SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

Commission File Number 033-70814

FORM 10-K

Mark One

[X] 	ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE	ACT
     OF 1934

For the Fiscal Year Ended December 31, 1998

OR

[ ] 	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 	SECURITIES
    	EXCHANGE ACT OF 1934

DEUTSCHE FLOORPLAN RECEIVABLES, L.P.

State of Organization - Delaware
I.R.S. Employer Identification Number - 88-0310100

Principal Executive Offices
655 Maryville Centre Drive
St. Louis, Mo. 63141-5832
Telephone Number:  (314) 523-3000

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by a check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
1934 during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days.
Yes  X    No ___.

Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained,
to the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K.  [X]

As of March 16, 1998 the Registrant was controlled by its General Partner,
Deutsche Floorplan Receivables, Inc., a Nevada corporation.

TABLE OF CONTENTS


PART		ITEM

  I		1.		  Business
   		2. **
	   	3. *		Legal Proceedings
   		4. *		Submission of Matters to a Vote of Security	Holders

 II		5. *		Market for Registrant's Common Equity and
      					Related Stockholder Matters
		   6. **
		   7. **
		   8. **
   		9. **

III		10. **
   		11. **
	   	12. **
		   13. **

 IV		14. *		Exhibits, Financial Statements, Schedules and
       					Reports on Form 8-K

        				Signatures
				        Exhibit Index

*  Item prepared in compliance with Exemption Request Letters of April 25, 1994
   and June 30, 1994 as provided in the July 1, 1994 response letter from the
   Office of Chief Counsel, Division of Corporate Finance, United States
   Securities and Exchange Commission, addressed to Registrant as ITT Floorplan
   Receivables, L.P., which name was changed to Deutsche Floorplan
   Receivables, L.P.

** Omitted pursuant to Exemption Request Letters noted in previous
   [*] footnotes.

PART I

Item 1.

Business.

The Registrant is a limited partnership of which Deutsche Floorplan
Receivables, Inc. (formerly ITT Floorplan Receivables, Inc.), ("DFLP") a
Nevada corporation is the general partner and Deutsche Financial Services
Corporation (formerly ITT Commercial Finance Corp.) ("DFSC") a Nevada
corporation is the limited partner.  The Registrant was organized for
limited purposes, which include purchasing of receivables from DFSC and its
affiliates and transferring such receivables to third parties and any
activities incidental to and necessary or convenient for the accomplishment
of such purposes.

In accordance with such business purposes, the Registrant has formed Deutsche
Floorplan Receivables Master Trust, (formerly ITT Floorplan Receivables
Master Trust) ("Trust") pursuant to a Pooling and Servicing Agreement, dated
as of December 1, 1993, as amended and restated as of March 1, 1994 as
further amended as of January 24, 1996 and as amended and restated as of
October 1, 1996, among the Registrant as Seller, DFSC, as Servicer, and The
Chase Manhattan Bank (formerly Chemical Bank), as Trustee.
The Trust assets include receivables generated from time to time in a portfolio
of revolving financing arrangements among DFSC and its affiliates with certain
dealers and manufacturers to finance their inventory and accounts receivables.
The Trust, in turn offers from time to time certificates representing undivided
interests in the assets contained in the Trust.  As of December 31, 1998 the
Trust had [$2,031,747,000.00] of such certificates outstanding bearing
identifications as follows:

Floating Rate Asset Backed Certificates, Series 1994-1 aggregating
	$1,000,000,000.00
Floating Rate Asset Backed Certificates, Series 1996-1 Class A aggregating
	$1,000,000,000.00
Floating Rate Asset Backed Certificates, Series 1996-1 Class B aggregating
	$   31,747,000.00
Total Outstanding
	$2,031,747,000.00

Item 3.
Legal Proceedings.*

None

Item 4.
Submission of Matters to a Vote of Security Holders.*

None

PART II

Item 5.
Market for Registrant's Common Equity and Related Stockholder Matters.*

Registrant, on behalf of the Partnership reports that each series of
certificates issued by the trust is held by one (1) registered holder.  
There remains outstanding $2,031,747,000.00 of various series of Certificates,
each of which have no principal market.

PART IV

Item 14.
Exhibits, Financial Statement Schedules, and Reports on Form 8-K.*

(a) Financial Statements.

The Partnership includes as exhibits hereto the Annual Accountant's Statement
with respect to all series of Certificates issued and outstanding by Deutsche
Floorplan Receivables Master Trust.

(b) Reports on Form 8-K.

The Partnership has filed reports on Form 8-K for each month commencing
January 1998 and ending December 1998 reporting Item 5.  Other Events and
including therewith as an exhibit, the Distribution Date Statement for the
prior month's Collection Period with respect to ( i) the Series 1994-1
Certificates, (ii) the Series 1996-1, Class A Certificates, and (iii)
the Series 1996-1, Class B Certificates, all of which remain issued and
outstanding by Deutsche Floorplan Receivables Master Trust.

In addition, under Item 5. Other Events, the Partnership reported in Form 8-K,
certain specified distributions to Certificateholders made during such month.
Included with each Form 8-K, the Partnership filed as exhibits thereto copies
of the monthly Certificateholders' Statements required for such distributions.

SIGNATURES

Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.

			
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.

By:  	Deutsche Floorplan Receivables, Inc.
     	Its General Partner

By:  	/s/ Richard H. Schumacher
     	Richard H. Schumacher
     	President and Treasurer

      March 16, 1999

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed by the following persons on behalf of the Registrant
and in the capacities and on the dates indicated.

Signature/Title				                        	Date


/s/ Stephen J. Gentry 			                   March 16, 1999
Senior Vice President & Controller
Deutsche Floorplan Receivables, Inc.,
General Partner 

/s/ Richard C. Goldman				                  March 16, 1999
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

/s/ C. Don Brown					                       March 17, 1999
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

/s/ Phil Stout					                         March 17, 1999
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

EXHIBIT INDEX

                                       							   Incorporated by reference to	
Exhibit						                                    Exhibit in Registration 
Number		Title				                                Statement Number 333-10943


 2	     Plan of acquisition, reorganization,		
	       arrangement, liquidation or succession	  Not Applicable

 3	     Agreement of Limited Partnership of 		
       	Registrant						                         Exhibit 3.1
		
 4     	Instruments defining the rights of
	       security holders, including indentures	  Exhibits 4.1 & 4.2

 9	     Voting trust agreements				              Not Applicable

10	     Material Contracts				                   Exhibit 10.1

11	     Statement re computation of
       	per share earnings				                   Not Applicable

12	     Statement re computation of ratios		     Not Applicable

13	     Annual report of security holders,
	       Form 10-Q or quarterly reports
       	to security holders				                  None

16	     Letter re change in certifying		         
        accountant                               None

18	     Letter re changes in accounting
	       principles						                         None

21	     Subsidiaries of Registrant			            Not Applicable

22	     Published report regarding matters
	       submitted to vote of security holders	   None

23	     Consents of experts and counsel		        Not Applicable

24	     Power of attorney					                   Not Applicable

27	     Financial Data Schedule				              Not Applicable

99	     Additional Exhibits				                  Filed Herewith
       	(i)  Accountants' Annual Report          As EX-1