<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 0000002230
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE ADAMS EXPRESS COMPANY
001 B000000 811-2624
001 C000000 4107525900
002 A000000 SEVEN ST. PAUL ST., SUITE 1140
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
019 B000000 0
020 A000001 S.W. RYAN & CO., INC.
020 B000001 23-2509528
020 C000001 86
020 A000002 CS FIRST BOSTON CORP.
020 B000002 13-5659485
020 C000002 60
020 A000003 AUTRANET, INC.
020 B000003 13-2961507
020 C000003 55
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 50
020 A000005 COWEN & CO.
020 B000005 13-5616116
020 C000005 38
020 A000006 S & P SECURITIES, INC.
020 B000006 13-3145333
020 C000006 36
<PAGE> PAGE 2
020 A000007 KEEFE BRUYETTE & WOODS, INC.
020 B000007 13-1964616
020 C000007 34
020 A000008 GORDON HASKETT (INDATA)
020 B000008 06-1095324
020 C000008 20
020 A000009 SMITH BARNEY, INC.
020 B000009 13-1912900
020 C000009 14
020 A000010 MORGAN STANLEY & CO., INC.
020 B000010 13-2655998
020 C000010 12
021 000000 452
022 A000001 GENERAL ELECTRIC CAPITAL CORP.
022 B000001 13-1500700
022 C000001 124824
022 D000001 0
022 A000002 FORD MOTOR CREDIT CORP.
022 B000002 38-1612444
022 C000002 42272
022 D000002 0
022 A000003 BANK OF NEW YORK
022 B000003 13-4941102
022 C000003 39487
022 D000003 0
022 A000004 CHEVRON OIL FINANCE CORP.
022 B000004 23-1215010
022 C000004 38456
022 D000004 0
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000005 13-5674085
022 C000005 22746
022 D000005 0
022 A000006 TEXACO, INC.
022 B000006 74-1383447
022 C000006 6995
022 D000006 0
022 A000007 MORGAN STANLEY & CO., INC.
022 B000007 13-2655998
022 C000007 6828
022 D000007 104
022 A000008 SMITH BARNEY, INC.
022 B000008 13-1912900
022 C000008 0
022 D000008 5225
022 A000009 DONALDSON LUFKIN JENRETTE INC.
022 B000009 13-2741729
022 C000009 4006
022 D000009 0
022 A000010 CS FIRST BOSTON CORP.
022 B000010 13-5659485
<PAGE> PAGE 3
022 C000010 0
022 D000010 3151
023 C000000 287578
023 D000000 11542
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
<PAGE> PAGE 4
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
<PAGE> PAGE 5
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 E000000 Y
071 A000000 149391
071 B000000 161049
071 C000000 1500602
071 D000000 10
072 A000000 6
072 B000000 2646
072 C000000 9858
072 D000000 0
072 E000000 0
072 F000000 0
072 G000000 0
072 H000000 1449
072 I000000 86
072 J000000 52
072 K000000 36
072 L000000 52
072 M000000 98
072 N000000 21
072 O000000 70
072 P000000 0
072 Q000000 0
072 R000000 19
072 S000000 23
072 T000000 0
072 U000000 0
072 V000000 43
072 W000000 328
072 X000000 2278
072 Y000000 0
072 Z000000 10226
072AA000000 55644
072BB000000 0
072CC010000 113761
072CC020000 0
072DD010000 9490
072DD020000 0
072EE000000 2497
073 A010000 0.1900
073 A020000 0.0000
073 B000000 0.0500
073 C000000 0.0000
074 A000000 196
074 B000000 0
074 C000000 36217
074 D000000 61944
074 E000000 27851
<PAGE> PAGE 6
074 F000000 1461694
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 5253
074 K000000 0
074 L000000 1683
074 M000000 4088
074 N000000 1598926
074 O000000 2208
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 1640
074 R040000 3265
074 S000000 0
074 T000000 1591813
074 U010000 49949
074 U020000 0
074 V010000 31.87
074 V020000 0.00
074 W000000 0.0000
074 X000000 20434
074 Y000000 47280
075 A000000 0
075 B000000 1535748
076 000000 26.88
077 A000000 Y
077 Q010000 Y
080 C000000 0
081 B000000 0
082 B000000 0
083 B000000 0
084 B000000 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE
TITLE
THE ADAMS EXPRESS
RESOLUTION ADOPTED AT A MEETING OF THE
BOARD OF DIRECTORS
JULY 9, 1998
At a meeting of the Board of Directors, a proposal was made to amend
the Company's By-laws to adopt a provision requiring advance notice from
shareholders of any proposals submitted for consideration at an annual or
special meeting of the Company. After discussion and on motion duly made,
seconded and unanimously adopted, it was - - -
RESOLVED, that Article Two of the Company's By-laws is hereby amended
to adopt a new Section 2.11 to be added thereto, as follows:
SECTION 2.11. Advance Notice of Stockholder Nominees for Director and
Other Stockholder Proposals.
The matters to be considered and brought before any annual or special
meeting of stockholders of the Corporation shall be limited to only
such matters, including the nomination and election of directors, as
shall be brought properly before such meeting in compliance with the
procedures set forth in this Section 2.11.
For any matter to be properly before any annual meeting of
stockholders, the matter must be (i) specified in the notice of annual
meeting given by or at the direction of the Board of Directors, (ii)
otherwise brought before the annual meeting by or at the direction of
the Board of Directors, or (iii) brought before the annual meeting in
the manner specified in this Section 2.11 (b) by a stockholder of
record or a stockholder (a "Nominee Holder") that holds voting
securities entitled to vote at meetings of stockholders through a
nominee or "street name" holder of record and can demonstrate to the
Corporation such indirect ownership and such Nominee Holder's
entitlement to vote such securities. In addition to any other
requirements under applicable law and the Articles of Incorporation and
By-Laws of the Corporation, persons nominated by stockholders for
election as directors of the Corporation and any other proposals by
stockholders shall be properly brought before the meeting only if
notice of any such matter to be presented by a stockholder at such
meeting of stockholders (the "Stockholder Notice") shall be delivered
to the Secretary of the Corporation at the principal executive office
of the Corporation not less than 60 nor more than 90 days prior to the
first anniversary date of the annual meeting for the preceding year;
provided, however, if and only if the annual meeting is not scheduled
to be held within a period that commences 30 days before such
anniversary date and ends 30 days after such anniversary date (an
annual meeting date outside such period being referred to herein as an
"Other Annual Meeting Date"), such Stockholder Notice shall be given in
the manner provided herein by the later of the close of business on (i)
the date 60 days prior to such Other Meeting Date or (ii) two weeks
following the date such Other Annual Meeting Date is first publicly
announced or disclosed. Any stockholder desiring to nominate any person
or persons (as the case may be) for election as a director or directors
of the Corporation shall deliver, as part of such Stockholder Notice:
(i) a statement in writing setting forth (A) the name of the person or
persons to be nominated, (B) the number and class of all shares of each
class of stock of the Corporation owned of record and beneficially by
each such person, as reported to such stockholder by such nominee(s),
(C) the information regarding each such person required by paragraph
(b) of Item 22 of Rule 14a-101 under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), adopted by the Securities and
Exchange Commission (or the corresponding provisions of any regulation
or rule subsequently adopted by the Securities and Exchange Commission
applicable to the Corporation), (D) whether such stockholder believes
any nominee will be an "interested person" of the Corporation (as
defined in the Investment Company Act of 1940, as amended) and, if not
an "interested person", such information regarding each nominee that
will be sufficient for the Corporation to make such determination, and
(E) the number and class of all shares of each class of stock of the
Corporation owned of record and beneficially by such stockholder; (ii)
each such person's signed consent to serve as a director of the
Corporation if elected; (iii) such stockholder's name and address; and,
(iv) in the case of a Nominee Holder, evidence establishing such
Nominee Holder's indirect ownership of, and entitlement to vote,
securities at the meeting of stockholders. Any stockholder who gives a
Stockholder Notice of any matter proposed to be brought before the
meeting (not involving nominees for director) shall deliver, as part of
such Stockholder Notice, the text of the proposal to be presented; a
brief written statement of the reasons why such stockholder favors the
proposal; such stockholder's name and address; the number and class of
all shares of each class of stock of the Corporation owned of record
and beneficially by such stockholder; if applicable, any material
interest of such stockholder in the matter proposed (other than as a
stockholder); and, in the case of a Nominee Holder, evidence
establishing such Nominee Holder's indirect ownership of, and
entitlement to vote, securities at the meeting of stockholders. As used
herein, shares "beneficially owned" shall mean all shares that such
person is deemed to beneficially own pursuant to Rules 13d-3 and 13d-5
under the Exchange Act.
Notwithstanding anything in this Section 2.11(b) to the contrary, in
the event that the number of directors to be elected to the Board of
Directors of the Corporation is increased and either all of the
nominees for director or the size of the increased Board of Directors
are not publicly announced or disclosed by the Corporation at least 70
days prior to the first anniversary of the preceding year's annual
meeting, a Stockholder Notice shall also be considered timely
hereunder, but only with respect to nominees for any new positions
created by such increase, if it shall be delivered to the Secretary of
the Corporation at the principal executive office of the Corporation
not later than the close of business two weeks following the first date
all of such nominees or the size of the increased Board of Directors
shall have been publicly announced or disclosed.
Only such matters shall be properly brought before a special meeting of
stockholders as shall have been brought before the meeting pursuant to
the Corporation's notice of meeting. In the event the Corporation calls
a special meeting of stockholders for the purpose of electing one or
more directors to the Board of Directors, any stockholder may nominate
a person or persons (as the case may be), for election to such
position(s) as specified in the Corporation's notice of meeting, if the
Stockholder Notice required by Section 2.11 (b) hereof shall be
delivered to the Secretary of the Corporation at the principal
executive office of the Corporation not later than the close of
business two weeks following the day on which the date of the special
meeting and of the nominees proposed by the Board of Directors to be
elected at such meeting is publicly announced or disclosed.
For purposes of this Section 2.11, a matter shall be deemed to have
been "publicly announced or disclosed" if such matter is disclosed in a
press release reported by the Dow Jones News Service, Associated Press
or comparable national news service or in a document publicly filed by
the Corporation with the Securities and Exchange Commission.
In no event shall the adjournment of an annual meeting, or any
announcement thereof, commence a new period for the giving of notice as
provided in this Section 2.11. This Section 2.11 shall not apply to
stockholder proposals made pursuant to Rule 14a-8 under the Exchange
Act.
(f) The person presiding at any meeting of stockholders, in addition to
making any other determinations that may be appropriate to the conduct
of the meeting, shall have the power and duty to determine whether
notice of nominees and other matters proposed to be brought before a
meeting has been duly given in the manner provided in this Section 2.11
and, if not so given, shall direct and declare at the meeting that such
nominees and other matters shall not be considered.
* * * * * * * * * * * * *
I, Lawrence L. Hooper, Jr., the duly elected Secretary and General
Counsel of The Adams Express Company, a Maryland corporation, hereby certify the
foregoing to be a true copy of the resolutions adopted at a meeting of the Board
of Directors of the Company on July 9, 1998, at which meeting a quorum was
present and voted on the resolutions. I further certify that said resolutions
continue in full force and effect.
ATTEST: /s/ Lawrence L. Hooper, Jr.
_______________________________
Secretary and General Counsel
Baltimore, Maryland
July 9, 1998
