INVESTMENT RESEARCH CO
13F-HR, 1999-11-12
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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, 1999

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:	Investment Research Company
Address:	16236 San Dieguito Road #2-20
	P.O. Box 9210
	Rancho Santa Fe, CA  92067

13F File Number:

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:	Bob Zimmer
Title:	Investment Analyst
Phone:	858-759-3764
Signature, Place, and Date of Signing:

Bob Zimmer	Rancho Santa Fe, CA		30-Sep-99

Report Type  (Check only one.):

[  X  ]	13F HOLDINGS REPORT.
[       ]	13F NOTICE.
[       ]	13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:			0

Form 13F Information Table Entry Total:			530

Form 13F Information Table Value Total:			$1,136,257
<PAGE>


Form 13F INFORMATION TABLE
<TABLE>
                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                            <C>              <C>       <C>      <C>      <C> <C>  <C>     <C>          <C>      <C>      <C>
A T & T                        COM              001957109     7156   164513 SH       SOLE                   162613              1900
AC Nielsen                     COM              004833109      279    12300 SH       SOLE                    12300
AFLAC Inc.                     COM              001055102     5063   120900 SH       SOLE                   119300              1600
AK Steel Holding Corp.         COM              001547108      257    14100 SH       SOLE                     4000             10100
ANDRX Corp                     COM              034551101      480     8200 SH       SOLE                     3600              4600
AVX Corp.                      COM              002444107      414    11800 SH       SOLE                    11800
Abbott Labs                    COM              002824100     5833   159000 SH       SOLE                   159000
Acclaim Entertainment          COM              004325205      262    34500 SH       SOLE                                      34500
Adaptec                        COM              00651F108     1040    26200 SH       SOLE                    16500              9700
Adobe Sys Inc.                 COM              00724F101     1782    15700 SH       SOLE                    15600               100
Adolph Coors                   COM              217016104     3740    69100 SH       SOLE                    63400              5700
Aegon NV - ADR                 COM              534701925      720     8329 SH       SOLE                     8329
Affymetrix Inc.                COM              00826T108      207     2100 SH       SOLE                      500              1600
Air Products & Chemicals       COM              009158106     1995    68200 SH       SOLE                    67500               700
Alaska Air Group               COM              011659109      708    17400 SH       SOLE                    10500              6900
Alcoa Inc.                     COM              013817101     1701    27400 SH       SOLE                    27200               200
Allegiance Telecomm Inc.       COM              01747T102      305     5800 SH       SOLE                                       5800
Allergan Inc.                  COM              018490102     2310    21000 SH       SOLE                    20900               100
Alliance Capital Mgmt Holding  COM              01855A101      420    15300 SH       SOLE                    15300
Alliance Semiconductor Corp.   COM              01877H100      185    17400 SH       SOLE                     3000             14400
Alliant Energy Corp.           COM              018802108      205     7400 SH       SOLE                     7400
Allied - Signal                COM              019512102     1403    23400 SH       SOLE                    23400
Allstate                       COM              020002101     2850   114274 SH       SOLE                   111774              2500
Alltel Corp.                   COM              020039103     3272    46500 SH       SOLE                    45200              1300
Altera Corp.                   COM              021441100     1835    42300 SH       SOLE                    42300
Ambac Financial Group          COM              023139108      393     8300 SH       SOLE                     8300
Amerada Hess                   COM              023551104     2033    33200 SH       SOLE                    33100               100
Ameren Corporation             COM              023608102     1773    46900 SH       SOLE                    46600               300
America Online                 COM              02364J104     8460    81300 SH       SOLE                    80200              1100
America West Holdings          COM              023657208      180    10400 SH       SOLE                     1900              8500
American Express               COM              025816109     4036    29900 SH       SOLE                    29300               600
American Financial Group       COM              025932104      828    29500 SH       SOLE                    28100              1400
American General               COM              026351106      246     3900 SH       SOLE                     3900
American Home Products         COM              026609107     1029    24800 SH       SOLE                    23300              1500
American Intl. Group           COM              026874107     5600    64415 SH       SOLE                    63915               500
American Power                 COM              029066107      346    18200 SH       SOLE                    14400              3800
American Standard              COM              029712106      417    10800 SH       SOLE                    10100               700
Amerisource Health             COM              03071P102      659    27800 SH       SOLE                    16600             11200
Ameritech                      COM              030954101     5634    84400 SH       SOLE                    83100              1300
Ames Department Stores         COM              030789507      268     8400 SH       SOLE                                       8400
Amgen Inc                      COM              031162100    15884   194900 SH       SOLE                   192200              2700
Amkor Technologies             COM              031652100      253    15700 SH       SOLE                                      15700
Amtran Inc.                    COM              03234G106      242    12900 SH       SOLE                                      12900
Analog Devices                 COM              032654105      492     9601 SH       SOLE                     9401               200
Anheuser - Busch               COM              035229103     6404    91400 SH       SOLE                    90800               600
Apache Corp.                   COM              037411105      864    20000 SH       SOLE                    19200               800
Apple Computer                 COM              037833100     6122    96700 SH       SOLE                    95900               800
Applied Materials              COM              038222105     4226    54400 SH       SOLE                    53100              1300
Aprica Healthcare              COM              037933108      518    30900 SH       SOLE                    20700             10200
Arvin Industries               COM              043339100      480    15500 SH       SOLE                    13300              2200
Ashland Inc.                   COM              044204105      222     6600 SH       SOLE                     6600
Associated Banc Corp.          COM              045487105      452    12500 SH       SOLE                    10600              1900
Associates First Capital Corp  COM              046008108     2686    74600 SH       SOLE                    73300              1300
Astoria Financial Corp.        COM              046265104      360    11700 SH       SOLE                    11700
Automatic Data Proc.           COM              053015103      286     6400 SH       SOLE                     6400
BB&T Corporation               COM              054937107      353    10900 SH       SOLE                    10500               400
BJ's Wholesale                 COM              05548J106      899    30400 SH       SOLE                    30400
BMC Software                   COM              055921100      258     3600 SH       SOLE                     3600
Ball Corp.                     COM              058498106     3538    80300 SH       SOLE                    73300              7000
Banc One Corp.                 COM              06423A103     7454   214118 SH       SOLE                   214118
Bank New York                  COM              064057102     2611    78100 SH       SOLE                    77200               900
Bank of America Corp.          COM              060505104     5426    97430 SH       SOLE                    95507              1923
Bank of Boston                 COM              06605R106      577    13300 SH       SOLE                    12700               600
Bard (C.R.), Inc.              COM              067383109     3365    71500 SH       SOLE                    69600              1900
Bausch & Lomb                  COM              071707103      508     7700 SH       SOLE                     7300               400
Baxter Int                     COM              071813109      289     4800 SH       SOLE                     4800
Bear Stearns Cos.              COM              073902108     1918    49901 SH       SOLE                    48901              1000
Bed Bath & Beyond              COM              075896100      430    12300 SH       SOLE                    12300
Bell Atlantic                  COM              077853109     5823    86500 SH       SOLE                    85400              1100
BellSouth                      COM              079860102     9288   206400 SH       SOLE                   205700               700
Bergen Brunswig                COM              083739102      250    24100 SH       SOLE                    20900              3200
Best Buy                       COM              086516101     5685    91700 SH       SOLE                    90500              1200
Bindley Western Industries     COM              090324104      248    17333 SH       SOLE                                      17333
Biogen Inc.                    COM              090597105     2159    27400 SH       SOLE                    27400
Boeing Company                 COM              097023105      371     8700 SH       SOLE                     8700
Boise Cascade                  COM              097383103     4066   111600 SH       SOLE                   102000              9600
Boise Cascade Office           COM              097403109      124    11400 SH       SOLE                                      11400
Borg-Warner Automotive         COM              099724106      378     8800 SH       SOLE                     6000              2800
Boston Scientific              COM              101137107      562    22700 SH       SOLE                    22200               500
Briggs & Stratton              COM              109043109      846    14500 SH       SOLE                     9600              4900
Brinker Intl                   COM              109641100      603    22300 SH       SOLE                    18000              4300
Bristol - Myers                COM              110122108    19696   291800 SH       SOLE                   288500              3300
Brunswick Corp.                COM              117043109     4341   174500 SH       SOLE                   162000             12500
Buffets Inc.                   COM              119882108      351    30200 SH       SOLE                    23100              7100
Burlington Northern            COM              12189T104      569    20700 SH       SOLE                    20700
CMP group Inc                  COM              125887109      343    13000 SH       SOLE                    13000
CNF Transportation             COM              12612W104      283     7600 SH       SOLE                     7600
CSG Systems Intl Inc.          COM              126349109      266     9700 SH       SOLE                     8400              1300
CSX Corp.                      COM              126408103      233     5500 SH       SOLE                     5500
Calpine Corporation            COM              131347106      323     3800 SH       SOLE                                       3800
Capital One Financial          COM              14040H105      788    20200 SH       SOLE                    19900               300
Carnival Corporation           COM              143658102     2275    52300 SH       SOLE                    51600               700
Carolina Power                 COM              144141108      205     5800 SH       SOLE                     5800
Caterpillar Inc.               COM              149123101     2231    40700 SH       SOLE                    40700
Cendant Corp                   COM              151313103      930    52400 SH       SOLE                    52400
Centennial Cellular            COM              15133V208      232     5100 SH       SOLE                                       5100
Centex Corp.                   COM              152312104      831    28100 SH       SOLE                    24300              3800
Centocor Inc.                  COM              152342101     1622    27700 SH       SOLE                    27700
Century Communications Cl. A   COM              156503104     1063    23300 SH       SOLE                    13100             10200
Charter One Financial          COM              160903100      209     9040 SH       SOLE                     9040
Chase Manhattan                COM              16161A108    16108   213700 SH       SOLE                   211000              2700
Chevron Corp.                  COM              166751107     5618    63300 SH       SOLE                    62500               800
Chicago Title Corporation      COM              168228104      276     6900 SH       SOLE                      800              6100
Chubb Corp.                    COM              171232101      561    11300 SH       SOLE                    11300
Church & Dwight                COM              171340102      455    18200 SH       SOLE                    18200
Cincinnati Bell                COM              171870108      241    12400 SH       SOLE                    12400
Cintas Corp.                   COM              172908105      474     8200 SH       SOLE                     8200
Circuit City Stores            COM              172737108      962    22800 SH       SOLE                    22600               200
Cisco Systems                  COM              17275R102    16583   241863 SH       SOLE                   238563              3300
Citigroup                      COM              172967101    19972   453920 SH       SOLE                   447120              6800
Citrix Systems                 COM              177376100      607     9800 SH       SOLE                     9800
City National Corp.            COM              178566105      503    15000 SH       SOLE                     6200              8800
Ck Witco Corporation           COM              12562C108      258    17700 SH       SOLE                    17700
Clarify Inc.                   COM              180492100      211     4200 SH       SOLE                      700              3500
Clorox Co.                     COM              189054109      252     6600 SH       SOLE                     6200               400
Coastal Corp.                  COM              190441105     2829    69100 SH       SOLE                    68100              1000
Coca Cola Co.                  COM              191216100     3406    70600 SH       SOLE                    69700               900
Coca Cola Enterprises          COM              191219104      557    24700 SH       SOLE                    24700
Colgate - Palmolive            COM              194162103      430     9400 SH       SOLE                     9400
Columbia Healthcare Corp       COM              197677107     3693   174300 SH       SOLE                   171900              2400
Comcast Cp A                   COM              200300200    14203   356200 SH       SOLE                   351700              4500
Comdisco Inc.                  COM              200336105     2430   125850 SH       SOLE                   104250             21600
Compass Bancshares             COM              20449H109      390    15600 SH       SOLE                    15600
Computer Assoc                 COM              204912109     2225    36400 SH       SOLE                    36200               200
Compuware Corp.                COM              205638109      508    19500 SH       SOLE                    19100               400
ConAgra Inc.                   COM              205887102     2333   103400 SH       SOLE                   102000              1400
Concord EFS                    COM              206197105      408    19800 SH       SOLE                    19800
Conectiv Inc.                  COM              206829103      593    30200 SH       SOLE                    30200
Conexant Sys.                  COM              207142100      894    12300 SH       SOLE                     8400              3900
Conoco Inc.                    COM              208251306      466    16800 SH       SOLE                    16800
Consolidated Freightways CRP   COM              209232107      117    11800 SH       SOLE                                      11800
Consolidated Papers            COM              209759109      347    12900 SH       SOLE                    12900
Constellation Energy           COM              210371100      281    10000 SH       SOLE                    10000
Continental Airlines - B       COM              210795308      478    14600 SH       SOLE                     8600              6000
Convergys Corp.                COM              212485106      763    38500 SH       SOLE                    38500
Converse Technology            COM              205862402      844     8950 SH       SOLE                     8950
Cordant Technologies Inc.      COM              218412104      694    22800 SH       SOLE                    22800
Corning Inc.                   COM              219350105     1618    23600 SH       SOLE                    23300               300
Costco Wholesale Corp          COM              22160K105     1368    19000 SH       SOLE                    18700               300
Cox Communications             COM              224044107      651    15592 SH       SOLE                    15592
Cummins Engine                 COM              231021106     3890    78100 SH       SOLE                    73400              4700
Cypress Semiconductor          COM              232806109      604    28100 SH       SOLE                    28100
D R Horton                     COM              23331A109      186    14400 SH       SOLE                      700             13700
DPL Inc.                       COM              233293109      240    13600 SH       SOLE                    12200              1400
Danaher Corp.                  COM              235851102      253     4800 SH       SOLE                     4700               100
Darden Restaurants Inc.        COM              237194105      475    24300 SH       SOLE                     7900             16400
Dayton Hudson                  COM              239753106     6877   114500 SH       SOLE                   113500              1000
Dean Foods Co.                 COM              242361103      218     5000 SH       SOLE                      700              4300
Dell Computer Corp.            COM              247025109     9023   215800 SH       SOLE                   212800              3000
Delphi Automotive Systems Corp COM              247126105      799    49758 SH       SOLE                    48431              1327
Delta Air Lines                COM              247361108     4122    85000 SH       SOLE                    84000              1000
Deluxe Corp.                   COM              248019101      819    24100 SH       SOLE                    24100
Dendrite International         COM              248239105      312     6600 SH       SOLE                                       6600
Detroit Edison                 COM              233331107      853    23600 SH       SOLE                    22800               800
Dexter Corp.                   COM              252165105      563    15100 SH       SOLE                    11100              4000
Diamond Offshore               COM              25271C102     1335    40000 SH       SOLE                    27200             12800
Dillard Dept. Stores           COM              254067101      402    19800 SH       SOLE                    19800
Dollar Thrifty                 COM              256743105      217    10500 SH       SOLE                     1600              8900
Dow Chemical                   COM              260543103    13703   120600 SH       SOLE                   119100              1500
Du Pont                        COM              263534109     5754    95100 SH       SOLE                    95100
Dycom Industries               COM              267475101      283     6700 SH       SOLE                                       6700
Dynegy                         COM              26816L102      298    14400 SH       SOLE                    14400
E M C Corp.                    COM              268648102     7430   104100 SH       SOLE                   102400              1700
E* Trade Group                 COM              269246104      437    18600 SH       SOLE                    18600
EOG Resources Inc              COM              26875P101      988    46500 SH       SOLE                    24800             21700
Eastman Kodak                  COM              277461109      370     4900 SH       SOLE                     4300               600
Eaton Corp.                    COM              278058102      492     5700 SH       SOLE                     5700
Ecolab Inc.                    COM              278865100     1116    32700 SH       SOLE                    32700
Edison International           COM              281020107      204     8400 SH       SOLE                     6200              2200
Electronic Arts                COM              285512109      637     8800 SH       SOLE                     8800
Electronic Data Systems        COM              285661104     6998   132200 SH       SOLE                   131100              1100
Electronics for Imaging        COM              286082102      391     7600 SH       SOLE                     6200              1400
Emerson Electric               COM              291011104      739    11700 SH       SOLE                    10700              1000
Energy East Corp.              COM              29266M109      389    16400 SH       SOLE                    16400
Enron Oil & Gas                COM              293561106     7145   174000 SH       SOLE                   173200               800
Ensco International            COM              26874Q100     1483    82100 SH       SOLE                    75300              6800
Entergy Corp.                  COM              29364G103     1288    44500 SH       SOLE                    43100              1400
Ethyl Corp.                    COM              297659104      414   106800 SH       SOLE                    74100             32700
Everest Reinsurance            COM              299808105      702    29500 SH       SOLE                    20900              8600
Exxon Mobile Corp.             COM              302290101    16203   213200 SH       SOLE                   210300              2900
FMC Corp.                      COM              302491303     3107    64400 SH       SOLE                    62800              1600
Family Dollar Stores           COM              307000109      330    15600 SH       SOLE                    15600
Fannie Mae                     COM              313586109     9980   159200 SH       SOLE                   156000              3200
Federal Express                COM              31304N107     2103    54100 SH       SOLE                    52300              1800
Federal Home Loan              COM              313400301     3328    64000 SH       SOLE                    63200               800
Federated Department Stores    COM              31410H101     3678    84200 SH       SOLE                    83200              1000
Ferro Corp.                    COM              315405100      359    16850 SH       SOLE                    10550              6300
Fifth Third Bancorp            COM              316773100      596     9800 SH       SOLE                     9800
First Data Corp.               COM              319963104     6498   148100 SH       SOLE                   146700              1400
First Security Corp.           COM              336294103      338    14200 SH       SOLE                    14200
First Tennessee National       COM              337162101      616    21900 SH       SOLE                    21900
First Union Corp.              COM              337358105     2554    71700 SH       SOLE                    71700
First Virginia Banks           COM              337477103      499    11450 SH       SOLE                     9350              2100
Firstar Corp.                  COM              33763V109     4282   167100 SH       SOLE                   162500              4600
Fleet Boston Corp.             COM              338915101     9522   260000 SH       SOLE                   257400              2600
Fleming Co. Inc.               COM              339130106      182    18500 SH       SOLE                     3100             15400
Florida Progress               COM              341109106      453     9800 SH       SOLE                     9800
Fluor Corp.                    COM              343861100      342     8500 SH       SOLE                     1400              7100
Ford Motor                     COM              345370100     6854   136400 SH       SOLE                   135100              1300
Fortune Brands                 COM              349631101     2464    76400 SH       SOLE                    75400              1000
Foundation Health Systems-Clas COM              350404109      186    19700 SH       SOLE                     3300             16400
Freeport-McMoran Copper ClB    COM              35671D857     1228    78900 SH       SOLE                    63200             15700
GTE Corp.                      COM              362320103     8464   110100 SH       SOLE                   108300              1800
GTech Holdings                 COM              400518106      514    24000 SH       SOLE                    16300              7700
Galileo International          COM              363547100      652    16200 SH       SOLE                    16200
Gap (The)                      COM              364760108     2680    83750 SH       SOLE                    83750
Gatx Corp.                     COM              361448103     2277    73300 SH       SOLE                    64300              9000
Gencorp                        COM              368682100      461    25200 SH       SOLE                    18400              6800
General Dynamics               COM              369550108      681    10900 SH       SOLE                    10700               200
General Electric               COM              369604103    25052   211300 SH       SOLE                   208700              2600
General Instr Corp.            COM              370120107     2280    47500 SH       SOLE                    46500              1000
General Mills                  COM              370334104     3229    39800 SH       SOLE                    39600               200
General Motors                 COM              370442105    13280   211000 SH       SOLE                   208200              2800
General Pub Utils              COM              36225X100     1710    52400 SH       SOLE                    52400
Genzyme Corp.                  COM              372917104      617    13700 SH       SOLE                    13700
Georgia - Pacific              COM              373298108     4048   100100 SH       SOLE                    99100              1000
Georgia Pacific Timber         COM              373298702      208     9100 SH       SOLE                     9100
Global Crossing LTD            COM              G3921A100      885    33415 SH       SOLE                    33415
Golden State Bancorp           COM              381197102      430    24000 SH       SOLE                    15700              8300
Golden West Fin'l.             COM              381317106      777     7900 SH       SOLE                     7800               100
Goodrich (B.F.)                COM              382388106     1166    40200 SH       SOLE                    39200              1000
Great A & P                    COM              390064103     1522    50200 SH       SOLE                    43600              6600
Great Lakes Chemical           COM              390568103      700    18400 SH       SOLE                    14800              3600
Guess? Inc.                    COM              401617105      222    16500 SH       SOLE                     2300             14200
Guidant Corp                   COM              401698105     1072    20000 SH       SOLE                    19600               400
Hambrecht & Quist Group        COM              406545103      214     4400 SH       SOLE                      900              3500
Harley Davidson Inc.           COM              412822108      851    17000 SH       SOLE                    17000
Harmonic Inc.                  COM              413160102      249     1900 SH       SOLE                      400              1500
Hartford Financial Svcs Grp    COM              416515104     2170    53100 SH       SOLE                    53100
Haverty Furniture              COM              419596101      162    11200 SH       SOLE                                      11200
Healthsouth Rehabilitaion      COM              421924101      170    28000 SH       SOLE                    28000
Heinz (H.J.)                   COM              423074103     2795    65000 SH       SOLE                    65000
Heller Financial Inc.          COM              423328103      211     9400 SH       SOLE                     1600              7800
Herbalife International        COM              426908208      168    11000 SH       SOLE                     2100              8900
Hewlett - Packard              COM              428236103     6752    74400 SH       SOLE                    73900               500
Hibernia Corp.                 COM              428656102      152    13100 SH       SOLE                     9400              3700
Hollinger International        COM              435569108      328    27600 SH       SOLE                     7300             20300
Home Depot                     COM              437076102     7988   116404 SH       SOLE                   114804              1600
Honeywell                      COM              438506107     1347    12100 SH       SOLE                    12100
Hormel Foods                   COM              440452100      591    14300 SH       SOLE                    14300
Houghton Mifflin               COM              441560109      305     7500 SH       SOLE                     7500
Howmet International           COM              443208103      246    17600 SH       SOLE                    13900              3700
Hubbell Inc Class B            COM              443510201      236     7400 SH       SOLE                     7400
IBP Inc.                       COM              449223106     2790   113000 SH       SOLE                   100000             13000
IVAX Corp.                     COM              465823102      810    49100 SH       SOLE                    49100
Ikon                           COM              451713101     2644   247400 SH       SOLE                   227400             20000
Imation Corp                   COM              45245A107      415    13400 SH       SOLE                    12600               800
Inco, Ltd.                     COM              453258402      438    20500 SH       SOLE                    20500
Informix                       COM              456779107      158    19900 SH       SOLE                    14700              5200
Ingersoll - Rand               COM              456866102      989    18000 SH       SOLE                    17600               400
Int'l Business Mach.           COM              459200101    31363   259200 SH       SOLE                   255800              3400
Int'l Paper                    COM              460146103      264     5500 SH       SOLE                     5500
Integrated Device Tech.        COM              458118106      370    20000 SH       SOLE                    20000
Intel Corp.                    COM              458140100    25541   343700 SH       SOLE                   339700              4000
International Multifoods       COM              460043102      202     8800 SH       SOLE                     8800
International Network Services COM              460053101      715    13150 SH       SOLE                     9100              4050
Intertan Inc.                  COM              461120107      237    12100 SH       SOLE                     1600             10500
Intimate Brands Inc.           COM              461156101      874    22445 SH       SOLE                    22445
Intuit Inc.                    COM              461202103     1403    16000 SH       SOLE                    16000
J.P. Morgan & Co.              COM              616880100     4056    35500 SH       SOLE                    35300               200
Jack in the Box, Inc.          COM              466367109      277    11100 SH       SOLE                                      11100
Johnson & Johnson              COM              478160104     7451    81100 SH       SOLE                    79500              1600
Johnson Controls               COM              478366107     1751    26400 SH       SOLE                    26400
Jones Apparel Group            COM              480074103      312    10852 SH       SOLE                    10852
Jostens                        COM              481088102      275    14400 SH       SOLE                    14400
K Mart                         COM              482584109     1270   108700 SH       SOLE                   104800              3900
KLA-Tencor                     COM              482480100      481     7400 SH       SOLE                     7300               100
Kaman Corp. Cl A               COM              483548103      177    13900 SH       SOLE                                      13900
Kaufman & Broad Home           COM              486168107     1433    69500 SH       SOLE                    58900             10600
Kellogg                        COM              487836108     2246    60000 SH       SOLE                    59400               600
Kelly Services                 COM              488152208      735    24400 SH       SOLE                    18600              5800
Kerr - McGee                   COM              492386107      204     3700 SH       SOLE                     3500               200
KeyCorp                        COM              493267108      857    33200 SH       SOLE                    31200              2000
King World Productions         COM              495667107      274     7300 SH       SOLE                                       7300
Kohls Corp.                    COM              500255104      469     7100 SH       SOLE                     6900               200
LSI Logic Corp.                COM              502161102     1066    20500 SH       SOLE                    20200               300
Laboratory Crp of Amer Holding COM              50540R102      166    60400 SH       SOLE                                      60400
Lafarge Corp                   COM              505862102     1354    42300 SH       SOLE                    35900              6400
Lamb Research Corp             COM              512807108      281     4600 SH       SOLE                      900              3700
Lands End                      COM              515086106      211     3200 SH       SOLE                     3200
Landstar Sys. Inc.             COM              515098101      236     6800 SH       SOLE                                       6800
Lear Corporation               COM              521865105      514    14600 SH       SOLE                     8300              6300
Legato Systems Inc             COM              524651106      445    10200 SH       SOLE                     9200              1000
Lehman Brothers                COM              524908100      508     8700 SH       SOLE                     8500               200
Level 3 Communications         COM              52729N100      366     7000 SH       SOLE                     7000
Lexmark International - A      COM              529771107     2367    29400 SH       SOLE                    29400
Liberty Digital Inc. Cl - A    COM              530436104      221     9500 SH       SOLE                                       9500
Lilly (Eli) & Co.              COM              532457108     8056   125500 SH       SOLE                   123600              1900
Limited, Inc.                  COM              532716107      241     6300 SH       SOLE                     6300
Lincare Holdings               COM              532791100      546    20500 SH       SOLE                    20500
Lincoln National               COM              534187109      917    24400 SH       SOLE                    23200              1200
Linear Technology              COM              535678106      929    15800 SH       SOLE                    15800
Litton Inds.                   COM              538021106      268     4900 SH       SOLE                     4900
Loew's Corp.                   COM              540424108      456     6500 SH       SOLE                     6500
Lone Star Industries           COM              542290408      219     4400 SH       SOLE                                       4400
Lowe's Cos.                    COM              548661107     2004    41100 SH       SOLE                    40200               900
Lubrizol Corp.                 COM              549271104      385    15000 SH       SOLE                    15000
Lucent Technology              COM              549463107    22386   345063 SH       SOLE                   340827              4236
MBIA Inc                       COM              55262C100      266     5700 SH       SOLE                     5700
MBNA Corp.                     COM              55262L100      855    37500 SH       SOLE                    36600               900
MCI-Worldcom, Inc.             COM              55268B106    10027   139500 SH       SOLE                   137600              1900
Mallinckrodt Group             COM              561232109     1322    43800 SH       SOLE                    36000              7800
Mandalay Resort Group          COM              172909103      431    21800 SH       SOLE                    19600              2200
Manpower Inc.                  COM              56418H100      591    20300 SH       SOLE                    13100              7200
Mark IV Ind                    COM              570387100      421    21300 SH       SOLE                    21300
Marsh & McLennan               COM              571748102      493     7200 SH       SOLE                     7200
Marshall & Ilsley              COM              571834100      725    12700 SH       SOLE                    12700
Martin Marietta Materials      COM              573284106      276     6900 SH       SOLE                     5800              1100
Maxim Integrated Products      COM              57772K101      662    10500 SH       SOLE                    10500
Maxxam Inc.                    COM              577913106      380     7400 SH       SOLE                     4500              2900
McCormick & Co.                COM              579780206      469    14200 SH       SOLE                    14200
McGraw-Hill                    COM              580645109      740    15300 SH       SOLE                    15100               200
Media General Inc Class A      COM              584404107      292     5700 SH       SOLE                     5700
Mediaone Group Inc.            COM              58440J104     3716    54400 SH       SOLE                    54200               200
Medimmune Inc.                 COM              584699102     1066    10700 SH       SOLE                     8800              1900
Mercantile Bankshares          COM              587405101      744    24050 SH       SOLE                    24050
Merck & Co.                    COM              589331107     9339   144100 SH       SOLE                   142200              1900
Meritor Automotive             COM              59000G100     1008    48300 SH       SOLE                    35000             13300
Merrill Lynch                  COM              590188108     6273    93100 SH       SOLE                    92300               800
Micron Technology              COM              595112103      366     5500 SH       SOLE                     5200               300
Microsoft                      COM              594918104    38018   419800 SH       SOLE                   414100              5700
Midamerican Energy Com.        COM              59562V107      994    33700 SH       SOLE                    33700
Millinium Chemical             COM              599903101      380    18600 SH       SOLE                    18600
Mobil Corp.                    COM              607059102     7365    73100 SH       SOLE                    72200               900
Modis Professional Srvcs       COM              607830106      203    15300 SH       SOLE                    15300
Monsanto Company               COM              611662107      407    11400 SH       SOLE                    11100               300
Montana Power                  COM              612085100      262     8600 SH       SOLE                     8600
Morgan Stanley, Dean Witter    COM              617446448    11836   132705 SH       SOLE                   131340              1365
Motorola Inc.                  COM              620076109     2816    32000 SH       SOLE                    31300               700
Murphy Oil Corp.               COM              626717102      746    13800 SH       SOLE                    13800
Musicland Stores               COM              62758B109      130    14600 SH       SOLE                                      14600
Mylan Labs                     COM              628530107      200    10900 SH       SOLE                    10900
NCI Building Systems           COM              628852105      177    10700 SH       SOLE                     1800              8900
NCR Corp                       COM              62886E108      516    15600 SH       SOLE                    15600
NStar                          COM              67019E107      213     5500 SH       SOLE                                       5500
NVR Inc.                       COM              62944T105      268     5300 SH       SOLE                      600              4700
Nabisco Group Holdings         COM              62952P102     2983   198900 SH       SOLE                   195900              3000
Nabisco Holdings Corp Cl A     COM              629526104      950    27500 SH       SOLE                    27500
Nat'l Semiconductor            COM              637640103     2524    82600 SH       SOLE                    66400             16200
National City Corp             COM              635405103      710    26600 SH       SOLE                    25800               800
National Fuel Gas              COM              636180101      208     4400 SH       SOLE                     4400
Navistar Intl                  COM              63934E108      716    15400 SH       SOLE                     9300              6100
Network Appliance Inc.         COM              64120L104      329     4600 SH       SOLE                     2800              1800
Network Associates             COM              640938106      281    14700 SH       SOLE                    10700              4000
Nextel Communications          COM              65332V103      902    13300 SH       SOLE                    12900               400
Nielson Media                  COM              653929307      253     6800 SH       SOLE                     1400              5400
Nisource, Inc.                 COM              65473P105      589    26600 SH       SOLE                    26600
Noble Affiliates               COM              654894104      331    11400 SH       SOLE                     7100              4300
Nortel Networks Ltd.           COM              656569100     8925   175000 SH       SOLE                   173500              1500
Novell                         COM              670006105     3080   148900 SH       SOLE                   147100              1800
Nu Skin Enterprises Cl A       COM              67018T105      136    10100 SH       SOLE                     8700              1400
ONEOK Inc.                     COM              682680103      306    10100 SH       SOLE                     5400              4700
Occidental Petroleum           COM              674599105      666    28800 SH       SOLE                    28400               400
Office Depot                   COM              676220106      668    63650 SH       SOLE                    63150               500
Ogden Corp.                    COM              676346109      409    39400 SH       SOLE                    24100             15300
Oklahoma Gas & Electric        COM              670837103      452    20300 SH       SOLE                     9600             10700
Old Kent Financial Corp        COM              679833103      384    10337 SH       SOLE                    10337
Olsten Corp.                   COM              681385100      115    11000 SH       SOLE                    11000
Omnicom Group                  COM              681919106     1402    17700 SH       SOLE                    17500               200
Omnipoint Corp                 COM              68212D102      279     5000 SH       SOLE                                       5000
Oracle Systems                 COM              68389X105    14310   314500 SH       SOLE                   310050              4450
Owens & Minor                  COM              690732102      143    14900 SH       SOLE                     3100             11800
PACCAR Inc.                    COM              693718108      895    17600 SH       SOLE                    17600
PMC-Sierra Inc.                COM              69344F106      555     6000 SH       SOLE                                       6000
PNC Financial                  COM              693475105     4900    93000 SH       SOLE                    91200              1800
Pacific Century Financial      COM              694058108      674    33000 SH       SOLE                    24400              8600
Pacific Gas & Elec.            COM              69331C108     5959   230300 SH       SOLE                   228000              2300
Pacificare Health Systems      COM              695112102      947    21900 SH       SOLE                    21900
Patterson Energy Inc.          COM              703414102      170    11200 SH       SOLE                                      11200
Paychex Inc.                   COM              704326107      568    16650 SH       SOLE                    16650
Peco Energy Co.                COM              693304107     3139    83700 SH       SOLE                    82400              1300
Pentair                        COM              709631105      401    10000 SH       SOLE                    10000
Peoples Bank Bridgeport        COM              710198102      262    11100 SH       SOLE                    11100
Pep Boys Manny Moe             COM              713278109     1865   125400 SH       SOLE                   110800             14600
Pepsico Inc.                   COM              713448108     4075   133600 SH       SOLE                   130900              2700
Perot Systems Cl A             COM              714265105      263    14100 SH       SOLE                     4400              9700
Pfizer, Inc.                   COM              717081103     5564   155100 SH       SOLE                   152300              2800
Phelps Dodge                   COM              717265102     1718    31200 SH       SOLE                    25700              5500
Philip Morris                  COM              718154107     5504   161000 SH       SOLE                   159200              1800
Phillips Petroleum             COM              718507106      536    11000 SH       SOLE                    10700               300
Pilgrims Pride Corp Cl B       COM              721467108      171    19700 SH       SOLE                     3500             16200
Pinnacle West Capital          COM              723484101      487    13400 SH       SOLE                    13400
Pioneer Standard               COM              723877106      224    15500 SH       SOLE                     2500             13000
Pitney - Bowes                 COM              724479100      737    12100 SH       SOLE                    12100
Pittston Brinks Group          COM              725701106      403    17400 SH       SOLE                    17400
Polycom Inc.                   COM              73172K104      300     6300 SH       SOLE                                       6300
Praxair                        COM              74005P104     1909    41500 SH       SOLE                    40900               600
Premark Intl.                  COM              740459102     1757    34800 SH       SOLE                    28700              6100
Procter & Gamble               COM              742718109     3075    32800 SH       SOLE                    32600               200
Protective Life Corp           COM              743674103      560    19300 SH       SOLE                    11900              7400
Providian Corp.                COM              74406A102     1623    20500 SH       SOLE                    19950               550
Pub Serv Enterp Inc            COM              744573106     4859   125800 SH       SOLE                   125000               800
Public Service of New Mex      COM              744499104      297    16300 SH       SOLE                    16300
Puget Sound Power & Light      COM              745332106      583    26000 SH       SOLE                    26000
Pulte Corp.                    COM              745867101      407    18700 SH       SOLE                    12800              5900
QLogic Corporation             COM              747277101      565     8100 SH       SOLE                     3000              5100
Quaker Oats                    COM              747402105     1974    31900 SH       SOLE                    31900
Qualcomm                       COM              747525103     3103    16400 SH       SOLE                    16200               200
Quantum Corp-DLT & Storage     COM              747906204      287    20400 SH       SOLE                      800             19600
Rational Software              COM              75409P202      425    14500 SH       SOLE                    11900              2600
Reebok Int'l                   COM              758110100      991    92700 SH       SOLE                    90200              2500
Reinsurance Group Amer.        COM              759351109      482    18750 SH       SOLE                    13200              5550
Resource Bancshares            COM              761197102       54    10900 SH       SOLE                                      10900
Reynolds & Reynolds            COM              761695105     1997    98000 SH       SOLE                    86800             11200
Rhythms Netconnections Inc.    COM              762430205      297     8600 SH       SOLE                     1700              6900
Rockwell Int'l                 COM              773903109     5612   106900 SH       SOLE                   105500              1400
Roslyn Bancorp                 COM              778162107      476    26655 SH       SOLE                    17900              8755
Royal Dutch Petroleum          COM              780257804     4577    77500 SH       SOLE                    76400              1100
Ruddick Corp                   COM              781258108      197    12400 SH       SOLE                    12400
Ryerson Tull Inc.              COM              78375P107      398    17200 SH       SOLE                    11000              6200
Ryland Group                   COM              783764103      287    12600 SH       SOLE                     1400             11200
SAFECO Corp.                   COM              786429100     1842    65800 SH       SOLE                    65800
SBC Communications             COM              78387G103     9827   192458 SH       SOLE                   189558              2900
SCI Systems                    COM              783890106      622    14000 SH       SOLE                    12600              1400
SPX Corp                       COM              784635104      354     3900 SH       SOLE                     3900
Sabre Group Holdings           COM              785905100      697    16200 SH       SOLE                    16200
Safeguard Scientifics          COM              786449108     1190    17500 SH       SOLE                    13000              4500
Safety Kleen                   COM              78648R203      197    16300 SH       SOLE                    16300
Sara Lee Corp.                 COM              803111103      741    31700 SH       SOLE                    31700
Schering-Plough                COM              806605101    14662   336100 SH       SOLE                   331500              4600
Scholastic Corp.               COM              807066105      365     7300 SH       SOLE                     7300
Schulman A                     COM              808194104      194    11200 SH       SOLE                    11200
Schwab, Charles                COM              808513105     2407    72000 SH       SOLE                    71000              1000
Seagate Technology             COM              811804103     1142    37300 SH       SOLE                    36900               400
Seagram Ltd.                   COM              811850106      305     6700 SH       SOLE                     6700
Shared Medical Systems         COM              819486101      238     5100 SH       SOLE                     5100
Shaw Industries                COM              820286102      767    48300 SH       SOLE                    35400             12900
Sherwin-Williams               COM              824348106     1432    68400 SH       SOLE                    68400
Shopko Stores                  COM              824911101      217     7500 SH       SOLE                                       7500
Siebel Systems, Inc.           COM              826170102     1286    19300 SH       SOLE                    19300
Smithfield Foods               COM              832248108      214     8000 SH       SOLE                     1300              6700
Solectron Corp.                COM              834182107      955    13300 SH       SOLE                    13000               300
Solutia Inc.                   COM              834376105      293    16400 SH       SOLE                    16400
Southdown Inc.                 COM              841297104      401     7500 SH       SOLE                     7500
Southwest Airlines             COM              844741108      629    41400 SH       SOLE                    40800               600
Southwest Bancorp TX           COM              84476R109      249    14300 SH       SOLE                                      14300
Springs Inds. Inc.             COM              851783100     2769    81600 SH       SOLE                    75600              6000
Sprint Corp.                   COM              852061100     4823    88900 SH       SOLE                    88100               800
Staples                        COM              855030102      497    22800 SH       SOLE                    22300               500
Station Casinos                COM              857689103      202     8700 SH       SOLE                     1500              7200
Stoneridge Inc.                COM              86183P102      189    10900 SH       SOLE                                      10900
Structural Dynamics Rsrch      COM              863555108      311    20700 SH       SOLE                    17100              3600
Suiza Foods Corp               COM              865077101      304     8100 SH       SOLE                     3300              4800
Sun Microsystems               COM              866810104    10156   109200 SH       SOLE                   107000              2200
SunTrust Banks                 COM              867914103      243     3700 SH       SOLE                     3700
Sungard Data Systems           COM              867363103      271    10300 SH       SOLE                    10300
Super Valu Stores              COM              868536103     5908   267800 SH       SOLE                   252300             15500
Sybase Inc.                    COM              871130100      275    23300 SH       SOLE                     3300             20000
Symantec Corp.                 COM              871503108      996    27700 SH       SOLE                    22000              5700
Symbol Technologies            COM              871508107      267     7950 SH       SOLE                     6900              1050
Synopsys Inc.                  COM              871607107      298     5300 SH       SOLE                     5300
T Rowe Price                   COM              741477103      815    29700 SH       SOLE                    29700
TJX                            COM              872540109      404    14400 SH       SOLE                    14000               400
TMP Worldwide                  COM              872941109      444     7300 SH       SOLE                     3300              4000
TNP Enterprises                COM              872594106      257     6600 SH       SOLE                                       6600
Tandy Corp.                    COM              875382103      889    17200 SH       SOLE                    17000               200
Taubman Centers Inc.           COM              876664103      120    10400 SH       SOLE                     2500              7900
Tecumseh Prods                 COM              878895200      431     8600 SH       SOLE                     3200              5400
Telephone & Data Sys           COM              879433100     1004    11300 SH       SOLE                    11300
Tellabs Inc                    COM              879664100     1133    19900 SH       SOLE                    19500               400
Temple-Inland                  COM              879868107     2190    35900 SH       SOLE                    35500               400
Teradyne Inc.                  COM              880770102      952    27000 SH       SOLE                    27000
Terex Corporation              COM              880779103      306     9700 SH       SOLE                     1100              8600
Texaco Inc.                    COM              881694103     2979    47200 SH       SOLE                    46600               600
Texas Industries Inc.          COM              882491103      215     5800 SH       SOLE                     1000              4800
Texas Instruments              COM              882508104     5675    69000 SH       SOLE                    68200               800
Texas Utilities                COM              882848104     2933    78600 SH       SOLE                    78300               300
ThreeCom Corp                  COM              885535104      402    14000 SH       SOLE                    13600               400
Tiffany & Co.                  COM              886547108      851    14200 SH       SOLE                    12600              1600
Time Warner                    COM              887315109    12028   198000 SH       SOLE                   196600              1400
Timken Co.                     COM              887389104      739    45800 SH       SOLE                    45800
Trans World Entertainment      COM              89336Q100      145    11400 SH       SOLE                                      11400
Travelers Property Casualty -  COM              893939108     1150    39000 SH       SOLE                    39000
Tribune Corp.                  COM              896047107      527    10600 SH       SOLE                    10600
Tricon Global Restaurant       COM              895953107      282     6900 SH       SOLE                     6900
Trigon Healthcare              COM              89618L100     1044    35700 SH       SOLE                    27000              8700
Trinity Industries             COM              896522109      494    16000 SH       SOLE                    14700              1300
Tupperware Corp                COM              899896104     3165   156300 SH       SOLE                   154300              2000
Tyco International LTD         COM              902124106     7480    72450 SH       SOLE                    71550               900
Tyson Foods                    COM              902494103     1057    64300 SH       SOLE                    64300
UAL Corp                       COM              902549500      895    13700 SH       SOLE                    10800              2900
US West                        COM              91273H101     6705   117500 SH       SOLE                   117500
USG Corp                       COM              903293405     2400    50400 SH       SOLE                    43400              7000
UST Inc.                       COM              902911106     1060    35100 SH       SOLE                    33900              1200
USX Steel                      COM              90337T101     1246    48400 SH       SOLE                    47400              1000
Ultramar Diamond Sharmrock     COM              904000106      258    10100 SH       SOLE                     2000              8100
Unilever N.V.                  COM              904784709     2413    35417 SH       SOLE                    34453               964
Union Carbide                  COM              905581104     1420    25000 SH       SOLE                    25000
Union Pacific                  COM              907818108     1615    33600 SH       SOLE                    33000               600
Union Pacific Resources        COM              907834105     1385    86200 SH       SOLE                    86200
Unisys Corp.                   COM              909214108     5884   130400 SH       SOLE                   128500              1900
United Global.com              COM              913247508      265     3700 SH       SOLE                      700              3000
United Healthcare              COM              910581107     2283    46900 SH       SOLE                    46200               700
United Technologies            COM              913017109    12129   204500 SH       SOLE                   201700              2800
Unitrin Inc.                   COM              913275103      202     5800 SH       SOLE                     4000              1800
Universal Corp.                COM              913456109      619    23700 SH       SOLE                    13400             10300
Unocal Corp.                   COM              915289102     1924    51900 SH       SOLE                    51900
UtiliCorp United               COM              918005109     1783    84650 SH       SOLE                    71000             13650
VISX INC DEL COM               COM              92844S105      285     3600 SH       SOLE                     2400              1200
Vastar Resources               COM              922380100      375     6000 SH       SOLE                     6000
Verisign Inc.                  COM              92343E102     1097    10300 SH       SOLE                     9500               800
Veritas Software               COM              923436109      661     8700 SH       SOLE                     8700
Verity Inc.                    COM              92343C106      213     3100 SH       SOLE                      500              2600
Viacom Inc Class B             COM              925524308     1039    24600 SH       SOLE                    24500               100
Viad Corp.                     COM              92552R109     1428    48400 SH       SOLE                    34700             13700
Visha Intertechnology          COM              928298108      809    34075 SH       SOLE                    34075
Vitesse Semiconductor          COM              928497106      504     5900 SH       SOLE                     5900
Vlassis Communications         COM              918866104      343     7800 SH       SOLE                     7800
Wachovia Corp.                 COM              929771103      778     9900 SH       SOLE                     9700               200
Waddell & Reed                 COM              930059100      537    24201 SH       SOLE                    24201
Wal-Mart Stores                COM              931142103    17831   374900 SH       SOLE                   370000              4900
Walgreen                       COM              931422109      292    11500 SH       SOLE                    11500
Warner-Lambert                 COM              934488107      763    11500 SH       SOLE                    11500
Waters Corp.                   COM              941848103      497     8200 SH       SOLE                     3800              4400
Watts Industries               COM              942749102      368    16900 SH       SOLE                    11000              5900
Wellpoint Health               COM              94973H108      479     8400 SH       SOLE                     8400
Wells Fargo & Co.              COM              949746101     2916    73600 SH       SOLE                    72700               900
Western Wireless Corp Cl A     COM              95988E204      457    10200 SH       SOLE                     3200              7000
Weyerhaeuser Corp.             COM              962166104     1026    17800 SH       SOLE                    17600               200
Whirlpool Corp.                COM              963320106      353     5400 SH       SOLE                     5300               100
Willamette Industries          COM              969133107      384     8900 SH       SOLE                     8700               200
Williams Cos.                  COM              969457100      696    18500 SH       SOLE                    18500
Wilmington Trust               COM              971807102      384     7900 SH       SOLE                     7900
Worthington Industries         COM              981811102     1744   102600 SH       SOLE                   102600
Xilinx Inc.                    COM              983919101     1507    23000 SH       SOLE                    23000
Xircom Inc.                    COM              983922105      260     6100 SH       SOLE                                       6100
Yellow Freight Systems         COM              985509108      202    12200 SH       SOLE                     2100             10100
York International             COM              986670107     1150    32000 SH       SOLE                    32000
Zale Corporation               COM              988858106     1084    28300 SH       SOLE                    21400              6900
Zions Bancorp                  COM              989701107      413     7500 SH       SOLE                     7500
</TABLE>


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