CRAWFORD INVESTMENT COUNSEL INC
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  [     ];  Amedment Number:
This Amendment (Check only one.):  [     ] is a restatment.
					[     ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:			Crawford Investment Counsel, Inc.
Address:			Suite 980
				100 Galleria Parkway
				Atlanta, Georgia  30339

13F File Number:		28-2354

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:		Patricia C. Howard
Title:		Operations/Client Services
Phone:		770-859-0045
Signature, Place, and Date of Signing:

	Patricia C. Howard	Atlanta, Georgia	November 11, 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>

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:		0

Form 13F Information Table Entry Total:		209

Form 13F Information Table Value Total:		$645,118


List of Other Included Managers:

	No.	13F File Number	Name


<PAGE>

<TABLE>
CRAWFORD INVESTMENT COUNSEL, INC.
        FORM 13F
   September 30, 1999


Voting Authority

                                              Value  Shares/Sh/  Put/  Invstmt
Other
     Name of Issuer     Title of c   CUSIP   (x$1000)Prn AmtPrn  Call
DscretnManager Sole  Shared  None
<S>                     <C>       <C>        <C>     <C>    <C> <C>    <C>
<C>    <C>    <C>    <C>
ABBOTT LABS             COM       002824100     15186 413726SH         Sole
ACE LTD ORD             COM       G0070K103       362  21400SH         Sole
AIR PRODS & CHEMS INC   COM       009158106      2326  79519SH         Sole
ALBERTSONS INC          COM       013104104       554  14000SH         Sole
ALLIEDSIGNAL INC        COM       019512102       348   5800SH         Sole
ALLTEL CORP             COM       020039103      4803  65805SH         Sole
AMER BUSINESS PRODS     COM       024763104       470  29856SH         Sole
AMER HOME PROD          COM       026609107      1799  43359SH         Sole
AMERICAN EXPRESS        COM       025816109      1138   8418SH         Sole
AMERICAN GENERAL        COM       026351106      6189  97830SH         Sole
AMERICAN INTL GROUP     COM       026874107      4286  46888SH         Sole
AMERITECH CORP          COM       030954101       226   3386SH         Sole
AMGEN INC               COM       031162100       827  10150SH         Sole
ANALOG DEVICES INC      COM       032654105       936  18266SH         Sole
AT&T CORP               COM       001957109       423   9707SH         Sole
AT&T CORP - LIB GRP A   COM       001957208       225   6020SH         Sole
ATLANTIC RICHFIELD      COM       048825103       625   7050SH         Sole
AUTOMATIC DATA PROCESS  COM       053015103     15930 354640SH         Sole
BANK NEW YORK INC       COM       064057102       227   6800SH         Sole
BANK OF AMERICA CORP    COM       060505104     10469 185883SH         Sole
BANK ONE CORP           COM       06423A103      5097 146504SH         Sole
BARRICK GOLD CORP       COM       067901108       468  21500SH         Sole
BAXTER INTL             COM       071813109       615  10200SH         Sole
BECTON DICKINSON & CO   COM       075887109      2009  71600SH         Sole
BELL ATLANTIC           COM       077853109      1274  18946SH         Sole
BELLSOUTH CORP          COM       079860102      3985  88490SH         Sole
BEMIS INC               COM       081437105       589  17400SH         Sole
BESTFOODS               COM       08658U101       308   6338SH         Sole
BLACK & DECKER CORP     COM       091797100      2524  55250SH         Sole
BOSTON SCIENTIFIC       COM       101137107      1032  41700SH         Sole
BP AMOCO PLC ADR        COM       055622104      2031  18757SH         Sole
BRISTOL-MYERS           COM       110122108      3409  50187SH         Sole
BURLINGTON NRTHN SANTA  COM       12189T104       767  27894SH         Sole
CAPSTEAD MORTGAGE       COM       14067E100        68  17292SH         Sole
CARDINAL HEALTH INC     COM       14149Y108       632  11600SH         Sole
CARLISLE COS INC        COM       142339100     14738 376703SH         Sole
CAROLINA PWR & LT       COM       144141108       534  15870SH         Sole
CCB FINL CORP           COM       124875105       475  11400SH         Sole
CEDAR FAIR LP           COM       150185106      8934 431403SH         Sole
CENTURA BKS INC         COM       15640T100       439  10600SH         Sole
CHARTER ONE FINL INC    COM       160903100       534  23100SH         Sole
CHASE MANHATTAN         COM       16161A108      1710  22640SH         Sole
CHEVRON CORP            COM       166751107       888   9937SH         Sole
CHUBB CORP              COM       171232101       776  15628SH         Sole
CINCINNATI FINL         COM       172062101     13677 365634SH         Sole
CISCO SYS INC           COM       17275R102       615   8834SH         Sole
CITIGROUP INC           COM       172967101       483  10968SH         Sole
CITIZENS BKG CORP MICH  COM       174420109       439  16800SH         Sole
CLOROX CO               COM       189054109       796  20800SH         Sole
COCA COLA CO            COM       191216100      9750 201813SH         Sole
COLGATE PALMOLIVE       COM       194162103     11393 243175SH         Sole
COMERICA INC            COM       200340107      1316  26000SH         Sole
COMPUTER SCIENCES CORP  COM       205363104       983  14000SH         Sole
CONSOLIDATED EDISON     COM       209115104       246   5929SH         Sole
COOPER INDS INC         COM       216669101       692  14800SH         Sole
COVANCE INC             COM       222816100       440  45400SH         Sole
COX RADIO INC CL A      COM       224051102       376   6316SH         Sole
CULLEN FROST BANKERS    COM       229899109      1695  67800SH         Sole
DAYTON HUDSON CORP      COM       239753106      1110  18480SH         Sole
DONNELLEY R R & SONS    COM       257867101       624  21600SH         Sole
DU PONT                 COM       263534109      1503  24847SH         Sole
DUKE ENERGY CORP        COM       264399106       917  16626SH         Sole
ECOLAB INC              COM       278865100       628  18400SH         Sole
EL PASO ENERGY CP       COM       283905107      2314  57500SH         Sole
EMERSON ELEC CO         COM       291011104      5322  85622SH         Sole
ENGELHARD CORP          COM       292845104      9062 496530SH         Sole
EQUIFAX INC             COM       294429105       227   8110SH         Sole
EQUITY RES PPTYS        COM       29476L107       281   6625SH         Sole
ERICSSON L M TEL ADR CL COM       294821400      1088  34800SH         Sole
EXPEDITORS INTL WASH    COM       302130109      6359 198136SH         Sole
EXXON CORP              COM       302290101     14244 187419SH         Sole
FAMILY DLR STORES INC   COM       307000109     253041202317SH         Sole
FANNIE MAE              COM       313586109     12961 204967SH         Sole
FDX CORP                COM       31304N107      2099  54000SH         Sole
FEDERAL SIGNAL CORP     COM       313855108       731  36800SH         Sole
FIFTH THIRD BANCORP     COM       316773100      7235 116731SH         Sole
FIRST DATA CORP         COM       319963104      2784  63448SH         Sole
FIRST STERLING BANK     COM       337094106       481  52015SH         Sole
FIRST UNION CORP        COM       337358105      1594  44740SH         Sole
FIRSTAR CORP            COM       33763V109      7414 289315SH         Sole
FLOWERS INDS INC        COM       343496105      2010 148200SH         Sole
FREDDIE MAC             COM       313400301       291   5605SH         Sole
GANNETT INC             COM       364730101      3484  50354SH         Sole
GATX CORP               COM       361448103      1205  38800SH         Sole
GENERAL ELEC CO         COM       369604103     22470 189169SH         Sole
GENUINE PARTS CO        COM       372460105       557  20968SH         Sole
GILLETTE CO             COM       375766102       736  21592SH         Sole
GOODYEAR TIRE & RUBR    COM       382550101       655  13600SH         Sole
GREAT LAKES CHEM CORP   COM       390568103      1218  32000SH         Sole
GROUP 1 AUTOMOTIVE INC  COM       398051094       888  48500SH         Sole
GTE CORP                COM       362320103      1034  13469SH         Sole
HALLIBURTON CO          COM       406216101       672  16400SH         Sole
HARLAND JOHN H CO       COM       412693103      2643 135980SH         Sole
HASBRO INC              COM       418056107       650  30217SH         Sole
HEINZ H J CO            COM       423074103      9535 221291SH         Sole
HERSHEY FOODS CORP      COM       427866108       204   4200SH         Sole
HERTZ CORP CL A         COM       428040109       691  15700SH         Sole
HEWLETT PACKARD         COM       428236103     10834 121665SH         Sole
HOME DEPOT INC          COM       437076102     10623 154651SH         Sole
HOMESTAKE MNG CO        COM       437614100       729  79399SH         Sole
HOUSEHOLD INTL INC      COM       441815107       578  14400SH         Sole
HUBBELL INC CL B        COM       443510201      1166  36580SH         Sole
ILLINOIS TOOL WKS       COM       452308109       626   8400SH         Sole
IMS HEALTH INC          COM       449934108      1063  46600SH         Sole
INGERSOLL RAND CO       COM       456866102       604  11000SH         Sole
INTEL CORP              COM       458140100      1589  21234SH         Sole
INTL BUSINESS MACHINES  COM       459200101      2853  23625SH         Sole
IRT PPTY CO             COM       450058102      3113 345865SH         Sole
JEFFERSON PILOT         COM       475070108       435   6761SH         Sole
JOHNSON & JOHNSON       COM       478160104      9407 101146SH         Sole
JOHNSON CTLS INC        COM       478366107       849  12800SH         Sole
KAYDON CORP             COM       486587108       622  25000SH         Sole
KIMBERLY CLARK          COM       494368103     15817 296245SH         Sole
LAUDER ESTEE COS INC CL COM       518439104      1566  40100SH         Sole
LILLY ELI & CO          COM       532457108      1363  20722SH         Sole
LUCENT TECHNOLOGIES INC COM       549463107      2238  34484SH         Sole
M & T BK CORP           COM       55261F104       711   1550SH         Sole
MANAGED HI YLD PLUS FD  COM       561911108       123  10800SH         Sole
MANUFACTURED HOME CMNT  COM       564682102     11052 471695SH         Sole
MARSH & MCLENNAN        COM       571748102      2849  41326SH         Sole
MASCO CORP              COM       574599106     21189 684955SH         Sole
MBIA INC                COM       55262C100       858  18400SH         Sole
MCCLATCHY CO CL A       COM       579489105      2744  76750SH         Sole
MCCORMICK & CO INC NON VCOM       579780206      2344  70900SH         Sole
MCDONALDS CORP          COM       580135101       452  10281SH         Sole
MCI WORLDCOM INC        COM       55268B106      2755  38329SH         Sole
MERCANTILE BANKSHARES   COM       587405101      1103  35650SH         Sole
MERCK & CO INC          COM       589331107     15025 229439SH         Sole
MICROSOFT CORP          COM       594918104      3340  36905SH         Sole
MINNESOTA MNG & MFG CO  COM       604059105       668   6956SH         Sole
MOBIL CORP              COM       607059102      1681  16711SH         Sole
MOLEX INC               COM       608554101       644  17710SH         Sole
MOLEX INC CL A          COM       608554200       411  12700SH         Sole
MONSANTO CO             COM       611662107       213   5958SH         Sole
MORGAN JP & CO          COM       616880100       275   2406SH         Sole
MOTOROLA INC            COM       620076109       473   5374SH         Sole
NATIONAL FUEL & GAS     COM       636180101       387   8200SH         Sole
NOBLE DRILLING CORP     COM       655042109       333  15200SH         Sole
NORFOLK SOUTHERN        COM       655844108       371  15156SH         Sole
NUCOR CORP              COM       670346105      2126  44650SH         Sole
OMNICARE INC            COM       681904108      4846 505543SH         Sole
PENNEY J C INC          COM       708160106       435  12623SH         Sole
PENNZOIL CO             COM       709323109       202  16000SH         Sole
PEPSICO INC             COM       713448108       296   9605SH         Sole
PFIZER INC              COM       717081103     11153 311315SH         Sole
PHARMACIA & UPJOHN INC  COM       716941109      1374  27666SH         Sole
PHILIP MORRIS COS       COM       718154107      5939 179020SH         Sole
PIMCO ADVISORS HOLDINGS COM       69338P102     11095 349032SH         Sole
PITNEY BOWES INC        COM       724479100      2310  40956SH         Sole
PLUM CREEK TIMBER       COM       729251108       690  22000SH         Sole
PROCTER & GAMBLE        COM       742718109     10134 107060SH         Sole
PROGRESSIVE CORP        COM       743315103       425   5202SH         Sole
PUBLIC SVC ENTERPRISE   COM       744573106       275   7128SH         Sole
REGIONS FINL CORP       COM       758940100      1060  35340SH         Sole
REINSURANCE GROUP       COM       759351109      1372  53427SH         Sole
RELIASTAR FINANCIAL CORPCOM       75952U103       492  14800SH         Sole
REPLIGEN CORP           COM       759916109        37  12500SH         Sole
REPSOL S A  ADR         COM       76026T205       473  23700SH         Sole
RHONE POULENC S A  ADR ACOM       762426609       456   8900SH         Sole
RIVIANA FOODS INC       COM       769536103       270  14000SH         Sole
ROHM & HAAS CO          COM       775371107       686  19000SH         Sole
ROLLINS INC             COM       775711104       638  41300SH         Sole
ROYAL DUTCH PETE   NY RECOM       780257804      1030  17308SH         Sole
RPM INC                 COM       749685103      4477 367315SH         Sole
S & T BANCORP INC       COM       783859101       546  24000SH         Sole
SAFECO CORP             COM       786429100      5229 186745SH         Sole
SARA LEE CORP           COM       803111103      9923 420021SH         Sole
SBC COMMUNICATIONS INC  COM       78387G103     17007 333120SH         Sole
SCHERING PLOUGH         COM       806605101       965  22080SH         Sole
SCHLUMBERGER LTD        COM       806857108      1353  21705SH         Sole
SCRIPPS E W CO CL A     COM       811054204      3449  70200SH         Sole
SELECTIVE INSURANCE     COM       816300107       276  14600SH         Sole
SERVICEMASTER COMPANY   COM       81760N109     14994 943164SH         Sole
SONOCO PRODS CO         COM       835495102       479  21000SH         Sole
SOUTHERN CO             COM       842587107       229   8876SH         Sole
SOUTHWEST AIRLS CO      COM       844741108      1908 125600SH         Sole
SPRINT CORP             COM       852061100      1562  28800SH         Sole
SPRINT CORP PCS SER 1   COM       852061506       518   6950SH         Sole
STATE ST BOSTON CORP    COM       857477103       685  10600SH         Sole
STILLWATER MNG CO       COM       86074Q102       473  17600SH         Sole
SUNTRUST BANKS          COM       867914103      1579  23992SH         Sole
SWIFT TRANSN CO         COM       870756103       618  31400SH         Sole
TECO ENERGY INC         COM       872375100       213  10125SH         Sole
TELEFLEX INC            COM       879369106      6888 174730SH         Sole
TRANSCEND SRVC          COM       893929109        10  10900SH         Sole
TRANSOCEAN OFFSHORE     COM       893817106      1050  34300SH         Sole
TRUSTMARK CORP          COM       898402102       319  14172SH         Sole
TYCO INTL LTD           COM       902124106       261   2861SH         Sole
U S TRUST CORP          COM       91288L105     19500 242560SH         Sole
UNILEVER N V NEW YORK   COM       904784501       202   2961SH         Sole
UNITED BANKSHS INC      COM       909907107       341  14020SH         Sole
UNITED DOMINION RLTYTR  COM       910197102       864  77270SH         Sole
UNITED TECHNOL          COM       913017109      1515  25540SH         Sole
UNUM CORP               COM       903192102       617  20960SH         Sole
US BANCORP              COM       902973106      1007  33345SH         Sole
UST INC                 COM       902911106       795  26350SH         Sole
V F CORP                COM       918204108      1742  56200SH         Sole
VALLEY NATL BANCORP     COM       919794107       421  16917SH         Sole
VODAFONE AIRTOUCH PLC ADCOM       92857t107       243   1020SH         Sole
WACHOVIA CORP           COM       929771103      5620  71441SH         Sole
WAL MART STORES         COM       931142103     11923 250145SH         Sole
WARNER LAMBERT          COM       934488107      5108  76960SH         Sole
WASHINGTON FED INC      COM       938824109       624  26925SH         Sole
WAUSAU-MOSINEE PAPER MLSCOM       943315101       555  45800SH         Sole
WERNER ENTERPRISES INC  COM       950755108       960  54487SH         Sole
WILLAMETTE INDS INC     COM       969133107       345   8000SH         Sole
WORTHINGTON INDS INC    COM       981811102      4665 274385SH         Sole
XEROX CORP              COM       984121103       554  13200SH         Sole
YOUNG & RUBICAM INC     COM       987425105      1307  29700SH         Sole
REPORT SUMMARY          209 DATA RECORDS       645118       0 OTHER MANAGERS ON
WHOSE BEHALF REPORT IS FILED

</TABLE>


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