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 [ ]; Amendment Number:
This Amendment (Check only one.) [ ] is a restatement.
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Hourglass Capital Management, Inc.
Address: 1601 Elm Street, Suite 1750
Dallas, Texas 75201
13F File Number: 28-4856
The institutional investment manager filing this report and the
person by whom it is signed hereby represent tthat 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: Nora L. Phare
Title: Office Manager
Phone: (214) 754-8750 ext. 220
Signature, Place, and Date of Signing:
Nora L. Phare Dallas, Texas November 8, 1999
Report Type (check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
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: 62
Form 13F Information Table Value Total: $223,110
List of Other Included Managers:
NONE
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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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALCOA INC. COM 022249106 6177 99530.00 SH SOLE 45830.00 53700.00
ALLTEL CORP. COM 020039103 267 3800.00 SH SOLE 1400.00 2400.00
AMERICA ONLINE COM 02364j104 6204 59615.00 SH SOLE 31510.00 28105.00
AMERICAN EXPRESS COM 025816109 6189 45845.00 SH SOLE 22200.00 23645.00
AMERICAN GENERAL COM 026351106 281 4450.00 SH SOLE 1050.00 3400.00
AMERICAN INT'L GRP COM 026874107 8884102185.50 SH SOLE 51829.00 50356.50
AMERITECH COM 030954101 300 4500.00 SH SOLE 4000.00 500.00
AT&T CORP. COM 001957109 5250120684.00 SH SOLE 60160.00 60524.00
ATMOS ENERGY COM 049560105 443 18350.00 SH SOLE 3700.00 14650.00
AVERY DENNISON COM 053611109 5200 98575.00 SH SOLE 47690.00 50885.00
BANC ONE CORP COM 059438101 226 6500.00 SH SOLE 6500.00
BANKAMERICA CORP COM 060505104 426 7658.00 SH SOLE 6688.00 970.00
CARDINAL HEALTH COM 14149Y108 4794 87964.00 SH SOLE 43416.00 44548.00
CHEVRON CORP. COM 166751107 453 5100.00 SH SOLE 5100.00
CISCO SYSTEMS COM 17275R102 8586125234.00 SH SOLE 63413.00 61821.00
CRESCENT REAL ESTATE COM 225756105 308 17100.00 SH SOLE 14950.00 2150.00
DELL COMPUTER COM 247025109 5043120620.00 SH SOLE 64475.00 56145.00
DST SYSTEMS COM 233326107 3400 59785.00 SH SOLE 27230.00 32555.00
EMPIRE DISTRICT ELECTRIC CO. COM 291641108 478 18700.00 SH SOLE 13700.00 5000.00
ENNIS BUS. FORMS COM 293389102 96 10800.00 SH SOLE 10800.00
EXXON CORP. COM 302290101 1446 19024.00 SH SOLE 14924.00 4100.00
FIRSTAR CORP COM 33763v109 5121199855.00 SH SOLE 96350.00 103505.00
GABLES RESIDENTIAL TRUST COM 362418105 334 13900.00 SH SOLE 12700.00 1200.00
GATX CORP. COM 361448103 5975192360.00 SH SOLE 91515.00 100845.00
GENERAL ELECTRIC COM 369604103 7539 63585.00 SH SOLE 33195.00 30390.00
GILLETTE CO. COM 375766102 4146122160.00 SH SOLE 58790.00 63370.00
HEINZ (H.J.) COM 423074103 206 4800.00 SH SOLE 1500.00 3300.00
HOME DEPOT COM 437076102 638 9300.00 SH SOLE 6400.00 2900.00
HSB GROUP INC. COM 40428N109 527 14980.00 SH SOLE 7900.00 7080.00
IBM CORP. COM 459200101 9938 82135.00 SH SOLE 38380.00 43755.00
INTERNATIONAL PAPER COM 460146103 5663117825.00 SH SOLE 58650.00 59175.00
J C PENNY CO. COM 708160106 252 7300.00 SH SOLE 3600.00 3700.00
JOHNSON & JOHNSON COM 478160104 6486 70598.00 SH SOLE 35200.00 35398.00
KOALA CORP COM 499866101 326 10600.00 SH SOLE 9800.00 800.00
KOHLS CORP. COM 500255104 5674 85810.00 SH SOLE 42090.00 43720.00
LINCOLN NATIONAL COM 534187109 321 8550.00 SH SOLE 1750.00 6800.00
LUBY'S CAFETERIAS COM 549282101 144 12500.00 SH SOLE 6500.00 6000.00
LUCENT TECH. COM 549463107 6757104158.00 SH SOLE 51928.00 52230.00
MARSH & MCLENNAN COM 571748102 6163 89975.00 SH SOLE 43310.00 46665.00
MCI WORLDCOM COM 5526B1062 5347 74392.00 SH SOLE 37237.00 37155.00
MEDTRONIC INC COM 585055106 6619186120.00 SH SOLE 93510.00 92610.00
MELLON FINANCIAL CORP. COM 58551A108 5978177780.00 SH SOLE 88110.00 89670.00
MICROSOFT INC. COM 594918104 6701 73990.00 SH SOLE 36470.00 37520.00
MIDCAP S&P DEPOSITORY RECEIPTS COM 595635103 262 3655.00 SH SOLE 2145.00 1510.00
MINNESOTA MINING & MFG. COM 604059105 7269 75665.00 SH SOLE 38615.00 37050.00
MOBIL CORP. COM 607059102 5966 59220.00 SH SOLE 27960.00 31260.00
MORGAN (J.P.) & CO. COM 616880100 286 2500.00 SH SOLE 2500.00
OMNICOM GROUP COM 681919106 6458 81550.00 SH SOLE 38340.00 43210.00
PHILLIPS PETROLEUM COM 718507106 583 11950.00 SH SOLE 7850.00 4100.00
PRENTISS PROPERTIES COM 740706106 397 17900.00 SH SOLE 17500.00 400.00
PROCTER & GAMBLE COM 742718109 4716 50305.00 SH SOLE 25225.00 25080.00
SCHERING-PLOUGH COM 806605101 5670129967.00 SH SOLE 64455.00 65512.00
SOUTHERN CO. COM 842587107 373 14500.00 SH SOLE 13050.00 1450.00
SOUTHWEST AIR COM 844741108 4313283976.50 SH SOLE 144918.50 139058.00
SPRINT CORP COM 852061100 4391 80935.00 SH SOLE 40945.00 39990.00
STANDARD & POOR'S DEP RECPTS COM 78462F103 2650 20580.00 SH SOLE 7425.00 13155.00
TEXACO INC. COM 881694103 5283 83690.00 SH SOLE 35765.00 47925.00
TEXAS INSTRUMENTS COM 882508104 3858 46910.00 SH SOLE 23345.00 23565.00
THE WILLIAMS CO. COM 969457100 203 5400.00 SH SOLE 5400.00
TYCO INTL LTD NEW COM COM 902124106 5645 54675.00 SH SOLE 27115.00 27560.00
WARNER-LAMBERT COM 934488107 5294 79760.00 SH SOLE 36845.00 42915.00
XEROX CORP. COM 984121103 4186 99810.00 SH SOLE 47630.00 52180.00
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