<PAGE> PAGE 1
000 A000000 04/30/94
000 C000000 0000811160
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 TOTAL RETURN U.S. TREASURY FUND, INC.
001 B000000 811-5040
001 C000000 4107271700
002 A000000 135 E. BALTIMORE STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 TOTAL RETURN U.S. TREASURY FUND, INC.
007 C030100 N
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
010 A00AA01 ALEX. BROWN & SONS INCORPORATED
010 B00AA01 31213
010 C01AA01 BALTIMORE
010 C02AA01 MD
010 C03AA01 21202
012 A00AA01 INVESTMENT COMPANY CAPITAL CORP.
012 B00AA01 84-5477
012 C01AA01 BALTIMORE
012 C02AA01 MD
012 C03AA01 21202
015 A00AA01 PNC BANK, N.A.
015 B00AA01 C
015 C01AA01 LESTER
015 C02AA01 PA
015 C03AA01 19113
015 E01AA01 X
018 00AA00 Y
<PAGE> PAGE 2
019 A00AA00 Y
019 B00AA00 10
019 C00AA00 FLAGINVEST
022 A000001 MORGAN (J.P.) SECURITIES INC.
022 B000001 13-3224016
022 C000001 3648500
022 D000001 0
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002 7108260
022 D000002 0
022 A000003 SAMPLE LYNCH
022 C000003 30877
022 D000003 136126
022 A000004 FIRST BOSTON CORPORATION (THE)
022 B000004 13-5659485
022 C000004 57071
022 D000004 58020
022 A000005 SALOMON BROTHERS INC.
022 B000005 13-3082694
022 C000005 105612
022 D000005 0
022 A000006 DILLON, READ & CO. INC.
022 B000006 13-2701093
022 C000006 6528
022 D000006 0
022 A000007 FUJI SECURITIES INC.
022 B000007 36-2880742
022 C000007 0
022 D000007 35008
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 10956848
023 D000000 229154
028 A01AA00 3448
028 A02AA00 1481
028 A03AA00 0
028 A04AA00 4806
028 B01AA00 6561
028 B02AA00 23826
028 B03AA00 0
028 B04AA00 10702
028 C01AA00 7071
028 C02AA00 1604
028 C03AA00 0
028 C04AA00 5822
028 D01AA00 6778
<PAGE> PAGE 3
028 D02AA00 1436
028 D03AA00 0
028 D04AA00 4713
028 E01AA00 11998
028 E02AA00 1447
028 E03AA00 0
028 E04AA00 12878
028 F01AA00 3921
028 F02AA00 1438
028 F03AA00 0
028 F04AA00 7215
028 G01AA00 39777
028 G02AA00 31232
028 G03AA00 0
028 G04AA00 46136
028 H00AA00 15621
029 00AA00 Y
030 A00AA00 468
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 66
031 B00AA00 0
032 00AA00 222
033 00AA00 180
042 A00AA00 0
042 B00AA00 0
042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 539
044 00AA00 0
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 14.5
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 1.8
062 M00AA00 83.7
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 1.8
<PAGE> PAGE 4
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 10.2
064 A00AA00 N
071 A00AA00 200088
071 B00AA00 229154
071 C00AA00 187246
071 D00AA00 58
072 A00AA00 6
072 B00AA00 11641
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 534
072 G00AA00 238
072 H00AA00 0
072 I00AA00 111
072 J00AA00 38
072 K00AA00 8
072 L00AA00 22
072 M00AA00 13
072 N00AA00 29
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 52
072 R00AA00 12
072 S00AA00 16
072 T00AA00 539
072 U00AA00 0
072 V00AA00 0
072 W00AA00 20
072 X00AA00 1632
072 Y00AA00 0
072 Z00AA00 10009
072AA00AA00 6446
072BB00AA00 163
072CC01AA00 0
072CC02AA00 41134
072DD01AA00 10009
072DD02AA00 0
072EE00AA00 37516
073 A01AA00 0.8800
073 A02AA00 0.0000
073 B00AA00 0.2900
073 C00AA00 0.0000
074 A00AA00 0
074 B00AA00 59738
074 C00AA00 0
074 D00AA00 343807
074 E00AA00 0
074 F00AA00 0
<PAGE> PAGE 5
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 8530
074 M00AA00 39
074 N00AA00 412114
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 1107
074 S00AA00 0
074 T00AA00 411007
074 U01AA00 42833
074 U02AA00 0
074 V01AA00 9.60
074 V02AA00 9.55
074 W00AA00 0.0000
074 X00AA00 10056
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 431530
076 00AA00 0.00
077 A000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 7750
081 A00AA00 Y
081 B00AA00 13
082 A00AA00 Y
082 B00AA00 100
SIGNATURE EDWARD J. VEILLEUX
TITLE VICE PRESIDENT
