CORTLAND TRUST INC
485B24E, 1995-05-26
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 2O549

                                   Form N-1A

            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                          Pre-Effective Amendment No.

                        Post-Effective Amendment No. 17

                                     and/or

        REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 194O

                                Amendment No. 19

                              CORTLAND TRUST, INC.
                (Exact Name of Registrant as Specified Charter)

                     600 Fifth Avenue, New York, N.Y. 10020
              (Address of Principal Executive Offices) (Zip Code)

Registrant's Telephone Number, including Area Code:  (212) 830-5220


                             KENNETH C. EBBITT, JR.
                                600 Fifth Avenue
                            New York, New York 10020
                    (Name and address of agent for service)


It is proposed that this filing will become effective (check appropriate box)


      [ ]   immediately upon filing pursuant to paragraph (b)

      [X]   on (May 26, 1995) pursuant to paragraph (b)

      [ ]   6O days after filing pursuant to paragraph (a)

      [ ]   on (date) pursuant to paragraph (a) of Rule 485



<PAGE>




   CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933   

- ----------------------------------------------------------------------

                             Proposed        Proposed
                              Maximum        Maximum
Securities      Amount       Offering        Aggregate       Amount of
 Being          Being        Price per       Offering     Registration
Registered      Registered       Unit         Price            Fee    


COMMON       134,078,760.42  $1.00*         134,078,760.42     $100**
STOCK


$.O01 par value

                                                                      

- ----------------------------------------------------------------------

     *  Estimated  solely  for the  purposes  of  determining  the amount of the
        registration fee.

**       Calculated  pursuant to Rule 24e-2(a) under the Investment  Company Act
         of 1940.  5,429,093,383.42  shares were redeemed during the fiscal year
         ended March 31, 1995 (of which 3,600,735,365.16 were redemptions of the
         General Money Market Fund common stock, 920,104,435.20 were redemptions
         of the U.S.  Government  Fund  common  stock  and  908,253,583.06  were
         redemptions   of  the  Municipal   Money  Market  Fund  common  stock);
         133,788,760.42  of  which  are  being  used  for  "reduction"  in  this
         amendment,  and  none of  which  were  previously  so  used in  filings
         pursuant to Rule  24e-2(a) or 24f-2(c)  during the current  fiscal year
         ending March 31, 1996.



<PAGE>


                                   SIGNATURES


         Pursuant  to the  requirements  of the  Securities  Act of 1933 and the
Investment  Company Act of 1940, the  Registrant  certifies that it meets all of
the  requirements  for  effectiveness  of  this  Amendment  to its  Registration
Statement  pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused this Amendment to its  Registration  Statement to be signed on its behalf
by the  undersigned,  thereunto  duly  authorized,  in the City of New York, and
State of New York, on the day of May, 1995.


                                                            CORTLAND TRUST, INC.



                                                      By:\s\Dennis C. Borecki
                                                            Dennis C. Borecki
                                                            President


         Pursuant  to the  requirements  of the  Securities  Act of  1933,  this
Amendment to its  Registration  Statement has been signed below by the following
persons in the capacities and on the dates indicated.


         SIGNATURE                           CAPACITY                  DATE

(1)      Principal Executive Officer



         \s\Kenneth C. Ebbitt               Chairman &
         Kenneth C. Ebbitt                   Director                   5/  /95


(2)      Principal Financial and Accounting Officer



         \s\Richard De Sanctis            Vice President &
         Richard De Sanctis                  Treasurer                  5/  /95


(3)      Majority of the Directors

         Owen Daly II                       Director
         Albert R. Dowden                   Director
         David C. Melnicoff                 Director
         James L. Schultz                   Director


By:      \s\Jules Buchwald                       
         Jules Buchwald
         Attorney-in-Fact                                               5/  /95

     * An  executed  copy of the power of  attorney  was filed as an  Exhibit to
Post-Effective  Amendment No. 10 to Registration  Statement No. 2-94935 on March
4, 1991.


<TABLE> <S> <C>

<ARTICLE>           6
<LEGEND>            The  schedule   contains   summary   financial   information
                    extracted  from  the  financial  statements  and  supporting
                    schedules  as of the end of the most  current  period and is
                    qualified in its  entirety by  reference  to such  financial
                    statements.
</LEGEND>
<CIK>               759699
<NAME>              Cortland Trust, Inc.
<SERIES>
<NUMBER>            1
<NAME>              Cortland General Money Market Fund
       
<S>                               <C>    
<FISCAL-YEAR-END>             MAR-31-1995
<PERIOD-START>                APR-01-1994
<PERIOD-END>                  MAR-31-1995
<PERIOD-TYPE>                 YEAR
<INVESTMENTS-AT-COST>         1001734602
<INVESTMENTS-AT-VALUE>        1001734602
<RECEIVABLES>                 3254384
<ASSETS-OTHER>                0
<OTHER-ITEMS-ASSETS>          0
<TOTAL-ASSETS>                1004988986
<PAYABLE-FOR-SECURITIES>      10005509
<SENIOR-LONG-TERM-DEBT>       0
<OTHER-ITEMS-LIABILITIES>     1129516
<TOTAL-LIABILITIES>           11135025
<SENIOR-EQUITY>               0
<PAID-IN-CAPITAL-COMMON>      996409993
<SHARES-COMMON-STOCK>         996409993
<SHARES-COMMON-PRIOR>         926399816
<ACCUMULATED-NII-CURRENT>     15947
<OVERDISTRIBUTION-NII>        0
<ACCUMULATED-NET-GAINS>       0
<OVERDISTRIBUTION-GAINS>      0
<ACCUM-APPREC-OR-DEPREC>      0
<NET-ASSETS>                  993853961
<DIVIDEND-INCOME>             0
<INTEREST-INCOME>             45166079
<OTHER-INCOME>                0
<EXPENSES-NET>                9522092
<NET-INVESTMENT-INCOME>       35643987
<REALIZED-GAINS-CURRENT>      (7013370)
<APPREC-INCREASE-CURRENT>     0
<NET-CHANGE-FROM-OPS>         28630617
<EQUALIZATION>                0
<DISTRIBUTIONS-OF-INCOME>     35628040
<DISTRIBUTIONS-OF-GAINS>      0
<DISTRIBUTIONS-OTHER>         0
<NUMBER-OF-SHARES-SOLD>       3635190794
<NUMBER-OF-SHARES-REDEEMED>   3600735365
<SHARES-REINVESTED>           35554748
<NET-CHANGE-IN-ASSETS>        67454145
<ACCUMULATED-NII-PRIOR>       0
<ACCUMULATED-GAINS-PRIOR>     0
<OVERDISTRIB-NII-PRIOR>       0
<OVERDIST-NET-GAINS-PRIOR>    0
<GROSS-ADVISORY-FEES>         7188114
<INTEREST-EXPENSE>            0
<GROSS-EXPENSE>               9674694
<AVERAGE-NET-ASSETS>          924660422
<PER-SHARE-NAV-BEGIN>         1.00
<PER-SHARE-NII>               .04
<PER-SHARE-GAIN-APPREC>       0
<PER-SHARE-DIVIDEND>          .04
<PER-SHARE-DISTRIBUTIONS>     0
<RETURNS-OF-CAPITAL>          0
<PER-SHARE-NAV-END>           1.00
<EXPENSE-RATIO>               1.03
<AVG-DEBT-OUTSTANDING>        0
<AVG-DEBT-PER-SHARE>          0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>           6
<LEGEND>            The  schedule   contains   summary   financial   information
                    extracted  from  the  financial  statements  and  supporting
                    schedules  as of the end of the most  current  period and is
                    qualified in its  entirety by  reference  to such  financial
                    statements.
</LEGEND>
<CIK>               759699
<NAME>              Cortland Trust, Inc.
<SERIES>            
<NUMBER>            2
<NAME>              U.S. Government Fund
       
<S>                               <C>    
<FISCAL-YEAR-END>             MAR-31-1995
<PERIOD-START>                APR-01-1994
<PERIOD-END>                  MAR-31-1995
<PERIOD-TYPE>                 YEAR
<INVESTMENTS-AT-COST>         218607165
<INVESTMENTS-AT-VALUE>        218607165
<RECEIVABLES>                 140738
<ASSETS-OTHER>                0
<OTHER-ITEMS-ASSETS>          0
<TOTAL-ASSETS>                218747903
<PAYABLE-FOR-SECURITIES>      0
<SENIOR-LONG-TERM-DEBT>       0
<OTHER-ITEMS-LIABILITIES>     440768
<TOTAL-LIABILITIES>           440768
<SENIOR-EQUITY>               0
<PAID-IN-CAPITAL-COMMON>      218984180
<SHARES-COMMON-STOCK>         218984180
<SHARES-COMMON-PRIOR>         234082321
<ACCUMULATED-NII-CURRENT>     0
<OVERDISTRIBUTION-NII>        0
<ACCUMULATED-NET-GAINS>       0
<OVERDISTRIBUTION-GAINS>      0
<ACCUM-APPREC-OR-DEPREC>      0
<NET-ASSETS>                  218307135
<DIVIDEND-INCOME>             0
<INTEREST-INCOME>             10486729
<OTHER-INCOME>                0
<EXPENSES-NET>                2287435
<NET-INVESTMENT-INCOME>       8199294
<REALIZED-GAINS-CURRENT>      (2047537)
<APPREC-INCREASE-CURRENT>     0
<NET-CHANGE-FROM-OPS>         6151757
<EQUALIZATION>                0
<DISTRIBUTIONS-OF-INCOME>     8199294
<DISTRIBUTIONS-OF-GAINS>      0
<DISTRIBUTIONS-OTHER>         0
<NUMBER-OF-SHARES-SOLD>       896820365
<NUMBER-OF-SHARES-REDEEMED>   920104435
<SHARES-REINVESTED>           8185929
<NET-CHANGE-IN-ASSETS>        (15775186)
<ACCUMULATED-NII-PRIOR>       0
<ACCUMULATED-GAINS-PRIOR>     0
<OVERDISTRIB-NII-PRIOR>       0
<OVERDIST-NET-GAINS-PRIOR>    0
<GROSS-ADVISORY-FEES>         1704092
<INTEREST-EXPENSE>            0
<GROSS-EXPENSE>               2305309
<AVERAGE-NET-ASSETS>          219214430
<PER-SHARE-NAV-BEGIN>         1.00
<PER-SHARE-NII>               .04
<PER-SHARE-GAIN-APPREC>       0
<PER-SHARE-DIVIDEND>          .04
<PER-SHARE-DISTRIBUTIONS>     0
<RETURNS-OF-CAPITAL>          0
<PER-SHARE-NAV-END>           1.00
<EXPENSE-RATIO>               1.04
<AVG-DEBT-OUTSTANDING>        0
<AVG-DEBT-PER-SHARE>          0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>           6
<LEGEND>            The  schedule   contains   summary   financial   information
                    extracted  from  the  financial  statements  and  supporting
                    schedules  as of the end of the most  current  period and is
                    qualified in its  entirety by  reference  to such  financial
                    statements.
</LEGEND>
<CIK>               759699
<NAME>              Cortland Trust, Inc.
<SERIES>
<NUMBER>            3
<NAME>              Municipal Money Market Fund
       
<S>                               <C>    
<FISCAL-YEAR-END>             MAR-31-1995
<PERIOD-START>                APR-01-1994
<PERIOD-END>                  MAR-31-1995
<PERIOD-TYPE>                 YEAR
<INVESTMENTS-AT-COST>         221647356
<INVESTMENTS-AT-VALUE>        221647356
<RECEIVABLES>                 2671290
<ASSETS-OTHER>                0
<OTHER-ITEMS-ASSETS>          0
<TOTAL-ASSETS>                3218747903
<PAYABLE-FOR-SECURITIES>      0
<SENIOR-LONG-TERM-DEBT>       0
<OTHER-ITEMS-LIABILITIES>     277686
<TOTAL-LIABILITIES>           277686
<SENIOR-EQUITY>               0
<PAID-IN-CAPITAL-COMMON>      224068398
<SHARES-COMMON-STOCK>         224068398
<SHARES-COMMON-PRIOR>         240596908
<ACCUMULATED-NII-CURRENT>     0
<OVERDISTRIBUTION-NII>        0
<ACCUMULATED-NET-GAINS>       0
<OVERDISTRIBUTION-GAINS>      0
<ACCUM-APPREC-OR-DEPREC>      0
<NET-ASSETS>                  224040960
<DIVIDEND-INCOME>             0
<INTEREST-INCOME>             7982225
<OTHER-INCOME>                0
<EXPENSES-NET>                2245432
<NET-INVESTMENT-INCOME>       5736793
<REALIZED-GAINS-CURRENT>      (754)
<APPREC-INCREASE-CURRENT>     0
<NET-CHANGE-FROM-OPS>         5736039
<EQUALIZATION>                0
<DISTRIBUTIONS-OF-INCOME>     5736793
<DISTRIBUTIONS-OF-GAINS>      0
<DISTRIBUTIONS-OTHER>         0
<NUMBER-OF-SHARES-SOLD>       885996924
<NUMBER-OF-SHARES-REDEEMED>   908253584
<SHARES-REINVESTED>           5728150
<NET-CHANGE-IN-ASSETS>        (16529264)
<ACCUMULATED-NII-PRIOR>       0
<ACCUMULATED-GAINS-PRIOR>     0
<OVERDISTRIB-NII-PRIOR>       0
<OVERDIST-NET-GAINS-PRIOR>    0
<GROSS-ADVISORY-FEES>         1755183
<INTEREST-EXPENSE>            0
<GROSS-EXPENSE>               2373052
<AVERAGE-NET-ASSETS>          225837404
<PER-SHARE-NAV-BEGIN>         1.00
<PER-SHARE-NII>               .03
<PER-SHARE-GAIN-APPREC>       0
<PER-SHARE-DIVIDEND>          .03
<PER-SHARE-DISTRIBUTIONS>     0
<RETURNS-OF-CAPITAL>          0
<PER-SHARE-NAV-END>           1.00
<EXPENSE-RATIO>               .99
<AVG-DEBT-OUTSTANDING>        0
<AVG-DEBT-PER-SHARE>          0
        

</TABLE>


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