JACOBS & CO/CA
13F-HR, 1999-10-05
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 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: Jacobs and Company
Address: 595 Market Street
	   Suite 1140
         San Francisco, CA 94105

13F File Number: 28-6710

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, correctly 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:  Matt Jacobson
Title: Partner
Phone: 415-777-1617
Signature, place, and date of signing:

	Matt Jacobson  San Francisco, CA October 5, 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:
<PAGE>











<TABLE>              <C>                                                 <C>
                                                 Form 13F Information Tab
                                                 Value           Shares  SH/ InvstOther  Voting  Authority
Name of Issuer       Title of Class  CUSIP       (x$1,000)      Prn Amt  PRN DscreManager(a) Sole(b) (c)
None


Abbott Laboratories  COM             002824 10 0     3,027        82,500 SH                20,000   0     0
Air Express Intl CorpCOM             009104 10 0       575        25,340 SH                     0   0     0
Albertsons           COM             013104 10 4       798        20,160 SH                     0   0     0
American Greetings   CL A            026375 10 5       772        29,985 SH                 6,000   0     0
American Home ProductCOM             026609 10 7     3,916        94,359 SH                17,200   0     0
Ameritech            COM             030954 10 1     1,123        16,820 SH                     0   0     0
Anheuser Busch       COM             035229 10 3     4,041        57,672 SH                12,410   0     0
AT&T                 COM             001957 10 9     3,343        76,858 SH                16,590   0     0
AT&T Liberty Media GrCOM             001957 20 8     2,095        56,144 SH                     0   0     0
Atlantic Richfield CoCOM             048825 10 3     2,246        25,341 SH                 5,160   0     0
Atrix Labs Inc       COM             04962L 10 1        69        10,000 SH                     0   0     0
Auto Data Processing COM             053015 10 3     1,258        28,184 SH                18,000   0     0
Avnet Inc            COM             053807 10 3       714        17,003 SH                     0   0     0
Baker Hughes         COM             057224 10 7       223         7,700 SH                     0   0     0
Baxter International COM             071813 10 9     2,428        40,296 SH                 3,757   0     0
Becton Dickinson & CoCOM             075887 10 9     2,599        92,616 SH                16,000   0     0
Bell Atlantic Corp   COM             077853 10 9     3,261        48,439 SH                13,750   0     0
Bell South           COM             079860 10 2     1,650        36,660 SH                 8,000   0     0
Bestfoods            COM             08658U 10 1     1,893        38,980 SH                 9,000   0     0
Biogen               COM             090597 10 5       272         3,450 SH                     0   0     0
Boeing               COM             097023 10 5     2,522        59,175 SH                 8,150   0     0
Bristol Myers Squibb COM             110122 10 8     6,242        92,476 SH                12,700   0     0
BP Amoco             AMERN SH        110889 40 9     3,501        31,595 SH                17,662   0     0
Cadbury Schweppes PLCADR             127209 30 2     1,365        49,307 SH                 9,090   0     0
Cardinal Health Inc. COM             14149y 10 8     1,256        23,045 SH                 5,603   0     0
Chevron              COM             166751 10 7       871         9,812 SH                     0   0     0
Chiron Corp          COM             170040 10 9       324        11,708 SH                   616   0     0
Cisco Systems        COM             17275R 10 2     3,730        54,404 SH                13,500   0     0
Citigroup Inc.       COM             172967 10 1       232         5,264 SH                     0   0     0
Coca Cola Company    COM             191216 10 0       776        16,088 SH                     0   0     0
Compaq               COM             204493 10 3       499        21,825 SH                     0   0     0
Conoco Cl. B         COM             208251 40 5     1,080        39,443 SH                 8,475   0     0
Corning Inc          COM             219350 10 5     3,635        53,017 SH                 8,100   0     0
Costco Companies Inc.COM             22160Q 10 2     1,813        25,187 SH                     0   0     0
Crown Cork & Seal    COM             228255 10 5       206         8,483 SH                     0   0     0
Crown Cork & Seal PfdPFD CV 4.5%     228255 30 3       452        20,235 SH                 3,000   0     0
CVS Corp.            COM             126650 10 0       261         6,400 SH                 6,400   0     0
Dayton-Hudson        COM             239753 10 6     2,875        47,865 SH                 9,600   0     0
Diebold Inc          COM             253651 10 3       283        12,225 SH                     0   0     0
Disney               COM             254687 10 6     1,354        52,060 SH                 3,460   0     0
Dorchester Hugoton   DEPST RCPT      258205 20 2       126        10,000 SH                     0   0     0
Dow Jones            COM             260561 10 5     1,172        21,954 SH                 6,200   0     0
Duke Energy          COM             264399 10 6       324         5,883 SH                     0   0     0
DuPont               COM             263534 10 9     1,330        21,985 SH                 4,027   0     0
Eastman Kodak        COM             277461 10 9     3,236        42,784 SH                 7,549   0     0
Electronic Data SysteCOM             285661 10 4     1,873        35,376 SH                 4,927   0     0
Eli Lilly            COM             532457 10 8     4,303        67,050 SH                12,200   0     0
Emerson Electric     COM             291011 10 4       754        11,925 SH                     0   0     0
Enron Corp           COM             293561 10 6       953        23,200 SH                     0   0     0
Exxon Corporation    COM             302290 10 1     2,255        29,671 SH                 4,800   0     0
Gannett              COM             364730 10 1     3,011        43,512 SH                 5,400   0     0
General Electric     COM             369604 10 3     2,497        21,058 SH                 9,400   0     0
Genzyme Corporation  COM             372917 10 4       220         4,875 SH                     0   0     0
GTE                  COM             362320 10 3     1,695        22,053 SH                 6,000   0     0
Hewlett-Packard CompaCOM             428236 10 3     4,908        54,080 SH                11,600   0     0
Hilton Hotels        COM             432848 10 9       194        19,650 SH                     0   0     0
Hubbell Inc Class A  CL  A           443510 10 2       707        21,025 SH                 1,100   0     0
Hubbell Inc Class B  CL  B           443510 20 1       863        27,078 SH                 6,796   0     0
IMS Health Inc       COM             449934 10 8     1,332        58,371 SH                 8,100   0     0
Intel Corp           COM             458140 10 0     7,928       106,685 SH                12,450   0     0
Intl Business MachineCOM             459200 10 1     8,968        74,116 SH                12,600   0     0
Jacobson Stores      COM             469834 10 5       343        71,255 SH                     0   0     0
Johnson & Johnson    COM             478160 10 4     3,579        38,952 SH                 9,600   0     0
Kroger Company       COM             501044 10 1       811        36,740 SH                   600   0     0
Lee Enterprises      COM             523768 10 9       924        33,750 SH                 7,000   0     0
Longs Drug Stores    COM             543162 10 1       642        21,500 SH                 6,000   0     0
Lucent Technologies  COM             549463 10 7     2,830        43,623 SH                 8,835   0     0
M D C Holding        COM             552676 10 8       210        13,000 SH                     0   0     0
Masco Corp           COM             574599 10 6     3,871       124,858 SH                18,000   0     0
Mc Cormick & Co      COM NON VTG     579780 20 6     2,039        61,670 SH                13,600   0     0
McClatchy Newspapers CL  A           579489 10 5       499        13,950 SH                     0   0     0
MediaOne Group       COM             58440J 10 4     1,404        20,558 SH                   400   0     0
Merck                COM             589331 10 7     2,004        30,926 SH                11,340   0     0
Microsoft Corp.      COM             594918 10 4     1,710        18,885 SH                 3,500   0     0
Millipore            COM             601073 10 9       533        14,187 SH                 4,500   0     0
Minnesota Mining     COM             604059 10 5     1,222        12,720 SH                 4,000   0     0
Mobil Corp           COM             607059 10 2       220         2,180 SH                 1,380   0     0
Motorola             COM             620076 10 9     4,844        55,043 SH                12,600   0     0
New York Times Class CL  A           650111 10 7     2,088        55,675 SH                 2,000   0     0
Park Place EntertainmCOM             700690 10 0       132        10,550 SH                     0   0     0
Pepsico Inc          COM             713448 10 8     3,739       122,595 SH                24,700   0     0
Pfizer Inc           COM             717081 10 3     6,522       181,796 SH                35,400   0     0
Pharmacia & Upjohn   COM             716941 10 9       477         9,615 SH                     0   0     0
Philip Morris Cos    COM             718154 10 7       943        27,586 SH                   825   0     0
Procter & Gamble     COM             742718 10 9     2,789        29,752 SH                 5,800   0     0
Ralston Purina Group COM             751277 30 2     1,857        66,606 SH                15,216   0     0
Rite Aid Corporation COM             767754 10 4       997        72,150 SH                10,000   0     0
Royal Dutch PetroleumNY REG GLD1.25  780257 80 4       501         8,488 SH                     0   0     0
S B C Communications COM             78387G 10 3     1,315        25,759 SH                 1,200   0     0
Schering Plough Corp COM             806605 10 1       742        17,000 SH                     0   0     0
Schlumberger         COM             806857 10 8     2,250        36,110 SH                 4,800   0     0
Seagram Ltd          COM             811850 10 6       851        18,700 SH                     0   0     0
Servicemaster        COM             81760N 10 9       612        38,119 SH                     0   0     0
Snap On Tools        COM             833034 10 1     3,174        97,665 SH                36,317   0     0
Sonat Incorporated   COM             835415 10 0     1,184        29,830 SH                     0   0     0
Southwestern Energy CCOM             845467 10 9       177        19,475 SH                     0   0     0
Sun Microsystems Inc.COM             866810 10 4       846         9,100 SH                     0   0     0
Texaco               COM             881694 10 3       933        14,776 SH                 5,100   0     0
Time Warner IncorporaCOM             887315 10 9     3,171        52,203 SH                 8,700   0     0
Tribune Co           COM             896047 10 7     1,910        38,392 SH                 6,000   0     0
Tribune Phones       PFD CV 2%       896047 30 5     1,299        10,960 SH                 1,600   0     0
Twentieth Century IndCOM             901272 20 3       830        42,838 SH                     0   0     0
Tyco Intl. Ltd       COM             902124 10 6       290         2,807 SH                   426   0     0
U S T Inc            COM             902911 10 6     1,044        34,575 SH                   675   0     0
U S West             COM             91273H 10 1     1,923        33,705 SH                 4,510   0     0
Union Pacific Corp   COM             907818 10 8     1,095        22,777 SH                 3,200   0     0
Union Pacific ResourcCOM             907834 10 5       217        13,366 SH                     0   0     0
Unocal               COM             915289 10 2       492        13,283 SH                     0   0     0
USA Networks         COM             902984 10 3       529        13,650 SH                     0   0     0
USX-Marathon Group   COM             902905 82 7       415        14,190 SH                     0   0     0
Vodafone Airtouch ADRADR             92857T 10 7     5,889        24,770 SH                   550   0     0
Wal-Mart Stores Inc. COM             931142 10 3       528        11,100 SH                     0   0     0
Warner Lambert CompanCOM             934488 10 7     4,764        71,780 SH                18,300   0     0
Wells Fargo & CompanyCOM             949740 10 4     1,571        39,650 SH                     0   0     0

Alza Corp 5% 06      SUBDBCV         022615 AD 0     1,183       986,000 PRN                  100   0     0
Alza Corp 0% 14      SUB LYON        022615 AC 2       437       825,000 PRN                  350   0     0
Hilton Hotel 5% 06   SUB NT CONV     432848 AL 3     1,392     1,484,000 PRN                  300   0     0
Park Electrochem 5.5%SUBNT CV        700416 AB 6     1,565     1,635,000 PRN                  310   0     0
Phycor Inc 4.5% 03   SUB DB CV       71940F AB 6       440       620,000 PRN                  200   0     0
Seagram 0% 06        LYON CV         811845 AH 9       616       725,000 PRN                  380   0     0
</TABLE>







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