UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13-F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 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: Speece, Lewis & Thorson, Inc.
Address: 2270 Metropolitan Centre
Minneapolis, MN 55402-2433
13F File Number: 28-3666
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: Fred H. Speece, Jr., CFA
Title: Principal
Phone: (612) 338-7043
Fred H. Speece, Jr. Minneapolis, Minnesota July 2, 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>
SPEECE, LEWIS & THORSON, INC.
FORM 13F SUMMARY PAGE
AS OF DATE: 06/30/99
RUN DATE: 07/02/99 2:26 P.M.
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 40
FORM 13F INFORMATION TABLE VALUE TOTAL: $138,608,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
<PAGE>
<TABLE> <C> <C>
SPEECE, LEWIS & THORSON, INC. PAGE 1
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/99
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AMBAC FINANCIAL GROUP INC COM 023139108 2734 47856 SH SOLE 47856 0 0
AVNET INC COM COM 053807103 2981 64100 SH SOLE 64100 0 0
BARD C R INC COM COM 067383109 2682 56100 SH SOLE 56100 0 0
BORDERS GROUP INC COM COM 099709107 3083 195000 SH SOLE 195000 0 0
BOWATER INC COM COM 102183100 4088 86300 SH SOLE 86300 0 0
CONOCO INC CL A COM 208251306 3451 123800 SH SOLE 123800 0 0
CONSOLIDATED NAT GAS CO COM COM 209615103 3721 61250 SH SOLE 61250 0 0
COOPER INDUSTRIES INC COM 216669101 4285 82400 SH SOLE 82400 0 0
DILLARDS INC CL A COM 254067101 4327 123200 SH SOLE 123200 0 0
DOVER CORP COM 260003108 3705 105850 SH SOLE 105850 0 0
DPL INC COM COM 233293109 3202 173100 SH SOLE 173100 0 0
EDWARDS A G INC COM COM 281760108 2873 89100 SH SOLE 89100 0 0
ENSCO INTL INC COM COM 26874Q100 1449 72700 SH SOLE 72700 0 0
FIRST AMERN CORP TENN COM COM 318900107 1978 47600 SH SOLE 47600 0 0
FOOD LION INC CL B COM 344775101 4660 403000 SH SOLE 403000 0 0
HANNAFORD BROS CO COM COM 410550107 4564 85300 SH SOLE 85300 0 0
HORACE MANN EDUCATORS CP NEWCO COM 440327104 3659 134600 SH SOLE 134600 0 0
HORMEL GEO A & CO COM 440452100 4409 109550 SH SOLE 109550 0 0
JEFFERSON PILOT CORP COM COM 475070108 4147 62650 SH SOLE 62650 0 0
LEGGETT & PLATT INC COM 524660107 5549 199500 SH SOLE 199500 0 0
MASCO CORP COM COM 574599106 4610 159650 SH SOLE 159650 0 0
MBIA INC COM 55262C100 2787 43050 SH SOLE 43050 0 0
MILLER HERMAN INC COM COM 600544100 3371 160500 SH SOLE 160500 0 0
NCR CORP NEW COM COM 62886E108 5230 107150 SH SOLE 107150 0 0
NEW CENTY ENERGIES INC COM COM 64352U103 3410 87850 SH SOLE 87850 0 0
NICOR INC COM COM 654086107 2843 74700 SH SOLE 74700 0 0
NISOURCE INC COM 65473P105 2315 89700 SH SOLE 89700 0 0
PREMARK INTL INC COM 740459102 5021 133900 SH SOLE 133900 0 0
SHERWIN WILLIAMS CO COM 824348106 3458 124600 SH SOLE 124600 0 0
SNAP ON TOOLS CORP COM 833034101 4467 123450 SH SOLE 123450 0 0
SOUTHTRUST CORP COM COM 844730101 2038 53100 SH SOLE 53100 0 0
STANDARD REGISTER CO COM 853887107 4090 133000 SH SOLE 133000 0 0
TECO ENERGY INC COM COM 872375100 2257 99200 SH SOLE 99200 0 0
TIDEWATER INC COM 886423102 1412 46300 SH SOLE 46300 0 0
UNOCAL CORP COM COM 915289102 2552 64400 SH SOLE 64400 0 0
UTILICORP UTD INC COM COM 918005109 2812 115650 SH SOLE 115650 0 0
WERNER ENTERPRISES INC COM COM 950755108 4803 231475 SH SOLE 231475 0 0
WILMINGTON TR CORP COM COM 971807102 2002 34900 SH SOLE 34900 0 0
XL CAPITAL LTD. COM G98255105 3576 63300 SH SOLE 63300 0 0
YORK INTL CORP NEW COM COM 986670107 4007 93594 SH SOLE 93594 0 0
LINE COUNT: 40
</TABLE>
