UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            -----------------------

                                   FORM 10-Q
                   Quarterly Report Under Section 13 or 15(d)
              of the United States Securities Exchange Act of 1934

                            -----------------------


For Quarter Ended September 30, 1995                Commission File No. 2-95011


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
             (Exact name of registrant as specified in its charter)


         Massachusetts                                               04-2846629
(State or other jurisdiction of                                (I.R.S. Employer
incorporation or organization)                              Identification No.)


    One Financial Center, 21st Floor, Boston, MA                          02111
(Address of principal executive offices)                             (Zip Code)


Registrant's telephone number, including area code               (617) 482-8000
                                                                ---------------


                                 Not Applicable
              (Former name, former address and former fiscal year,
                         if changed since last report)

Indicate by 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 of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                  Yes X   No 
                                     ___     ___

                             There are no Exhibits.

                                  Page 1 of 14

<PAGE>

<TABLE>
<CAPTION>

                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)


                                                           INDEX                                                    Page No.

Part I.       FINANCIAL INFORMATION

<S>           <C>                                                                                                   <C>
              Financial Statements

                    Balance Sheets as of September 30, 1995 and December 31, 1994                                         3

                    Statements of Operations For the Quarters Ended
                           September 30, 1995 and 1994 and the Nine Months Ended
                           September 30, 1995 and 1994                                                                    4

                    Statements of Cash Flows For the Nine Months Ended
                           September 30, 1995 and 1994                                                                    5

                    Notes to Financial Statements                                                                     6 - 8

              Management's Discussion and Analysis of Financial Condition and
                    Results of Operations                                                                           9 - 11

              Computer Equipment Portfolio                                                                               12

Part II.      OTHER INFORMATION

              Items 1 - 6                                                                                                13

              Signature                                                                                                  14
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                         Part I. FINANCIAL INFORMATION

                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                                 Balance Sheets

                                      Assets                                        (Unaudited)              (Audited)
                                                                                      9/30/95                 12/31/94
Investment property, at cost (note 3):
<S>                                                                               <C>                     <C>            
   Computer equipment                                                             $     1,547,087         $     3,574,018
     Less accumulated depreciation                                                      1,189,666               3,094,357
                                                                                        ---------               ---------
       Investment property, net                                                           357,421                 479,661

Cash and cash equivalents                                                                  52,502                 325,125
Marketable securities (notes 2 & 6)                                                        47,223                       -
Rents receivable, net (note 2)                                                             36,808                  10,842
                                                                                           ------                  ------

     Total assets                                                                 $       493,954         $       815,628
                                                                                  =       =======         =       =======

                        Liabilities and Partners' Equity
Liabilities:
   Current portion of long-term debt (note 5)                                     $        51,801         $        53,371
   Accounts payable and accrued expenses - affiliates (note 4)                             18,953                  31,461
   Accounts payable and accrued expenses                                                  131,235                 140,597
   Unearned rental income                                                                   2,241                  30,098
   Distribution payable                                                                     6,584                       -
   Long-term debt, less current portion (note 5)                                                -                  38,051
                                                                                            -----                  ------

     Total liabilities                                                                    210,814                 293,578
                                                                                          -------                 -------

Partners' equity:
   General Partner:
     Capital contribution                                                                   1,000                   1,000
     Cumulative net income                                                                537,632                 447,566
     Cumulative cash distributions                                                       (619,232)               (599,480)
                                                                                         --------                -------- 
                                                                                          (80,600)               (150,914)
                                                                                          -------                -------- 
   Limited Partners (25,020 Units):
     Capital contribution, net of offering costs                                       11,139,685              11,139,685
     Cumulative net income                                                                994,707                 923,384
     Cumulative cash distributions                                                    (11,765,405)            (11,390,105)
                                                                                      -----------             ----------- 
                                                                                          368,987                 672,964
                                                                                          -------                 -------
     Unrealized losses on marketable securities (note 6)                                   (5,247)                      -
                                                                                           ------                 -------
     Total partners' equity                                                               283,140                 522,050
                                                                                          -------                 -------

     Total liabilities and partners' equity                                       $       493,954         $       815,628
                                                                                  =       =======         =       =======
</TABLE>

                See accompanying notes to financial statements.



<PAGE>

<TABLE>
<CAPTION>

                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                            Statements of Operations
                                  (Unaudited)

                                                     Quarters Ended                         Nine Months Ended
                                                      September 30,                           September 30,
                                                      -------------                           -------------
                                                 1995              1994                1995                1994
                                                 ----              ----                ----                ----
Revenue:
<S>                                         <C>                <C>                  <C>                 <C>         
   Rental income                            $    135,670       $    150,580         $    385,132        $    464,665
   Other income                                   24,764                  -               75,987                   -
   Interest income                                 1,656              2,841                6,707               6,841
   Net gain (loss) on sale
     of equipment                                      -             17,508              (47,379)             49,352
   Recovery of net unsecured
     pre-petition claim (note 7)                   8,195                  -               52,470                   -
                                                   -----                  -               ------                   -

       Total revenue                             170,285            170,929              472,917             520,858
                                                 -------            -------              -------             -------

Costs and expenses:
   Depreciation                                   54,293            123,811              227,901             357,954
   Interest                                        1,231                  -                4,539                   -
   Related party expenses (note 4):
     Management fees                               7,535              9,280               23,506              30,949
     General and administrative                   15,382             15,843               49,862              44,367
   Provision for doubtful accounts                13,047              4,503                5,720               4,503
                                                  ------              -----                -----               -----

       Total costs and expenses                   91,488            153,437              311,528             437,773
                                                  ------            -------              -------             -------

Net income                                  $     78,797       $     17,492         $    161,389        $     83,085
                                            =     ======       =     ======         =    =======        =     ======

Net income (loss) per Limited
   Partnership Unit                         $       2.94       $       1.19         $       2.85        $      (2.73)
                                            =       ====       =       ====         =       ====        =      ===== 
</TABLE>

                See accompanying notes to financial statements.


<PAGE>

<TABLE>
<CAPTION>

                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                            Statements of Cash Flows
             For the Nine Months Ended September 30, 1995 and 1994
                                  (Unaudited)

                                                                                             1995                    1994
                                                                                             ----                    ----
Cash flows from operating activities:
<S>                                                                                    <C>                      <C>          
   Net income                                                                          $    161,389             $      83,085
                                                                                       -    -------             -      ------

   Adjustments  to  reconcile  net  income  to net cash  provided  by  operating
     activities:
       Depreciation                                                                         227,901                   357,954
       Provision for doubtful accounts                                                        5,720                     4,503
       Net loss (gain) on sale of equipment                                                  47,379                   (49,352)
       Net increase in current assets                                                       (84,156)                   (2,501)
       Net decrease in current liabilities                                                  (49,727)                  (41,005)
                                                                                            -------                   ------- 

         Total adjustments                                                                  147,117                   269,599
                                                                                            -------                   -------

         Net cash provided by operating activities                                          308,506                   352,684
                                                                                            -------                   -------

Cash flows from investing activities:
   Purchase of investment property                                                         (167,898)                 (247,289)
   Proceeds from sales of investment property                                                14,858                   169,934
                                                                                             ------                   -------

         Net cash used in investing activities                                             (153,040)                  (77,355)
                                                                                           --------                   ------- 

Cash flows from financing activities:
     Principal payments on long-term debt                                                   (39,621)                   (3,363)
     Cash distributions to partners                                                        (388,468)                 (395,052)
                                                                                           --------                  -------- 

         Net cash used in financing activities                                             (428,089)                 (398,415)
                                                                                           --------                  -------- 

Net decrease in cash and cash equivalents                                                  (272,623)                 (123,086)

Cash and cash equivalents at beginning of period                                            325,125                   269,150
                                                                                            -------                   -------

Cash and cash equivalents at end of period                                             $     52,502             $     146,064
                                                                                       =     ======             =     =======

Supplemental cash flow information:
   Interest paid during the period                                                     $      5,616             $          27
                                                                                       =      =====             =       =====
</TABLE>

                See accompanying notes to financial statements.



<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                         Notes to Financial Statements
             For the Nine Months Ended September 30, 1995 and 1994
                                  (Unaudited)

(1)   Organization and Partnership Matters

The foregoing financial statements of Wellesley Lease Income Limited Partnership
III-C (the  "Partnership")  have been prepared in accordance  with the rules and
regulations of the Securities and Exchange  Commission for Form 10-Q and reflect
all  adjustments  which are, in the opinion of management,  necessary for a fair
presentation of the results for the interim periods presented.  Pursuant to such
rules and  regulations,  certain note  disclosures  which are normally  required
under  generally  accepted  accounting  principles  have  been  omitted.  It  is
recommended  that these  financial  statements be read in  conjunction  with the
Partnership's Annual Report on Form 10-K for the year ended December 31, 1994.

(2)   Significant Accounting Policies

Allowance for Doubtful Accounts

The financial statements include an allowance for estimated losses on receivable
balances.  The  allowance  for  doubtful  accounts  is based on past  write  off
experience  and an evaluation  of potential  uncollectible  accounts  within the
current  receivable  balances.  Receivable  balances  which are determined to be
uncollectible  are charged against the allowance and subsequent  recoveries,  if
any, are credited to the allowance. At September 30, 1995 and December 31, 1994,
the allowance for doubtful  accounts  included in rents  receivable was $814 and
$8,141, respectively.

Marketable Securities

The marketable securities are stated at fair value at the balance sheet date and
consist of common stock in Continental  Information Systems Corporation received
by the Partnership in the distributions made December 27, 1994 and July 20, 1995
by the  Trustee  of the  Liquidating  Estate of CIS  Corporation,  et al,  ("the
Trustee"),  with respect to the  outstanding net unsecured  pre-petition  claim.
During the second quarter of 1995, the stock began trading, thereby providing an
objective  valuation  measure for establishing the cost basis.  Unrealized gains
and losses are  recorded  directly in  partners'  equity  except those gains and
losses that are deemed to be other than  temporary,  which would be reflected in
income or loss (see note 6).

Reclassifications

Certain prior year financial  statement items have been  reclassified to conform
with the current year's financial statement presentation.

(3)   Investment Property

At  September  30,  1995,  the  Partnership  owned  computer  equipment  with  a
depreciated  cost basis of $354,809,  subject to existing  leases and  equipment
with a depreciated cost basis of $2,612 in inventory, awaiting re-lease or sale.
All purchases of computer  equipment are subject to a 3% acquisition fee paid to
the General Partner.




<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                         Notes to Financial Statements
                                  (Unaudited)

(4)   Related Party Transactions

Fees,  commissions  and other expenses paid or accrued by the Partnership to the
General  Partner or affiliates of the General  Partner for the nine months ended
September 30, 1995 and 1994 are as follows:

<TABLE>
<CAPTION>

                                                      1995                      1994
                                                      ----                      ----

      <S>                                         <C>                       <C>         
      Equipment acquisition fees                  $      4,890              $      5,977
      Management fees                                   23,506                    30,949
      Reimbursable expenses paid                        49,780                    40,866
                                                        ------                    ------

                                                  $     78,176              $     77,792
                                                  =     ======              =     ======
</TABLE>

Under the terms of the Partnership Agreement, the General Partner is entitled to
an equipment acquisition fee of 3% of the purchase price paid by the Partnership
for the  equipment.  The General  Partner is also  entitled to a management  fee
equal to 7% of the monthly rental  billings  collected.  Also,  the  Partnership
reimburses the General Partner and its affiliates for certain expenses  incurred
by them in connection with the operation of the Partnership.

(5)   Long-term Debt

Long-term  debt  at  September  30,  1995  consists  of  a  $51,801  nonrecourse
installment  note with an  interest  rate of 8.10% from  Pioneer  Bank and Trust
Company,  collateralized  by the equipment  with a net book value of $68,076 and
assignment of the related  lease.  Total  long-term  debt of $51,801  matures in
1996.

Maturities of long-term debt are as follows:

<TABLE>
<CAPTION>
<S>                                  <C>                      <C>         
                                     1995                     $     13,749
                                     1996                           38,052
                                                                    ------

                                                              $     51,801
                                                              =     ======
</TABLE>

(6)   Fair Values of Financial Instruments

Pursuant to Statement of Financial  Accounting  Standards  No. 115 ("SFAS 115"),
"Accounting  for  Certain  Investments  in Debt and  Equity  Securities,"  which
requires  investments in debt and equity  securities  other than those accounted
for under the equity  method to be carried at fair value or  amortized  cost for
debt securities expected to be held to maturity,  the Partnership has classified
its investments in equity securities as available for sale. Accordingly, the net
unrealized  gains and losses computed in marking these  securities to market are
reported  as a  component  of  partners'  equity.  At  September  30,  1995  the
difference  between the fair value and the original cost of these  securities is
an unrealized loss of $5,247.



<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                         Notes to Financial Statements
                                  (Unaudited)

The fair value is based on currently  quoted market prices.  The carrying amount
and estimated  fair value of the  Partnership's  marketable  securities  for the
quarters ended September 30, 1995 and 1994 are as follows:

<TABLE>
<CAPTION>
                                                                                1995                          1994
                                                                                ----                          ----
                                                                       Carrying       Fair          Carrying           Fair
                                                                       Amount         Value         Amount            Value

Investment in Continental Information
     <S>                                                               <C>            <C>           <C>               <C>     
     Systems Corporation Stock                                         $ 52,470       $ 47,223      $      -          $      -
                                                                       ========       ========      ====-===          ========
</TABLE>


As was discussed in note 2,  Marketable  Securities,  the  Partnership  received
stock in Continental Information Systems Corporation as part of the December 27,
1994 and July 20,  1995  distributions  from the  Trustee,  with  respect to the
outstanding net unsecured pre-petition claim. The receivables comprising the net
unsecured  pre-petition  claim had been fully reserved during prior years; thus,
during the second  quarter of 1995 when the stock began  actively  trading,  the
carrying  amount  for the stock  was  established  to be $2.50  per share  which
approximated fair value at June 30, 1995.

(7)   Bankruptcy of Continental Information Systems Corporation

As was  discussed in the Form 10-Q for the quarter  ended June 30, 1995,  note 6
Subsequent  Events,  the Partnership  received the second and final distribution
from the Trustee,  with respect to the net  unsecured  pre-petition  claim.  The
distribution consisted of cash proceeds of $50,840 and of 3,278 shares of common
stock in Continental  Information  Systems  Corporation with a carrying value of
$8,195.  Following the Trustee's  second  distribution,  the  Partnership's  net
unsecured  pre-petition claim has been settled as of July 20, 1995 and there are
no other outstanding receivable balances.




<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                    Management's Discussion and Analysis of
                 Financial Condition and Results of Operations
                                  (Unaudited)

Results of Operations

The following discussion relates to the Partnership's operations for the quarter
and nine months ended September 30, 1995, compared to the same period in 1994.

The  Partnership  realized net income of $78,797 and $17,492 for the three month
periods ended September 30, 1995 and 1994, respectively. Rental income decreased
$14,910 or 10% primarily due to lower rental rates  obtained on equipment  lease
extensions and  remarketings  resulting after the initial lease term expires and
due to a net  decrease in the overall  size of the  equipment  portfolio.  Other
income is the result of the  reduction  of  overstated  liabilities  recorded in
prior periods.  Interest income has decreased between the three month periods as
a result of lower average short-term  investment  balances.  The recovery of the
net unsecured  pre-petition claim was the result of the second distribution from
the  Trustee  of  the  Liquidating  Estate  of  CIS  Corporation,  et  al,  (the
"Trustee"), with respect to the outstanding claim balance.

Total  costs and  expenses  decreased  $61,949 or 40%  between  the three  month
periods.  The decrease in costs and  expenses is a result of lower  depreciation
expense.  Depreciation expense decreased due to a large portion of the equipment
portfolio becoming fully depreciated.  Interest expense was generated during the
quarter due to the interest  paid on  long-term  debt.  The debt was  originally
obtained  during the fourth quarter of 1994.  Management fees have decreased due
to the decline in rental income.  General and  administrative  expenses remained
constant during the three month periods. The Partnership established a provision
for  doubtful  accounts  by  $13,047  to  reserve  for  uncollectible   accounts
receivable.

The  Partnership  realized net income of $161,389 and $83,085 for the nine month
periods ended September 30, 1995 and 1994, respectively. Rental income decreased
$79,533 or 17%. As  discussed  in the quarter  analysis  above,  the decrease in
rental income is primarily due to lower rental rates obtained on equipment lease
extensions  and  remarketings  and to an  overall  reduction  in  the  equipment
portfolio.  As mentioned  above,  other income is the result of the reduction of
overstated  liabilities  recorded in prior  periods.  Interest  income  declined
slightly due to lower average short-term  investment  balances.  The Partnership
recognized a net loss on sale of equipment in 1995 of $47,379  versus a net gain
of  $49,352 in 1994 due to current  year sales of  equipment  with high net book
values.  The recovery of the net unsecured  pre-petition claim was the result of
the  third  quarter  of 1995  receipt  of the  Trustee's  July  20,  1995  final
distribution along with the second quarter of 1995 establishment of the carrying
value  of the  stock  received  in  the  December  27,  1994  distribution.  The
receivables  associated  with the stock  settlement had been fully reserved in a
prior year;  accordingly,  the  Partnership was able to show a recovery on those
receivables as of June 30, 1995 at which time an objective  stock value could be
determined due to the stock's trading activities.



<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                    Management's Discussion and Analysis of
                 Financial Condition and Results of Operations
                                  (Unaudited)

Total  costs and  expenses  decreased  $126,245  or 29%  between  the nine month
periods.  The decrease in costs and  expenses is a result of lower  depreciation
expense.  As discussed above,  depreciation  expense decreased  $130,053 between
1995 and 1994 due to a large portion of the equipment  portfolio  becoming fully
depreciated  and an overall  reduction  in the  equipment  portfolio.  As stated
above,  interest  expense was generated during the year due to the interest paid
on long-term debt that was originally obtained in the fourth quarter of 1994. As
mentioned above,  management fees decreased due to the decline in rental income.
General and  administrative  expenses were lower in 1994 due to the 1994 receipt
of a refund  related to a sales tax audit  assessment  that was paid in 1990 and
included in general and  administrative  expenses at that time. During 1995, the
Partnership  established a provision for doubtful  accounts of $5,720 to reserve
for uncollectible accounts receivable.

During the quarter and nine months ended  September  30, 1995,  the  Partnership
allocated   profits  and  losses  resulting  in  $2.94  and  $2.85  per  Limited
Partnership  Unit,  respectively.  The  allocation  for the  nine  months  ended
September 30, 1995 includes a cost recovery  allocation of profit and loss among
the General and Limited  Partners  which results in an allocation of net loss to
the Limited  Partners.  This cost  recovery  allocation  is required to maintain
capital accounts consistent with the distribution  provisions of the Partnership
Agreement.  In certain periods,  the cost recovery of profit and loss may result
in an  allocation  of net loss to the  Limited  Partners in  instances  when the
Partnership's operations were profitable for the period.

Liquidity and Capital Resources

For the nine months ended September 30, 1995,  rental revenue generated from the
operating  leases was the primary  source of funds for the  Partnership.  As the
equipment leases terminate, the General Partner determines if the equipment will
be extended to the same lessee,  remarketed to another lessee,  or if it is less
marketable, sold. This decision is made upon analyzing which option would derive
the most favorable results.

Rental income will continue to decrease due to two factors.  The first factor is
the rate obtained when the original  leases expire and are remarketed at a lower
rate.  Typically,  the remarketed  rates are lower due to the decrease in useful
life of the  equipment.  Secondly,  the  increasing  change of technology in the
computer  industry  usually  decreases  the  demand  for older  equipment,  thus
increasing the possibility of obsolescence.  Both of these factors together will
cause  remarketed  rates to be lower than original  rates and will cause certain
leases to terminate upon expiration.  This decrease,  however, should not affect
the Partnership's  ability to meet its future cash  requirements,  including its
long-term  debt  obligations.  To the extent that  future  cash flows  should be
insufficient  to meet the  Partnership's  operating  expenses  and  liabilities,
additional  funds could be  obtained  through  the sale of  equipment  or from a
reduction in the rate of cash  distributions.  Future rental  revenues amount to
$383,435 and are expected to be received over the next three years.

In the nine  months  ended  September  30,  1995,  the  Partnership's  investing
activities  resulted in  equipment  purchases of $167,898 and sales of equipment
with a  depreciated  cost basis of  $73,804,  generating  $14,858  of  proceeds.
Associated with the equipment sales were $11,567 of loss charge offs against the
reserve,  initially set up in prior periods for estimated losses on the ultimate
disposition of equipment.  The Partnership has no material  capital  expenditure
commitments  and will not purchase  equipment as the Partnership has reached the
ends of its reinvestment period.



<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                    Management's Discussion and Analysis of
                 Financial Condition and Results of Operations
                                  (Unaudited)

The Partnership's financing activities resulted in the paydown on long-term debt
during the nine months ended September 30, 1995 of $39,621.  Such long-term debt
bears interest at 8.10% with  installments  to be paid monthly.  Total long-term
debt  assumed by the  Partnership  from  inception  is  $10,641,478  for a total
leverage of 44%.

Cash distributions are at an annual level of 3% per Limited  Partnership Unit or
$3.75 per Limited  Partnership  Unit on a quarterly basis. For the quarter ended
September 30, 1995, the Partnership declared a distribution of $98,763, of which
$4,938 was  allocated  to the General  Partner and $93,825 was  allocated to the
Limited  Partners.  The  distribution  will be made on November  28,  1995.  The
Partnership  expects to continue paying at or near this level in the future. The
effects of inflation have not been  significant to the  Partnership  and are not
expected to have a material impact in future periods.


<PAGE>


                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)

                    Computer Equipment Portfolio (Unaudited)
                               September 30, 1995

Lessee

Baylor Health Network, Incorporated
Centura Bank, Incorporated
Genix Corporation
Hughes Aircraft Company, Incorporated
J. Walter Thompson & Company
Mitsubishi, Incorporated
New York Life Insurance Company, Incorporated
NYNEX National, Incorporated
Sports & Recreation, Incorporated
USG Corporation
Xerox Corporation

<TABLE>
<CAPTION>
Equipment Description                                                               Acquisition Price

<S>                                                                                   <C>            
Computer peripherals                                                                  $       293,947
Processors & upgrades                                                                         819,956
Telecommunications                                                                            386,772
Other                                                                                          46,412
                                                                                               ------

                                                                                      $     1,547,087
                                                                                      =     =========
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                           PART II. OTHER INFORMATION

                WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
                     (A Massachusetts Limited Partnership)


<S>            <C>
Item 1.        Legal Proceedings
               Response:  None

Item 2.        Changes in the Rights of the Partnership's Security Holders
               Response:  None

Item 3.        Defaults by the Partnership on its Senior Securities
               Response:  None

Item 4.        Results of Votes of Security Holders
               Response:  None

Item 5.        Other Information
               Response:  None

Item 6.        Exhibits and Reports on Form 8-K
               Response:

               A.  None

               B.  None
</TABLE>


<PAGE>


                                   SIGNATURE

Pursuant  to the  requirements  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.

WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III-C
(Registrant)

By:  Wellesley Leasing Partnership,
its General Partner

By:  TLP Leasing Programs, Inc.,
one of its Corporate General Partners

By:  Arthur P. Beecher
     President


Date: November 14, 1995
      ------------------