PRESQUE ISLE CAPITAL MANAGEMENT INC
13F-HR, 1999-11-12
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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:  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:		Presque Isle Capital Management, Inc.
Address:	3939 West Ridge Road
		Suite B30
		Erie, PA  16506

13F File Number:	28-2939

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:		John F. Trettel
Title:		President
Phone:		814-835-7097
Signature, Place, and Date of Signing

        John F. Trettel         Erie, PA                November 11, 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: 69

Form 13F Information Table Value Total: $77,173


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

AT&T Corp                      com              001957109    931   21391   sh       sole             21391       0      0
Abbott Labs                    com              002824100   1268   34550   sh       sole             34550       0      0
Aetna Inc                      com              008117103    261    5300   sh       sole              5300       0      0
America Online Inc Del         com              02364J104   1973   18957   sh       sole             18957       0      0
American Home Prods Corp       com              026609107   1469   35400   sh       sole             35400       0      0
BankAtlantic Bancorp           Cl A             065908501    274   49202   sh       sole             49202       0      0
Becton Dickinson & Co          com              075887109    236    8400   sh       sole              8400       0      0
Bell South Inc                 com              079860102   1836   40800   sh       sole             40800       0      0
Black & Decker Corp            com              091797100   1447   31675   sh       sole             31675       0      0
Bristol Myers Squibb Co        com              110122108   3007   44542   sh       sole             44542       0      0
Burlington Inds Inc            com              121693105    240   53300   sh       sole             53300       0      0
Cisco Sys Inc                  com              17275R102   3691   53828   sh       sole             53828       0      0
Citigroup Inc                  com              172967101    511   11611   sh       sole             11611       0      0
Community Svgs Bankshares New  com              204037105    218   18185   sh       sole             18185       0      0
Compaq Computer Corp           com              204493100   1535   67096   sh       sole             67096       0      0
Dell Computer Corp             com              247025109    251    6000   sh       sole              6000       0      0
Diebold Inc                    com              253651103    269   11650   sh       sole             11650       0      0
Disney Walt Co                 com              254687106    636   24470   sh       sole             24470       0      0
EMC Corp Mass                  com              268648102   1488   20850   sh       sole             20850       0      0
Eastman Kodak Co               com              277461109   1015   13425   sh       sole             13425       0      0
Elmira Svgs Bk FSB N Y         com              289660102    249   11046   sh       sole             11046       0      0
Erie Indty Co                  Cl A             29530P102    449   13630   sh       sole             13630       0      0
Exxon Corp                     com              302290101   1159   15250   sh       sole             15250       0      0
Fidelity Bankshares Inc        com              316047109    400   25000   sh       sole             25000       0      0
Fleet Fin'l Group Inc New      com              338915101    967   26400   sh       sole             26400       0      0
GTE Corp                       com              362320103    550    7150   sh       sole              7150       0      0
General Elec Co                com              369604103   3301   27838   sh       sole             27838       0      0
Halliburton Co                 com              406216101   1142   27850   sh       sole             27850       0      0
Hewlett Packard Co             com              428236103   2770   30525   sh       sole             30525       0      0
Hospitality PPTYS TR           com SH BEN INT   44106M102    331   14900   sh       sole             14900       0      0
Intel Corp                     com              458140100   5341   71870   sh       sole             71870       0      0
International Business Machs   com              459200101   2466   20378   sh       sole             20378       0      0
Johnson & Johnson              com              478160104   2901   31571   sh       sole             31571       0      0
Lilly Eli & Co                 com              532457108   2510   39100   sh       sole             39100       0      0
Lucent Technologies Inc        com              549463107    985   15176   sh       sole             15176       0      0
MCI Worlcom Inc                com              55268B106   1087   15122   sh       sole             15122       0      0
Mallinckrodt Inc New           com              561232109    332   11000   sh       sole             11000       0      0
McDonalds Corp                 com              580135101    368    8500   sh       sole              8500       0      0
Medtronic Inc                  com              585055106    723   20326   sh       sole             20326       0      0
Merck & Co Inc                 com              589331107   2866   44224   sh       sole             44224       0      0
Microsoft Corp                 com              594918104   3283   36250   sh       sole             36250       0      0
Milacron Inc                   com              598709103    416   23450   sh       sole             23450       0      0
Mindspring Enterprises Inc     com              602683104    341   12300   sh       sole             12300       0      0
Mobil Corp                     com              607059102   1733   17200   sh       sole             17200       0      0
Mony Group Inc                 com              615337102    347   12000   sh       sole             12000       0      0
National City Corp             com              635405103    373   13980   sh       sole             13980       0      0
Niagara Bancorp Inc            com              652914102    279   26700   sh       sole             26700       0      0
Novell Inc                     com              670006105    341   16500   sh       sole             16500       0      0
Officemax Inc                  com              67622M108    711  122300   sh       sole            122300       0      0
PNC BK Corp                    com              693475105    381    7233   sh       sole              7233       0      0
Penney J C Inc                 com              708160106    245    7100   sh       sole              7100       0      0
Pepsico Inc                    com              713448108   1031   33805   sh       sole             33805       0      0
Pfizer Inc                     com              717081103   2220   61880   sh       sole             61880       0      0
Reckson Assoc Rlty Corp        Pfd CV Ser A%    75621K205    316   15650   sh       sole             15650       0      0
SBC Communications Inc         com              78387G103   1515   29660   sh       sole             29660       0      0
Schering Plough Corp           com              806605101    825   18900   sh       sole             18900       0      0
Schlumberger LTD               com              806857108    405    6500   sh       sole              6500       0      0
Sovereign Bancorp Inc          com              845905108    767   84373   sh       sole             84373       0      0
Staples Inc                    com              855030102    240   11000   sh       sole             11000       0      0
Staten Is Bancorp Inc          com              857550107    895   47580   sh       sole             47580       0      0
Steris Corp                    com              859152100    202   14700   sh       sole             14700       0      0
Tenneco Inc New                com              88037E101    255   15000   sh       sole             15000       0      0
Texas Pac Ld Tr                Sub CTF PROP IT  882610108    434    9575   sh       sole              9575       0      0
3Com Corp                      com              885535104   1757   61100   sh       sole             61100       0      0
Time Warner Inc                com              887315109   1236   20340   sh       sole             20340       0      0
Unocal Corp                    com              915289102    273    7372   sh       sole              7372       0      0
Vlasic Foods Intl Inc          com              928559103    322   46400   sh       sole             46400       0      0
WVS Finl Corp                  com              929358109    260   18800   sh       sole             18800       0      0
Xerox Corp                     com              984121103   2317   55250   sh       sole             55250       0      0
</TABLE>


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