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 [ ]; Amendment Number:
This Amendment (Check only one.): [ ] 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: 56
Form 13F Information Table Value Total: $110,405
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE>
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 1444 61940 SH SOLE 61940
American Home Products COM 026609107 8005 122675 SH SOLE 122675
American Intl. Group COM 026874107 541 4481 SH SOLE 4481
Astoria Financial Corp COM 046265104 1986 39718 SH SOLE 39718
BCE Inc. COM 05534B109 3320 74930 SH SOLE 74930
Bank One Corp. COM 06423A103 2354 42747 SH SOLE 42747
BankAmerica Corp. (new) COM 06605F102 224 3168 SH SOLE 3168
BankBoston Corp. COM 06605R106 2598 59972 SH SOLE 59972
Bristol-Myers-Squibb COM 110122108 499 7788 SH SOLE 7788
Citigroup, Inc. COM 172967101 2431 38057 SH SOLE 38057
Colgate-Palmolive Co COM 194162103 299 3250 SH SOLE 3250
Columbia Energy COM 197648108 2473 47325 SH SOLE 47325
Computer Sciences Corp. COM 205363104 2994 54246 SH SOLE 54246
Conoco Inc. 'A' COM 208251306 1717 69900 SH SOLE 69900
Corning Inc. COM 219350105 2393 39876 SH SOLE 39876
DST Systems COM 233326107 2473 41174 SH SOLE 41174
Delta Air Lines COM 247361108 2481 35696 SH SOLE 35696
DuPont (E.I.) COM 263534109 2600 44784 SH SOLE 44784
El Paso Energy COM 283905107 2396 73310 SH SOLE 73310
Elan Corp. ADS COM 284131208 2855 40932 SH SOLE 40932
Eli Lilly COM 532457108 2281 26871 SH SOLE 26871
Exxon Corp. COM 302290101 268 3800 SH SOLE 3800
Fannie Mae COM 313586109 2907 41975 SH SOLE 41975
First Union Corp. COM 337358105 273 5112 SH SOLE 5112
Fleet Financial Group Inc. COM 338915101 2399 63756 SH SOLE 63756
Four Media Company COM 350872107 172 28584 SH SOLE 28584
Frontier Corp. COM 35906P105 3881 74810 SH SOLE 74810
General Electric COM 369604103 518 4679 SH SOLE 4679
Halliburton Company COM 406216101 1712 44456 SH SOLE 44456
Harmonic Inc. COM 413160102 183 6620 SH SOLE 6620
Honeywell COM 438506107 2043 26943 SH SOLE 26943
Johnson & Johnson COM 478160104 2611 27920 SH SOLE 27920
MCI WorldCom COM 55268B106 3855 43526 SH SOLE 43526
Mellon Bank COM 585509102 2826 40162 SH SOLE 40162
Merck & Co. Inc. COM 589331107 224 2800 SH SOLE 2800
Mitchell Energy/Dev. 'B' COM 606592301 168 13470 SH SOLE 13470
NCR Corp. COM 62886E108 3348 66965 SH SOLE 66965
Oracle Corp. COM 68389X105 1792 67935 SH SOLE 67935
Outback Steakhouse COM 689899102 2447 74727 SH SOLE 74727
Paine Webber Group COM 695629105 1890 47396 SH SOLE 47396
Pepsico Inc. COM 713448108 2623 66943 SH SOLE 66943
Pfizer Inc. COM 717081103 555 4000 SH SOLE 4000
Proctor & Gamble COM 742718109 584 5966 SH SOLE 5966
Republic Security Financial Co COM 760758102 88 9522 SH SOLE 9522
Royal Dutch Pete Co NY Registr COM 780257705 229 4400 SH SOLE 4400
SBC Communications COM 78387G103 2958 62679 SH SOLE 62679
Schering-Plough Corp. COM 806605101 206 3720 SH SOLE 3720
Scientific-Atlanta COM 808655104 2293 84154 SH SOLE 84154
Sears, Roebuck & Co. COM 812387108 1327 29364 SH SOLE 29364
Sovereign Bancorp Inc. COM 845905108 1369 111738 SH SOLE 111738
Sterling Commerce COM 859205106 2264 73622 SH SOLE 73622
Telefonica SA Sponsored ADR COM 879382208 2470 19335 SH SOLE 19335
Time Warner Inc. COM 887315109 3390 47868 SH SOLE 47868
Unilever N.V. COM 904784709 2399 36105 SH SOLE 36105
United Technologies COM 913017109 3338 24648 SH SOLE 24648
Xerox Corp. COM 984121103 2436 46736 SH SOLE 46736
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