<PAGE> PAGE 1
000 B000000 12/31/94
000 C000000 867575
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
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001 C000000 2126685770
002 A000000 110 WALL STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10005
003 000000 N
004 000000 N
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006 000000 N
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 HUDSON CAPITAL ADVISORS INC.
008 B00AA01 A
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008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10022
010 A00AA01 FAHNESTOCK & CO. INC.
010 B00AA01 801-04077
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10005
011 A00AA01 FAHNESTOCK & CO. INC.
011 B00AA01 8-04077
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10005
012 A00AA01 INVESTORS FIDUCIARY TRUST CO.
<PAGE> PAGE 2
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 FAHNESTOCK & CO. INC.
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015 A00AA01 INVESTORS FIDUCIARY TRUST CO.
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
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019 A00AA00 N
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020 B000001 13-5657518
020 C000001 35
020 A000002 PAINE WEBBER INC.
020 B000002 13-2638166
020 C000002 13
020 A000003 CANTOR & WEISS INC.
020 B000003 13-3521638
020 C000003 11
020 A000004 MERRILL LYNCH, PIERCE FENNER & SMITH INC.
020 B000004 13-5674085
020 C000004 8
020 A000005 NEUBERGER BERMAN
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020 C000005 4
020 A000006 SOLOMON BROTHERS INC.
020 B000006 13-3082694
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020 A000007 GOLDMAN CAPITAL MANAGEMENT, INC.
020 B000007 13-3279572
020 C000007 2
020 A000008 SANFORD C. BERNSTEIN
020 B000008 13-2625874
020 C000008 2
020 A000009 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
020 B000009 13-2741729
020 C000009 2
020 A000010 FIRST BOSTON CORPORATION (THE)
020 B000010 13-5659485
020 C000010 1
021 000000 92
022 A000001 GOLDMAN SACHS & CO.
<PAGE> PAGE 3
022 B000001 13-5108880
022 C000001 1846
022 D000001 830
022 A000002 BEAR, STEARNS & CO. INC.
022 B000002 13-3299429
022 C000002 864
022 D000002 863
022 A000003 WERTHEIM SCHRODER & CO. INCORPORATED
022 B000003 13-2697271
022 C000003 1062
022 D000003 207
022 A000004 MONTGOMERY SECURITIES
022 B000004 94-1701676
022 C000004 0
022 D000004 1185
022 A000005 CANTOR & WEISS
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022 C000005 0
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022 C000006 259
022 D000006 667
022 A000007 ERNST & COMPANY
022 B000007 13-5057900
022 C000007 309
022 D000007 590
022 A000008 MORGAN STANLEY & CO. INCORPORATED
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022 C000008 765
022 D000008 106
022 A000009 LEHMAN BROTHERS INC.
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022 C000009 718
022 D000009 103
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000010 13-5674085
022 C000010 202
022 D000010 472
023 C000000 7775
023 D000000 8621
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<PAGE> PAGE 4
026 B000000 Y
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<PAGE> PAGE 5
039 00AA00 N
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048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
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<PAGE> PAGE 6
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
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066 F00AA00 N
066 G00AA00 N
067 00AA00 N
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068 B00AA00 N
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<PAGE> PAGE 7
070 A02AA00 N
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070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
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070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
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<PAGE> PAGE 8
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074 D00AA00 2020
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<PAGE> PAGE 9
074 V02AA00 0.00
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075 B00AA00 17642
076 00AA00 0.00
077 A000000 Y
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077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 NAT'L UNION FIRE INSURANCE CO OF PITTSBURG PA
080 C00AA00 250
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 N
085 B00AA00 N
SIGNATURE CHARLES PADGETT
TITLE SECRETARY
