UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
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: Trees Front Associates Incorporated
Address: 3 First National Plaza
Suite 4920
Chicago,IL 60602
13F File Number: 28-4680
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: Philip F. Lahey
Title: Principal
Phone: 312-641-9004
Signature, Place, and Date of Signing:
Philip F. Lahey Chicago, Illinois July 28, 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: 208
FORM 13F INFORMATION TABLE VALUE TOTAL: $1,436,939,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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<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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
A T & T CORP. COM 001957109 1255 22494 SH SOLE 22494 0 0
ABBOTT LABORATORIES COM 002824100 40243 886888 SH DEFINED 884488 2400 0
ABBOTT LABORATORIES COM 002824100 2360 52000 SH OTHER 1000 0 51000
AIR PRODUCTS & CHEMICALS INC COM 009158106 624 15492 SH DEFINED 14160 1332 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 1063 26400 SH OTHER 0 0 26400
AKZO N V SPONSORED ADR COM 010199305 225 5300 SH SOLE 5300 0 0
AKZO N V SPONSORED ADR COM 010199305 822 19400 SH OTHER 800 0 18600
ALCOA INC COM 013817101 1101 17800 SH OTHER 0 0 17800
ALLSTATE CORPORATION COM 020002101 423 11782 SH SOLE 11782 0 0
AMERICAN EXPRESS CO COM 025816109 2574 19780 SH SOLE 19780 0 0
AMERICAN EXPRESS CO COM 025816109 729 5602 SH OTHER 0 0 5602
AMERICAN HOME PRODUCTS CORPORA COM 026609107 5077 88488 SH SOLE 88488 0 0
AMERICAN HOME PRODUCTS CORPORA COM 026609107 218 3800 SH OTHER 2000 0 1800
AMERICAN INTERNATIONAL GROUP I COM 026874107 36772 313621 SH SOLE 313621 0 0
AMERITECH CORPORATION COM 030954101 3404 46308 SH SOLE 46308 0 0
AMERITECH CORPORATION COM 030954101 1573 21400 SH OTHER 1600 0 19800
AMGEN INC COM 031162100 1145 18812 SH SOLE 18812 0 0
AMGEN INC COM 031162100 1175 19300 SH OTHER 1600 0 17700
ARCHER DANIELS MIDLAND COM 039483102 709 45955 SH DEFINED 44774 1181 0
ARCHER DANIELS MIDLAND COM 039483102 715 46285 SH OTHER 2649 0 43636
AUTOMATIC DATA PROCESSING INC COM 053015103 594 13497 SH SOLE 13497 0 0
AVNET INC COM 053807103 623 13400 SH SOLE 13400 0 0
AVNET INC COM 053807103 698 15000 SH OTHER 0 0 15000
BANK OF AMERICA COM 060505104 1580 21557 SH SOLE 21557 0 0
BANK ONE CORP COM 06423A103 4362 73236 SH SOLE 73236 0 0
BANK ONE CORP COM 06423A103 3537 59386 SH OTHER 0 0 59386
BANKBOSTON CORP. COM 06605R106 261 5096 SH SOLE 5096 0 0
BARRICK GOLD CORPORATION COM 067901108 254 13100 SH OTHER 600 0 12500
BAUSCH & LOMB INC COM 071707103 201 2624 SH SOLE 2624 0 0
BELL ATLANTIC CORP COM 077853109 324 4958 SH SOLE 4958 0 0
BELLSOUTH CORP COM 079860102 593 12860 SH DEFINED 11260 1600 0
BP AMOCO PLC - ADR COM 055622104 4150 38253 SH SOLE 38253 0 0
BP AMOCO PLC - ADR COM 055622104 1133 10438 SH OTHER 0 0 10438
BRISTOL MYERS SQUIBB CO COM 110122108 1262 17920 SH SOLE 17920 0 0
BSCH BANCO SANTANDER COM 05964H105 1644 155664 SH SOLE 155664 0 0
BSCH BANCO SANTANDER COM 05964H105 1442 136476 SH OTHER 0 0 136476
BURLINGTON RESOURCES INC COM 122014103 210 4864 SH SOLE 4864 0 0
C V S CORPORATION COM 126650100 280 5517 SH SOLE 5517 0 0
CARDINAL HEALTH INC COM 14149Y108 327 5098 SH SOLE 5098 0 0
CATERPILLAR INC. COM 149123101 756 12600 SH OTHER 0 0 12600
CHASE MANHATTAN BANK COM 16161A108 35317 408289 SH SOLE 408289 0 0
CHEVRON CORP COM 166751107 1165 12260 SH SOLE 12260 0 0
CHUBB CORP COM 171232101 1125 16193 SH DEFINED 15593 600 0
CHUBB CORP COM 171232101 862 12400 SH OTHER 400 0 12000
CISCO SYSTEMS, INC COM 17275R102 82644 1281310 SH SOLE 1281310 0 0
CITIGROUP INC. COM 172967101 51367 1081401 SH SOLE 1081401 0 0
COBRA ELECTRONICS CORPORATION COM 191042100 1339 334698 SH SOLE 334698 0 0
COCA COLA CO COM 191216100 3224 51997 SH SOLE 51997 0 0
COLGATE PALMOLIVE CO COM 194162103 803 16302 SH SOLE 16302 0 0
COMCAST CORPORATION SPECIAL CL COM 200300200 1164 30276 SH SOLE 30276 0 0
COMPUTER SCIENCES CORPORATION COM 205363104 442 6391 SH SOLE 6391 0 0
DELTA AIRLINES INC COM 247361108 346 6000 SH OTHER 0 0 6000
DISNEY, WALT, COMPANY COM 254687106 424 13755 SH SOLE 13755 0 0
DOW CHEMICAL CORP COM 260543103 1612 12708 SH DEFINED 12258 450 0
DOW CHEMICAL CORP COM 260543103 2013 15867 SH OTHER 2124 0 13743
DU PONT E I DE NEMOURS CO COM 263534109 309 4524 SH SOLE 4524 0 0
DU PONT E I DE NEMOURS CO COM 263534109 615 9000 SH OTHER 0 0 9000
DUN & BRADSTREET CORPORATION COM 26483B106 210 5920 SH OTHER 0 0 5920
E M C CORPORATION COM 268648102 59817 1087573 SH SOLE 1087573 0 0
ELAN PLC ADR COM 284131208 27278 982978 SH SOLE 982978 0 0
ELAN PLC ADR COM 284131208 771 27800 SH OTHER 2000 0 25800
ELECTRONIC DATA SYSTEMS COM 285661104 1591 28100 SH SOLE 28100 0 0
ELECTRONIC DATA SYSTEMS COM 285661104 1104 19500 SH OTHER 1500 0 18000
EMERSON ELECTRIC CO COM 291011104 1304 20719 SH SOLE 20719 0 0
ENRON CORP COM 293561106 1529 18700 SH SOLE 18700 0 0
ENRON CORP COM 293561106 1651 20200 SH OTHER 0 0 20200
ENRON OIL & GAS COMPANY COM 293562104 737 36400 SH SOLE 36400 0 0
ENRON OIL & GAS COMPANY COM 293562104 504 24900 SH OTHER 2000 0 22900
ERICSSON, L M, TELEFON. ADR CL COM 294821400 29575 897906 SH SOLE 897906 0 0
EXXON CORP COM 302290101 3067 39767 SH SOLE 39767 0 0
EXXON CORP COM 302290101 1137 14736 SH OTHER 11024 0 3712
FASTENAL COMPANY COM 311900104 1065 20310 SH SOLE 20310 0 0
FEDERAL HOME LOAN MORTGAGE COR COM 313400301 383 6600 SH SOLE 6600 0 0
FEDERAL NATIONAL MORTGAGE ASSN COM 313586109 2855 41830 SH DEFINED 41030 800 0
FEDERAL NATIONAL MORTGAGE ASSN COM 313586109 1870 27400 SH OTHER 0 0 27400
FEDERAL SIGNAL CORP COM 313855108 1426 67317 SH DEFINED 59872 7445 0
FEDERAL SIGNAL CORP COM 313855108 840 39666 SH OTHER 3866 0 35800
FIRST DATA CORP COM 319963104 313 6400 SH SOLE 6400 0 0
FIRST UNION CORP COM 337358105 937 19890 SH DEFINED 18558 1332 0
FIRSTAR CORPORATION COM 33763V109 393 14038 SH SOLE 14038 0 0
FORD MOTOR COMPANY COM 345370100 276 4893 SH SOLE 4893 0 0
G T E CORPORATION COM 362320103 2557 33873 SH DEFINED 33027 846 0
GANNETT COMPANY, INC. COM 364730101 268 3750 SH SOLE 3750 0 0
GANNETT COMPANY, INC. COM 364730101 243 3400 SH OTHER 0 0 3400
GENERAL ELECTRIC COMPANY COM 369604103 59897 530059 SH DEFINED 524859 5200 0
GENERAL ELECTRIC COMPANY COM 369604103 7503 66400 SH OTHER 5400 0 61000
GENERAL MOTORS CORP COM 370442105 226 3420 SH SOLE 3420 0 0
GENERAL MOTORS CORP - CLASS H COM 370442832 1222 21700 SH SOLE 21700 0 0
GENERAL MOTORS CORP - CLASS H COM 370442832 507 9000 SH OTHER 1000 0 8000
GEORGIA PACIFIC CORPORATION COM 373298108 569 12000 SH OTHER 0 0 12000
GILLETTE CO COM 375766102 21438 522889 SH SOLE 522889 0 0
HALLIBURTON CO COM 406216101 1098 24270 SH SOLE 24270 0 0
HEINZ, H J COMPANY COM 423074103 226 4500 SH SOLE 4500 0 0
HEWLETT PACKARD CO COM 428236103 938 9333 SH SOLE 9333 0 0
HOME DEPOT INC COM 437076102 46536 722195 SH SOLE 722195 0 0
HONEYWELL INC COM 438506107 600 5180 SH SOLE 5180 0 0
HOUSEHOLD INTERNATIONAL INC COM 441815107 29090 614029 SH SOLE 614029 0 0
HOUSEHOLD INTERNATIONAL INC COM 441815107 971 20500 SH OTHER 1500 0 19000
HSBC HOLDINGS, PLC, ADR COM 404280307 729 1975 SH SOLE 1975 0 0
I M S HEALTH INCORPORATED COM 449934108 380 12145 SH SOLE 12145 0 0
I M S HEALTH INCORPORATED COM 449934108 370 11840 SH OTHER 0 0 11840
ILLINOIS TOOL WORKS INC COM 452308109 45988 562548 SH SOLE 562548 0 0
ILLINOIS TOOL WORKS INC COM 452308109 368 4500 SH OTHER 3800 0 700
IMPERIAL OIL, LTD. COM 453038408 341 18000 SH OTHER 0 0 18000
INTEL CORP COM 458140100 71463 1201053 SH SOLE 1201053 0 0
INTEL CORP COM 458140100 1250 21000 SH OTHER 1000 0 20000
INTERNATIONAL BUSINESS MACHINE COM 459200101 12769 98794 SH DEFINED 96526 2268 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 1499 11600 SH OTHER 1000 0 10600
JOHNSON & JOHNSON COM 478160104 5475 55870 SH SOLE 55870 0 0
JOHNSON & JOHNSON COM 478160104 980 10000 SH OTHER 0 0 10000
KIMBERLY CLARK CORP COM 494368103 1271 22300 SH SOLE 22300 0 0
KIMBERLY CLARK CORP COM 494368103 990 17364 SH OTHER 6864 0 10500
LILLY, ELI AND COMPANY COM 532457108 27836 388634 SH SOLE 388634 0 0
LILLY, ELI AND COMPANY COM 532457108 992 13852 SH OTHER 0 0 13852
LUCENT TECHNOLOGIES INC COM 549463107 2440 36175 SH SOLE 36175 0 0
M B N A CORPORATION COM 55262L100 503 16428 SH SOLE 16428 0 0
M C I WORLDCOM COM 55268B106 53165 617744 SH SOLE 617744 0 0
MARSHALL & ILSLEY CORPORATION COM 571834100 555 8623 SH SOLE 8623 0 0
MATTEL INC COM 577081102 839 32106 SH SOLE 32106 0 0
MATTEL INC COM 577081102 692 26500 SH OTHER 2500 0 24000
MC DONALD'S CORP COM 580135101 822 19992 SH SOLE 19992 0 0
MEDTRONIC INC COM 585055106 25605 328794 SH SOLE 328794 0 0
MELLON BANK CORPORATION COM 585509102 30823 847364 SH SOLE 847364 0 0
MERCANTILE BANCORPORATION COM 587342106 328 5748 SH SOLE 5748 0 0
MERCK & CO COM 589331107 8831 119951 SH DEFINED 116051 3900 0
MERCK & CO COM 589331107 1266 17200 SH OTHER 0 0 17200
MICROSOFT CORP COM 594918104 84967 942113 SH SOLE 942113 0 0
MILLER, HERMAN, INC. COM 600544100 968 46100 SH SOLE 46100 0 0
MILLER, HERMAN, INC. COM 600544100 567 27000 SH OTHER 2000 0 25000
MINNESOTA MINING & MANUFACTURI COM 604059105 626 7200 SH DEFINED 6600 600 0
MINNESOTA MINING & MANUFACTURI COM 604059105 730 8400 SH OTHER 400 0 8000
MOBIL CORP COM 607059102 637 6450 SH SOLE 6450 0 0
MOBIL CORP COM 607059102 296 3000 SH OTHER 2600 0 400
MOLEX INC COM 608554101 232 6259 SH SOLE 6259 0 0
MOLEX INC COM 608554101 551 14904 SH OTHER 0 0 14904
MOLEX, INC., CLASS A COM 608554200 2323 73749 SH SOLE 73749 0 0
MOLEX, INC., CLASS A COM 608554200 851 27029 SH OTHER 2000 0 25029
MONSANTO COMPANY COM 611662107 21774 550378 SH SOLE 550378 0 0
MORGAN J.P. & CO INC COM 616880100 480 3417 SH DEFINED 2717 700 0
MORGAN J.P. & CO INC COM 616880100 1517 10800 SH OTHER 300 0 10500
MORGAN STANLEY, DEAN WITTER & COM 617446448 569 5541 SH SOLE 5541 0 0
MOTOROLA INC COM 620076109 1864 19675 SH DEFINED 19075 600 0
MOTOROLA INC COM 620076109 1402 14800 SH OTHER 0 0 14800
MUTUAL RISK MANAGEMENT, LTD COM 628351108 521 15600 SH SOLE 15600 0 0
MUTUAL RISK MANAGEMENT, LTD COM 628351108 890 26662 SH OTHER 0 0 26662
NESTLE SA ADR COM 641069406 478 5300 SH OTHER 600 0 4700
NEWS CORPORATION, LTD., A D R COM 652487802 669 21200 SH OTHER 0 0 21200
NORTHERN TRUST CORPORATION COM 665859104 10417 107388 SH SOLE 107388 0 0
NORTHERN TRUST CORPORATION COM 665859104 5432 56000 SH OTHER 9000 0 47000
NOVARTIS AG - ADR COM 66987V109 921 12450 SH SOLE 12450 0 0
NUCOR CORP COM 670346105 457 9640 SH SOLE 9640 0 0
NUCOR CORP COM 670346105 436 9200 SH OTHER 300 0 8900
OLD KENT FINANCIAL CORP COM 679833103 483 11542 SH SOLE 11542 0 0
PALL CORP COM 696429307 207 9350 SH SOLE 9350 0 0
PEPSICO INC COM 713448108 26380 681865 SH SOLE 681865 0 0
PFIZER INC COM 717081103 39276 1080984 SH DEFINED 1071384 9600 0
PFIZER INC COM 717081103 2361 64980 SH OTHER 0 0 64980
PHILIP MORRIS COS INC COM 718154107 557 13850 SH SOLE 13850 0 0
POTLATCH CORP COM 737628107 641 14600 SH SOLE 14600 0 0
PRAXAIR INC COM 74005P104 800 16350 SH SOLE 16350 0 0
PRAXAIR INC COM 74005P104 538 11000 SH OTHER 1000 0 10000
PRICE, T ROWE, & ASSOCIATES IN COM 741477103 591 15388 SH SOLE 15388 0 0
PROCTER & GAMBLE COMPANY COM 742718109 3493 39140 SH SOLE 39140 0 0
PROGRESSIVE CORPORATION COM 743315103 334 2300 SH DEFINED 1500 800 0
PROGRESSIVE CORPORATION COM 743315103 798 5500 SH OTHER 900 0 4600
QUAKER OATS CO COM 747402105 445 6700 SH SOLE 6700 0 0
REUTERS GROUP PLC - ADR COM 76132M102 309 3812 SH SOLE 3812 0 0
ROCHE HOLDINGS, LTD., ADR COM 771195104 20542 195641 SH SOLE 195641 0 0
ROYAL DUTCH PETROLEUM CO - N Y COM 780257804 757 12560 SH SOLE 12560 0 0
S B C COMMUNICATIONS, INC COM 78387G103 927 15991 SH SOLE 15991 0 0
S P X CORPORATION COM 784635104 29070 348140 SH SOLE 348140 0 0
SAFECO CORP COM 786429100 331 7500 SH SOLE 7500 0 0
SARA LEE CORP COM 803111103 631 27820 SH SOLE 27820 0 0
SARA LEE CORP COM 803111103 631 27800 SH OTHER 0 0 27800
SCHERING PLOUGH CORP COM 806605101 1947 37092 SH SOLE 37092 0 0
SCHLUMBERGER, LTD. COM 806857108 374 5866 SH DEFINED 5200 666 0
SCHLUMBERGER, LTD. COM 806857108 5101 80100 SH OTHER 400 0 79700
SCHNADIG CORPORATION COM 666666666 5000 100000 SH SOLE 100000 0 0
SERVICEMASTER COMPANY COM 81760N109 2122 113181 SH SOLE 113181 0 0
SERVICEMASTER COMPANY COM 81760N109 2113 112715 SH OTHER 3000 0 109715
SERVICEMASTER LIMITED PARTNERS COM 8176151ZR 0 13594 SH DEFINED 6000 7594 0
SMITHKLINE BEECHAM PLC COM 832378301 229 3468 SH SOLE 3468 0 0
SNAP-ON INCORPORATED COM 833034101 568 15700 SH SOLE 15700 0 0
SNAP-ON INCORPORATED COM 833034101 615 17000 SH OTHER 1000 0 16000
ST PAUL COMPANIES INC COM 792860108 260 8160 SH SOLE 8160 0 0
ST. PAUL BANCORP INC COM 792848103 719 28180 SH DEFINED 23961 4219 0
STANLEY WORKS COM 854616109 258 8000 SH SOLE 8000 0 0
SUN MICROSYSTEMS INC COM 866810104 568 8250 SH SOLE 8250 0 0
SUNTRUST BANKS, INC. COM 867914103 479 6900 SH SOLE 6900 0 0
SYSCO CORPORATION COM 871829107 221 7424 SH SOLE 7424 0 0
TEXACO INC COM 881694103 411 6593 SH SOLE 6593 0 0
TIME WARNER INC COM 887315109 27218 374770 SH SOLE 374770 0 0
TRIBUNE CO COM 896047107 1115 12800 SH OTHER 0 0 12800
TYCO INTERNATIONAL LTD COM 902124106 28228 297925 SH SOLE 297925 0 0
UNUM CORP COM 903192102 35073 640605 SH SOLE 640605 0 0
VISHAY INTERTECHNOLOGY COM 928298108 390 18593 SH SOLE 18593 0 0
VODAFONE AIRTOUCH PLC ADR COM 92857T107 48935 248403 SH DEFINED 247203 1200 0
VODAFONE AIRTOUCH PLC ADR COM 92857T107 3319 16850 SH OTHER 750 0 16100
WAL MART STORES, INC. COM 931142103 2439 50549 SH SOLE 50549 0 0
WALGREEN CO COM 931422109 36628 1246894 SH DEFINED 1240494 6400 0
WASTE MANAGEMENT INC COM 94106L109 23211 431835 SH SOLE 431835 0 0
WELLS FARGO NEW COM 949746101 1051 24587 SH SOLE 24587 0 0
WELLS FARGO NEW COM 949746101 1783 41700 SH OTHER 0 0 41700
WEYERHAEUSER CO COM 962166104 8127 118218 SH SOLE 118218 0 0
WILLAMETTE INDUSTRIES, INC. COM 969133107 757 16430 SH SOLE 16430 0 0
XEROX CORP COM 984121103 1901 32178 SH SOLE 32178 0 0
Y P F SOCIEDAD ANONIMA SA D CV COM 984245100 369 9700 SH DEFINED 9100 600 0
YORK INTL CORP NEW COM COM 986670107 432 10100 SH OTHER 0 0 10100
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