-----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,
 G809teqvaYXc0rD85mosuSy8NhQA/Nk9gtMlVhtgjdm0IWHO+ppw02g9N6o91Qcz
 njbodNRjc0xJetzzFvFC8Q==

<SEC-DOCUMENT>0001181431-07-000448.txt : 20070103
<SEC-HEADER>0001181431-07-000448.hdr.sgml : 20070101
<ACCEPTANCE-DATETIME>20070103130646
ACCESSION NUMBER:		0001181431-07-000448
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061229
FILED AS OF DATE:		20070103
DATE AS OF CHANGE:		20070103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROSE CLAYTON STUART
		CENTRAL INDEX KEY:			0001243542

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05127
		FILM NUMBER:		07502777

	MAIL ADDRESS:	
		STREET 1:		LOGAN PASS PARTNERS
		STREET 2:		420 LEXINGTON AVE STE 1820
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10170

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCANTILE BANKSHARES CORP
		CENTRAL INDEX KEY:			0000064908
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				520898572
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2 HOPKINS PLZ
		STREET 2:		PO BOX 1477
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21203
		BUSINESS PHONE:		4102375900

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1477
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21203
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd141453.xml
<DESCRIPTION>PHANTOM STOCK 12/29/06
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-12-29</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000064908</issuerCik>
        <issuerName>MERCANTILE BANKSHARES CORP</issuerName>
        <issuerTradingSymbol>(MRBK)</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243542</rptOwnerCik>
            <rptOwnerName>ROSE CLAYTON STUART</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2 HOPKINS PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BALTIMORE</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-12-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>906.1480</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>46.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>906.1480</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6821.5191</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Acquired under Issuer's Unfunded Deferred Compensation Plan for Directors, and will be settled 100% in stock when the Reporting Person ceases to be a Director or at a later date to be determined by the Reporting Person.</footnote>
        <footnote id="F2">1 for 1</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Dennis W. Kreiner p/a for Clayton S. Rose</signatureName>
        <signatureDate>2007-01-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----