PIPER TRUST FUNDS INC
NSAR-B, 1995-02-28
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<PAGE>      PAGE  1
000 B000000 12/31/94
000 C000000 0000913363
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
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000 J000000 A
001 A000000 PIPER TRUST FUNDS, INC.
001 B000000 811-8072
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002 D010000 55402
003  000000 N
004  000000 N
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007 C030100 N
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010 B00AA01 85-1196
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<PAGE>      PAGE  7
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<PAGE>      PAGE  10
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SIGNATURE   WENDY MCGEE                                  
TITLE       LEGAL ASSISTANT     
 


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<NAME> PIPER TRUST FUNDS, INC.
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<CIK> 0000913363
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