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

                           FORM 10-Q


[X]   Quarterly  report pursuant to Section 13 or  15(d)  of  the
Securities Exchange Act of 1934
For the quarterly period ended June 30, 2000 or

[  ]   Transition report pursuant to Section 13 or 15(d)  of  the
Securities Exchange Act of 1934
For          the          transition         period          from
to___________________

Commission File No. 0-25603

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

     (Exact name of registrant as specified in its charter)


          Delaware                                13-4018068
(State or other jurisdiction of                (I.R.S. Employer
incorporation or organization)                     Identification
No.)


c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY        10048
(Address of principal executive offices)               (Zip Code)


Registrant's telephone number, including area code (212) 392-5454


_________________________________________________________________
_
(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____________





<PAGE>
<TABLE>
         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                         June 30, 2000


<CAPTION>
PART I. FINANCIAL INFORMATION

Item 1. Financial Statements
<S>
<C>
     Statements of Financial Condition June 30, 2000
     (Unaudited) and December 31, 1999......................... 2

     Statements of Operations for the Quarters Ended
     June 30, 2000 and 1999 (Unaudited).........................3

     Statements of Operations for the Six Months Ended
     June 30, 2000 and the Period from March 1, 1999
     (commencement of operations) to June 30, 1999
     (unaudited)................................................4

     Statements of Changes in Partners' Capital for the
        Six Months Ended June 30, 2000 and the Period from
        March 1, 1999 (commencement of operations) to
                       June               30,                1999
     (Unaudited)..................................5

     Statements of Cash Flows for the Six Months Ended
     June 30, 2000 and the Period from March 1,
     1999 (commencement of operations) to June 30, 1999
     (Unaudited)................................................6

        Notes to Financial Statements (Unaudited)...............7-
     12

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations.......13-23

Item 3. Quantitative and Qualitative Disclosures about
        Market Risk ........................................23-35

Part II. OTHER INFORMATION

Item 1. Legal Proceedings......................................36

Item 2. Changes in Securities and Use of Proceeds...........36-37

Item 5. Other Information......................................37

Item 6. Exhibits and Reports on Form 8-K....................37-38
</TABLE>
<PAGE>
<TABLE>
                 PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
               STATEMENTS OF FINANCIAL CONDITION

<CAPTION>
                                       June 30,      December 31,

2000                                   1999                     $
$
                                    (Unaudited)
ASSETS
<S>                                     <C>            <C>
Equity in futures interests trading accounts:
 Cash                              20,182,482      19,067,800
 Net unrealized gain on open contracts    158,989   1,070,531

      Total Trading Equity          20,341,471     20,138,331

Subscriptions receivable               413,831        811,200
Interest receivable (DWR)               94,069         78,774

      Total Assets                 20,849,371      21,028,305


LIABILITIES AND PARTNERS' CAPITAL

Liabilities
 Redemptions payable                   377,560        228,143
 Accrued brokerage fees (DWR)          125,042        108,150
 Accrued management fees                35,727         30,900

      Total Liabilities                538,329        367,193

Partners' Capital

 Limited Partners (2,252,508.264 and
   1,984,358.367 Units, respectively)20,080,290    20,424,608
 General Partner (25,884.600 and
        22,977.618 Units, respectively)      230,752     236,504

 Total Partners' Capital            20,311,042     20,661,112

 Total Liabilities and Partners' Capital  20,849,371   21,028,305


NET ASSET VALUE PER UNIT                  8.91          10.29

<FN>

          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>



<PAGE>
<TABLE>
        MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
                    STATEMENTS OF OPERATIONS
                           (Unaudited)



<caption >

                                For the Quarters Ended June 30,

                                        2000        1999
                                          $            $
REVENUES
<S>
<C>                                <C>
 Trading profit (loss):
            Realized                             (1,949,142)1,028
Net change in unrealized          (1,004,583)     499,211

      Total Trading Results       (2,953,725)   500,239

 Interest Income (DWR)                292,554      70,256
      Total Revenues              (2,661,171)   570,495

EXPENSES

 Brokerage fees (DWR)                 383,498   138,751
      Management fees                 109,571       39,643
      Total Expenses                  493,069     178,394

NET INCOME (LOSS)                 (3,154,240)     392,101


NET INCOME (LOSS) ALLOCATION

 Limited Partners                 (3,117,539)   386,624
 General Partner                     (36,701)      5,477


NET INCOME (LOSS) PER UNIT

 Limited Partners                      (1.42)       .42
 General Partner                       (1.42)        .42


<FN>



          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>


<PAGE>
<TABLE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
                    STATEMENTS OF OPERATIONS
                           (Unaudited)

<CAPTION>

For the Period from

March 1, 1999

(commencement
For the Six Months         of operations) to

Ended June 30,                  June 30,
                                      2000            1999
                                        $              $


REVENUES
<S>
<C>                                <C>
 Trading profit (loss):
    Realized                     (1,661,080)     (271,605)
      Net change in unrealized     (911,542)     439,803
      Total Trading Results      (2,572,622)    168,198
                Interest               Income               (DWR)
557,154
85,163

      Total Revenues             (2,015,468)     253,361

EXPENSES

   Brokerage   fees   (DWR)                  756,920      164,203
Management           fees                                 216,263
46,915
 Incentive fees                       89,338 _____-___

      Total Expenses               1,062,521     211,118
NET INCOME (LOSS)                (3,077,989)       42,243

NET INCOME (LOSS) ALLOCATION

    Limited   Partners                  (3,042,237)        41,576
General Partner                     (35,752)        667

NET LOSS PER UNIT

 Limited Partners                     (1.38)      (.38)
 General Partner                      (1.38)       (.38)


<FN>

          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM  L.P.
           STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
         For the Six Months Ended June 30, 2000 and the
                   Period from March 1, 1999
                 (commencement of operations) to
                          June 30, 1999
                          (Unaudited)


<CAPTION>


                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total


<S>
<C>                                <C>                        <C>
<C>
Partners' Capital,
 March 1, 1999
 Initial Offering   436,313.664  $4,303,136  $60,000  $4,363,136

Offering of Units                                             749
,134.133              6,916,675     80,000  6,996,675

Net                                                        Income
-                               41,576                        667
42,243

Partners' Capital,
 June 30, 1999      1,185,447.797 $11,261,387 $140,667$11,402,054





Partners' Capital,
  December 31, 19992,007,335.985  $20,424,608  $236,504  $20,661,
112

Offering of Units     563,505.568  5,638,495    30,000 5,668,495

Net                                                          Loss
-                                (3,042,237)  (35,752)(3,077,989)
Redemptions
(292,448.689)              (2,940,576)                          -
(2,940,576)

Partners' Capital,
 June 30, 2000      2,278,392.864 $20,080,290 $230,752$20,311,042



<FN>





           The accompanying notes are an integral part
                 of these financial statements.
</TABLE>
<PAGE>
<TABLE>


         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
                    STATEMENTS OF CASH FLOWS
                           (Unaudited)

<CAPTION>

For the Period from

March 1, 1999

(commencement
For the Six Months         of operations) to

Ended June 30,                 June 30,
                                      2000            1999
                                        $              $


CASH FLOWS FROM OPERATING ACTIVITIES
<S>
<C>                                <C>
 Net income (loss)                (3,077,989)  42,243
 Noncash item included in net income (loss):
    Net change in unrealized          911,542   (439,803)
 Increase in operating assets:
   Interest receivable (DWR)        (15,295)  (30,462)
 Increase in operating liabilities:
      Accrued   brokerage   fees  (DWR)         16,892     54,972
Accrued management fees                 4,827      15,706

 Net cash used for operating activities (2,160,023)  (357,344)


CASH FLOWS FROM FINANCING ACTIVITIES

                         Initial                         offering
-     4,363,136
 Offering of Units                  5,668,495 6,996,675
     (Increase) decrease in subscriptions receivable      397,369
(1,354,199)
          Increase         in         redemptions         payable
149,417                            -
                Redemptions               of                Units
(2,940,576)                    ________-  __

  Net  cash  provided  by  financing  activities    3,274,705   1
0,005,612

 Net increase in cash               1,114,682   9,648,268

 Balance at beginning of period    19,067,800_______-___
 Balance at end of period          20,182,482     9,648,268



<FN>
          The accompanying notes are an integral part
                 of these financial statements.
</TABLE>


<PAGE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

                  NOTES TO FINANCIAL STATEMENTS

                           (UNAUDITED)

The  financial statements include, in the opinion of  management,

all  adjustments necessary for a fair presentation of the results

of  operations  and  financial condition of Morgan  Stanley  Dean

Witter  Charter Graham L.P. (the "Partnership").   The  financial

statements  and  condensed  notes  herein  should  be   read   in

conjunction  with  the  Partnership's December  31,  1999  Annual

Report on Form 10-K.


1.  Organization - Morgan Stanley Dean Witter Charter Graham L.P.

is  a  Delaware limited partnership organized to engage primarily

in  the  speculative  trading of futures and  forward  contracts,

options  on  futures contracts and on physical  commodities,  and

other   commodity   interests,  including   foreign   currencies,

financial  instruments, metals, energy and agricultural  products

(collectively,  "futures interests").  The Partnership  commenced

operations  on  March 1, 1999.  The Partnership  is  one  of  the

Morgan Stanley Dean Witter Charter Series of funds, comprised  of

the  Partnership,  Morgan  Stanley Dean Witter  Charter  Millburn

L.P., and Morgan Stanley Dean Witter Charter Welton L.P.



The   general   partner   is   Demeter   Management   Corporation

("Demeter").  The non-clearing commodity broker  is  Dean  Witter

Reynolds  Inc.  ("DWR")  and an unaffiliated  clearing  commodity

broker, Carr

<PAGE>
         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
           NOTES TO FINANCIAL STATEMENTS - (CONTINUED)


Futures  Inc. ("Carr"), provides clearing and execution services.

Demeter  and DWR are wholly-owned subsidiaries of Morgan  Stanley

Dean  Witter & Co.  Graham Capital Management L.P. (the  "Trading

Advisor"), is the trading advisor to the Partnership.



2.  Related Party Transactions

The Partnership's cash is on deposit with DWR and Carr in futures

interests trading accounts to meet margin requirements as needed.

DWR  pays interest on these funds based on a rate equal  to  that

earned  by  DWR  on  its  U.S.  Treasury  bill  investments.  The

Partnership pays brokerage fees to DWR.



3.  Financial Instruments

The Partnership trades futures and forward contracts, options  on

futures contracts and on physical commodities and other commodity

interests,  including foreign currencies, financial  instruments,

metals,  energy and agricultural products.  Futures and  forwards

represent  contracts for delayed delivery of an instrument  at  a

specified date and price.  Risk arises from changes in the  value

of  these contracts and the potential inability of counterparties

to  perform under the terms of the contracts.  There are numerous

factors  which  may significantly influence the market  value  of

these contracts, including interest rate volatility.



<PAGE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.

           NOTES TO FINANCIAL STATEMENTS - (CONTINUED)




In  June  1998, the Financial Accounting Standards Board ("FASB")

issued  Statement of Financial Accounting Standard  ("SFAS")  No.

133,   "Accounting   for  Derivative  Instruments   and   Hedging

Activities" effective for fiscal years beginning after  June  15,

1999.   In  June, 1999, the FASB issued SFAS No. 137, "Accounting

for  Derivative Instruments and Hedging Activities - Deferral  of

the  Effective Date of SFAS no. 133", which defers  the  required

implementation of SFAS No. 133 until fiscal years beginning after

June  15, 2000.  However, the Partnership had previously  elected

to adopt the provisions of SFAS No. 133 beginning with the fiscal

year  ended December 31, 1999.  SFAS No. 133 supersedes SFAS  No.

119  and  No.  105,  which  required the  disclosure  of  average

aggregate fair values and contract/notional values, respectively,

of  derivative financial instruments for an entity which  carries

its  assets at fair value.  The application of SFAS No. 133  does

not  have  a  significant  effect on the Partnership's  financial

statements.




The  net  unrealized gains on open contracts are  reported  as  a

component  of  "Equity in futures interests trading accounts"  on

the  statements of financial condition and totaled  $158,989  and

$1,070,531 at June 30, 2000 and December 31, 1999, respectively.

<PAGE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
           NOTES TO FINANCIAL STATEMENTS - (CONTINUED)




Of the $158,989 net unrealized gain on open contracts at June 30,

2000,  $304,180 related to exchange-traded futures contracts  and

$(145,191)   related  to  off-exchange-traded  forward   currency

contracts.



Of  the  $1,070,531  net unrealized gain  on  open  contracts  at

December 31, 1999, $1,133,461 related to exchange-traded  futures

contracts  and  $(62,930) related to off-exchange-traded  forward

currency contracts.



Exchange-traded futures contracts held by the Partnership at June

30,  2000 and December 31, 1999 mature through December 2001  and

June  2001,  respectively. Off-exchange-traded  forward  currency

contracts  held by the Partnership at June 30, 2000 and  December

31, 1999 mature through August 2000 and April 2000, respectively.



The Partnership has credit risk associated with counterparty non-

performance.  The credit risk associated with the instruments  in

which  the  Partnership  is involved is limited  to  the  amounts

reflected in the Partnership's statements of financial condition.



The Partnership also has credit risk because DWR and Carr act  as

the futures commission merchants or the counterparties with

<PAGE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
           NOTES TO FINANCIAL STATEMENTS - (CONTINUED)




respect  to  most  of  the Partnership's assets.  Exchange-traded

futures and futures-styled options contracts are marked to market

on  a  daily basis, with variations in value settled on  a  daily

basis. Each of DWR and Carr, as a futures commission merchant for

the  Partnership's  exchange-traded  futures  and  futures-styled

options contracts, are required, pursuant to regulations  of  the

Commodity Futures Trading Commission ("CFTC"), to segregate  from

their  own  assets, and for the sole benefit of  their  commodity

customers, all funds held by them with respect to exchange-traded

futures and futures-styled options contracts, including an amount

equal to the net unrealized gain on all open futures and futures-

styled  options contracts, which funds, in the aggregate, totaled

$20,486,662  and  $20,201,261 at June 30, 2000 and  December  31,

1999,  respectively.  With  respect  to  the  Partnership's  off-

exchange-traded forward currency contracts, there  are  no  daily

settlements  of variations in value nor is there any  requirement

that  an  amount equal to the net unrealized gain on open forward

contracts  be  segregated.  With respect to  those  off-exchange-

traded forward currency contracts, the Partnership is at risk  to

the  ability  of  Carr,  the sole counterparty  on  all  of  such

contracts,  to  perform. The Partnership has a netting  agreement

with  Carr.   This  agreement which  seeks  to  reduce  both  the

Partnership's and Carr's exposure on off-exchange-traded forward

<PAGE>

         MORGAN STANLEY DEAN WITTER CHARTER GRAHAM L.P.
           NOTES TO FINANCIAL STATEMENTS - (CONCLUDED)




currency  contracts, should materially decrease the Partnership's

credit  risk  in  the event of Carr's bankruptcy  or  insolvency.

Carr's  parent, Credit Agricole Indosuez, has guaranteed  to  the

Partnership  payment  of  the  net  liquidating  value   of   the

transactions  in  the Partnership's account with Carr  (including

foreign currency contracts).


































<PAGE>
Item   2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

Liquidity - The Partnership deposits its assets with DWR as  non-

clearing  broker and Carr as clearing broker in separate  futures

trading  accounts  established for  the  Trading  Advisor,  which

assets  are  used as margin to engage in trading. The assets  are

held   in  either  non-interest-bearing  bank  accounts   or   in

securities  and instruments permitted by the CFTC for  investment

of  customer  segregated  or secured  funds.   The  Partnership's

assets held by the commodity brokers may be used as margin solely

for  the  Partnership's  trading.  Since the  Partnership's  sole

purpose  is  to  trade in futures, forwards, and options,  it  is

expected  that the Partnership will continue to own  such  liquid

assets for margin purposes.



The  Partnership's investment in futures, forwards,  and  options

may, from time to time, be illiquid.  Most U.S. futures exchanges

limit  fluctuations in prices during a single day by  regulations

referred  to  as  "daily price fluctuations  limits"   or  "daily

limits".   Trades may not be executed at prices beyond the  daily

limit.  If the price for a particular futures or options contract

has increased or decreased by an amount equal to the daily limit,

positions  in  that futures or options contract  can  neither  be

taken  nor liquidated unless traders are willing to effect trades

at  or  within the limit.  Futures prices have occasionally moved

the daily limit for several consecutive days with little or no



<PAGE>

trading.   These market conditions could prevent the  Partnership

from  promptly  liquidating its futures or options contracts  and

result in restrictions on redemptions.



There  is  no limitation on daily price moves in trading  forward

contracts  on  foreign currencies.  The markets  for  some  world

currencies  have low trading volume and are illiquid,  which  may

prevent  the  Partnership from trading in potentially  profitable

markets  or  prevent  the Partnership from  promptly  liquidating

unfavorable   positions  in  such  markets,  subjecting   it   to

substantial  losses.   Either of these  market  conditions  could

result in restrictions on redemptions.



The  Partnership  has  never had illiquidity  affect  a  material

portion of its assets.



Capital  Resources. The Partnership does not have, or  expect  to

have,  any capital assets.  Redemptions, exchanges and  sales  of

additional  units of limited partnership interest ("Unit(s)")  in

the  future  will  affect  the  amount  of  funds  available  for

investments  in futures interests in subsequent periods.   It  is

not possible to estimate the amount and therefore, the impact  of

future redemptions of Units.







<PAGE>

Results of Operations

General.  The Partnership's results depend on its Trading Advisor

and the ability of the Trading Advisor's trading programs to take

advantage of price movements or other profit opportunities in the

futures, forwards and options markets.  The following presents  a

summary  of the Partnership's operations for the quarter and  six

months  ended  June 30, 2000 and for the quarter ended  June  30,

1999  and  the  period  from  March  1,  1999  (commencement   of

operations)  to  June  30,  1999,  respectively,  and  a  general

discussion of its trading activities during each period.   It  is

important  to note, however, that the Trading Advisor  trades  in

various markets at different times and that prior activity  in  a

particular market does not mean that such market will be actively

traded  by  the  Trading Advisor or will  be  profitable  in  the

future.   Consequently,  the  results  of   operations   of   the

Partnership are difficult to discuss other than in the context of

its  Trading  Advisor's  trading  activities  on  behalf  of  the

Partnership  as a whole and how the Partnership has performed  in

the past.



For the Quarter and Six Months Ended June 30, 2000

For  the  quarter  ended June 30, 2000, the Partnership  recorded

total  trading  losses net of interest income of  $2,661,171  and

posted  a  decrease  in  Net  Asset Value  per  Unit.   The  most

significant  losses of approximately 11.0% were recorded  in  the

global interest rate futures markets primarily during April and



<PAGE>

early  May  from long positions in U.S. interest rate futures  as

prices  declined amid fears of additional interest rate hikes  by

the  U.S.  Federal  Reserve to snuff out inflationary  pressures.

Newly  established  short  positions incurred  additional  losses

later  in  May and during June as prices moved higher amid  signs

that  U.S.  economic  growth  has slowed  and  the  prospects  of

additional  interest  rate  hikes by  the  Federal  Reserve  were

fading.   In  the  agricultural markets, losses of  approximately

5.3%  were experienced throughout a majority of the quarter  from

long positions in corn and soybean futures as prices declined due

to  forecasts  for heavy rain in the U.S. corn  and  soy  growing

regions.   In the global stock index futures markets,  losses  of

approximately 3.1% were recorded primarily during April from long

NASDAQ  100, Russell 1000 and S&P 500 Index futures positions  as

domestic  equity  prices declined following  the  release  of  an

unexpected jump in the Consumer Price Index on fears of inflation

and  concerns that the Federal Reserve may need to raise interest

rates  more  aggressively.   In the  metals  markets,  losses  of

approximately  1.2% were experienced primarily during  April  and

May  from long positions in copper, zinc and nickel as most  base

metals prices moved lower amid a technically based sell-off.   In

the  currency markets, losses of approximately 0.8% were incurred

during April from long positions in the Japanese yen as the value

of  the  yen  weakened  versus the  U.S.  dollar  amid  fears  of

additional   Bank  of  Japan  intervention.  These  losses   were

partially offset by gains of approximately 6.4% recorded in the

<PAGE>

energy  markets primarily during May and June from  long  futures

positions  in crude oil and its related products as the  previous

upward  movement  in  oil prices reemerged amid  rising  concerns

regarding supplies and production levels.  Additional gains  were

recorded during May from long positions in natural gas futures as

prices  continued  their upward trend, as data  released  by  the

American  Gas Association further confirmed fears that  inventory

levels  remain low.  In the soft commodities markets, profits  of

approximately 1.3% were recorded primarily during  May  and  June

from  long sugar futures positions as prices moved higher due  to

strong  demand  and  declining  production  from  Brazil.   Total

expenses  for the three months ended June 30, 2000 were $493,069,

resulting  in  a  net loss of $3,154,240.  The value  of  a  Unit

decreased  from  $10.33 at March 31, 2000 to $8.91  at  June  30,

2000.



For  the six months ended June 30, 2000, the Partnership recorded

total  trading  losses net of interest income of  $2,015,468  and

posted  a  decrease  in  Net  Asset Value  per  Unit.   The  most

significant  losses of approximately 13.2% were recorded  in  the

global  interest  rate futures markets primarily during  February

from  short positions in short and medium-term U.S. Treasury note

futures as prices rose in late February as the U.S. stock markets

fluctuated  and  investors shifted assets to short-term  Treasury

notes from stocks and 30-year bonds.  During April and early May,

additional losses were recorded from long positions in U.S.

<PAGE>

interest rate futures as prices declined amid fears of additional

interest   rate  hikes  by  the  U.S.  Federal  Reserve.    Newly

established short positions incurred additional losses  later  in

May  and during June as prices moved higher amid signs that  U.S.

economic  growth  had  slowed  and the  prospects  of  additional

interest rate hikes by the Federal Reserve were fading.   In  the

agricultural   markets,   losses  of  approximately   4.1%   were

experienced throughout a majority of the second quarter from long

positions in corn and soybean futures as prices declined  due  to

forecasts  for  heavy  rain  in the U.S.  corn  and  soy  growing

regions.   In the global stock index futures markets,  losses  of

approximately 3.1% were recorded primarily during April from long

NASDAQ  100, Russell 1000 and S&P 500 Index futures positions  as

domestic  equity  prices declined following  the  release  of  an

unexpected  jump in the Consumer Price Index, fears of  inflation

and  concerns that the Federal Reserve may need to raise interest

rates  more  aggressively.   In the  metals  markets,  losses  of

approximately 2.6% were experienced primarily from long  aluminum

and  copper futures positions as prices reversed lower  in  early

February  due  primarily to technically  based  selling.   During

April  and  May,  additional losses were  experienced  from  long

positions  in copper, zinc and nickel as most base metals  prices

moved  lower  amid  a  technical  sell-off.   These  losses  were

partially   offset  by  gains  of  approximately  8.1%   recorded

primarily  during  January and March in the energy  markets  from

long futures positions in crude oil and its related products as

<PAGE>

prices increased on concerns about future output levels from  the

world's leading producer countries amid dwindling stockpiles  and

increasing demand.  Gains were also recorded during May and  June

from  long futures positions in crude oil as the previous  upward

movement  in oil prices reemerged amid rising concerns  regarding

supplies  and production levels.  Additional gains were  recorded

during  May from long positions in natural gas futures as  prices

continued  their upward trend, as data released by  the  American

Gas  Association  further confirmed fears that  inventory  levels

remain low.  In the currency markets, gains of approximately 2.8%

were  produced primarily during January from short  positions  in

the  euro  and  Swiss  franc  as the value  of  these  currencies

weakened   versus  the  U.S.  dollar  skepticism  about  Europe's

economic outlook and lack of public support for the economy  from

European  officials.  Gains were also recorded during April  from

short positions in the euro as its value weakened versus the U.S.

dollar  due to the European Central Bank's ("ECB") passive stance

towards  its currency and increasing concern that the ECB  should

be  more  aggressive in combating inflation.  Total expenses  for

the six months ended June 30, 2000 were $1,062,521, resulting  in

a  net  loss  of $3,077,989.  The value of a Unit decreased  from

$10.29 at December 31, 1999 to $8.91 at June 30, 2000.



For the Quarter and Four Months Ended June 30, 1999

For  the  quarter  ended June 30, 1999, the Partnership  recorded

total trading revenues including interest income of $570,495 and

<PAGE>

posted  an  increase  in  Net Asset  Value  per  Unit.  The  most

significant  gains  of approximately 3.5% were  recorded  in  the

global  interest rate futures markets primarily during June  from

short  positions  in  European interest rate  futures  as  prices

declined   due  to  dampened  sentiment  regarding  the  European

Monetary  Union and fears of an interest rate hike  in  the  U.S.

Additional  gains  were  recorded from short  positions  in  U.S.

interest rate futures as domestic bond prices declined during May

and  June  due  primarily to fears of a tighter  Federal  Reserve

monetary  policy  and  an interest rate  hike  in  the  U.S.   In

energies,  profits of approximately 1.6% were recorded  primarily

from  long  positions in crude oil futures as oil prices  climbed

higher  during  April  and  June amid declining  inventories  and

growing  global demand.  Additional gains were recorded  in  this

market  complex  from long positions in natural  gas  futures  as

prices moved higher during April as storage reports showed supply

stocks  within  market  expectations.   In  global  stock   index

futures,  profits  of approximately 0.4% were recorded  primarily

during  June  from  long positions from Nikkei Index  futures  as

Japanese  equity prices rose in response to encouraging  economic

data  out  of  Japan.  Smaller gains of approximately  0.4%  were

recorded  in soft commodities primarily from short cocoa  futures

positions as cocoa prices declined to a 5 1/2 year low during  April

in  reaction to reports of a supply surplus, declining demand and

a  promising West African crop.  In currencies, small gains  were

recorded from short positions in the euro and Swiss franc, as the

<PAGE>

value  of these currencies declined throughout the quarter,  more

than  offset losses recorded during June from short positions  in

the  South  African  rand and Japanese  yen.   These  gains  were

partially  offset  by  losses  of  approximately  0.4%   incurred

primarily during late May and early June in livestock from  short

cattle  futures positions as prices increased on firm boxed  beef

prices  and  stronger-than-expected demand.   Smaller  losses  of

approximately  0.2%  were  experienced  in  the  metals   markets

primarily  during May from long positions in base metal  futures,

as prices reversed lower amid large supplies and low demand, more

than  offset  profits  recorded  from  short  positions  in  gold

futures,  as  gold  prices  plummeted  during  May  and  June  in

participation  of  the British Treasury's  July  auction.   Total

expenses  for the three months ended June 30, 1999 were $178,394,

resulting  in  net  income of $392,101.   The  value  of  a  Unit

increased from $9.20 at March 31, 1999 to $9.62 at June 30, 1999.



For the period from March 1, 1999 (commencement of operations) to

June  30,  1999, the Partnership recorded total trading  revenues

including interest income of $253,361.  The most significant  net

trading  losses  of  approximately 2.3% were  recorded  primarily

during  March in the agricultural markets from short corn futures

positions  as  prices moved higher in a technical and  seasonally

driven  rally, as well as from a lack of heavy producer  selling.

Losses  of  approximately  0.4% were incurred  in  the  livestock

markets primarily from short cattle futures positions as prices

<PAGE>

increased  during  late May and early June  on  firm  boxed  beef

prices  and stronger-than-expected demand.  In metals, losses  of

approximately 0.8% were experienced primarily from long positions

in  base  metal futures as prices reversed lower during May  amid

abundant  supplies  and  weak demand.  In currencies,  losses  of

approximately  0.4% were recorded primarily from short  positions

in  the  Japanese yen as the value of the yen strengthened versus

the  U.S.  dollar  during  mid June  on  optimism  regarding  the

Japanese  economy.   Smaller currency losses were  incurred  from

short South African rand positions as the value of the rand  also

strengthened versus the dollar during June as nervousness about

the South African election assuaged.  These losses were mitigated

by  gains  of approximately 3.2% recorded in the global  interest

rate  futures markets primarily from short positions in  European

interest  rate  futures as prices declined  during  June  due  to

dampened  sentiment  regarding the European  Monetary  Union  and

fears of an interest rate hike in the U.S.  Additional gains were

recorded  from short positions in U.S. interest rate  futures  as

domestic  bond prices declined during May and June due  primarily

to  fears  of  a tighter Federal Reserve monetary policy  and  an

interest  rate  hike  in  the  U.S.   In  energies,  profits   of

approximately 1.4% were recorded primarily from long positions in

crude  oil futures as oil prices climbed higher during April  and

June  amid  declining  inventories  and  growing  global  demand.

Smaller  gains  of  approximately 0.6%  were  recorded  primarily

during June from long positions in Nikkei Index futures as

<PAGE>

Japanese  equity prices rose in response to encouraging  economic

data  out of Japan.  Total expenses for the period from March  1,

1999 (commencement of operations) to June 30, 1999 were $211,118,

resulting  in  net  income  of $42,243.   The  value  of  a  Unit

decreased   from  $10.00  at  March  1,  1999  (commencement   of

operations) to $9.62 at June 30, 1999.



Item  3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES  ABOUT  MARKET
RISK

Introduction

The  Partnership is a commodity pool involved in the  speculative

trading  of  futures interests.  The market-sensitive instruments

held  by  the  Partnership are acquired for  speculative  trading

purposes only and, as a result, all or substantially all  of  the

Partnership's  assets  are at risk of trading  loss.   Unlike  an

operating  company, the risk of market-sensitive  instruments  is

central,  not  incidental,  to  the Partnership's  main  business

activities.



The  futures interests traded by the Partnership involve  varying

degrees  of  market  risk.  Market risk is often  dependent  upon

changes  in  the level or volatility of interest rates,  exchange

rates,  and  prices  of  financial instruments  and  commodities.

Fluctuations  in market risk based upon these factors  result  in

frequent  changes  in  the fair value of the  Partnership's  open

positions, and, consequently, in its earnings and cash flow.



<PAGE>

The  Partnership's  total market risk is  influenced  by  a  wide

variety  of  factors,  including the  diversification  among  the

Partnership's open positions, the volatility present  within  the

markets,  and the liquidity of the markets.  At different  times,

each  of these factors may act to increase or decrease the market

risk associated with the Partnership.



The  Partnership's past performance is not necessarily indicative

of  its  future results. Any attempt to numerically quantify  the

Partnership's  market risk is limited by the uncertainty  of  its

speculative  trading.  The Partnership's speculative trading  may

cause future losses and volatility (i.e. "risk of ruin") that far

exceed  the  Partnership's experiences to date or any  reasonable

expectation based upon historical changes in market value.


Quantifying the Partnership's Trading Value at Risk

The    following    quantitative   disclosures   regarding    the

Partnership's  market  risk  exposures  contain  "forward-looking

statements"  within  the meaning of the safe  harbor  from  civil

liability  provided for such statements by the Private Securities

Litigation  Reform Act of 1995 (set forth in Section 27A  of  the

Securities Act of 1933 and Section 21E of the Securities Exchange

Act  of 1934).  All quantitative disclosures in this section  are

deemed to be forward-

looking  statements for purposes of the safe harbor,  except  for

statements of historical fact.



<PAGE>

The  Partnership accounts for open positions using mark-to-market

accounting  principles.   Any loss in the  market  value  of  the

Partnership's  open  positions  is  directly  reflected  in   the

Partnership's earnings, whether realized or unrealized,  and  its

cash  flow.   Profits and losses on open positions  of  exchange-

traded  futures  interests are settled  daily  through  variation

margin.



The  Partnership's risk exposure in the market sectors traded  by

the  Trading Advisor is estimated below in terms of Value at Risk

("VaR").  The  VaR  model used by the Partnership  includes  many

variables that could change the market value of the Partnership's

trading  portfolio.  The Partnership estimates VaR using a  model

based upon historical simulation with a confidence level of  99%.

Historical  simulation involves constructing  a  distribution  of

hypothetical  daily changes in the value of a trading  portfolio.

The  VaR  model takes into account linear exposures to price  and

interest  rate risk.  Market risks that are incorporated  in  the

VaR  model  include equity and commodity prices, interest  rates,

foreign  exchange  rates, and correlation among these  variables.

The  hypothetical changes in portfolio value are based  on  daily

percentage changes observed in key market indices or other market

factors  ("market  risk  factors")  to  which  the  portfolio  is

sensitive. The historical observation period of the Partnership's

VaR is approximately four years. The one-day 99% confidence level

of the Partnership's VaR corresponds to the negative change in

<PAGE>

portfolio value that, based on observed market risk factor, would

have been exceeded once in 100 trading days.



VaR   models,   including  the  Partnership's,  are  continuously

evolving  as trading portfolios become more diverse and  modeling

techniques  and systems capabilities improve.  Please  note  that

the  VaR  model is used to numerically quantify market  risk  for

historic  reporting purposes only and is not utilized  by  either

Demeter  or  the  Trading Advisor in their daily risk  management

activities.



The Partnership's Value at Risk in Different Market Sectors

The  following  tables  indicate  the  VaR  associated  with  the

Partnership's open positions as a percentage of total Net  Assets

by  primary market category as of June 30, 2000 and 1999.  As  of

June  30,  2000  and 1999, the Partnership's total capitalization

was approximately $20 million and $11 million, respectively.

    Primary Market            June 30, 2000       June 30, 1999
     Risk Category            Value at Risk      Value at Risk

     Currency                    (1.24)%              (2.76)%

     Interest Rate               (0.96)               (3.74)

     Equity                       (0.40)              (0.25)

     Commodity                    (1.36)              (0.84)

     Aggregate Value at Risk      (1.93)%             (4.71)%



<PAGE>

Aggregate Value at Risk represents the aggregate VaR of  all  the

Partnership's open positions and not the sum of the  VaR  of  the

individual Market Categories listed above.  Aggregate VaR will be

lower  as  it  takes  into  account correlation  among  different

positions and categories.



The  table  above  represents the VaR of the  Partnership's  open

positions  at June 30, 2000 and 1999 only and is not  necessarily

representative  of  either the historic  or  future  risk  of  an

investment  in  the  Partnership. Because the Partnership's  only

business  is  the speculative trading of futures  interests,  the

composition  of  its  trading portfolio can change  significantly

over  any given time period or even within a single trading  day.

Any  changes  in  open positions could positively  or  negatively

materially impact market risk as measured by VaR.



The table below supplements the quarter-end VaR by presenting the

Partnership's high, low and average VaR, as a percentage of total

Net Assets for the four quarterly reporting periods from July  1,

1999 through June 30, 2000.


Primary Market Risk Category        High      Low      Average

Currency                           (2.76)%   (1.24)%   (1.90)%

Interest Rate                      (3.74)    (0.96)    (1.72)

Equity                             (0.73)    (0.25)    (0.41)

Commodity                          (1.36)    (0.67)    (1.05)
Aggregate Value at Risk            (4.71)%   (1.83)%   (2.90)%

<PAGE>

Limitations on Value at Risk as an Assessment of Market Risk

The  face  value  of the market sector instruments  held  by  the

Partnership  is  typically  many  times  the  applicable   margin

requirements.  Margin requirements generally range between 2% and

15%  of  contract face value. Additionally, the use  of  leverage

causes  the face value of the market sector instruments  held  by

the    Partnership to typically  be  many   times    the    total

capitalization   of   the  Partnership.    The   value   of   the

Partnership's open positions thus creates a "risk  of  ruin"  not

typically found in other investments.  The relative size  of  the

positions held may cause the Partnership to incur losses greatly

in excess of VaR within a short period of time, given the effects

of  the  leverage employed and market volatility.  The VaR tables

above, as well as the past performance of the Partnership,  gives

no  indication  of  such "risk of ruin". In  addition,  VaR  risk

measures   should  be  viewed  in  light  of  the   methodology's

limitations, which include the following:

     past  changes in market risk factors will not always result

  in accurate predictions of the distributions and correlations of

  future market movements;

     changes  in portfolio value in response to market movements

  may differ from those of the VaR model;







<PAGE>

    VaR results reflect past trading positions while future risk

  depends on future positions;

     VaR using a one-day time horizon does not fully capture the

  market  risk of positions that cannot be liquidated  or  hedged

  within one day; and

     the  historical  market  risk  factor  data  used  for  VaR

  estimation  may provide only limited insight into  losses  that

  could be incurred under certain unusual market movements.



The VaR tables above present the results of the Partnership's VaR

for  the  Partnership's market risk exposures and on an aggregate

basis  at  June  30, 2000 and for the end of the  four  quarterly

reporting periods from July 1, 1999 through June 30, 2000.  Since

VaR  is  based  on historical data, VaR should not be  viewed  as

predictive  of the Partnership's future financial performance  or

its ability to manage or monitor risk.  There can be no assurance

that the Partnership's actual losses on a particular day will not

exceed  the VaR amounts indicated above or that such losses  will

not occur more than 1 in 100 trading days.



Non-Trading Risk

The  Partnership has non-trading market risk on its foreign  cash

balances not needed for margin.  However, such balances, as  well

as  any  market risk they may represent are immaterial.  At  June

30, 2000 the Partnership's cash balance at DWR was approximately

<PAGE>

82%  of  its  total  Net  Asset Value.  A decline  in  short-term

interest rates will result in a decline in the Partnership's cash

management   income.  This  cash  flow  risk  is  not  considered

material.



Materiality,  as used throughout this section,  is  based  on  an

assessment  of  reasonably  possible  market  movements  and  any

associated  potential losses, taking into account  the  leverage,

optionality and multiplier features of the Partnership's  market-

sensitive instruments.



Qualitative Disclosures Regarding Primary Trading Risk Exposures

The following qualitative disclosures regarding the Partnership's

market risk exposures - except for (A) those disclosures that are

statements of historical fact and (B) the descriptions of how the

Partnership   manages  its  primary  market  risk   exposures   -

constitute  forward-looking  statements  within  the  meaning  of

Section  27A  of  the  Securities Act  and  Section  21E  of  the

Securities  Exchange Act.  The Partnership's primary market  risk

exposures  as  well  as the strategies used and  to  be  used  by

Demeter  and the Trading Advisor for managing such exposures  are

subject  to numerous uncertainties, contingencies and risks,  any

one  of which could cause the actual results of the Partnership's

risk  controls to differ materially from the objectives  of  such

strategies.   Government  interventions,  defaults   and   expro-

priations, illiquid markets, the emergence of dominant

<PAGE>

fundamental  factors, political upheavals, changes in  historical

price  relationships,  an  influx  of  new  market  participants,

increased  regulation  and many other  factors  could  result  in

material  losses  as  well as in material  changes  to  the  risk

exposures  and the risk management strategies of the Partnership.

Investors  must be prepared to lose all or substantially  all  of

their investment in the Partnership.



The  following  were the primary trading risk  exposures  of  the

Partnership  as of June 30, 2000, by market sector.   It  may  be

anticipated  however,  that  these  market  exposures  will  vary

materially over time.



Currency. The primary market exposure in the Partnership at  June

30,  2000 was in the currency sector.  The Partnership's currency

exposure is to exchange rate fluctuations, primarily fluctuations

which   disrupt  the  historical  pricing  relationships  between

different  currencies and currency pairs.  Interest rate  changes

as  well  as political and general economic conditions  influence

these fluctuations.  The Partnership trades in a large number  of

currencies,  including cross-rates - i.e., positions between  two

currencies other than the U.S. dollar.  For the second quarter of

2000, the Partnership's major exposures were in the euro currency

crosses  and outright U.S. dollar positions.  Outright  positions

consist of the U.S. dollar vs. other currencies.  These other



<PAGE>

currencies include the major and minor currencies.  Demeter  does

not  anticipate  that  the  risk  profile  of  the  Partnership's

currency  sector  will change significantly in the  future.   The

currency  trading  VaR  figure includes  foreign  margin  amounts

converted  into  U.S. dollars with an incremental  adjustment  to

reflect  the  exchange  rate risk inherent  to  the  dollar-based

Partnership in expressing VaR in a functional currency other than

dollars.



Interest  Rate. The second largest market exposure  at  June  30,

2000  was  in  the  interest rate complex.  Exposure  was  spread

across the U.S., European, Japanese and Australian interest  rate

sectors.   Interest rate movements directly affect the  price  of

the  sovereign bond futures positions held by the Partnership and

indirectly  affect  the  value of its stock  index  and  currency

positions.   Interest rate movements in one country  as  well  as

relative  interest  rate movements between  countries  materially

impact   the   Partnership's  profitability.   The  Partnership's

primary  interest  rate exposure is generally  to  interest  rate

fluctuations  in the United States and the other  G-7  countries.

The  G-7  countries  consist of France, U.S.,  Britain,  Germany,

Japan,  Italy  and Canada.  However, the Partnership  also  takes

futures  positions  in the government debt of smaller  nations  -

e.g.  Australia.   Demeter anticipates that  G-7  and  Australian

interest rates will remain the primary interest rate exposure of



<PAGE>

the  Partnership  for  the foreseeable future.   The  changes  in

interest rates which have the most effect on the Partnership  are

changes  in long-term, as opposed to short-term, rates.  Most  of

the speculative futures positions held by the Partnership are  in

medium-  to long-term instruments.  Consequently, even a material

change  in  short-term  rates would have  little  effect  on  the

Partnership,  were  the  medium- to  long-term  rates  to  remain

steady.



Equity.   The primary equity exposure is to equity price risk  in

the  G-7  countries.   The  stock index  futures  traded  by  the

Partnership  are  by  law  limited to futures  on  broadly  based

indices.   As  of  June  30,  2000,  the  Partnership's   primary

exposures were in the Nikkei (Japan) and Hang Seng (China)  stock

indices.   The Partnership is primarily exposed to  the  risk  of

adverse price trends or static markets in the U.S., European and

Japanese  indices.  Static markets would not cause  major  market

changes but would make it difficult for the Partnership to  avoid

being "whipsawed" into numerous small losses.



Commodity.

Energy.  On June 30, 2000, the Partnership's energy exposure  was

shared  primarily  by  futures contracts in  the  crude  oil  and

natural  gas  markets.  Price movements in these  markets  result

from political developments in the Middle East, weather patterns,



<PAGE>

and  other economic fundamentals.  It is possible that volatility

will  remain  high.  Significant profits and losses,  which  have

been  experienced  in the past, are expected to  continue  to  be

experienced in this market.  Natural gas has exhibited volatility

in  prices resulting from weather patterns and supply and  demand

factors and may continue in this choppy pattern.



Metals.  The Partnership's primary metals market exposure  is  to

fluctuations  in the price of gold and palladium.   Although  the

Trading Advisor will from time to time trade base metals such  as

aluminum,  copper and nickel, the principal market  exposures  of

the  Partnership have consistently been in precious metals,  gold

and  palladium.  Exposure was evident in the gold market as  gold

prices were volatile during the quarter. Demeter anticipates that

gold  will  remain  the primary metals market  exposure  for  the

Partnership.



Soft  Commodities  and  Agriculturals.  On  June  30,  2000,  the

Partnership  had  exposure  in the markets  that  comprise  these

sectors.  Most of the exposure, however, was in the sugar, cotton

and soybean meal markets.  Supply and demand inequalities, severe

weather disruption and market expectations affect price movements

in these markets.






<PAGE>

Qualitative Disclosures Regarding Non-Trading Risk Exposure

The  following  was  the only non-trading risk  exposure  of  the

Partnership as of June 30, 2000:



Foreign  Currency Balances.    The Partnership's primary  foreign

currency  balances  are in Japanese yen and  Australian  dollars.

The  Partnership controls the non-trading risk of these  balances

by  regularly  converting these balances back into  dollars  upon

liquidation of the respective position.



Qualitative Disclosures Regarding Means of Managing Risk Exposure

The  Partnership and the Trading Advisor, separately, attempt  to

manage   the   risk  of  the  Partnership's  open  positions   in

essentially  the  same  manner in all market  categories  traded.

Demeter  attempts  to manage market exposure by diversifying  the

Partnership's assets among different market sectors  and  trading

approaches, and monitoring the performance of the Trading Advisor

daily.   In  addition,  the Trading Advisor establishes  diversi-

fication guidelines, often set in terms of the maximum margin  to

be  committed  to positions in any one market sector  or  market-

sensitive instrument.



Demeter monitors and controls the risk of the Partnership's  non-

trading   instruments,  cash.   Cash  is  the  only   Partnership

investment directed by Demeter, rather than the Trading Advisor.



<PAGE>

                   PART II.  OTHER INFORMATION


Item 1.  LEGAL PROCEEDINGS

Please  refer  to Legal Proceedings previously disclosed  in  the

Partnership's Form 10-Q for the quarter ended March 31, 2000  and

Form 10-K for the year ended December 31, 1999.



Item 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

The   Partnership  registered  3,000,000  Units  pursuant  to   a

Registration  Statement on Form S-1, which  became  effective  on

November 6, 1998 (SEC File Number 333-60115).



The Partnership registered an additional 6,000,000 Units pursuant

to  a  new  Registration  Statement on  Form  S-1,  which  became

effective on March 27, 2000 (SEC File Number 333-91563).



The managing underwriter for the Partnership is DWR.



Units are being sold at monthly closings at a price equal to 100%

of  the  Net Asset Value per Unit as of the close of business  on

the last day of each month.



Through  June  30, 2000, 2,586,010.398 Units were  sold,  leaving

6,413,989.602  Units unsold as of June 30, 2000.   The  aggregate

price of the Units sold through June 30, 2000 was $25,063,983.



<PAGE>

Since  no expenses are chargeable against proceeds, 100%  of  the

proceeds of the offering have been applied to the working capital

of  the  Partnership for use in accordance with  the  "Investment

Programs,  Use of Proceeds and Trading Policies" section  of  the

prospectus  included as part of the above referenced Registration

Statement.



Item 5.   OTHER INFORMATION

Effective July 1, 2000, Lewis A. Raibley, III resigned  as  Chief

Financial  Officer  and  a Director of Demeter  and  Dean  Witter

Futures Currency Management Inc. Effective July 10, 2000, Raymond

E. Koch replaced Lewis A. Raibley, III as Chief Financial Officer

of Demeter.



Item 6.   Exhibits and Reports on Form 8-K

     (A)  Exhibits

          3.01  Form  of  Limited Partnership  Agreement  of  the
          Partnership,   dated   as  of  March   27,   2000,   is
          incorporated  by  reference  to  Exhibit   A   of   the
          Partnership's Prospectus, dated November 6, 1998, filed
          with the Securities and Exchange Commission pursuant to
          Rule  424(b)(3) under the Securities Act  of  1933,  as
          amended, on March 31, 2000.

          3.02 Certificate of Limited Partnership, dated July 15,
          1998,  is incorporated by reference to Exhibit 3.02  of
          the  Partnership's Form 10-Q (File No. 0-25603) for the
          quarter ended March 31, 1999.

    10.01     Management Agreement, dated as of November 6, 1998,
          among the Partnership, Demeter Management Corporation, and
          Capital Management L.P. is incorporated by reference to Exhibit
          10.01 of the Partnership's Form 10-Q (File No. 0-25603) for the
          quarter ended March 31, 1999.
<PAGE>
    10.02      Customer Agreement, dated as of November 6,  1998,
          between the Partnership and Dean Witter Reynolds Inc. is
          incorporated by reference to Exhibit 10.02 of the Partnership's
          Form 10-Q (File No. 0-25603) for the quarter ended March 31,
          1999.

    10.03     Customer Agreement, dated as of November 6, 1998, among
          the Partnership, Carr Futures, Inc., and Dean Witter Reynolds
          Inc. is incorporated by reference to Exhibit 10.03 of the
          Partnership's Form 10-Q (File No. 0-25603) for the quarter ended
          March 31, 1999.

    10.04     International Foreign Exchange Master Agreement, dated
          as of November 6, 1998, between the Partnership and Carr futures,
          Inc. is incorporated by reference to Exhibit 10.04 of the
          Partnership's Form 10-Q (File No. 0-25603) for the quarter ended
          March 31, 1999.

    10.05      Subscription and Exchange Agreement and  Power  of
          Attorney to be executed by each purchase of Units is incorporated
          by reference to Exhibit B of the Partnership's Prospectus dated
          March 27, 2000, filed with the Securities and Exchange Commission
          pursuant to Rule 424(b)(3) under the Securities Act of 1933, as
          amended, on March 31, 2000.

    10.06     Escrow Agreement, dated November 6, 1998, among the
          Partnership, Demeter Management Corporation, Dean Witter Reynolds
          Inc., and Chemical Bank is incorporated by reference in Exhibit
          10.06 of the Partnership's Form 10-Q (File No. 0-25603) for the
          quarter ended March 31, 1999.

     (B)  Reports on Form 8-K. - None.


















<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.




                        Morgan Stanley Dean Witter Charter
                        Graham L.P. (Registrant)

                        By:   Demeter Management Corporation
                              (General Partner)

August 11, 2000         By:/s/Raymond E. Koch     __________
                              Raymond E. Koch
                              Chief Financial Officer






The  General  Partner  which signed the above  is  the  only  party
authorized  to  act  for  the Registrant.  The  Registrant  has  no
principal   executive   officer,   principal   financial   officer,
controller,  or principal accounting officer and has  no  Board  of
Directors.