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. _1_)
ALLIED CAPITAL CORPORATION
(Name of Issuer)
Common Stock
(Title of class of Securities)
01903Q108
(Cusip Number)
1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Persons. 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 556,622
6) Shared Voting Power 13,455
7) Sole Dispositive Power 570,077
8) Share Dispositive Power 0
9) Aggregate Amount Beneficially Owned by Each Reporting Person: 570,077
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11) Percent of Class Represented by Amount in Row 9. 1.1%
12) Type of Reporting Person. Investment Advisor (IA)
<PAGE>
SCHEDULE 13G
Item 1 (a). Name of Issuer: Allied Capital Corporation.
Item 1 (b) Address of Issuer's Principal Executive Offices:
Item 2 (a). Name of Person Filing: Harding, Loevner Management, L.P.
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.: 01903Q108
Item 3 If this statement is filed pursuant to Rules 13d-1 (b), or
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 570,077 shares of common stock
representing 1.1% of the total outstanding shares of 52,047,318.
Sole voting and 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 [N/A]
Item 7 Identification and classification of the Subsidiary Which 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 10, 1998
/s/ David R. Loevner
David R. Loevner, President
Harding, Loevner Management, L.P.
Harding, Loevner Management, L.P.
SECURITY CROSS-REFERENCE
January 2, 1998
Security: ALLC (Allied Capital)
Price: $21.250
<TABLE>
<S> <C> <C> <C> <C> <C>
Portfolio/Code Name Quantity Total Cost Market Value Unrealized Gain/Loss
1000-2 HLF Multi Asset Global 5902 80874 125417 44543
10000-1 American Museum of Natural 52985 780808 1125931 345123
History
1020-2 Betsy Goodman Abell 1984 11437 151149 243036 91887
Grantor-Trust Global
1020-9 G. Hughes Abell and Betsy 10597 154964 225186 70222
Goodman Abell
12012-1 Harbor Branch Oceanographic 13455 173410 285919 112509
Institution, Inc.
1310-1 Marujupu Investments Ltd. 46678 652381 991907 339527
1521-1 University of Oregon 18636 239925 396015 156090
Foundation
1610-1 William Paley 14434 212133 306722 94590
16500-3 The Norman Porter Living 3526 38588 74927 36340
trust Dated 4/29/96
1810-1 Randolph Foundation-Managed 13455 146211 285919 139707
18500-1 Robert F. Rothschild 2690 34792 57162 22370
1900-3 Lucille E. Stephens, IRA 2690 29955 57162 27207
Rollover
1900-4 Woodford C. Stephens, IRA 2690 29955 57162 27207
Rollover
2000-2 TIFF Muti-Asset Fund (HLM 70646 1052139 1501227 449088
Global)
2121-1 Bata Retirement Plan for 23286 302968 494827 191860
International Employees
2121-2 Breezy Sea Limited 2993 39165 63601 24436
30000-1 The Chemical Heritage 40033 550584 850701 300117
Foundation, Inc.
5311-1 Ernest Christian Klipstein 5213 72100 110776 38676
Foundation
5311-2 David H. Klipstein Article 7 15306 221565 325252 103688
Trust
6800-14 Brady Foundation 6727 73616 142949 69332
6800-2 u/w/o G.B. Fowler f/b/o A/ 2690 36624 57162 20539
Fowler (A) Trust
6800-28 Jason A. Gregg Ch. Rem. 4231 58533 89909 31376
Unitrust
6800-29 Simon N. Gregg Ch. Rem. 4231 58533 89909 31376
Unitrust
6800-35 James C. Brady Keogh Plan 1849 26052 39291 13239
6800-39 Jennifer Johnson 1944 Trust 60553 890869 1286751 395882
Equity Section
6800-5 Elizabeth F. Houghton, Grantor 2820 38097 59925 21828
7600-1 HLF Global Equity Portfolio 118080 1734247 2509200 774953
8000-3 Robert Randolph Richardson C 4709 58141 100066 41925
Trust
80000-1 Harding, Loevner Global 3414 52122 72547 20425
Equity Fund (Bermuda), Ltd.
19300-1 Scotia McLeod-Pinnacle 4121 78559 87571 9012
Program-Global Equity
Fund
570077 8069060 12114136 4045076
</TABLE>
