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


                                   SCHEDULE 13G


                   Under the Securities Exchange Act of 1934*

                     American Electric Power Company, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                 Common Stock
--------------------------------------------------------------------------------
                        (Title of Class of Securities)

                                   025537101
--------------------------------------------------------------------------------
                                (CUSIP Number)

                               December 31, 2000
        -------------------------------------------------------------
           (Date of Event which Requires Filing of this Statement)

Check appropriate box to designate the rule pursuant to which this Schedule is
filed:

  [X] Rule 13d-1(b)

  [_] 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
disclosures provided in a prior cover 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 (however, see
the Notes).

                               Page 1 of 4 Pages



-----------------------------
  CUSIP NO.  025537101                13G
-----------------------------


------------------------------------------------------------------------------
      NAMES OF REPORTING PERSONS.
 1    I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

       Barrow, Hanley, Mewhinney & Strauss, Inc.
               752403190
------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
 2                                                              (a) [_]
                                                                (b) [_]

------------------------------------------------------------------------------
      SEC USE ONLY
 3


------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4
       A Nevada corporation

------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5
     NUMBER OF                    shares

      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6
                                  shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7
    REPORTING                     shares

      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8
                          -----
------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9
                  shares
------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10    (See Instructions)
                                                                    [_]

------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11


------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON (See Instructions)
12
       IA

------------------------------------------------------------------------------


                               Page 2 of 4 Pages



SCHEDULE 13G
------------

Item 1(a) Name of Issuer:
               American Electric Power Company, Inc.

     1(b) Address of Issuer's Principal Executive Offices:
               1 Riverside Plaza
               Columbus, OH 43215


Item 2(a) Name of Person Filing:
               Barrow, Hanley, Mewhinney & Strauss, Inc.

     2(b) Address of Principal Business Office or, if none, Residence:
               One McKinney Plaza
               3232 McKinney Avenue, 15th Floor
               Dallas, TX 75204-2429

     2(c) Citizenship:
               A Nevada corporation

     2(d) Title of Class of Securities:
               Common Stock

     2(e) CUSIP Number:
               559079108


Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
        13d-2(b):
               The reporting person is an Investment Adviser registered under
               Section 203 of the Investment Advisers Act of 1940.



Item 4. Ownership.


     4(a)  Amount beneficially owned:
                          shares

     4(b)  Percent of class:


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

          (i)   Sole power to vote or to direct the vote
                            shares


                               Page 3 of 4 Pages


            (ii) Shares power to vote or to direct the vote:
                              shares

           (iii) Sole power to dispose or to direct the disposition of:
                              shares

           (iv)  Shares power to dispose or to direct the disposition of:

Item 5   Ownership of Five Percent or Less of a Class:
             If this statement is being filed to report the fact that as of the
             date hereof the reporting person has ceased to be the beneficial
             owner of more than five percent of the class of securities, check
             the following: [x]



Item 6.  Ownership of More than Five Percent on Behalf of Another Person:
            The right to receive or the power to direct the receipt of dividends
            from, or the proceeds from the sale of, the common stock is held by
            certain clients of the reporting person, none of which has such
            right or power with respect to five percent or more of the common
            stock.



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 the undersigned certifies that, to the best of its
            knowledge and belief, the securities referred to above were acquired
            in the ordinary course of business and were not acquired for the
            purpose of and do not have the effect of changing or influencing the
            control of the issuer of such securities and were not acquired and
            are not held in connection with or as a participant in any
            transaction having such purpose or effect.


     After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                                               BARROW, HANLEY, MEWHINNEY &
                                               STRAUSS, INC.

                                               By: /s/ James P. Barrow
                                                  Name: James P. Barrow
                                                  Title: President


February 12, 2001

                               Page 4 of 4 Pages