000 A000000 06/30/99
000 C000000 0000040417
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 GENERAL AMERICAN INVESTORS COMPANY, INC.
001 B000000 811-41
001 C000000 2129168400
002 A000000 450 LEXINGTON AVENUE - SUITE 3300
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
002 D020000 3911
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 GOLDMAN SACHS & COMPANY
020 B000001 13-5108880
020 C000001 33
020 A000002 BERNSTEIN (SANFORD C.) & CO., INC.
020 B000002 13-2625874
020 C000002 31
020 A000003 MORGAN STANLEY & CO. INCORPORATED
020 B000003 13-2655998
020 C000003 18
020 A000004 FOX-PITT, KELTON INCORPORATED
020 B000004 06-1058201
020 C000004 16
020 A000005 PAINEWEBBER INCORPORATED
020 B000005 13-2638166
020 C000005 13
020 A000006 BANC OF AMERICA SECURITIES
020 B000006 94-1701676
020 C000006 13
020 A000007 KEEFE, BRUYETTE AND WOODS, INC.
020 B000007 13-1964616
020 C000007 11
020 A000008 HAMBRECHT & QUIST LLC
020 B000008 94-3220242
020 C000008 11
020 A000009 JEFFERIES & COMPANY, INC.
020 B000009 95-2622900
020 C000009 9
020 A000010 CONNING & COMPANY
020 B000010 06-1174588
020 C000010 9
021 000000 207
022 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000001 13-5674085
022 C000001 9024
022 D000001 3088
022 A000002 SOUNDVIEW TECHNOLOGY GROUP INC.
022 B000002 13-2998183
022 C000002 4600
022 D000002 7506
022 A000003 GOLDMAN SACHS & COMPANY
022 B000003 13-5108880
022 C000003 5844
022 D000003 3935
022 A000004 MORGAN STANLEY & CO. INCORPORATED
022 B000004 13-2655998
022 C000004 9193
022 D000004 0
022 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000005 13-2741729
022 C000005 5
022 D000005 6790
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006 1530
022 D000006 5261
022 A000007 HAMBRECHT & QUIST LLC
022 B000007 94-3220242
022 C000007 4537
022 D000007 769
022 A000008 SG COWEN SECURITIES CORPORATION
022 B000008 13-5616116
022 C000008 2534
022 D000008 1068
022 A000009 BT ALEX. BROWN, INC.
022 B000009 52-1319768
022 C000009 3215
022 D000009 0
022 A000010 BANC OF AMERICA SECURITIES
022 B000010 94-1701676
022 C000010 2608
022 D000010 0
023 C000000 49240
023 D000000 30989
062 A000000 Y
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 23.0
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 1.5
062 Q000000 0.0
062 R000000 0.0
063 A000000 106
063 B000000 0.0
064 A000000 N
064 B000000 N
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
071 A000000 128184
071 B000000 120898
071 C000000 763675
071 D000000 16
072 A000000 6
072 B000000 6675
072 C000000 3478
072 D000000 0
072 E000000 0
072 F000000 0
072 G000000 0
072 H000000 2198
072 I000000 69
072 J000000 14
072 K000000 5
072 L000000 44
072 M000000 85
072 N000000 43
072 O000000 42
072 P000000 0
072 Q000000 0
072 R000000 45
072 S000000 12
072 T000000 0
072 U000000 0
072 V000000 42
072 W000000 1086
072 X000000 3685
072 Y000000 0
072 Z000000 6468
072AA000000 61655
072BB000000 0
072CC010000 14759
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 33671
073 A010000 0.0000
073 A020000 0.0000
073 B000000 1.3600
073 C000000 0.0000
074 A000000 114
074 B000000 0
074 C000000 246470
074 D000000 15894
074 E000000 0
074 F000000 805622
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1344
074 K000000 0
074 L000000 2484
074 M000000 4855
074 N000000 1076783
074 O000000 1767
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 5378
074 S000000 150000
074 T000000 919638
074 U010000 25154
074 U020000 0
074 V010000 36.56
074 V020000 0.00
074 W000000 0.0000
074 X000000 5560
074 Y000000 0
075 A000000 0
075 B000000 871355
076 000000 32.75
077 A000000 N
086 A010000 0
086 A020000 0
086 B010000 501
086 B020000 15856
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK, $1 PAR VALUE
087 A020000 368802104
087 A030000 GAM
087 B010000 7.2% TAX-ADVNTGD CUM PRFD STOCK, $1 PAR VALUE
087 B020000 368802302
087 B030000 GAMPR
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 Y
SIGNATURE EUGENE L. DESTAEBLER, JR.
TITLE V.P., ADMINISTRATION
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<MULTIPLIER> 1000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-1-1999
<PERIOD-END> JUN-30-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 607366
<INVESTMENTS-AT-VALUE> 1067986
<RECEIVABLES> 1344
<ASSETS-OTHER> 7453
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1076783
<PAYABLE-FOR-SECURITIES> 1767
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5378
<TOTAL-LIABILITIES> 7145
<SENIOR-EQUITY> 6000
<PAID-IN-CAPITAL-COMMON> 516269
<SHARES-COMMON-STOCK> 25154
<SHARES-COMMON-PRIOR> 24917
<ACCUMULATED-NII-CURRENT> 5820
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 55775
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 460620
<NET-ASSETS> 1069638
<DIVIDEND-INCOME> 3478
<INTEREST-INCOME> 6675
<OTHER-INCOME> 0
<EXPENSES-NET> 3685
<NET-INVESTMENT-INCOME> 6468
<REALIZED-GAINS-CURRENT> 61655
<APPREC-INCREASE-CURRENT> 14759
<NET-CHANGE-FROM-OPS> 82882
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 39071
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 50705
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 33191
<OVERDISTRIB-NII-PRIOR> 648
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3685
<AVERAGE-NET-ASSETS> 871355
<PER-SHARE-NAV-BEGIN> 34.87
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 3.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 1.57
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 36.56
<EXPENSE-RATIO> 0.42
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>