<PAGE>
000 B000000 03/31/95
000 C000000 759699
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CORTLAND TRUST, INC.
001 B000000 811-4179
001 C000000 2128305220
002 A000000 600 FIFTH AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10020
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 CORTLAND GENERAL MONEY MARKET FUND
007 C030100 N
007 C010200 2
007 C020200 U.S. GOVERNMENT FUND
007 C030200 N
007 C010300 3
007 C020300 MUNICIPAL MONEY MARKET FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 REICH & TANG ASSET MANAGEMENT L.P.
008 B00AA01 A
008 C00AA01 801-47230
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10020
008 D04AA01 2302
011 A00AA01 REICH & TANG DISTRIBUTORS L.P.
011 B00AA01 8-43429
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10020
011 C04AA01 2302
012 A00AA01 FUNDTECH SERVICES L.P.
012 B00AA01 85-0000
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 19
019 C00AA00 REICHTANGI
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 FUJI BANK & TRUST
022 B000001 13-2794155
022 C000001 21071213
022 D000001 0
022 A000002 MORGAN (J.P.) SECURITIES INC.
022 B000002 13-3224016
022 C000002 27886775
022 D000002 119400
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC
022 B000003 13-5674085
022 C000003 1203357
022 D000003 23364
022 A000004 CANADIAN IMPERIAL BANK OF COMMERCE
022 B000004 13-1942440
022 C000004 532964
022 D000004 0
022 A000005 GENERAL MOTORS ACCEPTANCE CORP.
022 C000005 453202
022 D000005 2500
022 A000006 FORD MOTOR CREDIT COMPANY
022 B000006 38-1612444
022 C000006 283844
022 D000006 4708
022 A000007 PNC SECURITIES CORP..
022 B000007 25-1471636
022 C000007 240300
022 D000007 100
022 A000008 LEHMAN BROTHERS INC.
022 B000008 13-2518466
022 C000008 142694
022 D000008 42322
022 A000009 BANK OF AMERICA NT & SA
022 B000009 94-1687665
022 C000009 1065157
022 D000009 21880
022 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
022 C000010 1680185
022 D000010 6822
023 C000000 66122540
023 D000000 66668868
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 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 Y
054 E00AA00 Y
054 F00AA00 Y
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 Y
055 A00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
078 000000 N
080 A00AA00 LLOYDS
080 C00AA00 1500
081 A00AA00 Y
081 B00AA00 18
082 A00AA00 Y
082 B00AA00 100000
083 A00AA00 N
083 B00AA00 0
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010100 287963
028 A020100 2984
028 A030100 0
028 A040100 311256
028 B010100 301229
028 B020100 3165
028 B030100 0
028 B040100 293231
028 C010100 299333
028 C020100 3434
028 C030100 0
028 C040100 317923
028 D010100 381371
028 D020100 3815
028 D030100 0
028 D040100 356338
028 E010100 334569
028 E020100 3599
028 E030100 0
028 E040100 309803
028 F010100 402474
028 F020100 4167
028 F030100 0
028 F040100 362742
028 G010100 2006939
028 G020100 21164
028 G030100 0
028 G040100 1951293
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 2312
044 000100 2790
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 500
048 A020100 0.800
048 B010100 500
048 B020100 0.775
048 C010100 500
048 C020100 0.750
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.725
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
062 A000100 Y
062 B000100 0.0
062 C000100 5.8
062 D000100 17.7
062 E000100 0.0
062 F000100 0.0
062 G000100 15.9
062 H000100 0.0
062 I000100 47.7
062 J000100 0.0
062 K000100 0.0
062 L000100 12.9
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 18
063 B000100 0.0
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 45166
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 7188
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 15
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 0
072 S000100 0
072 T000100 2312
072 U000100 0
072 V000100 0
072 W000100 160
072 X000100 9675
072 Y000100 153
072 Z000100 35644
072AA000100 5
072BB000100 2577
072CC010100 0
072CC020100 0
072DD010100 35644
072DD020100 0
072EE000100 0
073 A010100 0.0384
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 24
074 B000100 175701
074 C000100 826034
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 3230
074 M000100 0
074 N000100 1004989
074 O000100 10006
074 P000100 848
074 Q000100 0
074 R010100 281
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 993854
074 U010100 996410
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9969
074 X000100 139530
074 Y000100 0
075 A000100 924660
075 B000100 0
076 000100 0.00
028 A010200 69790
028 A020200 665
028 A030200 0
028 A040200 78414
028 B010200 73384
028 B020200 693
028 B030200 0
028 B040200 69980
028 C010200 74856
028 C020200 754
028 C030200 0
028 C040200 79613
028 D010200 89629
028 D020200 841
028 D030200 0
028 D040200 77414
028 E010200 71691
028 E020200 797
028 E030200 0
028 E040200 75464
028 F010200 94647
028 F020200 925
028 F030200 0
028 F040200 88838
028 G010200 473997
028 G020200 4675
028 G030200 0
028 G040200 469723
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 548
044 000200 624
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500
048 A020200 0.800
048 B010200 500
048 B020200 0.775
048 C010200 500
048 C020200 0.750
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.725
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
053 B000200 Y
062 A000200 Y
062 B000200 0.0
062 C000200 93.7
062 D000200 6.3
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 19
063 B000200 0.0
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 12
072 B000200 10487
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 1704
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 15
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 0
072 T000200 548
072 U000200 0
072 V000200 0
072 W000200 39
072 X000200 2306
072 Y000200 18
072 Z000200 8199
072AA000200 8
072BB000200 685
072CC010200 0
072CC020200 0
072DD010200 8199
072DD020200 0
072EE000200 0
073 A010200 0.0377
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 13902
074 C000200 204705
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 141
074 M000200 0
074 N000200 218748
074 O000200 0
074 P000200 193
074 Q000200 0
074 R010200 248
074 R020200 0
074 R030200 0
074 R040200 0
074 S000200 0
074 T000200 218307
074 U010200 218984
074 U020200 0
074 V010200 1.00
074 V020200 0.00
074 W000200 0.9967
074 X000200 16622
074 Y000200 0
075 A000200 219214
075 B000200 0
076 000200 0.00
028 A010300 64390
028 A020300 495
028 A030300 0
028 A040300 66044
028 B010300 67555
028 B020300 514
028 B030300 0
028 B040300 67915
028 C010300 85361
028 C020300 569
028 C030300 0
028 C040300 100201
028 D010300 90531
028 D020300 564
028 D030300 0
028 D040300 85106
028 E010300 69093
028 E020300 535
028 E030300 0
028 E040300 68564
028 F010300 85852
028 F020300 598
028 F030300 0
028 F040300 75113
028 G010300 462782
028 G020300 3275
028 G030300 0
028 G040300 462943
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
042 A000300 0
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 565
044 000300 736
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 500
048 A020300 0.800
048 B010300 500
048 B020300 0.775
048 C010300 500
048 C020300 0.750
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.725
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 Y
053 B000300 Y
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 100.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 51
063 B000300 0.0
064 A000300 Y
064 B000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 N
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 N
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 12
072 B000300 7982
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 1755
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 15
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 565
072 U000300 0
072 V000300 0
072 W000300 38
072 X000300 2373
072 Y000300 128
072 Z000300 5737
072AA000300 2
072BB000300 3
072CC010300 0
072CC020300 0
072DD010300 5737
072DD020300 0
072EE000300 0
073 A010300 0.0255
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 912
074 B000300 0
074 C000300 223577
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 1760
074 N000300 226249
074 O000300 1930
074 P000300 191
074 Q000300 0
074 R010300 87
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 224041
074 U010300 224068
074 U020300 0
074 V010300 1.00
074 V020300 0.00
074 W000300 0.9999
074 X000300 10323
074 Y000300 0
075 A000300 225837
075 B000300 0
076 000300 0.00
SIGNATURE BERNADETTE N. FINN
TITLE SECRETARY
ERNST & YOUNG LLP 787 Seventh Avenue
New York, New York 10019
(212) 773-3000
Board of Trustees
Cortland Trust, Inc.
In planning and performing our audit of the financial statements of
Cortland Trust, Inc. for the year ended March 31, 1995, we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
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 Cortland Trust, Inc. 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 preparation of financial statements in confirmity
with generally accepted accounting principles.
Because of 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 become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the 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
March 31, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
ERNST & YOUNG LLP
May 8, 1995
<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>
