<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: June 30, 2000
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:_____The Adams Express Company____
Address: _7 St. Paul Street, Suite 1140
__________Baltimore, MD 21202__________
__________________________________________
Form 13F File Number: 28-597_________
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: ___Christine M. Griffith_
Title: __Assistant Treasurer___
Phone: __(401) 752-5900________
Signature, Place, and Date of Signing:
__(signed)_Christine M. Griffith Baltimore, Md. July 20, 2000
[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:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-____________ ________________________________
[Repeat as necessary.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: __________0____
Form 13F Information Table Entry Total: ____119______
Form 13F Information Table Value Total: $_2,225______
(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.]
No. Form 13F File Number Name
____ 28- NONE____________ ________________________
[Repeat as necessary.
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FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COL. 6 COLUMN 7 COLUMN 8
------------------------------- -------- -------- -------- ------------------ ------- -------- ----------------------
TITLE OF VALUE INVSTMT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) DSCRETN MANAGERS
<S> <C> <C> <C> <C> <C>
SHARES/ SH/ PUT/ VOTING AUTHORITY
PRIN.AMT PRN CALL
<C> <C> <C>
SOLE SHARE NONE
<C> D <C>
<C>
ABBOTT LABORATORIES COM 002824100 11,316 255,000 SH SOLE 255,000
ALZA CORPORATION COM 022615108 20,103 340,000 SH SOLE 340,000
AMBAC FINANCIAL GROUP, INC. COM 023139108 20,807 379,600 SH SOLE 379,600
AMERICAN HOME PRODUCTS CORP. COM 026609107 24,969 425,000 SH SOLE 425,000
AMERICAN INTEL. GROUP INC. COM 026874107 59,484 506,250 SH SOLE 506,250
AMERICAN TOWER CORP. 5% 2/2010 DEB 029912AE2 10,075 10,000,000 SH SOLE 10,000,000
ANNUITY AND LIFE RE (HOLDINGS), LTD. COM G03910109 17,150 700,000 SH SOLE 700,000
ASSOC. FIRST CAPITAL CORP. SER. A COM 046008108 12,200 546,800 SH SOLE 546,800
AVERY DENNISON CORP. COM 053611109 4,699 70,000 SH SOLE 70,000
AXENT TECHNOLOGIES INC. COM 05459C108 11,042 445,000 SH SOLE 445,000
AXENT TECHNOLOGIES INC. PUT 05459C958 620 25,000 PUT
BMC SOFTWARE INC. COM 055607105 10,945 300,000 SH SOLE 300,000
BMC SOFTWARE INC. PUT 055607955 365 10,000 PUT
BP AMOCO PLC SPN ADRS 055662104 15,272 270,000 ADR SOLE 270,000
BANK ONE CORP COM 06443A103 8,766 330,000 SH SOLE 330,000
BANKNORTH GROUP, INC. COM 06646L100 7,258 474,000 SH SOLE 474,000
BAXTER INTERNATIONAL COM 071813109 17,930 255,000 SH SOLE 255,000
BELLSOUTH CORP. COM 079860102 18,755 440,000 SH SOLE 440,000
BLACK & DECKER CORP. COM 091797100 11,794 300,000 SH SOLE 300,000
BLACK HILLS CORP. COM 092113109 12,522 555,000 SH SOLE 555,000
CABOT CORP. COM 127055101 2,044 75,000 SH SOLE 75,000
CALPINE CORP. COM 131347106 4,602 70,000 SH SOLE 70,000
CALPINE CORP. CALL 131347956 1,315 20,000 CALL
CALPINE CAP TRST 5.75% CV HIGH TIDES PFD 131346207 24,046 202,500 SH SOLE 202,500
CANADIAN NATIONAL RAILWAY. COM 136375102 1,751 60,000 SH SOLE 60,000
CANADIAN NATIONAL RAILWAY 5.25% PFD QUIDS 136375409 675 15,000 SH SOLE 15,000
CHIRON CORP. COM 170040109 26,125 550,000 SH SOLE 550,000
CINERGY CORP. COM 172474108 7,631 300,000 SH SOLE 300,000
CISCO SYSTEMS, INC. COM 17275R102 116,637 1,835,000 SH SOLE 1,835,000
CISCO SYSTEMS, INC. CALL 17275R902 1,907 30,000 CALL
COCA-COLA CO. COM 191216100 9,764 170,000 SH SOLE 170,000
CORNING, INC. COM 219350105 114,538 425,000 SH SOLE 425,000
CORNING, INC CALL 219350905 2,695 10,000 CALL
DEAN FOODS CO. COM 242361103 9,506 300,000 SH SOLE 300,000
DELPHI AUTOMOTIVE, INC. COM 247126105 10,048 690,000 SH SOLE 690,000
DELPHI AUTOMOTIVE INC. PUT 247126955 146 10,000 PUT
DOVER CORP. COM 260003108 10,546 260,000 SH SOLE 260,000
EDWARDS LIFESCIENCES COM 28176E108 944 51,000 SH SOLE 51,000
ELAN CORP. PLC ADRS 284131208 34,148 705,000 SH SOLE 705,000
ELAN CORP. PLC CALL 284131703 242 5,000 CALL
ENDESA, S.A. ADRS 29258N107 6,825 350,000 SH SOLE 350,000
ENGELHARD CORP. COM 292845104 6,740 395,000 SH SOLE 395,000
ENRON CORP. COM 293561106 32,250 500,000 SH SOLE 500,000
ERISSON (L.M.) TELEPHONE CO. COM 294821400 62,667 3,133,333 SH SOLE 3,133,333
EXXON MOBIL CORP. COM 30231G102 12,435 158,418 SH SOLE 158,418
FEDERAL HOME LOAN MORTGAGE CORP. COM 313400301 14,580 360,000 SH SOLE 360,000
FIRST DATA CORP. COM 319963104 17,070 343,980 SH SOLE 343,980
FORT JAMES CORP. COM 347471104 16,188 700,000 SH SOLE 700,000
GENERAL ELECTRIC CO. COM 369604103 101,760 1,920,000 SH SOLE 1,920,000
GLOBAL CROSSING LTD COM G3921A100 16,945 644,000 SH SOLE 644,000
GLOBAL CROSSING LTD 6.75% CONV DEB G3921A134 8,780 40,000 SH SOLE 40,000
GREENPOINT FINANCIAL CORP. COM 395384100 8,156 435,000 SH SOLE 435,000
HEWLETT-PACKARD CO. COM 428236103 24,900 200,000 SH SOLE 200,000
HONEYWELL INTL INC. COM 438516106 11,673 346,500 SH SOLE 346,500
HONEYWELL INTL INC. PUT 438516956 1,128 33,500 PUT
HOUSTON IND. INC. 7% CV DUE 7/1/2000 DECS 442161204 11,194 90,000 SH SOLE 90,000
INTEL CORP. COM 458140100 45,454 340,000 SH SOLE 340,000
INTEL CORP PUT 458140950 1,337 10,000 PUT
INTERSTATE BAKERIES CORP. COM 46072H108 1,932 138,000 SH SOLE 138,000
INVESTORS FINANCIAL SERV. CORP. COM 461915100 31,750 800,000 SH SOLE 800,000
IVEX PACKAGING CORP. COM 465855104 10,324 928,000 SH SOLE 928,000
JOHNSON & JOHNSON COM 478160104 18,337 180,000 SH SOLE 180,000
JOHNSON & JOHNSON PUT 478160954 3,056 30,000 PUT
LILLY (ELI) & CO. COM 532457108 28,855 290,000 SH SOLE 290,000
LUCENT TECHNOLOGIES INC. COM 549463107 30,153 508,920 SH SOLE 508,920
MCDONALDS CORP. COM 580135101 18,445 560,000 SH SOLE 560,000
MEAD CORP. COM 582834107 10,175 400,000 SH SOLE 400,000
MEDIAONE GROUP INC. COM 58440J104 9,965 150,000 SH SOLE 150,000
MEADIAONE GROUP, INC. 6.25% DUE 2001 PIES 58440J401 7,645 85,000 SH SOLE 85,000
MELLON BANK CORP. COM 585509102 15,304 420,000 SH SOLE 420,000
MERCK & CO., INC. COM 589331107 22,762 300,000 SH SOLE 300,000
MOTOROLA, INC. COM 620076109 14,113 485,622 SH SOLE 485,622
MOTOROLA, INC. CALL 620076909 872 30,000 CALL
MOTOROLA, INC. PUT 620076959 872 30,000 PUT
NATIONAL CITY CORP. COM 635405103 2,720 160,000 SH SOLE 160,000
NEXTEL COMMUNICATIONS, INC. COM 65332V103 63,635 1,040,000 SH SOLE 1,040,000
NEXTEL COMMUNICATIONS, INC. CALL 65332V903 1,836 30,000 CALL
NEXTEL COMM, INC. 5.25%DUE 1/15/2010 DEB 65332VAW3 10,425 10,000,000 SH SOLE 10,000,000
NOKIA CORP. PFD ADRS 654902204 91,885 1,840,000 SH SOLE 1,840,000
NOKIA CORP. PFD. ADR CALL 654902204 1,248 25,000 CALL SOLE
NORTEL NETWORKS LTD COM 656569100 103,182 1,490,000 SH SOLE 1,490,000
NORTHWESTERN CORP. COM 668074107 11,562 500,000 SH SOLE 500,000
ORACLE CORP COM 68389X105 49,597 590,000 SH SOLE 590,000
ORACLE CORP CALL 68389X955 2,101 25,000 CALL
PALL CORP. COM 696429307 11,100 600,000 SH SOLE 600,000
PEPSICO, INC. COM 713448108 13,109 295,000 SH SOLE 295,000
PETROLEUM & RESOURCES CORP. COM 716549100 44,471 1,210,085 SH SOLE 1,210,085
PHARMACIA & UPJOHN INC. COM 716941109 19,068 368,900 SH SOLE 368,900
PROVIDENT BANKSHARES CORP. COM 743859100 4,307 319,068 SH SOLE 319,068
QRS CORP. COM 74726X105 13,509 550,000 SH SOLE 550,000
QWEST COMMUNICATIONS INTL. INC. COM 749121109 37,763 760,000 SH SOLE 760,000
QWEST COMM. INTL INC 5.75% DUE 2003 TRENDS 74912L105 10,196 125,000 SH SOLE 125,000
RCN CORP COM 749361101 7,105 280,000 SH SOLE 280,000
RCN CORP PUT 749361951 254 10,000 PUT
RALSTON PURINA CO. 7% DUE 2000 COM 751227401 5,546 180,000 SH SOLE 180,000
RYDER SYSTEM INC. COM 783549108 8,427 445,000 SH SOLE 445,000
SBC COMMUNICATIONS INC. COM 78387G103 34,079 787,960 SH SOLE 787,960
SAPIENT CORP COM 803062108 61,489 575,000 SH SOLE 575,000
SAPIENT CORP CALL 803062908 1,069 10,000 CALL
SCHLUMBERGER, LTD COM 806857108 6,597 88,400 SH SOLE 88,400
SMITHKLINE BEECHAM PLC ADRS 832378301 16,949 260,000 SH SOLE 260,000
SOLECTRON CORP. COM 834182107 83,750 2,000,000 SH SOLE 2,000,000
SOLECTRON CORP. CALL 834182907 419 10,000 PUT
SUN MICROSYSTEMS INC. COM 4,547 50,000 SH SOLE 50,000
SUN MICROSYSTEMS INC. PUT 866810954 8,639 95,000 PUT
TECO ENERGY, INC COM 872375100 6,019 300,000 SH SOLE 300,000
TIFFANY & COMPANY COM 886547108 11,813 175,000 SH SOLE 175,000
TIFFANY & COMPANY CALL 886547908 675 10,000 CALL
TIME WARNER TELECOM COM 887319101 26,040 404,500 SH SOLE 404,500
UNITED WATER RESOURCES, INC. COM 913190104 20,925 600,000 SH SOLE 600,000
VERTEX PHARM 5% CV DUE 3/2007 DEB 92532FAA8 14,300 10,000,000 SH SOLE 10,000,000
VODAFONE AIRTOUCH PLC ADRS 92857T107 12,003 287,500 SH SOLE 287,500
WACHOVIA CORP. COM 929771103 10,308 190,000 SH SOLE 190,000
WELLS FARGO & CO. COM 949746101 21,313 550,000 SH SOLE 550,000
WILLIAMS COMMUNICATIONS GROUP INC. COM 969455104 16,385 493,700 SH SOLE 493,700
WILLIAMS COMPANIES, INC. COM 969457100 20,844 500,000 SH SOLE 500,000
WILLIAMS COMPANIES, INC. PUT 969457950 263 6,300 PUT
WILMINGTON TRUST CORP. COM 971807102 8,978 210,000 SH SOLE 210,000
WORLDCOM INC. COM 98157D106 25,231 550,000 SH SOLE 550,000
2,194,646
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