BALDWIN BROTHERS INC/MA
13F-HR, 2000-02-14
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 13F

    INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT TO
   SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER

 Report for the Calendar Year or Quarter Ended: December 31, 1999
                                              -------------------

- --------------------------------------------------------------------------------
               (Please read instructions before preparing form.)
- --------------------------------------------------------------------------------

If amended report check here [_]


Baldwin Brothers, Inc.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager

                  3 Barnabas Road      Marion,                   MA      02738
- --------------------------------------------------------------------------------
Business Address     (Street)          (City)                  (State)   (Zip)

Michael Baldwin,  (508) 748-0800, President, Baldwin Brothers, Inc.
- --------------------------------------------------------------------------------
Name, Phone No., and Title of Person Duly Authorized to Submit This Report.


- ---------------------------------- ATTENTION -----------------------------------
          Intentional misstatements or omissions of facts constitute
    Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
- --------------------------------------------------------------------------------

  The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represent hereby that all information
contained therein is true, correct and complete. It is understood that
all required items, statements and schedules are considered integral parts of
this Form and that the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete as previously
submitted.

 Pursuant to the requirements of the Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be
signed on its behalf in the City of     Marion    and State of   Massachusetts
                                    -------------              -----------------
on the   tenth   day of    February     2000.
       ---------        --------------------


                                         Baldwin Brothers, Inc. (28-5814)
                                   ---------------------------------------------
                                   (Name of Institutional Investment Manager)


                                              /s/ Michael Baldwin
                                   ---------------------------------------------
                                   (Manual Signature of Person Duly Authorized
                                             to Submit This Report)

Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report): (List
in alphabetical order).

Form 13F File Numbers will be assigned to Institutional Investment Managers
after they file their first report.

Name:                  13F File No.:    Name:                  13F File No.:

1. Michael Baldwin        28-5818       6. Ellen O. Stone         28-7204
- -------------------------------------   -------------------------------------

2. David A. Barrett       28-6352       7.
- -------------------------------------   -------------------------------------

3. David A. Wallerstein   28-5816       8.
- -------------------------------------   -------------------------------------

4. J. Michael Costello    28-6868       9.
- -------------------------------------   -------------------------------------

5. Malcolm G. Chace, Jr.  28-6870       10.
- -------------------------------------   -------------------------------------
<PAGE>

                            Baldwin Brothers, Inc.
                                   FORM 13F
                               Baldwin Brothers
                               December 31, 1999
<TABLE>
<CAPTION>
                                                                                                                Voting Authority
                                Title                                                                      -------------------------
                                 of                 Value    Shares/   Sh/  Put/  Invstmt      Other
       Name of Issuer           class     CUSIP    (x$1000)  Prn Amt   Prn  Call  Dscretn    Managers      Sole     Shared    None
- ------------------------------  -----   ---------  --------  -------   ---  ----  -------    --------      ----     ------  --------
<S>                             <C>     <C>        <C>       <C>      <C>   <C>   <C>        <C>        <C>     <C>        <C>
Avalon Bay Community Pfd Ser F   PFD    053484507     209     10400    SH          Sole                                        10400
Bank One Cap 8.00% 09/15/2029    PFD    06421b202     431     18750    SH          Sole                                        18750
Barclays Bk PLC Am Dep Nt Rcpt   PFD    06738c836     446     20000    SH          Sole                                        20000
Bellsouth Cap Fd Pfd QUIBS 7.3   PFD    079857207     223     10000    SH          Sole                                        10000
Carlton Comm PLC PFD *%          PFD    G19068140     403     20000    SH          Sole                                        20000
Equity Res Prop Tr Pfd Cv Cm 7   PFD    29476l859     227     11500    SH          Sole                                        11500
FleetBoston Finl crp 9.35% pfd   PFD    339030504     781     31300    SH          Sole                                        31300
Glenborough Realty Trust 7.75%   PFD    37803p105    1532    109900    SH          Sole                                       109900
Houston Industries 7% pfd        PFD    442161204    5266     43700    SH          Sole                                        43700
Joseph E. Seagrams & Sons Snr    PFD    811845205    1685     78850    SH          Sole                                        78850
MediaOne Fin Pfd Tr III 9.04%    PFD    584458202    1272     50500    SH          Sole                                        50500
Merrill Lynch Pfd 7.00% Srs 11   PFD    59021f206     328     16500    SH          Sole                                        16500
Natl Westminster Bank ser A 7.   PFD    638539809     924     42500    SH          Sole                                        42500
Qualcomm Financial Tr I Tr Pfd   PFD    74752r402     491       500    SH          Sole                                          500
Rhone-Poulenc Overseas Ser PFD   PFD    G75495104     418     20000    SH          Sole                                        20000
SI Financing Trust I 9.25% pfd   PFD    828692103     339     13300    SH          Sole                                        13300
Time Warner 8.875% pfd           PFD    88731g204     271     10900    SH          Sole                                        10900
Alza Corp sub Deb Conv           CONV   022615ad0      42     40000    SH          Sole                                        40000
Hilton Hotels Conv. Sub Notes    CONV   432848al3     125    165000    SH          Sole                                       165000
AT & T Corp Liberty Media Grou   COM    001957208   11000    193625    SH          Sole             2       1400              192225
AT Cross CL A                    COM    227478104     305     67800    SH          Sole                                        67800
AT&T Corp                        COM    001957109    2861     56311    SH          Sole                                        56311
AXA-UAP ADR                      COM    054536107     568      8000    SH          Sole                                         8000
Abbott Labs                      COM    002824100    5744    158194    SH          Sole                                       158194
Access Solutions                 COM    004317103       8    757212    SH          Sole             4     757212              757212
Aegon NV Amer Reg                COM    007924103    2528     26476    SH          Sole                                        26476
Air Products & Chemicals         COM    009158106     819     24400    SH          Sole                                        24400
Airgas Inc                       COM    009363102     259     27200    SH          Sole             2       5200               22000
Allied Signal - Honeywell Int'   COM    438516106    1992     34534    SH          Sole                                        34534
Ambase Corp.                     COM    023164106      32     35000    SH          Sole                                        35000
Amerada Hess Corp                COM    023551104     240      4222    SH          Sole                                         4222
America OnLine Inc Del           COM    02364J104     311      4100    SH          Sole                                         4100
American Express Co              COM    025816109     981      5900    SH          Sole                                         5900
American Home Prods Corp         COM    026609107    1522     38780    SH          Sole                                        38780
American Int'l Group             COM    026874107   15945    147472    SH          Sole           2,5       2812              144660
American Power Conversion        COM    029066107     280     10600    SH          Sole                                        10600
Amgen                            COM    031162100     949     15800    SH          Sole                                        15800
Analog Devices                   COM    032654105    1073     11533    SH          Sole                                        11533
Andrew Corp                      COM    034425108    7131    376550    SH          Sole             4       1000              375550
Anheuser Busch Cos Inc           COM    035229103     201      2840    SH          Sole                                         2840
Applied Extrusion Tech           COM    038196101     167     27225    SH          Sole             2      10225               17000
Ariba Inc                        COM    04033v104     758      4274    SH          Sole                                         4274
Atlantic Richfield Co            COM    048825103     900     10400    SH          Sole                                        10400
Automatic Data Processing        COM    053015103     955     17732    SH          Sole                                        17732
BP Amoco Pls Spons ADR           COM    055622104    3312     55834    SH          Sole                                        55834
Banc One Corp Ohio               COM    06423a103     545     17040    SH          Sole                                        17040
Bank New York Inc                COM    064057102     511     12775    SH          Sole                                        12775
Bank Rhode Island                COM    064576101     921     93225    SH          Sole         1,2&3        300               93025
Bank of America Corp             COM    06605f102     753     15004    SH          Sole             2        200               14804
</TABLE>
<PAGE>
                            Baldwin Brothers, Inc.
                                   FORM 13F
                               Baldwin Brothers
                               December 31, 1999
<TABLE>
<CAPTION>
                                                                                                                Voting Authority
                                Title                                                                      -------------------------
                                 of                 Value    Shares/   Sh/  Put/  Invstmt      Other
       Name of Issuer           class     CUSIP    (x$1000)  Prn Amt   Prn  Call  Dscretn    Managers      Sole     Shared    None
- ------------------------------  -----   ---------  --------  -------   ---  ----  -------    --------      ----     ------  --------
<S>                             <C>     <C>        <C>       <C>      <C>   <C>   <C>        <C>        <C>     <C>        <C>
Barbecues Galore Ltd Spons Adr   COM    067091108     279     36000    SH          Sole             2      11500               24500
Bell Atlantic Corp               COM    077853109    2305     37436    SH          Sole             2        200               37236
Bellsouth Corp                   COM    079860102    2058     43970    SH          Sole                                        43970
Belo Series A                    COM    080555105     381     20000    SH          Sole                                        20000
Berkshire Hathaway Cl B          COM    084670207     966       528    SH          Sole                                          528
Berkshire Hathaway Inc           COM    084670108    5217        93    SH          Sole             5         30                  63
Bestfoods                        COM    08658u101     470      8950    SH          Sole                                         8950
Boeing Company                   COM    097023105     371      8965    SH          Sole                                         8965
Boston Scientific Corp           COM    101137107    1815     82985    SH          Sole             2       2200               80785
Bristol Myers Squibb Co          COM    110122108    4505     70181    SH          Sole                                        70181
Brown Forman Corp Class A        COM    115637100     378      7002    SH          Sole                                         7002
Burlington Northn Inc            COM    12189T104     236      9738    SH          Sole                                         9738
C U N O Inc.                     COM    126583103     414     20000    SH          Sole                                        20000
CBS Corp                         COM    12490K107     655     10250    SH          Sole                                        10250
CNF Transportation Inc           COM    12612W104     290      8400    SH          Sole                                         8400
CVS Corp                         COM    126650100    9856    247175    SH          Sole             2       1500              245675
Cabot Industrial Trust           COM    127072106     236     12825    SH          Sole                                        12825
Capital One Financial            COM    14040H105    1287     26716    SH          Sole                                        26716
Carnival Corp                    COM    143658102     227      5000    SH          Sole                                         5000
Carolina Pwr & Lt Co             COM    144141108     351     11516    SH          Sole                                        11516
Cendant Corp                     COM    151313103    1243     46800    SH          Sole             2       5200               41600
Centerpoint Properties Corp      COM    151895109     255      7000    SH          Sole                                         7000
Charles Schwab Corp New          COM    808513105     459     12000    SH          Sole                                        12000
Chase Manhattan Corp             COM    16161A108    1631     20990    SH          Sole                                        20990
Chevron Corp                     COM    166751107    1135     13105    SH          Sole                                        13105
Cincinnati Financial Corp        COM    172062101     211      6771    SH          Sole                                         6771
Circuit City Stores Inc          COM    172737108    1172     26000    SH          Sole                                        26000
Cisco Systems Inc                COM    17275R102   26073    243390    SH          Sole             2        200              243190
Citigroup Inc                    COM    172967101    1542     27690    SH          Sole                                        27690
Citizens Util                    COM    177342201     355     25000    SH          Sole                                        25000
Coca Cola Co                     COM    191216100    9383    161086    SH          Sole             2       3200              157886
Colgate Palmolive Co             COM    194162103    1620     24916    SH          Sole             2        400               24516
Commerce Group Inc Mass          COM    200641108     319     12200    SH          Sole                                        12200
Compaq Computer                  COM    204493100     496     18325    SH          Sole                                        18325
Computer Associates Intl Inc     COM    204912109     274      3912    SH          Sole                                         3912
Computer Sciences                COM    205363104     379      4000    SH          Sole                                         4000
Corning Inc                      COM    219350105     355      2750    SH          Sole                                         2750
Costco Wholesale Corp            COM    22160k105     205      2250    SH          Sole                                         2250
DLJ High Yield Bond Fund         COM    23322y108     220     32538    SH          Sole             2       1200               31338
Disney Walt Company              COM    254687106    1166     39880    SH          Sole                                        39880
Dover Corp                       COM    260003108     526     11600    SH          Sole                                        11600
Dow Chemical Corp                COM    260543103     417      3124    SH          Sole                                         3124
Du Pont E I De Nemours Co        COM    263534109     648      9838    SH          Sole                                         9838
Duke Energy Co.                  COM    264399106     504     10049    SH          Sole                                        10049
Duke-Weeks Realty Corp           COM    264411505     320     16400    SH          Sole                                        16400
E M C Corp MA                    COM    268648102    1223     11195    SH          Sole                                        11195
Eaton Corp                       COM    278058102     331      4557    SH          Sole                                         4557
Electronic Data Systems Corp     COM    285661104     803     12000    SH          Sole                                        12000
Emerson Elec Co                  COM    291011104     926     16131    SH          Sole                                        16131
</TABLE>
<PAGE>

                            Baldwin Brothers, Inc.
                                   FORM 13F
                               Baldwin Brothers
                               December 31, 1999
<TABLE>
<CAPTION>
                                                                                                                Voting Authority
                                Title                                                                      -------------------------
                                 of                 Value    Shares/   Sh/  Put/  Invstmt      Other
       Name of Issuer           class     CUSIP    (x$1000)  Prn Amt   Prn  Call  Dscretn    Managers      Sole     Shared    None
- ------------------------------  -----   ---------  --------  -------   ---  ----  -------    --------      ----     ------  --------
<S>                             <C>     <C>        <C>       <C>      <C>   <C>   <C>        <C>        <C>     <C>        <C>
Emisphere Technologies           COM    291345106     316     10500    SH          Sole                                        10500
Enron Corp                       COM    293561106    9634    217094    SH          Sole                                       217094
Eurotech Limited                 COM                   36     17150    SH          Sole         4 & 5      16500                 650
Exxon Mobil Corp                 COM    30231g102   13291    164973    SH          Sole                                       164973
Family Ventures III Part         COM    999027816      25     21250    SH          Sole                                        21250
Fannie Mae                       COM    313586109    4529     72540    SH          Sole                                        72540
Federated Dept Stores            COM    31410H101     303      6000    SH          Sole                                         6000
First Data Corporation           COM    319963104    6221    126160    SH          Sole             2       2700              123460
First Union Corp                 COM    337358105     244      7401    SH          Sole                                         7401
FleetBoston Finl Corp            COM    339030108   12352    354822    SH          Sole       2,4 & 5       5362              349460
Foxborough Svgs Bank             COM    351644109     798     14000    SH          Sole             2       4000               10000
Freddie Mac                      COM    313400301     384      8150    SH          Sole                                         8150
GTE Corp                         COM    362320103    2950     41809    SH          Sole                                        41809
Gannett Inc Del                  COM    364730101    1232     15110    SH          Sole                                        15110
Genentech, Inc New               COM    368710406     561      3800    SH          Sole                                         3800
General Electric Company         COM    369604103   39056    252384    SH          Sole             5        800              251584
General Motors Cl H              COM    370442832     288      3000    SH          Sole                                         3000
Gillette Co                      COM    375766102    4249    103149    SH          Sole             2       1590              101559
Glaxo Wellcome plc ADR           COM    37733W105     408      7300    SH          Sole                                         7300
Glenborough Realty Trust         COM    37803P105     189     14150    SH          Sole                                        14150
Global Marine Inc Com New        COM    379352404     272     16350    SH          Sole                                        16350
Globalstar Telecom Ltd           COM    g3930h104    1157     26300    SH          Sole             2        500               25800
Halliburton Co                   COM    406216101    2240     55663    SH          Sole                                        55663
Hancock J Ptrot Pfd D Fund       COM    41013J107     186     18850    SH          Sole                                        18850
Hershey Foods Corp               COM    427866108     285      6000    SH          Sole                                         6000
Hewlett Packard Co               COM    428236103    3369     29617    SH          Sole                                        29617
Home Depot Inc                   COM    437076102    7633    111020    SH          Sole             2        300              110720
Illinois Tool Works              COM    452308109     343      5070    SH          Sole                                         5070
Int'l Business Machines          COM    459200101   11761    109027    SH          Sole             2        500              108527
Integra, Inc.                    COM    45811m105      35     20996    SH          Sole             2       4296               16700
Intel Corp                       COM    458140100   25467    309388    SH          Sole         2 & 5       3700              305688
Interpublic Group Cos Inc        COM    460690100     326      8000    SH          Sole                                         8000
J P Morgan & Co Inc              COM    616880100     259      2048    SH          Sole                                         2048
Jacobs Engr Group                COM    469814107    2115     65090    SH          Sole             4        100               64990
John Hancock Patriot Global Fd   COM    41013G103     425     44420    SH          Sole                                        44420
Johnson & Johnson                COM    478160104    4478     48020    SH          Sole                                        48020
Kimberly-Clark                   COM    494368103    5337     81561    SH          Sole             4        277               81284
Korea Fund                       COM    500634100     170     10000    SH          Sole                                        10000
Lexmark International Group In   COM    529771107     453      5000    SH          Sole                                         5000
Liberty Ppty Tr                  COM    531172104     223      9000    SH          Sole                                         9000
Lilly Eli & Co                   COM    532457108    2066     31074    SH          Sole                                        31074
Lowe's                           COM    548661107     290      4850    SH          Sole                                         4850
Lucent Technologies              COM    549463107    5890     78528    SH          Sole                                        78528
MCI WorldCom                     COM    55268b106   11809    222538    SH          Sole             2       1200              221338
Mascotech Corp                   COM    57632n105     152     12000    SH          Sole                                        12000
Maxim Integrated Products        COM    57772k101   45206    958000    SH          Sole                                       958000
McDonald's Corp                  COM    580135101    1389     34453    SH          Sole                                        34453
Medford Bancorp                  COM    584303101    1982    119238    SH          Sole             2       6448              112790
MediaOne Group Inc               COM    58440j104    1866     24290    SH          Sole                                        24290
</TABLE>
<PAGE>
                            Baldwin Brothers, Inc.
                                   FORM 13F
                               Baldwin Brothers
                               December 31, 1999
<TABLE>
<CAPTION>
                                                                                                                Voting Authority
                                Title                                                                      -------------------------
                                 of                 Value    Shares/   Sh/  Put/  Invstmt      Other
       Name of Issuer           class     CUSIP    (x$1000)  Prn Amt   Prn  Call  Dscretn    Managers      Sole     Shared    None
- ------------------------------  -----   ---------  --------  -------   ---  ----  -------    --------      ----     ------  --------
<S>                             <C>     <C>        <C>       <C>      <C>   <C>   <C>        <C>        <C>     <C>        <C>
Mediscience                      COM    585901101      24    120000    SH          Sole                                       120000
Medtronic                        COM    585055106    9038    248050    SH          Sole                                       248050
Mellon Financial Corp            COM    58551a108     341     10000    SH          Sole                                        10000
Merck & Co                       COM    589331107   12501    186054    SH          Sole                                       186054
Mercury Genl Corp                COM    589400100     267     12000    SH          Sole                                        12000
MicroTel Intl Inc New (restric   COM    59514K209      36     82067    SH          Sole             3       8189               73878
Microsoft Corp Wash              COM    594918104    6836     58552    SH          Sole                                        58552
Miller Inds                      COM    600551105    1035    360000    SH          Sole                                       360000
Minnesota Mng & Mfg Co           COM    604059105    1498     15310    SH          Sole                                        15310
Morgan Stanley Dean Witter Dis   COM    617446448    1082      7578    SH          Sole                                         7578
Motorola                         COM    620076109    3873     26300    SH          Sole                                        26300
National City Corp               COM    635405103    1946     82170    SH          Sole                                        82170
Network Appliance                COM    64120L104     478      5750    SH          Sole             2        400                5350
Network Associates               COM    640938106    5487    205600    SH          Sole         2 & 4        900              204700
New Era of Networks              COM    644312100    2272     47700    SH          Sole             2        500               47200
News Corp Ltd Spd Pref ADR       COM                  474     14174    SH          Sole                                        14174
Nokia Corp Sponsored ADR         COM    654902204     284      3100    SH          Sole                                         3100
Norfolk Southern Corp            COM    655844108     242     11800    SH          Sole                                        11800
Nortel Networks Corp             COM    665815106     657      6500    SH          Sole                                         6500
Oak Inds                         COM    671400505   14964    141000    SH          Sole                                       141000
Office Depot                     COM    676220106     138     12575    SH          Sole             2       1323               11252
Optika                           COM    683973101    2914    209100    SH          Sole             2      11500              197600
Oracle Sys Corp                  COM    68389X105   38115    340124    SH          Sole             2       1975              338149
PNC Bank                         COM    693475105    3360     75508    SH          Sole                                        75508
PPG Industries                   COM    693506107     616      9842    SH          Sole                                         9842
Parametric Technology            COM    699173100     414     15300    SH          Sole                                        15300
Pepsico Inc                      COM    713448108    3289     93313    SH          Sole             4        200               93113
Pfizer Inc                       COM    717081103    2526     77875    SH          Sole                                        77875
Philip Morris Cos                COM    718154107     334     14515    SH          Sole                                        14515
Procter & Gamble Co              COM    742718109    9939     90713    SH          Sole                                        90713
Protein Design Labs              COM    74369L103    3326     47510    SH          Sole             2       1500               46010
Providian Corp                   COM    744061102    4513     49559    SH          Sole                                        49559
QUALCOMM                         COM    747525103  134934    766124    SH          Sole         4 & 5      14400              751724
QWEST Communications Intl        COM    749121109    1402     32600    SH          Sole                                        32600
Quintiles Transnational Corp     COM    748767100     355     19000    SH          Sole                                        19000
Raytheon Co New CL B             COM    755111408     393     14800    SH          Sole                                        14800
Reuters Group plc ADR            COM    76132M102     280      3466    SH          Sole                                         3466
Roper Industries Inc             COM    776696106     428     11320    SH          Sole                                        11320
Royal Dutch Pete NLG 1.25        COM    780257705    6111    100898    SH          Sole                                       100898
SBC Communications Inc PV$1      COM    78387G103    1202     24664    SH          Sole                                        24664
Sara Lee Corp                    COM    803111103     545     24710    SH          Sole                                        24710
Schering Plough Corp             COM    806605101     337      7960    SH          Sole                                         7960
Schlumberger                     COM    806857108    1719     30633    SH          Sole                                        30633
Seacoast Financial Svcs Corp     COM    81170q106     543     53250    SH          Sole                                        53250
Servicemaster Co.                COM    81760N109     432     35118    SH          Sole                                        35118
Sherwin Williams Co              COM    824348106    1380     65700    SH          Sole             5        200
Smithkline Beecham ADS           COM    832378301    1000     15599    SH          Sole                                        15599
Sprint Corp                      COM    852061100     387      5750    SH          Sole                                         5750
Sprint Corp (PCS Group)          COM    852061506     351      3420    SH          Sole                                         3420
</TABLE>
<PAGE>
                            Baldwin Brothers, Inc.
                                   FORM 13F
                               Baldwin Brothers
                               December 31, 1999
<TABLE>
<CAPTION>
                                                                                                                Voting Authority
                                Title                                                                      -------------------------
                                 of                 Value    Shares/   Sh/  Put/  Invstmt      Other
       Name of Issuer           class     CUSIP    (x$1000)  Prn Amt   Prn  Call  Dscretn    Managers      Sole     Shared    None
- ------------------------------  -----   ---------  --------  -------   ---  ----  -------    --------      ----     ------  --------
<S>                             <C>     <C>        <C>       <C>      <C>   <C>   <C>        <C>        <C>     <C>        <C>
St. Joe Co                       COM    790148100     247     10158    SH          Sole                                        10158
Staples                          COM    855030102    5733    276290    SH          Sole             2       2000              274290
State Street Corp                COM    857477103     258      3525    SH          Sole                                         3525
Sun Microsystem Inc              COM    866810104    8712    112500    SH          Sole             2        100              112400
Supertex                         COM    868532102    1009     50000    SH          Sole                                        50000
Sybron Intl corp Wisc            COM    87114F106     951     38525    SH          Sole                                        38525
Teleflex Inc.                    COM    879369106     200      6400    SH          Sole                                         6400
Time Warner Inc                  COM    887315109     734     10150    SH          Sole                                        10150
Transwitch Corp                  COM    894065101    3926     54099    SH          Sole             4        600               53499
Tyco International Limited       COM    902124106    1564     40096    SH          Sole             2       1500               38596
U S West Inc                     COM    91273h101    1065     14794    SH          Sole                                        14794
United Technologies Corp         COM    913017109     221      3400    SH          Sole                                         3400
UnumProvident Corp               COM    91529y106    1142     35625    SH          Sole                                        35625
Wal Mart Stores Inc              COM    931142103    1302     18830    SH          Sole                                        18830
Walgreen Company                 COM    931422109    1382     47250    SH          Sole                                        47250
Warner Lambert Co                COM    934488107     473      5768    SH          Sole                                         5768
Whirlpool Corp                   COM    963320106     390      6000    SH          Sole                                         6000
Williams Companies               COM    969457100    2978     97450    SH          Sole                                        97450
Xerox Corp                       COM    984121103     343     15110    SH          Sole                                        15110
Young & Rubicam                  COM    987425105     377      8300    SH          Sole                                         8300
Alliance Cap Mgt Holding LP      MLP    01855A101    4443    148399    SH          Sole             2       4000              144399
Buckeye Partners L P             MLP    118230101    1756     67554    SH          Sole             2        400               67154
Crown Pacific Partners L.P.      MLP    228439105     551     30850    SH          Sole                                        30850
El Paso Energy Partners          MLP    28368b102    2598    136723    SH          Sole             2        800              135923
Kinder Morgan Energy Partners,   MLP    494550106    8225    198482    SH          Sole             2        500              197982
Lakehead Pipeline PS L P         MLP    511557100    2078     59700    SH          Sole                                        59700
Northern Border Partners L P     MLP    664785102    1668     72500    SH          Sole                                        72500
PIMCO Advisors Cl A LP           MLP    69338p102     927     24586    SH          Sole             2        500               24086
TC Pipeline LP                   MLP    87233q108     436     30900    SH          Sole                                        30900
Teppco Partners L P              MLP    872384102    2788    144366    SH          Sole             2        800              143566
Carrefour SA FRF Par Ordinary    FORGN                275      1500    SH          Sole                                         1500
Dordtsche Petrol .65NLG Ord      FORGN  n27145189     263      5120    SH          Sole                                         5120
Hays PLC 1P Gbp Par Ordinary     FORGN                445     28000    SH          Sole                                        28000
Koninklijke Numico NV (EUR) 0.   FORGN                223      6000    SH          Sole                                         6000
Shire Pharmaceuticals Grp adr    FORGN  82481r106    6524    224000    SH          Sole                                       224000
REPORT SUMMARY:  231 DATA RECORDS                            766690     0  OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
                                                            -------
                                                             750547
</TABLE>
Do not save this screen as a text file. This report automatically creates the
text file 13ftable.txt, which meets all SEC filing requirements. For details on
the location of this text file, see your 705 Report documentation.


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