SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C.  20549


                              FORM 10-QSB



            QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934

 For Quarter Ended June 30, 1999    Commission File No. 001-10156


                ORIGINAL SIXTEEN TO ONE MINE, INC.
     (Exact name of registrant as specified in its charter)



            CALIFORNIA                             94-0735390
  (State or other jurisdiction of              (I.R.S. Employer
   incorporated or organization)              Identification No.)

             Post Office Box 1621, Alleghany, CA  95910
              (Address of principal executive offices)


                            (530) 287-3223
                   (Registrant's telephone number)
                        (including area code)

Indicate by check mark whether the Registrant (1) has filed all reports
requiredto be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the past 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing
requirement for the past 90 days.

                   Yes:    X                 No:



As of June 30, 1999, 3,572,765 shares of Common Stock, par value $.10 per share,
were issued and outstanding.
<PAGE>

PART I:  FINANCIAL INFORMATION

                 Original Sixteen to One Mine, Inc.
                      Condensed Balance Sheet
                June 30, 1999 and December 31, 1998


ASSETS
                                June 30, 1999   December 31, 1998
                                -------------   -----------------
Current Assets:

Cash                             $       486       $   25,338
Accounts Receivable - trade           38,612           24,931
Accounts Receivable - employees        7,679           24,982
Inventory                            422,698          414,246
Other Current Assets                  13,747           14,677
                                  -----------      -----------
     Total Current Assets            483,222          504,174
                                  -----------      -----------

Mining Property:

Real Estate & Property Rights
  net of depletion of $524,145       182,091          182,091
Mineral Property                     415,263          415,263
Development Costs, net               799,144          799,144
                                   ----------       ----------
                                   1,396,498        1,396,498
                                   ----------       ----------

Fixed Assets:

Equipment                            861,857          861,857
Buildings                            170,721          170,721
Vehicles                             188,540          188,540
                                   ----------       ----------
                                   1,221,118        1,221,118
Less: Accumulated Depreciation      (970,229)        (916,229)
                                   ----------       ----------
     Net Fixed Assets                250,889          304,889
                                   ----------       ----------
Other Assets
  net of amortization of
  $53,506 and $49,163 in
  1999 and 1998, respectively         17,314            21,657
                                   ----------        ----------

TOTAL ASSETS                     $ 2,147,923       $ 2,227,218
                                  ===========       ===========


                     See Accompanying Notes

                                2

<PAGE>
PART I:  FINANCIAL INFORMATION

                    Original Sixteen to One Mine, Inc.
                          Condensed Balance Sheet
                   June 30, 1999 and December 31, 1998


LIABILITIES & STOCKHOLDERS' EQUITY

                                June 30, 1999   December 31, 1998
                                -------------   -----------------
Current Liabilities:

Accounts payable and
  accrued compensation            $   259,128        $   201,206
Notes payable to related parties      302,600            302,600
Notes payable due within
  one year                            285,391            294,027
                                    ----------         ----------
     Total Current Liabilities        847,119            797,833
                                    ----------         ----------

Notes payable due after one year        1,619              2,501
                                    ----------         ----------
     Total Liabilities                848,738            800,334
                                    ----------         ----------

Stockholders' Equity:

Capital Stock, par value $.10
  10,000 shares authorized;
  3,572,765 and 3,544,065 shares
  issued & outstanding as of
  June 30, 1999 and December 31,
  1998, respectively                  357,277            354,407
Additional paid-in capital          1,395,670          1,373,540
Notes receivable from employees       (26,000)           (26,000)
(Retained deficit)                   (427,762)          (275,063)
                                   -----------        -----------
     Total Stockholders' Equity     1,299,185          1,426,884
                                   -----------        -----------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY            $ 2,147,923        $ 2,227,218
                                   ===========        ===========



                       See Accompanying Notes

                                 3

<PAGE>
PART I:  FINANCIAL INFORMATION

                       Original Sixteen to One Mine, Inc.
                             Statement of Operations

                          Three Months Ending     Six Months Ending
                          6/30/99     6/30/98     6/30/99   6/30/98
                         --------    --------     -------   -------
Revenue:
Gold & jewelry sales    $  107,701 $ 294,562  $  527,910  $ 656,997

Expenses:
Salaries and wages          27,741   381,551     286,259    807,794
Depreciation & amortization
  of fixed assets           29,896    38,040      58,344     62,790
Amortization of
  development costs              0     8,150           0     19,142
Contract labor              55,215     1,971      90,547      4,732
Telephone and utilities     15,448    36,009      42,378     68,189
Property taxes & permit
  fees                      15,455    11,576      27,962     24,437
Insurance                   11,034    23,533      21,933     36,300
Supplies                     6,771    44,448      33,925     98,547
Drayage                      5,353    12,652      11,705     28,723
Fairs & promotional             90     1,873         605      3,243
Legal and accounting        24,670    22,095      38,319     41,597
Other expenses              13,332    24,586      30,276     47,625
                          --------   -------    --------   --------
     Total Expenses        205,005   606,484     642,253  1,243,119
                          --------   -------   ---------  ---------

Loss from Operations       (97,304) (311,922)   (114,343)  (586,122)


Other Income & (Expense):  (23,633)  (10,498)    (38,354)    11,200
                           --------  --------    --------   --------
Loss Before Taxes         (120,937) (322,420)   (152,697)  (574,922)

Provision for Income Tax         0    (1,671)          0     (2,171)
                           --------   -------    -------   --------
Net Loss                 $(120,937) $(324,091) $(152,697) $(577,093)
                         =========  =========             =========

(Retained deficit)
  December 31, 1998                            $(275,065)
                                               ---------
(Retained deficit)
  June 30, 1999                                $(427,762)
                                               =========

Loss Per Share              $(0.03)    $(0.13)    $(0.04)    $(0.16)
                             -----      -----      -----      -----
                         See Accompanying Notes

                                    4

<PAGE>
PART I:  FINANCIAL INFORMATION

                    Original Sixteen to One Mine, Inc.
                          Statement of Cash Flows

                                        Six Months Ended June 30,
                                          1999           1998
                                         ------         ------
Cash Flows From Operating Activities:
Net loss                               $ (152,699)    $ (577,093)
Adjustments to reconcile net loss to
  net cash provided by operating
  activities:
    Depreciation and amortization         58,343         81,932
    Decrease in accounts receivable        3,622         45,065
    (Increase)Decrease in inventory       (8,452)        90,930
    (Increase) decrease in other
      current assets                         930          6,895
    Increase in accounts payable &
       accrued compensation               57,922         35,615
    Increase in accrued expenses               0          7,680
    Decrease in corporate
      income taxes payable                     0              0
                                        --------      ---------
  Net cash provided by
    operating activities                 (40,334)      (308,976)
                                        --------      ---------
Cash Flows From Investing Activities:
  Proceeds from sale of fixed assets           0              0
  Purchase of fixed assets                     0         (5,875)
  Payments made for development                0              0
                                         --------     ---------
  Net cash provided used
    by investing activities                    0         (5,875)
                                         --------     ---------
Cash Flows From Financing Activities:
  Payments made on notes payable           (9,518)       (2,270)
  Payments received on notes
    receivable from employees                   0             0
  Payments made to employees for advance
     made to the company                        0             0
  Proceeds from additional borrowings           0       281,482
  Proceeds from sales of common stock      25,000             0
  Repurchase & retirement of common stock       0             0
                                          -------      --------
  Net cash used by financing activities    15,482       279,212
                                          --------    ---------
Net Increase (Decrease) in Cash           (24,852)      (35,639)
Cash, beginning of year                    25,338        64,452
                                         --------     ---------
Cash, end of period                     $     486    $   28,813
                                         =========   ==========
Supplemental Schedule of Other Cash Flows:
  Cash paid during the period for:
    Interest expense                    $  14,285     $    8,886
                                         =========    ==========
    Income taxes                        $       0     $        0
                                         =========    ==========
                          See Accompanying Notes
                                     5
<PAGE>
PART I:  FINANCIAL INFORMATION

                     Original Sixteen to One Mine, Inc.
                        Notes to Financial Statements

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NATURE OF BUSINESS

Original Sixteen to One Mine, Inc., owns and operates mining claims in Sierra
and Trinity Counties located in Northern California.


REVENUE

Revenue primarily consists of gold and silver mined during the reporting period,
either sold during the period or held in inventory.  Revenue does not include
unprocessed high-grade ore mined during the reporting period.  (Jewelry and gold
specimen sales may include a premium over the quoted market price of gold.  Such
premiums are recognized at the date of sale.)


INVENTORY

Inventory consists of gold bullion, dore, specimens and jewelry.  Inventory is
recorded at the spot price per ounce on the balance sheet date.


FIXED ASSETS

Fixed assets are stated at historical cost.  Depreciation is calculated using
straight-line and accelerated methods over the following estimated useful lives:
                Vehicles            3 to 5 years
                Equipment           5 to 7 years
                Buildings           18 to 31.5 years


DEPLETION POLICY

The Company has established a depletion policy for its mineral and mining
properties.  Because of the geological formation in the Alleghany Mining
District, estimates of ore reserves cannot be calculated; therefore, a cost per
unit depletion factor cannot be determined.  Management has determined that a
straight-line method of depletion over a 25 year period would most accurately
match the estimated production of the mining properties (see Note 2).  If
estimates of ore reserves become available, the units of production method of
depletion will be used.


DEVELOPMENT

In February 1994, the Company began development of the 2483 winze into un-
explored ground.  Costs associated with the development have been capitalized.
Development was complete at December 1996.  Based upon previous mine experience,
management estimates that gold production from the new winze will approximate
50,000 ounces.  Accordingly, capitalized development costs are being amortized
using the units of production method.


INCOME TAXES

Differences exist between the amount of income or loss reported for financial
statements and income tax reporting purposes.  These differences are
attributable to the use of the cash basis reporting of more revenues and
accelerated depreciation and depletion methods for income tax purposes.  No
provision for income taxes, with the exception of state minimum income tax, has
been made in the current year because of the uncertainty of revenues for the
remainder of the year.


NET GAIN OR LOSS PER SHARE

Net gain or loss per share has been computed using the common shares outstanding
at end of reporting period.  The Company's stock equivalents have been excluded
from the calculation of shares outstanding.


NOTE 2 - MINING PROPERTY

The Company's original mining property is carried on the books at its March 1,
1913, value of $379,000 as determined for depletion purposes in connection with
Federal income taxes.  This value together with the cost of mining properties
acquired in 1920 and 1924 for the aggregated sum of $145,145 has been fully
amortized through depletion charges.  During 1994, the Company purchased mining
properties at a cost of $300,000, and capitalized $86,633 in legal costs.  These
legal costs were incurred in defense of certain mining claims.


NOTE 3 - INCOME TAXES

For Federal income tax purposes, the Company has operating loss carryforwards
which may provide future tax benefits, expiring as follows:

             Year of Expiration

                     2006                   $345,753
                     2007                     48,562
                                            --------
                                            $394,315
                                            ========

For California State income taxes, the Company has no operating loss
carryforwards.


NOTE 4 - NOTES PAYABLE

The Company has a note payable to the bank amounting to $5,588, bearing interest
at 9.95% and secured by a Chevrolet Astro Van.  The note is payable in 60 month-
ly installments of $442 through July, 2000.  A third party has assumed the note;
however, the lender has not released the company from potential responsibility
for payment.

At June 30, 1998, the Company has a fully extended revolving line of credit in
the amount of $200,000 secured by accounts receivable and inventory; with
interest only payments due commencing March 1, 1999, with principal and interest
due September 30, 1999.  Interest is at the bank's prime rate plus 2.5% (10.25%
at June 30, 1999).

The Company has a note payable to the bank in the amount of $82,210 secured by
accounts receivable and inventory; due in monthly installments of $2,090
including interest; interest due monthly at the bank's prime rate plus 2%
(10.75% at June 30, 1999).



PART II:  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                  CONDITIONS AND RESULTS OF OPERATION

On February 12, 1999, the Company significantly altered its mining operation.
Forty employees were terminated.  Fourteen returned as independent contractors.
Compensation was based upon a percentage of the gold mined and sold.  On June
30, 1999, eight former employees remained as independent contractors.  The scope
of mining activities was reduced.  Emphasis was placed on short term underground
headings most likely to yield immediate gold.


COMPARISON OF REVENUE

Gold is sold at bullion prices and through the gold and jewelry department at
prices above the spot price.  The closing spot price of gold was $287.45 on
December 31, 1998.  The closing spot price was down to $261.00 on June 30, 1999.
Six month sales decreased by approximately twenty percent (20%) from 1998 to
1999.  While the spot price decreased, diminished production contributed mostly
to the decline in revenue.  Three month sales decreased $186,861 or about 64%
from 1998 to 1999.  This is primarily due to fewer miners working underground
which directly relates to the amount of gold mined.


COMPARISON OF EXPENSES

It is difficult to evaluate line by line changes for either reporting period due
to the significant changes in operations.  The largest category, wages,
decreased for two reasons:  fewer employees and reclassification into the
contract labor category.  Consumables, such as supplies, drayage, and utilities,
decreased because of the reduction in mining and the type of mining conducted
since February 12, 1999.  Fixed costs such as property taxes and fees, insurance
(although workers' compensation is reduced due to fewer employees) and corporate
carrying costs remain relatively unchanged.

The most interesting observations revealed in this report compare revenues,
total expenses and the resulting loss from operations.  For the six month period
ending June 30, 1998, it cost $1,243,119 to produce sales of $656,997 or revenue
was 53% of sales.  For the second quarter of 1998, it cost $606,484 to produce
$297,562 or revenue was 66% of sales.  During the first six months of 1999, it
cost $642,253 to produce $527,910 or revenue was 82% of sales.  For the second
quarter of 1999, it cost $205,005 to produce $107,701 or revenue was 53% of
sales.

For the six month comparison, revenue was down $129,087 while expenses were
reduced by $600,866.  For the three month comparison, revenue was down $186,861
while expenses were reduced by $401,479.

Net losses for 1999 are $152,697, down from $577,093 in 1998.  For the quarter,
losses in 1999 are reduced from $324,091 in 1998, to $120,937.in 1999.

The Company operates a mine with no provable reserves.  Revenue is unpredictable
from quarter-to-quarter.  Comparing financial results from year-to-year quarters
has limited value.


BALANCE SHEET

Assets decreased $20,952 primarily from a reduction in cash-on-hand.  Accounts
payable increased during the first six months of 1999 from 1998 year end.  The
Company differed a portion of its property taxes, professional fees and
utilities until revenue from a timber sale is received.  Directors fees have
not been paid since September 1998.

The Company continues to struggle with a reduction in production and the price
of gold.  Jewelry sales remain strong, but the inventory of high quality quartz
enriched gold has been depleted.  Management continues to explore various ways
to bring expenses and revenues into balance.


LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity (i.e., its ability to generate adequate amounts of cash
to meet its needs for cash) is substantially dependent upon the results of its
operations.  While the Company does maintain a gold inventory which it can
liquidate from time to time to satisfy its working capital needs, there can be
no assurance that such inventory will be adequate to sustain operations if the
Company's gold mining activities are not successful.  Because of the
unpredictable nature of the gold mining business, the Company cannot provide any
assurance with respect to long-term liquidity.  In addition, if the Company's
mining operation does not produce meaningful additions to inventory, the Company
may determine it is necessary to satisfy its working capital needs by selling
gold in bullion form.

The Company is dependent on continued recovery of gold and sales of gold from
inventory to meets its cash needs.  Although the Company has historically
located at least $1.2 million of gold in each of the last five years, there can
be no assurance that the Company's efforts in any particular period will provide
sufficient funding for the Company to continue operations.  The Company has a
fully extended line of credit with a bank.

If the Company's cash resources are inadequate and its gold inventory is
depleted, the Company may seek debt or equity financing on the most reasonable
terms available.


SUBSEQUENT EVENTS

The Company filed a timber harvest plan (THP) with the California Division of
Forestry to harvest about one million board feet of timber on its property in
Alleghany.  Logging is expected to begin August 18, 1999.  Revenue is expected
in September.

The Company has contracted with a registered professional forester to prepare a
THP for its property in Lewiston, California.  Logging is expected to begin in
September.  Board feet or revenue projections have not been calculated.

The Company acquired a twenty (20) acre patented mining claim and the entire
mineral rights of the Plumbago Mine in the Alleghany Mining District for 50,000
shares of its common stock.  The Plumbago Mine is one of the top gold producers
in the district.


YEAR 2000

The Year 2000 (Y2K) problem arises as a result of the way most computer and
process control systems handle dates.  Most systems only store the last two
digits of the year.  This equipment will not be able to differentiate between
years at the turn of the century and, if the problem is left uncorrected, may
result in malfunctions of the equipment.

The use of computers is limited to Windows operating systems on personal
computers linked to an internal network throughout the Company.  Software
consists of standardized packages from major developers.  The greatest internal
impact was with the Company's accounting software.  January 1, 1999, the Company
began utilizing an accounting software program that is Y2K compliant at a cost
of $2,000.

The Y2K issue also relates to other office equipment, such as telephones, voice
mail and the security system.  The Company is in the process of contacting all
affected vendors and manufacturers to determine where any updates or replace-
ments will be required.  The cost of the project to date has not been material
and the Company does not expect future costs of the project to be material.  An
entire system replacement and software programs would total approximately
$10,000.  Companies providing banking, insurance and other administrative
services to the Company are being contacted for Year 2000 compliance.


CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
                    SECURITIES LITIGATION REFORM ACT OF 1995

From time to time the Original Sixteen to One Mine, Inc. (the Company), will
make written and oral forward-looking statements about matters that involve
risks and uncertainties that could cause actual results to differ materially
from projected results.  Important factors that could cause actual results to
differ materially include, among others:

     -  Fluctuations in the market prices of gold
     -  General domestic and international economic and political
        conditions
     -  Unexpected geological conditions or rock stability conditions
        resulting in cave-ins, flooding, rock-bursts or rock slides
     -  Difficulties associated with managing complex operations in remote
        areas
     -  Unanticipated milling and other processing problems
     -  The speculative nature of mineral exploration
     -  Environmental risks
     -  Changes in laws and government regulations, including those
        relating to taxes and the environment
     -  The availability and timing of receipt of necessary governmental
        permits and approval relating to operations, expansion of
        operations, and financing of operations
     -  Fluctuations in interest rates and other adverse financial market
        conditions
     -  Other unanticipated difficulties in obtaining necessary financing
     -  The failure of equipment of processes to operate in accordance
        with specifications or expectations
     -  Labor relations
     -  Accidents
     -  Unusual weather or operating conditions
     -  Force majeure events
     -  Other risk factors described from time to time in the Original
        Sixteen to One Mine, Inc., filings with the Securities and
        Exchange Commission

Many of these factors are beyond the Company's ability to control or predict.
Investors are cautioned not to place undue reliance on forward-looking
statements.  The Company disclaims any intent or obligation to update its
forward-looking statements, whether as a result of receiving new information,
the occurrence of future events or otherwise.


SIGNATURE

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.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant)

By:/s/Michael M. Miller
Michael M. Miller
President and Director

Dated:  August 12, 1999