<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington DC 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: [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: King Investment Advisors, Inc.
Address: 1980 Post Oak Boulevard, Suite 2400
Houston, Texas 77056-3898
Form 13F File Number: 28-1717
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: Jane Lightfoot
Title: Compliance Assistant
Phone: (713)961-0462
Signature, Place, and Date of Signing:
Roger E. King Houston, Texas 5/5/99
- ------------------------------ -------------------- --------
Signature City, State Date
Report Type:
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 105
Form 13F Information Table Value Total: $585,947,000.
List of Other Included Managers: none
NONE
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<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5
COLUMN 6
COLUMN 7 COLUMN 8
- -------------------------------- -------- --------- -------- ---------------------- -----
- --- ------
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TITLE CUSIP VALUE SHARES / SH/ PUT/
INVSTMT
OTHER VOTING AUTHORITY
NAME OF ISSUER OF CLASS NUMBER (x$1000) PRINCIPAL AMT PRN CALL
DSCRETN
MANAGERS SOLE SHARED NONE
- -------------------------------- -------- --------- -------- ------------- --- ---- -----
- --- ------
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<S> <C> <C> <C> <C> <C> <C> <C>
<C>
<C> <C> <C>
AT&T Corp. Common 001957109 $8,124 101,789 X
101,789 0 0
AT&T New Lib Me ClA Common 001957208 $2,276 43,276 X
43,276 0 0
Abbott Laboratories Common 002824100 $1,255 26,800 X
26,800 0 0
Airborne Freight Common 009266107 $5,630 181,585 X
174,921 0 6,664
Airtouch Comm. Common 00949T100 $4,652 48,145 X
45,361 0 2,784
Allstate Corp. Common 020002101 $672 18,122 X
18,122 0 0
Alltel Corp. Common 020039103 $805 12,910 X
12,910 0 0
American Bankers Ins.Common 024456105 $1,966 37,800 X
37,800 0 0
American GreetingsA Common 026375105 $854 20,640 X
19,824 0 816
American Int'l GroupCommon 026874107 $206 4,968 X
4,968 0 0
COLUMN TOTAL $26,440 496,035
Astoria Financial Common 046265104 $23,016 460,329 X
417,476 0 42,853
Automatic Data Proc.Common 053015103 $2,742 66,270 X
66,270 0 0
Banc One Corp. Common 059438101 $7,859 142,732 X
95,048 0 47,684
Beckman Coulter Inc Common 075811109 $523 11,040 X
10,794 0 246
Block H & R Inc. Common 093671105 $2,583 54,520 X
54,520 0 0
BMC Software Inc. Common 055921100 $19,266 566,638 X
531,010 0 35,628
Boeing Company Common 097923105 $2,797 82,264 X
82,264 0 0
Boise Cascade Corp. Common 097383103 $514 15,950 X
15,950 0 0
CBS Corporation Common 12490K107 $3,155 77,280 X
53,328 0 23,952
CMP Media Inc. Cl A Common 125891101 $4,808 103,530 X
95,038 0 8,492
Cabletron Systems Common 126920107 $1,749 23,600 X
23,600 0 0
Cablevision Systems Common 12686C109 $24,528 330,895 X
303,852 0 27,043
Century CommunicationsCommon 156503104 $383 8,245 X
4,947 0 3,298
COLUMN TOTAL $93,923 1,943,293
Citigroup Common 172967101 $883 28,900 X
28,900
0 0
Clearnet Commun.A Common 184902104 $13,089 991,395 X
909,163 0 82,232
Coast Federal Lit. Certif 19034Q110 $1,919 323,145 X
310,097 0 13,048
Comcast Corp. A Sp Common 200300200 $6,552 104,107 X
98,354 0 5,753
Compaq Computer Common 204493100 $2,563 80,870 X
80,870 0 0
Commercial Federal Common 201647104 $6,109 263,465 X
205,050 0 58,415
Crown Cork & Seal Common 228255105 $8,821 308,820 X
270,669 0 38,151
Danaher Corp Common 235851102 $209 4,000 X
4,000 0 0
Delphi Automotive Common 247126105 $704 39,665 X
38,599 0 1,066
Diebold Incorp. Common 253651103 $953 39,700 X
37,840 0 1,860
Dime Bancorp,Inc. Common 25429Q102 $217 9,350 X
9,350 0 0
Disney Walt Co. Common 254687106 $3,665 117,740 X
117,740 0 0
Dow Chemical Co. Common 260543103 $1,001 10,745 X
10,745 0 0
DPL, Inc. Common 233293109 $452 27,400 X
27,400
0 0
COLUMN TOTAL $47,137 2,349,302
Duane Reade, Inc. Common 263578106 $227 8,150 X
8,150 0 0
Dura PharmaceuticalsCommon 266325109 $16,921 1,197,975 X
1,088,969 0 109,006
E4L Inc. Common 268452109 $301 35,975 X
34,105
0 1,870
Equifax Inc. Common 294429105 $426 12,400 X
12,400 0 0
First Data Corp. Common 319963104 $3,001 70,190 X
70,190 0 0
Fleet Financial Common 338915101 $2,396 63,670 X
63,670 0 0
Frontier Corp. Common 35906P105 $2,184 42,100 X
42,100 0 0
Gaylord Entertain. Common 367905106 $700 21,255 X
20,763 0 492
GATX Corporation Common 361448103 $850 25,795 X
22,887 0 2,908
General Electric Common 369604103 $4,817 43,540 X
43,540 0 0
General Motors Cl H Common 370442832 $1,886 37,400 X
37,400 0 0
Golden State BancorpCommon 381197102 $467 21,000 X
21,000 0 0
Golden St. Banc.LR Common 381197136 $1,198 247,275 X
202,641 0 44,634
Great Atlant&Pac Tea Common 390064103 $1,123 37,440 X
34,164 0 3,276
COLUMN TOTAL $36,497 1,864,165
Greenpoint FinancialCommon 395384100 $2,914 83,860 X
83,860 0 0
GTE Corp. Common 362320103 $4,621 76,383 X
76,383
0 0
Harley Davidson Common 412822108 $6,152 107,230 X
107,230 0 0
H J Heinz Co. Common 423074103 $254 5,360 X
5,360 0 0
Helen of Troy Ltd. Common G4388N106 $1,221 94,410 X
94,410 0 0
Hewlett-Packard Common 428236103 $1,472 21,701 X
21,701 0 0
Hilton Hotels Corp Common 432848109 $16,695 1,187,180 X
1,068,233
0 118,947
Honeywell Inc. Common 438506107 $3,243 42,775 X
42,775 0 0
Horace Mann Educat. Common 440327104 $400 17,260 X
14,547 0 2,713
IMAX Corp. Common 45245E109 $293 15,000 X
15,000 0 0
Information Res. Common 456905108 $183 28,350 X
26,210 0 2,140
Int'l Business Mach.Common 459200101 $2,743 15,477 X
15,477 0 0
IXC Communications Common 450713102 $25,591 563,500 X
512,006 0 51,494
Johnson & Johnson Common 478160104 $3,712 39,696 X
39,696 0 0
COLUMN TOTAL $69,494 2,298,182
Konin.Philips Elect Common 500472105 $18,202 220,795 X
200,918 0 19,877
Lehman Brothers Hol Common 524908100 $448 7,500 X
7,500 0 0
Lodgenet Entertain. Common 540211109 $91 13,800 X
13,680 0 120
Manpower, Inc. Wis. Common 56418H100 $500 21,409 X
21,409 0 0
Media General Cl A Common 584404107 $18,702 402,203 X
371,721 0 30,482
Mediaone Group Common 912889201 $23,315 367,529 X
331,423 0 36,106
MGIC Investment Common 552848103 $1,090 31,080 X
31,080 0 0
MONY Group Common 615337102 $11,444 460,062 X
416,802 0 43,260
Motorola Inc. Common 616880100 $249 3,400 X
3,400 0 0
Mylan Laboratories Common 628530107 $575 20,970 X
20,970 0 0
News Corp. LTD Common 652487703 $14,373 487,225 X
447,581 0 39,644
Nextel Communic. Common 65332V103 $40,217 1,098,070 X
1,001,654 0 96,416
Omnipoint Corp. Common 68212D102 $9,542 660,900 X
593,760 0 67,140
Owens Corning (New) Common 69073F103 $207 6,500 X
6,500 0 0
COLUMN TOTAL $138,955 3,801,443
Paxson Communic. Common 704231109 $1,380 161,190 X
159,714 0 1,476
Pepsico, Inc. Common 713448108 $2,252 57,475 X
57,475 0 0
Pixtech Inc. Common 72583K109 $75 30,000 X
30,000
0 0
Platinum Tech. Intl Common 72764T101 $22,927 899,090 X
832,567 0 66,523
Promus Hotel Corp. Common 74342P106 $6,283 172,715 X
161,434 0 11,281
Qwest Communic.Intl Common 749121109 $4,704 65,250 X
65,250 0 0
Reader's DigestAss. Common 755267101 $377 11,980 X
11,980 0 0
Reliastar Financial Common 75952U103 $14,573 341,885 X
307,865 0 34,020
Respironics Common 761030101 $8,329 631,620 X
556,716 0 74,904
Rite Aid Corp. Common 767754104 $641 25,630 X
25,398 0 232
Rural Cellular CL A Common 781904107 $596 44,970 X
42,302 0 2,668
Schlumberger Ltd. Common 806857108 $2,598 43,170 X
43,170 0 0
Sears Roebuck Common 812387108 $2,713 60,028 X
60,028 0 0
Smithkline BeechamA Common 832378301 $5,337 74,640 X
74,640 0 0
COLUMN TOTAL $72,785 2,619,643
St. Paul Bancorp Common 792848103 $6,409 295,943 X
288,444 0 7,499
St. Jude Medical Common 798049103 $24,972 1,024,505 X
937,041 0 87,464
Summit Bancorp Common 866005101 $843 21,615 X
17,009 0 4,606
TECO Energy, Inc. Common 872375100 $217 10,925 X
10,925 0 0
Telephone&Data Sys. Common 879433100 $19,343 343,106 X
312,760 0 30,346
Texas Instruments Common 882508104 $899 90,581 X
90,581 0 0
Time Warner, Inc. Common 887315109 $707 9,980 X
9,638 0 342
Universal Health B Common 913903100 $296 6,855 X
6,513 0 342
US Cellular Corp Common 911684108 $1,136 25,820 X
23,002 0 2,818
Washington Mutual Common 939322103 $24,348 595,672 X
550,001 0 45,671
Western Wireless Common 95988E204 $6,429 166,365 X
154,232 0 12,133
Young Broadcasting Common 987434107 $15,117 331,334 X
293,552 0 37,782
COLUMN TOTAL $100,716 2,922,701
COLUMN TOTALS $585,947 18,294,764
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