SECURITIES EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                      10-Q


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

For the quarter ended June 30, 2000                   Commission File No. 1-7215

                              PEERLESS TUBE COMPANY

New Jersey                                       22-1191280 (IRS Identification)

                               58-76 LOCUST AVENUE
                          BLOOMFIELD, NEW JERSEY 07003
                             TELEPHONE: 201-743-5100

Securities registered pursuant to section 12 (g) of the act:

            Title of Class                                  Exchange
            --------------                                  --------

   Common stock $1.33-1/3 par value                 Over the counter (PLSU)

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

Yes X    No
   ---

As of the filing date,  the  aggregate  market value of the voting stock held by
non affiliates of the Registrant was approximately $616,000. The market value is
based on $.25 as of June 29, 2000, which is the last recorded trade.  During the
quarter,  actual trades of relatively  small amounts of the Company's  shares of
stock have traded at a transaction price from $.22 to $.40.



Common Stock, Par Value                                 $1.33-1/3
Outstanding at June 30, 2000.                           2,462,973 shares

Documents incorporated by reference: None








<PAGE>


                                TABLE OF CONTENTS


<TABLE>
<CAPTION>
ITEM                                                                                                  PAGE
<S>                                                                                                  <C>
PART I     FINANCIAL INFORMATION

           Balance sheets as of June 30, 2000 - unaudited and December 31, 1999                          3

           Statement of operations for the quarters and six months ended June 30,
           2000 and 1999 - unaudited                                                                   4-5

           Statement of cash flows for the quarters and six months ended June 30,
           2000 and 1999 - unaudited                                                                     6

           Notes to the financial statements                                                           7-8

           Management's discussion & analysis of the financial conditions
           and results of operations                                                                  9-10


PART II    OTHER INFORMATION

           Item 5                                                                                       11

           Item 6                                                                                       11

           Signatures                                                                                   12
</TABLE>



                                       2
<PAGE>

<TABLE>
<CAPTION>
PEERLESS TUBE COMPANY                                                         JUNE 30,             DECEMBER 31,
BALANCE SHEET                                                                   2000                   1999
---------------------------------------------------------------------------------------------------------------------
                                                                             (UNAUDITED)
                                                                               (ROUNDED TO NEAREST THOUSAND)
<S>                                                                        <C>                    <C>
ASSETS

Current assets:
Cash                                                                       $      20,000          $      50,000
Accounts receivable, less allowance for doubtful of $100,000                   1,251,000              1,373,000
Inventories                                                                      733,000                919,000
Prepaid expenses and other current assets                                         58,000                 63,000
---------------------------------------------------------------------------------------------------------------------

       Total current assets                                                    2,062,000              2,405,000

Property, plant and equipment, net                                             1,222,000              1,418,000
Deferred financing costs                                                         150,000                165,000
Deferred tax assets, net of valuation allowance of $5,701,000
---------------------------------------------------------------------------------------------------------------------

       Total assets                                                          $ 3,434,000            $ 3,988,000
=====================================================================================================================


LIABILITIES & STOCKHOLDERS' DEFICIENCY

Current liabilities:
Accounts payable                                                             $ 1,228,000            $   740,000
Accrued liabilities                                                              413,000                595,000
Revolving credit line                                                          1,134,000              1,184,000
Current portion of long-term debt                                                307,000                307,000
---------------------------------------------------------------------------------------------------------------------

       Total current liabilities                                               3,082,000              2,826,000

Long term debt                                                                 1,561,000              1,715,000
Other liabilities                                                                268,000                273,000
---------------------------------------------------------------------------------------------------------------------

       Total liabilities                                                       4,911,000              4,814,000
---------------------------------------------------------------------------------------------------------------------

Commitments and contingencies

Stockholders' deficiency:
Common stock, $1.33-1/3 par value; authorized 5,000,000 shares;
issued and outstanding 2,536,935 shares                                        3,382,000              3,382,000
Additional paid-in capital                                                    14,439,000             14,439,000
Accumulated deficit                                                           18,954,000             18,303,000
Less 73,962 shares of stock in treasury, at cost                                (344,000)              (344,000)
---------------------------------------------------------------------------------------------------------------------

       Stockholders' deficiency                                                1,477,000                826,000
---------------------------------------------------------------------------------------------------------------------

       Total liabilities and stockholders' deficiency                         $3,434,000             $3,988,000
=====================================================================================================================
</TABLE>



                     THE ACCOMPANYING NOTES SHOULD BE READ
                 IN CONJUNCTION WITH THE FINANCIAL STATEMENTS.




                                       3
<PAGE>

<TABLE>
<CAPTION>
PEERLESS TUBE COMPANY
STATEMENT OF OPERATIONS,                                                   JUNE 30                   JUNE 30,
FOR THE QUARTER ENDED                                                        2000                      1999
---------------------------------------------------------------------------------------------------------------------
                                                                (ROUNDED TO NEAREST THOUSAND EXCEPT PER SHARE AMOUNTS)
                                                                         (UNAUDITED)               (UNAUDITED)
<S>                                                                        <C>                       <C>
NET SALES                                                                  $ 3,291,000               $ 3,387,000

COST OF SALES                                                                3,146,000                 3,092,000
---------------------------------------------------------------------------------------------------------------------

GROSS PROFIT                                                                   145,000                   295,000

SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES                                  437,000                   443,000
---------------------------------------------------------------------------------------------------------------------

LOSS FROM OPERATIONS                                                           292,000                   148,000

INTEREST EXPENSE                                                               115,000                    58,000

OTHER INCOME                                                                     2,000                     4,000
---------------------------------------------------------------------------------------------------------------------

NET LOSS                                                                   $   405,000               $   202,000
=====================================================================================================================


ACCUMULATED DEFICIENCY:
BEGINNING OF PERIOD                                                        $18,549,000               $18,023,000
---------------------------------------------------------------------------------------------------------------------

END OF PERIOD                                                              $18,954,000               $18,225,000
=====================================================================================================================

BASIC LOSS PER SHARE                                                             $0.16                     $0.08
=====================================================================================================================

WEIGHTED AVERAGE SHARE OUTSTANDING                                           2,462,973                 2,462,973
=====================================================================================================================
</TABLE>





                      THE ACCOMPANYING NOTES SHOULD BE READ
                 IN CONJUNCTION WITH THE FINANCIAL STATEMENTS.





                                       4
<PAGE>

<TABLE>
<CAPTION>
PEERLESS TUBE COMPANY
STATEMENT OF OPERATIONS,                                                  JUNE 30,                  JUNE 30,
FOR THE SIX MONTHS ENDED                                                    2000                      1999
----------------------------------------------------------------------------------------------------------------------
                                                                 (ROUNDED TO NEAREST THOUSAND EXCEPT PER SHARE AMOUNTS)
                                                                        (UNAUDITED)                (UNAUDITED)
<S>                                                                       <C>                        <C>
NET SALES                                                                 $ 6,779,000                $ 7,215,000

COST OF SALES                                                               6,363,000                  6,790,000
----------------------------------------------------------------------------------------------------------------------

GROSS PROFIT                                                                  416,000                    425,000

SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES                                 860,000                    840,000
----------------------------------------------------------------------------------------------------------------------

LOSS FROM OPERATIONS                                                          444,000                    415,000

INTEREST EXPENSE                                                              232,000                    116,000

OTHER INCOME                                                                   25,000                    334,000
----------------------------------------------------------------------------------------------------------------------

NET LOSS                                                                  $   651,000                $   197,000
======================================================================================================================

ACCUMULATED DEFICIENCY:
BEGINNING OF PERIOD                                                       $18,303,000                $18,028,000
----------------------------------------------------------------------------------------------------------------------

END OF PERIOD                                                             $18,954,000               $ 18,225,000
======================================================================================================================

BASIC LOSS PER SHARE                                                            $0.26                      $0.08
======================================================================================================================

WEIGHTED AVERAGE SHARE OUTSTANDING                                          2,462,973                  2,462,973
======================================================================================================================
</TABLE>



                      THE ACCOMPANYING NOTES SHOULD BE READ
                 IN CONJUNCTION WITH THE FINANCIAL STATEMENTS.



                                       5
<PAGE>

<TABLE>
<CAPTION>
PEERLESS TUBE COMPANY                                                            FOR THE SIX MONTHS ENDED JUNE 30,
STATEMENT OF CASH FLOWS                                                          ---------------------------------
                                                                                        2000              1999
                                                                                    (UNAUDITED)       (UNAUDITED)
                                                                                  (ROUNDED TO THE NEAREST THOUSAND)
---------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  NET LOSS                                                                              $651,000          $197,000
---------------------------------------------------------------------------------------------------------------------

  ADJUSTMENT TO RECONCILE NET LOSS TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
       DEPRECIATION AND AMORTIZATION                                                     211,000           360,000
       DECREASE IN OPERATING ASSETS:
         ACCOUNTS RECEIVABLE                                                             122,000            27,000
         INVENTORIES                                                                     186,000           192,000
         PREPAID EXPENSES AND OTHER CURRENT ASSETS                                         5,000            62,000
       INCREASE (DECREASE) IN OPERATING LIABILITIES:
         ACCOUNTS PAYABLE                                                                488,000          (111,000)
         ACCRUED LIABILITIES                                                            (182,000)          (12,000)
---------------------------------------------------------------------------------------------------------------------

               TOTAL ADJUSTMENTS                                                         830,000           518,000
---------------------------------------------------------------------------------------------------------------------

               NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                       179,000           321,000
---------------------------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  NET REPAYMENTS UNDER CREDIT LINE                                                        50,000            70,000
  REPAYMENT OF LONG TERM DEBT AND CURRENT MATURITIES                                     159,000           197,000
---------------------------------------------------------------------------------------------------------------------

               NET CASH USED IN FINANCING ACTIVITIES                                     209,000           267,000
---------------------------------------------------------------------------------------------------------------------

               NET (DECREASE) INCREASE IN CASH                                           (30,000)           54,000

CASH - BEGINNING OF THE PERIOD                                                            50,000            15,000
---------------------------------------------------------------------------------------------------------------------

CASH - END OF PERIOD                                                                     $20,000           $69,000
=====================================================================================================================
</TABLE>



                      THE ACCOMPANYING NOTES SHOULD BE READ
                 IN CONJUNCTION WITH THE FINANCIAL STATEMENTS.



                                       6
<PAGE>

PEERLESS TUBE COMPANY

NOTES TO FINANCIAL STATEMENTS

NOTE 1: PREPARATION OF FINANCIAL STATEMENTS

The  accompanying  unaudited  financial  statements  have been  prepared  by the
Company  without  audit  in  accordance  with  generally   accepted   accounting
principles.  These  statements  should be read in  conjunction  with the audited
financial  statements and notes there to included in the Company's Annual Report
Form 10-K for the year ended  December  31, 1999 and the  Quarterly  Report Form
10-Q for the Quarter ended March 31, 2000.

In  the  opinion  of  management,   these  financial   statements   include  all
adjustments,  consisting  only of normal  recurring  adjustments,  necessary  to
present fairly the financial position, results of operations, and cash flows for
the Company.  Certain information and foot notes disclosure normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles have been condensed or omitted  pursuant to the rules and regulations
of the Securities and Exchange Commission.  The Company believes,  however, that
the  disclosures in this report are adequate to make the  information  presented
not misleading in any material respect.  There have been no significant  changes
in accounting  policy since December 31, 1999. The results of operations may not
be indicative  of the results that may be expected for the year ending  December
31, 2000.

NOTE 2: BUSINESS

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles,  which contemplate continuation of the
Company as a going  concern.  Since 1988,  however,  the  Company  has  suffered
recurring  losses from  operations  and negative  cash flows and currently has a
stockholders'  deficiency.  These conditions raise  substantial  doubt about its
ability to continue as a going concern.

The Company's management continues to evaluate and reshape its business plans to
improve operating results and respond to changes in its very competitive market.

Management continues to work towards improving the operating  performance of the
Company,  including the stabilizing of its raw material  costs.  The Company has
entered  into an  agreement  that will  result  in the  Company  maximizing  its
purchasing power with certain key vendors. Also, as the company moves forward it
has restaffed key personnel in the operations area as the Company  continues its
quest to increase operational productivity.

Although  the  competition  remains  strong  in all areas of the  business,  the
Company has been able to increase its market share in the aluminum  tube product
line with sales up 34% from the prior year.  Sales in the  aluminum  can product
line have  decreased  by 10% during the same  period,  largely due to  increased
competition.

NOTE 3: DEBT RESTRUCTUING

On July 29, 1999, the Company entered into a refinancing agreement with a major,
national asset based lender, covering both a new revolving credit facility and a
new term loan.

Borrowings against the revolving credit facility are based on specific levels of
accounts  receivable  and  inventories  of the Company and bear  interest at the
prime rate plus three  percent on the  outstanding  balance.  The  initial  draw
against the revolving credit line was approximately $410,000.


                                       7
<PAGE>

The term loan, which also carries interest at the prime rate plus three percent,
will be amortized  equally over 84 months.  The initial  amount of this loan was
$2,150,000.

There are minimum  borrowing  requirements  of $1,500,000 and the maximum amount
available under the combined  borrowings is $5,000,000.  The Company has pledged
substantially all of its assets as collateral for these four loans. In addition,
the agreement  requires the Company to comply with various  financial  covenants
including  restrictions on the amounts of capital expenditures and a prohibition
on the payment of dividends on the Company's common stock.

Proceeds from these  borrowings  were used to 1) repay the existing  asset based
lender in full; 2) pay the $640,000  remaining  due from the lawsuit  verdict in
favor of a former  employee;  and 3) to pay all real  estate and other  taxes as
well as other past due accounts payable.

NOTE 4: INVENTORIES

Inventories are comprised of the following:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
                     INVENTORIES                                    June 30,                   December 31,
                                                                      2000                         1999
--------------------------------------------------------------------------------------------------------------------
<S>                                                               <C>                         <C>
Raw materials                                                     $  364,000                  $  510,000

Finished goods                                                       369,000                     409,000
--------------------------------------------------------------------------------------------------------------------

     Total                                                        $  733,000                  $  919,000
====================================================================================================================
</TABLE>

NOTE 5: ACCRUED LIABILITIES

Accrued liabilities are comprised of the following:

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
                  ACCRUED LIABILITIES                               June 30,                  December 31,
                                                                      2000                        1999
--------------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>                         <C>
Payroll, payroll taxes, and payroll related costs                   $155,000                    $168,000
--------------------------------------------------------------------------------------------------------------------

Legal and professional                                               119,000                     145,000
--------------------------------------------------------------------------------------------------------------------

All other                                                            139,000                     282,000
--------------------------------------------------------------------------------------------------------------------

     Total                                                          $413,000                    $595,000
====================================================================================================================
</TABLE>

NOTE 6: LONG-TERM DEBT

Long-term debt is comprised of the following:

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
                            LONG TERM DEBT                                       June 30,         December 31,
                                                                                   2000               1999
------------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>               <C>
Equipment term loan payable in monthly installments of $25,600 plus
  interest through July, 2006  The loan bears interest at the prime rate
  plus 3%.  (see Note 3)                                                          $1,868,000        $2,022,000

Less current portion                                                                (307,000)         (307,000)
------------------------------------------------------------------------------------------------------------------

Long-term debt                                                                    $1,561,000        $1,715,000
==================================================================================================================
</TABLE>


                                       8
<PAGE>

MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE FINANCIAL
CONDITION & RESULTS OF OPERATIONS

SALES AND RESULTS OF OPERATIONS 2000 COMPARED TO 1999

SALES

Sales for the  quarter  ended  June 30,  2000 and 1999  totaled  $3,291,000  and
$3,387,000, respectively resulting in a decrease of $96,000 or 3%. The sales for
the six months  ended June 30,  2000 and 1999 were  $6,779,000  and  $7,215,000,
respectively, resulting in a decrease of $436,000 or 6%.

The breakdown of the overall sales from all sources for the second quarter ended
June 2000 and 1999 respectively was as follows:

<TABLE>
<CAPTION>
                                                 2nd Quarter      2nd Quarter
Net Sales                                           2000              1999            Change             %
---------------------------------------------- ---------------- ----------------- ---------------- ---------------
<S>                                               <C>              <C>                <C>               <C>
Cans                                              $2,706,000       $2,806,000         ($100,000)        (3.6%)
Metal tubes                                          426,000          394,000            32,000          8.1%
Miscellaneous                                        159,000          187,000           (28,000)       (15.0%)
---------------------------------------------- ---------------- ----------------- ---------------- ---------------

     Total                                        $3,291,000       $3,387,000          ($96,000)        (2.8%)
============================================== ================ ================= ================ ===============
</TABLE>

In the second quarter ending June 30, 2000, two customers accounted for 53% (39%
and 14%) of the Company's sales.

GROSS PROFIT TRENDS AND DISCUSSION

The gross profit on sales for the quarter ended June 30, 2000 was $145,000 or 4%
on sales of $3,291,000. For the quarter ended June 30, 1999 the gross profit was
$295,000,  or 9% on sales of $3,387,000.  For the six months ended June 30, 2000
the gross  profit was  $416,000  or 6% on sales of  $6,779,000  as  compared  to
$425,000 or 6% on sales of $7,215,000 for the six months ended June 30, 1999.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

Selling, general and administrative expenses for the quarter ended June 30, 2000
were $437,000 or 13% of sales. For the six months ended June 30, 2000,  selling,
general and  administrative  expenses  totaled $860,000 or 13% of sales. For the
quarter ended June 30, 1999, selling,  general and administrative  expenses were
$443,000 or 13% of sales and for the six months  ended June 30,  1999,  selling,
general and administrative expenses totaled $840,000 or 12.9% of sales.

INTEREST EXPENSE AND OTHER EXPENSES, NET

Interest expense for the quarter ended June 30, 2000 was $115,000 as compared to
$58,000 for the quarter  ended June 30, 1999.  The increase in interest  expense
was due to the refinancing in July, 1999. (See Note 3).


                                       9
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

The Company had negative  working  capital of  $1,020,000 at June 30, 2000 which
was approximately a $599,000 decrease in working capital from December 31, 1999.

For the six months ended June 30, 2000 cash provided by operating activities was
$179,000 as compared with $321,000 provided by operations for the same period in
1999.

The Company's management has continually  evaluated and reshaped its business to
improve the operational results of the Company and respond to the changes in the
economic  and  competitive  market in which the  Company  operates.  Except  for
periodic  additions to meet peaks in sales demands,  the Company has reduced its
workforce,   both  salary  and  hourly.  Also,  management  has  introduced  and
implemented new programs to improve its production and inventory management.





                                       10
<PAGE>

PART II OTHER INFORMATION

ITEM 5:

There were no dividends declared in the quarter.

ITEM 6:

None




                                       11
<PAGE>

SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  19345  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                        PEERLESS TUBE COMPANY

                                        Registrant

                                        By:




                                        Frederic Remington, Jr.
                                        Chairman

                                        By:



                                        Richard W. Potts
                                        President


                                       12