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: Ariel Capital Management, Inc.
Address: 307 N. Michigan Ave.
Suite 500
Chicago, IL 60601
13F File Number: 801-18767
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: Cheryl Cargie
Title: Vice President, Head Trader
Phone: 312-726-0140
Signature, Place, and Date of Signing:
Cheryl Cargie Chicago, Illinois August 5, 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.
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FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 57
FORM 13F INFORMATION TABLE VALUE TOTAL: $3,087,808,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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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
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- ---------------
ALLERGAN INC COM 18490102 17849 160800 SH SOLE 160800 0 0
AVERY DENNISON CORP COM 53611109 5719 94720 SH SOLE 94720 0 0
BAUSCH & LOMB INC COM 71707103 2295 30000 SH SOLE 30000 0 0
BERLITZ INTL INC NEW COM 08520F100 985 53600 SH SOLE 53600 0 0
BOB EVANS FARMS COM 96761101 97716 4916505 SH SOLE 4854605 0 61900
BRADY CORP COM 104674106 139782 4300980 SH SOLE 4249280 0 51700
CARNIVAL CRUISE LINE COM 143658102 20360 419800 SH SOLE 419800 0 0
CENTRAL NEWSPAPERS INC COM 154647101 156168 4164484 SH SOLE 4114884 0 49600
"CENTURYTEL, INC" COM 156700106 88054 2215204 SH SOLE 2195004 0 20200
CINCINNATI BELL INC COM 171870108 698 28000 SH SOLE 28000 0 0
CLOROX CO COM 189054109 14992 140360 SH SOLE 140360 0 0
DAY RUNNER INC COM 239545106 25674 2074665 SH SOLE 2048465 0 26200
DEPARTMENT 56 INC COM COM 249509100 82682 3076545 SH SOLE 3036445 0 40100
ECOLAB INC COM COM 278865100 45755 1048825 SH SOLE 1037025 0 11800
EQUIFAX INC COM 294429105 19865 556635 SH SOLE 556635 0 0
FRANKLIN RES INC COM 354613101 13908 342350 SH SOLE 342350 0 0
GALILEO INTL INC COM COM 363547100 22870 427985 SH SOLE 427985 0 0
GALLAGHER ARTHUR J & CO COM 363576109 27437 554280 SH SOLE 547580 0 6700
GENERAL BINDING CORP COM 369154109 62474 2658486 SH SOLE 2624986 0 33500
GRACO INC COM COM 384109104 24061 819095 SH SOLE 806695 0 12400
GREY ADVERTISING INC COM 397838103 47043 141271 SH SOLE 139471 0 1800
HARTE-HANKS COMM, INC. COM 416196103 8518 314030 SH SOLE 314030 0 0
HASBRO BRADLEY INC COM 418056107 131771 4716652 SH SOLE 4669752 0 46900
HON INDS INC COM COM 438092108 817 28000 SH SOLE 28000 0 0
HORACE MANN EDUCATORS COM 440327104 34593 1272375 SH SOLE 1254275 0 18100
HOUGHTON MIFFLIN CO COM 441560109 16957 360300 SH SOLE 360300 0 0
HUNT CORP COM 445591100 13786 1671080 SH SOLE 1671080 0 0
HUSSMANN INTL INC COM 448110106 37627 2271801 SH SOLE 2242601 0 29200
IDEX CORP COM 45167R104 96389 2931975 SH SOLE 2891475 0 40500
"INTERFACE , INC. CL A" COM 458665106 74342 8619360 SH SOLE 8514560 0 104800
INTERNATIONAL GAME TECH COM 459902102 113328 6125830 SH SOLE 6051930 0 73900
LEE ENTERPRISES INC COM 523768109 132186 4333980 SH SOLE 4285980 0 48000
LEGGETT & PLATT INC COM 524660107 106289 3821640 SH SOLE 3779140 0 42500
LIBBEY INC COM 529898108 90408 3117525 SH SOLE 3078525 0 39000
LITTELFUSE INC COM COM 537008104 66678 3463810 SH SOLE 3426910 0 36900
LONGS DRUG STORES INC COM 543162101 102766 2973335 SH SOLE 2937835 0 35500
MBIA INC COM 55262C100 156847 2422345 SH SOLE 2394945 0 27400
MBNA CORP COM 55262L100 16822 549295 SH SOLE 549295 0 0
MCCORMICK & CO INC COM 579780206 108935 3451410 SH SOLE 3410210 0 41200
MELLON BANK CORP COM 585509102 1837 50500 SH SOLE 50500 0 0
MILLER HERMAN INC COM 600544100 98207 4676500 SH SOLE 4621300 0 55200
NORTHERN TRUST CORP COM 665859104 14456 149030 SH SOLE 149030 0 0
OIL DRI CORP AMER COM 677864100 643 40200 SH SOLE 40200 0 0
OMNICOM GROUP COM 681919106 11916 148945 SH SOLE 148945 0 0
ORION CAP CORP COM 686268103 63696 1775485 SH SOLE 1750685 0 24800
PITNEY BOWES INC COM 724479100 8265 128635 SH SOLE 128635 0 0
ROUSE CO. COM 779273101 154158 6075185 SH SOLE 6006285 0 68900
SABRE GROUP HLDGS COM 785905100 1444 21000 SH SOLE 21000 0 0
SHOREWOOD PACKAGING COM 825229107 103067 5590072 SH SOLE 5524972 0 65100
SPECIALTY EQUIP COS INC COM 847497203 160555 5454100 SH SOLE 5394400 0 59700
SYBRON CORP DEL COM COM 87114F106 21520 780775 SH SOLE 780775 0 0
TRIBUNE CO COM 896047107 14225 163275 SH SOLE 163275 0 0
TRUE NORTH COMMUNICAT COM 897844106 26991 907265 SH SOLE 895365 0 11900
WESLEY JESSEN VISION COM 951018100 49916 1541795 SH SOLE 1522095 0 19700
WHITMAN CORP NEW COM COM 96647R107 118265 6570250 SH SOLE 6500350 0 69900
XL CAPITAL LTD CL A COM G98255105 12286 217460 SH SOLE 217460 0 0
YOUNG & RUBICAM INC COM 987425105 915 20135 SH SOLE 20135 0 0
LINE COUNT: 57
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