GOUWS CAPITAL MANAGEMENT INC
13F-HR, 1999-05-13
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			UNITED STATES
		SECURITY 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 here if Amendment 	  [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:    Gouws Capital Management, Inc.
Address: 511 Congress Street
         9th Floor
         Portland, ME 04101

13F File Number: 

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 
required items, statements, schedules, lists, and tables, are considered
integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: Frank E. Kemna
Title:Senior Vice President
Phone:207-774-3333
Signature, Place, and Date of Signing:
Frank E. Kemna   Portland, Maine  May 7, 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 AND EXCHANGE 
ACT OF 1934.
<PAGE>  
<TABLE>
                                                             VALUE    SHARES/ SH/ PUT/ INVSTMT            -----VOTING AUTHORITY-----
  NAME OF ISSUER                 -TITLE OF CLASS- --CUSIP-- (x$1000)  PRN AMT PRN CALL DSCRETN -MANAGERS-     SOLE   SHARED     NONE
                                 <C>                                              <C>
D AMP Inc.                       COM              031897101      360     6729 SH       SOLE                                     6729
D AT&T Corporation               COM              001957109     1094    13711 SH       SOLE                   2389             11322
D Abbott Laboratories            COM              002824100      404     8635 SH       SOLE                   1535              7100
D Air Products & Chemicals       COM              009158106      432    12600 SH       SOLE                                    12600
D Allied-Signal Inc.             COM              019512102      601    12225 SH       SOLE                                    12225
D American Electric Power Inc.   COM              025537101      587    14797 SH       SOLE                   3604             11193
D American Greetings Class A     COM              026375105     5897   232407 SH       SOLE                  66543            165864
                                                                  43     1700 SH       OTHER                                    1700
D American Home Products         COM              026609107     1644    25190 SH       SOLE                   9900             15290
D American International Group I COM              026874107     1205     9986 SH       SOLE                   6018              3968
D Ameritech (Am. Infor. Technolo COM              030954101      209     3632 SH       SOLE                   1360              2272
D Anheuser-Busch                 COM              035229103      354     4650 SH       SOLE                    400              4250
D Aon Corporation                COM              037389103     1041    16458 SH       SOLE                   1775             14683
D Aptagroup Inc                  COM              038336103      208     8000 SH       SOLE                                     8000
D Arnold Industries              COM              042595108      153    10315 SH       SOLE                                    10315
D Atlantic Richfield Co.         COM              048825103      861    11773 SH       SOLE                   3800              7973
D Automatic Data Processing Inc. COM              053015103     1086    26258 SH       SOLE                                    26258
D BP Amoco PLC - Spons ADR       COM              055622104     4970    49212 SH       SOLE                  14262             34950
                                                                 134     1323 SH       OTHER                                    1323
D Bank America Corp.             COM              06605f102     4653    65886 SH       SOLE                  20699             45187
                                                                  49      700 SH       OTHER                                     700
D Bard, C.R. Inc.                COM              067383109     3588    71144 SH       SOLE                  23750             47394
                                                                  38      750 SH       OTHER                                     750
D Battle Mountain Gold Co.       COM              071593107       96    35080 SH       SOLE                     20             35060
D Bell Atlantic Corporation      COM              077853109      465     8992 SH       SOLE                   4146              4846
D Bellsouth Corporation          COM              079860102     3659    91328 SH       SOLE                  26913             64415
                                                                 192     4800 SH       OTHER                                    4800
D Berkshire Hathaway Cl B        COM              084670207      505      215 SH       SOLE                     26               189
D Bestfoods                      COM              08658u101      392     8350 SH       SOLE                    150              8200
D Boeing                         COM              097023105     3602   105952 SH       SOLE                  31074             74878
                                                                  34     1000 SH       OTHER                                    1000
D Bristol-Myers Squibb Co.       COM              110122108     2205    34388 SH       SOLE                   7600             26788
D Broadway & Seymour Inc         COM              111433108       65    16234 SH       SOLE                                    16234
D Browning Ferris                COM              115885105     7579   196550 SH       SOLE                  60878            135672
                                                                  39     1000 SH       OTHER                                    1000
D Burlington Northern Santa Fe C COM              12189T104     3389   103100 SH       SOLE                  32179             70921
                                                                  33     1000 SH       OTHER                                    1000
D Calgon Carbon Corp             COM              129603106     2507   483220 SH       SOLE                 166775            316445
                                                                  26     5000 SH       OTHER                                    5000
D Camden Property Trust          COM              133131102     2507   101300 SH       SOLE                  30335             70965
                                                                  30     1200 SH       OTHER                                    1200
D Chevron Corporation            COM              166751107     1027    11567 SH       SOLE                   4992              6575
D Cisco Systems                  COM              17275R102     1160    10591 SH       SOLE                    550             10041
D Clayton Homes Inc.             COM              184190106     5505   497640 SH       SOLE                 170948            326692
                                                                  48     4375 SH       OTHER                                    4375
D Coca-Cola                      COM              191216100      856    13950 SH       SOLE                   6000              7950
D Cone Mills Corp.               COM              206814105      144    29500 SH       SOLE                                    29500
D Consolidated Natural Gas       COM              209615103     3144    64565 SH       SOLE                  23490             41075
D Cooper Industries, Inc.        COM              216669101      836    19615 SH       SOLE                   2900             16715
D Cooper Tire & Rubber Co.       COM              216831107     7639   415746 SH       SOLE                 122809            292937
                                                                  37     2000 SH       OTHER                                    2000
D Cyprus Amax Minerals Corporati COM              232809103     3779   311700 SH       SOLE                  97603            214097
                                                                  30     2500 SH       OTHER                                    2500
D Deluxe Corporation             COM              248019101     1518    52131 SH       SOLE                  10140             41991
D Diebold Inc.                   COM              253651103     3028   126160 SH       SOLE                  39370             86790
                                                                  34     1400 SH       OTHER                                    1400
D Dillards Inc.  Class A         COM              254067101     5180   204155 SH       SOLE                  65484            138671
                                                                  30     1200 SH       OTHER                                    1200
D Disney, Walt Company           COM              254687106      584    18775 SH       SOLE                   1200             17575
D Dole Food Inc.                 COM              256605106     2499    83308 SH       SOLE                  25200             58108
                                                                  30     1000 SH       OTHER                                    1000
D Dow Chemical                   COM              260543103      512     5494 SH       SOLE                   1450              4044
D Dun & Bradstreet Corporation   COM              26483B106     2524    70861 SH       SOLE                  16723             54138
D Dupont E.I. De Nemour          COM              263534109      812    13992 SH       SOLE                   1800             12192
D EMC Corporation                COM              268648102      396     3100 SH       SOLE                                     3100
D Eastern Enterprises            COM              27637F100     2261    62155 SH       SOLE                  14902             47253
                                                                  73     2000 SH       OTHER                                    2000
D Eastman Kodak Company          COM              277461109      865    13538 SH       SOLE                   4750              8788
                                                                  51      800 SH       OTHER                                     800
D Electronic Data Systems        COM              285661104     7595   155989 SH       SOLE                  49985            106004
                                                                  78     1600 SH       OTHER                                    1600
D Emerson Electric Company       COM              291011104     1484    28030 SH       SOLE                  10600             17430
D Enesco Group Inc.              COM              292973104     4443   245977 SH       SOLE                  75315            170662
                                                                  54     3000 SH       OTHER                                    3000
D Enron Corp.                    COM              293561106      212     3300 SH       SOLE                                     3300
D Enron Oil & Gas                COM              293562104     4517   271714 SH       SOLE                  79710            192004
                                                                  50     3000 SH       OTHER                                    3000
D Exxon Corporation              COM              302290101     4781    67760 SH       SOLE                  24556             43204
D FNMA                           COM              313586109      201     2900 SH       SOLE                    400              2500
D Fleet Financial Group, Inc.    COM              338915101      724    19238 SH       SOLE                  14240              4998
D Fluor Corporation              COM              343861100     4689   173685 SH       SOLE                  55939            117746
D GTE Corporation                COM              362320103     3604    59564 SH       SOLE                  19549             40015
D Gannett Company                COM              364730101      612     9720 SH       SOLE                   9320               400
D General Electric Company       COM              369604103     9980    90212 SH       SOLE                  19650             70562
D General Mills, Inc.            COM              370334104      330     4370 SH       SOLE                    300              4070
D Genuine Parts Company          COM              372460105     2102    72962 SH       SOLE                  16896             56066
                                                                  43     1500 SH       OTHER                                    1500
D Gerber Scientific              COM              373730100     3230   160002 SH       SOLE                  57657            102345
D Glatfelter, P.H. Co.           COM              377316104     3479   310951 SH       SOLE                 101760            209191
                                                                  41     3670 SH       OTHER                                    3670
D Golden West Financial Corp.    COM              381317106      946     9910 SH       SOLE                   2650              7260
D Goodyear Tire & Rubber Company COM              382550101      431     8660 SH       SOLE                   2535              6125
                                                                  50     1000 SH       OTHER                                    1000
D Gorman-Rupp Company            COM              383082104      176    11175 SH       SOLE                   2250              8925
D Great Lakes Chemical Corp.     COM              390568103     6303   171521 SH       SOLE                  56867            114654
                                                                  40     1100 SH       OTHER                                    1100
D HSB Group, Inc.                COM              40428n109     4758   128169 SH       SOLE                  39064             89105
                                                                  56     1500 SH       OTHER                                    1500
D Halliburton Company            COM              406216101     3086    80168 SH       SOLE                  25435             54733
                                                                  27      700 SH       OTHER                                     700
D Hancock Fabrics Inc.           COM              409900107      350    55375 SH       SOLE                  12575             42800
D Heinz H. J. Co.                COM              423074103      323     6821 SH       SOLE                   4370              2451
D Helix Technology Corp          COM              423319102      172    11200 SH       SOLE                                    11200
D Hewlett-Packard Company        COM              428236103      826    12175 SH       SOLE                   8125              4050
D Home Depot Inc.                COM              437076102      369     5930 SH       SOLE                                     5930
D Homestake Mining Co.           COM              437614100     1536   178129 SH       SOLE                  77806            100323
D IMS Health Inc.                COM              449934108     1532    46252 SH       SOLE                   9866             36386
                                                                  25      750 SH       OTHER                                     750
D Idexx Laboratories, Inc.       COM              45168D104      242    10125 SH       SOLE                     75             10050
D Intel Corp.                    COM              458140100      715     6017 SH       SOLE                    250              5767
D International Business Machine COM              459200101     4783    26985 SH       SOLE                   8412             18573
                                                                 142      800 SH       OTHER                                     800
D International Flavors & Fragra COM              459506101      231     6150 SH       SOLE                    150              6000
D Johnson & Johnson              COM              478160104     1384    14797 SH       SOLE                   3150             11647
D Lawson Products                COM              520776105     3788   184762 SH       SOLE                  53891            130871
                                                                  41     2000 SH       OTHER                                    2000
D Lawter International           COM              520786104      404    57650 SH       SOLE                                    57650
D Lilly, Eli & Company           COM              532457108      286     3375 SH       SOLE                    585              2790
D Longview Fibre Company         COM              543213102      355    30730 SH       SOLE                   6970             23760
D Lucent Technologies Inc.       COM              549463107     1251    11583 SH       SOLE                   1511             10072
D MDU Resources Group Inc        COM              552690109      287    12562 SH       SOLE                   3562              9000
D Mallinckrodt Inc.              COM              561232109     6001   225375 SH       SOLE                  72235            153140
                                                                  67     2500 SH       OTHER                                    2500
D Marsh & Mclennan               COM              571748102      240     3230 SH       SOLE                                     3230
D Masco Corporation              COM              574599106      475    16800 SH       SOLE                                    16800
D May Dept Stores                COM              577778103      487    12450 SH       SOLE                                    12450
D McDonalds Corporation          COM              580135101      308     6800 SH       SOLE                    600              6200
D Mercantile Bancorporation      COM              587342106     3795    79890 SH       SOLE                  23915             55975
                                                                  38      800 SH       OTHER                                     800
D Merck & Company Inc.           COM              589331107     8769   109445 SH       SOLE                  37760             71685
D Microsoft                      COM              594918104     1382    15418 SH       SOLE                   1400             14018
D Minnesota Mining & Manufacturi COM              604059105     1561    22065 SH       SOLE                   7479             14586
                                                                  35      500 SH       OTHER                                     500
D Mobil Corporation              COM              607059102     1183    13448 SH       SOLE                   3000             10448
D Monsanto Company               COM              611662107      498    10850 SH       SOLE                   9150              1700
D Morgan, J. P. & Company        COM              616880100      917     7435 SH       SOLE                    450              6985
D Motorola Inc.                  COM              620076109     8842   120706 SH       SOLE                  34533             86173
                                                                  73     1000 SH       OTHER                                    1000
D Nalco Chemical Company         COM              629853102     5049   190062 SH       SOLE                  59416            130646
                                                                  40     1500 SH       OTHER                                    1500
D National Fuel Gas Company      COM              636180101      393    10000 SH       SOLE                                    10000
D National Presto Industries, In COM              637215104     3451    97378 SH       SOLE                  26433             70945
D Nestle S. A. ADR               COM              641069406      215     2367 SH       SOLE                                     2367
D New Century Energies Inc.      COM              64352u103     4009   117707 SH       SOLE                  36362             81345
                                                                  68     2000 SH       OTHER                                    2000
D Northern Trust Corp            COM              665859104      222     2500 SH       SOLE                                     2500
D Occidental Petroleum Company   COM              674599105     3546   197020 SH       SOLE                  60526            136494
                                                                  54     3000 SH       OTHER                                    3000
D Pall Corp.                     COM              696429307     7311   441442 SH       SOLE                 136897            304545
                                                                  50     3000 SH       OTHER                                    3000
D Penney, J.C.                   COM              708160106      696    17185 SH       SOLE                   2500             14685
D Pfizer Inc.                    COM              717081103      453     3268 SH       SOLE                    460              2808
D Phillips-Van Heusen            COM              718592108      110    16350 SH       SOLE                                    16350
D Procter & Gamble Co.           COM              742718109     3584    36596 SH       SOLE                   8350             28246
D Protein Polymer Technologies   COM              743697104        7    10000 SH       SOLE                                    10000
D Questar Corporation            COM              748356102     4055   239390 SH       SOLE                  66210            173180
                                                                  85     5000 SH       OTHER                                    5000
D Quorum Health Group Inc.       COM              749084109     3207   320714 SH       SOLE                  98780            221934
                                                                  30     3000 SH       OTHER                                    3000
D RPM, Inc. Ohio                 COM              749685103     4056   304663 SH       SOLE                  91198            213465
                                                                  40     3000 SH       OTHER                                    3000
D Raytheon Company Class B       COM              755111408     5444    92860 SH       SOLE                  27565             65295
                                                                  47      800 SH       OTHER                                     800
D Reuters Group PLC - Spons ADR  COM              76132m102      647     7452 SH       SOLE                                     7452
D Royal Dutch Petroleum          COM              780257804      662    12724 SH       SOLE                   3950              8774
D SBC Communications Inc.        COM              78387G103      616    13056 SH       SOLE                   5197              7859
D Safeco                         COM              786429100     3098    76601 SH       SOLE                  23945             52656
                                                                  40     1000 SH       OTHER                                    1000
D Schering-Plough                COM              806605101      554    10020 SH       SOLE                   8700              1320
D Schlumberger Ltd.              COM              806857108      572     9500 SH       SOLE                    800              8700
D Schulman, A. Inc.              COM              808194104     3094   227052 SH       SOLE                  70380            156672
                                                                  34     2500 SH       OTHER                                    2500
D Smucker, J.M. Company          COM              832696207      191    10745 SH       SOLE                    765              9980
D South Jersey Industries        COM              838518108     3408   157605 SH       SOLE                  54916            102689
                                                                  43     2000 SH       OTHER                                    2000
D Sprint Corp.                   COM              852061100      213     2175 SH       SOLE                   1500               675
D Sunoco, Inc.                   COM              86764p109     7795   216153 SH       SOLE                  68019            148134
                                                                  86     2374 SH       OTHER                                    2374
D Tidewater Inc.                 COM              886423102     5677   219411 SH       SOLE                  68175            151236
                                                                  41     1600 SH       OTHER                                    1600
D Toys R Us                      COM              892335100     3532   187767 SH       SOLE                  58860            128907
                                                                  38     2000 SH       OTHER                                    2000
D US West Inc                    COM              91273h101      671    12195 SH       SOLE                   2058             10137
D Union Pacific Corporation      COM              907818108      581    10871 SH       SOLE                   6648              4223
D Unisource Worldwide Inc.       COM              909208100      149    20860 SH       SOLE                                    20860
D United Technologies Corp.      COM              913017109      650     4800 SH       SOLE                   4000               800
D Unum Corp.                     COM              903192102     3607    75828 SH       SOLE                  23145             52683
                                                                  38      800 SH       OTHER                                     800
D W. W. Grainger Inc.            COM              384802104      345     8000 SH       SOLE                                     8000
D Wachovia Corporation           COM              929771103      487     6000 SH       SOLE                                     6000
D Wausau - Mosinee Paper Corp.   COM              943315101      447    31960 SH       SOLE                  22470              9490
D Weingarten Realty Invst        COM              948741103     1227    30965 SH       SOLE                   3240             27725
D West Marine                    COM              954235107      123    13850 SH       SOLE                                    13850
D Weyerhaeuser Co.               COM              962166104      442     7965 SH       SOLE                    585              7380
D Equity Income Fund (at&t)      MF               294700703      213 1200.000 SH       SOLE                                 1200.000
D Northern Institutional Equity  MF               665278529     3248 138030.852SH      SOLE             116136.698         21894.154
D Schwab International Index Fun MF               808509103      254 16349.029SH       SOLE              16349.029                 
D Roycefield Res Ltd Com                          780914107       63   238095 SH       SOLE                 238095                 
S REPORT SUMMARY                 198 DATA RECORDS             312489            0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>



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