOR
ALLIANCE FUND DISTRIBUTORS, INC.
1345 Avenue of the Americas
New York, NY 10105
11
ALLIANCE MUNICIPAL TRUST - NEW YORK PORTFOLIO
1345 Avenue of the Americas, New York, NY 10105
Toll free 1 (800) 221-5672
YIELDS. For current recorded yield information on Alliance
Municipal Trust, call on a touch-tone telephone toll-free
(800) 251-0539 and press the following sequence of keys:
1 # 1 # 4 9 #
For non-touch-tone telephones, call toll-free (800) 221-9513
ALLIANCE CAPITAL
DISTRIBUTION OF THIS REPORT OTHER THAN TO SHAREHOLDERS MUST
BE PRECEDED OR ACCOMPANIED BY THE FUND'S CURRENT PROSPECTUS,
WHICH CONTAINS FURTHER INFORMATION ABOUT THE FUND.
R THESE REGISTERED SERVICE MARKS USED UNDER LICENSE FROM
THE OWNER, ALLIANCE CAPITAL MANAGEMENT L.P.
ANYAR
