<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 22
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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<NAME> Wesmark Funds
<SERIES>
<NUMBER> 004
<NAME> Wesmark Balanced Fund
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> Jan-31-1999
<PERIOD-END> Jan-31-1999
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<INVESTMENTS-AT-VALUE> "60,608,864"
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> "60,886,626"
<DIVIDEND-INCOME> "610,513"
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> WESMARK FUNDS
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<NAME> WESMARK BOND FUND
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<PERIOD-END> JAN-31-1999
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<INVESTMENTS-AT-VALUE> "116,306,303"
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<OTHER-ITEMS-ASSETS> 0
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<OVERDISTRIBUTION-GAINS> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> "(753,062)"
<NET-INVESTMENT-INCOME> "4,572,517"
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<NET-CHANGE-FROM-OPS> "7,164,060"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(4,572,517)"
<DISTRIBUTIONS-OF-GAINS> "(266,690)"
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<NUMBER-OF-SHARES-REDEEMED> "(818,953)"
<SHARES-REINVESTED> "102,148"
<NET-CHANGE-IN-ASSETS> "117,645,663"
<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> "808,531"
<AVERAGE-NET-ASSETS> "106,689,201"
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.430
<PER-SHARE-GAIN-APPREC> 0.130
<PER-SHARE-DIVIDEND> (0.430)
<PER-SHARE-DISTRIBUTIONS> (0.020)
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<PER-SHARE-NAV-END> 10.110
<EXPENSE-RATIO> 0.90
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001007226
<NAME> WESMARK FUNDS
<SERIES>
<NUMBER> 002
<NAME> WESMARK GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> "105,015,468"
<INVESTMENTS-AT-VALUE> "135,087,561"
<RECEIVABLES> "99,720"
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<NET-ASSETS> "135,077,675"
<DIVIDEND-INCOME> "957,358"
<INTEREST-INCOME> "933,593"
<OTHER-INCOME> 0
<EXPENSES-NET> "(1,279,652)"
<NET-INVESTMENT-INCOME> "611,299"
<REALIZED-GAINS-CURRENT> "9,639,367"
<APPREC-INCREASE-CURRENT> "15,319,589"
<NET-CHANGE-FROM-OPS> "25,570,255"
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<DISTRIBUTIONS-OF-INCOME> "(663,101)"
<DISTRIBUTIONS-OF-GAINS> "(8,229,788)"
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> "(1,356,413)"
<SHARES-REINVESTED> "373,063"
<NET-CHANGE-IN-ASSETS> "20,935,541"
<ACCUMULATED-NII-PRIOR> "66,991"
<ACCUMULATED-GAINS-PRIOR> "2,255,988"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "927,701"
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<GROSS-EXPENSE> "1,287,728"
<AVERAGE-NET-ASSETS> "122,994,077"
<PER-SHARE-NAV-BEGIN> 11.150
<PER-SHARE-NII> 0.060
<PER-SHARE-GAIN-APPREC> 2.380
<PER-SHARE-DIVIDEND> (0.060)
<PER-SHARE-DISTRIBUTIONS> (0.790)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 12.740
<EXPENSE-RATIO> 1.04
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001007226
<NAME> WESMARK FUNDS
<SERIES>
<NUMBER> 001
<NAME> WESMARK WEST VIRGINIA MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JAN-31-1999
<PERIOD-END> JAN-31-1999
<INVESTMENTS-AT-COST> "63,891,842"
<INVESTMENTS-AT-VALUE> "66,498,852"
<RECEIVABLES> "1,192,804"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> "8,510"
<TOTAL-ASSETS> "67,700,166"
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "266,501"
<TOTAL-LIABILITIES> "266,501"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "64,822,030"
<SHARES-COMMON-STOCK> "6,476,963"
<SHARES-COMMON-PRIOR> "6,443,993"
<ACCUMULATED-NII-CURRENT> 177
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "4,448"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "2,607,010"
<NET-ASSETS> "67,433,665"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "3,249,364"
<OTHER-INCOME> 0
<EXPENSES-NET> "(486,367)"
<NET-INVESTMENT-INCOME> "2,762,997"
<REALIZED-GAINS-CURRENT> "57,103"
<APPREC-INCREASE-CURRENT> "715,928"
<NET-CHANGE-FROM-OPS> "3,536,028"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,762,997)"
<DISTRIBUTIONS-OF-GAINS> "(57,098)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "840,868"
<NUMBER-OF-SHARES-REDEEMED> "(828,516)"
<SHARES-REINVESTED> "20,618"
<NET-CHANGE-IN-ASSETS> "1,052,909"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "4,621"
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "396,975"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "677,755"
<AVERAGE-NET-ASSETS> "65,795,025"
<PER-SHARE-NAV-BEGIN> 10.300
<PER-SHARE-NII> 0.430
<PER-SHARE-GAIN-APPREC> 0.120
<PER-SHARE-DIVIDEND> (0.430)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.410
<EXPENSE-RATIO> 0.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
INDEPENDENT AUDITORS' REPORT
To the Board of Trustees and Shareholders of
WESMARK FUNDS:
In planning and performing our audit of the financial statements
of the WesMark Funds (comprised of the following portfolios:
WesMark Growth Fund, WesMark Balanced Fund, WesMark Bond Fund,
WesMark West Virginia Municipal Bond Fund) for the year ended
January 31, 1999 (on which we have issued our reports dated March
19, 1999), we considered its internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of
Form N-SAR, and not to provide assurance on internal control.
The management of the WesMark Funds is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external
purposes that are fairly presented in conformity with generally
accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of
any evaluation of internal control to future periods is subject to
the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of January 31, 1999.
This report is intended solely for the information and use of
management, the Board of Trustees of WesMark Funds, and the
Securities and Exchange Commission and is not intended to be, and
should not be, used by anyone other than these specified parties.
DELOITTE & TOUCHE LLP
March 19, 1999
Item 77Q1(a)(ii)
WesMark Funds
Amendment #2
to the By-Laws
(effective February 27, 1998)
Delete Section 5 Proxies of Article IV Shareholders' Meetings, and
replace with the following:
Section 5. Proxies. Any shareholder entitled to vote at
any meeting of shareholders may vote either in person, by
telephone, by electronic means including facsimile, or by
proxy, but no proxy which is dated more than six months
before the meeting named therein shall be accepted unless
otherwise provided in the proxy. Every proxy shall be in
writing, subscribed by the shareholder or his duly
authorized agent or be in such other form as may be
permitted by law, including documents conveyed by electronic
transmission. Every proxy shall be dated, but need not be
sealed, witnessed or acknowledged. The placing of a
shareholder's name on a proxy or authorizing another to act
as the shareholder's agent, pursuant to telephone or
electronically transmitted instructions obtained in
accordance with procedures reasonably designed to verify
that such instructions have been authorized by such
shareholder, shall constitute execution of a proxy by or on
behalf of such shareholder. Where Shares are held of record
by more than one person, any co-owner or co-fiduciary may
execute the proxy or give authority to an agent, unless the
Secretary of the Trust is notified in writing by any co-
owner or co-fiduciary that the joinder of more than one is
to be required. All proxies shall be filed with and
verified by the Secretary or an Assistant Secretary of the
Trust, or the person acting as Secretary of the Meeting.
Unless otherwise specifically limited by their term, all
proxies shall entitle the holders thereof to vote at any
adjournment of such meeting but shall not be valid after the
final adjournment of such meeting.
Item 77Q1(a)(iii)
WesMark Funds
Amendment #3
to the By-Laws
(effective May 12, 1998)
Strike Section 3 - Place of Meeting of Article IV - Shareholders'
Meetings and replace it with the following:
Section 3. Place of Meeting. Meetings of the shareholders
of the Trust or a particular Series or Class shall be held
at such place within or without The Commonwealth of
Massachusetts as may be fixed from time to time by
resolution of the Trustees.
Strike Section 6 - Place of Meeting of Article V - Trustees'
Meetings and replace it with the following:
Section 6. Place of Meeting. Meetings of the Trustees
shall be held at such place within or without The
Commonwealth of Massachusetts as fixed from time to time by
resolution of the Trustees, or as the person or persons
requesting said meeting to be called may designate, but any
meeting may adjourn to any other place.
Item 77Q1(a)(i)
WesMark Funds
Amendment #1
to the By-Laws
(effective February 23, 1998)
Delete Sections 1, 2 and 3 of Article I, OFFICERS AND THEIR ELECTION,
and replace with:
Section 1. Officers. The Officers of the Trust shall be a
President, one or more Vice Presidents, a Treasurer, and a
Secretary. The Board of Trustees, in its discretion, may
also elect or appoint a Chairman of the Board of Trustees
(who must be a Trustee) and other Officers or agents,
including one or more Assistant Vice Presidents, one or more
Assistant Secretaries, and one or more Assistant Treasurers.
A Vice President, the Secretary or the Treasurer may appoint
an Assistant Vice President, an Assistant Secretary or an
Assistant Treasurer, respectively, to serve until the next
election of Officers. Two or more offices may be held by a
single person except the offices of President and Vice
President may not be held by the same person concurrently.
It shall not be necessary for any Trustee or any Officer to
be a holder of shares in any Series or Class of the Trust.
Section 2. Election of Officers. The Officers shall be
elected annually by the Trustees. Each Officer shall hold
office for one year and until the election and qualification
of his successor, or until earlier resignation or removal.
The Chairman of the Board of Trustees, if there is one,
shall be elected annually by and from the Trustees, and
serve until a successor is so elected and qualified, or
until earlier resignation or removal.
Section 3. Resignations and Removals and Vacancies. Any
Officer of the Trust may resign at any time by filing a
written resignation with the Board of Trustees (or Chairman
of the Trustees, if there is one), with the President, or
with the Secretary. Any such resignation shall take effect
at the time specified therein or, if no time is specified,
at the time of receipt. Unless otherwise specified therein,
the acceptance of such resignation shall not be necessary to
make it effective. Any Officer elected by the Board of
Trustees or whose appointment has been ratified by the Board
of Trustees may be removed with or without cause at any time
by a majority vote of all of the Trustees. Any other
employee of the Trust may be removed or dismissed at any
time by the President. Any vacancy in any of the offices,
whether by resignation, removal or otherwise, may be filled
for the unexpired portion of the term by the President. A
vacancy in the office of Assistant Vice President may be
filled by a Vice President; in the office of Assistant
Secretary by the Secretary; or in the office of Assistant
Treasurer by the Treasurer. Any appointment to fill any
vacancy shall serve subject to ratification by the Board of
Trustees at its next regular meeting.
