UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
Check here if Amendment [ X ]; Amendment Number: 1
This Amendment (Check only one.):[ X ]is a restatement.
[ ]adds new holdings entries.
Institutional Investment Manger Filing this Report:
Name: Beach Investment Counsel, Inc.
Address: 3 Radnor Corporate Center
Suite 410
Radnor, PA 19087
13F File Number: 28-7070
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: Patricia A. Hino
Title: Operations and Compliance Manager
Phone: 610-225-1100
Signature, Place, and Date of Signing:
Patricia A. Hino Radnor, PA August 10, 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.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Mangers: 0
Form 13F Information Table Entry Total: 72
Form 13F Information Table Value Total: 203,782,000
List of Other Included Managers:
None
<PAGE>
<TABLE> <C> <C>
FORM 13F INFORMATION TABLE
TITLE OF VALUE SHARES/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT DSCRETION MANAGERS NONE
- -------------------------------------------------------------------------------------------------------
ABBOTT LABS COM 002824100 1,543 34000 SOLE 34000
AC NEILSON COM 004833109 756 25000 SOLE 25000
AES CORP COM 00130H105 2,058 35400 SOLE 35400
ALLSTATE CORP COM 020002101 333 9270 SOLE 9270
AMEREN CORP COM 023608102 356 9270 SOLE 9270
AMERICAN GENERAL COM 026351106 995 13200 SOLE 13200
CORP
AMERICAN HOME COM 026609107 1,377 24000 SOLE 24000
PRODUCTS CORP
AMERICAN INTL GROUP COM 026874107 2,715 23154 SOLE 23154
AMERICAN NATIONAL COM 028591105 1,461 20500 SOLE 20500
INSURANCE CO. TEXAS
ANHEUSER BUSCH COS COM 035229103 1,135 16000 SOLE 16000
INC.
AUTOMATIC DATA COM 053015103 880 20000 SOLE 20000
PROCESS
BANK AMERICA COM 06605F102 7,442 101509 SOLE 101509
BERKSHIRE HATHAWAY COM 084670207 2 1 SOLE 1
CLASS B
BP AMOCO PLC SPNOS COM 055622104 1,005 9261 SOLE 9261
ADR
BRISTOL MYERS SQUIBB COM 110122108 8,766 124440 SOLE 124440
CHESAPEAKE UTILITIES COM 165303108 416 22434 SOLE 22434
CORP
CHEVRON CORPORATION COM 166751107 4,791 50400 SOLE 50400
CHARTER ONE FINANCIALCOM 160903100 4,770 171523 SOLE 171523
CILCORP INC COM 171794100 866 13850 SOLE 13850
CISCO SYSTEMS INC COM 17275R102 544 8438 SOLE 8438
CITIGROUP COM 172967101 2,073 43650 SOLE 43650
COCA COLA CO COM 191216100 4,529 73042 SOLE 73042
COLGATE PALMOLIVE COM 194162103 1,555 15787 SOLE 15787
COSTCO COMPANIES COM 22160Q102 2,458 30700 SOLE 30700
DANA CORP COM 235811106 719 15610 SOLE 15610
DILLARD INC CALSS A COM 254067101 313 8900 SOLE 8900
DU PONT EI DE COM 263534109 1,988 29100 SOLE 29100
NEMOURS
DUN & BRADSTREET COM 264830100 2,944 84500 SOLE 84500
CORP
EXXON CORP COM 302290101 578 7500 SOLE 7500
ESTE LAUDER COM 518439104 5,191 103554 SOLE 103554
FIRST UNION CORP COM 337358105 1,414 30000 SOLE 30000
FPL GROUP INC COM 302571104 3,146 57598 SOLE 57598
GANNETT INC COM 364730101 721 10100 SOLE 10100
GENERAL ELECTRIC CO COM 369604103 14,020 124069 SOLE 124069
GILLETTE CO COM 375766102 6,001 146368 SOLE 146368
HEALTH MANAGEMENT COM 421933102 1,653 146900 SOLE 146900
HEWLETT PACKARD CO COM 428236103 1,995 19850 SOLE 19850
IMS HEALTH INC COM 449934108 6,508 208250 SOLE 208250
INTEL CORP COM 458140100 476 8000 SOLE 8000
IPALCO ENTERPRISES COM 462613100 384 18108 SOLE 18108
INC
JOHNSON & JOHNSON COM 478160104 7,678 78341 SOLE 78341
LILLY ELI & CO COM 532457108 573 8000 SOLE 8000
LUCENT TECHNOLOGIES COM 549463107 399 5912 SOLE 5912
MARRIOTT INTL COM 571903202 6,892 184410 SOLE 184410
MERCK & CO INC COM 589331107 20,577 279480 SOLE 279480
MINNESOTA MNG & MFG COM 604059105 1,581 18180 SOLE 18180
CO
MOBIL CORP COM 607059102 8,018 81192 SOLE 81192
MONSANTO CO COM 611662107 791 20000 SOLE 20000
MONTANA POWER CO COM 612085100 571 8100 SOLE 8100
MORGAN JP & CO INC COM 616880100 1,822 12971 SOLE 12971
NIELSON MEDIA COM 653929307 1,185 40516 SOLE 40516
RESEARCH
PEPSICO INC COM 713448108 3,416 88300 SOLE 88300
PFIZER INC COM 717081103 3,968 36406 SOLE 36406
PIMCO ADVISORS COM 69338P102 14,100 473944 SOLE 473944
HOLDINGS
PNC BANK CORP COM 693475105 242 4200 SOLE 4200
PROCTER & GAMBLE CO COM 742718109 4,996 55976 SOLE 55976
PROVIDIAN COM 744061102 420 4500 SOLE 4500
RESOURCE AMERICA COM 761195205 508 35000 SOLE 35000
RELIANT ENERGY INC. COM 75952J108 448 16200 SOLE 1600
RH DONNELLY COM 74955W307 322 16470 SOLE 16470
SBC COMMUNICATIONS COM 78387G103 540 9316 SOLE 9316
SCHERING PLOUGH CORP COM 806605101 1,752 33372 SOLE 33372
SCHLUMBERGER LTD COM 806857108 4,670 73334 SOLE 73334
SERVICE MASTER COM 81760N109 1,922 102500 SOLE 102500
SUNTRUST BANKS INC COM 867914103 6,362 91625 SOLE 91625
TEXACO INC COM 881694103 1,957 31368 SOLE 31368
TEXAS UTILITIES CO COM 882848104 1,552 37464 SOLE 37464
UNITED TECHNOLOGIES COM 913017109 1,066 14800 SOLE 14800
CORP
XEROX CORP COM 984121103 2,073 35100 SOLE 35100
</TABLE>
