UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment [ x ]; Amendment Number:
This Amendment (Check only one): [ ] is a restatement
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Keating Investment Counselors, Inc.
Address: 777 E. Atlantic Ave., Suite 303
Delray Beach, FL 33483
13F File Number:
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: Linda F. Sierra
Title: Vice President
Phone: 561 278-7862
Signature, Place, and Date of Signing:
Linda F. Sierra Delray Beach, Florida June 16, 1999
Report Type (Check only one):
[ x ] 13F HOLDING 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.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total:
Form 13F Information Table Value Total:
List of Other Included Managers:
No. 13F File Number Name
<PAGE>
<TABLE> <C> <C> <C>
KEATING INVESTMENT COUNSELORS, INC.
FORM 13F
March 31, 1999
Voting Authority
--------------------------
Value Shares/ Sh/ Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AGL Resources COM 001204106 1177 67000.00 SH Sole 67000.00
44 2500.00 SH Other 2500.00
AT&T Corp. COM 001957109 319 3991.96 SH Sole 3991.96
160 2000.00 SH Other 2000.00
Abbott Laboratories COM 002824100 10873232260.00 SH Sole 14000.00 218260.00
562 12000.00 SH Other 12000.00
Allied Signal Inc. COM 019512102 8047163600.00 SH Sole 8400.00 155200.00
1279 26000.00 SH Other 26000.00
Allstate Corp. COM 020002101 8615232450.00 SH Sole 5400.00 227050.00
519 14000.00 SH Other 14000.00
American Home Products COM 026609107 517 7920.00 SH Sole 7920.00
American International Group COM 026874107 2684 22247.00 SH Sole 22247.00
665 5512.00 SH Other 5512.00
Ameritech COM 030954101 461 8000.00 SH Sole 8000.00
Apple Computer COM 038783310 359 10000.00 SH Sole 10000.00
Atlantic Richfield COM 048825103 9240126361.00 SH Sole 7300.00 119061.00
610 8340.00 SH Other 8340.00
Avon Products COM 054303102 13681290700.00 SH Sole 14200.00 276500.00
1064 22600.00 SH Other 22600.00
BP Amoco PLC Spons ADR COM 055622104 1102 10911.00 SH Sole 10911.00
630 6236.00 SH Other 6236.00
Banc One Corp COM 06423A103 965 17517.00 SH Sole 4000.00 13517.00
Bank of America Corp. COM 060505104 12893182549.00 SH Sole 12672.00 169877.00
1435 20318.00 SH Other 20318.00
Bank of New York COM 064057102 288 8000.00 SH Sole 8000.00
BankBoston Corp. COM 060716107 217 5000.00 SH Sole 5000.00
191 4400.00 SH Other 4400.00
Bell Atlantic COM 077853109 590 11414.00 SH Sole 11414.00
BellSouth Corp. COM 079860102 176 4400.00 SH Sole 4400.00
48 1200.00 SH Other 1200.00
Boeing Co. COM 097023105 3691108550.00 SH Sole 3500.00 105050.00
150 4400.00 SH Other 4400.00
Bristol Myers Squibb COM 110122108 14689229062.00 SH Sole 17800.00 211262.00
3001 46800.00 SH Other 46800.00
Burlington Northern Santa Fe C COM 12189T104 8906270900.00 SH Sole 13200.00 257700.00
803 24411.00 SH Other 24411.00
CINergy Corp COM 172070104 413 15000.00 SH Sole 15000.00
50 1800.00 SH Other 1800.00
Caterpillar Inc. COM 149123101 386 8400.00 SH Sole 8400.00
Chase Manhattan Corp New COM 16161A108 4941 60724.00 SH Sole 5800.00 54924.00
1448 17792.00 SH Other 17792.00
Chemed Corp COM 163596109 309 12000.00 SH Sole 12000.00
Chevron Corp COM 166751107 444 5000.00 SH Sole 5000.00
320 3600.00 SH Other 3600.00
Citigroup Inc. COM 172967101 4110 64350.00 SH Sole 2000.00 62350.00
Coca-Cola Co COM 191216100 614 10000.00 SH Sole 10000.00
Consolidated Natural Gas COM 209615103 582 11950.00 SH Sole 11950.00
341 7000.00 SH Other 7000.00
Dominion Resources COM 257470104 166 4500.00 SH Sole 4500.00
85 2300.00 SH Other 2300.00
Dupont COM 263534109 2226 38346.00 SH Sole 1600.00 36746.00
639 11000.00 SH Other 11000.00
Emerson Electric COM 291011104 7226136500.00 SH Sole 6700.00 129800.00
513 9700.00 SH Other 9700.00
Exxon COM 302290101 2388 33840.00 SH Sole 1200.00 32640.00
931 13190.00 SH Other 13190.00
First Union Corp. COM 337358105 2509 46950.00 SH Sole 2200.00 44750.00
96 1800.00 SH Other 1800.00
FirstMerit Corp COM 337915102 2300 89316.00 SH Sole 89316.00
Ford Motor Co. COM 345370100 210 3700.00 SH Sole 3700.00
57 1000.00 SH Other 1000.00
GTE Corp. COM 362320103 2611 43156.00 SH Sole 3100.00 40056.00
260 4300.00 SH Other 4300.00
General Electric COM 369604103 28861260890.00 SH Sole 16400.00 244490.00
4158 37590.00 SH Other 37590.00
General Motors COM 370442105 296 3400.00 SH Sole 3400.00
52 600.00 SH Other 600.00
Glaxo Welcome PLC-ADR COM 37733W105 67 1000.00 SH Sole 1000.00
134 2000.00 SH Other 2000.00
Halliburton Co COM 406216101 5887152900.00 SH Sole 4100.00 148800.00
520 13500.00 SH Other 13500.00
Harris Corp COM 413875105 8745305510.00 SH Sole 15000.00 290510.00
744 26000.00 SH Other 26000.00
Hewlett Packard COM 428236103 10240151000.00 SH Sole 6100.00 144900.00
1417 20900.00 SH Other 20900.00
IBM COM 459200101 1232 6950.00 SH Sole 800.00 6150.00
248 1400.00 SH Other 1400.00
ICN Pharmaceuticals COM 448924100 4417175800.00 SH Sole 13500.00 162300.00
50 2000.00 SH Other 2000.00
Intel Corp COM 458140100 5962 50150.00 SH Sole 1600.00 48550.00
131 1100.00 SH Other 1100.00
Johnson & Johnson COM 478160104 338 3614.00 SH Sole 3614.00
576 6160.00 SH Other 6160.00
May Department Store COM 577778103 397 10155.00 SH Sole 10155.00
McDonald's Corp COM 580135101 1367 30160.00 SH Sole 160.00 30000.00
317 7000.00 SH Other 7000.00
Merck & Co Inc COM 589331107 1234 15400.00 SH Sole 15400.00
801 10000.00 SH Other 10000.00
Microsoft Corp. COM 594918104 296 3300.00 SH Sole 3300.00
Minnesota Mining & Manufacturi COM 604059105 6244 88250.00 SH Sole 4100.00 84150.00
403 5700.00 SH Other 5700.00
Mobil Corp. COM 607059102 4391 49900.00 SH Sole 3350.00 46550.00
563 6400.00 SH Other 6400.00
Monsanto COM 611662107 988 21500.00 SH Sole 21500.00
717 15600.00 SH Other 15600.00
PepsiCo Inc. COM 713448108 9681247045.00 SH Sole 13700.00 233345.00
788 20100.00 SH Other 20100.00
Pfizer COM 717081103 3003 21640.00 SH Sole 21640.00
1818 13100.00 SH Other 13100.00
Philip Morris COM 718154107 4499127850.00 SH Sole 16500.00 111350.00
1440 40911.00 SH Other 40911.00
Procter & Gamble Co COM 742718109 545 5564.00 SH Sole 5564.00
157 1600.00 SH Other 1600.00
Reliant Energy Inc. COM 579 22200.00 SH Sole 22200.00
SBC Communications COM 78387G103 968 20524.00 SH Sole 20524.00
340 7200.00 SH Other 7200.00
SCANA Corp COM 805898103 347 16000.00 SH Sole 16000.00
Southern Company COM 842587107 457 19600.00 SH Sole 19600.00
Specialty Retail Group COM 84751D106 0 10000.00 SH Sole 10000.00
SunTrust Banks Inc COM 867914103 136 2180.00 SH Sole 2180.00
87 1400.00 SH Other 1400.00
Teleflex Inc. COM 879369106 9078266520.00 SH Sole 10720.00 255800.00
668 19600.00 SH Other 19600.00
Tenneco Inc COM 88037E101 4156148750.00 SH Sole 10500.00 138250.00
427 15300.00 SH Other 15300.00
Texaco Inc. COM 881694103 102 1800.00 SH Sole 1800.00
136 2400.00 SH Other 2400.00
Thermo Electron Corp COM 883556102 1747128789.00 SH Sole 13035.00 115754.00
183 13462.00 SH Other 13462.00
U S West Inc (New) COM 91273H101 457 8300.00 SH Sole 8300.00
Utilicorp United COM 918005109 530 23300.00 SH Sole 23300.00
34 1500.00 SH Other 1500.00
Warner Lambert Company COM 934488107 1378 20800.00 SH Sole 2700.00 18100.00
331 5000.00 SH Other 5000.00
Western Resources COM 959425109 2482 93000.00 SH Sole 4000.00 89000.00
147 5500.00 SH Other 5500.00
REPORT SUMMARY 126 DATA RECORDS 285308 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>