CORTLAND TRUST INC
NSAR-A, 1996-11-26
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000 A000000 09/30/96
000 C000000 0000759699
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 CORTLAND TRUST, INC.
012 B00AA01 84-1281
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10020
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
022 A000001 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000001 36-3595942
022 C000001    128666
022 D000001     28800
022 A000002 MORGAN (J.P.) SECURITIES INC.
022 B000002 13-3224016
022 C000002  17249187
022 D000002     68120
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC
022 B000003 13-5674085
022 C000003    502421
022 D000003     65924
022 A000004 CANADIAN IMPERIAL BANK OF COMMERCE
022 B000004 13-1942440
022 C000004    160462
022 D000004         0
022 A000005 GENERAL MOTORS ACCEPTANCE CORP.
022 C000005    198880
022 D000005         0
022 A000006 CHASE SECURITIES INC.
022 B000006 13-3112953
022 C000006    476752
022 D000006     49896
022 A000007 MORGAN STANLEY & CO., INCORPORATED
022 B000007 13-2655998
022 C000007    134087
022 D000007     28200
022 A000008 GOLDMAN, SACHS & CO.
022 B000008 13-5108880
022 C000008    139195
022 D000008     18200
022 A000009 BANK OF AMERICA NT & SA
022 B000009 94-1687665
022 C000009    933429
022 D000009     64697
022 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
022 C000010  16578000
022 D000010         0
023 C000000   36972454
023 D000000     479526
024  00AA00 N
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
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036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 Y
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054 D00AA00 Y
054 E00AA00 Y
054 F00AA00 Y
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054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 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 N
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
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
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048 I020100 0.000
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048 J020100 0.000
048 K010100        0
048 K020100 0.725
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050  000100 N
051  000100 N
052  000100 N
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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
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072 X000100     7097
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072 Z000100    30918
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074 B000100   117000
074 C000100  1127525
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074 L000100     3626
074 M000100        0
074 N000100  1249650
074 O000100        0
074 P000100      781
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074 V020100     1.00
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028 C020200      1026
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028 D010200     64482
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028 E010200     42192
028 E020200       732
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028 E040200     39844
028 F010200     46028

028 F020200 759
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028 F040200     39178
028 G010200    403981
028 G020200      5762
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028 G040200    500612
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033  000200      0
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042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
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044  000200    477
045  000200 Y
046  000200 N
047  000200 Y
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048 A020200 0.800
048 B010200      500
048 B020200 0.775
048 C010200      500
048 C020200 0.750
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048 E020200 0.000
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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
053 C000200 N
062 A000200 Y
062 B000200   4.7
062 C000200  90.2
062 D000200   4.3
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
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062 L000200   0.8
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062 Q000200   0.0
062 R000200   0.0
063 A000200  36
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
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072 B000200     6970
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073 A020200   0.0222
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073 C000200   0.0000
074 A000200     1105
074 B000200     9000
074 C000200   200964
074 D000200        0
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074 R020200        0
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074 T000200   211702
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074 U020200    47358
074 V010200     1.00
074 V020200     1.00
074 W000200   0.9969
074 X000200     6636
074 Y000200        0
075 A000200   263175
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028 F040300     49278
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048 B020300 0.775
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049  000300 N
050  000300 N
051  000300 N
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070 B020300 N
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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
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070 P020300 N
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076  000300     0.00
SIGNATURE       BERNADETTE N. FINN
TITLE           SECRETARY



<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>               0000759699
<NAME>              Cortland Trust, Inc.
<SERIES>
<NUMBER>            1
<NAME>              Cortland General Money Market Fund
       
<S>                               <C>    
<FISCAL-YEAR-END>             MAR-31-1997
<PERIOD-START>                APR-01-1996
<PERIOD-END>                  SEP-30-1996
<PERIOD-TYPE>                 YEAR
<INVESTMENTS-AT-COST>         1244525233
<INVESTMENTS-AT-VALUE>        1244525233
<RECEIVABLES>                 3625726
<ASSETS-OTHER>                1498571
<OTHER-ITEMS-ASSETS>          0
<TOTAL-ASSETS>                1249649530
<PAYABLE-FOR-SECURITIES>      0
<SENIOR-LONG-TERM-DEBT>       0
<OTHER-ITEMS-LIABILITIES>     1187950
<TOTAL-LIABILITIES>           1187950
<SENIOR-EQUITY>               0
<PAID-IN-CAPITAL-COMMON>      1250798652
<SHARES-COMMON-STOCK>         1250798652
<SHARES-COMMON-PRIOR>         1512442635
<ACCUMULATED-NII-CURRENT>     28199
<OVERDISTRIBUTION-NII>        0
<ACCUMULATED-NET-GAINS>       (2365271)
<OVERDISTRIBUTION-GAINS>      0
<ACCUM-APPREC-OR-DEPREC>      0
<NET-ASSETS>                  1248461580
<DIVIDEND-INCOME>             0
<INTEREST-INCOME>             37971386
<OTHER-INCOME>                0
<EXPENSES-NET>                7053288
<NET-INVESTMENT-INCOME>       30918098
<REALIZED-GAINS-CURRENT>      24344
<APPREC-INCREASE-CURRENT>     0
<NET-CHANGE-FROM-OPS>         30942442
<EQUALIZATION>                0
<DISTRIBUTIONS-OF-INCOME>     31040073
<DISTRIBUTIONS-OF-GAINS>      0
<DISTRIBUTIONS-OTHER>         0
<NUMBER-OF-SHARES-SOLD>       2639563231
<NUMBER-OF-SHARES-REDEEMED>   2932639438
<SHARES-REINVESTED>           31432224
<NET-CHANGE-IN-ASSETS>        (261741614)
<ACCUMULATED-NII-PRIOR>       150174
<ACCUMULATED-GAINS-PRIOR>     (2389615)
<OVERDISTRIB-NII-PRIOR>       0
<OVERDIST-NET-GAINS-PRIOR>    0
<GROSS-ADVISORY-FEES>         5838061
<INTEREST-EXPENSE>            0
<GROSS-EXPENSE>               7097376
<AVERAGE-NET-ASSETS>          1405630171
<PER-SHARE-NAV-BEGIN>         1.00
<PER-SHARE-NII>               .02
<PER-SHARE-GAIN-APPREC>       0
<PER-SHARE-DIVIDEND>          .02
<PER-SHARE-DISTRIBUTIONS>     0
<RETURNS-OF-CAPITAL>          0
<PER-SHARE-NAV-END>           1.00
<EXPENSE-RATIO>               1.02
<AVG-DEBT-OUTSTANDING>        0
<AVG-DEBT-PER-SHARE>          0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>           6
<LEGEND>            The  schedule   contains   summary   financial   information
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<NAME>              Cortland Trust, Inc.
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<NAME>              U.S. Government Fund
       
<S>                               <C>    
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<TABLE> <S> <C>

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                    schedules  as of the end of the most  current  period and is
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<CIK>               0000759699
<NAME>              Cortland Trust, Inc.
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<NUMBER>            3
<NAME>              Municipal Money Market Fund
       
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</TABLE>


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