-----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,
 VXuexiIr8mpEzWutl5QOgIm4c20jGzuLSX0pHxROtMGHY8WdROP6n6+sQuRrp3U4
 j5NDfZv/DN1wPLvXWTDdsA==

<SEC-DOCUMENT>0001264928-03-000004.txt : 20030926
<SEC-HEADER>0001264928-03-000004.hdr.sgml : 20030926
<ACCEPTANCE-DATETIME>20030926160839
ACCESSION NUMBER:		0001264928-03-000004
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030923
FILED AS OF DATE:		20030926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ALTSCHUL INVESTMENT GROUP
		CENTRAL INDEX KEY:			0001264843

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-00041
		FILM NUMBER:		03912712

	BUSINESS ADDRESS:	
		STREET 1:		122 EAST 42ND STREET
		STREET 2:		SUITE 2500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10168-2500
		BUSINESS PHONE:		2126618710

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENERAL AMERICAN INVESTORS CO INC
		CENTRAL INDEX KEY:			0000040417
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				135098450
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		450 LEXINGTON AVENUE
		STREET 2:		SUITE 3300
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129168400

	MAIL ADDRESS:	
		STREET 1:		450 LEXINGTON AVENUE
		STREET 2:		SUITE 3300
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-09-23</periodOfReport>


    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000040417</issuerCik>
        <issuerName>GENERAL AMERICAN INVESTORS CO INC</issuerName>
        <issuerTradingSymbol>GAMPR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001264843</rptOwnerCik>
            <rptOwnerName>ALTSCHUL INVESTMENT GROUP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity></rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>General Partner is a Director.</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeHolding>
            <securityTitle>
                <value>General American Investors 7.2% Tax Adv. Cum. Preferred</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9200</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>General Partner is a Director of GAM.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>



    <ownerSignature>
        <signatureName>/s/Arthur G. Altschul, Jr.</signatureName>
        <signatureDate>2003-09-23</signatureDate>
    </ownerSignature>

</ownershipDocument>

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