UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year of Quarter Ended: March 31, 1999
Check here if Amendment [ X ]; Amendment Number: 1
This Amendment (Check only one.): [ X ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Philadelphia Investment Management Company
Address: 1845 Walnut Street
Suite 875
Philadelphia, PA 19103
13F File Number: 801-26332
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person signing
the report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists, and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: William M. Shettle
Title: President
Phone: 215-569-0079
Signature, Place, and Date of Signing:
William M. Shettle Philadelphia, Pennsylvania June 23, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 66
Form 13F Information Table Value Total: $112,689
List of Other Included Managers:
No. 13F File Number Name
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3Com Corp. COM 885535104 1455 62430 SH SOLE 62430
America West Hldgs Corp 'B' COM 023657208 197 10320 SH SOLE 10320
American Home Products COM 026609107 8031 123079 SH SOLE 123079
American Intl. Group COM 026874107 541 4481 SH SOLE 4481
Astoria Financial Corp COM 046265104 2002 40043 SH SOLE 40043
BCE Inc. COM 05534B109 3342 75420 SH SOLE 75420
Bank One Corp. COM 06423A103 2370 43036 SH SOLE 43036
BankAmerica Corp. (new) COM 06605F102 224 3168 SH SOLE 3168
BankBoston Corp. COM 06605R106 2617 60416 SH SOLE 60416
Bristol-Myers-Squibb COM 110122108 508 7928 SH SOLE 7928
Citigroup, Inc. COM 172967101 2459 38497 SH SOLE 38497
Colgate-Palmolive Co COM 194162103 299 3250 SH SOLE 3250
Columbia Energy COM 197648108 2490 47648 SH SOLE 47648
Computer Sciences Corp. COM 205363104 3015 54630 SH SOLE 54630
Conoco Inc. 'A' COM 208251306 1729 70410 SH SOLE 70410
Corning Inc. COM 219350105 2414 40230 SH SOLE 40230
Correctional Services Corp. COM 219921103 80 9650 SH SOLE 9650
DST Systems COM 233326107 2531 42141 SH SOLE 42141
Delta Air Lines COM 247361108 2502 36000 SH SOLE 36000
Donegal Group COM 257701102 118 9645 SH SOLE 9645
DuPont (E.I.) COM 263534109 2615 45032 SH SOLE 45032
El Paso Energy COM 283905107 2415 73890 SH SOLE 73890
Elan Corp. ADS COM 284131208 2876 41240 SH SOLE 41240
Eli Lilly COM 532457108 2291 26996 SH SOLE 26996
Exxon Corp. COM 302290101 268 3800 SH SOLE 3800
Fannie Mae COM 313586109 2928 42280 SH SOLE 42280
First Union Corp. COM 337358105 273 5112 SH SOLE 5112
Fleet Financial Group Inc. COM 338915101 2416 64200 SH SOLE 64200
Flushing Financial Corp. COM 343873105 156 10927 SH SOLE 10927
Four Media Company COM 350872107 224 37324 SH SOLE 37324
Frontier Corp. COM 35906P105 3916 75480 SH SOLE 75480
General Electric COM 369604103 518 4679 SH SOLE 4679
Halliburton Company COM 406216101 1725 44800 SH SOLE 44800
Harmonic Inc. COM 413160102 238 8610 SH SOLE 8610
Honeywell COM 438506107 2057 27135 SH SOLE 27135
Informix Corporation COM 456779107 72 9750 SH SOLE 9750
Intermedia Comm. COM 458801107 205 7710 SH SOLE 7710
Jacobs Engineering Group COM 469814107 191 4840 SH SOLE 4840
Johnson & Johnson COM 478160104 2629 28120 SH SOLE 28120
MCI WorldCom COM 55268B106 3883 43840 SH SOLE 43840
Mellon Bank COM 585509102 2847 40450 SH SOLE 40450
Merck & Co. Inc. COM 589331107 224 2800 SH SOLE 2800
Mitchell Energy/Dev. 'B' COM 606592301 197 15800 SH SOLE 15800
NCR Corp. COM 62886E108 3373 67465 SH SOLE 67465
Oracle Corp. COM 68389X105 1806 68460 SH SOLE 68460
Outback Steakhouse COM 689899102 2473 75507 SH SOLE 75507
Owens & Minor Inc. COM 690732102 105 10330 SH SOLE 10330
PSS World Medical COM 69366A100 82 9320 SH SOLE 9320
Paine Webber Group COM 695629105 1910 47890 SH SOLE 47890
Pepsico Inc. COM 713448108 2642 67427 SH SOLE 67427
Pfizer Inc. COM 717081103 555 4000 SH SOLE 4000
Premisys Communications Inc. COM 740584107 88 10170 SH SOLE 10170
Proctor & Gamble COM 742718109 584 5966 SH SOLE 5966
Republic Security Financial Co COM 760758102 116 12579 SH SOLE 12579
Royal Dutch Pete Co NY Registr COM 780257705 229 4400 SH SOLE 4400
SBC Communications COM 78387G103 2979 63126 SH SOLE 63126
Schering-Plough Corp. COM 806605101 206 3720 SH SOLE 3720
Scientific-Atlanta COM 808655104 2311 84800 SH SOLE 84800
Sears, Roebuck & Co. COM 812387108 1338 29615 SH SOLE 29615
Sovereign Bancorp Inc. COM 845905108 1380 112690 SH SOLE 112690
Sterling Commerce COM 859205106 2282 74219 SH SOLE 74219
Telefonica SA Sponsored ADR COM 879382208 2489 19482 SH SOLE 19482
Time Warner Inc. COM 887315109 3419 48280 SH SOLE 48280
Unilever N.V. COM 904784709 2416 36370 SH SOLE 36370
United Technologies COM 913017109 3366 24850 SH SOLE 24850
Xerox Corp. COM 984121103 2455 47090 SH SOLE 47090
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