UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 6/30/99
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: MURPHY CAPITAL MANAGEMENT, INC.
JOHN J. MURPHY, PRESIDENT
Address: 60 WEST RIDGEWOOD AVENUE, RIDGEWOOD, N.J. 07450
Form 13F File Number: 28-6814
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: JOHN J. MURPHY
Title: PRESIDENT
Phone: 201-445-8366
Signature, Place, and Date of Signing:
/s/ John J. Murphy Ridgewood, N.J. 7/14/99
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 495
Form 13F Information Table Value Total (thousands): $253,108
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
<PAGE>
<TABLE>
<CAPTION>
Form 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ----------- ---------------- --------- -------- ------------------ ---------- -------- ---------------------
VOTING AUTHORITY
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ---------------------
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000)* PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------------ ---------------- --------- -------- ------- --- ---- ---------- -------- ---- ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A D C TELECOMMUNICATIONS COMMON 000886101 141 3100 SH SOLE 1 0 0 3100
ABN AMRO HOLDING N V DEPOSITORY RECEI 000937102 13 608 SH SOLE 1 0 0 608
AFLAC INC COMMON 001055102 7376 154064 SH SOLE 1 0 0 154064
AFN INC COM NEW 001057207 0 545 SH SOLE 1 0 0 545
AGL RES INC COMMON 001204106 24 1300 SH SOLE 1 0 0 1300
AMLI RESIDENTIAL PPTYS T SH BEN INT 001735109 224 10000 SH SOLE 1 0 0 10000
AT&T CORP COMMON 001957109 6496 116392 SH SOLE 1 900 0 115492
AT&T LIB GRP A COM LIB GRP A 001957208 951 25870 SH SOLE 1 0 0 25870
A R T INTERNATIONAL INC COMMON 00207G105 0 81 SH SOLE 1 0 0 81
ABB AB DEPOSITORY RECEI 00256Q103 35 2600 SH SOLE 1 0 0 2600
ABBOTT LABS COMMON 002824100 168 3700 SH SOLE 1 0 0 3700
AERIAL COMMUNICATIONS COMMON 007655103 109 8100 SH SOLE 1 0 0 8100
AFFYMETRIX INC COMMON 00826T108 40 800 SH SOLE 1 0 0 800
AIRTOUCH COMMUNICATNS COMMON 00949T100 364 3379 SH SOLE 1 0 0 3379
ALABAMA POWER PFD $7.600 010388205 5 200 SOLE 1 0 0 200
ALCIDE CORP COM NEW 013742507 4 200 SH SOLE 1 0 0 200
ALCOA INC COMMON 013817101 285 4600 SH SOLE 1 900 0 3700
ALEXANDERS INC COMMON 014752109 7 100 SH SOLE 1 0 0 100
ALLEGHENY ENERGY INC COMMON 017361106 146 4540 SH SOLE 1 0 0 4540
ALLIANT CORP COMMON 018802108 19 672 SH SOLE 1 0 0 672
ALLIED IRISH BKS P L C DEPOSITORY RECEI 019228402 41 1500 SH SOLE 1 0 0 1500
ALLIEDSIGNAL INC COMMON 019512102 85 1350 SH SOLE 1 800 0 550
ALLIED WASTE INDS INC COM PAR$.01NEW 019589308 10 500 SH SOLE 1 0 0 500
ALLSTATE FIN PFD PFD $7.950 020013207 5 200 SOLE 1 0 0 200
ALTEON INC COMMON 02144G107 0 400 SH SOLE 1 0 0 400
AMAZON COM INC COMMON 023135106 13 100 SH SOLE 1 0 0 100
AMEREN CORP COMMON 023608102 8 200 SH SOLE 1 0 0 200
AMERICA ONLINE INC DEL COMMON 02364J104 2831 25735 SH SOLE 1 800 0 24935
AMERICAN BINGO & GAMING COMMON 024596108 1 1000 SH SOLE 1 0 0 1000
AMERICAN EXPRESS CO COMMON 025816109 3949 30345 SH SOLE 1 850 0 29495
AMERICAN EXPRESS CO CALL OPT JAN 7 025816109 1301 10000 SH CALL SOLE 1 0 0 10000
AMERICAN EXPRESS CO PUT OPT JUL 11 025816109 130 1000 SH PUT SOLE 1 0 0 1000
AMERICAN EXPRESS CO CAP QUIPS I 7% 02583Y205 49 2000 SOLE 1 0 0 2000
AMERICAN GREETINGS CORP CL A 026375105 12 400 SH SOLE 1 0 0 400
AMERICAN HOME PRODS CORP COMMON 026609107 2416 42112 SH SOLE 1 0 0 42112
AMERICAN INTL GROUP INC COMMON 026874107 2508 21389 SH SOLE 1 0 0 21389
AMERICAN STANDARD COS COMMON 029712106 43 900 SH SOLE 1 0 0 900
AMERITECH CORP NEW COMMON 030954101 165 2240 SH SOLE 1 0 0 2240
AMGEN INC COMMON 031162100 12 200 SH SOLE 1 0 0 200
AMSOUTH BANCORPORATION COMMON 032165102 262 11316 SH SOLE 1 0 0 11316
ANHEUSER BUSCH COS INC COMMON 035229103 65 920 SH SOLE 1 0 0 920
APARTMENT INVT & MGMT CO CL A 03748R101 13 300 SH SOLE 1 0 0 300
AQUIS COMMUNICATIONS INC COMMON 038399101 11 10000 SH SOLE 1 0 0 10000
ARCHSTONE CMNTYS TR SH BEN INT 039581103 10 435 SH SOLE 1 0 0 435
ASIA PULP & PAPER LTD DEPOSITORY RECEI 04516V100 48 5000 SH SOLE 1 0 0 5000
ASSOCIATED GROUP INC CL A 045651106 998 15325 SH SOLE 1 0 0 15325
ASSOCIATED GROUP INC CL B 045651205 16 240 SH SOLE 1 0 0 240
AT HOME CORP COM SER A 045919107 32 600 SH SOLE 1 0 0 600
AT HOME CORP CALL OPT JAN01 4 0459259A4 401 6000 SH CALL SOLE 1 0 0 6000
ATLANTIC RICHFIELD CO COMMON 048825103 50 600 SH SOLE 1 0 0 600
AULT INC COMMON 051503100 8 1000 SH SOLE 1 0 0 1000
AUTOSPA CORP COMMON 053322103 0 90500 SH SOLE 1 0 0 90500
AVALONBAY CMNTYS INC COMMON 053484101 28 768 SH SOLE 1 0 0 768
AVALONBAY CMNTYS INC PFD SER-F 9% 053484507 4 160 SOLE 1 0 0 160
AXA SA DEPOSITORY RECEI 054536107 25 400 SH SOLE 1 0 0 400
B B & T CORP COMMON 054937107 9 236 SH SOLE 1 0 0 236
BP AMOCO P L C DEPOSITORY RECEI 055622104 381 3507 SH SOLE 1 0 0 3507
BMC SOFTWARE INC COMMON 055921100 19 350 SH SOLE 1 0 0 350
BAKER HUGHES INC COMMON 057224107 8 250 SH SOLE 1 0 0 250
BANK OF AMERICA CORP COMMON 060505104 66 905 SH SOLE 1 0 0 905
BANK NEW YORK INC COMMON 064057102 500 13625 SH SOLE 1 0 0 13625
BANK ONE CORP COMMON 06423A103 30 500 SH SOLE 1 0 0 500
BANKAMERICA CAP I TOPRS 7.75% 066046202 5 200 SOLE 1 0 0 200
BARCLAYS BK PLC DEPOSITORY RECEI 06738C836 5 200 SH SOLE 1 0 0 200
BARCLAYS PLC DEPOSITORY RECEI 06738E204 303 2538 SH SOLE 1 0 0 2538
BARNES & NOBLE INC COMMON 067774109 80 2925 SH SOLE 1 0 0 2925
BARNESANDNOBLE COM INC CL A 067846105 5 300 SH SOLE 1 0 0 300
BAUSCH & LOMB INC COMMON 071707103 8 100 SH SOLE 1 0 0 100
BECTON DICKINSON & CO COMMON 075887109 1109 36980 SH SOLE 1 0 0 36980
BED BATH & BEYOND INC COMMON 075896100 54 1400 SH SOLE 1 0 0 1400
BEDFORD PPTY INVS INC COM PAR $0.02 076446301 5 300 SH SOLE 1 0 0 300
BELL ATLANTIC CORP COMMON 077853109 1713 26200 SH SOLE 1 0 0 26200
BELLSOUTH CORP COMMON 079860102 623 13496 SH SOLE 1 0 0 13496
BESTFOODS COMMON 08658U101 1042 21050 SH SOLE 1 0 0 21050
BETHLEHEM STL CORP PFD CV $2.50 087509402 27 1000 SH SOLE 1 0 0 1000
BIOGEN INC COMMON 090597105 158 2450 SH SOLE 1 0 0 2450
BIOGEN INC CALL OPT JAN 2 090597105 1286 20000 SH CALL SOLE 1 0 0 20000
BLACK & DECKER CORP COMMON 091797100 170 2700 SH SOLE 1 0 0 2700
BOEING CO COMMON 097023105 1236 28096 SH SOLE 1 900 0 27196
BOISE CASCADE CORP COMMON 097383103 9 200 SH SOLE 1 0 0 200
BOMBARDIER INC CL B 097751200 12 800 SH SOLE 1 0 0 800
BOSTON PROPERTIES INC COMMON 101121101 11 300 SH SOLE 1 0 0 300
BOYD GAMING CORP COMMON 103304101 7 1000 SH SOLE 1 0 0 1000
BRIGGS & STRATTON CORP COMMON 109043109 17 300 SH SOLE 1 0 0 300
BRISTOL MYERS SQUIBB CO COMMON 110122108 1371 19470 SH SOLE 1 0 0 19470
BROWNING FERRIS INDS ACES BFI 7.25% 115885600 85 2400 SOLE 1 0 0 2400
BULGARI S P A DEPOSITORY RECEI 12015P102 6 1000 SH SOLE 1 0 0 1000
BURLINGTON NORTHN SANTA COMMON 12189T104 119 3850 SH SOLE 1 0 0 3850
BURLINGTON RES INC COMMON 122014103 113 2622 SH SOLE 1 0 0 2622
BURNHAM PACIFIC PPTYS COMMON 12232C108 6 500 SH SOLE 1 0 0 500
CBL & ASSOC PPTYS INC COMMON 124830100 132 5000 SH SOLE 1 0 0 5000
CBS CORP COMMON 12490K107 510 11700 SH SOLE 1 0 0 11700
CMGI INC COMMON 125750109 1192 10450 SH SOLE 1 0 0 10450
CMS ENERGY CORP COMMON 125896100 84 2000 SH SOLE 1 0 0 2000
CSG SYS INTL INC COMMON 126349109 5 200 SH SOLE 1 0 0 200
CSX CORP COMMON 126408103 64 1400 SH SOLE 1 0 0 1400
CABLE & WIRELESS PUB LTD DEPOSITORY RECEI 126830207 53 1325 SH SOLE 1 0 0 1325
CABLEVISION SYS CORP CL A 12686C109 28 400 SH SOLE 1 0 0 400
CADBURY SCHWEPPES DEL L PFD QIPS8.625% 127207207 121 4750 SOLE 1 0 0 4750
CAMDEN PPTY TR SH BEN INT 133131102 7 250 SH SOLE 1 0 0 250
CAMPBELL SOUP CO COMMON 134429109 195 4200 SH SOLE 1 0 0 4200
CANADIAN PAC LTD NEW COMMON 135923100 33 1400 SH SOLE 1 0 0 1400
CAROLINA PWR & LT CO COMMON 144141108 21 500 SH SOLE 1 0 0 500
CATERPILLAR INC DEL COMMON 149123101 102 1700 SH SOLE 1 900 0 800
CELERITY SYSTEMS INC COMMON 15100R107 4 7110 SH SOLE 1 0 0 7110
CELSION CORPORATION COMMON 15117N107 16 20000 SH SOLE 1 0 0 20000
CHAD THERAPEUTICS INC COMMON 157228107 0 103 SH SOLE 1 0 0 103
CHAMPION INTL CORP COMMON 158525105 12 250 SH SOLE 1 0 0 250
CHANCELLOR MEDIA CORP COMMON 158915108 904 16400 SH SOLE 1 0 0 16400
CHASE CAP V CAP SEC E7.03% 161479209 49 2000 SOLE 1 0 0 2000
CHASE MANHATTAN CORP NEW COMMON 16161A108 1270 14680 SH SOLE 1 0 0 14680
CHASE MANHATTAN CORP NEW PFD 10.96% 16161A835 19 700 SOLE 1 0 0 700
CHATEAU CMNTYS INC COMMON 161726104 14 460 SH SOLE 1 0 0 460
CHEVRON CORPORATION COMMON 166751107 1357 14277 SH SOLE 1 900 0 13377
CHINA TELECOM H K LTD DEPOSITORY RECEI 169428109 319 5600 SH SOLE 1 0 0 5600
CHUBB CORP COMMON 171232101 473 6800 SH SOLE 1 0 0 6800
CILCORP INC COMMON 171794100 13 200 SH SOLE 1 0 0 200
CIRCUIT CITY STORE-GRP CIRCT CITY GRP 172737108 74 800 SH SOLE 1 0 0 800
CISCO SYS INC COMMON 17275R102 10237 158866 SH SOLE 1 1400 0 157466
CISCO SYSTEMS INC CALL OPT JAN 3 17275R102 773 12000 SH CALL SOLE 1 0 0 12000
CISCO SYSTEMS INC PUT OPT JUL 5 17275R102 258 4000 SH PUT SOLE 1 0 0 4000
CITIGROUP INC COMMON 172967101 5934 124928 SH SOLE 1 900 0 124028
CLEAR CHANNEL COMMUNICAT COMMON 184502102 362 5250 SH SOLE 1 0 0 5250
CLOROX CO DEL COMMON 189054109 95 890 SH SOLE 1 0 0 890
COASTAL CORP COMMON 190441105 36 900 SH SOLE 1 0 0 900
COCA COLA CO COMMON 191216100 3911 63075 SH SOLE 1 750 0 62325
COEUR D ALENE MINES CORP SDCV 6.000 06/1 192108AB4 21 35000 PRN SOLE 1 0 0 35000
COLGATE PALMOLIVE CO COMMON 194162103 1261 12805 SH SOLE 1 0 0 12805
COLGATE PALMOLIVE CO CALL OPT JAN00 6 194162103 542 11000 SH CALLV SOLE 1 0 0 11000
COMERICA INC COMMON 200340107 62 1050 SH SOLE 1 0 0 1050
COMPAQ COMPUTER CORP COMMON 204493100 15 625 SH SOLE 1 0 0 625
COMPUTER SCIENCES CORP COMMON 205363104 80 1150 SH SOLE 1 0 0 1150
COMSAT CORP COM SER 1 20564D107 23 700 SH SOLE 1 0 0 700
CONAGRA INC COMMON 205887102 5 200 SH SOLE 1 0 0 200
CONCENTRIC NETWORK CORP COMMON 20589R107 107 2700 SH SOLE 1 0 0 2700
CONECTIV INC COMMON 206829103 9 375 SH SOLE 1 0 0 375
CONNECTICUT LT & PWR CO PFD 7.23% 207597642 5 100 SOLE 1 0 0 100
CONOCO INC CL A 208251306 14 500 SH SOLE 1 0 0 500
CONSOLIDATED EDISON CO N PFD $5 209111707 31 400 SOLE 1 0 0 400
CONSOLIDATED EDISON CO N QUICS7.75%2031 209111848 5 200 SOLE 1 0 0 200
CONSOLIDATED EDISON INC COMMON 209115104 60 1315 SH SOLE 1 0 0 1315
CONSOLIDATED NAT GAS COMMON 209615103 91 1500 SH SOLE 1 0 0 1500
COOPER CAMERON CORP COMMON 216640102 5 125 SH SOLE 1 0 0 125
CORN PRODS INTL INC COMMON 219023108 11 350 SH SOLE 1 0 0 350
CORNING INC COMMON 219350105 1453 20725 SH SOLE 1 0 0 20725
AMERICA ONLINE INC CALL OPT JAN 5 22799W9A8 68 600 SH CALL SOLE 1 0 0 600
DPL INC COMMON 233293109 8 450 SH SOLE 1 0 0 450
DAYTON HUDSON CORP COMMON 239753106 171 2625 SH SOLE 1 0 0 2625
DELL COMPUTER CORP COMMON 247025109 60 1625 SH SOLE 1 0 0 1625
DELPHI AUTOMOTIVE SYS COMMON 247126105 108 5832 SH SOLE 1 0 0 5832
DEUTSCHE LUFTHANSA A G DEPOSITORY RECEI 251561205 18 1000 SH SOLE 1 0 0 1000
DEUTSCHE TELEKOM AG DEPOSITORY RECEI 251566105 13 300 SH SOLE 1 0 0 300
DIAGEO P L C DEPOSITORY RECEI 25243Q205 55 1274 SH SOLE 1 0 0 1274
DIAMOND OFFSHORE DRILLIN COMMON 25271C102 14 500 SH SOLE 1 0 0 500
DISNEY WALT COMPANY COMMON 254687106 3679 119405 SH SOLE 1 800 0 118605
DOMINION RES INC VA COMMON 257470104 283 6542 SH SOLE 1 0 0 6542
DONALDSON LUFKIN & JENRE COM DLJ 257661108 54 900 SH SOLE 1 0 0 900
DOUBLECLICK INC COMMON 258609304 459 5000 SH SOLE 1 0 0 5000
DOW CHEMICAL COMPANY COMMON 260543103 114 900 SH SOLE 1 0 0 900
DU PONT E I DE NEMOURS & COMMON 263534109 1482 21700 SH SOLE 1 800 0 20900
DUKE ENERGY CORP COMMON 264399106 150 2750 SH SOLE 1 0 0 2750
DUKE WEEKS REALTY CORP COM NEW 264411505 16 700 SH SOLE 1 0 0 700
E M C CORP MASS COMMON 268648102 305 5550 SH SOLE 1 0 0 5550
ERD WASTE CORP COMMON 268928108 0 1000 SH SOLE 1 0 0 1000
EARTHLINK NETWORK INC COMMON 270322100 6 100 SH SOLE 1 0 0 100
AMERICA ONLINE INC CALL OPT JAN01 8 27499W9A0 662 5000 SH CALL SOLE 1 0 0 5000
EASTMAN KODAK CO COMMON 277461109 207 3050 SH SOLE 1 900 0 2150
ECHOSTAR COMMUNICATNS CL A 278762109 23 150 SH SOLE 1 0 0 150
ECOM ECOM COM INC COMMON 27889U102 1 300 SH SOLE 1 0 0 300
EDWARDS AG INC COMMON 281760108 55 1700 SH SOLE 1 0 0 1700
EL PASO ENERGY CORP DEL COMMON 283905107 35 1000 SH SOLE 1 0 0 1000
ELAN PLC DEPOSITORY RECEI 284131208 25 900 SH SOLE 1 0 0 900
ELECTRONIC DATA SYSTEM COMMON 285661104 11 200 SH SOLE 1 0 0 200
ELF AQUITAINE DEPOSITORY RECEI 286269105 96 1300 SH SOLE 1 0 0 1300
EMERSON ELEC CO COMMON 291011104 644 10240 SH SOLE 1 0 0 10240
ENRON CORP COMMON 293561106 41 500 SH SOLE 1 0 0 500
ENTERGY CORP NEW COMMON 29364G103 9 300 SH SOLE 1 0 0 300
ENTERPRISE OIL PLC DEPOSITORY RECEI 293779203 26 1000 SH SOLE 1 0 0 1000
ENTREMED INC COMMON 29382F103 195 8650 SH SOLE 1 0 0 8650
EQUANT N V DEPOSITORY RECEI 294409107 43 450 SH SOLE 1 0 0 450
ERICSSON L M TEL CO DEPOSITORY RECEI 294821400 642 19500 SH SOLE 1 0 0 19500
EXXON CORP COMMON 302290101 4646 60237 SH SOLE 1 900 0 59337
F & M NATL CORP COMMON 302374103 17 500 SH SOLE 1 0 0 500
R & B FALCON CORP COMMON 305914103 2 200 SH SOLE 1 0 0 200
FDX CORP COMMON 31304N107 1421 26200 SH SOLE 1 0 0 26200
FDX CORP CALL OPT JAN 2 31304N107 326 6000 SH CALL SOLE 1 0 0 6000
FEDERAL NATL MTG ASSN COMMON 313586109 188 2750 SH SOLE 1 0 0 2750
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 22 950 SH SOLE 1 0 0 950
FIRST EXECUTIVE CORP DEL COMMON 320135106 0 231 SH SOLE 1 0 0 231
FIRST PAC LTD DEPOSITORY RECEI 335889200 2 450 SH SOLE 1 0 0 450
FIRST TENN NATL CORP COMMON 337162101 4 100 SH SOLE 1 0 0 100
FIRST UN CORP COMMON 337358105 156 3310 SH SOLE 1 0 0 3310
FORD MOTOR CO DEL COMMON 345370100 31 550 SH SOLE 1 0 0 550
FORTIS AMEV N V DEPOSITORY RECEI 34956J101 47 1518 SH SOLE 1 0 0 1518
FORTUNE BRANDS INC COMMON 349631101 110 2648 SH SOLE 1 0 0 2648
FOX ENTMT GROUP INC CL A 35138T107 30 1100 SH SOLE 1 0 0 1100
FRIGITEMP CORP COMMON 358631109 0 525 SH SOLE 1 0 0 525
GTE CALIF INC PFD 45 4.5%RED 362311201 2 125 SOLE 1 0 0 125
GTE CORP COMMON 362320103 1604 21250 SH SOLE 1 0 0 21250
GABELLI EQUITY TR INC PFD 7.25% 362397309 25 1000 SOLE 1 0 0 1000
GALLAHER GROUP PLC DEPOSITORY RECEI 363595109 2 100 SH SOLE 1 0 0 100
GATEWAY INC COMMON 367626108 6 100 SH SOLE 1 0 0 100
GENENTECH INC COM SPL 368710307 25 300 SH SOLE 1 0 0 300
GENERAL ELEC CO COMMON 369604103 17930 158669 SH SOLE 1 900 0 157769
GENERAL ELECTRIC CO PUT OPT JUL 9 369604103 339 3000 SH PUT SOLE 1 0 0 3000
GENERAL ELECTRIC CO CALL OPT JAN00 7 3696069A8 1138 10000 SH CALL SOLE 1 0 0 10000
GENERAL MILLS INC COMMON 370334104 96 1200 SH SOLE 1 0 0 1200
GENERAL MTRS CORP COMMON 370442105 618 9359 SH SOLE 1 900 0 8459
GENERAL MTRS CL H CL H NEW 370442832 423 7515 SH SOLE 1 0 0 7515
GEORGIA PAC CORP COM GA PAC GRP 373298108 166 3500 SH SOLE 1 0 0 3500
GILLETTE CO COMMON 375766102 2144 52295 SH SOLE 1 0 0 52295
GLAXO WELLCOME PLC DEPOSITORY RECEI 37733W105 91 1600 SH SOLE 1 0 0 1600
GLOBAL MARINE INC COMMON 379352404 4 270 SH SOLE 1 0 0 270
GLOBAL TELESYSTEMS GROUP COMMON 37936U104 41 500 SH SOLE 1 0 0 500
GOLDMAN SACHS GROUP INC COMMON 38141G104 134 1850 SH SOLE 1 0 0 1850
GOODYEAR TIRE & RUBR CO COMMON 382550101 126 2150 SH SOLE 1 850 0 1300
HALLIBURTON CO COMMON 406216101 337 7450 SH SOLE 1 0 0 7450
HARLEY DAVIDSON INC COMMON 412822108 44 800 SH SOLE 1 0 0 800
HARTFORD FINL SVCS GROUP COMMON 416515104 58 1000 SH SOLE 1 0 0 1000
HAWAIIAN ELEC INDUSTRIES COMMON 419870100 28 800 SH SOLE 1 0 0 800
HERSHEY FOODS CORP COMMON 427866108 36 600 SH SOLE 1 0 0 600
HEWLETT PACKARD CO COMMON 428236103 560 5576 SH SOLE 1 750 0 4826
HOME DEPOT INC COMMON 437076102 1165 18075 SH SOLE 1 0 0 18075
HONEYWELL INC COMMON 438506107 353 3050 SH SOLE 1 0 0 3050
HOUSTON LTG & PWR CO PFD $4 442164208 2 24 SOLE 1 0 0 24
HOWARD SAVINGS COMMON 442765103 1 4000 SH SOLE 1 0 0 4000
IDEC PHARMACEUTICALS COMMON 449370105 15 200 SH SOLE 1 0 0 200
IRT PPTY CO COMMON 450058102 9 900 SH SOLE 1 0 0 900
ITT INDS INC IND COMMON 450911102 6 158 SH SOLE 1 0 0 158
ILLINOIS TOOL WKS INC COMMON 452308109 49 600 SH SOLE 1 0 0 600
INCO LTD COMMON 453258402 7 400 SH SOLE 1 0 0 400
ING GROEP N V DEPOSITORY RECEI 456837103 22 404 SH SOLE 1 0 0 404
INKTOMI CORP COMMON 457277101 145 1100 SH SOLE 1 0 0 1100
INKTOMI CORP CALL OPT JAN 7 457277101 789 6000 SH CALL SOLE 1 0 0 6000
INTEL CORP COMMON 458140100 5430 91255 SH SOLE 1 600 0 90655
INTERNATIONAL COMFORT PR ORD 458978103 6 565 SH SOLE 1 0 0 565
INTERNATIONAL BUS MACH COMMON 459200101 11070 85650 SH SOLE 1 900 0 84750
INTERNATIONAL BUS MACH CALL OPT JAN01 8 4592039A5 1790 13000 SH CALL SOLE 1 0 0 13000
INTERNATIONAL PAPER CO COMMON 460146103 363 7225 SH SOLE 1 850 0 6375
JEFFERSON PILOT CORP COMMON 475070108 15 225 SH SOLE 1 0 0 225
JEFFERSON SMURFIT GROUP DEPOSITORY RECEI 47508W107 24 1000 SH SOLE 1 0 0 1000
JOHNSON & JOHNSON COMMON 478160104 5191 52971 SH SOLE 1 750 0 52221
JOHNSON & JOHNSON PUT OPT JUL 8 478160104 176 1800 SH PUT SOLE 1 0 0 1800
JOHNSON CTLS INC COMMON 478366107 31 450 SH SOLE 1 0 0 450
KELLOGG CO COMMON 487836108 4 125 SH SOLE 1 0 0 125
KEYSPAN CORP COMMON 49337W100 301 11400 SH SOLE 1 0 0 11400
KIMBERLY CLARK CORP COMMON 494368103 394 6910 SH SOLE 1 0 0 6910
KIMCO REALTY CORP COMMON 49446R109 4 100 SH SOLE 1 0 0 100
KNIGHT/TRIMARK GROUP INC CL A 499067106 24 400 SH SOLE 1 0 0 400
KOGER EQUITY INC COMMON 500228101 4 200 SH SOLE 1 0 0 200
KONINKLIJKE AHOLD N V DEPOSITORY RECEI 500467303 31 883 SH SOLE 1 0 0 883
KONINKLIJKE PHILIPS ELEC DEPOSITORY RECEI 500472204 2883 28578 SH SOLE 1 0 0 28578
L OREAL CO DEPOSITORY RECEI 502117203 68 500 SH SOLE 1 0 0 500
LAUDER ESTEE AUTOMATIC C TRACES 6.2% 518437207 1022 11850 SOLE 1 0 0 11850
LAUDER ESTEE COS INC CL A 518439104 73 1450 SH SOLE 1 0 0 1450
LEAP WIRELESS INTL INC COMMON 521863100 1 50 SH SOLE 1 0 0 50
LEXMARK INTL GROUP INC CL A 529771107 1467 22400 SH SOLE 1 0 0 22400
LIBERTY PPTY TR SH BEN INT 531172104 22 900 SH SOLE 1 0 0 900
LILLY ELI & CO COMMON 532457108 1666 23255 SH SOLE 1 0 0 23255
LINENS N THINGS INC COMMON 535679104 2 50 SH SOLE 1 0 0 50
LITTON INDS INC COMMON 538021106 14 200 SH SOLE 1 0 0 200
LOCKHEED MARTIN CORP COMMON 539830109 69 1850 SH SOLE 1 0 0 1850
LOWES COS INC COMMON 548661107 228 4025 SH SOLE 1 0 0 4025
LUCENT TECHNOLOGIES INC COMMON 549463107 4616 68453 SH SOLE 1 0 0 68453
LUCENT TECHNOLOGIES PUT OPT JUL 5 549463107 135 2000 SH PUT SOLE 1 0 0 2000
MBIA INC COMMON 55262C100 9 140 SH SOLE 1 0 0 140
MCI CAP I PFD QUIPS A 55267Y206 20 800 SOLE 1 0 0 800
MCI WORLDCOM INC COMMON 55268B106 710 8250 SH SOLE 1 0 0 8250
MEPC INTL CAP L P QUIPS 9.125%05 55271M206 60 2300 SOLE 1 0 0 2300
MACK CALI RLTY CORP COMMON 554489104 183 5900 SH SOLE 1 0 0 5900
MANNESMANN A G DEPOSITORY RECEI 563775303 30 200 SH SOLE 1 0 0 200
MARINE DRILLING COS INC COM PAR $0.01 568240204 27 2000 SH SOLE 1 0 0 2000
MARSH & MCLENNAN COS INC COMMON 571748102 119 1575 SH SOLE 1 0 0 1575
MATTEL INC COMMON 577081102 6 240 SH SOLE 1 0 0 240
MCDONALDS CORP COMMON 580135101 748 18200 SH SOLE 1 900 0 17300
MCGRAW HILL COS INC COMMON 580645109 27 500 SH SOLE 1 0 0 500
MEDIAONE GROUP INC COMMON 58440J104 7 100 SH SOLE 1 0 0 100
MEDIMMUNE INC COMMON 584699102 7 100 SH SOLE 1 0 0 100
MEDTRONIC INC COMMON 585055106 1297 16650 SH SOLE 1 0 0 16650
MELLON BK CORP COMMON 585509102 62 1700 SH SOLE 1 0 0 1700
MERCK & CO INC COMMON 589331107 4584 62260 SH SOLE 1 900 0 61360
MERCK & CO INC CALL OPT JAN 5 589331107 442 6000 SH CALL SOLE 1 0 0 6000
MERRILL LYNCH & CO INC COMMON 590188108 471 5925 SH SOLE 1 0 0 5925
MERRILL LYNCH & CO CALL OPT JAN 5 590188108 318 4000 SH CALL SOLE 1 0 0 4000
MERRILL LYNCH PFD CAP TR TOPRS 7% 59021F206 48 2000 SOLE 1 0 0 2000
METRO ONE TELECOMMUNICAT COMMON 59163F105 3 200 SH SOLE 1 0 0 200
MICROSOFT CORP COMMON 594918104 6627 73475 SH SOLE 1 1200 0 72275
MICROSOFT CORP PUT OPT JUL 7 594918104 271 3000 SH PUT SOLE 1 0 0 3000
MICRON TECHNOLOGY INC COMMON 595112103 10 250 SH SOLE 1 0 0 250
MID-AMER APT CMNTYS INC COMMON 59522J103 278 12000 SH SOLE 1 0 0 12000
MINDSPRING ENTERPRISES I COMMON 602683104 42 950 SH SOLE 1 0 0 950
MINNESOTA MNG & MFG CO COMMON 604059105 1073 12345 SH SOLE 1 850 0 11495
MOBIL CORP COMMON 607059102 1017 10300 SH SOLE 1 0 0 10300
MONSANTO CO COMMON 611662107 144 3650 SH SOLE 1 0 0 3650
MONTANA POWER COMPANY COMMON 612085100 67 950 SH SOLE 1 0 0 950
MORGAN J P & CO INC COMMON 616880100 2633 18740 SH SOLE 1 800 0 17940
MORGAN STAN DEAN WITTR CALL OPT JAN01 4 6169329A9 419 4000 SH CALL SOLE 1 0 0 4000
MORGAN STAN DEAN WITTR PERQS SUNW2001 617446240 84 12000 SOLE 1 0 0 12000
MORGAN STAN DEAN WITTR COM NEW 617446448 49 475 SH SOLE 1 0 0 475
MOTOROLA INC COMMON 620076109 1004 10600 SH SOLE 1 0 0 10600
MOTOROLA INC CALL OPT JAN 5 620076109 758 8000 SH CALL SOLE 1 0 0 8000
NCR CORP NEW COMMON 62886E108 107 2200 SH SOLE 1 0 0 2200
NABISCO GROUP HLDG CORP COMMON 62952P102 30 1516 SH SOLE 1 0 0 1516
NALCO CHEM CO COMMON 629853102 42 800 SH SOLE 1 0 0 800
NASDAQ 100 TR CALL OPT JAN 9 6309069A5 132 1000 SH CALL SOLE 1 0 0 1000
NATIONAL CITY CORP COMMON 635405103 33 500 SH SOLE 1 0 0 500
NATIONAL FUEL GAS CO N J COMMON 636180101 10 200 SH SOLE 1 0 0 200
NESTLE S A DEPOSITORY RECEI 641069406 1775 19708 SH SOLE 1 0 0 19708
AMAZON COM INC CALL OPT JAN0110 64499W9A3 4632 4000 SH CALL SOLE 1 0 0 4000
NEW JERSEY ECONOMIC DEV INCM BD 7.6% 29 645915208 223 8800 SOLE 1 0 0 8800
NEW YORK TIMES CO CL A 650111107 44 1100 SH SOLE 1 0 0 1100
NEWELL RUBBERMAID INC COMMON 651229106 157 3389 SH SOLE 1 0 0 3389
NEXTEL COMMUNICATIONS IN CL A 65332V103 63 1250 SH SOLE 1 0 0 1250
NEXTLINK COMMUNICATNS CL A 65333H707 2237 30075 SH SOLE 1 0 0 30075
NIPPON TELEG & TEL CORP DEPOSITORY RECEI 654624105 13 200 SH SOLE 1 0 0 200
NISOURCE INC COMMON 65473P105 33 1297 SH SOLE 1 0 0 1297
NOKIA CORP DEPOSITORY RECEI 654902204 440 4800 SH SOLE 1 0 0 4800
NORFOLK SOUTHERN CORP COMMON 655844108 9 300 SH SOLE 1 0 0 300
NORTEL NETWORKS CORP COMMON 656569100 10 120 SH SOLE 1 0 0 120
NORTHROP GRUMMAN CORP COMMON 666807102 33 500 SH SOLE 1 0 0 500
NORTHWEST NAT GAS CO COMMON 667655104 18 750 SH SOLE 1 0 0 750
NOVARTIS A G DEPOSITORY RECEI 66987V109 785 10757 SH SOLE 1 0 0 10757
NOVELL INC COMMON 670006105 8 300 SH SOLE 1 0 0 300
NOVO-NORDISK A S DEPOSITORY RECEI 670100205 21 400 SH SOLE 1 0 0 400
OMNIPOINT CORP COMMON 68212D102 226 7800 SH SOLE 1 0 0 7800
ONE VALLEY BANCORP INC COMMON 682419106 79 2108 SH SOLE 1 0 0 2108
ORBITAL SCIENCES CORP COMMON 685564106 2 100 SH SOLE 1 0 0 100
OTTER TAIL PWR CO COMMON 689648103 31 800 SH SOLE 1 0 0 800
OXFORD HEALTH PLANS INC COMMON 691471106 16 1000 SH SOLE 1 0 0 1000
PBOC HLDGS INC COMMON 69316G108 50 5000 SH SOLE 1 0 0 5000
PE CORP BIO GRP COM PE BIO GRP 69332S102 92 800 SH SOLE 1 0 0 800
PE CORP CELAERA GEN CELERA GEN GRP 69332S201 2 150 SH SOLE 1 0 0 150
PNC BANK CORP COMMON 693475105 46 800 SH SOLE 1 0 0 800
PPG INDS INC COMMON 693506107 47 800 SH SOLE 1 0 0 800
PACIFICORP COMMON 695114108 18 1000 SH SOLE 1 0 0 1000
PEOPLES BK BRIDGEPORT CO COMMON 710198102 15 500 SH SOLE 1 0 0 500
PEPSICO INC COMMON 713448108 710 18341 SH SOLE 1 0 0 18341
PET QUARTERS INC COMMON 715844106 6 1500 SH SOLE 1 0 0 1500
PETROLEUM GEO-SVCS A/S DEPOSITORY RECEI 716597109 119 8000 SH SOLE 1 0 0 8000
PHARMACIA & UPJOHN INC COMMON 716941109 64 1125 SH SOLE 1 0 0 1125
PFIZER INC COMMON 717081103 2204 20216 SH SOLE 1 0 0 20216
PFIZER INC CALL OPT JAN01 7 7170849A7 59 500 SH CALL SOLE 1 0 0 500
PHELPS DODGE CORP COMMON 717265102 12 200 SH SOLE 1 0 0 200
PHILIP MORRIS COS COMMON 718154107 736 18306 SH SOLE 1 750 0 17556
PHILLIPS PETE CO COMMON 718507106 33 650 SH SOLE 1 0 0 650
PITNEY-BOWES INC COMMON 724479100 13 200 SH SOLE 1 0 0 200
PLUM CREEK TIMBER CO LP DEPOSITARY UNT 729237107 78 2500 SH SOLE 1 0 0 2500
POHANG IRON & STL LTD DEPOSITORY RECEI 730450103 20 600 SH SOLE 1 0 0 600
POLARIS INDUSTRIES INC COMMON 731068102 26 600 SH SOLE 1 0 0 600
POLAROID CORP COMMON 731095105 8 300 SH SOLE 1 0 0 300
PORTUGAL TELECOM S A DEPOSITORY RECEI 737273102 21 500 SH SOLE 1 0 0 500
POST PPTYS INC COMMON 737464107 281 6850 SH SOLE 1 0 0 6850
POTOMAC ELEC PWR CO COMMON 737679100 24 800 SH SOLE 1 0 0 800
POWERTEL INC COMMON 73936C109 16 550 SH SOLE 1 0 0 550
PRAXAIR INC COMMON 74005P104 73 1500 SH SOLE 1 0 0 1500
PRICELINE COM INC COMMON 741503106 81 700 SH SOLE 1 0 0 700
PROCTER & GAMBLE CO COMMON 742718109 4419 49517 SH SOLE 1 900 0 48617
PROGRESSIVE CORP OHIO COMMON 743315103 1330 9175 SH SOLE 1 0 0 9175
PUBLIC SVC ENTERPRISE GR COMMON 744573106 77 1890 SH SOLE 1 0 0 1890
QLOGIC CORP COMMON 747277101 383 2900 SH SOLE 1 0 0 2900
QUAKER OATS CO COMMON 747402105 13 200 SH SOLE 1 0 0 200
QUALCOMM INC COMMON 747525103 861 6000 SH SOLE 1 0 0 6000
QUALCOMM INC CALL OPT JAN 5 747525103 1005 7000 SH CALL SOLE 1 0 0 7000
QUESTAR CORP COMMON 748356102 9 480 SH SOLE 1 0 0 480
QWEST COMMUNICATIONS INT COMMON 749121109 20 600 SH SOLE 1 0 0 600
RGC RES INC COMMON 74955L103 29 1400 SH SOLE 1 0 0 1400
RAYTHEON CO CL A 755111309 14 200 SH SOLE 1 0 0 200
RELIANT ENERGY INC COMMON 75952J108 77 2800 SH SOLE 1 0 0 2800
REUTERS GROUP PLC DEPOSITORY RECEI 76132M102 24 294 SH SOLE 1 0 0 294
REVLON INC CL A 761525500 36 1175 SH SOLE 1 0 0 1175
REYNOLDS R J TOB HLDGS I COMMON 76182K105 16 503 SH SOLE 1 0 0 503
RHONE POULENC S A DEPOSITORY RECEI 762426609 56 1200 SH SOLE 1 0 0 1200
ROCHE HLDG LTD DEPOSITORY RECEI 771195104 62 600 SH SOLE 1 0 0 600
ROYAL DUTCH PETE CO DEPOSITORY RECEI 780257804 1014 16832 SH SOLE 1 0 0 16832
SBC COMMUNICATIONS INC COMMON 78387G103 537 9263 SH SOLE 1 0 0 9263
ST JUDE MED INC COMMON 790849103 30 850 SH SOLE 1 0 0 850
SAP AKTIENGESELLSCHAFT DEPOSITORY RECEI 803054204 35 1025 SH SOLE 1 0 0 1025
SCHERING PLOUGH CORP COMMON 806605101 3809 72550 SH SOLE 1 0 0 72550
SCHLUMBERGER LTD COMMON 806857108 2026 31811 SH SOLE 1 0 0 31811
SEARS ROEBUCK & CO COMMON 812387108 65 1450 SH SOLE 1 750 0 700
SECTOR SPDR TR SBI INT-TECH 81369Y803 61 1500 SH SOLE 1 0 0 1500
SEMPRA ENERGY COMMON 816851109 113 5000 SH SOLE 1 0 0 5000
SHELL CDA LTD CL A 822567103 80 3950 SH SOLE 1 0 0 3950
SHELL TRANS & TRADING PL DEPOSITORY RECEI 822703609 867 18700 SH SOLE 1 0 0 18700
SHERWIN WILLIAMS CO COMMON 824348106 2 84 SH SOLE 1 0 0 84
SIEMENS A G DEPOSITORY RECEI 826197402 120 1550 SH SOLE 1 0 0 1550
SIMON PPTY GROUP INC NEW COMMON 828806109 5 200 SH SOLE 1 0 0 200
SMITHKLINE BEECHAM PLC DEPOSITORY RECEI 832378301 641 9704 SH SOLE 1 0 0 9704
SONOSITE INC COMMON 83568G104 3 200 SH SOLE 1 0 0 200
SONY CORP DEPOSITORY RECEI 835699307 615 5575 SH SOLE 1 0 0 5575
SOUTHERN CO COMMON 842587107 16 600 SH SOLE 1 0 0 600
SOUTHERN UN CO NEW COMMON 844030106 2 100 SH SOLE 1 0 0 100
SOUTHWEST AIRLS CO COMMON 844741108 16 500 SH SOLE 1 0 0 500
SOUTHWEST GAS CORP COMMON 844895102 6 200 SH SOLE 1 0 0 200
SPRINT CORP COM FON GROUP 852061100 705 13300 SH SOLE 1 0 0 13300
PCS SPRINT CORP PCS COM SER 1 852061506 191 3350 SH SOLE 1 0 0 3350
STAPLES INC COMMON 855030102 237 7650 SH SOLE 1 0 0 7650
STATE STR CORP COMMON 857477103 587 6875 SH SOLE 1 0 0 6875
STMICROELECTRONICS N V COMMON 861012102 430 6200 SH SOLE 1 0 0 6200
SUGEN INC COMMON 865041107 6 200 SH SOLE 1 0 0 200
SUMMIT BANCORP COMMON 866005101 405 9684 SH SOLE 1 0 0 9684
SUMMIT PPTYS INC COMMON 866239106 12 600 SH SOLE 1 0 0 600
SUN MICROSYSTEMS INC COMMON 866810104 6767 98250 SH SOLE 1 1300 0 96950
SUN MICROSYSTEMS INC PUT OPT JUL 5 8668100R6 0 2000 SH PUT SOLE 1 0 0 2000
SUN MICROSYSTEMS INC CALL OPT JAN01 3 8668129A0 764 10400 SH CALL SOLE 1 0 0 10400
SUNOCO INC COMMON 86764P109 45 1500 SH SOLE 1 0 0 1500
SWISSCOM AG DEPOSITORY RECEI 871013108 12 300 SH SOLE 1 0 0 300
SYSTEM SOFTWARE ASSOC IN COMMON 871839106 1 500 SH SOLE 1 0 0 500
TCI SATELLITE ENTMT INC CL A 872298104 3 1000 SH SOLE 1 0 0 1000
TELECOM ITALIA SPA DEPOSITORY RECEI 87927W106 53 500 SH SOLE 1 0 0 500
TELEFONICA S A DEPOSITORY RECEI 879382208 29 200 SH SOLE 1 0 0 200
TELIGENT INC CL A 87959Y103 3568 59660 SH SOLE 1 0 0 59660
TELLABS INC COMMON 879664100 135 2000 SH SOLE 1 0 0 2000
TENGASCO INC COM NEW 88033R205 4 600 SH SOLE 1 0 0 600
TENNECO INC NEW COMMON 88037E101 10 405 SH SOLE 1 0 0 405
TENNESSEE VALLEY AUTH PARRS D 2028 880591300 241 10000 SOLE 1 0 0 10000
TERADYNE INC COMMON 880770102 149 2075 SH SOLE 1 0 0 2075
TEXACO INC COMMON 881694103 853 13670 SH SOLE 1 0 0 13670
TEXAS INSTRS INC COMMON 882508104 2340 16250 SH SOLE 1 150 0 16100
TEXAS UTILS CO COMMON 882848104 23 550 SH SOLE 1 0 0 550
TEXTRON INC COMMON 883203101 450 5470 SH SOLE 1 0 0 5470
TIME WARNER INC COMMON 887315109 3044 41911 SH SOLE 1 0 0 41911
TIME WARNER TELECOM INC CL A 887319101 73 2500 SH SOLE 1 0 0 2500
TIME WARNER CAP I PFD TR 8.875% 88731G204 21 800 SOLE 1 0 0 800
TIME WARNER INC CALL OPT JAN00 4 88731M9A2 818 11000 SH CALL SOLE 1 0 0 11000
TIMES MIRROR CO NEW COM SER A 887364107 27 450 SH SOLE 1 0 0 450
TOOTSIE ROLL INDS INC COMMON 890516107 76 1959 SH SOLE 1 0 0 1959
TORONTO DOMINION BK ON COM NEW 891160509 56 1225 SH SOLE 1 0 0 1225
TOYS R US INC COMMON 892335100 1 40 SH SOLE 1 0 0 40
TRANSCANADA PIPELINES LT PFD 8.25% 2047 893526723 10 400 SOLE 1 0 0 400
TRAVELERS P&C CAP I PFD TR 8.08% 893931204 111 4400 SOLE 1 0 0 4400
TRICON GLOBAL RESTAURANT COMMON 895953107 13 240 SH SOLE 1 0 0 240
TRIBUNE CO NEW COMMON 896047107 35 400 SH SOLE 1 0 0 400
TYCO INTL LTD CALL OPT JAN01 6 9019189A2 508 5000 SH CALL SOLE 1 0 0 5000
TYCO INTL LTD COMMON 902124106 1386 14625 SH SOLE 1 0 0 14625
USX-MARATHON GROUP COM NEW 902905827 55 1700 SH SOLE 1 0 0 1700
USA NETWORKS INC COMMON 902984103 122 3050 SH SOLE 1 0 0 3050
UNUM CORP COMMON 903192102 22 400 SH SOLE 1 0 0 400
ULTRAFEM INC COMMON 903896108 0 10000 SH SOLE 1 0 0 10000
UNILEVER PLC DEPOSITORY RECEI 904767704 372 9977 SH SOLE 1 0 0 9977
UNILEVER N V COMMON 904784501 13 200 SH SOLE 1 0 0 200
UNION CARBIDE CORP COMMON 905581104 51 1050 SH SOLE 1 850 0 200
UNION PAC CORP COMMON 907818108 102 1750 SH SOLE 1 0 0 1750
UNIPHASE CORP COMMON 909149106 17 100 SH SOLE 1 0 0 100
UNITED DOMINION INDS LTD COMMON 909914103 8 350 SH SOLE 1 0 0 350
UNITED DOMINION REALTY T COMMON 910197102 3 250 SH SOLE 1 0 0 250
UNITED STATES CELLULAR C COMMON 911684108 1614 30175 SH SOLE 1 0 0 30175
UNITED STATES CELLULAR C NOTE 6/1 911684AA6 51 100000 PRN SOLE 1 0 0 100000
U S WEST INC NEW COMMON 91273H101 82 1388 SH SOLE 1 0 0 1388
UNITED TECHNOLOGIES CORP COMMON 913017109 958 13300 SH SOLE 1 900 0 12400
UNIVISION COMMUNICATIONS CL A 914906102 26 400 SH SOLE 1 0 0 400
UNOCAL CORP COMMON 915289102 18 450 SH SOLE 1 0 0 450
VALASSIS COMMUNICATIONS COMMON 918866104 349 9525 SH SOLE 1 0 0 9525
VENATOR GROUP INC COMMON 922944103 5 500 SH SOLE 1 0 0 500
VERITAS SOFTWARE CO COMMON 923436109 117 1232 SH SOLE 1 0 0 1232
VICON INDS INC COMMON 925811101 1 100 SH SOLE 1 0 0 100
VISTA PPTYS INC CL A 928382100 0 24 SH SOLE 1 0 0 24
VITESSE SEMICONDUCTOR CO COMMON 928497106 30 450 SH SOLE 1 0 0 450
VODAFONE AIRTOUCH PLC DEPOSITORY RECEI 92857T107 39 200 SH SOLE 1 0 0 200
VOICESTREAM WIRELESS COR COMMON 928615103 543 19100 SH SOLE 1 0 0 19100
VOLKSWAGEN AG DEPOSITORY RECEI 928662303 108 8400 SH SOLE 1 0 0 8400
WAL MART STORES INC COMMON 931142103 552 11450 SH SOLE 1 900 0 10550
WALGREEN CO COMMON 931422109 123 4200 SH SOLE 1 0 0 4200
WARNER LAMBERT CO COMMON 934488107 159 2300 SH SOLE 1 0 0 2300
WASHINGTON MUTUAL INC COMMON 939322103 60 1675 SH SOLE 1 0 0 1675
WASTE MGMT INC DEL COMMON 94106L109 11 200 SH SOLE 1 0 0 200
WEBSTER FINL CORP CONN COMMON 947890109 3 100 SH SOLE 1 0 0 100
WEINGARTEN RLTY INVS PFD A 7.44% 948741202 5 200 SOLE 1 0 0 200
WELLS FARGO & CO NEW COMMON 949746101 175 4102 SH SOLE 1 0 0 4102
WESTERN RES INC COMMON 959425109 19 700 SH SOLE 1 0 0 700
WESTERN WIRELESS CORP CL A 95988E204 499 18475 SH SOLE 1 0 0 18475
WEYERHAEUSER CO COMMON 962166104 38 550 SH SOLE 1 0 0 550
WHIRLPOOL CORP COMMON 963320106 7 100 SH SOLE 1 0 0 100
WILLIAMS COS INC DEL COMMON 969457100 43 1000 SH SOLE 1 0 0 1000
WINSTAR COMMUNICATIONS COMMON 975515107 625 12825 SH SOLE 1 0 0 12825
WINSTAR COMMUNICATIONS CALL OPT JAN 3 975515107 293 6000 SH CALL SOLE 1 0 0 6000
A T & T CORP CALL OPT JAN01 4 97899W9A9 92 1500 SH CALL SOLE 1 0 0 1500
WRIGLEY WM JR CO COMMON 982526105 11 125 SH SOLE 1 0 0 125
XILINX INC COMMON 983919101 355 6200 SH SOLE 1 0 0 6200
XEROX CORP COMMON 984121103 2833 47970 SH SOLE 1 0 0 47970
XOMED SURGICAL PRODS INC COMMON 98412V107 10 200 SH SOLE 1 0 0 200
YAHOO INC COMMON 984332106 550 3195 SH SOLE 1 0 0 3195
A T & T CORP CALL OPT JAN 3 98999W9A6 840 15000 SH CALL SOLE 1 0 0 15000
DAIMLERCHRYSLER AG ORD D1668R123 641 7206 SH SOLE 1 0 0 7206
BSCH FINANCE LTD PREF SER B G16547112 89 3700 SOLE 1 0 0 3700
BSCH FINANCE LTD PREF G 8.125% G16547161 179 7150 SOLE 1 0 0 7150
ESPIRITO SANTO OVERSEAS PREF A 8.5% G3122A107 13 500 SOLE 1 0 0 500
KNIGHTSBRIDGE TANKERS LT ORD G5299G106 74 4250 SH SOLE 1 0 0 4250
PARTNERRE LTD PFD SER A 8% G6852T113 9 350 SOLE 1 0 0 350
RHONE-POULENC OVERSEAS L PREF A 8.125% G75495104 12 500 SOLE 1 0 0 500
SANTANDER FINANCE PREF. SE G7804A160 43 1600 SOLE 1 0 0 1600
TRANSOCEAN OFFSHORE INC ORD G90076103 98 3725 SH SOLE 1 0 0 3725
TRITON ENERGY LTD ORD G90751101 3 300 SH SOLE 1 0 0 300
MILLICOM INTL CELLULAR ORD L6388F102 13 400 SH SOLE 1 0 0 400
AB SVENSK EXPORTKREDIT PFD EXCH W92947212 50 2000 SOLE 1 0 0 2000
</TABLE>
*Pursuant to Special Instruction iii to Form 13F, the Manager has calculated the
values of the above referenced options in response to this Item 4 based upon
the values of their respective underlying securities. Such values do not
reflect, and are greater than, the values of the options themselves as shown in
the books and records of the Manager.
