<PAGE>
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: CornerCap Investment Counsel, Inc.
Address: The Peachtree, Suite 1700
1355 Peachtree Street, N.E.
Atlanta, Georgia 30309
Form 13F File Number: 28- 7208
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: Thomas E. Quinn
Title: President
Phone: (404) 870-0100
Signature, Place, and Date of Signing:
/s/ Thomas E. Quinn Atlanta, Georgia May 12, 1999
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this
reporting manager are reported in this report).
[ ] 13F NOTICE. (Check here if no holdings reported are in this
report, and all holdings are reported by other reporting
manager(s)).
[ ] 13F COMBINATION REPORT. (Check here if a portion of the
holdings for this reporting manager are reported in this report
and a portion are reported by other reporting manager(s)).
List of Other Managers Reporting for this Manager:
NONE
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: None
Form 13F Information Table Entry Total: 206
Form 13F Information Table Value Total: $ 9,328,143
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file
number(s) of all institutional investment managers with respect to
which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the
column headings and list entries.]
NONE
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<PAGE>
FORM 13F INFORMATION TABLE
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<CAPTION>
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ----------------------------------------------------------------------------------------------------------------------------------
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE SHRS OR PRN SH/ PUT/ INVESTMENT OTHER MANAGERS VOTING AUTHORITY
(x$1000) AMT PRN CALL DISCRETION SOLE SHARED NONE
- ---------------------------- ------------- --------- ------- ----------- --------- ---------- -------------- -----------------
<S> <S> <C> <C> <C> <S> <S> <C> <C>
Deucalion Research Inc. COM 251468104 115,000 0.00 SH 0.00
Ezcony Interamerica COM G3287M102 17,100 1,068.75 SH 1,068.75
ACME Metals COM 004724100 61,700 15,425.00 SH 15,425.00
Soligen Tech Inc Ec Com COM 83423G109 114,000 21,375.00 SH 21,375.00
WPI Group Inc COM 92930K107 11,200 38,500.00 SH 38,500.00
Dexterity Surgical Inc COM 252368105 26,000 42,250.00 SH 42,250.00
Innerdyne Inc COM 45764D102 26,000 50,375.00 SH 50,375.00
U S Home & Garden COM 902939107 12,400 55,800.00 SH 55,800.00
Cade Inds Inc COM 127382109 25,400 56,356.25 SH 56,356.25
Total Research COM 891511107 23,000 56,781.25 SH 56,781.25
Abaxis Inc COM 002567105 29,800 57,737.50 SH 57,737.50
Gentner Commun COM 37245J105 22,600 70,625.00 SH 70,625.00
Agribiotech Inc Nev COM 008494106 12,000 75,000.00 SH 75,000.00
Burlington Industries COM 121693105 18,700 123,887.50 SH 123,887.50
OMI Corp. COM Y6476W104 70,725 141,450.00 SH 141,450.00
Justin Inds., Inc. COM 482171105 14,800 162,800.00 SH 162,800.00
Allied Products Corp. COM 019411107 59,037 177,111.00 SH 177,111.00
Cyprus Amax Minerals COM 232809103 16,400 198,850.00 SH 198,850.00
Sears Roebuck Accep Corp PREF 812404002 8,000 200,500.00 SH 200,500.00
BNY Cap Tr III 7.05% pfd PREF 05563W206 8,000 201,000.00 SH 201,000.00
03/02
Duke Energy CAP I Pfd Tr PREF 264396201 8,000 201,500.00 SH 201,500.00
Scs 7
PSCO Capital Tr I 7.6% PREF 69360R208 8,000 201,500.00 SH 201,500.00
TOPRS 6
MSDW Capital Trust I 7.1% PREF 553538208 8,000 202,000.00 SH 202,000.00
2/28
Dixie Group Inc CL A COM 255519100 28,550 203,418.75 SH 203,418.75
Potomac Elec Pwr Co Tr I PREF 73767N208 8,000 205,000.00 SH 205,000.00
7.375
TCF Financial COM 872275102 7,890 205,633.12 SH 205,633.12
Home Depot COM 437076102 3,337 207,728.25 SH 207,728.25
Coca Cola Co. COM 191216100 3,677 225,675.87 SH 225,675.87
Reebok International Ltd COM 758110100 14,300 227,012.50 SH 227,012.50
Johnson & Johnson COM 478160104 2,525 236,087.50 SH 236,087.50
MCI Worldcom Inc. COM 55268B106 2,716 240,535.75 SH 240,535.75
Duke Energy Corp COM 264399106 4,450 243,915.62 SH 243,915.62
Laser Vision Ctrs Inc COM 51807H100 6,400 244,000.00 SH 244,000.00
Raychem Corp COM 754603108 11,650 262,853.12 SH 262,853.12
AT&T COM 001957109 3,502 279,503.37 SH 279,503.37
Fruit of the Loom COM g3682l105 26,350 283,262.50 SH 283,262.50
Carpenter Technology COM 144285103 11,225 291,148.44 SH 291,148.44
GTE Corp. COM 362320103 4,850 293,425.00 SH 293,425.00
Intel Corp. COM 458140100 2,500 297,187.50 SH 297,187.50
Ashland Inc. COM 044204105 7,600 311,125.00 SH 311,125.00
Building Materials COM 120113105 31,100 314,887.50 SH 314,887.50
Reynolds Metals COM 761763101 6,850 330,940.62 SH 330,940.62
Ohio Casualty COM 677240103 8,850 345,150.00 SH 345,150.00
Hartmarx Corp. COM 417119104 72,175 351,853.12 SH 351,853.12
Tenet Healthcare Corp COM 88033G100 19,000 359,812.50 SH 359,812.50
General Electric COM 369604103 3,256 360,195.00 SH 360,195.00
Amer. Bankers Ins. COM 024456105 7,194 374,088.00 SH 374,088.00
Wolohan Lumber COM 977865104 30,550 389,512.50 SH 389,512.50
Butler Mfg Co COM 123655102 16,750 392,578.12 SH 392,578.12
Microsoft Corp. COM 594918104 4,400 394,350.00 SH 394,350.00
AMBAC, Inc. COM 023139108 7,350 396,900.00 SH 396,900.00
ABT Building Products COM 000782102 26,650 399,750.00 SH 399,750.00
Corp.
BB&T Corp COM 054937107 11,118 402,332.62 SH 402,332.62
Culp Inc. COM 230215105 77,650 451,340.62 SH 451,340.62
BEC Energy COM 05538m101 12,300 452,025.00 SH 452,025.00
Glatfelter Co., P.H. COM 377316104 40,600 454,212.50 SH 454,212.50
Enesco Group Inc COM 292973104 25,325 457,432.81 SH 457,432.81
Steel Tech. Inc. COM 858147101 58,950 464,231.25 SH 464,231.25
ABM Inds Inc COM 000957100 15,250 465,125.00 SH 465,125.00
Unifirst Corp Mass COM 904708104 22,150 467,918.75 SH 467,918.75
Moog Inc CL A COM 615394202 15,400 469,700.00 SH 469,700.00
Clarcor Inc COM 179895107 27,725 473,057.81 SH 473,057.81
Lamson & Sessions Co. COM 513696104 100,700 497,206.25 SH 497,206.25
K Mart Corp. COM 482584109 30,250 508,578.12 SH 508,578.12
First Union COM 337358105 9,574 511,610.62 SH 511,610.62
Sprint Corp PCS Ser 1 COM 852061506 11,856 525,369.00 SH 525,369.00
SAFECO Corp. COM 786429100 13,051 527,749.81 SH 527,749.81
Simpson Inds. Inc. COM 829060102 56,050 539,481.25 SH 539,481.25
CCB Financial Corp. COM 124875105 9,996 540,408.75 SH 540,408.75
Blair Corp. COM 092828102 35,200 554,400.00 SH 554,400.00
Kaman Corp. Cl. A COM 483548103 43,564 558,163.75 SH 558,163.75
EI Dupont COM 263534109 9,620 558,561.25 SH 558,561.25
Springs Industries COM 851783100 21,037 569,313.81 SH 569,313.81
Applied Power Inc. COM 038225108 20,938 570,560.50 SH 570,560.50
Exxon COM 302290101 8,307 586,162.69 SH 586,162.69
Oakwood Homes COM 674098108 42,150 590,100.00 SH 590,100.00
Superior Industries Intl. COM 868168105 25,950 603,337.50 SH 603,337.50
Oneida Ltd. COM 682505102 35,850 609,450.00 SH 609,450.00
Bowne & Co. COM 103043105 53,900 629,956.25 SH 629,956.25
Compaq Computer Corp. COM 204493100 19,989 633,401.44 SH 633,401.44
Pulte Corp. COM 745867101 30,650 637,903.12 SH 637,903.12
MTS Sys Corp COM 553777103 63,850 646,481.25 SH 646,481.25
Scotsman Inds. COM 809340102 38,425 660,429.69 SH 660,429.69
Quanex corp COM 747620102 44,250 685,875.00 SH 685,875.00
Commercial Metals COM 201723103 34,475 689,500.00 SH 689,500.00
Fluor Corp COM 343861100 25,850 697,950.00 SH 697,950.00
Arrow Intl Inc COM 042764100 32,925 709,945.31 SH 709,945.31
Nine West Group Inc. COM 65440D102 29,125 719,023.44 SH 719,023.44
Lafarge Corp. COM 505862102 25,958 726,824.00 SH 726,824.00
Edwards, AG Inc COM 281760108 22,319 729,552.31 SH 729,552.31
National Service COM 637657107 21,750 740,859.37 SH 740,859.37
Industries, I
Carlisle Cos Inc COM 142339100 15,900 743,325.00 SH 743,325.00
Webb (Del) Corp COM 947423109 34,450 747,134.37 SH 747,134.37
Universal Corporation COM 913456109 29,925 764,957.81 SH 764,957.81
Quaker Chem Corp COM 747316107 54,775 773,696.87 SH 773,696.87
Abitibi-Consolidated Inc COM 003924107 87,850 774,178.12 SH 774,178.12
Dain Rauscher Corp COM 233856103 22,775 774,350.00 SH 774,350.00
Alexander & Baldwin COM 014482103 39,800 781,075.00 SH 781,075.00
Deluxe Corp. COM 248019101 27,400 798,025.00 SH 798,025.00
Timken Co. COM 887389104 49,175 799,093.75 SH 799,093.75
Standard Prods Co COM 853836104 49,613 806,211.25 SH 806,211.25
Toro Co. COM 891092108 25,700 806,337.50 SH 806,337.50
Parker Drilling Co COM 701081101 226,400 806,550.00 SH 806,550.00
Loews Corporation COM 540424108 10,825 807,815.62 SH 807,815.62
Rockwell International COM 773903109 19,225 815,860.94 SH 815,860.94
McCormick & Co Inc COM 579780206 28,700 832,300.00 SH 832,300.00
Orion Capital COM 686268103 26,930 841,562.50 SH 841,562.50
Champion Enterprises COM 158496109 44,350 859,281.25 SH 859,281.25
Pfizer, Inc. COM 717081103 6,300 874,125.00 SH 874,125.00
Merck & Company COM 589331107 10,962 878,330.25 SH 878,330.25
Chubb Corp. COM 171232101 15,419 902,975.19 SH 902,975.19
Piccadilly Cafeterias COM 719567109 85,925 912,953.12 SH 912,953.12
Canandaiqua Wine Inc CL A COM 137219200 18,150 914,306.25 SH 914,306.25
Countrywide Credit COM 222372104 24,403 915,102.41 SH 915,102.41
Anchor Gaming COM 033037102 21,000 918,750.00 SH 918,750.00
International Aluminum COM 458884103 36,950 919,131.25 SH 919,131.25
Morgan, JP & Co. COM 616880100 7,506 926,052.75 SH 926,052.75
TRW Inc COM 872649108 20,450 930,475.00 SH 930,475.00
Gleason Corp COM 377339106 56,467 956,409.81 SH 956,409.81
Kulicke & Soffa Indus COM 501242101 38,050 960,762.50 SH 960,762.50
Gtech Holdings Corp COM 400518106 39,550 964,031.25 SH 964,031.25
Bank of New York COM 064057102 26,833 964,310.94 SH 964,310.94
International Paper COM 460146103 23,167 977,357.81 SH 977,357.81
Furon Co. COM 361106107 78,200 987,275.00 SH 987,275.00
Ryerson Tull Inc COM 78375P107 67,350 989,203.12 SH 989,203.12
Haverty Furniture Inc COM 419596101 40,350 1,023,881.25 SH 1,023,881.25
MagneTek Inc COM 559424106 124,925 1,046,246.87 SH 1,046,246.87
Ralcorp Holdings COM 751028101 55,100 1,046,900.00 SH 1,046,900.00
Health Mgmt Sys Inc COM 42219M100 224,500 1,066,375.00 SH 1,066,375.00
Roberts Pharmaceutical COM 770491108 53,100 1,101,825.00 SH 1,101,825.00
Ensco Intl Inc COM 26874Q100 83,350 1,109,596.87 SH 1,109,596.87
Lincoln National Corp. COM 534187109 11,380 1,125,197.50 SH 1,125,197.50
Harman Intl Inds COM 413086109 30,775 1,130,981.25 SH 1,130,981.25
Norsk Hydro AS Sponsored COM 656531605 28,100 1,134,537.50 SH 1,134,537.50
ADR
IBP, Inc. COM 449223106 61,700 1,149,162.50 SH 1,149,162.50
Hasbro, Inc. COM 418056107 39,825 1,152,435.94 SH 1,152,435.94
TBC Corp COM 872180104 191,425 1,160,514.06 SH 1,160,514.06
UST, Inc. COM 902911106 45,450 1,187,381.25 SH 1,187,381.25
Comerica Inc. COM 200340107 19,090 1,191,931.87 SH 1,191,931.87
Key Corp. COM 493267108 39,564 1,199,283.75 SH 1,199,283.75
GenCorp COM 368682100 66,900 1,204,200.00 SH 1,204,200.00
Northwest Airlines Corp COM 667280101 43,700 1,215,406.25 SH 1,215,406.25
CL A
Phelps Dodge Corp. COM 717265102 24,940 1,228,295.00 SH 1,228,295.00
Huffy Corp. COM 444356109 111,150 1,333,800.00 SH 1,333,800.00
Manitowoc Inc. COM 563571108 31,872 1,334,640.00 SH 1,334,640.00
Newport Corp COM 651824104 109,700 1,357,537.50 SH 1,357,537.50
BancTec, Inc. COM 059784108 110,650 1,362,378.13 SH 1,362,378.13
Boeing Co. COM 097023105 40,275 1,369,350.00 SH 1,369,350.00
True North Comm COM 897844106 49,200 1,377,600.00 SH 1,377,600.00
Union Carbide Corp. COM 905581104 30,725 1,388,385.94 SH 1,388,385.94
DTE Energy Co. COM 233331107 36,200 1,391,437.50 SH 1,391,437.50
Arvin Ind. COM 043339100 41,325 1,392,135.94 SH 1,392,135.94
Flowserve Corp. COM 34354P105 89,575 1,394,010.94 SH 1,394,010.94
Repsol S A Sponsored ADR COM 76026T205 27,750 1,422,187.50 SH 1,422,187.50
Kellwood Co. COM 488044108 66,075 1,457,779.69 SH 1,457,779.69
King World Productions COM 495667107 47,700 1,457,831.25 SH 1,457,831.25
HealthSouth Corp. COM 421924101 142,225 1,475,584.37 SH 1,475,584.37
Cordant Tech Inc COM 218412104 37,100 1,477,043.75 SH 1,477,043.75
Goodrich BF Co COM 382388106 43,375 1,488,304.69 SH 1,488,304.69
Morgan Stanley Dean COM 617446448 15,757 1,574,715.19 SH 1,574,715.19
Witter Dis
Washington Fed Inc COM 938824109 75,218 1,579,567.50 SH 1,579,567.50
Vulcan Material Company COM 929160109 38,350 1,584,334.37 SH 1,584,334.37
Harland John H. Co. COM 412693103 122,650 1,586,784.37 SH 1,586,784.37
Reliant Energy COM 75952j108 60,970 1,589,030.62 SH 1,589,030.62
Amcast Industrial COM 023395106 99,100 1,597,987.50 SH 1,597,987.50
British Awys PLC ADR COM 110419306 24,650 1,691,606.25 SH 1,691,606.25
Standex International COM 854231107 77,708 1,699,862.50 SH 1,699,862.50
Corp.
Equitable Co. COM 29444G107 25,275 1,769,250.00 SH 1,769,250.00
Toll Brothers Inc. COM 889478103 100,950 1,829,718.75 SH 1,829,718.75
Crane Co. COM 224399105 77,734 1,880,191.12 SH 1,880,191.12
USX-U.S. Steel Group COM 90337T101 80,875 1,900,562.50 SH 1,900,562.50
Bausch & Lomb Inc COM 071707103 29,700 1,930,500.00 SH 1,930,500.00
Eaton Corp. COM 278058102 27,275 1,950,162.50 SH 1,950,162.50
Alcan Aluminium COM 013716105 76,450 1,973,365.62 SH 1,973,365.62
NPC Intl COM 629360306 131,250 2,050,781.25 SH 2,050,781.25
Nortek Inc COM 656559101 82,925 2,052,393.75 SH 2,052,393.75
F M C Corp. COM 302491303 41,575 2,052,765.62 SH 2,052,765.62
Paccar Inc. COM 693718108 51,240 2,110,447.50 SH 2,110,447.50
Telefonos de Mexico COM 879403780 32,108 2,119,128.00 SH 2,119,128.00
Varlen Corp. COM 922248109 99,143 2,181,135.00 SH 2,181,135.00
ITT Industries Inc. COM 450911102 62,410 2,207,753.75 SH 2,207,753.75
ICN Pharmaceutical COM 448924100 88,275 2,217,909.37 SH 2,217,909.37
VF Corp. COM 918204108 48,250 2,291,875.00 SH 2,291,875.00
PPG Industries Inc. COM 693506107 45,970 2,355,962.50 SH 2,355,962.50
Bear Stearns COM 073902108 52,877 2,362,940.94 SH 2,362,940.94
LSI Logic Corp COM 502161102 76,600 2,388,962.50 SH 2,388,962.50
Mallinckrodt Inc New COM 561232109 90,700 2,414,887.50 SH 2,414,887.50
Fedders Corp. COM 313135105 478,825 2,424,051.56 SH 2,424,051.56
Philip Morris COM 718154107 70,057 2,465,135.68 SH 2,465,135.68
Ametek COM 031100100 135,375 2,470,593.75 SH 2,470,593.75
FirstEnergy Corp COM 337932107 89,820 2,514,960.00 SH 2,514,960.00
Ball Corp COM 058498106 56,850 2,668,396.87 SH 2,668,396.87
Koninklijke Philips COM 500472105 34,250 2,823,484.37 SH 2,823,484.37
Electronic Maytag Corp. COM 578592107 49,750 3,003,656.25 SH 3,003,656.25
SLM Holding Corp COM 78442A109 72,324 3,019,527.00 SH 3,019,527.00
Polaris Inds Inc COM 731068102 95,575 3,034,506.25 SH 3,034,506.25
Merrill Lynch & Co. COM 590188108 34,990 3,096,615.00 SH 3,096,615.00
Caterpillar Inc COM 149123101 69,525 3,193,804.69 SH 3,193,804.69
Anheuser-Busch Cos. COM 035229103 42,724 3,252,364.50 SH 3,252,364.50
Briggs & Stratton Corp COM 109043109 66,175 3,263,254.69 SH 3,263,254.69
General Motors COM 370442105 37,994 3,305,478.00 SH 3,305,478.00
Sprint Corp FON Group COM 852061100 34,149 3,350,870.62 SH 3,350,870.62
Johnson Controls Inc COM 478366107 56,625 3,531,984.37 SH 3,531,984.37
IBM COM 459200101 22,204 3,935,659.00 SH 3,935,659.00
Ford Motor Co. COM 345370100 70,080 3,972,660.00 SH 3,972,660.00
Southdown, Inc. COM 841297104 81,784 4,390,778.50 SH 4,390,778.50
REPORT SUMMARY 206 DATA RECORDS 9,328,143 0 OTHER MANAGERS ON WHOSE
BEHALF REPORT IS FILED
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