<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: September 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. Sloan____
Title: __Assistant Treasurer___
Phone: __(401) 752-5900________
Signature, Place, and Date of Signing:
__(signed)_Christine M. Sloan Baltimore, Md. November 6, 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.]
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: __________0____
Form 13F Information Table Entry Total: ____112______
Form 13F Information Table Value Total: $_2,193______
(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 - OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) INVSTM MANAGERS
<S> <C> <C> <C> T <C>
DSCRET
N
<C>
SHARES/ SH/P PUT/ VOTING AUTHORITY
PRIN.AMT RN CALL
<C> <C> <C>
SOLE SHARE NONE
<C> D <C>
<C>
ABBOTT LABORATORIES COM 002824100 12,128 255,000 SH SOLE 255,000
ALZA CORPORATION COM 022615108 20,760 240,000 SH SOLE 240,000
AMBAC FINANCIAL GROUP, INC. COM 023139108 27,805 379,600 SH SOLE 379,600
AMERICAN HOME PRODUCTS CORP. COM 026609107 16,969 300,000 SH SOLE 300,000
AMERICAN INT'L. GROUP INC. COM 026874107 72,663 759,375 SH SOLE 759,375
AMERICAN TOWER CORP 5% CV DEB 029912AE2 9,625 10,000,000 PRIN SOLE 10,000,000
ANNUITY AND LIFE RE (HOLDINGS), LTD. COM G03910109 16,888 700,000 SH SOLE 700,000
ASSOC. FIRST CAPITAL CORP. SER. A COM 046008108 20,778 546,800 SH SOLE 546,800
AXENT TECHNOLOGIES INC. COM 05459C108 9,595 445,000 SH SOLE 445,000
BMC SOFTWARE INC. COM 055607105 5,929 310,000 SH SOLE 310,000
BP AMOCO PLC SPN ADRS 055662104 14,310 270,000 ADR SOLE 270,000
BANK ONE CORP COM 06443A103 12,746 330,000 SH SOLE 330,000
BANKNORTH GROUP, INC. COM 06646L100 8,473 474,000 SH SOLE 474,000
BAXTER INTERNATIONAL COM 071813109 20,352 255,000 SH SOLE 255,000
BELLSOUTH CORP. COM 079860102 17,710 440,000 SH SOLE 440,000
BLACK & DECKER CORP. COM 091797100 10,256 300,000 SH SOLE 300,000
BLACK HILLS CORP. COM 092113109 15,575 555,000 SH SOLE 555,000
CABOT CORP. COM 127055101 14,893 470,000 SH SOLE 450,000
CALPINE CORP. COM 131347106 5,219 50,000 SH SOLE 50,000
CALPINE CAPITAL TRUST PFD 131346207 37,133 202,500 SH SOLE 202,500
CANADIAN NATIONAL RAILWAY. COM 136375102 1,759 60,000 SH SOLE 60,000
CANADIAN NATIONAL RAILWAY 5.25% PFD QUIDS 136375409 669 15,000 SH SOLE 15,000
CHIRON CORP. COM 170040109 24,750 550,000 SH SOLE 550,000
CINERGY CORP. COM 172474108 9,918 300,000 SH SOLE 300,000
CISCO SYSTEMS, INC. COM 17275R102 101,384 1,835,000 SH SOLE 1,835,000
CISCO SYSTEMS, INC. CALL 17275R902 553 10,000 CALL
COCA-COLA CO. COM 191216100 9,371 170,000 SH SOLE 170,000
COCA-COLA CO. PUT 191216950 551 10,000 PUT
CORNING, INC. COM 219350105 115,830 390,000 SH SOLE 390,000
CORNING, INC CALL 219350905 4,455 15,000 CALL
DEAN FOODS CO. COM 242361103 9,975 300,000 SH SOLE 300,000
DELPHI AUTOMOTIVE, INC. COM 247126105 10,436 690,000 SH SOLE 690,000
DIAMOND TECHNOLOGY COM 252762109 3,564 48,000 SH SOLE 48,000
DOVER CORP. COM 260003108 12,204 260,000 SH SOLE 260,000
DUKE ENERGY CORP COM 264399106 22,466 262,000 SH SOLE 262,000
DUKE ENERGY CORP. PUT 264399956 5,145 60,000 PUT
ELAN CORP. PLC ADRS 284131208 30,112 550,000 SH SOLE 550,000
ENDESA, S.A. ADRS 29258N107 3,187 170,000 SH SOLE 170,000
ENGELHARD CORP. COM 292845104 8,613 530,000 SH SOLE 530,000
ENRON CORP. COM 293561106 43,813 500,000 SH SOLE 500,000
ERICSSON (L.M.) TELEPHONE CO. COM 294821400 46,412 3,133,333 SH SOLE 3,133,333
ERICSSON (L.M.) TELEPHONE CO. CALL 294821900 296 20,000 CALL
EXXON MOBIL CORP. COM 30231G102 14,119 158,418 SH SOLE 158,418
FEDERAL HOME LOAN MORTGAGE CORP. COM 313400301 18,652 345,000 SH SOLE 345,000
FIRST DATA CORP. COM 319963104 13,437 343,980 SH SOLE 343,980
FORT JAMES CORP. COM 347471104 13,631 446,000 SH SOLE 446,000
GENERAL ELECTRIC CO. COM 369604103 109,606 1,900,000 SH SOLE 1,900,000
GLOBAL CROSSING LTD COM G3921A100 19,964 644,000 SH SOLE 644,000
GLOBAL CROSSING LTD 6.75% CONV DEB G3921A134 10,015 40,000 SH SOLE 40,000
GREENPOINT FINANCIAL CORP. COM 395384100 12,887 435,000 SH SOLE 435,000
HEWLETT-PACKARD CO. COM 428236103 19,400 200,000 SH SOLE 200,000
HONEYWELL INT'L INC. COM 438516106 12,825 360,500 SH SOLE 360,000
INTEL CORP. COM 458140100 28,262 680,000 SH SOLE 680,000
INTEL CORP PUT 458140950 416 10,000 PUT
INTERSTATE BAKERIES CORP. COM 46072H108 2,018 138,000 SH SOLE 138,000
INVESTORS FINANCIAL SERV. CORP. COM 461915100 44,188 700,000 SH SOLE 700,000
IVEX PACKAGING CORP. COM 465855104 9,106 928,000 SH SOLE 928,000
JOHNSON & JOHNSON COM 478160104 16,909 180,000 SH SOLE 180,000
LILLY (ELI) & CO. COM 532457108 17,036 210,000 SH SOLE 210,000
LILLY (ELI) & CO. CALL 532457908 4,462 55,000 CALL
LUCENT TECHNOLOGIES INC. COM 549463107 15,554 508,920 SH SOLE 508,920
MCDONALD'S CORP. COM 580135101 16,905 560,000 SH SOLE 560,000
MEAD CORP. COM 582834107 9,350 400,000 SH SOLE 400,000
MEADIAONE GROUP, INC. 6.25% DUE 2001 PIES 58440J401 7,082 85,000 SH SOLE 85,000
MELLON BANK CORP. COM 585509102 19,477 420,000 SH SOLE 420,000
MERCK & CO., INC. COM 589331107 18,609 250,000 SH SOLE 250,000
MINNESOTA MINING & MFG COM 604059105 24,148 265,000 SH SOLE 265,000
MINNESOTA MINING & MFG PUT 604059955 4,566 50,000 PUT
MOTOROLA, INC. COM 620076109 13,719 485,622 SH SOLE 485,622
MOTOROLA, INC. PUT 620076959 283 10,000 PUT
NATIONAL CITY CORP. COM 635405103 3,540 160,000 SH SOLE 160,000
NEXTEL COMMUNICATIONS, INC. COM 65332V103 48,620 1,040,000 SH SOLE 1,040,000
NEXTEL COMM, INC. 5.25%DUE 1/15/2010 DEB 65332VAW3 9,338 10,000,000 PRIN SOLE 10,000,000
NOKIA CORP. PFD ADRS 654902204 73,255 1,840,000 SH SOLE 1,840,000
NOKIA CORP. PFD. ADR CALL 654902204 1,592 40,000 CALL SOLE
NORTEL NETWORKS LTD COM 656569100 88,748 1,490,000 SH SOLE 1,490,000
NORTEL NETWORKS LTD CALL 656568902 2,978 50,000 CALL
NORTHWESTERN CORP. COM 668074107 9,750 500,000 SH SOLE 500,000
ORACLE CORP COM 68389X105 46,463 590,000 SH SOLE 590,000
ORACLE CORP CALL 68389X955 2,362 30,000 CALL
PALL CORP. COM 696429307 11,963 600,000 SH SOLE 600,000
PEPSICO, INC. COM 713448108 13,570 295,000 SH SOLE 295,000
PETROLEUM & RESOURCES CORP. COM 716549100 50,899 1,210,085 SH SOLE 1,210,085
PHARMACIA & UPJOHN INC. COM 71713U102 22,203 368,900 SH SOLE 368,900
PROVIDENT BANKSHARES CORP. COM 743859100 5,344 319,068 SH SOLE 319,068
QRS CORP. COM 74726X105 8,811 585,000 SH SOLE 585,000
QWEST COMMUNICATIONS INT'L. INC. COM 749121109 36,528 760,000 SH SOLE 760,000
QWEST COMM. INTL INC 5.75% DUE 2003 TRENDS 74912L105 9,688 125,000 SH SOLE 125,000
RCN CORP COM 749361101 5,810 280,000 SH SOLE 280,000
RYDER SYSTEM INC. COM 783549108 8,204 445,000 SH SOLE 445,000
SBC COMMUNICATIONS INC. COM 78387G103 39,398 787,960 SH SOLE 787,960
SAPIENT CORP COM 803062108 46,791 1,150,000 SH SOLE 1,150,000
SAPIENT CORP CALL 803062908 1,627 40,000 CALL
SCHLUMBERGER, LTD COM 806857108 7,276 88,400 SH SOLE 88,400
SMITHKLINE BEECHAM PLC ADRS 832378301 15,097 220,000 SH SOLE 220,000
SOLECTRON CORP. COM 834182107 92,250 2,000,000 SH SOLE 2,000,000
SUN MICROSYSTEMS INC. COM 866810104 12,259 105,000 SH SOLE 105,000
SUN MICROSYSTEMS INC. PUT 866810954 5,254 45,000 PUT
TECO ENERGY, INC COM 872375100 8,625 300,000 SH SOLE 300,000
TIFFANY & COMPANY COM 886547108 13,497 350,000 SH SOLE 350,000
TIFFANY & COMPANY CALL 886547908 386 10,000 CALL
TIME WARNER INC. COM 887315109 11,640 148,752 SH SOLE 148,752
TIME WARNER TELECOM COM 887319101 19,542 404,500 SH SOLE 404,500
VERTEX PHARM 5% CV DUE 3/2007 DEB 92532FAA8 21,700 10,000,000 PRIN SOLE 10,000,000
VODAFONE AIRTOUCH PLC ADRS 92857T107 10,638 287,500 SH SOLE 287,500
WACHOVIA CORP. COM 929771103 10,771 190,000 SH SOLE 190,000
WELLS FARGO & CO. COM 949746101 25,266 550,000 SH SOLE 550,000
WILLIAMS COMMUNICATIONS GROUP INC. COM 969455104 9,874 493,700 SH SOLE 493,700
WILLIAMS COMPANIES, INC. COM 969457100 21,125 500,000 SH SOLE 500,000
WILLIAMS COMPANIES, INC. PUT 969457950 266 6,300 PUT
WILMINGTON TRUST CORP. COM 971807102 11,261 210,000 SH SOLE 210,000
WORLDCOM INC. COM 98157D106 16,706 550,000 SH SOLE 550,000
2,192,813
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