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SIGNATURE THOMAS G. ROSE
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> OCT-31-1997
<INVESTMENTS-AT-COST> 95566
<INVESTMENTS-AT-VALUE> 103103
<RECEIVABLES> 2112
<ASSETS-OTHER> 18
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 105233
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<SENIOR-EQUITY> 33600
<PAID-IN-CAPITAL-COMMON> 62644
<SHARES-COMMON-STOCK> 4652
<SHARES-COMMON-PRIOR> 4643
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (17)
<ACCUMULATED-NET-GAINS> 1252
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<OTHER-INCOME> 0
<EXPENSES-NET> 1154
<NET-INVESTMENT-INCOME> 5059
<REALIZED-GAINS-CURRENT> 1249
<APPREC-INCREASE-CURRENT> 802
<NET-CHANGE-FROM-OPS> 7110
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5059)
<DISTRIBUTIONS-OF-GAINS> (713)
<DISTRIBUTIONS-OTHER> (524)
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (70)
<SHARES-REINVESTED> 79
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<ACCUMULATED-NII-PRIOR> (15)
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 1154
<AVERAGE-NET-ASSETS> 103701
<PER-SHARE-NAV-BEGIN> 15.18
<PER-SHARE-NII> 1.09
<PER-SHARE-GAIN-APPREC> .43
<PER-SHARE-DIVIDEND> (1.09)
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</TABLE>
PROXY RESULTS
Stockholders of Seligman Quality Municipal
Fund voted on the following proposals at the Annual Meeting of Stockholders on
May 15, 1997, in Boston, MA. The description of each proposal and number of
shares voted are as follows:
ELECTION OF DIRECTORS:
FOR WITHHELD
--------- ----------
John R. Galvin 4,210,045 62,359
William C. Morris 4,211,510 60,894
James Q. Riordan 4,210,834 61,570
Richard R. Schmaltz 4,211,510 60,894
Robert L. Shafer 4,211,510 60,894
Brian T. Zino 4,211,510 60,894
RATIFICATION OF DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS FOR 1997:
FOR AGAINST ABSTAIN
--------- --------- ---------
4,184,677 17,572 70,155
2
INDEPENDENT AUDITORS' REPORT
The Board of Directors
Seligman Quality Municipal Fund, Inc.
In planning and performing our audit of the financial statements of Seligman
Quality Municipal Fund, Inc. (the "Fund") for the year ended October 31, 1997,
we considered its internal control, including controls over safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and may not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may be become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of any
specific internal control component does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal control,
including controls over safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
November 28, 1997
/s/Deloitte & Touche LLP
---------------------
Deloitte & Touche LLP
