000 A000000 05/31/98
000 C000000 0000724201
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
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 PRICEWATERHOUSECOOPERS, LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
013 B04AA01 6013
014 A00AA01 RESRV PARTNERS, INC.
014 B00AA01 8-26731
015 A00AA01 CHASE MANHATTAN 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 21
019 C00AA00 RESERVEFUN
021 000000 0
022 A000001 SMITH BARNEY SALOMON
022 B000001 13-3082694
022 C000001 42850
022 D000001 47750
022 A000002 PRUDENTIAL SECURITIES, INC.
022 B000002 22-2347336
022 C000002 40450
022 D000002 47475
022 A000003 BEAR STEARNS & CO., INC.
022 B000003 13-4946705
022 C000003 31243
022 D000003 28550
022 A000004 LEHMAN BROS. & CO., INC.
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022 C000004 15300
022 D000004 5200
022 A000005 CHASE SECURITIES
022 C000005 0
022 D000005 20095
022 A000006 OPPENHEIMER & CO.
022 C000006 17965
022 D000006 0
022 A000007 J.P. MORGAN SECURITIES
022 C000007 14500
022 D000007 0
022 A000008 FIRST ALBANY
022 C000008 4557
022 D000008 0
022 A000009 COMMERCE CAPITAL
022 C000009 7412
022 D000009 0
<PAGE> PAGE 3
022 A000010 MORGAN STANLEY & CO., INC.
022 C000010 2000
022 D000010 2000
023 C000000 213089
023 D000000 172705
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
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028 F01AA00 45253
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028 G01AA00 355277
028 G02AA00 2164
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028 G04AA00 347261
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
<PAGE> PAGE 4
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 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
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045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.500
048 B01AA00 500000
048 B02AA00 0.475
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048 D01AA00 500000
048 D02AA00 0.425
048 E01AA00 20000000
048 E02AA00 0.400
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
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048 H02AA00 0.000
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
<PAGE> PAGE 5
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
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062 L00AA00 0.0
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062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
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063 B00AA00 0.0
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064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
<PAGE> PAGE 6
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
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
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070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 Y
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
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<PAGE> PAGE 7
072 L00AA00 10
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074 C00AA00 179647
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074 R03AA00 0
074 R04AA00 0
074 S00AA00 0
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074 U01AA00 181393
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<PAGE> PAGE 8
074 V01AA00 1.00
074 V02AA00 0.00
074 W00AA00 0.9999
074 X00AA00 14072
074 Y00AA00 0
075 A00AA00 186036
075 B00AA00 0
076 00AA00 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 TRAVELERS PROPERTY CASUALTY
080 C00AA00 9000
081 A00AA00 Y
081 B00AA00 29
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE MARYKATHLEEN FOYNES
TITLE COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> New York Tax-Exempt Fund
<S> <C>
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<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-START> JUN-01-1998
<PERIOD-END> NOV-30-1998
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<INVESTMENTS-AT-VALUE> 179,647,216
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<TOTAL-LIABILITIES> 4,969
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<PAID-IN-CAPITAL-COMMON> 181,393,375
<SHARES-COMMON-STOCK> 181,393,375
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 181,393,375
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 2,163,722
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<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,163,722
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,163,722)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 355,277,979
<NUMBER-OF-SHARES-REDEEMED> 347,260,585
<SHARES-REINVESTED> 2,163,722
<NET-CHANGE-IN-ASSETS> 10,181,116
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 466,306
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 932,611
<AVERAGE-NET-ASSETS> 186,035,521
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .012
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.012)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
