UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F COVER PAGE
Report for the month ended: 03/31/1999
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: Clay Finlay Inc.
Address: 200 Park Avenue
56th Floor
New York, NY 10016
13F File Number: 28-2989
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, statments,
schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: William O'Donnell
Title: Treasurer
Phone: 212-557-7022
Signature, Place, and Date of Signing:
William O'Donnell New York, New York 05/14/1999
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.
<PAGE>
FORM 13F SUMMARY PAGE
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 44
Form 13F Information Table Value Total: 350104
List of Other Managers:
<PAGE>
<TABLE>
<CAPTION>
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>
Abbott Laboratories COM 002824100 11792 251900 SH SOLE 251900 0 0
Adobe Systems COM 00724F101 13841 243900 SH SOLE 243900 0 0
AGCO COM 001084102 1560 237700 SH SOLE 237700 0 0
Archer-Daniels Midland COM 039483102 6671 454195 SH SOLE 454195 0 0
Avnet COM 053807103 5516 150100 SH SOLE 150100 0 0
Becton Dickinson COM 075887109 11697 305300 SH SOLE 305300 0 0
Texaco COM 881694103 11668 205600 SH SOLE 205600 0 0
FDX Corp. COM 31304N107 14471 155600 SH SOLE 155600 0 0
CSX COM 126408103 8521 218850 SH SOLE 218850 0 0
Chase Manhattan Corp. COM 16161A108 17064 209700 SH SOLE 209700 0 0
Dayton Hudson COM 239753106 20807 312300 SH SOLE 312300 0 0
Bank One COM 06423A103 13969 253700 SH SOLE 253700 0 0
Eastman Kodak COM 277461109 8962 140300 SH SOLE 140300 0 0
Federal National Mortgage COM 313586109 25664 370600 SH SOLE 370600 0 0
Ford Motor COM 345370100 17097 301600 SH SOLE 301600 0 0
General Electric COM 369604103 13701 123850 SH SOLE 123850 0 0
Hewlett-Packard COM 428236103 12898 190200 SH SOLE 190200 0 0
Hilton Hotels COM 432848109 5465 388600 SH SOLE 388600 0 0
Home Depot COM 437076102 7233 116200 SH SOLE 116200 0 0
Intel Corporation COM 458140100 20958 176300 SH SOLE 176300 0 0
Johnson & Johnson COM 478160104 11903 127300 SH SOLE 127300 0 0
Hartford Financial Services COM 416515104 8215 144600 SH SOLE 144600 0 0
Network Associates COM 640938106 3771 122900 SH SOLE 122900 0 0
Micron Technology COM 595112103 13994 290400 SH SOLE 290400 0 0
Morgan J.P. COM 616880100 4997 40500 SH SOLE 40500 0 0
Tenet Healthcare COM 88033G100 5344 282200 SH SOLE 282200 0 0
Pall Corporation COM 696429307 3150 190200 SH SOLE 190200 0 0
Reynolds Metals COM 761763101 6119 126650 SH SOLE 126650 0 0
Safeco COM 786429100 6692 165500 SH SOLE 165500 0 0
St. Paul Co's COM 79286010 7014 225800 SH SOLE 225800 0 0
Sears Roebuck COM 812387108 10063 222700 SH SOLE 222700 0 0
Tenneco COM 88037E101 4547 162750 SH SOLE 162750 0 0
USX Marathon COM 902905827 4221 153500 SH SOLE 153500 0 0
Unocal COM 915289102 7014 190200 SH SOLE 190200 0 0
Union Pacific Resources COM 907834105 1796 151200 SH SOLE 151200 0 0
</TABLE>
