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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549

                                  FORM 10-K/A

  (Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                  For the fiscal year ended December 31, 1998

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                         Commission file number 1-12147

                           DELTIC TIMBER CORPORATION
             (Exact name of registrant as specified in its charter)

                Delaware                          71-0795870
(State or other jurisdiction           (I.R.S. Employer Identification
of incorporation or organization)                   Number)

  210 East Elm Street, P. O. Box 7200,              71731-7200
  El Dorado, Arkansas                               (Zip Code)
  (Address of principal executive offices)

      Registrant's telephone number, including area code:  (870) 881-9400

  Securities registered pursuant to Section 12(b) of the Act:


            Title of each class               Name of each exchange on which
                                              registered

     Common Stock, $.01 Par Value             New York Stock Exchange, Inc.

     Series A Participating Cumulative        New York Stock Exchange, Inc.
     Preferred Stock Purchase Rights

  Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months, and (2) has been subject to such filing requirements
for the past 90 days.   Yes  X    No ____.
                            ---

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  [X]

The aggregate market value of the Common Stock held by non-affiliates of the
registrant, based on the average of the high and low prices of the Common Stock
on the New York Stock Exchange on February 26, 1999, was $184,446,598. For
purposes of this computation, all officers, directors, and 5% beneficial owners
of the registrant (as indicated in Item 12) are deemed to be affiliates.  Such
determination should not be deemed an admission that such directors, officers,
or 5% beneficial owners are, in fact, affiliates of the registrant.

Number of shares of Common Stock, $.01 Par Value, outstanding at February 28,
1999, was 12,776,779.

                      Documents incorporated by reference:

The Registrant's definitive Proxy Statement relating to the Annual Meeting of
Stockholders on April 29, 1999.


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