RESERVE NEW YORK TAX EXEMPT TRUST
NSAR-B, 1996-07-22
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<PAGE>      PAGE  1
000 B000000 05/31/96
000 C000000 0000724201
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 RESERVE NEW YORK TAX-EXEMPT TRUST
001 B000000 811-3814
001 C000000 2129779982
002 A000000 810 SEVENTH AVENUE, 17TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
002 D020000 5868
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  1
007 C010100  1
007 C020100 NEW YORK TAX-EXEMPT FUND
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 A00AA01 RESERVE MANAGEMENT COMPANY,  INC.
008 B00AA01 A
008 C00AA01 801-21972
008 D01AA01 MANHASSET
008 D02AA01 NY
008 D03AA01 11030
011 A00AA01 RESRV PARTNERS, INC.
011 B00AA01 8-26731
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
011 C04AA01 5868
012 A00AA01 RESERVE NEW YORK TAX-EXEMPT TRUST
012 B00AA01 84-1164
012 C01AA01 NEW YORK
012 C02AA01 NY
<PAGE>      PAGE  2
012 C03AA01 10019
012 C04AA01 5868
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
013 B04AA01 6013
014 A00AA01 RESRV PARTNERS, INC.
014 B00AA01 8-26731
015 A00AA01 CHEMICAL BANK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10019
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   11
019 C00AA00 RESERVEFUN
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 BEAR STEARNS & CO., INC.
022 B000001 13-3299429
022 C000001     72915
022 D000001     70100
022 A000002 PRUDENTIAL SECURITIES, INC.
022 B000002 22-2347336
022 C000002     81439
022 D000002     72600
022 A000003 MORGAN STANLEY & CO. INC.
022 B000003 13-2655998
022 C000003     20600
022 D000003     21900
022 A000004 CITICORP SECURITIESS MARKETS, INC.
022 B000004 13-2771536
022 C000004     17619
022 D000004     18810
022 A000005 CHEMICAL SECURITIES, INC.
022 B000005 13-3379014
022 C000005     47349
022 D000005     23765
022 A000006 J.P. MORGAN SECURITIES INC.
<PAGE>      PAGE  3
022 B000006 13-3224016
022 C000006     36600
022 D000006      7300
022 A000007 DILLON READ & CO. INC.
022 B000007 13-1939216
022 C000007      2900
022 D000007      6800
022 A000008 SMITH BARNEY INC.
022 B000008 13-1912900
022 C000008     91834
022 D000008     14815
022 A000009 LEHMAN BROTHERS INC.
022 B000009 13-2518466
022 C000009     17414
022 D000009      7065
022 A000010 BANKERS TRUST SECURITIES CORP.
022 B000010 13-4941427
022 C000010      6977
022 D000010      6650
023 C000000     418906
023 D000000     259640
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
028 A01AA00     40122
028 A02AA00       407
028 A03AA00     40529
028 A04AA00     41518
028 B01AA00     67523
028 B02AA00       339
028 B03AA00     67862
028 B04AA00     54884
028 C01AA00     67270
028 C02AA00       337
028 C03AA00     67607
<PAGE>      PAGE  4
028 C04AA00     83164
028 D01AA00     43557
028 D02AA00       301
028 D03AA00     43858
028 D04AA00     55050
028 E01AA00     43207
028 E02AA00       276
028 E03AA00     43483
028 E04AA00     49697
028 F01AA00     50765
028 F02AA00       309
028 F03AA00     51074
028 F04AA00     56520
028 G01AA00    312444
028 G02AA00      1969
028 G03AA00    314413
028 G04AA00    340833
028 H00AA00         0
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 Y
041  00AA00 Y
042 A00AA00   0
042 B00AA00   0
042 C00AA00   0
042 D00AA00 100
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00    299
044  00AA00    299
045  00AA00 Y
046  00AA00 N
047  00AA00 Y
048  00AA00  0.000
048 A01AA00   500000
048 A02AA00 0.500
048 B01AA00   500000
<PAGE>      PAGE  5
048 B02AA00 0.475
048 C01AA00   500000
048 C02AA00 0.450
048 D01AA00   500000
048 D02AA00 0.425
048 E01AA00 20000000
048 E02AA00 0.400
048 F01AA00        0
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048 G01AA00        0
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048 H01AA00        0
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048 I01AA00        0
048 I02AA00 0.000
048 J01AA00        0
048 J02AA00 0.000
048 K01AA00        0
048 K02AA00 0.000
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 Y
055 B00AA00 N
056  00AA00 N
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 N
060 B00AA00 N
061  00AA00     1000
062 A00AA00 Y
062 B00AA00   0.0
062 C00AA00   0.0
<PAGE>      PAGE  6
062 D00AA00   0.0
062 E00AA00  98.3
062 F00AA00   0.0
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063 A00AA00  56
063 B00AA00  0.0
064 A00AA00 Y
064 B00AA00 N
066 A00AA00 N
067  00AA00 N
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
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070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
<PAGE>      PAGE  7
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 Y
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00         0
071 B00AA00         0
071 C00AA00         0
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072 A00AA00 12
072 B00AA00     5793
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072 X00AA00     1603
072 Y00AA00      529
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<PAGE>      PAGE  8
074 B00AA00        0
074 C00AA00   124671
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074 V01AA00     1.00
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074 Y00AA00        0
075 A00AA00   154416
075 B00AA00        0
076  00AA00     0.00
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 NATIONAL UNION FIRE INS. CO.-AMER. HOME GRP.
080 C00AA00     6500
081 A00AA00 Y
081 B00AA00  17
082 A00AA00 Y
082 B00AA00       50
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
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086 B020000      0
<PAGE>      PAGE  9
086 C010000      0
086 C020000      0
086 D010000      0
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086 E020000      0
086 F010000      0
086 F020000      0
SIGNATURE   MARC C. COZZOLINO                            
TITLE       COUNSEL             
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-START>                              JUN-1-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                      123,426,475
<INVESTMENTS-AT-VALUE>                     123,286,106
<RECEIVABLES>                                1,384,752
<ASSETS-OTHER>                                 794,344
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             125,465,201
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       10,795
<TOTAL-LIABILITIES>                             10,795
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                      125,454,406
<SHARES-COMMON-PRIOR>                      152,905,968
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               125,454,406
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            5,792,951
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,603,215
<NET-INVESTMENT-INCOME>                      4,189,736
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                     (27,451,562)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    4,189,736
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                    636,980,296
<NUMBER-OF-SHARES-REDEEMED>                668,621,594
<SHARES-REINVESTED>                          4,189,736
<NET-CHANGE-IN-ASSETS>                    (27,451,562)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          775,398
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,603,215
<AVERAGE-NET-ASSETS>                       154,415,801
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   .028
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                            (.028)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    104
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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