IRS NUMBER: 22-3010247
STATE OF INCORPORATION: New Jersey
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13G
BUSINESS ADDRESS:
STREET 1: 50 DIVISION STREET
STREET 2: SUITE 401
CITY: SOMERVILLE
STATE: NJ
ZIP: 08876
BUSINESS PHONE: 9082187900
FORMER COMPANY:
FORMER CONFORMED NAME: HARDING, LOEVNER, MC NALLY, L.P.
DATE OF NAME CHANGE: 101393
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)
ALLIED CAPITAL CORP.
(Name of Issuer)
Common Stock
(Title of class of Securities)
019033109
(Cusip Number)
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Persons.
Harding, Loevner management, L.P.- 22-3010247
2) Check the Appropriate Box if a Member of a Group
(a) _____
(b) _XX_
3) SEC Use only.
4) Citizenship of Place of Organization. State of New Jersey
Number of Shares Beneficially Owned by Each Reporting Person With
5) Sole Voting Power 455,318
6) Shared Voting Power 11,428
7) Sole Dispositive Power 466,746
8) Share Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting
Person: 466,746
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11) Percent of Class Represented by Amount in Row 9. 5.94%
12) Type of Reporting Person. IA
<PAGE>
SCHEDULE 13G
Item 1 (a). Name of Issuer: Allied Capital Corp.
Item 1 (b) Address of Issuer's Principal Executive Offices:
1666 K Street NW, 9th Floor, Washington DC 20006
Item 2 (a). Name of Person Filing: Harding, Loevner Management, L.P.
("Investment Adviser")
Item 2 (b) Address of Principal Business Office, or if None, Residence:
50 Division Street, Suite 401 Somerville, New Jersey 08876
Item 2 (c) Citizenship: New Jersey
Item 2 (d) Title of Class of Securities: Common Stock
Item 2 (e) CUSIP No.: 019033109
Item 3 If this statement is filed pursuant to Rules 13d-1 (b), check
whether the person filing is a:
(e) [xx] Investment Adviser registered under section 203 of
Investment Advisers Act of 1940
Item 4 Ownership: Investment Advisor, representing numerous
discretionary accounts, beneficially owns 466,746 shares of
common stock representing 5.94% of the total outstanding
shares of 7,863,503. Sole and shared voting and sole
dispositive power.
Item 5 Ownership of Five Percent (5%) or Less of a Class. [ N/A]
Item 6 Ownership of more than Five Percent (5%) on behalf of
another Person [N/A]
Item 7 Identification and classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company [N/A]
Item 8 Identification and Classification of member of the Group. [N/A]
Item 9 Notice of Dissolution of Group. [N/A]
Item 10 Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of
and do not have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purpose or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Date: February 4, 1998
Signature: /s/ David R. Loevner
David R. Loevner, President
Harding, Loevner Management, L.P.
Harding, Loevner Management, L.P.
SECURITY CROSS-REFERENCE
December 26, 1997
<TABLE>
<S> <C> <C> <C> <C> <C>
Security: ALLC (Allied Capital)
Price: $20.875
Portfolio/Code Name Quantity Total Cost Market Value Unrealized Gain/Loss
1000-2 HLF Multi Asset Global 5013 80883 104646 23764
10000-1 American Museum of Natural 45000 780811 939375 158564
History
1020-2 Betsy Goodman Abell 1984 9714 151161 202780 51619
Grantor-Trust Global
1020-9 G. Hughes Abell and Betsy 9000 154965 187875 32910
Goodman Abell
12012-1 Harbor Branch Oceanographic 11428 173421 238559 65138
Institution, Inc.
1310-1 Marujupu Investments Ltd. 32000 491512 668000 176488
1521-1 University of Oregon 15828 239935 330409 90474
Foundation
1610-1 William Paley 10000 169515 208750 39235
16500-3 The Norman Porter Living 2857 36730 59640 22910
trust Dated 4/29/96
1810-1 Randolph Foundation-Managed 11428 146221 238559 92338
18500-1 Robert F. Rothschild 2285 34799 47699 12901
1900-3 Lucille E. Stephens, IRA 2285 29960 47699 17739
Rollover
1900-4 Woodford C. Stephens, IRA 2285 29960 47699 17739
Rollover
2000-2 TIFF Muti-Asset Fund (HLM 60000 1052154 1252500 200346
Global)
2121-1 Bata Retirement Plan for 16329 237847 340868 103021
International Employees
2121-2 Breezy Sea Limited 2542 39166 53064 13898
30000-1 The Chemical Heritage 34000 550587 709750 159162
Foundation, Inc.
5311-1 Ernest Christian Klipstein 4428 72112 92434 20323
Foundation
5311-2 David H. Klipstein Article 7 13000 221579 271375 49796
Trust
6800-14 Brady Foundation 5714 73627 119280 45653
6800-2 u/w/o G.B. Fowler f/b/o A/ 2285 36630 47699 11069
Fowler (A) Trust
6800-28 Jason A. Gregg Ch. Rem. 3428 56327 71559 15232
Unitrust
6800-29 Simon N. Gregg Ch. Rem. 3428 56327 71559 15232
Unitrust
6800-35 James C. Brady Keogh Plan 1571 26064 32795 6731
6800-39 Jennifer Johnson 1944 Trust 51428 890882 1073559 182677
Equity Section
6800-5 Elizabeth F. Houghton, Grantor 2285 36630 47699 11069
7600-1 HLF Global Equity Portfolio 100285 1734254 2093449 359196
8000-3 Robert Randolph Richardson C 4000 58153 83500 25346
Trust
80000-1 Harding, Loevner Global 2900 52132 60537 8405
Equity Fund (Bermuda), Ltd.
466746 7714344 9743323 2028979
</TABLE>
