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


PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
File No. 70-8557

REPORT PERIOD
January 1, 1999 to March 31, 1999


In the matter of:
CENTRAL AND SOUTH WEST CORPORATION, ET AL


      Central and South West  Corporation  ("CSW") hereby certifies on behalf of
itself and Central Power and Light Company  ("CPL"),  Public Service  Company of
Oklahoma ("PSO"),  Southwestern  Electric Power Company  ("SWEPCO"),  West Texas
Utilities Company ("WTU"),  and Central and South West Services,  Inc. ("CSWS"),
that  during  the  period  from  January  1, 1999  through  March 31,  1999 (the
"Reporting Period"):

      1. The maximum  principal amount of short-term  borrowings  outstanding at
each of the  companies  during the  Reporting  Period,  the date of the  maximum
borrowing and the Securities and Exchange Commission ("SEC") borrowing limit for
each Company as of the end of the period was as follows:

    CSW
  System              Money Pool      Short-Term         Total            SEC
 Companies   Date     Borrowings    Borrowings (1)    Borrowings         Limit

  CPL      02/05/99  $232,755,127         -         $232,755,127    $600,000,000
  PSO      02/01/99    47,500,163         -           47,500,163     300,000,000
  SWEPCO   02/05/99   103,289,700         -          103,289,700     250,000,000
  WTU      03/03/99    26,359,519         -           26,359,519     165,000,000
  CSWS     01/07/99   102,332,905         -          102,332,905     210,000,000
- -----------------------

(1) Pursuant to the External Program authorized in this file.






      2. The weighted average interest rate for borrowings  during the Reporting
Period through the Money Pool was 5.21%.

      3. The maximum amount of CSW's  short-term  borrowings on behalf of itself
and the Subsidiaries during the Reporting Period and its SEC limit as of the end
of the period was as follows:


           Total            CSW          CSW         Total CSW
         Subsidiary      Loans to    Corporation     Short-Term        SEC
Date     Borrowings     Money Pool    Borrowings     Borrowings       Limit
03/01/99 $484,847,000  $484,847,000  $379,200,000  $864,047,000   $2,500,000,000

      Said  transactions  have been carried out in accordance with the terms and
conditions   of,   and  for  the   purpose   represented   in,   the   Form  U-1
Application-Declaration,  as amended, of CSW, et al, in File No. 70-8557, and in
accordance with the terms and conditions of the  Commission's  order dated March
21, 1995, permitting said Application-Declaration to become effective.



      DATED:   April 28, 1999



                         CENTRAL AND SOUTH WEST CORPORATION
                         CENTRAL POWER AND LIGHT COMPANY
                         PUBLIC SERVICE COMPANY OF OKLAHOMA
                         SOUTHWESTERN ELECTRIC POWER COMPANY 
                         WEST TEXAS UTILITIES COMPANY
                         CENTRAL AND SOUTH WEST SERVICES, INC.

                     BY: CENTRAL AND SOUTH WEST CORPORATION



                         BY: /s/ Lawrence B. Connors    
                             Lawrence B. Connors
                             Controller