-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FmiZzKDfYTNOWTTxet0CDXxlevSVPTjqRStWBg67oYK2+d6JX4owaqbMeaJyGfKu
 9RiheJmRNakHO3AmyVNpMA==

<SEC-DOCUMENT>0000928465-99-000025.txt : 19990325
<SEC-HEADER>0000928465-99-000025.hdr.sgml : 19990325
ACCESSION NUMBER:		0000928465-99-000025
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990323

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMCON DISTRIBUTING CO
		CENTRAL INDEX KEY:			0000928465
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & GENERAL LINE [5141]
		IRS NUMBER:				470702918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		
		SEC FILE NUMBER:	005-49417
		FILM NUMBER:		99570341

	BUSINESS ADDRESS:	
		STREET 1:		10228 L ST
		STREET 2:		POST OFFICE BOX 241230
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68127
		BUSINESS PHONE:		4023313727

	MAIL ADDRESS:	
		STREET 1:		10228 L STREET
		STREET 2:		POST OFFICE 241230
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68127

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOBBS JEREMY W
		CENTRAL INDEX KEY:			0001080356
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		444 NORTH MICHIGAN AVE STE 2050
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		3127555700

	MAIL ADDRESS:	
		STREET 1:		444 NORTH MICHIGAN AVE
		STREET 2:		STE 2050
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<DESCRIPTION>SCHEDULE 13G
<TEXT>



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


                                 SCHEDULE 13G
                  Under the Securities Exchange Act of 1934
                           (Amendment No.       )*
                                         -------



                          AMCON Distributing Company
                 --------------------------------------------
                               (Name of Issuer)

                    Common Stock, par value $.01 per share
                 --------------------------------------------
                        (Title of Class of Securities)


                                   02341Q106
                              ------------------
                                (CUSIP Number)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
     / / Rule 13d-1(b)
     /x/ Rule 13d-1(c)
     / / Rule 13d-1(d)

     *The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior page.

     The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act.


CUSIP NO. 02341Q106
          ---------

 (1)   Name of reporting person(s)  Jeremy W. Hobbs
                                  --------------------------------------------
       I.R.S. identification no. of above persons (entities only) NOT REQUIRED
                                                                  ------------

(2)    Check the appropriate box if a member of a          (a) / /
       group (SEE INSTRUCTIONS)                            (b) / /

(3)    SEC USE ONLY


(4)    Citizenship or place of organization    United States
                                            ----------------------------------

Number of shares beneficially owned by each reporting person with:

 (5)   Sole voting power            700
                        ------------------------------------------------------

 (6)   Shared voting power      206,453 /1/
                          ----------------------------------------------------

 (7)   Sole dispositive power        700
                             -------------------------------------------------

 (8)   Shared dispositive power  206,453 /1/
                               -----------------------------------------------

 (9)   Aggregate amount beneficially owned by each reporting person   207,153
                                                                    ----------

(10)   Check if the aggregate amount in row (9) excludes certain shares   / /
       (SEE INSTRUCTIONS)

(11)   Percent of class represented by amount in row (9)   8.4%
                                                        ----------------------

(12)   Type of reporting person (SEE INSTRUCTIONS)   IN-Individual
                                                  ----------------------------

       /1/ Represents shares held by the Lifeboat Foundation, of which the
           undersigned is a director.  The undersigned hereby expressly 
           disclaims beneficial ownership of 206,453 shares of common stock
           of AMCON Distributing Company issued in the name of The Lifeboat
           Foundation and the filing of this Schedule 13G with respect
           thereto shall not be construed as an admission that the undersigned
           is a beneficial owner of any such securities for purposes of
           Sections 13(d) or 13(g) of the Securities Act of 1934.


ITEM 1(a). NAME OF ISSUER:  AMCON Distributing Company

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

10228 "L" Street
Omaha, Nebraska 68127

ITEM 2 (a). NAME OF PERSON FILING: Jeremy W. Hobbs

ITEM 2 (b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

444 North Michigan Aveenue, Suite 2050
Chicago, Il 60611

ITEM 2 (c). CITIZENSHIP:  United States

ITEM 2 (d). TITLE OF CLASS OF SECURITIES:

Common Stock, par value $.01 per share

ITEM 2. (e). CUSIP No.: 02341Q106

ITEM 3. STATEMENTS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B):

Not applicable

ITEM 4. OWNERSHIP:

(a)  Amount Beneficially Owned:  207,153

(b)  Percent of Class:  8.4%

(c)  Number of shares as to which such person has:

     (i)   sole power to vote or to direct the vote        700
                                                      ---------

     (ii)  shared power to vote or to direct the vote  206,453 /1/
                                                       --------

     (iii) sole power to dispose or to direct the disposition of       700
                                                                   --------

     (iv)  shared power to dispose or to direct the disposition of 206,453 /1/ 
                                                                   --------

       /1/ Represents shares held by the Lifeboat Foundation, of which the
           undersigned is a director.  The undersigned hereby expressly 
           disclaims beneficial ownership of 206,453 shares of common stock
           of AMCON Distributing Company issued in the name of The Lifeboat
           Foundation and the filing of this Schedule 13G with respect
           thereto shall not be construed as an admission that the undersigned
           is a beneficial owner of any such securities for purposes of
           Sections 13(d) or 13(g) of the Securities Act of 1934.

     INSTRUCTION.  For computations regarding securities which represent a
right to acquire an underlying security see Rule 13d-3(d)(1).

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

Not Applicable

ITEM 6. OWNERSHIP OR MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

The Lifeboat Foundation has the right to receive all dividends and all
proceeds from the sale of such securities.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

Not Applicable

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:

Not Applicable

ITEM 9. NOTICE OF DISSOLUTION OF GROUP:

Not Applicable

ITEM 10. CERTIFICATION:

By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.



                             SIGNATURE
 
     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Date: March 23, 1999                  /s/ Jeremy W. Hobbs
     ----------------------------     ----------------------------------------
                                      (Signature)

                                      Jeremy W. Hobbs  
                                      ----------------------------------------
                                      (Name/Title)

     The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative.  If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference.  The name and any title of each person who signs the statement
shall be typed or printed beneath his signature.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
