<PAGE> PAGE 1
000 B000000 10/31/95
000 C000000 0000811160
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 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
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 2238534
022 D000001 121677
022 A000002 DONALDSON, LUFKIN, JUNRETTE
022 B000002 13-2741729
022 C000002 340830
022 D000002 291318
022 A000003 SAMPLE LYNCH
022 B000003 N/A
022 C000003 129625
022 D000003 110484
022 A000004 DILLON, READ & CO. INC.
022 B000004 13-2701093
022 C000004 9631
022 D000004 45418
022 A000005 SMITH BARNEY HARRIS UPHAM
022 B000005 13-1912900
022 C000005 29380
022 D000005 16474
022 A000006 SALOMON BROTHERS
022 B000006 13-3082694
022 C000006 26423
022 D000006 15750
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
<PAGE> PAGE 2
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 2774423
023 D000000 601121
028 A01AA00 2077
028 A02AA00 1249
028 A03AA00 0
028 A04AA00 8109
028 B01AA00 2160
028 B02AA00 1205
028 B03AA00 0
028 B04AA00 6680
028 C01AA00 2204
028 C02AA00 1203
028 C03AA00 0
028 C04AA00 3882
028 D01AA00 2300
028 D02AA00 1205
028 D03AA00 0
028 D04AA00 4714
028 E01AA00 2940
028 E02AA00 1213
028 E03AA00 0
028 E04AA00 3454
028 F01AA00 2866
028 F02AA00 1202
028 F03AA00 0
028 F04AA00 6917
028 G01AA00 14547
028 G02AA00 7277
028 G03AA00 0
028 G04AA00 33756
028 H00AA00 10205
029 00AA00 Y
030 A00AA00 304
030 B00AA00 4.50
030 C00AA00 0.00
031 A00AA00 38
031 B00AA00 0
032 00AA00 235
033 00AA00 31
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 912
<PAGE> PAGE 3
044 00AA00 0
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 7.0
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 0.0
062 M00AA00 93.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 13.6
064 A00AA00 N
071 A00AA00 658047
071 B00AA00 650979
071 C00AA00 335804
071 D00AA00 194
072 A00AA00 12
072 B00AA00 24592
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 999
072 G00AA00 438
072 H00AA00 0
072 I00AA00 205
072 J00AA00 58
072 K00AA00 17
072 L00AA00 45
072 M00AA00 24
072 N00AA00 10
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 95
072 R00AA00 24
072 S00AA00 47
072 T00AA00 912
072 U00AA00 0
072 V00AA00 0
072 W00AA00 36
072 X00AA00 2910
072 Y00AA00 0
<PAGE> PAGE 4
072 Z00AA00 21682
072AA00AA00 15029
072BB00AA00 12233
072CC01AA00 36191
072CC02AA00 0
072DD01AA00 24229
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.6400
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 1
074 B00AA00 25240
074 C00AA00 0
074 D00AA00 340311
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 6057
074 M00AA00 84
074 N00AA00 371693
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 872
074 S00AA00 0
074 T00AA00 370821
074 U01AA00 36369
074 U02AA00 0
074 V01AA00 10.19
074 V02AA00 10.19
074 W00AA00 0.0000
074 X00AA00 3200
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 364906
076 00AA00 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 9000
<PAGE> PAGE 5
081 A00AA00 Y
081 B00AA00 13
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
SIGNATURE EDWARD J. VEILLEUX
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811160
<NAME> TOTAL RETURN U.S. TREASURY FUND, INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 364083957
<INVESTMENTS-AT-VALUE> 365551481
<RECEIVABLES> 6057783
<ASSETS-OTHER> 84204
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 371693468
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 872777
<TOTAL-LIABILITIES> 872777
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 369104537
<SHARES-COMMON-STOCK> 36397163
<SHARES-COMMON-PRIOR> 40731597
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 248630
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1467524
<NET-ASSETS> 370820691
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24592183
<OTHER-INCOME> 0
<EXPENSES-NET> 2909688
<NET-INVESTMENT-INCOME> 21682495
<REALIZED-GAINS-CURRENT> 2796088
<APPREC-INCREASE-CURRENT> 36191069
<NET-CHANGE-FROM-OPS> 60669652
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 21682495
<DISTRIBUTIONS-OF-GAINS> 2547458
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3306049
<NUMBER-OF-SHARES-REDEEMED> 9223749
<SHARES-REINVESTED> 1583266
<NET-CHANGE-IN-ASSETS> (4637298)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5746)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 999452
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2909688
<AVERAGE-NET-ASSETS> 364905991
<PER-SHARE-NAV-BEGIN> 9.22
<PER-SHARE-NII> .57
<PER-SHARE-GAIN-APPREC> 1.04
<PER-SHARE-DIVIDEND> .64
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.19
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>