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<PAGE> PAGE 2
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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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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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062 J000500 0.0
062 K000500 0.0
062 L000500 1.5
062 M000500 0.0
062 N000500 0.0
062 O000500 96.8
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 20.8
064 A000500 Y
064 B000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 N
<PAGE> PAGE 22
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 8843
071 B000500 12180
071 C000500 47708
071 D000500 19
072 A000500 12
072 B000500 2875
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 245
072 G000500 0
072 H000500 0
072 I000500 60
072 J000500 11
072 K000500 2
072 L000500 7
072 M000500 7
072 N000500 5
072 O000500 1
072 P000500 0
072 Q000500 0
072 R000500 16
072 S000500 7
072 T000500 124
072 U000500 0
072 V000500 0
072 W000500 2
072 X000500 487
072 Y000500 1
072 Z000500 2389
072AA000500 848
072BB000500 0
072CC010500 0
072CC020500 600
072DD010500 2340
072DD020500 49
<PAGE> PAGE 23
072EE000500 512
073 A010500 0.3767
073 A020500 0.3181
073 B000500 0.0800
073 C000500 0.0000
074 A000500 54
074 B000500 0
074 C000500 800
074 D000500 44966
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 7
074 L000500 1010
074 M000500 0
074 N000500 46837
074 O000500 0
074 P000500 32
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 328
074 S000500 0
074 T000500 46477
074 U010500 5894
074 U020500 166
074 V010500 7.67
074 V020500 7.68
074 W000500 0.0000
074 X000500 889
074 Y000500 0
075 A000500 0
075 B000500 48994
076 000500 0.00
SIGNATURE THOMAS G. ROSE
TITLE TREASUER
PROXY RESULTS
- --------------------------------------------------------------------------------
Seligman Municipal Series Trust Shareholders voted on the following
proposals at the Special Meeting of Shareholders held on September 30, 1996, in
New York, NY. Each Trustee was elected, and all other proposals were approved.
The description of each proposal and number of shares voted are as follows:
ELECTION OF TRUSTEES:
FOR WITHHELD
--- ---------
Fred E. Brown 20,813,235 424,145
John R. Galvin 20,805,682 431,698
Alice S. Ilchman 20,816,771 420,609
Frank A. McPherson 20,800,549 436,831
John E. Merow 20,810,270 427,110
Betsy S. Michel 20,826,177 411,203
William C. Morris 20,817,181 420,199
James C. Pitney 20,814,181 423,199
James Q. Riordan 20,757,589 479,791
Ronald T. Schroeder 20,817,181 420,199
Robert L. Shafer 20,743,529 493,851
James N. Whitson 20,817,181 420,199
Brian T. Zino 20,816,870 420,510
RATIFICATION OF DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS:
FOR AGAINST ABSTAIN NON-VOTE
- --- ------- ------- ---------
20,056,295 160,586 1,020,499 n/a
APPROVAL TO PERMIT ANY PORTION OF INVESTMENTS IN SECURITIES SUBJECT TO THE
FEDERAL ALTERNATIVE MINIMUM TAX:
SERIES FOR AGAINST ABSTAIN NON-VOTE
- --------------- --------- ------- --------- -------
Calif. High-Yield 3,940,941 498,191 573,003 230,564
Calif. Quality 6,371,052 1,483,792 834,770 265,842
Florida 3,237,321 347,902 139,049 155,345
North Carolina 2,679,692 239,984 164,507 75,425
<PAGE>
INDEPENDENT AUDITORS' REPORT
The Board of Trustees
Seligman Municipal Series Trust
In planning and performing our audit of the financial statements of Seligman
Municipal Series Trust (formerly Seligman Tax-Exempt Series Trust) (the "Trust")
for the year ended September 30, 1996, we considered its internal control
structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing an opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.
The management of the Trust is responsible for establishing and maintaining an
internal control structure. 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 the 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 be
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of 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 detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
September 30, 1996.
This report is intended solely for the information and use of management and the
Securites and Exchange Commission.
October 30, 1996
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>021
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-CALIFORNA HIGH-YIELD CL A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 51325
<INVESTMENTS-AT-VALUE> 52896
<RECEIVABLES> 931
<ASSETS-OTHER> 38
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53865
<PAYABLE-FOR-SECURITIES> 1500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 182
<TOTAL-LIABILITIES> 1682
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49956
<SHARES-COMMON-STOCK> 7735<F1>
<SHARES-COMMON-PRIOR> 7962<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 656
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1571
<NET-ASSETS> 50264<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3108<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (413)<F1>
<NET-INVESTMENT-INCOME> 2695<F1>
<REALIZED-GAINS-CURRENT> 762
<APPREC-INCREASE-CURRENT> (303)
<NET-CHANGE-FROM-OPS> 3220
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2695)<F1>
<DISTRIBUTIONS-OF-GAINS> (181)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1432<F1>
<NUMBER-OF-SHARES-REDEEMED> (1891)<F1>
<SHARES-REINVESTED> 232<F1>
<NET-CHANGE-IN-ASSETS> (598)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 246<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 413<F1>
<AVERAGE-NET-ASSETS> 49083<F1>
<PER-SHARE-NAV-BEGIN> 6.47<F1>
<PER-SHARE-NII> .36<F1>
<PER-SHARE-GAIN-APPREC> .05<F1>
<PER-SHARE-DIVIDEND> (.36)<F1>
<PER-SHARE-DISTRIBUTIONS> (.02)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.50<F1>
<EXPENSE-RATIO> .84<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>024
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-CALIFORNA HIGH-YIELD CL D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 51325
<INVESTMENTS-AT-VALUE> 52896
<RECEIVABLES> 931
<ASSETS-OTHER> 38
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53865
<PAYABLE-FOR-SECURITIES> 1500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 182
<TOTAL-LIABILITIES> 1682
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49956
<SHARES-COMMON-STOCK> 295<F1>
<SHARES-COMMON-PRIOR> 197<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 656
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1571
<NET-ASSETS> 1919<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 91<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (25)<F1>
<NET-INVESTMENT-INCOME> 66<F1>
<REALIZED-GAINS-CURRENT> 762
<APPREC-INCREASE-CURRENT> (303)
<NET-CHANGE-FROM-OPS> 3220
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (66)<F1>
<DISTRIBUTIONS-OF-GAINS> (4)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 182<F1>
<NUMBER-OF-SHARES-REDEEMED> (93)<F1>
<SHARES-REINVESTED> 9<F1>
<NET-CHANGE-IN-ASSETS> (598)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 80
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25<F1>
<AVERAGE-NET-ASSETS> 1456<F1>
<PER-SHARE-NAV-BEGIN> 6.48<F1>
<PER-SHARE-NII> .30<F1>
<PER-SHARE-GAIN-APPREC> .05<F1>
<PER-SHARE-DIVIDEND> (.30)<F1>
<PER-SHARE-DISTRIBUTIONS> (.02)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.51<F1>
<EXPENSE-RATIO> 1.74<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class D only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>011
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-CALIFORNA QUALITY CL A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 92363
<INVESTMENTS-AT-VALUE> 95680
<RECEIVABLES> 1560
<ASSETS-OTHER> 332
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97572
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 366
<TOTAL-LIABILITIES> 366
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 94090
<SHARES-COMMON-STOCK> 14158<F1>
<SHARES-COMMON-PRIOR> 14285<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (202)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3318
<NET-ASSETS> 95561<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5642<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (755)<F1>
<NET-INVESTMENT-INCOME> 4887<F1>
<REALIZED-GAINS-CURRENT> 11
<APPREC-INCREASE-CURRENT> 1634
<NET-CHANGE-FROM-OPS> 6578
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4887)<F1>
<DISTRIBUTIONS-OF-GAINS> (171)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1670<F1>
<NUMBER-OF-SHARES-REDEEMED> (2170)<F1>
<SHARES-REINVESTED> 373<F1>
<NET-CHANGE-IN-ASSETS> (76)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (40)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 478<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 755<F1>
<AVERAGE-NET-ASSETS> 95533<F1>
<PER-SHARE-NAV-BEGIN> 6.65<F1>
<PER-SHARE-NII> .35<F1>
<PER-SHARE-GAIN-APPREC> .11<F1>
<PER-SHARE-DIVIDEND> (.35)<F1>
<PER-SHARE-DISTRIBUTIONS> (.01)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.75<F1>
<EXPENSE-RATIO> .79<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>014
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-CALIFORNA QUALITY CL D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 92363
<INVESTMENTS-AT-VALUE> 95680
<RECEIVABLES> 1560
<ASSETS-OTHER> 332
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97572
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 366
<TOTAL-LIABILITIES> 366
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 94090
<SHARES-COMMON-STOCK> 244<F1>
<SHARES-COMMON-PRIOR> 130<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (202)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3318
<NET-ASSETS> 1645<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 65<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (19)<F1>
<NET-INVESTMENT-INCOME> 46<F1>
<REALIZED-GAINS-CURRENT> 11
<APPREC-INCREASE-CURRENT> 1634
<NET-CHANGE-FROM-OPS> 6578
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (46)<F1>
<DISTRIBUTIONS-OF-GAINS> (2)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 229<F1>
<NUMBER-OF-SHARES-REDEEMED> (119)<F1>
<SHARES-REINVESTED> 4<F1>
<NET-CHANGE-IN-ASSETS> (76)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (40)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19<F1>
<AVERAGE-NET-ASSETS> 1097<F1>
<PER-SHARE-NAV-BEGIN> 6.63<F1>
<PER-SHARE-NII> .28<F1>
<PER-SHARE-GAIN-APPREC> .12<F1>
<PER-SHARE-DIVIDEND> (.28)<F1>
<PER-SHARE-DISTRIBUTIONS> (.01)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.74<F1>
<EXPENSE-RATIO> 1.69<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class D only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>051
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-FLORIDA CL A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 45080
<INVESTMENTS-AT-VALUE> 45766
<RECEIVABLES> 1017
<ASSETS-OTHER> 54
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46837
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 360
<TOTAL-LIABILITIES> 360
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45161
<SHARES-COMMON-STOCK> 5894<F1>
<SHARES-COMMON-PRIOR> 6362<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 630
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 686
<NET-ASSETS> 45200<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2806<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (466)<F1>
<NET-INVESTMENT-INCOME> 2340<F1>
<REALIZED-GAINS-CURRENT> 848
<APPREC-INCREASE-CURRENT> (600)
<NET-CHANGE-FROM-OPS> 2638
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2340)<F1>
<DISTRIBUTIONS-OF-GAINS> (504)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 507<F1>
<NUMBER-OF-SHARES-REDEEMED> (1133)<F1>
<SHARES-REINVESTED> 158<F1>
<NET-CHANGE-IN-ASSETS> (3156)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 294
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 238<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 466<F1>
<AVERAGE-NET-ASSETS> 47782<F1>
<PER-SHARE-NAV-BEGIN> 7.71<F1>
<PER-SHARE-NII> .38<F1>
<PER-SHARE-GAIN-APPREC> .04<F1>
<PER-SHARE-DIVIDEND> (.38)<F1>
<PER-SHARE-DISTRIBUTIONS> (.08)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.67<F1>
<EXPENSE-RATIO> .97<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>054
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-FLORIDA CL D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 45080
<INVESTMENTS-AT-VALUE> 45766
<RECEIVABLES> 1017
<ASSETS-OTHER> 54
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46837
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 360
<TOTAL-LIABILITIES> 360
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45161
<SHARES-COMMON-STOCK> 166<F1>
<SHARES-COMMON-PRIOR> 78<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 630
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 686
<NET-ASSETS> 1277<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 70<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (21)<F1>
<NET-INVESTMENT-INCOME> 49<F1>
<REALIZED-GAINS-CURRENT> 848
<APPREC-INCREASE-CURRENT> (600)
<NET-CHANGE-FROM-OPS> 2638
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (49)<F1>
<DISTRIBUTIONS-OF-GAINS> (8)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 126<F1>
<NUMBER-OF-SHARES-REDEEMED> (42)<F1>
<SHARES-REINVESTED> 4<F1>
<NET-CHANGE-IN-ASSETS> (3156)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 294
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21<F1>
<AVERAGE-NET-ASSETS> 1186<F1>
<PER-SHARE-NAV-BEGIN> 7.72<F1>
<PER-SHARE-NII> .32<F1>
<PER-SHARE-GAIN-APPREC> .04<F1>
<PER-SHARE-DIVIDEND> (.32)<F1>
<PER-SHARE-DISTRIBUTIONS> (.08)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.68<F1>
<EXPENSE-RATIO> 1.73<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class D only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>041
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-NORTH CAROLINA CL A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 37015
<INVESTMENTS-AT-VALUE> 37839
<RECEIVABLES> 631
<ASSETS-OTHER> 69
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38539
<PAYABLE-FOR-SECURITIES> 1237
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 136
<TOTAL-LIABILITIES> 1373
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36194
<SHARES-COMMON-STOCK> 4584<F1>
<SHARES-COMMON-PRIOR> 4839<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 824
<NET-ASSETS> 35934<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2132<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (384)<F1>
<NET-INVESTMENT-INCOME> 1748<F1>
<REALIZED-GAINS-CURRENT> 151
<APPREC-INCREASE-CURRENT> 428
<NET-CHANGE-FROM-OPS> 2378
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1748)<F1>
<DISTRIBUTIONS-OF-GAINS> (68)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 415<F1>
<NUMBER-OF-SHARES-REDEEMED> (793)<F1>
<SHARES-REINVESTED> 123<F1>
<NET-CHANGE-IN-ASSETS> (1537)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 67
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 182<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 387<F1>
<AVERAGE-NET-ASSETS> 36811<F1>
<PER-SHARE-NAV-BEGIN> 7.74<F1>
<PER-SHARE-NII> .37<F1>
<PER-SHARE-GAIN-APPREC> .11<F1>
<PER-SHARE-DIVIDEND> (.37)<F1>
<PER-SHARE-DISTRIBUTIONS> (.01)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.84<F1>
<EXPENSE-RATIO> 1.05<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A only. All other data are fund level.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER>044
<NAME> SELIGMAN MUNICIPAL SERIES TRUST-NORTH CAROLINA CL D
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 37015
<INVESTMENTS-AT-VALUE> 37839
<RECEIVABLES> 631
<ASSETS-OTHER> 69
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38539
<PAYABLE-FOR-SECURITIES> 1237
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 136
<TOTAL-LIABILITIES> 1373
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36194
<SHARES-COMMON-STOCK> 157<F1>
<SHARES-COMMON-PRIOR> 162<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 148
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 824
<NET-ASSETS> 1232<F1>
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 74<F1>
<OTHER-INCOME> 0
<EXPENSES-NET> (23)<F1>
<NET-INVESTMENT-INCOME> 51<F1>
<REALIZED-GAINS-CURRENT> 151
<APPREC-INCREASE-CURRENT> 428
<NET-CHANGE-FROM-OPS> 2378
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (51)<F1>
<DISTRIBUTIONS-OF-GAINS> (2)<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34<F1>
<NUMBER-OF-SHARES-REDEEMED> (44)<F1>
<SHARES-REINVESTED> 5<F1>
<NET-CHANGE-IN-ASSETS> (1537)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 67
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6<F1>
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23<F1>
<AVERAGE-NET-ASSETS> 1267<F1>
<PER-SHARE-NAV-BEGIN> 7.74<F1>
<PER-SHARE-NII> .31<F1>
<PER-SHARE-GAIN-APPREC> .10<F1>
<PER-SHARE-DIVIDEND> (.31)<F1>
<PER-SHARE-DISTRIBUTIONS> (.01)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.83<F1>
<EXPENSE-RATIO> 1.81<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class D only. All other data are fund level.
</FN>
</TABLE>
