EXHIBIT 23.2




The Board of Directors
Alliance Capital Management Corporation



We consent to the inclusion of our report dated February 21, 1996, with respect
to the balance sheets of Cursitor Holdings, L.P. as of December 31, 1995 and
1994, and the related statements of income, cash flows and changes in partners'
capital for each of the years in the two-year period ended December 31, 1995,
which report appears in the Form 8-K as amended of Alliance Capital Management
L.P. dated May 6, 1996.




                                         Lopez Edwards Frank & Co., LLP
New York, New York
May 6, 1996