AMERICAN EXPRESS FINANCIAL ADVISORS
13F-E/A, 1999-03-31
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                       SECURITIES AND EXCHANGE COMMISSION                                                                         
                                   FORM 13F-E                                                                                     
                                                                                                                                  
                                                                                                                                  
Report for the Calendar Year or Quarter Ended:    12/31/98      AMENDMENT 00                                                      
                                                                                                                                  
                                                                                                                                  
Institutional Investment Manager:                                                                                                 
                                                                                                                                  
AMERICAN EXPRESS FINANCIAL CORPORATION                                                                                            
IDS TOWER-10                                                                                                                      
MINNEAPOLIS                                       MN            55440-0010                                                        
                                                                                                                                  
                                                                                                                                  
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION IN                                                  
THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND COMPLETE, AND I                                                          
UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL PARTS                                                   
OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT ALL                                                         
UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND COMPLETE AS                                                    
PREVIOUSLY SUBMITTED.                                                                                                             
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.                                                      
                                                                                                                                  
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Name, Title and Telephone Number of Person Submitting Report:                                                                     
                                                                                                                                  
    JOHN KNIGHT                    V.P. INVESTMENT ACCOUNTING   612-671-3618                                                      
                                                                                                                                  
                                                                                                                                  
Signature, Place and Date of Signing:                                                                                             
                                                                                                                                  
/s/ JOHN KNIGHT                    MINNEAPOLIS                  MN    12/31/98                                                    
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
Other Managers on Whose Behalf this Report is Filed:                                                                              
                                                                                                                                  
07 AMERICAN CENTURIAN LIFE                                                                                                        
01 AMERICAN EXPRESS COMPANY                                     028-00698                                                         
03 AMERICAN EXPRESS TRUST COMPANY                               028-01151                                                         
06 AMERICAN PARTNERS LIFE                                                                                                         
02 IDS ADVISORY GROUP INC.                                      028-02069                                                         
04 IDS CERTIFICATE COMPANY                                      028-00140                                                         
05 IDS LIFE INSURANCE COMPANY                                   028-00143                                                         
08 IDS LIFE OF NEW YORK                                                                                                           
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
                                                                                                                                  
<PAGE>      PAGE   2                                                                                                              
                                                           VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-      SOLE   SHARED    NONE
                                                                                                                                  
REPORT SUMMARY                  0 DATA RECORDS                   0            8 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED    
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