SCHMEIDLER A R & CO INC
13F-HR, 1999-05-13
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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:	March 31, 
1999

Check here if Amendment [   ]; Amendment Number:
This Amendment (Check only one.):  [    ]  is a restatement
				   [     ]  adds a new holdings 
entries.

Institutional Investment Manager Filing this Report:

Name:		A.R. Schmeidler & Co., Inc.
Address:		555 Fifth Avenue
			9th Floor
			New York, NY 10017

13F File Number:	








The institutional investment manger 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:	Peter G. Kandel
Title:	Vice President 
Phone:	212-687-9800
Signature, Place, and Date of  Signing:

Peter G. Kandel	New York, New York	May 13, 1999


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>

<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>
Inco Ltd Cv                    CONV             453258AH8     1526  1715000 PRN      SOLE                                    1715000
Alabama Pwr 7.375%             PFD              010383206      584    22800 SH       SOLE                                      22800
Armstrong World Ind 7.45% Pfd  PFD              042476606      868    34700 SH       SOLE                                      34700
Comsat Capital Pfd A           PFD              205930209     1243    49600 SH       SOLE                                      49600
Hartford Capital 7.70% Cum Pfd PFD              416315208     1104    43400 SH       SOLE                                      43400
Time Warner Capital I 8.875% P PFD              88731g204      728    27900 SH       SOLE                                      27900
Aetna Inc 6.25% Cv Pfd C                        008117202     5757    76126 SH       SOLE                                      76126
Houston Ind. 7.0% Conv. Pfd                     442161204      946     7850 SH       SOLE                                       7850
Unisys Corp $3.75 Cv Pfd Ser A                  909214207     5679   109484 SH       SOLE                                     109484
A T & T Corp                   COM              001957109     3657    45817 SH       SOLE                                      45817
ASM Lithography Holding        COM              N07059111     2313    51400 SH       SOLE                                      51400
Abbott Laboratories            COM              002824100     5565   118870 SH       SOLE                                     118870
Advanced Micro Devices Inc     COM              007903107      421    27190 SH       SOLE                                      27190
AirTouch Communications        COM              00949T100      414     4284 SH       SOLE                                       4284
Allegheny Energy Inc           COM              017361106     1282    43450 SH       SOLE                                      43450
Alliant Techsystems Inc        COM              018804104     3490    44925 SH       SOLE                                      44925
America Online                 COM              02364J104      318     2160 SH       SOLE                                       2160
American Electric Power Inc    COM              025537101     1072    27000 SH       SOLE                                      27000
American Home Products Corp    COM              026609107     1904    29187 SH       SOLE                                      29187
American Int'l Group Inc       COM              026874107      527     4365 SH       SOLE                                       4365
Ameritech Corporation          COM              030954101      998    17325 SH       SOLE                                      17325
Amgen Inc                      COM              031162100      621     8300 SH       SOLE                                       8300
Anheuser Busch Cos Inc         COM              035229103      248     3260 SH       SOLE                                       3260
Applied Materials Inc          COM              038222105      796    12900 SH       SOLE                                      12900
Asyst Technologies Inc         COM              04648X107     4850   352695 SH       SOLE                                     352695
Atlantic Richfield Co          COM              048825103     6375    87184 SH       SOLE                                      87184
BB&T Corp.                     COM              054937107      564    15580 SH       SOLE                                      15580
BP Amoco PLC Sponsored ADR     COM              055622104      502     4975 SH       SOLE                                       4975
Bancwest Corp.                 COM              059790105      599    14100 SH       SOLE                                      14100
Bank of New York Inc           COM              064057102     1434    39900 SH       SOLE                                      39900
Bankamerica Corp               COM              066050105      213     3019 SH       SOLE                                       3019
Barnes & Noble Inc             COM              067774109     6388   198835 SH       SOLE                                     198835
Baxter International Inc       COM              071813109      663    10050 SH       SOLE                                      10050
Bell Atlantic Corp             COM              077853109     2220    42950 SH       SOLE                                      42950
BellSouth Corp                 COM              079860102      816    20368 SH       SOLE                                      20368
Berkshire Hathaway Inc Class A COM              10382K102      714       10 SH       SOLE                                         10
Bristol Myers Squibb Co        COM              110122108     5049    78730 SH       SOLE                                      78730
Burlington Northern Santa Fe C COM              12189T104     2999    91215 SH       SOLE                                      91215
Canadian National Railroad     COM              136375102     2573    46250 SH       SOLE                                      46250
Chase Manhattan Corp           COM              16161A108      831    10208 SH       SOLE                                      10208
Cisco Systems Inc              COM              17275R102      529     4825 SH       SOLE                                       4825
Citigroup Inc                  COM              172967101     1250    19577 SH       SOLE                                      19577
Coca Cola Co                   COM              191216100      647    10543 SH       SOLE                                      10543
Consolidated Stores Corp       COM              210149100     1216    40100 SH       SOLE                                      40100
Cree Research Inc              COM              225447101      859    18300 SH       SOLE                                      18300
Dayton Hudson Corp             COM              239753106      560     8400 SH       SOLE                                       8400
Deutsche Telekom ADR           COM              251566105      226     5600 SH       SOLE                                       5600
Dun & Bradstreet Corp          COM              26483B106     3569   100190 SH       SOLE                                     100190
Dupont Photomasks Inc          COM              26613X101     3949    99655 SH       SOLE                                      99655
E I Dupont De Nemours & Co     COM              263534109      506     8716 SH       SOLE                                       8716
EMC Corp-Mass                  COM              268648102      607     4750 SH       SOLE                                       4750
El Paso Energy Corp            COM              283905107     7438   227544 SH       SOLE                                     227544
Equity Residential Property Tr COM              29476l107      403     9772 SH       SOLE                                       9772
Exxon Corp                     COM              302290101      445     6300 SH       SOLE                                       6300
Federal Natl Mtge Assn         COM              313586109     1674    24170 SH       SOLE                                      24170
First Data Corp                COM              319963104      580    13564 SH       SOLE                                      13564
First Union Corp               COM              337358105      771    14432 SH       SOLE                                      14432
Firstar Corp                   COM              33761C103      269     3000 SH       SOLE                                       3000
Fleet Financial Group Inc      COM              338915101     3660    97266 SH       SOLE                                      97266
Flowers Inds. Inc.             COM              343496105      315    12800 SH       SOLE                                      12800
Fred Meyer Inc. Holding        COM              592907109      430     7300 SH       SOLE                                       7300
Frontier Corp                  COM              35906P105     1038    20000 SH       SOLE                                      20000
GTE Corp                       COM              362320103     5384    88989 SH       SOLE                                      88989
General Dynamics Corp          COM              369550108     6154    95780 SH       SOLE                                      95780
General Electric Co            COM              369604103     3382    30568 SH       SOLE                                      30568
General Mills Inc              COM              370334104      597     7900 SH       SOLE                                       7900
General Motors Class H New     COM              370442832      899    17820 SH       SOLE                                      17820
General Motors Corp            COM              370442105     2084    23950 SH       SOLE                                      23950
Gillette Co                    COM              375766102      385     6480 SH       SOLE                                       6480
Glaxo Plc Sponsored ADR        COM              37733W105     4894    73120 SH       SOLE                                      73120
H J Heinz Co                   COM              423074103      213     4500 SH       SOLE                                       4500
Haliburton Company             COM              406216101      237     6144 SH       SOLE                                       6144
Hartford Financial Services Gr COM              416515104     5048    88850 SH       SOLE                                      88850
Hartford Life Inc.             COM              416592103      391     7100 SH       SOLE                                       7100
Home Depot Inc                 COM              437076102      299     4798 SH       SOLE                                       4798
IDACorp Inc Holding Co         COM              451107106     2115    71850 SH       SOLE                                      71850
IMS Health Inc.                COM              449934108      997    30100 SH       SOLE                                      30100
Intel Corp                     COM              458140100     2326    19570 SH       SOLE                                      19570
International Paper Co         COM              460146103     1306    30952 SH       SOLE                                      30952
Intl Business Machines Corp    COM              459200101     6802    38377 SH       SOLE                                      38377
J P Morgan & Co                COM              616880100     5310    43037 SH       SOLE                                      43037
Johnson & Johnson              COM              478160104     2109    22551 SH       SOLE                                      22551
KLA-Tencor Corp                COM              482480100     4247    87450 SH       SOLE                                      87450
Keane Inc.                     COM              486665102     2394   112315 SH       SOLE                                     112315
Kimberly-Clark Corp            COM              494368103     1354    28252 SH       SOLE                                      28252
LL & E Royalty Trust UBI       COM              502003106      175    63800 SH       SOLE                                      63800
LSI Logic Corp                 COM              502161102      572    18350 SH       SOLE                                      18350
LTX Corp                       COM              502392103      250    52000 SH       SOLE                                      52000
Lockheed Martin Corp.          COM              539830109      457    12100 SH       SOLE                                      12100
Lucent Technologies Inc        COM              549463107     1983    18358 SH       SOLE                                      18358
MRV Communication              COM              553477100      244    40400 SH       SOLE                                      40400
May Department Stores Co       COM              577778103      224     5727 SH       SOLE                                       5727
Mc Donalds Corp                COM              580135101      449     9900 SH       SOLE                                       9900
MediaOne                       COM              58440j104     4030    63530 SH       SOLE                                      63530
Mellon Bank Corp               COM              585509102     6749    95900 SH       SOLE                                      95900
Merck & Co Inc                 COM              589331107     3277    40900 SH       SOLE                                      40900
Microsoft Corp                 COM              594918104      479     5350 SH       SOLE                                       5350
Monsanto Company               COM              611662107      533    11600 SH       SOLE                                      11600
NVIDIA Corp                    COM              67066G104     1276    60400 SH       SOLE                                      60400
Newsport News Shipbuilding     COM              652228107      635    20050 SH       SOLE                                      20050
Nokia Corp.                    COM              654902204     5821    37375 SH       SOLE                                      37375
Novartis AG-Sponsored ADR      COM              66987V109     1022    12600 SH       SOLE                                      12600
Novell Inc                     COM              670006105     5686   225750 SH       SOLE                                     225750
Novellus Systems Inc.          COM              670008101     2624    47605 SH       SOLE                                      47605
Oracle Corporation             COM              68389X105      268    10153 SH       SOLE                                      10153
Pepsico Inc                    COM              713448108      263     6700 SH       SOLE                                       6700
Pfizer Inc                     COM              717081103      228     1644 SH       SOLE                                       1644
Procter & Gamble Co            COM              742718109      411     4200 SH       SOLE                                       4200
Quaker Oats                    COM              747402105      286     4600 SH       SOLE                                       4600
Raytheon Co Class A            COM              755111309      239     4144 SH       SOLE                                       4144
Raytheon Co Class B            COM              755111408      545     9300 SH       SOLE                                       9300
Reynolds Metal Co              COM              761763101      338     7000 SH       SOLE                                       7000
Royal Dutch Pete NY 5 Gld      COM              780257705      695    13372 SH       SOLE                                      13372
SBC Communications Inc         COM              78387G103      376     7961 SH       SOLE                                       7961
Sara Lee Corp                  COM              803111103      441    17838 SH       SOLE                                      17838
Schering Plough Corp           COM              806605101      983    17800 SH       SOLE                                      17800
Smurfit-Stone Container Corp   COM              832727101     1419    73450 SH       SOLE                                      73450
Speedfam IOEC Inc              COM              847705100     1640   136650 SH       SOLE                                     136650
State Street Corp.             COM              857477103      696     8460 SH       SOLE                                       8460
Sun Microsystems Inc           COM              866810104      725     5800 SH       SOLE                                       5800
TCA Cable TV Inc               COM              872241104     1629    37450 SH       SOLE                                      37450
Teco Energy Inc                COM              872375100      226    11383 SH       SOLE                                      11383
Texas Instruments Inc          COM              882508104     2253    22700 SH       SOLE                                      22700
Time Warner Inc                COM              887315109      885    12500 SH       SOLE                                      12500
U S Bancorp Inc Del            COM              902973106      942    27647 SH       SOLE                                      27647
Unilever NV New York Shs       COM              904784501     1236    18610 SH       SOLE                                      18610
Union Pacific Corp             COM              907818108     3482    65166 SH       SOLE                                      65166
Union Planters Corp            COM              908068109      220     5000 SH       SOLE                                       5000
Unisys Corp                    COM              909214108     2049    74016 SH       SOLE                                      74016
WPS Resources Corp             COM              92931b106      553    18750 SH       SOLE                                      18750
Walt Disney Co                 COM              254687106      409    13150 SH       SOLE                                      13150
Warner-Lambert Co              COM              934488107      583     8800 SH       SOLE                                       8800
Wells Fargo & Co               COM              949746101     1592    45400 SH       SOLE                                      45400
</TABLE>


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