UNITED STATES
SECURITIES AND EXCHANGE COMMISION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: March 30, 1999
Grace & White, Inc.
515 Madison Avenue
Suite 1700
New York, N. Y. 10022
13F File Number: 1Q 99
PERSON SIGNING THIS RERPORT ON BEHALF OF REPORTING MANAGER:
Marc E. Ravitz, Vice-President (212)-935-5990
SIGNATURE,PLACE,AND DATE OF SIGNING:
MARC E. RAVITZ NEW YORK, NEW YORK MAY 14,1999
13F HOLDINGS REPORT
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITES
EXCAHANGE ACT OF 1934.
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GRACE & WHITE, INC.
FORM 13F SUMMARY PAGE
AS OF DATE: 03/31/99
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 154
FORM 13F INFORMATION TABLE VALUE TOTAL: $173,065,000
NO. 13F FILE NUMBER 1Q99
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FORM13F INFORMATION TABLE
AS OF DATE: 03/31/99
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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
ADVANCED MARKETING SVCS INC COM 00753T105 7424 571068 SH SOLE 77300 0 493768
ADVANCED MARKETING SVCS INC COM 00753T105 1346 103500 SH OTHER 0 0 103500
ALICO LAND DEV CO COM 016230104 923 60500 SH SOLE 11000 0 49500
ALICO LAND DEV CO COM 016230104 206 13500 SH OTHER 0 0 13500
AMERICAN HOME PRODS CORP COM 026609107 235 3600 SH SOLE 0 0 3600
ANDERSEN GROUP COM 033501107 376 120363 SH SOLE 124 0 120239
ANDERSEN GROUP INC CV 10.5% 10 CONVERTIBLE BOND 033501AB3 304 371000 PRN SOLE 108000 0 263000
ARACRUZ CELULOSE ADR SP REP CL COM 038496204 283 19500 SH SOLE 15000 0 4500
ASIA FINANCIAL HOLDINGS HK FOREIGN COMMON S 6057754 163 1250000 SH SOLE 938000 0 312000
ATLANTIC RICHFIELD COMPANY COM 048825103 977 13360 SH SOLE 0 0 13360
BANYAN STRATEGIC RLTY TR SH BE COM 06683M102 887 179700 SH SOLE 3000 0 176700
BASSETT FURNITURE INDS INC COM COM 070203104 2644 119500 SH SOLE 15400 0 104100
BP AMOCO ADS COM 055622104 426 4217 SH SOLE 1175 0 3042
BP AMOCO ADS COM 055622104 1711 16938 SH OTHER 0 0 16938
BRISTOL MYERS SQUIBB CO COM 110122108 223 3480 SH OTHER 0 0 3480
BUELL INDS CONTINGENT PYMT RT WARRANT AND RIGH 119061190 0 13500 SH SOLE 0 0 13500
CALLAWAY GOLF CO COM COM 131193104 204 20000 SH SOLE 2500 0 17500
CASTLE A M & CO COM 148411101 539 43968 SH SOLE 10000 0 33968
CATELLUS DEV CORP COM COM 149111106 2554 190927 SH SOLE 33875 0 157052
CATELLUS DEV CORP COM COM 149111106 268 20000 SH OTHER 0 0 20000
CENTRAL SPRINKLER CORP COM 155184104 2674 187650 SH SOLE 40900 0 146750
CENTRAL SPRINKLER CORP COM 155184104 190 13300 SH OTHER 0 0 13300
CFS BANCORP INC COM COM 12525D102 1820 173300 SH SOLE 31000 0 142300
CHARTWELL RE CORP COM COM 16139W109 2804 162551 SH SOLE 25670 0 136881
CMI CORP OKLA CL A COM 125761304 1225 196000 SH SOLE 34000 0 162000
CROSS A T CO CL A COM 227478104 1930 263900 SH SOLE 55800 0 208100
CROSS A T CO CL A COM 227478104 159 21800 SH OTHER 0 0 21800
CROWN CRAFTS INC COM COM 228309100 1127 225300 SH SOLE 28000 0 197300
CYBEX INTL INC COM COM 23252E106 1623 447700 SH SOLE 51500 0 396200
CYBEX INTL INC COM COM 23252E106 145 40000 SH OTHER 0 0 40000
DAWSON GEOPHYSICAL CO COM COM 239359102 699 88800 SH SOLE 10500 0 78300
DESIGNS INC COM 25057L102 2409 1284900 SH SOLE 241300 0 1043600
DIGITAL GRAPHIX INC. COM 25385E101 0 11510 SH SOLE 0 0 11510
DONNA KARAN INTL INC COM COM 257826107 467 61200 SH SOLE 12000 0 49200
EDPERBRASCAN CORP LTD VTG SHS COM 280905803 167 14054 SH SOLE 0 0 14054
ELECTRONICS FOR IMAGING INC CO COM 286082102 1755 45000 SH SOLE 5000 0 40000
EMC INS GROUP INC COM 268664109 3516 296066 SH SOLE 47200 0 248866
EMCON ASSOC COM 290843101 2068 636300 SH SOLE 83200 0 553100
EMCON ASSOC COM 290843101 120 37000 SH OTHER 0 0 37000
EXXON CORP COM 302290101 363 5140 SH SOLE 0 0 5140
EXXON CORP COM 302290101 454 6432 SH OTHER 0 0 6432
FARM FAMILY HLDGS INC COM COM 307901108 318 10000 SH SOLE 2400 0 7600
FIRSTSPARTAN FINL CORP COM COM 337931109 223 7500 SH SOLE 3600 0 3900
FLEMING COS INC COM 339130106 1204 140629 SH SOLE 28844 0 111785
FLEMING COS INC COM 339130106 242 28309 SH OTHER 0 0 28309
FLUOR DANIEL/GTI INC COM COM 34386C106 0 29661 SH SOLE 29661 0 0
FOREST CITY ENTERPRISES CLASS COM 345550107 1292 53400 SH SOLE 2230 0 51170
FOREST CITY ENTERPRISES CLASS COM 345550107 327 13500 SH OTHER 0 0 13500
FOREST CITY ENTERPRISES CLASS COM 345550305 1332 55800 SH SOLE 12730 0 43070
FORT DEARBORN INC SECS COM 347200107 375 24114 SH SOLE 1 0 24113
FOSTER WHEELER CORP COM 350244109 411 33920 SH SOLE 0 0 33920
FRIEDMAN INDS INC COM 358435105 62 16767 SH SOLE 6465 0 10302
GENERAL ELEC CO COM 369604103 1505 13600 SH SOLE 0 0 13600
GENERAL ELEC CO COM 369604103 241 2180 SH OTHER 0 0 2180
GETTY PETE MARKETING INC COM COM 374292100 212 73900 SH SOLE 0 0 73900
GLATFELTER P H CO COM COM 377316104 113 10080 SH SOLE 0 0 10080
GLEASON CORP COM 377339106 1753 103500 SH SOLE 22400 0 81100
GLEASON CORP COM 377339106 220 13000 SH OTHER 0 0 13000
GORMAN RUPP CO COM 383082104 3365 213650 SH SOLE 62409 0 151241
GUARANTEE LIFE COS INC COM COM 400740106 918 54000 SH SOLE 11500 0 42500
GUNDLE/SLT ENVIRONMENTAL INCCO COM 402809107 2474 899800 SH SOLE 227300 0 672500
GUNDLE/SLT ENVIRONMENTAL INCCO COM 402809107 195 71000 SH OTHER 0 0 71000
H & Q LIFE SCIENCES INVS SH BE COM 404053100 283 25740 SH SOLE 7113 0 18627
HEALTHY PLANET PRODS INC COM COM 42221N104 69 100300 SH SOLE 12900 0 87400
HELLER FINL INC CL A COM 423328103 3925 167000 SH SOLE 43800 0 123200
HELMERICH & PAYNE INC COM 423452101 873 38500 SH SOLE 8000 0 30500
IEC ELECTRS CORP NEW COM COM 44949L105 1216 374000 SH SOLE 30000 0 344000
INTERNATIONAL CAP EQUIP LTD PA COM 459228201 0 10664 SH SOLE 1800 0 8864
INTERSTATE ENERGY CORP WISC CO COM 460845100 1847 69389 SH SOLE 12491 0 56898
KANSAS CITY SOUTHERN INDS COM 485170104 855 15000 SH SOLE 0 0 15000
KIMCO RLTY CORP COM COM 49446R109 1339 36322 SH SOLE 0 0 36322
KNIGHTSBRIDGE TANKERS LTD SHS COM G5299G106 1835 106400 SH SOLE 28100 0 78300
LECHTERS CV 5% 9/27/01 CONVERTIBLE BOND XS0033749 261 450000 PRN SOLE 35000 0 415000
LECHTERS INC COM COM 523238103 1634 757800 SH SOLE 100000 0 657800
LIBERTY HOMES INC CL B COM 530582303 651 60600 SH SOLE 1800 0 58800
LIBERTY HOMES INC CL B COM 530582303 108 10000 SH OTHER 0 0 10000
LUFKIN INDS INC COM COM 549764108 2619 158150 SH SOLE 37100 0 121050
LUFKIN INDS INC COM COM 549764108 248 15000 SH OTHER 0 0 15000
MADISON GAS & ELEC CO COM 557497104 1426 73143 SH SOLE 3650 0 69493
MAGAL SECURITY SYS LTD ORD COM M6786D104 37 12000 SH SOLE 0 0 12000
MERCK & CO INC COM 589331107 2046 25534 SH SOLE 6000 0 19534
MERIDIAN INS GROUP INC COM COM 589644103 1186 75295 SH SOLE 15675 0 59620
MGI PROPERTIES COM 552885105 4469 163265 SH SOLE 27500 0 135765
MICROSOFT CORP COM COM 594918104 287 3200 SH SOLE 0 0 3200
MIDDLESEX WTR CO COM 596680108 646 26500 SH SOLE 2000 0 24500
MO OCH DOMSJOE-B SHS FOREIGN COMMON S 614052 443 20000 SH SOLE 5600 0 14400
MOBIL CORP COM 607059102 410 4654 SH SOLE 760 0 3894
MONARCH MACH TOOL CO COM 609150107 119 17300 SH SOLE 2000 0 15300
MUELLER PAUL CO COM 624752101 1146 34337 SH SOLE 2700 0 31637
NASH FINCH CO COM COM 631158102 1665 198783 SH SOLE 53340 0 145443
NATURAL WONDERS INC COM COM 639014109 2316 529400 SH SOLE 47600 0 481800
NITCHES INC COM COM 65476M109 109 36830 SH SOLE 19946 0 16884
NOLAND COMPANY COM 655286102 236 11250 SH SOLE 0 0 11250
NUCOR CORP COM 670346105 7401 167967 SH SOLE 36123 0 131844
NUCOR CORP COM 670346105 1917 43504 SH OTHER 0 0 43504
OCEAN FINL CORP COM COM 674904107 2759 191900 SH SOLE 36500 0 155400
OCEAN FINL CORP COM COM 674904107 243 16900 SH OTHER 0 0 16900
OHIO CASUALTY CORP COM 677240103 542 13900 SH SOLE 8900 0 5000
OILGEAR CO COM 678042102 142 18331 SH SOLE 6500 0 11831
OLD GUARD GROUP INC COM COM 679783100 1676 132100 SH SOLE 29277 0 102823
OMI CORP COM COM Y6476W104 48 24000 SH SOLE 0 0 24000
OXFORD INDS INC COM COM 691497309 317 13000 SH SOLE 7500 0 5500
PATTERSON ENERGY INC COM COM 703414102 1004 180500 SH SOLE 44500 0 136000
PENNA ENTERPRISES COM 708720107 3071 127966 SH SOLE 20180 0 107786
PEPSICO INC COM 713448108 1144 29200 SH SOLE 3600 0 25600
PETCO ANIMAL SUPPLIES INC COM COM 716016100 426 42600 SH SOLE 2500 0 40100
PHOENIX TECHNOLOGIES LTD COM 719153108 1430 168200 SH SOLE 30500 0 137700
PHOENIX TECHNOLOGIES LTD COM 719153108 251 29500 SH OTHER 0 0 29500
PROCTER & GAMBLE COMPANY COM 742718109 200 2040 SH SOLE 0 0 2040
PROPERTY CAP TR SHS BEN INT COM 743437105 43 188333 SH SOLE 38700 0 149633
PROVIDENT COS INC COM COM 743862104 988 28600 SH SOLE 0 0 28600
PROVIDENT COS INC COM COM 743862104 615 17800 SH OTHER 0 0 17800
PXRE CORP COM COM 693674103 1901 105599 SH SOLE 28182 0 77417
READ-RITE CORP COM COM 755246105 572 86800 SH SOLE 14300 0 72500
RIDGEVIEW INC COM COM 765905104 218 109200 SH SOLE 7300 0 101900
ROCHE HLDGS BONS DE JOUISSANCE FOREIGN COMMON S XRH692931 681 57 SH SOLE 0 0 57
ROYCE GLOBAL TR INC COM MUTUAL FUNDS 78080N108 141 35251 SH SOLE 0 0 35251
ROYCE OTC MICRO-CAP FD INC COM COM 780915104 167 22394 SH SOLE 9801 0 12593
RUSS BERRIE & CO INC COM 782233100 6163 237600 SH SOLE 56050 0 181550
RUSS BERRIE & CO INC COM 782233100 488 18800 SH OTHER 0 0 18800
RUSS TOGS INC COM 782242200 0 10000 SH SOLE 10000 0 0
S & P 500 INDEX JUN 1100 OPTION - CALL 6488159FT 342 7 SH CALL SOLE 0 0 7
SAFECO CORP COM 786429100 813 20100 SH SOLE 4400 0 15700
SELECTIVE INS GROUP INC COM 816300107 270 15332 SH SOLE 4000 0 11332
SGV BANCORP INC COM COM 78422T102 1956 168300 SH SOLE 25900 0 142400
SIGCORP INC COM COM 826912107 719 26260 SH SOLE 3198 0 23062
SPHERE DRAKE CONTIN RT WARRANT AND RIGH 007SPHERE 84 167400 SH SOLE 23500 0 143900
SPHERE DRAKE CONTIN RT WARRANT AND RIGH 007SPHERE 15 30000 SH OTHER 0 0 30000
SPRINGS INDS INC COM COM 851783100 2947 108900 SH SOLE 31400 0 77500
ST JOSEPH LT & PWR CO COM 790654107 642 31400 SH SOLE 3500 0 27900
STATE AUTO FINL CORP COM 855707105 1383 127900 SH SOLE 13000 0 114900
STATE AUTO FINL CORP COM 855707105 389 36000 SH OTHER 0 0 36000
STEPAN CHEMICAL CO COM 858586100 2781 125000 SH SOLE 22400 0 102600
STEPAN CHEMICAL CO COM 858586100 380 17100 SH OTHER 0 0 17100
STRIDE RITE CORP COM COM 863314100 2911 237600 SH SOLE 62500 0 175100
STRIDE RITE CORP COM COM 863314100 257 21000 SH OTHER 0 0 21000
SUNOCO INC COM COM 86764P109 4203 116558 SH SOLE 35296 0 81262
TEEKAY SHIPPING CORP ORD COM V89564104 954 57800 SH SOLE 7600 0 50200
TEMPLETON EMERGING MKTS INCMCO MUTUAL FUNDS 880192109 1771 180500 SH SOLE 19100 0 161400
TOKIO MARINE & FIRE INS LTD AD FOREIGN COMMON S 889090403 735 13104 SH SOLE 0 0 13104
TOYS R US INC COM COM 892335100 2130 113200 SH SOLE 19000 0 94200
TRENWICK GROUP INC COM COM 895290104 425 15100 SH SOLE 7500 0 7600
U S CAP GROUP INC COM 911921104 0 19750 SH SOLE 0 0 19750
U S LIME & MINERALS INC COM COM 911922102 876 114930 SH SOLE 0 0 114930
UNION CAMP CORP COM 905530101 396 5900 SH SOLE 1800 0 4100
URSTADT BIDDLE PPTYS INC CL A COM 917286205 2691 333750 SH SOLE 68760 0 264990
URSTADT BIDDLE PPTYS INC COM COM 917286106 2772 360650 SH SOLE 80760 0 279890
USLIFE INCOME FD INC COM COM 917324105 323 33300 SH SOLE 0 0 33300
UTD PARCEL SVC OF AMER COM 911308104 1269 29509 SH SOLE 0 0 29509
VULCAN MATLS CO COM COM 929160109 855 20700 SH SOLE 0 0 20700
WAL MART STORES INC COM 931142103 258 2800 SH SOLE 0 0 2800
WEST PHARMACEUTICAL SVCS INCCO COM 955306105 433 13598 SH SOLE 5390 0 8208
WESTVACO CORP COM 961548104 4043 192500 SH SOLE 38500 0 154000
LINE COUNT: 154
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