<PAGE> PAGE 1
000 B000000 09/30/96
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008 D04AA01 2387
010 A00AA01 FIRSTAR TRUST COMPANY
010 C01AA01 MILWAUKEE
010 C02AA01 WI
010 C03AA01 53201
012 A00AA01 FIRSTAR TRUST COMPANY
012 B00AA01 85-00410
012 C01AA01 MILWAUKEE
012 C02AA01 WI
<PAGE> PAGE 2
012 C03AA01 53201
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 DALLAS
013 B02AA01 TX
013 B03AA01 75201
015 A00AA01 FIRSTAR TRUST COMPANY
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE ELIZABETH FOSTER
TITLE FUND SECRETARY
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<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT DATED SEPTEMBER 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH NSAR FILING DATED SEPTEMBER 30, 1996.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> CONCORDE VALUE FUND
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</TABLE>
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
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<SERIES>
<NUMBER> 02
<NAME> CONCORDE INCOME FUND
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<S> <C>
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</TABLE>
