EXHIBIT 25

                        POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person whose

signature appears below hereby revokes all prior powers granted

by the undersigned to the extent inconsistent herewith and

constitutes and appoints David R. Brewer, Jr., Myles Itkin and

Robert H. Joseph, Jr. and each of them, to act severally as

attorneys-in-fact and agents, with power of substitution and

resubstitution, of the undersigned in any and all capacities,

solely for the sole purpose of signing the Registration Statement

and any amendments thereto on Form S-8 relating to the Profit

Sharing Plan for Employees of Alliance Capital Management L.P.

and filing the same, with exhibits thereto, and other documents

in connection therewith, with the Securities and Exchange

Commission, hereby ratifying and confirming all that said

attorneys-in-fact, or their substitute or substitutes, may do or

cause to be done by virtue hereof.



                                  /s/James M. Benson  
                                  --------------------
                                     James M. Benson



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Bruce W. Calvert   
                                  ----------------------
                                     Bruce W. Calvert



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/John D. Carifa    
                                  ---------------------
                                     John D. Carifa



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Benjamin D. Holloway  
                                  -------------------------
                                     Benjamin D. Holloway



Dated:  June 22, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Richard H. Jenrette  
                                  ------------------------
                                     Richard H. Jenrette



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Brian S. O'Neil   
                                  ---------------------
                                     Brian S. O'Neil



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Frank Savage    
                                  -------------------
                                     Frank Savage



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Madelon DeVoe Talley  
                                  -------------------------
                                     Madelon DeVoe Talley



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Dave H. Williams   
                                  ----------------------
                                     Dave H. Williams



Dated:  June 30, 1994






                     POWER OF ATTORNEY



         KNOW ALL MEN BY THESE PRESENTS, that the person

whose signature appears below hereby revokes all prior

powers granted by the undersigned to the extent inconsistent

herewith and constitutes and appoints David R. Brewer, Jr.,

Myles Itkin and Robert H. Joseph, Jr. and each of them, to

act severally as attorneys-in-fact and agents, with power of

substitution and resubstitution, of the undersigned in any

and all capacities, solely for the sole purpose of signing

the Registration Statement and any amendments thereto on

Form S-8 relating to the Profit Sharing Plan for Employees

of Alliance Capital Management L.P. and filing the same,

with exhibits thereto, and other documents in connection

therewith, with the Securities and Exchange Commission,

hereby ratifying and confirming all that said attorneys-in-

fact, or their substitute or substitutes, may do or cause to

be done by virtue hereof.



                                  /s/Reba White Williams  
                                  ------------------------
                                     Reba White Williams



Dated:  June 30, 1994