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<PAGE>
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT
MANAGERS PURSUANT TO SECTION 13(f) OF THE SECURITIES
EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Securities and Exchange Commission
Washington, D.C. 20549
Report for the Calendar Quarter Ended 6/30/99
-------
If amended report check here: |_|
Name of Institutional Manager:
Welch & Forbes, Inc.
- --------------------------------------------------------------------------------
Business Address:
Street 45 School Street City Boston State MA Zip 02108
----------------- -------- --- ------
Name, Phone No. and Title of Person Duly Authorized to Submit Report:
V. William Efthim, (617) 523-1635, Vice President
- --------------------------------------------------------------------------------
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all the
information contained therein is true, correct and complete. It is
understood that all the 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 Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be
signed on his behalf in the City of Boston and State of Massachusetts on the
14th day of July, 1999
WELCH & FORBES, INC.
-----------------------------------
-----------------------------------
Name and 13F file numbers of all Institutional Investment Managers with
respect to which this schedule is filed (other than the one filing this
report).
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 1
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON
------
A T & T CORP 001957109 743,031.84 13313 X 0 0 13313
5,705,006.33 102217 X 0 0 102217
----------------- -------------- ------------- ---------- ----------
6,448,038.17 115530 0 0 115530
A T & T CORP-LIBERTY MEDIA 001957208 3,386,071.50 92138 X 0 0 92138
GROUP A
ABBOTT LABS 002824100 12,984,510.01 286160 X 0 0 286160
47,236,827.01 1041032 X 0 0 1041032
----------------- -------------- ------------- ---------- ----------
60,221,337.02 1327192 0 0 1327192
ABTECH INDUSTRIES INC 00352099A 30,003.75 5715 X 0 0 5715
44,997.75 8571 X 0 0 8571
----------------- -------------- ------------- ---------- ----------
75,001.50 14286 0 0 14286
ADAPTEC INC 00651F108 211,872.00 6000 X 0 0 6000
AETNA INC 008117103 846,525.94 9465 X 0 0 9465
AFLAC INC 001055102 722,098.63 15083 X 1000 0 14083
512,262.50 10700 X 0 0 10700
----------------- -------------- ------------- ---------- ----------
1,234,361.13 25783 1000 0 24783
AIR PRODS & CHEMS INC 009158106 116,725.00 2900 X 0 0 2900
8,123,456.25 201825 X 0 0 201825
----------------- -------------- ------------- ---------- ----------
8,240,181.25 204725 0 0 204725
AIRTOUCH COMMUNICATIONS 00949T100 629,141.66 5844 X 0 0 5844
7,587,702.54 70481 X 0 0 70481
----------------- -------------- ------------- ---------- ----------
8,216,844.20 76325 0 0 76325
ALBERTSONS INC 013104104 20,625.00 400 X 0 0 400
304,631.25 5908 X 0 0 5908
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 89,205,488.96 1877752 1000 0 1876752
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 2
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
325,256.25 6308 0 0 6308
ALCOA INC. 013817101 173,250.00 2800 X 0 0 2800
451,687.50 7300 X 0 0 7300
----------------- -------------- ------------- ---------- ----------
624,937.50 10100 0 0 10100
ALLEGIANCE TELECOM INC 01747T102 101,518.75 1850 X 0 0 1850
960,312.50 17500 X 0 0 17500
----------------- -------------- ------------- ---------- ----------
1,061,831.25 19350 0 0 19350
ALLIANT ENERGY CORP 018802108 5,675.00 200 X 0 0 200
3,205,750.75 112978 X 0 0 112978
----------------- -------------- ------------- ---------- ----------
3,211,425.75 113178 0 0 113178
ALLIED SIGNAL INC 019512102 34,272.00 544 X 0 0 544
176,400.00 2800 X 0 0 2800
----------------- -------------- ------------- ---------- ----------
210,672.00 3344 0 0 3344
ALLSTATE CORP 020002101 48,431.25 1350 X 0 0 1350
2,283,407.88 63649 X 0 0 63649
----------------- -------------- ------------- ---------- ----------
2,331,839.13 64999 0 0 64999
ALLTEL CORP 020039103 1,055,626.00 14764 X 0 0 14764
11,769,400.50 164607 X 0 0 164607
----------------- -------------- ------------- ---------- ----------
12,825,026.50 179371 0 0 179371
ALZA CORP DEL 022615108 50,875.00 1000 X 0 0 1000
3,205,125.00 63000 X 0 0 63000
----------------- -------------- ------------- ---------- ----------
3,256,000.00 64000 0 0 64000
AMERICA ONLINE INC 02364J104 440,000.00 4000 X 0 0 4000
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 23,961,732.13 458342 0 0 458342
</TABLE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 3
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
AMERICAN BIOGENETIC 024611105 10,000.00 10000 X 0 0 10000
AMERICAN ELEC PWR INC 025537101 245,921.69 6547 X 0 0 6547
AMERICAN EXPRESS CO 025816109 593,370.00 4560 X 0 0 4560
6,720,696.02 51648 X 0 0 51648
----------------- -------------- ------------- ---------- ----------
7,314,066.02 56208 0 0 56208
AMERICAN GENERAL CORP 026351106 516,544.90 6853 X 0 0 6853
19,131,079.51 253812 X 0 0 253812
----------------- -------------- ------------- ---------- ----------
19,647,624.41 260665 0 0 260665
AMERICAN HOME PRODS CORP 026609107 1,481,020.88 25813 X 0 0 25813
41,149,923.76 717210 X 0 0 717210
----------------- -------------- ------------- ---------- ----------
42,630,944.64 743023 0 0 743023
AMERICAN INTL GROUP 026874107 4,083,700.25 34829 X 700 0 34129
86,655,254.00 739064 X 0 0 739064
----------------- -------------- ------------- ---------- ----------
90,738,954.25 773893 700 0 773193
AMERICAN WTR WKS INC 030411102 492,000.00 16000 X 0 0 16000
AMERITECH CORP NEW 030954101 217,560.00 2960 X 0 0 2960
3,113,313.00 42358 X 0 0 42358
----------------- -------------- ------------- ---------- ----------
3,330,873.00 45318 0 0 45318
AMGEN INC 031162100 206,366.25 3390 X 400 0 2990
5,997,405.00 98520 X 0 0 98520
----------------- -------------- ------------- ---------- ----------
6,203,771.25 101910 400 0 101510
ANADARKO PETE CORP 032511107 450,069.63 12226 X 0 0 12226
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 171,064,224.89 2025790 1100 0 2024690
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 4
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
ANALOG DEVICES INC 032654105 218,315.63 4350 X 0 0 4350
1,661,708.13 33110 X 0 0 33110
----------------- -------------- ------------- ---------- ----------
1,880,023.76 37460 0 0 37460
ANHEUSER BUSCH COS INC 035229103 10,442,000.00 147200 X 0 0 147200
ANIKA THERAPEUTICS INC 035255108 352,206.00 41436 X 0 0 41436
APPLIED MATLS INC 038222105 339,825.00 4600 X 0 0 4600
2,848,767.75 38562 X 0 0 38562
----------------- -------------- ------------- ---------- ----------
3,188,592.75 43162 0 0 43162
AQUAFUTURE 0383799A3 933,975.00 1575 X 0 0 1575
ARGUS SOFTWARE 0402769C3 9,600.00 8000 X 0 0 8000
903,000.00 752500 X 0 0 752500
----------------- -------------- ------------- ---------- ----------
912,600.00 760500 0 0 760500
ARGUSS HLDGS INC 040282105 785,847.63 41498 X 0 0 41498
ATLANTIC RICHFIELD CO 048825103 80,637.82 965 X 0 0 965
6,239,444.79 74668 X 0 0 74668
----------------- -------------- ------------- ---------- ----------
6,320,082.61 75633 0 0 75633
AU BON PAIN INC B 050990100 21,216.44 4297 X 0 0 4297
699,115.46 141593 X 0 0 141593
----------------- -------------- ------------- ---------- ----------
720,331.90 145890 0 0 145890
AUTOMATIC DATA PROCESSING 053015103 1,049,972.00 23863 X 500 0 23363
6,155,424.00 139896 X 0 0 139896
----------------- -------------- ------------- ---------- ----------
7,205,396.00 163759 500 0 163259
AVALONBAY COMMUNITIES INC 053484101 246,679.00 6667 X 0 0 6667
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 32,987,734.65 1464780 500 0 1464280
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 5
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
AVANDEL HEALTHCARE INC 9899479J7 750,000.00 750000 X 0 0 750000
AVERY DENNISON CORP 053611109 609,787.50 10100 X 0 0 10100
AVERY DEWING CORP 0536229A6 654,385.68 1083 X 0 0 1083
AVIRON 053762100 77,625.00 2700 X 0 0 2700
371,622.50 12926 X 0 0 12926
----------------- -------------- ------------- ---------- ----------
449,247.50 15626 0 0 15626
BANK NEW YORK INC 064057102 579,038.81 15783 X 0 0 15783
1,852,718.75 50500 X 0 0 50500
----------------- -------------- ------------- ---------- ----------
2,431,757.56 66283 0 0 66283
BANK OF AMERICA CORPORATION 060505104 335,624.63 4578 X 0 0 4578
6,700,762.51 91400 X 0 0 91400
----------------- -------------- ------------- ---------- ----------
7,036,387.14 95978 0 0 95978
BANK ONE CORPORATION 06423A103 516,645.13 8674 X 0 0 8674
17,491,362.05 293664 X 0 0 293664
----------------- -------------- ------------- ---------- ----------
18,008,007.18 302338 0 0 302338
BANKBOSTON CORP 06605R106 16,360.00 320 X 0 0 320
2,250,420.25 44018 X 0 0 44018
----------------- -------------- ------------- ---------- ----------
2,266,780.25 44338 0 0 44338
BANYAN SYS INC 066908104 3,930,867.17 359410 X 0 0 359410
BAXTER INTL INC 071813109 1,023,835.00 16888 X 0 0 16888
BEACON CAP PARTNERS INC 073561102 1,320,000.00 66000 X 0 0 66000
BECTON DICKINSON & CO 075887109 126,000.00 4200 X 0 0 4200
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 38,607,054.98 1732244 0 0 1732244
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 6
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
234,000.00 7800 X 0 0 7800
----------------- -------------- ------------- ---------- ----------
360,000.00 12000 0 0 12000
BELL ATLANTIC CORP 077853109 768,548.50 11756 X 0 0 11756
2,356,638.00 36048 X 0 0 36048
----------------- -------------- ------------- ---------- ----------
3,125,186.50 47804 0 0 47804
BELLSOUTH CORP 079860102 430,069.50 9324 X 0 0 9324
35,424,738.01 768016 X 0 0 768016
----------------- -------------- ------------- ---------- ----------
35,854,807.51 777340 0 0 777340
BELO A H CORP DEL 080555105 1,378,597.50 70024 X 0 0 70024
BERKSHIRE HATHAWAY INC B 084670207 987,840.00 441 X 0 0 441
31,866,240.00 14226 X 0 0 14226
----------------- -------------- ------------- ---------- ----------
32,854,080.00 14667 0 0 14667
BERKSHIRE HATHAWAY INC CL A 084670108 275,600.00 4 X 0 0 4
CONV
BESTFOODS 08658U101 1,620,729.00 32742 X 0 0 32742
BIOGEN INC 090597105 1,003,267.20 15600 X 0 0 15600
BLACK & DECKER CORP 091797100 1,396,830.00 22128 X 0 0 22128
BLACK BOX CORP DEL 091826107 160,400.00 3200 X 0 0 3200
431,075.00 8600 X 0 0 8600
----------------- -------------- ------------- ---------- ----------
591,475.00 11800 0 0 11800
BLUE DIAMOND OIL CORP 095599908 134,400.00 22400 X 0 0 22400
BOSTON PRIVATE FINANCIAL 101119105 180,000.00 24000 X 0 0 24000
HOLDINGS INC
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 78,648,972.71 1046309 0 0 1046309
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 7
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
BOSTON SCIENTIFIC CORP 101137107 592,716.88 13490 X 0 0 13490
1,583,243.88 36034 X 0 0 36034
----------------- -------------- ------------- ---------- ----------
2,175,960.76 49524 0 0 49524
BRISTOL MYERS SQUIBB CO 110122108 3,766,011.38 53466 X 0 0 53466
36,045,263.66 511734 X 0 0 511734
----------------- -------------- ------------- ---------- ----------
39,811,275.04 565200 0 0 565200
BROKEN HILL PROPRIETARY LTD 112169602 271,082.50 11414 X 0 0 11414
ADR
BROOKLINE BANCCORP INC 113739106 144,709.99 12516 X 0 0 12516
BURLINGTN NORTHN SANTA FE 12189T104 826,119.00 26649 X 0 0 26649
BURLINGTON RESOURCES INC 122014103 538,116.50 12442 X 0 0 12442
CABLESOFT CORP 1269109D2 175.72 4393 X 0 0 4393
12,709.80 317745 X 0 0 317745
----------------- -------------- ------------- ---------- ----------
12,885.52 322138 0 0 322138
CABOT CORP 127055101 1,172,319.76 48468 X 0 0 48468
CABOT INDUSTRIAL TRUST 127072106 331,075.00 15580 X 0 0 15580
11,504,750.00 541400 X 0 0 541400
----------------- -------------- ------------- ---------- ----------
11,835,825.00 556980 0 0 556980
CAIRNSTONE INC 1277669C9 0.00 200000 X 0 0 200000
CAMPBELL SOUP CO 134429109 81,156.25 1750 X 0 0 1750
10,308,698.75 222290 X 0 0 222290
----------------- -------------- ------------- ---------- ----------
10,389,855.00 224040 0 0 224040
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 67,178,149.07 2029371 0 0 2029371
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 8
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
CAPITAL ONE FINL CORP 14040H105 1,353,206.25 24300 X 0 0 24300
CARDINAL HEALTH INC 14149Y108 382,826.25 5970 X 0 0 5970
2,626,303.50 40956 X 0 0 40956
----------------- -------------- ------------- ---------- ----------
3,009,129.75 46926 0 0 46926
CAROLINA PWR & LT CO 144141108 196,937.50 4600 X 0 0 4600
4,388,281.27 102500 X 0 0 102500
----------------- -------------- ------------- ---------- ----------
4,585,218.77 107100 0 0 107100
CATERPILLAR INC 149123101 173,280.00 2888 X 0 0 2888
436,800.00 7280 X 0 0 7280
----------------- -------------- ------------- ---------- ----------
610,080.00 10168 0 0 10168
CBS CORP 12490K107 736,206.29 16900 X 0 0 16900
4,262,590.64 97850 X 0 0 97850
----------------- -------------- ------------- ---------- ----------
4,998,796.93 114750 0 0 114750
CENTAUR INC 151327996 111,639.00 74426 X 0 0 74426
CHAMPION ENTERPRISES INC 158496109 233,743.75 12550 X 0 0 12550
3,101,993.75 166550 X 0 0 166550
----------------- -------------- ------------- ---------- ----------
3,335,737.50 179100 0 0 179100
CHASE GEN CORP 161555107 0.00 19129 X 0 0 19129
CHASE MANHATTAN CORP NEW 16161A108 77,850.00 900 X 0 0 900
272,994.00 3156 X 0 0 3156
----------------- -------------- ------------- ---------- ----------
350,844.00 4056 0 0 4056
CHEVRON CORP 166751107 353,632.50 3720 X 0 0 3720
6,751,623.97 71023 X 0 0 71023
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 25,459,908.67 654698 0 0 654698
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 9
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
7,105,256.47 74743 0 0 74743
CHOICEPOINT INC 170388102 140,962.50 2100 X 0 0 2100
59,070.00 880 X 0 0 880
----------------- -------------- ------------- ---------- ----------
200,032.50 2980 0 0 2980
CHUBB CORP 171232101 2,040,798.00 29364 X 0 0 29364
CIGNA CORP 125509109 3,274,577.00 36793 X 0 0 36793
CINTAS CORP 172908105 3,034,836.82 45170 X 1000 0 44170
45,789,015.53 681516 X 0 0 681516
----------------- -------------- ------------- ---------- ----------
48,823,852.35 726686 1000 0 725686
CISCO SYSTEMS INC 17275R102 3,429,466.01 53222 X 1000 0 52222
21,713,980.26 336980 X 0 0 336980
----------------- -------------- ------------- ---------- ----------
25,143,446.27 390202 1000 0 389202
CITIGROUP INC. 172967101 853,812.50 17975 X 1450 0 16525
2,253,827.50 47449 X 0 0 47449
----------------- -------------- ------------- ---------- ----------
3,107,640.00 65424 1450 0 63974
CLARITY IMAGING TECHNOLOGIES 170000954 0.00 120000 X 0 0 120000
INC
CLOSURE MED CORP 189093107 126,300.00 4210 X 0 0 4210
684,000.00 22800 X 0 0 22800
----------------- -------------- ------------- ---------- ----------
810,300.00 27010 0 0 27010
CMGI INC 125750109 22,812.40 200 X 0 0 200
3,351,141.56 29380 X 0 0 29380
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 86,774,600.08 1428039 3450 0 1424589
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 10
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
3,373,953.96 29580 0 0 29580
COCA COLA CO 191216100 373,240.00 6020 X 0 0 6020
17,951,728.00 289544 X 0 0 289544
----------------- -------------- ------------- ---------- ----------
18,324,968.00 295564 0 0 295564
COGNEX CORP 192422103 387,581.36 12280 X 0 0 12280
16,737,644.22 530310 X 0 0 530310
----------------- -------------- ------------- ---------- ----------
17,125,225.58 542590 0 0 542590
COLGATE PALMOLIVE CO 194162103 505,797.50 5135 X 0 0 5135
8,185,153.00 83098 X 0 0 83098
----------------- -------------- ------------- ---------- ----------
8,690,950.50 88233 0 0 88233
COMERICA INC 200340107 236,085.75 3972 X 0 0 3972
COMPAQ COMPUTER CORP 204493100 131,986.75 5572 X 0 0 5572
360,642.19 15225 X 0 0 15225
----------------- -------------- ------------- ---------- ----------
492,628.94 20797 0 0 20797
COMPUTER SCIENCES CORP 205363104 941,641.88 13610 X 0 0 13610
CONAGRA INC 205887102 271,095.75 10182 X 0 0 10182
CONCORD EFS INC 206197105 275,028.00 6500 X 0 0 6500
528,900.00 12500 X 0 0 12500
----------------- -------------- ------------- ---------- ----------
803,928.00 19000 0 0 19000
CONSOLIDATED STORES CORP 210149100 456,732.00 16916 X 0 0 16916
CORNING INC 219350105 35,062.50 500 X 0 0 500
5,890,922.72 84006 X 0 0 84006
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 53,269,241.62 1095370 0 0 1095370
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 11
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
5,925,985.22 84506 0 0 84506
CORP FOR LASER OPTICS RES 2200359A9 12,501.00 6945 X 0 0 6945
137,500.20 76389 X 0 0 76389
----------------- -------------- ------------- ---------- ----------
150,001.20 83334 0 0 83334
COX COMMUNICATIONS INC A 224044107 276,903.63 7522 X 0 0 7522
1,306,806.94 35499 X 0 0 35499
----------------- -------------- ------------- ---------- ----------
1,583,710.57 43021 0 0 43021
CSX CORP 126408103 233,227.50 5140 X 0 0 5140
CVS CORP 126650100 305,515.00 6020 X 0 0 6020
DAYTON HUDSON CORP 239753106 325,650.00 5010 X 0 0 5010
DEVRY INC DEL 251893103 241,650.00 10800 X 0 0 10800
DIAMOND TECHNOLOGY PARTNERS 252762109 22,375.00 1000 X 0 0 1000
924,087.50 41300 X 0 0 41300
----------------- -------------- ------------- ---------- ----------
946,462.50 42300 0 0 42300
DIGITRACE CARE SYS 2538979A2 60,000.00 20000 X 0 0 20000
DII GROUP INC 232949107 3,136,484.04 84061 X 0 0 84061
DISNEY WALT CO 254687106 491,705.88 15958 X 0 0 15958
2,843,870.59 92296 X 0 0 92296
----------------- -------------- ------------- ---------- ----------
3,335,576.47 108254 0 0 108254
DOMINION RES INC VA 257470104 225,225.00 5200 X 0 0 5200
DOVER CORP 260003108 168,000.00 4800 X 0 0 4800
27,048,910.00 772826 X 0 0 772826
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 37,760,412.28 1190766 0 0 1190766
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 12
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
27,216,910.00 777626 0 0 777626
DOW CHEM CO 260543103 5,713,181.37 45030 X 0 0 45030
DOW JONES & CO INC 260561105 663,281.25 12500 X 0 0 12500
DPL INC 233293109 17,334.50 937 X 0 0 937
473,137.50 25575 X 0 0 25575
----------------- -------------- ------------- ---------- ----------
490,472.00 26512 0 0 26512
DU PONT E I DE NEMOURS 263534109 980,557.63 14354 X 300 0 14054
24,492,549.79 358537 X 0 0 358537
----------------- -------------- ------------- ---------- ----------
25,473,107.42 372891 300 0 372591
DUKE ENERGY CORP 264399106 287,430.01 5280 X 0 0 5280
312,035.76 5732 X 0 0 5732
----------------- -------------- ------------- ---------- ----------
599,465.77 11012 0 0 11012
DUN & BRADSTREET CORP 26483B106 708,891.76 20004 X 0 0 20004
E M C CORP MASS 268648102 2,906,970.00 52854 X 1000 0 51854
19,888,165.00 361603 X 0 0 361603
----------------- -------------- ------------- ---------- ----------
22,795,135.00 414457 1000 0 413457
E TOWN 269242103 344,772.00 7536 X 0 0 7536
EASTMAN KODAK CO 277461109 17,682.75 261 X 0 0 261
594,438.50 8774 X 0 0 8774
----------------- -------------- ------------- ---------- ----------
612,121.25 9035 0 0 9035
EATON VANCE CORP NON VTG 278265103 330,600.00 9600 X 0 0 9600
EDO CORP 281347104 171,100.00 23600 X 0 0 23600
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 57,902,127.82 952177 1300 0 950877
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 13
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
EDUCATION PARTNERS LP III 2813909B2 15,385.00 1000 X 0 0 1000
251,775.53 16365 X 0 0 16365
----------------- -------------- ------------- ---------- ----------
267,160.53 17365 0 0 17365
ELAN PLC ADR 284131208 47,175.00 1700 X 0 0 1700
4,476,324.75 161309 X 0 0 161309
----------------- -------------- ------------- ---------- ----------
4,523,499.75 163009 0 0 163009
EMERSON ELEC CO 291011104 741,152.02 11776 X 0 0 11776
10,911,915.02 173377 X 0 0 173377
----------------- -------------- ------------- ---------- ----------
11,653,067.04 185153 0 0 185153
EMPOWER 2921999A6 200,000.00 100000 X 0 0 100000
ENERGYNORTH INC 292925104 519,630.69 17957 X 0 0 17957
ENRON CORP 293561106 248,111.25 3035 X 0 0 3035
1,247,668.50 15262 X 0 0 15262
----------------- -------------- ------------- ---------- ----------
1,495,779.75 18297 0 0 18297
EPICON INC 2942559C0 0.00 108350 X 0 0 108350
EQUIFAX INC 294429105 158,809.38 4450 X 0 0 4450
471,075.00 13200 X 0 0 13200
----------------- -------------- ------------- ---------- ----------
629,884.38 17650 0 0 17650
EQUITY OFFICE PPTYS TR 294741103 206,101.88 8043 X 0 0 8043
5,218,813.18 203661 X 0 0 203661
----------------- -------------- ------------- ---------- ----------
5,424,915.06 211704 0 0 211704
EXXON CORP 302290101 14,950,064.27 193842 X 500 0 193342
142,461,135.36 1847146 X 0 0 1847146
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 182,125,136.83 2880473 500 0 2879973
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 14
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
157,411,199.63 2040988 500 0 2040488
FEDERAL NATL MTG ASSN 313586109 443,625.00 6500 X 0 0 6500
2,039,378.25 29881 X 0 0 29881
----------------- -------------- ------------- ---------- ----------
2,483,003.25 36381 0 0 36381
FIDUCIARY CO INC 316476902 270,375.00 1250 X 0 0 1250
FIFTH THIRD BANCORP 316773100 102,305.79 1537 X 0 0 1537
99,843.00 1500 X 0 0 1500
----------------- -------------- ------------- ---------- ----------
202,148.79 3037 0 0 3037
FIRST DATA CORP 319963104 489,375.00 10000 X 0 0 10000
FIRST UNION CORP 337358105 23,562.50 500 X 0 0 500
731,615.63 15525 X 0 0 15525
----------------- -------------- ------------- ---------- ----------
755,178.13 16025 0 0 16025
FIRSTAR CORP NEW WIS 33763V109 4,824,456.00 172302 X 0 0 172302
FLEET FINL GROUP INC NEW 338915101 297,312.50 6700 X 0 0 6700
10,060,433.75 226714 X 0 0 226714
----------------- -------------- ------------- ---------- ----------
10,357,746.25 233414 0 0 233414
FOCUS ENHANCEMENT 344159108 1,539.28 1493 X 0 0 1493
60,875.39 59045 X 0 0 59045
----------------- -------------- ------------- ---------- ----------
62,414.67 60538 0 0 60538
FPL GROUP INC 302571104 158,412.50 2900 X 0 0 2900
694,229.13 12709 X 0 0 12709
----------------- -------------- ------------- ---------- ----------
852,641.63 15609 0 0 15609
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 20,297,338.72 548556 0 0 548556
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 15
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
GAMEWRIGHT INC 364625996 6,250.00 6250 X 0 0 6250
156,150.00 156150 X 0 0 156150
----------------- -------------- ------------- ---------- ----------
162,400.00 162400 0 0 162400
GANNETT INC 364730101 628,171.38 8801 X 0 0 8801
GATEFIELD CORP 367339108 6,200.00 10000 X 0 0 10000
GELTEX PHARMACEUTICALS 368538104 9,900.00 550 X 0 0 550
741,600.00 41200 X 0 0 41200
----------------- -------------- ------------- ---------- ----------
751,500.00 41750 0 0 41750
GENERAL ELEC CO 369604103 10,280,627.00 90979 X 700 0 90279
205,576,154.00 1819258 X 0 0 1819258
----------------- -------------- ------------- ---------- ----------
215,856,781.00 1910237 700 0 1909537
GENERAL MLS INC 370334104 278,579.75 3466 X 0 0 3466
7,124,922.26 88646 X 0 0 88646
----------------- -------------- ------------- ---------- ----------
7,403,502.01 92112 0 0 92112
GENERAL MTRS CORP 370442105 33,000.00 500 X 0 0 500
262,152.00 3972 X 0 0 3972
----------------- -------------- ------------- ---------- ----------
295,152.00 4472 0 0 4472
GENERAL ORTHOPEDICS 3719909F1 0.00 18067 X 0 0 18067
GENRAD INC 372447102 44,887.50 2100 X 0 0 2100
2,792,173.50 130628 X 0 0 130628
----------------- -------------- ------------- ---------- ----------
2,837,061.00 132728 0 0 132728
GENUINE PARTS CO 372460105 560,000.00 16000 X 0 0 16000
GENZYME CORP 372917104 532,433.00 10978 X 0 0 10978
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 229,033,200.39 2407545 700 0 2406845
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 16
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
13,300,785.50 274243 X 0 0 274243
----------------- -------------- ------------- ---------- ----------
13,833,218.50 285221 0 0 285221
GENZYME CORP TISSUE REPAIR 372917401 5,150.62 2536 X 0 0 2536
205,732.18 101296 X 0 0 101296
----------------- -------------- ------------- ---------- ----------
210,882.80 103832 0 0 103832
GEOPETRO COMPANY 373160993 151,000.00 302000 X 0 0 302000
GEORGIA PAC CORP 373298108 593,987.75 12538 X 0 0 12538
GILLETTE CO 375766102 1,741,270.00 42470 X 0 0 42470
30,557,136.00 745296 X 0 0 745296
----------------- -------------- ------------- ---------- ----------
32,298,406.00 787766 0 0 787766
GREAT LAKES CHEM CORP 390568103 147,400.00 3200 X 0 0 3200
1,578,884.32 34277 X 0 0 34277
----------------- -------------- ------------- ---------- ----------
1,726,284.32 37477 0 0 37477
GREEN POWER ASIA LTD 393400999 0.00 620375 X 0 0 620375
GSI LUMONICS 36229U102 256,738.20 67350 X 0 0 67350
GTE CORP 362320103 733,860.00 9720 X 0 0 9720
18,620,624.65 246631 X 0 0 246631
----------------- -------------- ------------- ---------- ----------
19,354,484.65 256351 0 0 256351
HALLIBURTON CO 406216101 45,250.00 1000 X 0 0 1000
623,545.00 13780 X 0 0 13780
----------------- -------------- ------------- ---------- ----------
668,795.00 14780 0 0 14780
HANNAFORD BROS CO 410550107 401,250.00 7500 X 0 0 7500
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 68,962,614.22 2484212 0 0 2484212
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 17
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
HARCOURT GEN INC 41163G101 206,250.00 4000 X 0 0 4000
HARTFORD FINL SVCS GROUP 416515104 65,310.00 1120 X 0 0 1120
761,911.13 13066 X 0 0 13066
----------------- -------------- ------------- ---------- ----------
827,221.13 14186 0 0 14186
HEINZ H J CO 423074103 70,175.00 1400 X 0 0 1400
571,425.00 11400 X 0 0 11400
----------------- -------------- ------------- ---------- ----------
641,600.00 12800 0 0 12800
HELIX TECHNOLOGY CORP 423319102 363,842.40 15200 X 0 0 15200
HEMAGEN DIAGNOSTICS INC 423501105 98,750.00 79000 X 0 0 79000
HEWLETT PACKARD CO 428236103 2,679,330.00 26660 X 0 0 26660
52,212,865.50 519531 X 0 0 519531
----------------- -------------- ------------- ---------- ----------
54,892,195.50 546191 0 0 546191
HOME DEPOT INC 437076102 2,899,687.50 45000 X 1400 0 43600
47,496,237.08 737090 X 0 0 737090
----------------- -------------- ------------- ---------- ----------
50,395,924.58 782090 1400 0 780690
HOUGHTON MIFFLIN CO 441560109 2,776,687.50 59000 X 0 0 59000
HSB GROUP INC 40428N109 49,425.00 1200 X 0 0 1200
415,499.51 10088 X 0 0 10088
----------------- -------------- ------------- ---------- ----------
464,924.51 11288 0 0 11288
HUBBELL INC B 443510201 78,680.25 1734 X 0 0 1734
7,874,604.39 173545 X 0 0 173545
----------------- -------------- ------------- ---------- ----------
7,953,284.64 175279 0 0 175279
I2 TECHNOLOGIES INC 465754109 1,272,800.00 29600 X 0 0 29600
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 119,893,480.26 1728634 1400 0 1727234
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 18
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
IBM CORP 459200101 4,854,630.00 37560 X 200 0 37360
63,999,817.75 495163 X 0 0 495163
----------------- -------------- ------------- ---------- ----------
68,854,447.75 532723 200 0 532523
IDEXX LABORATORIES INC 45168D104 238,784.82 10243 X 0 0 10243
ILLINOIS GAS CO 4520459A7 1,200,000.00 600 X 0 0 600
ILLINOIS TOOL WKS INC 452308109 278,767.50 3410 X 0 0 3410
583,122.75 7133 X 0 0 7133
----------------- -------------- ------------- ---------- ----------
861,890.25 10543 0 0 10543
IMS HEALTH INCORPORATED 449934108 974,406.25 31181 X 0 0 31181
14,445,687.50 462262 X 0 0 462262
----------------- -------------- ------------- ---------- ----------
15,420,093.75 493443 0 0 493443
INFORMATION MAPPING INC 4567099A4 0.00 28667 X 0 0 28667
INTEL CORP 458140100 4,619,044.50 77631 X 0 0 77631
61,906,477.50 1040445 X 0 0 1040445
----------------- -------------- ------------- ---------- ----------
66,525,522.00 1118076 0 0 1118076
INTERNATIONAL PAPER C0 460146103 29,848.50 594 X 0 0 594
1,876,887.75 37351 X 0 0 37351
----------------- -------------- ------------- ---------- ----------
1,906,736.25 37945 0 0 37945
INTERPUBLIC GROUP COS 460690100 1,489,950.03 17200 X 300 0 16900
31,745,463.82 366470 X 0 0 366470
----------------- -------------- ------------- ---------- ----------
33,235,413.85 383670 300 0 383370
INTL FLAVORS & FRAGRANCES 459506101 280,500.00 6375 X 0 0 6375
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 188,523,388.67 2622285 500 0 2621785
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 19
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
INVESTORS FINL SVCS 461915100 2,047,680.00 51192 X 0 0 51192
IPALCO ENTERPRISES INC 462613100 216,875.25 10236 X 0 0 10236
JEFFERSON PILOT CORP 475070108 717,472.51 10840 X 0 0 10840
JML CORP 4662189D8 211,541.00 1000 X 0 0 1000
JOHNSON & JOHNSON 478160104 1,504,692.00 15354 X 200 0 15154
26,269,782.00 268059 X 0 0 268059
----------------- -------------- ------------- ---------- ----------
27,774,474.00 283413 200 0 283213
JOHNSON CTLS INC 478366107 325,214.25 4692 X 0 0 4692
KEYCORP NEW 493267108 217,293.50 6764 X 0 0 6764
KIMBERLY CLARK CORP 494368103 230,850.00 4050 X 0 0 4050
7,668,552.00 134536 X 0 0 134536
----------------- -------------- ------------- ---------- ----------
7,899,402.00 138586 0 0 138586
KINNEY OIL CO 496625997 0.00 14952 X 0 0 14952
LEADVILLE CORP 5217119A1 136,308.75 181745 X 0 0 181745
LILLY ELI & CO 532457108 137,520.00 1920 X 0 0 1920
9,939,258.00 138768 X 0 0 138768
----------------- -------------- ------------- ---------- ----------
10,076,778.00 140688 0 0 140688
LINCOLN NATL CORP IND 534187109 418,500.00 8000 X 0 0 8000
LINEAR TECHNOLOGY CORP 535678106 1,713,059.25 25473 X 0 0 25473
36,510,092.25 542901 X 0 0 542901
----------------- -------------- ------------- ---------- ----------
38,223,151.50 568374 0 0 568374
LUCENT TECHNOLOGIES INC 549463107 4,725,234.38 70068 X 1400 0 68668
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 92,989,925.14 1490550 1600 0 1488950
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 20
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
34,455,437.32 510924 X 0 0 510924
----------------- -------------- ------------- ---------- ----------
39,180,671.70 580992 1400 0 579592
M & T BANK CORP 55261F104 767,250.00 1395 X 0 0 1395
M C I WORLDCOM INC 55268B106 617,494.85 7175 X 500 0 6675
2,086,659.25 24246 X 0 0 24246
----------------- -------------- ------------- ---------- ----------
2,704,154.10 31421 500 0 30921
MACDERMID INC 554273102 697,500.00 15000 X 0 0 15000
MARSH & MCLENNAN COS 571748102 26,566.31 351 X 0 0 351
587,486.38 7762 X 0 0 7762
----------------- -------------- ------------- ---------- ----------
614,052.69 8113 0 0 8113
MASCO CORP 574599106 450,276.75 15594 X 0 0 15594
23,261,700.02 805600 X 0 0 805600
----------------- -------------- ------------- ---------- ----------
23,711,976.77 821194 0 0 821194
MATRITECH INC 576818108 107,321.60 81800 X 0 0 81800
MAXIM INTERGRATED PRODUCTS INC 57772K101 698,250.00 10500 X 0 0 10500
MAY DEPT STORES CO 577778103 30,656.25 750 X 0 0 750
365,463.38 8941 X 0 0 8941
----------------- -------------- ------------- ---------- ----------
396,119.63 9691 0 0 9691
MAYTAG CORP 578592107 279,250.00 4000 X 0 0 4000
MBIA INC 55262C100 330,548.75 5105 X 0 0 5105
26,797,176.00 413856 X 0 0 413856
----------------- -------------- ------------- ---------- ----------
27,127,724.75 418961 0 0 418961
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 91,559,036.86 1912999 500 0 1912499
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 21
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
MBNA CORP 55262L100 339,325.00 11080 X 0 0 11080
104,584.38 3415 X 0 0 3415
----------------- -------------- ------------- ---------- ----------
443,909.38 14495 0 0 14495
MCDONALDS CORP 580135101 474,376.88 11535 X 0 0 11535
3,117,028.25 75794 X 0 0 75794
----------------- -------------- ------------- ---------- ----------
3,591,405.13 87329 0 0 87329
MCGRAW HILL COS INC 580645109 422,870.00 7840 X 0 0 7840
MEDIA ONE GROUP INC 58440J104 23,800.00 320 X 0 0 320
3,476,213.13 46739 X 0 0 46739
----------------- -------------- ------------- ---------- ----------
3,500,013.13 47059 0 0 47059
MEDTRONIC INC 585055106 1,214,304.88 15593 X 500 0 15093
3,537,861.25 45430 X 0 0 45430
----------------- -------------- ------------- ---------- ----------
4,752,166.13 61023 500 0 60523
MELLON BK CORP 585509102 829,350.00 22800 X 0 0 22800
MERCK & CO INC 589331107 84,878,949.39 1152855 X 0 0 1152855
207,700,984.28 2821066 X 0 0 2821066
----------------- -------------- ------------- ---------- ----------
292,579,933.67 3973921 0 0 3973921
META GROUP INC 591002100 104,242.50 6780 X 0 0 6780
1,904,962.52 123900 X 0 0 123900
----------------- -------------- ------------- ---------- ----------
2,009,205.02 130680 0 0 130680
MGI PPTYS 552885105 175,150.00 6200 X 0 0 6200
7,623,573.25 269861 X 0 0 269861
----------------- -------------- ------------- ---------- ----------
7,798,723.25 276061 0 0 276061
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 315,927,575.71 4621208 500 0 4620708
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 22
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
MICROSOFT CORP 594918104 5,515,656.59 61158 X 800 0 60358
72,897,160.03 808289 X 0 0 808289
----------------- -------------- ------------- ---------- ----------
78,412,816.62 869447 800 0 868647
MIDAMERICAN ENERGY HOLDINGS 59562V107 238,912.50 6900 X 0 0 6900
COMPANY
MILLIPORE CORP 601073109 9,170,410.57 226081 X 0 0 226081
MINNESOTA MNG & MFG CO 604059105 372,005.57 4279 X 0 0 4279
24,791,271.45 285162 X 0 0 285162
----------------- -------------- ------------- ---------- ----------
25,163,277.02 289441 0 0 289441
MOBIL CORP 607059102 1,592,640.00 16128 X 0 0 16128
18,224,707.50 184554 X 0 0 184554
----------------- -------------- ------------- ---------- ----------
19,817,347.50 200682 0 0 200682
MONSANTO CO 611662107 4,236,352.52 107080 X 0 0 107080
MORGAN J P & CO INC 616880100 168,600.00 1200 X 0 0 1200
4,737,238.50 33717 X 0 0 33717
----------------- -------------- ------------- ---------- ----------
4,905,838.50 34917 0 0 34917
MORGAN STANLEY DEAN WITTER 617446448 224,133.00 2184 X 0 0 2184
MOTOROLA INC 620076109 379,000.00 4000 X 0 0 4000
9,713,296.25 102515 X 0 0 102515
----------------- -------------- ------------- ---------- ----------
10,092,296.25 106515 0 0 106515
MYLAN LABS INC 628530107 628,023.50 23699 X 0 0 23699
NALCO CHEM CO 629853102 425,375.00 8200 X 0 0 8200
NATIONAL CITY CORP 635405103 19,650.00 300 X 0 0 300
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 153,334,432.98 1875446 800 0 1874646
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 23
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
445,138.00 6796 X 0 0 6796
----------------- -------------- ------------- ---------- ----------
464,788.00 7096 0 0 7096
NETWORK APPLIANCE INC 64120L104 514,050.00 9200 X 0 0 9200
NEW ENGLAND BUSINESS SVC 643872104 1,306,352.13 42311 X 0 0 42311
NEWELL RUBBERMAID INC. 651229106 213,325.00 4600 X 0 0 4600
131,565.89 2837 X 0 0 2837
----------------- -------------- ------------- ---------- ----------
344,890.89 7437 0 0 7437
NORDSTROM INC 655664100 1,096,924.00 32744 X 0 0 32744
NORFOLK SOUTHERN CORP 655844108 16,267.50 540 X 0 0 540
312,546.88 10375 X 0 0 10375
----------------- -------------- ------------- ---------- ----------
328,814.38 10915 0 0 10915
NORTHERN STS PWR MINN 665772109 203,416.88 8410 X 0 0 8410
NORTHERN TR CORP 665859104 134,151.00 1383 X 0 0 1383
2,745,100.00 28300 X 0 0 28300
----------------- -------------- ------------- ---------- ----------
2,879,251.00 29683 0 0 29683
NOVELL INC 670006105 238,500.00 9000 X 0 0 9000
NOVEN PHARMACEUTICALS 670009109 479,375.94 79275 X 0 0 79275
O REILLY AUTOMOTIVE INC 686091109 339,275.63 6735 X 1000 0 5735
1,382,290.00 27440 X 0 0 27440
----------------- -------------- ------------- ---------- ----------
1,721,565.63 34175 1000 0 33175
OBJECT DESIGN INC 674416102 27,125.00 7000 X 0 0 7000
551,800.00 142400 X 0 0 142400
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 10,137,203.85 419346 1000 0 418346
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 24
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
578,925.00 149400 0 0 149400
OCEAN NATL CORP 674856109 315,210.00 3318 X 0 0 3318
ONE VALLEY BANCORP INC 682419106 857,175.00 22858 X 0 0 22858
OVERSEAS PARTNERS LTD 690350921 5,155,701.76 259864 X 0 0 259864
PANERA BREAD CO 69840W108 9,562.50 1500 X 0 0 1500
130,241.25 20430 X 0 0 20430
----------------- -------------- ------------- ---------- ----------
139,803.75 21930 0 0 21930
PARAMETRIC TECHNOLOGY CRP 699173100 194,250.00 14000 X 0 0 14000
2,128,425.00 153400 X 0 0 153400
----------------- -------------- ------------- ---------- ----------
2,322,675.00 167400 0 0 167400
PAYCHEX INC 704326107 2,315,017.56 72628 X 2000 0 70628
49,150,517.24 1541977 X 0 0 1541977
----------------- -------------- ------------- ---------- ----------
51,465,534.80 1614605 2000 0 1612605
PE CORP - PE BIOSYSTEMS GROUP 69332S102 22,950.00 200 X 0 0 200
459,000.00 4000 X 0 0 4000
----------------- -------------- ------------- ---------- ----------
481,950.00 4200 0 0 4200
PENNEY J C CO INC 708160106 318,764.27 6564 X 0 0 6564
PEOPLES HERITAGE FINL GRP 711147108 261,110.56 13880 X 0 0 13880
PEPSICO INC 713448108 617,065.63 15950 X 0 0 15950
3,524,895.58 91112 X 0 0 91112
----------------- -------------- ------------- ---------- ----------
4,141,961.21 107062 0 0 107062
PERITUS SOFTWARE SVCS INC 714006103 340.00 2000 X 0 0 2000
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 65,460,226.35 2223681 2000 0 2221681
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 25
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
1,615.00 9500 X 0 0 9500
----------------- -------------- ------------- ---------- ----------
1,955.00 11500 0 0 11500
PFIZER INC 717081103 5,112,318.00 46902 X 500 0 46402
46,104,711.00 422979 X 0 0 422979
----------------- -------------- ------------- ---------- ----------
51,217,029.00 469881 500 0 469381
PHARMACIA & UPJOHN INC 716941109 380,643.75 6700 X 0 0 6700
PHILIP MORRIS COS INC 718154107 24,112.50 600 X 0 0 600
1,748,156.25 43500 X 0 0 43500
----------------- -------------- ------------- ---------- ----------
1,772,268.75 44100 0 0 44100
PHILLIPS PETE CO 718507106 462,975.63 9202 X 0 0 9202
PHOTOSCAPE ASSOCIATES 7193469A8 0.00 10000 X 0 0 10000
PIONEER HI BRED INTL INC 723686101 1,012,375.00 26000 X 0 0 26000
PITNEY BOWES INC 724479100 192,750.00 3000 X 0 0 3000
6,151,038.00 95736 X 0 0 95736
----------------- -------------- ------------- ---------- ----------
6,343,788.00 98736 0 0 98736
PMC COML TR 693434102 28,250.00 2000 X 0 0 2000
1,087,625.00 77000 X 0 0 77000
----------------- -------------- ------------- ---------- ----------
1,115,875.00 79000 0 0 79000
PNC BK CORP 693475105 72,031.25 1250 X 0 0 1250
1,318,575.25 22882 X 0 0 22882
----------------- -------------- ------------- ---------- ----------
1,390,606.50 24132 0 0 24132
POINT THERAPEUTICS 9899469P5 125,000.00 12500 X 0 0 12500
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 63,822,176.63 789751 500 0 789251
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 26
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
POLARIS VENTURE PARTNERS 731111910 170,641.00 170641 X 0 0 170641
POLICY MGMT SYS CORP 731108106 1,025,730.00 34191 X 0 0 34191
POLYMEDICA CORPORATION 731738100 230,000.00 23000 X 0 0 23000
POTOMAC ELEC PWR CO 737679100 612,300.00 20800 X 0 0 20800
PPG INDS INC 693506107 248,062.50 4200 X 0 0 4200
PRIAM CORP 741400105 0.00 26550 X 0 0 26550
PROCTER & GAMBLE CO 742718109 8,199,308.25 91869 X 500 0 91369
96,231,313.50 1078222 X 0 0 1078222
----------------- -------------- ------------- ---------- ----------
104,430,621.75 1170091 500 0 1169591
PROGRESSIVE CORP OHIO 743315103 6,295,610.00 43418 X 0 0 43418
PROVIDIAN FINL CORP 74406A102 2,358,852.00 25296 X 0 0 25296
PUMA TECHNOLOGY INC 745887109 153,300.00 29200 X 0 0 29200
8,368,662.75 1594031 X 0 0 1594031
----------------- -------------- ------------- ---------- ----------
8,521,962.75 1623231 0 0 1623231
QUESTECH CORPORATION 4580999F7 164,250.00 36500 X 0 0 36500
QUINTILES TRANSNATIONAL 748767100 1,008,000.00 24000 X 0 0 24000
QWEST COMMUNICATIONS INTL INC 749121109 387,023.77 11706 X 1500 0 10206
8,477,923.25 256425 X 0 0 256425
----------------- -------------- ------------- ---------- ----------
8,864,947.02 268131 1500 0 266631
R & B FALCON CORP 74912E101 174,375.00 18600 X 0 0 18600
521,606.25 55638 X 0 0 55638
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 134,626,958.27 3544287 2000 0 3542287
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 27
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
695,981.25 74238 0 0 74238
RAPID COMMUNICATION L P 753388990 50,000.00 50000 X 0 0 50000
RAVINE BEECH CO INC 753865997 3,918,176.37 12887 X 0 0 12887
RAYTHEON CO B 755111408 347,706.00 4932 X 0 0 4932
12,669,555.00 179710 X 0 0 179710
----------------- -------------- ------------- ---------- ----------
13,017,261.00 184642 0 0 184642
REED & BARTON CORP 758140909 16,195,321.08 9402 X 0 0 9402
993,905.58 577 X 0 0 577
----------------- -------------- ------------- ---------- ----------
17,189,226.66 9979 0 0 9979
RELIANT ENERGY INC 75952J108 37,293.75 1350 X 0 0 1350
221,884.00 8032 X 0 0 8032
----------------- -------------- ------------- ---------- ----------
259,177.75 9382 0 0 9382
RELIASTAR FINL CORP 75952U103 61,250.00 1400 X 0 0 1400
4,628,750.00 105800 X 0 0 105800
----------------- -------------- ------------- ---------- ----------
4,690,000.00 107200 0 0 107200
ROCHDALE CORP 7713159A8 240,125.00 21250 X 0 0 21250
SAFE ROOF SYSTEMS INC 793743A96 210,000.00 8400 X 0 0 8400
SAFECO CORP 786429100 233,862.50 5300 X 0 0 5300
SALEM OIL & GREASE 794438903 455,566.20 740 X 0 0 740
SAPIENT CORP 803062108 31,143.75 550 X 0 0 550
328,425.00 5800 X 0 0 5800
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 40,622,964.23 416130 0 0 416130
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 28
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
359,568.75 6350 0 0 6350
SARA LEE CORP 803111103 104,362.50 4600 X 0 0 4600
2,348,836.88 103530 X 0 0 103530
----------------- -------------- ------------- ---------- ----------
2,453,199.38 108130 0 0 108130
SBC COMMUNICATIONS INC 78387G103 2,161,370.00 37265 X 0 0 37265
4,470,118.00 77071 X 0 0 77071
----------------- -------------- ------------- ---------- ----------
6,631,488.00 114336 0 0 114336
SCHERING PLOUGH CORP 806605101 1,228,500.00 23400 X 1000 0 22400
16,437,015.00 313086 X 0 0 313086
----------------- -------------- ------------- ---------- ----------
17,665,515.00 336486 1000 0 335486
SCHLUMBERGER LTD 806857108 505,678.79 7940 X 1000 0 6940
8,570,809.07 134576 X 0 0 134576
----------------- -------------- ------------- ---------- ----------
9,076,487.86 142516 1000 0 141516
SEALED AIR CORP NEW 81211K100 506,025.00 7800 X 300 0 7500
16,935,359.25 261046 X 0 0 261046
----------------- -------------- ------------- ---------- ----------
17,441,384.25 268846 300 0 268546
SEARS ROEBUCK & CO 812387108 238,765.88 5358 X 0 0 5358
SHERWIN WILLIAMS CO 824348106 831,889.50 29978 X 0 0 29978
16,288,251.00 586964 X 0 0 586964
----------------- -------------- ------------- ---------- ----------
17,120,140.50 616942 0 0 616942
SKLAR CORP 8306299A1 0.00 10000 X 0 0 10000
SOLUTIA INC 834376105 268,111.25 12580 X 0 0 12580
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 70,895,092.12 1615194 2300 0 1612894
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 29
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
SONAMED CORP 8354099C9 1,972,000.00 493000 X 0 0 493000
SONAT INC 835415100 1,927,875.00 58200 X 0 0 58200
SPECIALITY RETAIL GROUP INC 8475129A0 50,000.00 10000 X 0 0 10000
SPRINT CORP FON GROUP 852061100 99,199,782.00 1871694 X 0 0 1871694
11,998,140.00 226380 X 0 0 226380
----------------- -------------- ------------- ---------- ----------
111,197,922.00 2098074 0 0 2098074
SPRINT CORP PCS SER 1 852061506 26,761,386.00 469498 X 0 0 469498
3,132,150.00 54950 X 0 0 54950
----------------- -------------- ------------- ---------- ----------
29,893,536.00 524448 0 0 524448
ST JOE CORP 790148100 214,650.00 7950 X 0 0 7950
ST PAUL COS INC 792860108 830,051.75 26092 X 0 0 26092
STAPLES INC 855030102 1,618,314.46 52310 X 2000 0 50310
16,464,516.94 532195 X 0 0 532195
----------------- -------------- ------------- ---------- ----------
18,082,831.40 584505 2000 0 582505
STATE STREET CORP 857477103 2,004,434.28 23478 X 500 0 22978
46,564,037.25 545406 X 0 0 545406
----------------- -------------- ------------- ---------- ----------
48,568,471.53 568884 500 0 568384
STRYKER CORP 863667101 541,125.00 9000 X 0 0 9000
523,087.50 8700 X 0 0 8700
----------------- -------------- ------------- ---------- ----------
1,064,212.50 17700 0 0 17700
SUMMIT BANCORP 866005101 135,890.66 3250 X 0 0 3250
6,518,568.76 155900 X 0 0 155900
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 220,456,009.60 4548003 2500 0 4545503
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 30
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
6,654,459.42 159150 0 0 159150
SUN MICROSYSTEMS INC 866810104 537,225.00 7800 X 0 0 7800
SUNTRUST BKS INC 867914103 628,131.63 9046 X 0 0 9046
20,938,808.74 301549 X 0 0 301549
----------------- -------------- ------------- ---------- ----------
21,566,940.37 310595 0 0 310595
SYSCO CORP 871829107 536,625.00 18000 X 0 0 18000
3,136,632.76 105212 X 0 0 105212
----------------- -------------- ------------- ---------- ----------
3,673,257.76 123212 0 0 123212
SYSTEMSOFT CORP 871926101 1,542.20 14020 X 0 0 14020
TECO ENERGY INC 872375100 21,066.50 926 X 0 0 926
1,436,480.50 63142 X 0 0 63142
----------------- -------------- ------------- ---------- ----------
1,457,547.00 64068 0 0 64068
TEKTRONIX INC 879131100 15,093.75 500 X 0 0 500
3,805,738.22 126070 X 0 0 126070
----------------- -------------- ------------- ---------- ----------
3,820,831.97 126570 0 0 126570
TELEFONICA DE ESPANA S A ADR 879382208 300,135.00 2040 X 0 0 2040
TEMPLE INLAND INC 879868107 506,315.25 7378 X 0 0 7378
TERADYNE INC 880770102 2,262,708.00 31536 X 0 0 31536
TEXACO INC 881694103 171,219.38 2745 X 0 0 2745
6,935,226.76 111186 X 0 0 111186
----------------- -------------- ------------- ---------- ----------
7,106,446.14 113931 0 0 113931
TEXAS INSTRS INC 882508104 1,281,600.00 8900 X 0 0 8900
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 42,514,548.69 810050 0 0 810050
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 31
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
5,854,320.00 40655 X 0 0 40655
----------------- -------------- ------------- ---------- ----------
7,135,920.00 49555 0 0 49555
THERMO ELECTRON CORP 883556102 151,973.44 7575 X 0 0 7575
485,452.31 24197 X 0 0 24197
----------------- -------------- ------------- ---------- ----------
637,425.75 31772 0 0 31772
THOMAS & BETTS CORP 884315102 283,500.00 6000 X 0 0 6000
TIME WARNER INC 887315109 1,033,816.88 14235 X 1300 0 12935
8,462,773.38 116527 X 0 0 116527
----------------- -------------- ------------- ---------- ----------
9,496,590.26 130762 1300 0 129462
TIMES MIRROR CO NEW A 887364107 206,486.25 3485 X 0 0 3485
930,343.50 15702 X 0 0 15702
----------------- -------------- ------------- ---------- ----------
1,136,829.75 19187 0 0 19187
TRANSFUSION TECHNOLOGIES 893650994 151,200.00 16800 X 0 0 16800
TRIBUNE CO 896047107 130,687.50 1500 X 500 0 1000
89,430,676.00 1026464 X 0 0 1026464
----------------- -------------- ------------- ---------- ----------
89,561,363.50 1027964 500 0 1027464
TRUSTCO BANK N Y 898349105 204,465.01 7608 X 0 0 7608
TRW INC 872649108 1,029,619.63 18763 X 0 0 18763
4,413,596.26 80430 X 0 0 80430
----------------- -------------- ------------- ---------- ----------
5,443,215.89 99193 0 0 99193
TYCO INTL LTD NEW 902124106 245,971.00 2596 X 0 0 2596
106,432,011.75 1123293 X 0 0 1123293
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 219,446,892.91 2505830 1800 0 2504030
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 32
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
106,677,982.75 1125889 0 0 1125889
U S WEST INC NEW 91273H101 7,226.25 123 X 0 0 123
457,368.75 7785 X 0 0 7785
----------------- -------------- ------------- ---------- ----------
464,595.00 7908 0 0 7908
UNILEVER N V NY SHARES NEW 904784709 69.75 1 X 0 0 1
373,581.00 5356 X 0 0 5356
----------------- -------------- ------------- ---------- ----------
373,650.75 5357 0 0 5357
UNION PAC CORP 907818108 46,650.00 800 X 0 0 800
1,439,619.02 24688 X 0 0 24688
----------------- -------------- ------------- ---------- ----------
1,486,269.02 25488 0 0 25488
UNIPHASE CORPORATION 909149106 996,000.00 6000 X 0 0 6000
UNITED PARCEL SVC AMER 911308104 27,260.00 580 X 0 0 580
45,946,683.00 977589 X 0 0 977589
----------------- -------------- ------------- ---------- ----------
45,973,943.00 978169 0 0 978169
UNITED TECHNOLOGIES CORP 913017109 2,690,352.00 37366 X 1000 0 36366
34,796,448.00 483284 X 0 0 483284
----------------- -------------- ------------- ---------- ----------
37,486,800.00 520650 1000 0 519650
UNOCAL CORP 915289102 407,345.00 10280 X 0 0 10280
UNUM CORP 903192102 225,377.44 4116 X 0 0 4116
US BANCORP DEL 902973106 403,904.25 12102 X 0 0 12102
6,153,215.26 184366 X 0 0 184366
----------------- -------------- ------------- ---------- ----------
6,557,119.51 196468 0 0 196468
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 93,971,099.72 1754436 1000 0 1753436
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 33
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
UST INC 902911106 948,259.38 32350 X 0 0 32350
USX-MARATHON GROUP 902905827 1,118,717.25 34356 X 0 0 34356
VALSPAR CORP 920355104 373,236.00 9822 X 0 0 9822
VARIAN INC 922206107 535,410.00 39660 X 0 0 39660
VARIAN MEDICAL SYSTEMS INC 92220P105 1,396,577.50 55310 X 0 0 55310
VARIAN SEMICONDUCTOR EQUIPMENT 922207105 749,020.00 44060 X 0 0 44060
ASSOC INC
VERITAS SOFTWARE CORP 923436109 949,370.00 10000 X 0 0 10000
VERTEX PHARMACEUTICALS 92532F100 82,145.63 3405 X 0 0 3405
6,499,226.78 269398 X 0 0 269398
----------------- -------------- ------------- ---------- ----------
6,581,372.41 272803 0 0 272803
VICOR CORP 925815102 6,062,024.44 286120 X 0 0 286120
VULCAN POWER CO CL A COMMON 929187995 0.00 206791 X 0 0 206791
WACHOVIA CORP NEW 929771103 4,498,020.63 52570 X 0 0 52570
WAL MART STORES INC 931142103 617,600.00 12800 X 0 0 12800
4,174,204.00 86512 X 0 0 86512
----------------- -------------- ------------- ---------- ----------
4,791,804.00 99312 0 0 99312
WALGREEN CO 931422109 195,050.00 6640 X 0 0 6640
2,911,062.50 99100 X 0 0 99100
----------------- -------------- ------------- ---------- ----------
3,106,112.50 105740 0 0 105740
WARNER LAMBERT CO 934488107 186,637.50 2700 X 0 0 2700
4,546,143.88 65767 X 0 0 65767
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 35,842,705.49 1317361 0 0 1317361
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 34
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
----------------- -------------- ------------- ---------- ----------
4,732,781.38 68467 0 0 68467
WASHINGTON MUTUAL INC 939322103 184,213.78 5180 X 0 0 5180
1,417,699.08 39865 X 0 0 39865
----------------- -------------- ------------- ---------- ----------
1,601,912.86 45045 0 0 45045
WASHINGTON POST CO CL B 939640108 15,604,429.50 29018 X 0 0 29018
WATSON PHARMACEUTICALS INC 942683103 234,918.75 6700 X 0 0 6700
WELLS FARGO & CO 949746101 316,350.00 7400 X 0 0 7400
284,672.25 6659 X 0 0 6659
----------------- -------------- ------------- ---------- ----------
601,022.25 14059 0 0 14059
WEST PHARMACEUTICAL SERVICES 955306105 392,500.00 10000 X 0 0 10000
INC
WEYERHAEUSER CO 962166104 51,562.50 750 X 0 0 750
1,870,000.00 27200 X 0 0 27200
----------------- -------------- ------------- ---------- ----------
1,921,562.50 27950 0 0 27950
WHOLE FOODS MKT INC 966837106 26,434.10 550 X 0 0 550
392,185.92 8160 X 0 0 8160
----------------- -------------- ------------- ---------- ----------
418,620.02 8710 0 0 8710
WILEY JOHN & SONS INC 968223305 596,000.00 32000 X 0 0 32000
WILEY JOHN & SONS INC A 968223206 846,000.00 48000 X 0 0 48000
WILLIAMS COS INC 969457100 42,562.50 1000 X 0 0 1000
325,603.13 7650 X 0 0 7650
----------------- -------------- ------------- ---------- ----------
368,165.63 8650 0 0 8650
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 22,585,131.51 230132 0 0 230132
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 35
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON (cont.)
--------------
WILMINGTON TR CORP 971807102 24,441.76 426 X 0 0 426
791,775.00 13800 X 0 0 13800
----------------- -------------- ------------- ---------- ----------
816,216.76 14226 0 0 14226
WISCONSIN ENERGY CORP 976657106 1,830,815.64 73050 X 0 0 73050
WPS RES CORP 92931B106 504,000.00 16800 X 0 0 16800
WYMAN GORDON CO 983085101 592,874.44 30699 X 0 0 30699
XEROX CORP 984121103 581,765.63 9850 X 0 0 9850
10,372,320.02 175616 X 0 0 175616
----------------- -------------- ------------- ---------- ----------
10,954,085.65 185466 0 0 185466
================= ============== ============= ========== ==========
TOTALS FOR COMMON 3,260,544,779.50 59021989 26950 0 58995039
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 36
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED
---------
AIRTOUCH COMM CV $1.740 PFD 00949T209 266,612.50 3080 X 0 0 3080
Ser B
AMERICAN EXPRESS 7% CAPITAL TR 02583Y205 244,375.00 10000 X 0 0 10000
$1.75 PFD
BIZFON INC PFD Ser A 0910999A1 10,000.00 10000 X 0 0 10000
504,000.00 504000 X 0 0 504000
----------------- -------------- ------------- ---------- ----------
514,000.00 514000 0 0 514000
BIZFON INC PFD Ser B 0910999B9 471,768.10 248299 X 0 0 248299
BIZFON INC. PFD Ser C 0910999C7 50,000.00 20000 X 0 0 20000
95,000.00 38000 X 0 0 38000
----------------- -------------- ------------- ---------- ----------
145,000.00 58000 0 0 58000
CABLESOFT CORP CV PFD Ser A 126910991 10,020.00 16700 X 0 0 16700
699,755.40 1166259 X 0 0 1166259
----------------- -------------- ------------- ---------- ----------
709,775.40 1182959 0 0 1182959
CABLESOFT CORP CV PFD Ser B 126910983 209,460.00 41892 X 0 0 41892
CABLESOFT CORP CV PFD Ser D 126910967 184,424.41 322743 X 0 0 322743
CAIRNSTONE INC CV PFD Ser A 1277669D7 0.00 11111 X 0 0 11111
CENDANT CORP INCOME PRIDES 151313301 237,618.75 6900 X 0 0 6900
$3.75 PFD
CIPHERGEN BIOSYSTEMS INC PFD 172922916 120,000.00 60000 X 0 0 60000
Ser D
CORPORATION FOR LASER OPTICS 2200359B7 10,000.00 2500 X 0 0 2500
RESEARCH PFD Ser B
208,000.00 52000 X 0 0 52000
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 3,321,034.16 2513484 0 0 2513484
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 37
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED (cont.)
-----------------
----------------- -------------- ------------- ---------- ----------
218,000.00 54500 0 0 54500
DELPHI INTERNET SVS CV PFD Ser 2471829A8 454,005.00 30267 X 0 0 30267
B
EDUCATION PARTNERS L P CV PFD 2813909A4 241,387.50 15700 X 0 0 15700
Ser C
EMPOWER PFD Ser B 2921999B4 220,500.00 63000 X 0 0 63000
FAXNET CORPORATION PFD Ser D 3121019D2 808,000.00 808 X 0 0 808
FAXNET CV PFD Ser B 3121019A8 10,000.00 10 X 0 0 10
650,000.00 650 X 0 0 650
----------------- -------------- ------------- ---------- ----------
660,000.00 660 0 0 660
GENERAL ORTHOPEDICS CV PFD Ser 371990979 0.00 42500 X 0 0 42500
C
GENERAL ORTHOPEDICS CV PFD Ser 371990953 0.00 42875 X 0 0 42875
E
GENERAL ORTHOPEDICS CV PFD Ser 371990920 0.00 4000 X 0 0 4000
F
0.00 91600 X 0 0 91600
----------------- -------------- ------------- ---------- ----------
0.00 95600 0 0 95600
GENERAL ORTHOPEDICS PFD Ser D 371990961 0.00 118000 X 0 0 118000
GLOBALSTAR TELECOMM LTD $4.000 379364508 17,250.00 300 X 0 0 300
PFD
632,500.00 11000 X 0 0 11000
----------------- -------------- ------------- ---------- ----------
649,750.00 11300 0 0 11300
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 3,033,642.50 420710 0 0 420710
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 38
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED (cont.)
-----------------
IBM CORP DEP SH REP 1/4 $1.875 459200309 26,875.00 1000 X 0 0 1000
PFD Ser A
650,375.00 24200 X 0 0 24200
----------------- -------------- ------------- ---------- ----------
677,250.00 25200 0 0 25200
INTERNET COMMERCE SVCS CO CV 4605679A0 720,000.00 720000 X 0 0 720000
PFD Ser A
MARATHON TECHNOLOGIES CORP CV 565915998 605,000.00 121000 X 0 0 121000
PFD Ser A
MARATHON TECHNOLOGIES CORP CV 565915980 45,000.00 5625 X 0 0 5625
PFD Ser B
935,000.00 116875 X 0 0 116875
----------------- -------------- ------------- ---------- ----------
980,000.00 122500 0 0 122500
MARATHON TECHNOLOGIES CORP CV 5659159A5 542,364.00 45197 X 0 0 45197
PFD Ser D
MEDIA ONE GROUP INC PFD Ser D 58440J203 1,959,547.51 13080 X 0 0 13080
MOTOROLA 6.68% CAPITAL TR PFD 620074203 116,875.00 5000 X 2000 0 3000
313,225.00 13400 X 0 0 13400
----------------- -------------- ------------- ---------- ----------
430,100.00 18400 2000 0 16400
NETWORKS ON-LINE INC CV PFD 641218912 0.00 6376 X 0 0 6376
Ser B
0.00 48624 X 0 0 48624
----------------- -------------- ------------- ---------- ----------
0.00 55000 0 0 55000
NOBLENET INC PFD Ser A 6550989A1 325,000.00 260000 X 0 0 260000
PACIFIC FIBEROPTICS INC PFD 694240995 50,000.00 20000 X 0 0 20000
Ser D
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 6,289,261.51 1400377 2000 0 1398377
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 39
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED (cont.)
-----------------
PACIFIC TELESIS FING II $2.125 694889205 51,000.00 2000 X 0 0 2000
PFD
392,700.00 15400 X 0 0 15400
----------------- -------------- ------------- ---------- ----------
443,700.00 17400 0 0 17400
PRIZMA INC CONV PFD Ser B 7418099B5 102,000.00 34000 X 0 0 34000
QUICKBUY INC CV PFD Ser B 7484499A5 776,925.00 103590 X 0 0 103590
RELIASTAR FING II $2.025 PFD 75952F205 49,625.00 2000 X 0 0 2000
997,462.50 40200 X 0 0 40200
----------------- -------------- ------------- ---------- ----------
1,047,087.50 42200 0 0 42200
ROVING SOFTWARE INC CONV PFD 77938R9A5 30,030.00 27300 X 0 0 27300
Ser A
169,950.00 154500 X 0 0 154500
----------------- -------------- ------------- ---------- ----------
199,980.00 181800 0 0 181800
RSP FINE CHEMICALS INC CV PFD 7496999A4 50,000.00 10000 X 0 0 10000
Ser A
SPECTRA SCIENCE CORP CONV PFD 847619996 104,917.50 46630 X 0 0 46630
Ser A
817,672.50 363410 X 0 0 363410
----------------- -------------- ------------- ---------- ----------
922,590.00 410040 0 0 410040
SURGICAL SEALANTS INC CV PFD 8688889A8 275,025.00 7334 X 0 0 7334
Ser A
SURGICAL SEALANTS INC CV PFD 8688889B6 480,000.00 7680 X 0 0 7680
Ser B
UNIVERSAL LEARNING TECH INC CV 9134569A9 174,948.00 117120 X 0 0 117120
PFD Ser B
----------------- -------------- ------------- ---------- ----------
SUBTOTALS FOR THIS PAGE 4,472,255.50 931164 0 0 931164
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 40
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
HOLDING COMPANY: (2) WELCH AND FORBES (Cont.)
<TABLE>
<CAPTION>
INVEST
MARKET INVEST AUTH VOTING AUTH (SHARES)
NAME OF ISSUER CUSIP VALUE SH/PV SOLE SHR MGR SOLE SHARED NONE
- ------------------------------ ------------ ----------------- ------------ ---- --- ---- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PREFERRED (cont.)
-----------------
UNIVERSAL LEARNING TECH INC CV 9134569C5 94,678.71 24339 X 0 0 24339
PFD Ser C
767,415.31 197279 X 0 0 197279
----------------- -------------- ------------- ---------- ----------
862,094.02 221618 0 0 221618
VIRTUAL INK PFD Ser C 928257A95 79,533.60 24000 X 0 0 24000
813,562.45 245500 X 0 0 245500
----------------- -------------- ------------- ---------- ----------
893,096.05 269500 0 0 269500
================= ============== ============= ========== ==========
TOTALS FOR PREFERRED 18,871,383.74 5756853 2000 0 5754853
================= ============== ============= ========== ==========
GRAND TOTALS 3,279,416,163.24 64778842 28950 0 64749892
</TABLE>
<PAGE>
REPORT RUN: 07/08/1999 at 08:57 AM PAGE 41
BUSINESS DATE: 07/08/1999 R33.002.001
EQUITIES DISCLOSURE (13-F)
As of 06/30/1999
Produced on trust2>WELCHDB
The parameters used in producing report R33.002.001 were:
ASOF## = 06/30/1999
BK_LIST## = ()
DV_SUM# = YES
BK_SUM# = NO
MIN_SHARES# = 10,000
MIN_CORP_SHARES# = 10,000
MIN_MKT_VAL# = 200,000.00
================================= End of Report ===============================
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