MELLON EQUITY ASSOCIATES
13F-E, 1995-02-10
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    12/31/94                                                                        
                                                                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
MELLON EQUITY ASSOCIATES                                                                                                          
ONE MELLON BANK CENTER                                                                                                            
ROOM 3715                                                                                                                         
PITTSBURGH                                        PA            15258-0001                                                        
                                                                                                                                  
                                                                                                                                  
Assets reportable under Section 13(F) of the Securities                                                                           
Exchange Act of 1934 are included in the report on                                                                                
Form 13F of the reporting institution's parent company,                                                                           
Mellon Bank, N.A., to which reference is hereby made.                                                                             
                                                                                                                                  
                                                                                                                                  
Name, Title and Telephone Number of Person Submitting Report:                                                                     
                                                                                                                                  
    STEPHEN A. YODER               ASSISTANT GENERAL COUNSEL    412-234-2053                                                      
                                                                                                                                  
                                                                                                                                  
Signature, Place and Date of Signing:                                                                                             
                                                                                                                                  
/s/ STEPHEN A. YODER               PITTSBURGH                   PA    02/09/95                                                    
                                                                                                                                  
                                                                                                                                  
Managers Reporting on Behalf of Reporting Manager:                                                                                
                                                                                                                                  
MELLON BANK, N.A.                                               028-00620                                                         
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
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                                                           VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-      SOLE   SHARED    NONE
                                                                                                                                  
REPORT SUMMARY                  0 DATA RECORDS                   0            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED    
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