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 [ ]; Amendment Number:
This Amendment (Check only one.); [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Hardesty Capital Management Corp.
Address: 2 East Read Street
Baltimore, MD 21202
13F File Number: 28-6742
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: James D. Hardesty
Title: President
Phone: 410-783-9633
Signature, Place, and Date of Signing:
/s/ James D. Hardesty Baltimore, MD May 11, 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: 82
Form 13F Information Table Value Total: $174,879
List of Other Included Managers:
No. 13F File Number Name
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Hardesty Capital Management
FORM 13F
March 31, 1999
Voting Authority
--------------------------
Value Shares/ Sh/ Put/ Invstmt
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
------------------------------ ---------------- --------- -------- ------- --- ---- ------- ---------- -------- -------- --------
<S> <C> <C> <C>
D 3COM CORP COM COM 885535104 75132210.0000 SH Sole 32210.0000
D ABBOTT LABS COM COM 002824100 47810208.0000 SH Sole 10208.0000
D AMERICAN HOME PRODS CP COM COM 026609107 7060108199.0000 SH Sole 108199.0000
D AMERICAN INTL GROUP COM COM 026874107 2001659.0000 SH Sole 1659.0000
D AMERITECH CORP NEW COM COM 030954101 396768849.0000 SH Sole 68849.0000
D ANDREW CORP COM COM 034425108 68055250.0000 SH Sole 55250.0000
D AT&T CORP COM COM 001957109 100412575.4330 SH Sole 12575.4330
D ATLANTIC RICHFIELD CO COM COM 048825103 302441360.0000 SH Sole 41360.0000
D BALTIMORE GAS & ELEC COM COM 059165100 55021665.0000 SH Sole 21665.0000
D BELL ATLANTIC CORP COM COM 077853109 277653701.5390 SH Sole 53701.5390
D BELLSOUTH CORP COM COM 079860102 383295646.0000 SH Sole 95646.0000
D BIOMATRIX INC COM COM 09060P102 4035168.0000 SH Sole 5168.0000
D BP AMOCO P L C SPONSORED ADR COM 055622104 370736706.5005 SH Sole 36706.5005
D BRISTOL MYERS SQUIBB COM COM 110122108 562087645.0000 SH Sole 87645.0000
D CATERPILLAR INC DEL COM COM 149123101 330471915.6170 SH Sole 71915.6170
D CHEVRON CORPORATION COM COM 166751107 376742440.8890 SH Sole 42440.8890
D CHUBB CORP COM COM 171232101 399868260.5410 SH Sole 68260.5410
D CISCO SYS INC COM COM 17275R102 3433128.0000 SH Sole 3128.0000
D COCA COLA CO COM COM 191216100 186230334.0000 SH Sole 30334.0000
D COLGATE PALMOLIVE CO COM COM 194162103 2482694.0000 SH Sole 2694.0000
D CORNING INC COM COM 219350105 341156850.0000 SH Sole 56850.0000
D DANA CORP COM COM 235811106 304880202.0000 SH Sole 80202.0000
D DELL COMPUTER CORP COM COM 247025109 167741035.0000 SH Sole 41035.0000
D DU PONT E I DE NEMOURS COM COM 263534109 526590686.0000 SH Sole 90686.0000
D ENRON CORPORATION OREGON COM COM 293561106 311548490.0000 SH Sole 48490.0000
D EXXON CORP COM COM 302290101 694998476.5030 SH Sole 98476.5030
D FIRST UN CORP COM COM 337358105 6645124352.0000 SH Sole 124352.0000
D GENERAL ELEC CO COM COM 369604103 1031093198.1820 SH Sole 93198.1820
D GENERAL MTRS CORP COM COM 370442105 172819864.0000 SH Sole 19864.0000
D GTE CORP COM COM 362320103 2253725.0000 SH Sole 3725.0000
D HALLIBURTON CO COM COM 406216101 4135107408.5930 SH Sole 107408.5930
D HELIX TECHNOLOGY CORP COM COM 423319102 72947410.0000 SH Sole 47410.0000
D HEWLETT PACKARD CO COM COM 428236103 369854535.3350 SH Sole 54535.3350
D HILFIGER TOMMY CORP ORD COM G8915Z102 279740605.0000 SH Sole 40605.0000
D HOME DEPOT INC COM COM 437076102 3215151.0000 SH Sole 5151.0000
D HSB GROUP INC COM COM 40428N109 290878337.0000 SH Sole 78337.0000
D INGERSOLL RAND CO COM COM 456866102 205241356.0000 SH Sole 41356.0000
D INTEL CORP COM COM 458140100 126410635.0000 SH Sole 10635.0000
D INTERNATIONAL BUS MACH COM COM 459200101 881049703.0000 SH Sole 49703.0000
D IXC COMMUNICATIONS INC COM COM 450713102 2836179.0000 SH Sole 6179.0000
D JOHNSON & JOHNSON COM COM 478160104 183719644.0000 SH Sole 19644.0000
D KIMBERLY CLARK CORP COM COM 494368103 2164496.0000 SH Sole 4496.0000
D LILLY ELI & CO COM COM 532457108 2062424.0000 SH Sole 2424.0000
D LOCKHEED MARTIN CORP COM COM 539830109 262569547.0000 SH Sole 69547.0000
D LUCENT TECHNOLOGIES COM COM 549463107 7807222.3170 SH Sole 7222.3170
D MAY DEPT STORES CO COM COM 577778103 250464006.5000 SH Sole 64006.5000
D MCDONALDS CORP COM COM 580135101 150733260.0000 SH Sole 33260.0000
D MERCANTILE BANKSHARES COM COM 587405101 363798304.0890 SH Sole 98304.0890
D MERCK & CO INC COM COM 589331107 606175643.1680 SH Sole 75643.1680
D MERRY-GO ROUND ENTERPRISES COM 590436101 010000.0000 SH Sole 10000.0000
D MICROSOFT CORP COM COM 594918104 132814821.0000 SH Sole 14821.0000
D MINNESOTA MNG & MFG CO COM COM 604059105 3294650.0000 SH Sole 4650.0000
D MOBIL CORP COM COM 607059102 3884412.0000 SH Sole 4412.0000
D MOTOROLA INC COM COM 620076109 431558907.7980 SH Sole 58907.7980
D MURPHY OIL CORP COM COM 626717102 146435275.0000 SH Sole 35275.0000
1
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Hardesty Capital Management
FORM 13F
March 31, 1999
Voting Authority
--------------------------
Value Shares/ Sh/ Put/ Invstmt
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
------------------------------ ---------------- --------- -------- ------- --- ---- ------- ---------- -------- -------- --------
D NORFOLK SOUTHERN CORP COM COM 655844108 253095939.0000 SH Sole 95939.0000
D PEOPLESOFT INC COM COM 712713106 98267130.0000 SH Sole 67130.0000
D PEPSICO INC COM COM 713448108 44911456.1460 SH Sole 11456.1460
D PFIZER INC COM COM 717081103 11438239.0000 SH Sole 8239.0000
D PHILIP MORRIS COS INC COM COM 718154107 3543100694.2340 SH Sole 100694.2340
D POLAROID CORP COM COM 731095105 28414085.7190 SH Sole 14085.7190
D PROCTER & GAMBLE CO COM COM 742718109 522653359.0000 SH Sole 53359.0000
D REGIONS FINL CORP COM COM 758940100 2336719.0000 SH Sole 6719.0000
D SCHERING PLOUGH CORP COM COM 806605101 66211980.0000 SH Sole 11980.0000
D SINCLAIR BROADCAST GRP CL A COM 829226109 1668114525.0000 SH Sole 114525.0000
D SPDR TR UNIT SER 1 COM 78462F103 7085517.0000 SH Sole 5517.0000
D ST PAUL COS INC COM COM 792860108 166653631.0000 SH Sole 53631.0000
D STAPLES INC COM COM 855030102 50115227.0000 SH Sole 15227.0000
D STRIDE RITE CORP COM 863314100 2371193560.0000 SH Sole 193560.0000
D SUNTRUST BKS INC COM COM 867914103 2884620.0000 SH Sole 4620.0000
D SUPERGEN INC COM COM 868059106 58857400.0000 SH Sole 57400.0000
D TEXACO INC COM COM 881694103 4287550.0000 SH Sole 7550.0000
D TIMKEN CO COM COM 887389104 127678550.0000 SH Sole 78550.0000
D TOWN & CTRY TR SH BEN INT COM 892081100 15310150.0000 SH Sole 10150.0000
D V F CORP COM COM 918204108 214845225.0000 SH Sole 45225.0000
D WAL MART STORES INC COM COM 931142103 5225666.0000 SH Sole 5666.0000
D WASHINGTON R EST IN TR SH BEN COM 939653101 18711443.0000 SH Sole 11443.0000
D WISCONSIN ENERGY CORP COM COM 976657106 139253425.0000 SH Sole 53425.0000
D AMERICAN MUT FD INC COM FNDS 027681105 237 8052.625 SH Sole 8052.625
D FLAG INVESTORS INTER TR INCOME FNDS 33833H106 29228096.805 SH Sole 28096.805
D FLAG INVESTORS TELEPHONE INCOM FNDS 338331101 85721465.029 SH Sole 21465.029
D WASHINGTON MUT INVS FD COM FNDS 939330106 40212247.424 SH Sole 12247.424
S REPORT SUMMARY 82 DATA RECORDS 174879 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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