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.
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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
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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
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