<PAGE> PAGE 1
000 A000000 12/31/93
000 C000000 793072
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 MORGAN KEEGAN SOUTHERN CAPITAL FUND, INC.
001 B000000 811-4658
001 C000000 9105244100
002 A000000 50 N FRONT STREET
002 B000000 MEMPHIS
002 C000000 TN
002 D010000 38103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
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 A000001 SOUTHERN CAPITAL ADVISORS, INC.
008 B000001 A
008 C000001 801-27629
008 D010001 MEMPHIS
008 D020001 TN
008 D030001 38103
011 A000001 MORGAN KEEGAN & COMPANY, INC.
011 B000001 8-15001
011 C010001 MEMPHIS
011 C020001 TN
011 C030001 38103
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
<PAGE> PAGE 2
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
071 A000000 54172
071 B000000 40596
071 C000000 22642
071 D000000 179
072 A000000 12
074 N000000 51777
074 T000000 45577
075 A000000 0
075 B000000 37751
077 A000000 Y
SIGNATURE CHARLES D. MAXWELL
TITLE SECRETARY
