<PAGE> PAGE 1
000 A000000 01/31/98
000 C000000 0000095669
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 ALLIANCE GLOBAL SMALL CAP FUND, INC.
001 B000000 811-01415
001 C000000 2013194000
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
011 A000001 ALLIANCE FUND DISTRIBUTORS, INC.
011 B000001 8-30851
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10105
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
012 C020001 NJ
012 C030001 07096
013 A000001 ERNST & YOUNG LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10019
014 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
014 B000001 8-00017574
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018 000000 Y
<PAGE> PAGE 2
019 A000000 Y
019 B000000 54
019 C000000 ALLIANCECA
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000001 13-5674085
020 C000001 22
020 A000002 SMITH BARNEY INC.
020 B000002 13-1912900
020 C000002 21
020 A000003 BROWN (ALEX) & SONS, INC.
020 B000003 52-1319768
020 C000003 16
020 A000004 TOKYO SECURITIES CO., LTD.
020 B000004 13-3447293
020 C000004 14
020 A000005 PRUDENTIAL SECURITIES INC.
020 B000005 22-2347336
020 C000005 12
020 A000006 MORGAN STANLEY AND CO., INC.
020 B000006 13-2655998
020 C000006 12
020 A000007 NOMURA SECURITIES INTERNATIONAL INC.
020 B000007 13-2642206
020 C000007 12
020 A000008 BEAR, STEARNS SECURITIES INC.
020 B000008 13-3299429
020 C000008 12
020 A000009 CS FIRST BOSTON CORP.
020 B000009 13-5659485
020 C000009 12
020 A000010 JAMES CAPEL & CO., LTD.
020 B000010 52-1348224
020 C000010 10
021 000000 299
022 A000001 GENERAL ELECTRIC CREDIT CORP.
022 B000001 13-5409205
022 C000001 79745
022 D000001 0
022 A000002 PRUDENTIAL SECURITIES INC.
022 B000002 22-2347336
022 C000002 62624
022 D000002 685
022 A000003 AMERICAN EXPRESS CREDIT CORP.
022 B000003 11-1988350
022 C000003 58037
022 D000003 0
022 A000004 FORD MOTOR CREDIT CORP.
022 B000004 38-1012444
022 C000004 36858
022 D000004 0
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH
<PAGE> PAGE 3
022 B000005 13-5674085
022 C000005 6257
022 D000005 1270
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006 2591
022 D000006 2897
022 A000007 STATE STREET BANK AND TRUST CO.
022 B000007 04-1867445
022 C000007 4714
022 D000007 0
022 A000008 GOLDMAN, SACHS & CO.
022 B000008 13-5108880
022 C000008 2623
022 D000008 1793
022 A000009 CS FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 2795
022 D000009 1026
022 A000010 SCHWAB (CHARLES) & CO., INC.
022 B000010 94-1737782
022 C000010 174
022 D000010 3423
023 C000000 279440
023 D000000 29323
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025 D000001 0
025 D000002 0
025 D000003 0
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<PAGE> PAGE 4
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028 F040000 5695
028 G010000 33331
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028 G040000 24058
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030 A000000 73
030 B000000 4.25
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 H010000 N
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<PAGE> PAGE 8
072 Z000000 -914
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<PAGE> PAGE 9
077 G000000 N
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077 L000000 N
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077 Q030000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 B000000 GULF INSURANCE CO.
080 C000000 86000
081 A000000 Y
081 B000000 103
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
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SIGNATURE CATHY WHITE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000095669
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JAN-31-1998
<INVESTMENTS-AT-COST> 121,036,214
<INVESTMENTS-AT-VALUE> 129,635,712
<RECEIVABLES> 1,396,333
<ASSETS-OTHER> 825,111
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,857,156
<PAYABLE-FOR-SECURITIES> 494,789
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<OTHER-ITEMS-LIABILITIES> 1,110,596
<TOTAL-LIABILITIES> 1,605,385
<SENIOR-EQUITY> 115,665
<PAID-IN-CAPITAL-COMMON> 118,758,096
<SHARES-COMMON-STOCK> 7,426,724
<SHARES-COMMON-PRIOR> 6,621,562
<ACCUMULATED-NII-CURRENT> (1,228,777)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,686,277
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,920,510
<NET-ASSETS> 130,251,771
<DIVIDEND-INCOME> 403,908
<INTEREST-INCOME> 228,234
<OTHER-INCOME> 0
<EXPENSES-NET> (1,546,465)
<NET-INVESTMENT-INCOME> (914,323)
<REALIZED-GAINS-CURRENT> 6,000,748
<APPREC-INCREASE-CURRENT> (8,572,735)
<NET-CHANGE-FROM-OPS> (3,486,310)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (6,916,368)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,239,333
<NUMBER-OF-SHARES-REDEEMED> (925,459)
<SHARES-REINVESTED> 491,288
<NET-CHANGE-IN-ASSETS> 4,037,248
<ACCUMULATED-NII-PRIOR> (314,454)
<ACCUMULATED-GAINS-PRIOR> 8,544,970
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 660,000
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<PER-SHARE-NAV-BEGIN> 12.87
<PER-SHARE-NII> (0.07)
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<PER-SHARE-NAV-END> 11.56
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</TABLE>
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<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<SERIES>
<NUMBER> 002
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<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JAN-31-1998
<INVESTMENTS-AT-COST> 121,036,214
<INVESTMENTS-AT-VALUE> 129,635,712
<RECEIVABLES> 1,396,333
<ASSETS-OTHER> 825,111
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,857,156
<PAYABLE-FOR-SECURITIES> 494,789
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,110,596
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<SENIOR-EQUITY> 115,665
<PAID-IN-CAPITAL-COMMON> 118,758,096
<SHARES-COMMON-STOCK> 3,338,231
<SHARES-COMMON-PRIOR> 2,654,983
<ACCUMULATED-NII-CURRENT> (1,228,777)
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,920,510
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<DIVIDEND-INCOME> 403,908
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<EXPENSES-NET> (1,546,465)
<NET-INVESTMENT-INCOME> (914,323)
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<APPREC-INCREASE-CURRENT> (8,572,735)
<NET-CHANGE-FROM-OPS> (3,486,310)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3,117,971)
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<NUMBER-OF-SHARES-SOLD> 1,212,897
<NUMBER-OF-SHARES-REDEEMED> (786,879)
<SHARES-REINVESTED> 257,230
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 660,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,546,000
<AVERAGE-NET-ASSETS> 35,715,434
<PER-SHARE-NAV-BEGIN> 12.03
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> (0.22)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.71
<EXPENSE-RATIO> 2.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000095669
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JAN-31-1998
<INVESTMENTS-AT-COST> 121,036,214
<INVESTMENTS-AT-VALUE> 129,635,712
<RECEIVABLES> 1,396,333
<ASSETS-OTHER> 825,111
<OTHER-ITEMS-ASSETS> 0
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<OTHER-ITEMS-LIABILITIES> 1,110,596
<TOTAL-LIABILITIES> 1,605,385
<SENIOR-EQUITY> 115,665
<PAID-IN-CAPITAL-COMMON> 118,758,096
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<SHARES-COMMON-PRIOR> 723,219
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<DIVIDEND-INCOME> 403,908
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<OTHER-INCOME> 0
<EXPENSES-NET> (1,546,465)
<NET-INVESTMENT-INCOME> (914,323)
<REALIZED-GAINS-CURRENT> 6,000,748
<APPREC-INCREASE-CURRENT> (8,572,735)
<NET-CHANGE-FROM-OPS> (3,486,310)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (796,537)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 336,404
<NUMBER-OF-SHARES-REDEEMED> (357,582)
<SHARES-REINVESTED> 69,786
<NET-CHANGE-IN-ASSETS> 4,037,248
<ACCUMULATED-NII-PRIOR> (314,454)
<ACCUMULATED-GAINS-PRIOR> 8,544,970
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 660,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,546,000
<AVERAGE-NET-ASSETS> 8,931,933
<PER-SHARE-NAV-BEGIN> 12.05
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> (0.22)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.73
<EXPENSE-RATIO> 2.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000095669
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> ALLIANCE GLOBAL SMALL CAP FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JAN-31-1998
<INVESTMENTS-AT-COST> 121,036,214
<INVESTMENTS-AT-VALUE> 129,635,712
<RECEIVABLES> 1,396,333
<ASSETS-OTHER> 825,111
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,857,156
<PAYABLE-FOR-SECURITIES> 494,789
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,110,596
<TOTAL-LIABILITIES> 1,605,385
<SENIOR-EQUITY> 115,665
<PAID-IN-CAPITAL-COMMON> 118,758,096
<SHARES-COMMON-STOCK> 29,734
<SHARES-COMMON-PRIOR> 25,857
<ACCUMULATED-NII-CURRENT> (1,228,777)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,686,277
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,920,510
<NET-ASSETS> 130,251,771
<DIVIDEND-INCOME> 403,908
<INTEREST-INCOME> 228,234
<OTHER-INCOME> 0
<EXPENSES-NET> (1,546,465)
<NET-INVESTMENT-INCOME> (914,323)
<REALIZED-GAINS-CURRENT> 6,000,748
<APPREC-INCREASE-CURRENT> (8,572,735)
<NET-CHANGE-FROM-OPS> (3,486,310)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (28,565)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,505
<NUMBER-OF-SHARES-REDEEMED> (1,721)
<SHARES-REINVESTED> 2,093
<NET-CHANGE-IN-ASSETS> 4,037,248
<ACCUMULATED-NII-PRIOR> (314,454)
<ACCUMULATED-GAINS-PRIOR> 8,544,970
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 660,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,546,000
<AVERAGE-NET-ASSETS> 348,559
<PER-SHARE-NAV-BEGIN> 12.89
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> (0.25)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.60
<EXPENSE-RATIO> 1.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
[DESCRIPTION]Report of 10f-3 Transactions
Securities Purchases in Underwritings Involving
Transactions with Donaldson, Lufkin, & Jenrette Securities Co
Subject to Rule 10f-3 Under the Investment Company Act of 1940
ALLIANCE GLOBAL SMALL CAP FUND
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD JUNE 1, 1997 THROUGH AUGUST 31, 1997
<CAPTION>
Total
Shares Shares % of Issue Shares
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets (1Share Fund Group (000) By Group (Broker(s) 08/31/97
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Cal Dive International 07/01/97 7,800 0.09% $15.00 126,700 3,600 3.52% Wertheim Schroder 0
Peritus Software 07/01/97 800 0.01% $16.00 34,300 3,500 0.98% Montgomery Securities 0
CCA Prison Realty 07/15/97 2,300 0.04% $21.00 46,000 18,500 0.25% J.C. Bradford 10,500
Friede Goldman 07/21/97 2,800 0.04% $17.00 150,000 4,665 3.22% Jeffries & Co. 0
CHS Electronics 07/25/97 3,400 0.08% $31.75 183,200 13,000 1.41% Raymond James 0
Carrizo Oil & Gas 08/06/97 6,400 0.06% $11.00 100,000 2,500 4.00% Lewco Securities 0
Ispat International 08/07/97 37,000 0.79% $27.00 126,500 25,000 0.51% CS First Boston 0
Steel Dynamics 08/13/97 10,100 0.20% $25.00 216,700 8,400 2.58% Morgan Stanley 30,500
Trendwest Resort 08/14/97 6,800 0.10% $18.00 105,000 2,875 3.65% Montgomery Securities 6,800
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD SEPTEMBER 1, 1997 THROUGH OCTOBER 5, 1997
<CAPTION>
Total
Date Shares % of FundPrice perPurchased bIssued Purchased Held
Security PurchasedPurchasedAssets Share Fund Group (000) By Group Broker(s) 10/05/97
<C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Avis Rent A Car 09/24/97 10,600 0.12% $17.00 188,300 19,500 0.97% Bear Stearns 38,100
Network Solutions 09/26/97 600 0.01% $18.00 29,000 3,300 0.88% Lewco 0
Ivex Packing 10/01/97 5,200 0.06% $16.00 87,500 8,400 1.04% Merrill Lynch 32,500
</TABLE>
1-Purchase may not exceed 3% of Fund's Total Assets.
2-Purchases by all Alliance Funds may not exceed the greater of (i) 4% of
the principal amount of the offering or (ii) $500,000 in principal amount,
but in no event may exeed 10% of the principal amount of the offering.
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD OCTOBER 6, 1997 THROUGH NOVEMBER 30, 1997
<CAPTION>
Total
Date Shares Price perPurchased bOffered Purchased Held
Security PurchasedPurchased Share Fund Group (000) By Group Broker(s) 11/30/97
<C> <C> <C> <C> <C> <C> <C> <C> <C>
Drill-Quip 10/23/97 3,600 $24.00 3,600 5,000 0.07% Morgan Stanley 0
Metromedia Fiber 10/29/97 3,900 $16.00 101,700 7,092 1.43% Salomon Brothers 0
IRI Intl Corp 11/13/97 7,600 $18.00 131,300 12,000 1.09% Lehman Brothers 7,600
Rayovac Corp 11/20/97 20,500 $14.00 350,000 6,700 5.22% Merrill Lynch 11,500
Meadowcraft Inc 11/25/97 9,900 $13.00 168,000 3,125 5.38% Edwards J.D. 9,900
</TABLE>
<TABLE>
10f-3 TRANSACTIONS FOR THE PERIOD DECEMBER 1, 1997 THROUGH FEBRUARY 28, 1998
<CAPTION>
Total
Date Shares Price perPurchased bOffered Purchased Held
Security PurchasedPurchased Share Fund Group (000) By Group Broker(s) 02/28/98
<C> <C> <C> <C> <C> <C> <C> <C> <C>
Princeton Video Image Inc.12/16/97 16,100 $7.00 299,400 4,000 7.49% Allen & Company Inc. 16,100
United Rentals Inc. 12/18/97 13,400 $13.50 249,500 7,000 3.56% Merrill Lynch 17,300
Global Telesystems Group 02/04/98 5,600 $20.00 5,600 11,100 0.05% Merrill Lynch 5,600
</TABLE>
* Unless otherwise indicated, the securities were part of an issue registered
under the Securities Act of 1933 and offered to the public.
**Indicates the puchase of an Eligible Rule 144A Security.
1) Purchases by all Alliance Funds, including the Fund, may not exceed: (a) if
purchased in an offering than an Eligible Rule 144A Offering, 25% of the
principal amount of the offering of such class; or (b) if purchased in an
Eligible Rule 144A Offering, 25% of the total of (i) the principal amount
of the offering of such class sold by the underwriters or members of the
selling syndicate to qualified institutional buyers, plus (ii) the principal
amount of the offering of such class in any concurrent public offering.
Alliance Global Small Cap Fund, Inc. Exhibit 77Q1(a)
811-01415_______
Articles of Incorporation: Incorporated by reference to Exhibit 1 to
Post-Effective Amendment No. 66 to Registrant's Registration Statement
on Form N-1A, filed with the Securities and Exchange Commission on
November 28, 1997.
By-Laws: Incorporated by reference to Exhibit 2 to Post-Effective
Amendment No. 43 to Registrant's Registration Statement on Form N-1A,
filed with the Securities and Exchange Commission on January 30, 1989.
Alliance Global Small Cap Fund, Inc. Exhibit 77Q1(e)
811-01415
Management Agreement: Incorporated by reference to Exhibit 5 to Post-
Effective Amendment No. 54 to Registrant's Registration Statement on
Form N-1A, filed with the Securities and Exchange Commission on March 2,
1993.
Alliance Global Small Cap Fund, Inc.
811-01415
Item 77I Terms of new or amended securities
In 1996, the Fund issued a new class of shares, Adviser Class
shares. Adviser Class shares, along with Class A, Class B, Class C
shares each represent an interest in the same portfolio of investments
of the Fund, have the same rights and are identical in all respects,
except that (i) Class A shares bear the expense of the initial sales
charge (or contingent deferred sales charge, when applicable) and Class
B and Class C shares bear the expense of the deferred sales charge, (ii)
Class B shares and Class C shares each bear the expense of a higher
distribution services fee than that borne by Class A shares, and Advisor
Class shares do not bear such a fee, (iii) Class B and Class C shares
bear higher transfer agency costs than that borne by Class A and Advisor
Class shares; (iv) each of Class A, Class B and Class C has exclusive
voting rights with respect to provisions of the Rule 12b-1 Plan pursuant
to which its distribution services fee is paid and other matters for
which separate class voting is appropriate under applicable law,
provided that, if the Fund submits to a vote of the Class A
shareholders, an amendment to the Rule 12b-1 Plan that would materially
increase the amount to be paid thereunder with respect to the Class A
shares, then such amendment will also be submitted to the Class B and
Advisor Class shareholders and the Class A, the Class B and the Advisor
Class shareholders will vote separately by class; and (v) Class B and
Advisor Class shares are subject to a conversion feature. Each class
has different exchange privileges and certain different shareholder
service options available.
