ZELIFF WALLACE JACKSON INVESTMENT COUNSEL INC
13F-HR, 1999-05-14
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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 her if Amendment [  ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement
                                  [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     Zeliff Wallace Jackson Investment Counsel
Address:  1100 Peachtree Street, N.E., Suite 2050
          Atlanta, GA  30309

13F File Number:  28-2376

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:   Charles J. Wallace, Jr.
Title:  Executive Vice President
Phone:  404-873-2211
Signature, Place, and Date of Signing:

        Charles J. Wallace, Jr.    Atlanta, Georgia     May 14, 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:   156                                   
                                                                                
FORM 13F INFORMATION TABLE VALUE TOTAL:   $304,720,000                          
                                                                                
                                                                                
                                                                                
LIST OF OTHER INCLUDED MANAGERS:                                                
                                                                                
NO.   13F FILE NUMBER      NAME                                                 
<PAGE>
<TABLE>                        <C>                                    <C>
                                                     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  
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
                                                                                                                                    
3 COM CORP                     COM              885535104     1215    52115 SH       SOLE                     1500        0    50615
3 COM CORP                     COM              885535104      265    11360 SH       OTHER                       0    11360        0
A T & T CORP                   COM              001957109      578    10857 SH       SOLE                        0        0    10857
ABBOTT LABS                    COM              002824100    11752   251047 SH       SOLE                      600        0   250447
ABBOTT LABS                    COM              002824100      759    16210 SH       OTHER                       0    16210        0
AIR EXPRESS INTERNATIONAL CORP COM              009104100     2294   151699 SH       SOLE                     3400        0   148299
AIR EXPRESS INTERNATIONAL CORP COM              009104100      221    14600 SH       OTHER                       0    14600        0
ALLIED SIGNAL INC              COM              019512102      216     4400 SH       SOLE                        0        0     4400
ALLTEL CORP                    COM              020039103     2464    39500 SH       SOLE                        0        0    39500
AMERICAN HOME PRODUCTS CORP    COM              026609107     9097   139410 SH       SOLE                     2100        0   137310
AMERICAN HOME PRODUCTS CORP    COM              026609107     1020    15630 SH       OTHER                       0    15630        0
AMERICAN INTERNATIONAL GROUP I COM              026874107      547     4532 SH       SOLE                        0        0     4532
AMGEN INC                      COM              031162100      280     3740 SH       SOLE                        0        0     3740
ANHEUSER BUSCH COMPANIES INC   COM              035229103      606     7958 SH       SOLE                        0        0     7958
AUTOMATIC DATA PROCESSING      COM              053015103      485    11720 SH       SOLE                        0        0    11720
BANKAMERICA CORP               COM              06605F102      597     8450 SH       SOLE                        0        0     8450
BECTON DICKINSON & CO          COM              075887109     5526   144245 SH       SOLE                     2400        0   141845
BECTON DICKINSON & CO          COM              075887109      853    22255 SH       OTHER                       0    22255        0
BELLSOUTH CORP                 COM              079860102      640    15976 SH       SOLE                        0        0    15976
BP AMOCO ADS                   COM              055622104      378     3746 SH       SOLE                        0        0     3746
BRISTOL MYERS SQUIBB CO        COM              110122108     1284    20030 SH       SOLE                        0        0    20030
C C B FINANCIAL CORP           COM              124875105     6348   117416 SH       SOLE                     1600        0   115816
C C B FINANCIAL CORP           COM              124875105      512     9465 SH       OTHER                       0     9465        0
C N F TRANSPORTATION INC.      COM              12612W104     1935    51184 SH       SOLE                      200        0    50984
C N F TRANSPORTATION INC.      COM              12612W104      417    11040 SH       OTHER                       0    11040        0
CADMUS COMMUNICATIONS CORP     COM              127587103     2184   151901 SH       SOLE                     4000        0   147901
CADMUS COMMUNICATIONS CORP     COM              127587103      206    14360 SH       OTHER                       0    14360        0
CARAUSTAR INDUSTRIES INC       COM              140909102     1835    79789 SH       SOLE                     2000        0    77789
CARAUSTAR INDUSTRIES INC       COM              140909102      210     9150 SH       OTHER                       0     9150        0
CERIDIAN CORP                  COM              15677T106     8382   229260 SH       SOLE                     4200        0   225060
CERIDIAN CORP                  COM              15677T106     1115    30500 SH       OTHER                       0    30500        0
CHECKFREE HOLDINGS CORP        COM              162816102      319     7500 SH       SOLE                        0        0     7500
CHUBB CORP                     COM              171232101     6304   107647 SH       SOLE                      800        0   106847
CHUBB CORP                     COM              171232101      836    14280 SH       OTHER                       0    14280        0
CINCINNATI BELL INC            COM              171870108     3963   176605 SH       SOLE                     3900        0   172705
CINCINNATI BELL INC            COM              171870108      673    29995 SH       OTHER                       0    29995        0
COCA-COLA COMPANY              COM              191216100    26172   426425 SH       SOLE                      500        0   425925
COCA-COLA COMPANY              COM              191216100      851    13869 SH       OTHER                       0    13869        0
COMERICA INC                   COM              200340107      919    14720 SH       SOLE                        0        0    14720
COMPUTER TASK GROUP INC        COM              205477102     2921   136665 SH       SOLE                     2500        0   134165
COMPUTER TASK GROUP INC        COM              205477102      597    27920 SH       OTHER                       0    27920        0
CONVERGYS CORP.                COM              212485106     2935   171405 SH       SOLE                     2800        0   168605
CONVERGYS CORP.                COM              212485106      509    29695 SH       OTHER                       0    29695        0
DOW CHEMICAL CORP              COM              260543103      665     7131 SH       SOLE                        0        0     7131
DU PONT E I DE NEMOURS CO      COM              263534109      555     9557 SH       SOLE                        0        0     9557
EAGLE HARDWARE & GARDEN INC    COM              26959B101     1580    41381 SH       SOLE                      900        0    40481
EAGLE HARDWARE & GARDEN INC    COM              26959B101      432    11300 SH       OTHER                       0    11300        0
ELI LILLY AND COMPANY          COM              532457108      875    10314 SH       SOLE                        0        0    10314
EVERGREEN FOUNDATION TRUST CLA MUTUAL FUNDS     300233103      387    18421 SH       SOLE                        0        0    18421
EXXON CORP                     COM              302290101     3365    47683 SH       SOLE                        0        0    47683
FEDERAL NATIONAL MORTGAGE ASSO COM              313586109      905    13070 SH       SOLE                        0        0    13070
FIRST DATA CORP                COM              319963104     6711   156973 SH       SOLE                     2600        0   154373
FIRST DATA CORP                COM              319963104     1150    26895 SH       OTHER                       0    26895        0
FIRST UNION CORP               COM              337358105     1381    25835 SH       SOLE                        0        0    25835
FREDDIE MAC                    COM              313400301      957    16700 SH       SOLE                        0        0    16700
G T E CORP                     COM              362320103     5019    82952 SH       SOLE                     1300        0    81652
G T E CORP                     COM              362320103      825    13640 SH       OTHER                       0    13640        0
GENERAL CABLE CORP             COM              369300108      846    80065 SH       SOLE                     3000        0    77065
GENERAL CABLE CORP             COM              369300108      234    22110 SH       OTHER                       0    22110        0
GENERAL ELECTRIC CO            COM              369604103     8890    80360 SH       SOLE                        0        0    80360
GENERAL ELECTRIC CO            COM              369604103      539     4871 SH       OTHER                       0     4871        0
GENERAL MILLS INC              COM              370334104      394     5215 SH       SOLE                        0        0     5215
GENUINE PARTS CO               COM              372460105      351    12171 SH       SOLE                        0        0    12171
GILLETTE CO                    COM              375766102      571     9601 SH       SOLE                        0        0     9601
GUIDANT CORP                   COM              401698105      586     9692 SH       SOLE                        0        0     9692
H J HEINZ CO                   COM              423074103      249     5250 SH       SOLE                        0        0     5250
HAVERTY FURNITURE COMPANIES IN COM              419596200      666    27460 SH       SOLE                        0        0    27460
HEALTHDYNE INFORMATION ENTERPR COM              40419W100       63    13900 SH       SOLE                        0        0    13900
HEALTHSOUTH CORP               COM              421924101      225    21702 SH       SOLE                        0        0    21702
HEWLETT PACKARD CO             COM              428236103     4634    68340 SH       SOLE                     1000        0    67340
HEWLETT PACKARD CO             COM              428236103      924    13625 SH       OTHER                       0    13625        0
HILLENBRAND INDUSTRIES INC     COM              431573104     5288   114490 SH       SOLE                     1700        0   112790
HILLENBRAND INDUSTRIES INC     COM              431573104      752    16275 SH       OTHER                       0    16275        0
HOME DEPOT INC                 COM              437076102     2348    37722 SH       SOLE                        0        0    37722
HOME DEPOT INC                 COM              437076102      248     3991 SH       OTHER                       0     3991        0
I B M                          COM              459200101    10470    59071 SH       SOLE                      700        0    58371
I B M                          COM              459200101      784     4425 SH       OTHER                       0     4425        0
INTEL CORP                     COM              458140100      428     7201 SH       SOLE                        0        0     7201
INTEL CORP                     COM              458140100      239     4019 SH       OTHER                       0     4019        0
INTERTAPE POLYMER GROUP INC    COM              460919103     6508   246765 SH       SOLE                     5000        0   241765
INTERTAPE POLYMER GROUP INC    COM              460919103      924    35050 SH       OTHER                       0    35050        0
ITC DELTACOM INC               COM              45031T104      302    13850 SH       SOLE                        0        0    13850
JOHNSON & JOHNSON              COM              478160104     2781    29741 SH       SOLE                      800        0    28941
JOHNSON & JOHNSON              COM              478160104      615     6579 SH       OTHER                       0     6579        0
KAMAN CORP CLASS A             COM              483548103     1977   154310 SH       SOLE                      700        0   153610
KAMAN CORP CLASS A             COM              483548103      151    11800 SH       OTHER                       0    11800        0
KAMAN CORPORATION CONV 6.000%  CONVERTIBLE BOND 483548AC7       16    17000 PRN      SOLE                        0        0    17000
KAYDON CORP                    COM              486587108     4732   163520 SH       SOLE                     2500        0   161020
KAYDON CORP                    COM              486587108      483    16700 SH       OTHER                       0    16700        0
KENNAMETAL INC                 COM              489170100      794    45027 SH       SOLE                     2000        0    43027
KENNAMETAL INC                 COM              489170100      256    14500 SH       OTHER                       0    14500        0
LIPOSOME INC                   COM              536310105      134    10000 SH       SOLE                        0        0    10000
LUCENT TECHNOLOGIES INC        COM              549463107      387     7172 SH       SOLE                        0        0     7172
MATRIA HEALTHCARE INC          COM              576817100       58    21400 SH       SOLE                        0        0    21400
MCDONALDS CORP                 COM              580135101     4341    95792 SH       SOLE                        0        0    95792
MCDONALDS CORP                 COM              580135101      429     9468 SH       OTHER                       0     9468        0
MCKESSON HBOC INC.             COM              58155Q103      266     4036 SH       SOLE                        0        0     4036
MERCK & CO INC                 COM              589331107     1332    16630 SH       SOLE                        0        0    16630
MICROSOFT CORP                 COM              594918104      533     5942 SH       SOLE                        0        0     5942
MINNESOTA MINING & MANUFACTURI COM              604059105      400     5660 SH       SOLE                        0        0     5660
MOBIL CORP                     COM              607059102      335     3806 SH       SOLE                        0        0     3806
MOTOROLA INC                   COM              620076109      205     2800 SH       SOLE                        0        0     2800
NATIONAL SERVICES INDUSTRIES I COM              637657107     1559    45773 SH       SOLE                        0        0    45773
NATIONAL SERVICES INDUSTRIES I COM              637657107      308     9041 SH       OTHER                       0     9041        0
NOKIA CORP SPONSORED ADR       COM              654902204    14324   183940 SH       SOLE                     2200        0   181740
NOKIA CORP SPONSORED ADR       COM              654902204     1880    24140 SH       OTHER                       0    24140        0
NOVELL INC                     COM              670006105      227     9000 SH       SOLE                        0        0     9000
OMNICOM GROUP                  COM              681919106     4295    53732 SH       SOLE                        0        0    53732
P S S WORLD MEDICAL INC.       COM              69366A100      756    85750 SH       SOLE                     2000        0    83750
P S S WORLD MEDICAL INC.       COM              69366A100      232    26275 SH       OTHER                       0    26275        0
PEP BOYS MANNY MOE & JACK      COM              713278109     1287    84370 SH       SOLE                     3000        0    81370
PEP BOYS MANNY MOE & JACK      COM              713278109      262    17200 SH       OTHER                       0    17200        0
PFIZER INC                     COM              717081103      481     3470 SH       SOLE                        0        0     3470
PHILIP MORRIS COS INC          COM              718154107      391    11100 SH       SOLE                        0        0    11100
PRECISION CASTPARTS CORP       COM              740189105     3627    90120 SH       SOLE                     2200        0    87920
PRECISION CASTPARTS CORP       COM              740189105      784    19490 SH       OTHER                       0    19490        0
PREMIER BANCSHARES INC         COM              739909109      241    12187 SH       SOLE                        0        0    12187
PROCTER & GAMBLE COMPANY       COM              742718109     1157    11810 SH       SOLE                        0        0    11810
PROVIDENT COS INC              COM              743862104     2890    83629 SH       SOLE                     1900        0    81729
PROVIDENT COS INC              COM              743862104      577    16686 SH       OTHER                       0    16686        0
PROVIDIAN FINANCIAL CORP       COM              74406A102      594     5400 SH       SOLE                        0        0     5400
QUANEX CORP                    COM              747620102      412    26600 SH       SOLE                        0        0    26600
RAYTHEON CO CLASS 'B'          COM              755111408     4854    82795 SH       SOLE                     1400        0    81395
RAYTHEON CO CLASS 'B'          COM              755111408      786    13415 SH       OTHER                       0    13415        0
REGIS CORP                     COM              758932107     2777   104289 SH       SOLE                     1200        0   103089
REGIS CORP                     COM              758932107      887    33325 SH       OTHER                       0    33325        0
RITE AID CORP                  COM              767754104     5266   210632 SH       SOLE                     2800        0   207832
RITE AID CORP                  COM              767754104      341    13650 SH       OTHER                       0    13650        0
ROYAL DUTCH PETROLEUM          COM              780257804     3484    67004 SH       SOLE                     1200        0    65804
ROYAL DUTCH PETROLEUM          COM              780257804      352     6770 SH       OTHER                       0     6770        0
S & P 500 DEPOSITORY RECEIPT   COM              78462F103      299     2327 SH       SOLE                        0        0     2327
SANMINA CORP                   COM              800907107     6311    98993 SH       SOLE                     1500        0    97493
SANMINA CORP                   COM              800907107     1289    20215 SH       OTHER                       0    20215        0
SARA LEE CORP                  COM              803111103     1612    65150 SH       SOLE                     3100        0    62050
SARA LEE CORP                  COM              803111103      390    15750 SH       OTHER                       0    15750        0
SAVILLE SYS PLC ADR            COM              805174109      257    21000 SH       SOLE                        0        0    21000
SCHERING PLOUGH CORP           COM              806605101      365     6600 SH       SOLE                        0        0     6600
SNAP ON INC                    COM              833034101      575    19838 SH       SOLE                        0        0    19838
SOUTHERN CO                    COM              842587107      260    11151 SH       SOLE                        0        0    11151
SOUTHTRUST CORP                COM              844730101     1525    40881 SH       SOLE                        0        0    40881
SPRINGS INDS INC               COM              851783100     4792   177066 SH       SOLE                        0        0   177066
STERLING COMMERCE INC          COM              859205106      225     7321 SH       SOLE                        0        0     7321
SUNTRUST BANKS INC             COM              867914103     5076    81544 SH       SOLE                     1500        0    80044
SUNTRUST BANKS INC             COM              867914103      594     9535 SH       OTHER                       0     9535        0
SYNOVUS FINANCIAL CORP         COM              87161C105     1145    55846 SH       SOLE                        0        0    55846
TEXAS INSTRUMENTS INC.         COM              882508104     2554    25735 SH       SOLE                      300        0    25435
TEXAS INSTRUMENTS INC.         COM              882508104      355     3580 SH       OTHER                       0     3580        0
TEXTRON INC                    COM              883203101      321     4150 SH       SOLE                        0        0     4150
THE WALT DISNEY COMPANY        COM              254687106      369    11847 SH       SOLE                        0        0    11847
THERMO ELECTRON CORP           COM              883556102     2871   211679 SH       SOLE                     3000        0   208679
THERMO ELECTRON CORP           COM              883556102      541    39862 SH       OTHER                       0    39862        0
TIFFANY & CO                   COM              886547108     4726    63225 SH       SOLE                      400        0    62825
TIFFANY & CO                   COM              886547108      262     3500 SH       OTHER                       0     3500        0
WACHOVIA CORP                  COM              929771103      752     9263 SH       SOLE                        0        0     9263
WILLIAMS COMPANIES INC         COM              969457100     7363   186395 SH       SOLE                     2900        0   183495
WILLIAMS COMPANIES INC         COM              969457100     1145    28990 SH       OTHER                       0    28990        0
</TABLE>


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