UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
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                                 FORM 10-Q/A-1
(MARK ONE)

          (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                  For the Quarterly Period Ended June 30, 1998

                                       OR

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

                 For the transition period from _____ to _____

                         Commission File Number 0-5127
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                       MERCANTILE BANKSHARES CORPORATION
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             (Exact name of registrant as specified in its charter)

<TABLE>
<S><C>
                           MARYLAND                                                       52-0898572
                 ---------------------------                                             ------------
               (State or other jurisdiction of                                         (I.R.S. Employer
                incorporation or organization)                                       Identification No.)

             2 Hopkins Plaza, Baltimore, Maryland                                           21201
             -----------------------------------                                            -----
           (Address of principal executive offices)                                       (Zip code)
</TABLE>

                                 (410) 237-5900
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              (Registrant's telephone number, including area code)

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   (Former name, former address and former fiscal year, if changed since last
                                    report)

     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 (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  X. No   .
                                              ---    ---

                     APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practical date.

As of July 31, 1998, registrant had outstanding 71,681,597 shares of Common
Stock.

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ITEM 5. OTHER INFORMATION

     The Registrant's quarterly report on Form 10-Q for the period ended June
30, 1998, contained in Item 5 a description of certain matters concerning the
1999 Annual Meeting of Stockholders. The second paragraph of Item 5 contained an
error. The January 27, 1998 date in that paragraph should be January 27, 1999.
The following is the full text of Item 5, as amended to correct that date and to
clarify the applicability of the due date of February 27, 1999.

     The information presented here relates to the 1999 Annual Meeting of
Stockholders of the Registrant, as affected by recent amendments to Rule 14a-4
and Rule 14a-8 promulgated by the Securities and Exchange Commission under the
Securities Exchange Act of 1934.

     The 1999 Annual Meeting of Stockholders of the Registrant is expected to be
held on April 28, 1999. The deadline in the Registrant's Bylaws for giving
notice (in the form and with the content specified in the Bylaws) to the
Registrant of any proposal to be presented at the meeting by any stockholder,
outside the process of Rule 14a-8, is February 27, 1999, the 60th day before the
meeting. (Under the Bylaws, such notice should be submitted no earlier than
January 28, 1999, the 90th day before the meeting). To be timely, the notice
must be addressed to the Secretary, Mercantile Bankshares Corporation, Two
Hopkins Plaza, Baltimore, Maryland 21201, and must be received by the Secretary
after January 27, 1999 and on or before the due date of February 27, 1999. If
timely notice of the proposal is not given, the proposal may not be considered
at the meeting.

     In addition, in the case of a stockholder proposal to be presented at the
1999 Annual Meeting, outside the process of Rule 14a-8, amended Rule 14a-4(c)
permits the Registrant to exercise discretionary proxy voting authority on the
proposal without limitation unless the stockholder gives the Registrant a timely
notice of the proposal. Under the Rule, the 1999 required notice date is the
date corresponding to the 45th day prior to mailing of the Registrant's proxy
materials for its 1998 annual meeting. Accordingly, the required notice date
will be February 10, 1999. If, on or before that date, notice of the proposal is
not received by the Secretary at the address set forth above, the Registrant may
vote on the proposal under the general discretionary authority granted in its
proxies, without discussion of the proposal in its proxy materials. Timely
notices submitted under Rule 14a-4(c), containing specified information, can in
certain circumstances require the Registrant to comment on a proposal in its
proxy materials or to vote its proxies on the proposal only where specific
voting authority is given.

     For information concerning notice of any proposals to be made under Rule
14a-8, please refer to the Registrant's Proxy Statement dated March 27, 1998.


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                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                         MERCANTILE BANKSHARES CORPORATION

November 10, 1998                        Principal Executive Officer

                                         /s/ H. Furlong Baldwin
                                         ______________________
                                         By: H. Furlong Baldwin
                                         Chairman of the Board and
                                         Chief Executive Officer


November 10, 1998                        Principal Financial Officer

                                         /s/ Terry L. Troupe
                                         ___________________
                                         By: Terry L. Troupe
                                         Chief Financial Officer


November 10, 1998                        Chief Accounting Officer

                                         /s/ Jerry F. Graham
                                         ___________________
                                         By: Jerry F. Graham
                                         Vice President and Controller