<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 0000825650
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000 F000000 Y
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000 J000000 A
001 A000000 ACM GOVERNMENT SECURITIES FUND INC.
001 B000000 811-5402
001 C000000 8002474154
002 A000000 1345 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10105
003 000000 N
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008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
010 A000001 MITCHELL HUTCHINS ASSET MANAGEMENT
010 B000001 801-13219
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10019
011 A000001 PAINEWEBBER INC.
011 B000001 8-16267
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
012 A000001 STATE STREET BANK & TRUST COMPANY
012 B000001 85-505003
012 C010001 BOSTON
<PAGE> PAGE 2
012 C020001 MA
012 C030001 02110
013 A000001 ERNST & YOUNG LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10019
014 A000001 DONALDSON,LUFKIN,& JENRETTE SECURITIES CORP
014 B000001 8-17574
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
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015 C020001 MA
015 C030001 02171
015 E010001 X
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022 A000001 STATE STREET BANK
022 B000001 04-1867445
022 C000001 1664942
022 D000001 0
022 A000002 CS FIRST BOSTON CORP
022 B000002 13-5674085
022 C000002 458504
022 D000002 471685
022 A000003 GREENWICH CAPITAL
022 B000003 41-0321136
022 C000003 334292
022 D000003 295539
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 286168
022 D000004 318646
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 147383
022 D000005 121444
022 A000006 GOLDMAN SACHS
022 B000006 13-5108880
022 C000006 121335
<PAGE> PAGE 3
022 D000006 66109
022 A000007 JP MORGAN & CO
022 B000007 13-3224016
022 C000007 49768
022 D000007 136016
022 A000008 ING BANK
022 B000008 00-0000000
022 C000008 55278
022 D000008 33217
022 A000009 SOLOMON BROTHERS
022 B000009 13-6638923
022 C000009 50299
022 D000009 34021
022 A000010 DEUTSCHE MORGAN GRENFELL /CJ LAWRENCE
022 B000010 00-0000000
022 C000010 8020
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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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SIGNATURE C.WILLIAM MAHER
TITLE FIRST VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,049,631,870
<INVESTMENTS-AT-VALUE> 1,023,074,373
<RECEIVABLES> 11,731,602
<ASSETS-OTHER> 3,706,473
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,038,512,448
<PAYABLE-FOR-SECURITIES> 142,698,014
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 122,713,079
<TOTAL-LIABILITIES> 265,411,093
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 834,771,863
<SHARES-COMMON-STOCK> 77,850,706
<SHARES-COMMON-PRIOR> 77,850,706
<ACCUMULATED-NII-CURRENT> 6,629,494
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (32,017,987)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (36,282,015)
<NET-ASSETS> 773,101,355
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 42,081,090
<OTHER-INCOME> 0
<EXPENSES-NET> 7,555,929
<NET-INVESTMENT-INCOME> 34,525,161
<REALIZED-GAINS-CURRENT> (7,678,866)
<APPREC-INCREASE-CURRENT> (35,672,670)
<NET-CHANGE-FROM-OPS> (8,826,375)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 32,696,533
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (41,522,908)
<ACCUMULATED-NII-PRIOR> 4,800,866
<ACCUMULATED-GAINS-PRIOR> (24,339,121)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,025,682
<INTEREST-EXPENSE> 3,345,069
<GROSS-EXPENSE> 7,555,929
<AVERAGE-NET-ASSETS> 810,144,577
<PER-SHARE-NAV-BEGIN> 10.46
<PER-SHARE-NII> .44
<PER-SHARE-GAIN-APPREC> (.55)
<PER-SHARE-DIVIDEND> .42
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.93
<EXPENSE-RATIO> 1.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
ACM GOVERNMENT SECURITIES FUND, INC. Exhibit 77C
811-5402
The Annual Meeting of Shareholders of ACM Government Income Fund,
Inc. was held on May 28, 1998. A description of each proposal
and number of shares voted at the meeting are as follows:
1. To Elect Directors: Shares Voted For Withheld Authority
Class One Directors
(term expires 2001)
John H. Dobkin 69,282,011 1,000,010
Clifford L. Michel 68,333,9996 948,024
Donald J. Robinson 68,315,769 966,251
Class Two Director
(term expires 1999)
William H. Foulk, Jr. 68,345,256 936,764
2. To ratify the selection Shares Shares Voted Shares
of Ernst & Young LLP as Voted For Against Abstained
the Fund's independent
auditors for the Fund's
fiscal year ending
December 31, 1998. 68,164,371 266,085 851,565
<PAGE>
ACM GOVERNMENT SECURITIES FUND, INC. Exhibit 77Q2
811-5402
During the Fund's most recently completed fiscal year ended
December 31, 1997, the following individuals filed a late report
on Form 3.
Number of Number of
Name Title Late Reports Late Transactions
Paul J. DeNoon Vice President 1 0
