UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 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 February 3, 2000
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 8202 98825.00 SH SOLE 45750.00 53075.00
ALLTEL CORP. COM 020039103 314 3800.00 SH SOLE 1400.00 2400.00
AMERICA ONLINE COM 02364j104 9016118830.00 SH SOLE 63020.00 55810.00
AMERICAN EXPRESS COM 025816109 7622 45845.00 SH SOLE 22200.00 23645.00
AMERICAN GENERAL COM 026351106 277 3650.00 SH SOLE 1050.00 2600.00
AMERICAN INT'L GRP COM 026874107 10952101288.00 SH SOLE 51869.00 49419.00
AT&T CORP. COM 001957109 5723112635.00 SH SOLE 52835.00 59800.00
ATLANTIC COAST AIR COM 048396105 221 9300.00 SH SOLE 7500.00 1800.00
ATMOS ENERGY COM 049560105 375 18350.00 SH SOLE 3700.00 14650.00
AVERY DENNISON COM 053611109 7162 98275.00 SH SOLE 47690.00 50585.00
BANKAMERICA CORP COM 060505104 384 7658.00 SH SOLE 6688.00 970.00
CATALINA MKTG. COM 148867104 249 2150.00 SH SOLE 1800.00 350.00
CATALYTICA, INC. COM 148885104 203 15000.00 SH SOLE 15000.00
CATHAY BANCORP COM 149150104 205 5000.00 SH SOLE 5000.00
CHEVRON CORP. COM 166751107 442 5100.00 SH SOLE 5100.00
CISCO SYSTEMS COM 17275R102 13405125134.00 SH SOLE 63613.00 61521.00
CRESCENT REAL ESTATE COM 225756105 472 25700.00 SH SOLE 23550.00 2150.00
DELL COMPUTER COM 247025109 6096119520.00 SH SOLE 64475.00 55045.00
DST SYSTEMS COM 233326107 4562 59785.00 SH SOLE 27230.00 32555.00
EMPIRE DISTRICT ELECTRIC CO. COM 291641108 423 18700.00 SH SOLE 13700.00 5000.00
ENNIS BUS. FORMS COM 293389102 84 10800.00 SH SOLE 10800.00
EXXON MOBIL CORP. COM 30231G102 7819 97056.27 SH SOLE 51826.00 45230.27
FIRSTAR CORP COM 33763v109 3823180965.00 SH SOLE 86235.00 94730.00
GABLES RESIDENTIAL TRUST COM 362418105 336 14000.00 SH SOLE 12800.00 1200.00
GATX CORP. COM 361448103 6224184410.00 SH SOLE 86315.00 98095.00
GENERAL ELECTRIC COM 369604103 9840 63585.00 SH SOLE 33195.00 30390.00
GILLETTE CO. COM 375766102 4497109190.00 SH SOLE 48220.00 60970.00
HAGGAR CORP. COM 405173105 122 10700.00 SH SOLE 10700.00
HOME DEPOT COM 437076102 959 13950.00 SH SOLE 9600.00 4350.00
HSB GROUP INC. COM 40428N109 425 12580.00 SH SOLE 7100.00 5480.00
IBM CORP. COM 459200101 8865 82175.00 SH SOLE 38420.00 43755.00
INTERNATIONAL PAPER COM 460146103 6358112650.00 SH SOLE 53850.00 58800.00
JOHNSON & JOHNSON COM 478160104 6512 69833.00 SH SOLE 35235.00 34598.00
KOALA CORP COM 499866101 297 21200.00 SH SOLE 19600.00 1600.00
KOHLS CORP. COM 500255104 5236 72540.00 SH SOLE 36215.00 36325.00
LINCOLN NATIONAL COM 534187109 342 8550.00 SH SOLE 1750.00 6800.00
LUBY'S CAFETERIAS COM 549282101 282 24800.00 SH SOLE 18800.00 6000.00
LUCENT TECH. COM 549463107 7831104408.00 SH SOLE 52178.00 52230.00
MARSH & MCLENNAN COM 571748102 8514 88975.00 SH SOLE 43310.00 45665.00
MCI WORLDCOM COM 5526B1062 5913111436.50 SH SOLE 55854.00 55582.50
MEDTRONIC INC COM 585055106 6756185420.00 SH SOLE 93510.00 91910.00
MELLON FINANCIAL CORP. COM 58551A108 6056177780.00 SH SOLE 88110.00 89670.00
MICROSOFT INC. COM 594918104 8613 73775.00 SH SOLE 36455.00 37320.00
MIDCAP S&P DEPOSITORY RECEIPTS COM 595635103 297 3655.00 SH SOLE 2145.00 1510.00
MINNESOTA MINING & MFG. COM 604059105 7406 75665.00 SH SOLE 38615.00 37050.00
MORGAN (J.P.) & CO. COM 616880100 317 2500.00 SH SOLE 2500.00
OMNICOM GROUP COM 681919106 8114 81140.00 SH SOLE 38340.00 42800.00
PHILLIPS PETROLEUM COM 718507106 562 11950.00 SH SOLE 7850.00 4100.00
PRENTISS PROPERTIES COM 740706106 569 26600.00 SH SOLE 26200.00 400.00
PROCTER & GAMBLE COM 742718109 5512 50305.00 SH SOLE 25225.00 25080.00
QUALCOMM INC. COM 747525103 211 1200.00 SH SOLE 1200.00
SBC COMM. COM 78387G103 313 6420.00 SH SOLE 5763.00 657.00
SCHERING-PLOUGH COM 806605101 5511130042.00 SH SOLE 64530.00 65512.00
SOUTHERN CO. COM 842587107 442 18800.00 SH SOLE 17350.00 1450.00
SOUTHWEST AIR COM 844741108 5842362310.50 SH SOLE 180181.50 182129.00
SPRINT CORP COM 852061100 5451 80985.00 SH SOLE 40995.00 39990.00
STANDARD & POOR'S DEP RECPTS COM 78462F103 2365 16100.00 SH SOLE 7975.00 8125.00
TEXACO INC. COM 881694103 4545 83690.00 SH SOLE 35765.00 47925.00
TEXAS INSTRUMENTS COM 882508104 7024 72695.00 SH SOLE 35965.00 36730.00
UNITED PARCEL SERVICE CL B COM 911312106 5978 86640.00 SH SOLE 42975.00 43665.00
VOICESTREAM WIRELESS COM COM 213 1500.00 SH SOLE 1500.00
WAL-MART STORES COM 931142103 207 3000.00 SH SOLE 3000.00
WARNER-LAMBERT COM 934488107 6535 79760.00 SH SOLE 36845.00 42915.00
WISCONSIN ENERGY COM 976657106 295 15300.00 SH SOLE 15300.00
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