<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 0000843164
000 D000000 N
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000 F000000 Y
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001 A000000 THE CHAPMAN FUNDS, INC.
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002 A000000 401 E. PRATT ST., 28TH FLOOR
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 2
007 C010100 1
007 C020100 CHAPMAN US TREASURY MONEY FUND
007 C030100 N
007 C010200 2
007 C020200 CHAPMAN INSTITUTIONAL CASH MANAGEMENT FUND
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007 C010300 3
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007 C010500 5
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007 C010700 7
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008 A00AA01 CHAPMAN CAPITAL MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-32849
008 D01AA01 BALTIMORE
008 D02AA01 MD
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010 A00AA01 CHAPMAN CAPITAL MANAGEMENT, INC.
010 B00AA01 801-32849
010 C01AA01 BALTIMORE
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011 A00AA01 THE CHAPMAN CO.
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<PAGE> PAGE 2
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012 A00AA01 CHAPMAN CAPITAL MANAGEMENT, INC.
012 B00AA01 84-00932
012 C01AA01 BALTIMORE
012 C02AA01 MD
012 C03AA01 21202
013 A00AA01 ERNST AND YOUNG LLP
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014 A00AA01 THE CHAPMAN CO.
014 B00AA01 8-37188
015 A00AA01 UNITED MISSOURI BANK
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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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SIGNATURE NATHAN A. CHAPMAN, JR.
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Schedule contains summary financial information extracted from the
Registrant's semi-annual financial statements dated April 30, 1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 38,220,798
<INVESTMENTS-AT-VALUE> 38,220,798
<RECEIVABLES> 2,361
<ASSETS-OTHER> 30,409
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38,253,568
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 233,884
<TOTAL-LIABILITIES> 233,884
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40,159,827
<SHARES-COMMON-STOCK> 40,159,827
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 40,159,827
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,190,585
<OTHER-INCOME> 0
<EXPENSES-NET> 162,642
<NET-INVESTMENT-INCOME> 1,027,943
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,027,943
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,027,943)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 91,538,986
<NUMBER-OF-SHARES-REDEEMED> (86,406,303)
<SHARES-REINVESTED> 655,710
<NET-CHANGE-IN-ASSETS> 5,788,393
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 108,460
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 178,264
<AVERAGE-NET-ASSETS> 43,501,660
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.0
<EXPENSE-RATIO> .75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
