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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13f Cover Page
Report for the Calendar Year or Quarter Ended 3/31/99
If amended report check here: |X| Amendment Number: ____
This Amendment (Check only one): |_| is a restatement
|_| adds new holding
entries.
Loeb Arbitrage Management Inc.
- --------------------------------------------------------------------------------
Name of Institutional Investment Manager
61 Broadway New York N.Y. 10006
- --------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
13F File Number: 28-_____________
The intitutional 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, and
tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Edward Campbell 212-483-7078
- --------------------------------------------------------------------------------
Name (Title) (Phone)
/s/ EDWARD CAMPBELL
------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
5/12/99 New York, N.Y.
------------------------------------------
(Place and Date of Signing)
Report Type:
[ ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 274
Form 13F Information Table Value Total: $198935
(thousands)
Confidential information has been omitted.
List of Other Included Managers:
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): (List
in alphabetical order).
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
13F File No.: Name: 13F File No.: Name:
------------- ------------------------ ------------- ---------------------
1. 28- Loeb Partners Corp. 6.
------------- ------------------------ ------------- ---------------------
2. Loeb Partners Mgmt. Inc. 7.
------------- ------------------------ ------------- ---------------------
3. 8.
------------- ------------------------ ------------- ---------------------
4. 9.
------------- ------------------------ ------------- ---------------------
5. 10.
------------- ------------------------ ------------- ---------------------
<PAGE>
<TABLE>
<CAPTION>
LOEB ARBITRAGE MANAGEMENT
FORM 13F
MARCH 31, 1999
TITLE SHARES OF VOTING AUTHORITY
NAME OF ISSUER OF CUSIP VALUE PRINCIPAL SH/ PUT/ INVSTMT OTHER ---------------------------
CLASS NUMBER (x$1000) AMOUNT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASTRA AB APR 20 CALL CALL 046298105 29 10,000 SH CALL SOLE 10,000
GUCCI APRIL 80 CALL CALL 4015669D8 72 25,000 SH CALL SOLE 25,000
GUCCI GROUP MAY 90 CALL CALL 4015669E6 3 10,000 SH CALL SOLE 10,000
ICG COMMUNICATION APRIL 20 CALL 4492469D1 18 15,000 SH CALL SOLE 15,000
PLATINUM TECH JUNE 20 CALL CALL 72764T9F0 195 30,000 SH CALL SOLE 30,000
RUSSELL 2000 INDEX MAY 415 CALL 1248359E1 88 15,000 SH CALL SOLE 15,000
1st BERGEN BANCORP COM 318915105 432 18,000 SH SOLE 18,000
ACNIELSEN CORP COM 004833109 268 9,869 SH DEFINED 01 02 4869 5000
ADVANCED NEUROMODULATION S COM 00757T101 441 64,200 SH SOLE 64,200
AEROQUIP-VICKERS INC COM 007869100 3,754 65,500 SH SOLE 65,500
AEROSONIC CORP COM 008015307 439 29,500 SH SOLE 29,500
AEROSPACE CREDITORS LIQD T COM 008017105 - 80,000 SH SOLE 80,000
AFC CABLE SYSTEMS INC COM 000950105 1,580 53,100 SH SOLE 53,100
AFLAC INC COM 001055102 1,088 19,994 SH DEFINED 01 19994
AGOURON PHARMACEUTICALS IN COM 008488108 11,952 211,300 SH SOLE 211,300
AIRPORT SYSTEMS INTL INC COM 00949N103 85 42,300 SH SOLE 42,300
AIRTOUCH COMMUNICATIONS COM 00949T100 23,528 243,500 SH SOLE 243,500
AIRTOUCH COMMUNICATIONS INC COM 00949T100 232 2,400 SH DEFINED 01 2400
AIRTOUCH COMMUNICATIONS INC COM 00949T100 483 5,000 SH SOLE 5000
ALCIDE CORP NEW COM 013742507 382 24,468 SH DEFINED 01 02 296 24172
ALIANT COMMUNICATIONS INC COM 016090102 2,203 53,900 SH SOLE 53,900
ALLMERICA FINANCIAL CORP COM 019754100 220 4,000 SH DEFINED 01 4000
ALLSTATE CORP COM 020002101 400 10,800 SH DEFINED 01 10800
AMERICA SERVICE GROUP INC COM 02364L109 823 70,000 SH SOLE 70,000
AMERICAN BANK OF CONNECTIC COM 024327108 224 11,500 SH SOLE 11,500
AMERICAN BANKERS INSURANCE COM 024456105 3,952 76,000 SH SOLE 76,000
AMERICAN COMMUNICATIONS & COM 025201104 - 20,000 SH DEFINED 01 20000
AMERICAN EXPRESS COMPANY COM 025816109 159 1,350 SH DEFINED 01 300 1050
AMERICAN EXPRESS COMPANY COM 025816109 940 8,000 SH SOLE 8000
AMERICAN INTERNATIONAL GRO COM 026874107 - 202,041 SH SOLE 202,041
AMERICAN INTERNATIONAL GROUP I COM 026874107 1,206 10,000 SH SOLE 10000
AMERICAN INTERNATIONAL GROUP I COM 026874107 4,387 36,370 SH DEFINED 01 36370
AMERICAN INTL GRP RSTD COM 026874107 - 10,978 SH SOLE 10,978
AMERICAN MEDICAL ELECTRONI COM 027425776 - 124,900 SH SOLE 124,900
AMERICAN MEDICAL ELECTRONI COM 027425990 - 124,900 SH SOLE 124,900
AMERICAN PACIFIC CORP COM 028740108 659 86,400 SH SOLE 86,400
AMERICAN RESIDENTIAL SERVI COM 028911105 630 117,300 SH SOLE 117,300
AMERICAN SAFETY RAZOR CO COM 029362100 2,721 197,900 SH SOLE 197,900
AMERICAN SHARED HOSP SVCS COM 029595105 67 44,700 SH SOLE 44,700
AMERICAN STORES CO NEW COM 030096101 7,831 237,300 SH SOLE 237,300
AMERIHOST PROPERTIES INC N COM 03070D209 145 45,100 SH SOLE 45,100
AMERIN CORP COM 03070X106 2,448 120,500 SH SOLE 120,500
AMERITECH CORP NEW COM 030954101 454 7,840 SH DEFINED 01 02 4000 3840
AMGEN INC W/RTS TO PUR COM STK COM 031162100 470 6,280 SH DEFINED 01 02 5880 400
AMP INC COM 031897101 28,090 523,209 SH SOLE 523,209
ANALYSIS & TECHNOLOGY INC COM 032672107 1,487 61,306 SH SOLE 61,306
APARTMENT INVEST & MGMT CO COM 03748R101 263 7,244 SH SOLE 7,244
APPLIED MATERIALS INC COM 038222105 262 4,244 SH DEFINED 01 02 3644 600
AQUILA GAS PIPELINE CORP COM 03839B106 1,138 156,900 SH SOLE 156,900
ARCHITEL SYSTEMS CORP COM 039917109 1,936 100,900 SH SOLE 100,900
ARGENTINA GOLD CORP COM 04011L102 739 162,650 SH SOLE 162,650
ARLEN CORP COM 041327107 - 10,500 SH DEFINED 01 10500
ARTESYN TECHNOLOGIES INC COM 043127109 127 10,230 SH SOLE 10,230
ASA HOLDINGS INC COM 04338Q107 239 7,128 SH SOLE 7,128
ASCEND COMMUNICATIONS INC COM 043491109 16,528 197,500 SH SOLE 197,500
ASSOCIATES FIRST CAPITAL CORP COM 046008108 450 10,000 SH SOLE 10000
ASSOCIATES FIRST CAPITAL CORP COM 046008108 1,507 33,500 SH DEFINED 01 02 16400 17100
ASTORIA FINANCIAL CORP COM 046265104 1,052 21,091 SH SOLE 21,091
ASTRA AB SPONSORED ADR SER COM 046298105 5,805 253,100 SH SOLE 253,100
ASTROSYSTEMS INC NY COM 046465100 237 82,213 SH SOLE 82,213
AT&T CORP COM 001957109 399 5,000 SH SOLE 5000
AT&T CORP COM 001957109 2,346 29,391 SH DEFINED 01 02 5000 24391
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 766 14,560 SH SOLE 14560
AT&T CORP LIBERTY MEDIA GROUP COM 001957208 7,362 139,894 SH DEFINED 01 02 19016 120878
ATLANTIC RICHFIELD CO COM 048825103 4,672 64,000 SH SOLE 64,000
ATLAS STEELS INC UTS 100 B COM NOT AVAIL 916 20,808 SH SOLE 20,808
ATRION CORP COM 049904105 170 17,900 SH SOLE 17,900
AURORA BIOSCIENCES CORP COM 051920106 271 40,400 SH DEFINED 01 40400
AUTONOMOUS TECHNOLOGIES CO COM 05329H105 3,652 356,300 SH SOLE 356,300
AVALONBAY COMMUNITIES INC COM 053484101 261 8,250 SH DEFINED 01 8250
AVANT IMMUNOTHERAPEUTICS I COM 053491114 - 15,509 SH SOLE 15,509
AVCOM INTERNATIONAL INC ES COM 053543997 2 32,100 SH SOLE 32,100
AVIALL INC. NEW COM 05366B102 2,920 188,400 SH SOLE 188,400
AVONDALE INDUSTRIES INC COM 054350103 7,181 243,428 SH SOLE 243,428
AXSYS TECHNOLOGIES INC COM 054615109 2,455 144,434 SH SOLE 144,434
AYDIN CORP COM 054681101 666 50,500 SH SOLE 50,500
AZTEC TECHNOLOGY PARTNERS COM 05480L101 57 34,271 SH SOLE 34,271
BA MERCHANTS SERVICES INC COM 055239107 6,037 296,300 SH SOLE 296,300
BALLARD MEDICAL PRODUCTS COM 058566100 4,753 195,000 SH SOLE 195,000
BANK OF AMER CORP COM 060505104 353 5,000 SH SOLE 5000
BANK OF AMER CORP COM 060505104 616 8,728 SH DEFINED 01 8728
BANK OF COMMERCE SAN DIEGO COM 061589105 3,083 153,200 SH SOLE 153,200
BANK OF NEW YORK CO INC COM 064057102 180 5,000 SH SOLE 5000
BANK OF NEW YORK CO INC COM 064057102 9,154 254,716 SH DEFINED 01 02 191716 63000
BANK ONE CORP COM 06423A103 441 8,000 SH SOLE 8000
BANK ONE CORP COM 06423A103 645 11,719 SH DEFINED 01 02 4000 7719
BANKBOSTON CORP COM 06605R106 1,299 30,000 SH SOLE 30,000
BANKERS TRUST CORP COM 066365107 5,648 64,000 SH SOLE 64,000
BANNER AEROSPACE INC (bar) COM 066525106 1,024 138,900 SH SOLE 138,900
BARBERS HAIRSTYLING FOR ME COM 067160101 1,036 87,247 SH SOLE 87,247
BAXTER INTERNATIONAL INC COM 071813109 330 5,000 SH SOLE 5000
BAXTER INTERNATIONAL INC COM 071813109 535 8,100 SH DEFINED 01 02 2200 5900
BAXTER INTL INC CONT PYMT COM 071813125 18 180,931 SH SOLE 180,931
BAYARD DRILLING TECHNOLOGI COM 072700107 2,270 363,200 SH SOLE 363,200
BCE INC COM 05534b109 674 15,200 SH DEFINED 01 02 10600 4600
BECTON DICKINSON & CO COM 075887109 594 15,500 SH DEFINED 01 02 12800 2700
BELL ATLANTIC CORP COM 077853109 234 4,524 SH DEFINED 01 4524
BELLSOUTH CORP COM 079860102 231 5,760 SH DEFINED 01 5760
BENSONS CRISPS ORD 10p COM NOT AVAIL 9 12,500 SH SOLE 12,500
BERKSHIRE REALTY CO INC COM 084710102 2,560 228,800 SH SOLE 228,800
BESTFOODS COM 08658U101 338 7,200 SH DEFINED 02 7200
BF REALTY HOLDINGS LTD COM 05540l109 - 32,000 SH DEFINED 01 32000
BLACK & DECKER CORP COM 091797100 444 8,000 SH SOLE 8000
BORDEN CHEMICALS & PLASTIC COM 099541203 407 52,500 SH SOLE 52,500
BP AMOCO P L C SPONSORED ADR COM 055622104 2,048 20,293 SH DEFINED 01 02 18655 1638
BRANDYWINE REALTY TRUST-SBI NE COM 105368203 284 17,500 SH DEFINED 01 1300 16200
BRISTOL MYERS SQUIBB CO COM 110122108 3,183 49,500 SH DEFINED 01 02 12800 36700
BROAD NATIONAL BANCORPORAT COM 111239109 2,197 90,348 SH SOLE 90,348
BROUGHTON FOODS CO COM 114838303 594 54,327 SH SOLE 54,327
BROWNING FERRIS COM 115885105 771 20,000 SH SOLE 20,000
BRT REALTY TRUST SBI-NEW COM 055645303 147 21,000 SH SOLE 21000
BRT REALTY TRUST SBI-NEW COM 055645303 289 41,300 SH DEFINED 01 02 4000 37300
BRYLANE INC COM 117661108 4,365 180,000 SH SOLE 180,000
BUILDING ONE SERVICES CORP COM 120114103 1,019 59,500 SH SOLE 59,500
BURLINGTON MOTOR CARRIERS COM 121866206 214 268 SH SOLE 268
BURLINGTON RESOURCES INC COM 122014103 326 8,152 SH DEFINED 01 02 4586 3566
C2 INC COM 126948108 980 170,510 SH SOLE 170,510
CADILLAC FAIRVIEW CORP (cd COM 126929207 291 17,453 SH SOLE 17,453
CADILLAC FAIRVIEW CORP WTS COM 126929116 88 17,641 SH SOLE 17,641
CAMCO FINANCIAL CORP COM 132618109 631 45,482 SH SOLE 45,482
CAPITAL ONE FINANCIAL CORP COM 14040h105 121 800 SH DEFINED 01 800
CAPITAL ONE FINANCIAL CORP COM 14040h105 453 3,000 SH SOLE 3000
CAPSTAR BROADCASTING CORP COM 14067G105 9,987 435,400 SH SOLE 435,400
CARDINAL HEALTH INC COM 14149y108 276 4,176 SH DEFINED 01 02 2514 1662
CARR GOTTSTEIN FOODS CO COM 14441E107 567 46,084 SH SOLE 46,084
CARTER WALLACE INC COM 146285101 544 30,000 SH SOLE 30,000
CATERPILLAR INC COM 149123101 230 5,000 SH SOLE 5000
CBS CORP COM 12490K107 1,023 25,000 SH SOLE 25000
CBS CORP COM 12490K107 2,345 57,282 SH DEFINED 01 02 5800 51482
CCC INFORMATION SERVICES GROUP COM 12487Q109 174 15,000 SH SOLE 15000
CCC INFORMATION SERVICES GROUP COM 12487Q109 334 28,713 SH DEFINED 01 28713
CELADON GROUP INC INC COM 150838100 636 78,300 SH SOLE 78,300
CENTENNIAL HEALTHCARE CORP COM 150937100 1,203 137,450 SH SOLE 137,450
CENTRAL BANKING SYSTEMS IN COM 152609103 - 206,296 SH SOLE 206,296
CENTRAL REALTY INVESTORS INC COM 155052103 - 13,000 SH DEFINED 01 13000
CENTURA BANKS INC COM 15640T100 245 4,206 SH SOLE 4,206
CENTURY COMMUNICATIONS COR COM 156503104 8,131 175,100 SH SOLE 175,100
CENTURY COMMUNICATIONS CORP COM 156503104 518 11,161 SH DEFINED 01 11161
CFSB BANCORP INC COM 124927104 282 11,300 SH SOLE 11,300
CHANCELLOR MEDIA CORP COM 158915108 320 6,800 SH DEFINED 01 02 4000 2800
CHARTER FEDERAL SAVINGS BA COM 161223987 6 92,230 SH SOLE 92,230
CHASE MANHATTAN CORP NEW COM 16161a108 694 8,534 SH DEFINED 01 02 1306 7228
CHAUVCO RESOURCES INTL LTD COM G19472102 - 133,256 SH SOLE 133,256
CHESAPEAKE ENERGY CORP COM 165167107 36 25,000 SH DEFINED 01 25000
CHEVRON CORP COM 166751107 725 8,200 SH DEFINED 01 02 7000 1200
CHRIS-CRAFT INDUSTRIES INC COM 170520100 274 5,997 SH DEFINED 02 5997
CISCO SYSTEMS INC COM 17275R102 2,170 19,807 SH DEFINED 01 02 3000 16807
CITATION COMPUTER SYSTEMS COM 172894107 81 50,100 SH SOLE 50,100
CITIGROUP INC COM 172967101 958 15,000 SH SOLE 15000
CITIGROUP INC COM 172967101 3,586 56,144 SH DEFINED 01 02 41899 14245
CITIZENS UTILITIES CO SER B COM 177342201 158 20,451 SH SOLE 20451
CITIZENS UTILITIES CO SER B COM 177342201 1,320 170,351 SH DEFINED 01 02 35234 135117
CITIZENS UTILITIES CO-SER COM 177342201 693 89,412 SH SOLE 89,412
CITY NATIONAL CORP COM 178566105 278 9,000 SH DEFINED 01 02 5000 4000
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 255 3,800 SH DEFINED 01 3800
CLEAR CHANNEL COMMUNICATIONS I COM 184502102 537 8,000 SH SOLE 8000
CLOROX CO COM 189054109 1,506 12,850 SH DEFINED 01 02 3150 9700
CMP MEDIA INC CL A COM 125891101 661 21,500 SH SOLE 21,500
COAST FEDERAL LITIG RTS COM 19034Q110 593 104,300 SH SOLE 104,300
COLEMAN CO COM 193559101 1,413 171,300 SH SOLE 171,300
COLLAGEN AESTHETICS INC COM 194194106 516 38,425 SH SOLE 38,425
COLONIAL GAS CO COM 195674106 2,808 81,400 SH SOLE 81,400
COLTEC INDUSTRIES COM 196879100 1,531 84,200 SH SOLE 84,200
COLUMBIA/HCA HEALTHCARE CO COM 197677107 254 13,396 SH SOLE 13,396
COLUMBIAN NORTHLAND EXPL COM 198675100 - 27,300 SH SOLE 27300
COMERICA INC COM 200340107 356 5,700 SH DEFINED 01 5700
COMPDENT CORP COM 20449F103 1,464 117,148 SH SOLE 117,148
COMSAT SERIES 1 COM 20564D107 1,095 37,825 SH SOLE 37,825
CONCENTRA MANAGED CARE INC COM 20589T103 360 24,800 SH SOLE 24,800
CONSUMERS FINANCIAL CORP COM 210520102 3 25,768 SH SOLE 25,768
COPLEY PHARMACEUTICAL INC COM 21745K101 386 48,300 SH SOLE 48,300
CORNING INC COM 219350105 300 5,000 SH SOLE 5000
COSTCO COMPANIES INC COM 22160q102 275 3,000 SH SOLE 3000
COUNTY SEAT STORES UTS 12. COM 222581AF7 494 4,938 SH SOLE 4,938
CROWN CASTLE INTL CORP COM 228227104 180 10,000 SH SOLE 10000
CRW FINANCIAL INC COM 126276104 1,583 275,232 SH SOLE 275,232
CSF HOLDINGS ESCROW COM 126335991 3 27,350 SH SOLE 27,350
D & N FINANCIAL CORP COM 232864108 915 40,200 SH SOLE 40,200
DAMEN FINANCIAL CORP COM 235906104 1,256 75,000 SH SOLE 75,000
DANIEL INDUSTRIES INC. COM 236235107 1,068 70,000 SH SOLE 70,000
DATA TRANSMISSION NETWORK COM 238017107 2,942 123,215 SH SOLE 123,215
DAVEL COMMUNICATIONS INC ( COM 238341101 79 11,557 SH SOLE 11,557
DBL LIQUIDATING TRUST (dbl COM 233038108 - 13,000 SH SOLE 13,000
DELTA & PINE LAND CO COM 247357106 7,300 237,400 SH SOLE 237,400
DIME BANCORP INC NEW COM 25429q102 1,414 61,000 SH DEFINED 01 1000 60000
DOLE FOOD CO INC COM 256605106 230 7,715 SH DEFINED 01 02 6215 1500
DSP TECHNOLOGY INC COM 233321108 83 11,200 SH SOLE 11,200
DUANE READE INC COM 263578106 418 15,000 SH SOLE 15,000
DUN & BRADSTREET CORP DEL COM 26483B106 952 26,712 SH DEFINED 01 02 14412 12300
DYNASTY CLASSICS COM 268127107 - 14,415 SH SOLE 14,415
DYNATECH CORP NEW (dyna) COM 268140100 56 16,399 SH SOLE 16,399
E.W. BLANCH HOLDINGS INC. COM 093210102 2,137 40,700 SH SOLE 40,700
EAGLE HARDWARE AND GARDEN COM 26959B101 9,287 243,200 SH SOLE 243,200
EBS BUILDING LLC RSTD CL A COM NOT AVAIL 725 290,113 SH SOLE 290,113
EBS LITIGATION LLC RSTD CL COM NOT AVAIL 171 778,382 SH SOLE 778,382
EBS PENSION LLC RSTD CL A COM NOT AVAIL 353 783,461 SH SOLE 783,461
EL PASO ENERGY CORP COM 283905107 611 18,682 SH DEFINED 01 02 12000 6682
ELCOM INTERNATIONAL INC COM 284434107 118 40,000 SH SOLE 40,000
ELSCINT LTD ORD NEW COM M40168102 987 85,800 SH SOLE 85,800
ELTRAX SYSTEMS INC COM 290375104 195 49,483 SH SOLE 49,483
EMC CORP-MASS COM 268648102 1,022 8,000 SH SOLE 8000
EMC CORP-MASS COM 268648102 2,289 17,920 SH DEFINED 01 02 9700 8220
EMERALD FINANCIAL CORP COM 290927102 2,078 110,800 SH SOLE 110,800
EMMIS COMMUNICATIONS CORP-CL A COM 291525103 300 6,000 SH DEFINED 01 02 3000 3000
END OF THE ROAD TRUST CL A COM 292567104 956 450,092 SH SOLE 450,092
ENEX RESOURCES COM 292744208 133 19,363 SH SOLE 19,363
ENRON OIL AND GAS CO COM 293562104 3,197 192,300 SH SOLE 192,300
ENTERPRISE FEDERAL BANCORP COM 293711107 1,169 26,200 SH SOLE 26,200
ENTERPRISE SOFTWARE INC COM 29379K107 355 53,599 SH SOLE 53,599
ENVOY CORP COM 293982104 5,558 127,100 SH SOLE 127,100
EQK REALTY INVESTORS 1 SBI COM 268820107 11 21,100 SH DEFINED 01 21100
EQUITABLE COMPANIES INC COM 29444G107 1,288 18,400 SH DEFINED 01 02 6500 11900
EQUITRAC CORP COM 294599105 1,529 67,600 SH SOLE 67,600
EQUITY OFFICE PROPERTIES TRUST COM 294741103 265 10,427 SH DEFINED 01 1125 9302
EQUITY RESIDENTIAL PPTYS T COM 29476L883 1,381 59,900 SH SOLE 59,900
ESKIMO PIE CORP COM 296443104 938 144,350 SH SOLE 144,350
ESSEX INTL INC DEL COM 297025108 511 21,499 SH SOLE 21,499
EXCITE INC COM 300904109 5,301 37,900 SH SOLE 37,900
EXECUTIVE RISK COM 301586103 3,216 45,300 SH SOLE 45,300
EXECUTIVE RISK INC COM 301586103 376 5,300 SH DEFINED 01 400 4900
EXPERT SOFTWARE INC COM 302131107 104 50,426 SH SOLE 50,426
EXXON CORP COM 302290101 353 5,000 SH SOLE 5000
EXXON CORP COM 302290101 499 7,072 SH DEFINED 01 02 5200 1872
FANNIE MAE COM 313586109 672 9,700 SH DEFINED 01 02 1500 8200
FCB FINANCIAL CORP COM 301932109 288 10,100 SH SOLE 10,100
FDP CORP COM 302905104 1,395 87,500 SH SOLE 87,500
FEDERATED DEPARTMENT STORES IN COM 31401H101 241 6,000 SH DEFINED 01 6000
FINANCIAL FEDERAL CORP COM 317492106 1,606 84,514 SH DEFINED 01 1050 83464
FIRST CITIZENS CORP COM 319588109 1,760 47,400 SH SOLE 47,400
FIRST DATA CORP COM 319963104 556 13,000 SH SOLE 13000
FIRST REPUBLIC BANCORP INC COM 336158100 909 37,681 SH DEFINED 01 02 5000 32681
FIRST SENTINEL BANCORP INC COM 33640T103 322 40,915 SH SOLE 40,915
FIRST UNION CORP COM 337358105 305 5,700 SH DEFINED 01 5700
FIRSTAR CORP WIS-NEW COM 33763v109 322 3,600 SH DEFINED 01 3600
FNB ROCHESTER CORP COM 302908108 1,146 35,810 SH SOLE 35,810
FOAMEX INTERNATIONAL INC COM 344123104 882 162,225 SH SOLE 162,225
FORT BEND HOLDING CORP COM 346824105 637 36,900 SH SOLE 36,900
FRANCHISE MORTGAGE ACCEPTA COM 35181D108 500 69,000 SH SOLE 69,000
FRED MEYER INC-DEL COM 592907109 11,910 202,300 SH SOLE 202,300
FREEPORT MCMORAN COOPER & COM 35671d857 109 10,000 SH SOLE 10,000
FRESNIUS MED CARE HDLGS PF COM 358030203 - 225,600 SH SOLE 225,600
FRONTIER CORP COM 35906P105 3,891 75,000 SH SOLE 75,000
FUSION SYSTEMS CORP CVR RT COM 361129117 - 98,300 SH SOLE 98,300
GADZOOKS INC COM 362553109 256 34,700 SH SOLE 34,700
GANNETT CO INC COM 364730101 202 3,200 SH DEFINED 02 3200
GENEMEDICINE INC COM 368707105 67 29,500 SH SOLE 29,500
GENENTECH INC SPL COM 368710307 470 5,300 SH DEFINED 01 5300
GENERAL ELECTRIC CO COM 369604103 1,659 15,000 SH SOLE 15000
GENERAL ELECTRIC CO COM 369604103 2,491 22,520 SH DEFINED 01 02 1300 21220
GENERAL MOTORS CORP CL H COM 370442832 43 850 SH DEFINED 01 02 750 100
GENERAL MOTORS CORP CL H COM 370442832 429 8,500 SH SOLE 8500
GEOCITIES COM 37247V106 5,157 47,100 SH SOLE 47,100
GEOSCIENCE CORP COM 373636109 617 98,700 SH SOLE 98,700
GETCHELL GOLD CORP COM 374265106 4,908 187,400 SH SOLE 187,400
GILLETTE CO COM 375766102 701 11,794 SH DEFINED 01 02 4400 7394
GLAXO WELLCOME PLC SPONSORED A COM 37733w105 540 8,066 SH DEFINED 01 02 2066 6000
GLOBAL INDUSTRIAL TECHNOLO COM 379335102 1,756 167,200 SH SOLE 167,200
GOLDEN BOOKS FNCL TR 8.75% COM 38080R400 225 50,000 SH SOLE 50,000
GOLDEN STATE BANCORP WTS COM 381197136 186 38,739 SH SOLE 38,739
GROW BIZ INTL INC COM 399817105 296 24,700 SH SOLE 24,700
GTE CORP COM 362320103 605 10,000 SH SOLE 10000
GTE CORP COM 362320103 808 13,362 SH DEFINED 01 02 4162 9200
GUARDIAN ROYAL EX COM G41944136 61 10,250 SH SOLE 10,250
GUCCI GROUP NV COM 401566104 4,830 60,000 SH SOLE 60,000
GULFMARK INTERNATIONAL INC COM 402629109 551 46,180 SH DEFINED 01 02 7600 38580
GULFPORT ENERGY NEW COM 402635304 52 34,967 SH SOLE 34,967
HALLIBURTON CO COM 406216101 308 8,000 SH DEFINED 01 8000
HARDING LAWSON ASSOC COM 412293102 105 15,000 SH SOLE 15,000
HERLEY INDUSTRY INC DEL WT COM 427398128 140 48,800 SH SOLE 48,800
HEWLETT PACKARD CO COM 428236103 576 8,500 SH DEFINED 01 02 3500 5000
HILLS STORE COMPANY CONT R COM 431COM991 - 500,000 SH SOLE 500,000
HILLS STORES CO EXCH/TENDE COM NOT AVAIL - 250,000 SH SOLE 250,000
HOLLINGER INTERNATIONAL INC CL COM 435569108 285 21,000 SH DEFINED 01 02 15000 6000
HOLLY CORP NEW COM 435758305 383 28,600 SH SOLE 28,600
HOLLYWOOD PARK (hpk) COM 436255103 343 33,226 SH SOLE 33,226
HOME DEPOT INC COM 437076102 436 7,000 SH SOLE 7000
HOME DEPOT INC COM 437076102 794 12,750 SH DEFINED 01 02 4000 8750
HOST MARRIOTT CORP-NEW REIT COM 44107p104 497 44,652 SH DEFINED 01 02 4348 40304
HOUSEHOLD INTERNATIONAL INC COM 441815107 328 7,200 SH DEFINED 01 7200
ICG COMMUNICATIONS INC COM 449246107 242 12,200 SH SOLE 12,200
IMPERIAL SUGAR CO NEW COM 453096109 267 43,986 SH SOLE 43,986
IMS HEALTH INC COM 449934108 1,385 41,824 SH DEFINED 01 02 28824 13000
INCO LTD CL VBN (VOYSEY BA COM 453258709 361 52,400 SH SOLE 52,400
INDUSTRIAL SCIENTIFIC CORP COM 45631G106 518 19,200 SH SOLE 19,200
INSITUFORM EAST INC COM 457662104 29 23,300 SH SOLE 23,300
INSURANCE AUTO AUCTIONS IN COM 457875102 749 63,100 SH SOLE 63,100
INTEGRATED CIRCUIT SYSTEMS COM 45811K109 3,159 174,900 SH SOLE 174,900
INTEGRATED PROCESS EQUIPME COM 45812K108 2,079 226,300 SH SOLE 226,300
INTERCARGO CORP COM 45844C108 1,562 135,800 SH SOLE 135,800
INTERLINK COMPUTER SCIENCE COM 458747102 617 93,200 SH SOLE 93,200
INTERLINQ SOFTWARE CORP COM 458753100 742 98,075 SH SOLE 98,075
INTERMAGNETICS GENERAL CORP COM 458771102 133 16,112 SH DEFINED 01 16112
INTERNATIONAL BUSINESS MACHINE COM 459200101 886 5,000 SH SOLE 5000
INTERNATIONAL BUSINESS MACHINE COM 459200101 1,459 8,234 SH DEFINED 01 02 2472 5762
INTERPUBLIC GROUP OF COS INC COM 460690100 533 6,848 SH DEFINED 01 6848
INTERSTATE/JOHNSON LANE IN COM 460892102 1,274 40,700 SH SOLE 40,700
INTERTAN INC COM 461120107 244 25,000 SH SOLE 25,000
IRVINE APARTMENT COMMUNITI COM 463606103 2,384 72,525 SH SOLE 72,525
IXC COMMUNICATIONS INC COM 450713102 2,670 58,200 SH SOLE 58,200
J RAY MCDERMOTT SA COM P64658100 1,942 65,000 SH SOLE 65,000
JACOR COMMUNICATIONS INC COM 469858401 9,097 119,800 SH SOLE 119,800
JAN BELL MARKETING INC COM 470760109 64 15,000 SH SOLE 15,000
JDS FITEL INC COM 465934107 8,886 157,700 SH SOLE 157,700
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 92 10,000 SH SOLE 10000
JOHN HANCOCK BANK & THRIFT OPP COM 409735107 529 57,600 SH DEFINED 01 57600
JOHN MANVILLE CORP NEW COM 478129109 2,838 164,500 SH SOLE 164,500
JOHNSON & JOHNSON COM 478160104 937 10,000 SH SOLE 10000
JOHNSON & JOHNSON COM 478160104 3,429 36,600 SH DEFINED 01 02 8400 28200
JUNO LIGHTING INC COM 482047107 2,459 110,500 SH SOLE 110,500
K N ENERGY INC COM 482620101 248 12,450 SH DEFINED 01 02 10650 1800
K&G MENS CENTER INC COM 482245107 695 69,950 SH SOLE 69,950
KANSAS CITY POWER & LIGHT COM 485134100 3,871 157,200 SH SOLE 157,200
KANSAS CITY SO COM 485170104 285 5,000 SH DEFINED 02 5000
KARRINGTON HEALTH INC COM 485762108 2,845 212,715 SH SOLE 212,715
KAYNAR TECHNOLOGIES INC COM 486605108 2,152 76,860 SH SOLE 76,860
KDI CORP-CONTINGENT PMT UNIT COM 482452307 - 149,500 SH SOLE 149500
KERR MCGEE CORP COM 492386107 1,828 55,707 SH SOLE 55,707
KEYCORP NEW (key) COM 493267108 243 8,028 SH SOLE 8,028
KN ENERGY COM 482620101 2,492 125,000 SH SOLE 125,000
KNOLL INC COM 498904101 985 40,000 SH SOLE 40,000
KTI INC NEW COM 482689205 315 30,700 SH SOLE 30,700
LAB HOLDINGS INC COM 505353102 1,357 81,649 SH SOLE 81,649
LABORATORY CORP AMER WTS 4 COM 50540R110 - 21,445 SH SOLE 21,445
LABORATORY CORP OF AMERICA COM 50540R201 428 8,835 SH SOLE 8,835
LABORATORY CORP OF AMERICA HOL COM 50540r102 17 10,000 SH SOLE 10000
LAI WORLDWIDE INC COM 501718100 288 46,000 SH SOLE 46,000
LAKES GAMING INC COM 51206P109 434 53,374 SH SOLE 53,374
LAKEVIEW FINANCIAL CORP-N. COM 512222100 805 37,900 SH SOLE 37,900
LANDRYS SEAFOOD RESTAURANT COM 51508L103 429 66,900 SH SOLE 66,900
LANDSING PACIFIC FUND COM 515096105 1 81,850 SH SOLE 81,850
LEARNING COMPANY INC COM 522008101 9,532 328,700 SH SOLE 328,700
LEVEL ONE COMMUNICATIONS I COM 527295109 1,337 27,500 SH SOLE 27,500
LIFE TECHNOLOGIES INC NEW COM 532177201 516 13,356 SH SOLE 13,356
LIFELINE SYSTEMS INC COM 532192101 2,828 125,675 SH SOLE 125,675
LITTLE FALLS BANCORP INC ( COM 537101107 988 50,500 SH SOLE 50,500
LITTLE SWITZERLAND INC COM 537528101 256 131,900 SH SOLE 131,900
LOCKHEED MARTIN CORP COM 539830109 302 8,000 SH DEFINED 02 8000
LONE STAR LIQUIDATING TRUS COM 54229R102 1,225 802,855 SH SOLE 802,855
LOWRANCE ELECTRONICS INC COM 548900109 310 51,700 SH SOLE 51,700
LUCASVARITY PLC SPN ADR COM 549395101 9,216 198,500 SH SOLE 198,500
LUCENT TECHNOLOGIES INC COM 549463107 809 7,510 SH DEFINED 01 02 2628 4882
MACK-CALI REALTY CORP COM 554489104 206 7,000 SH DEFINED 01 7000
MANUGISTICS GROUP INC COM 565011103 754 113,800 SH SOLE 113,800
MARSH & MCLENNAN COMPANIES INC COM 571748102 371 5,000 SH SOLE 5000
MASON DIXON BANCSHARES INC COM 575207105 315 7,000 SH SOLE 7,000
MATLACK SYSTEMS INC COM 576901102 344 61,100 SH SOLE 61,100
MATRIX BANCORP INC COM 576819106 753 61,474 SH SOLE 61,474
MBO PROPERTIES INC (mbopq) COM 55263L109 722 360,857 SH SOLE 360,857
MCDONALDS CORP COM 580135101 453 10,000 SH SOLE 10000
MCDONALDS CORP COM 580135101 1,223 27,000 SH DEFINED 01 02 4400 22600
MCI WORLDCOM INC COM 55268B106 89 1,000 SH DEFINED 01 1000
MCI WORLDCOM INC COM 55268B106 709 8,000 SH SOLE 8000
MEDIAONE GROUP INC COM 912889201 952 15,000 SH SOLE 15000
MEDIAONE GROUP INC COM 912889201 1,427 22,480 SH DEFINED 01 02 6000 16480
MEDIAONE GROUP INC (umg) COM 58440J104 3,683 58,000 SH SOLE 58,000
MEDICAL RESOURCES INC-NEW COM 58461Q409 22 10,666 SH SOLE 10,666
MEDIWARE INFORMATION SYSTE COM 584946107 429 57,200 SH SOLE 57,200
MEDTRONIC INC COM 585055106 431 6,012 SH SOLE 6,012
MELLON BANK CORP COM 585509102 633 9,000 SH SOLE 9000
MELLON BANK CORP COM 585509102 730 10,370 SH DEFINED 01 02 5000 5370
MERCANTILE BANCORP COM 587342106 2,234 47,042 SH SOLE 47,042
MERCK & CO INC COM 589331107 746 9,300 SH DEFINED 01 02 9200 100
MERIDIAN INDUSTRISL TRUST COM 589643105 4,612 187,850 SH SOLE 187,850
MERIDIAN MEDICAL TECHNOLOG COM 589658103 115 22,350 SH SOLE 22,350
MERIDIAN RESOURCE CORP (TH COM 58977Q109 139 41,106 SH SOLE 41,106
MERISTAR HOTELS & RESORTS COM 589988104 355 129,100 SH SOLE 129,100
MERIT HOLDING CORP COM 589964105 416 21,322 SH SOLE 21,322
MERRY LAND PROPERTIES INC COM 590441101 64 10,968 SH SOLE 10,968
METROCALL INC RTS COM 591647110 - 67,749 SH SOLE 67,749
MGI PROPERTY (MGI) COM 552885105 690 25,200 SH SOLE 25,200
MGM GRAND INC COM 552953101 499 14,831 SH SOLE 14,831
MICRION CORP COM 59479P102 670 80,035 SH SOLE 80,035
MICROS TO MAINFRAMES INC COM 594944100 234 69,435 SH SOLE 69,435
MICROSOFT CORP COM 594918104 1,620 18,080 SH DEFINED 01 02 12600 5480
MILESTONE PROPERTIES INC ( COM 599358108 208 118,800 SH SOLE 118,800
MOBIL CORP COM 607059102 391 4,448 SH DEFINED 01 02 2840 1608
MOBIL CORP COM 607059102 3,775 42,900 SH SOLE 42,900
MONSANTO CO COM 611662107 299 6,500 SH DEFINED 02 01 6000 500
MOORE MEDICAL CORP COM 615799103 370 35,200 SH SOLE 35,200
MORGAN PRODUCTS LTD COM 617439104 422 118,400 SH SOLE 118,400
MORTON INTERNATIONAL INC COM 619335102 9,188 250,000 SH SOLE 250,000
MOTOROLA INC COM 620076109 366 5,000 SH SOLE 5000
MOVIEFONE INC CL A COM 624598108 233 5,000 SH SOLE 5,000
NAC RE CORP COM 628907107 5,755 107,200 SH SOLE 107,200
NATIONAL INFORMATION GROUP COM 63648P100 1,168 121,300 SH SOLE 121,300
NATIONSRENT INC COM 638588103 1,427 198,500 SH SOLE 198,500
NAVIGANT INTERNATIONAL INC COM 63935R108 90 17,134 SH SOLE 17,134
NEFF CORP CL A COM 640094108 290 36,300 SH SOLE 36,300
NESTLE SA-SPONSORED ADR COM 641069406 1,562 17,200 SH DEFINED 01 02 9700 7500
NEW DIMENSIONS SOFTWARELTD COM M74295102 3,583 69,075 SH SOLE 69,075
NEW PLAN EXCEL REALTY TRUST IN COM 648053106 224 11,650 SH DEFINED 01 11650
NEWCOURT CREDIT GROUP INC COM 650905102 395 14,600 SH SOLE 14,600
NEWPARK RESOURCES INC NEW COM 651718507 72 10,000 SH DEFINED 02 10000
NEWPORT NEWS SHIPBUILDING COM 652228107 1,458 46,000 SH SOLE 46,000
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 275 10,000 SH SOLE 10000
NEWS CORP LTD-SPONSORED ADR RE COM 652487802 357 13,000 SH DEFINED 01 02 10000 3000
NEXSTAR PHARMACEUTICALS COM 65333B106 2,001 117,700 SH SOLE 117,700
NOBEL INSURANCE LTD COM 654885102 123 163,612 SH SOLE 163,612
NOBEL LEARNING COMMUNITIES COM 654889104 138 29,340 SH SOLE 29,340
NOEL GROUP INC COM 655260107 248 247,800 SH SOLE 247,800
NOKIA CORP-SPONSORED ADR REPST COM 654902204 467 3,000 SH SOLE 3000
NOMAS CORP (nmas) COM 655319101 141 26,819 SH SOLE 26,819
NORTH AMERICAN BANK & TRUST CO COM 656751104 55 10,000 SH DEFINED 01 10000
NORTH CAROLINA NATURAL GAS COM 658221106 1,109 36,500 SH SOLE 36,500
NORTH FORK BANCORPORATION INC COM 659424105 253 12,000 SH DEFINED 01 12000
NORTHEAST BANCORP ESCROW/R COM 664058989 2 153,030 SH SOLE 153,030
NORTHERN TELECOM LTD COM 665815106 302 4,860 SH DEFINED 01 4860
NORTHROP GRUMMAN CORP COM 666807102 599 10,000 SH SOLE 10,000
NORTHWEST EQUITY CORP COM 667454102 761 34,600 SH SOLE 34,600
NOVACARE INC COM 669930109 110 62,930 SH SOLE 62,930
NOVARTIS AG-SPONSORED ADR COM 66987v109 406 5,000 SH SOLE 5000
NOVARTIS AG-SPONSORED ADR COM 66987v109 608 7,500 SH DEFINED 02 7500
NTL INCORPORATED COM 629407107 2,103 25,839 SH DEFINED 01 02 1800 24039
OCEAN ENEGY INC NEW (oei) COM 674812201 3,825 561,660 SH SOLE 561,660
OPTI INC COM 683960108 92 16,250 SH SOLE 16,250
ORANGE & ROCKLAND UTILITIE COM 684065105 3,027 52,700 SH SOLE 52,700
ORCAD INC COM 685568107 206 25,400 SH SOLE 25,400
ORTHOFIX INT NV COM N6748L102 401 27,189 SH SOLE 27,189
OSHAP TECHNOLOGIES LTD COM 671039105 1,546 118,900 SH SOLE 118,900
O'SULLIVAN INDUSTRIES HOLD COM 688609106 279 20,200 SH SOLE 20,200
PALL CORP COM 696429307 1,186 71,586 SH DEFINED 01 02 3233 68353
PARK PLACE ENTERTAINMENT C COM 700690100 1,070 141,500 SH SOLE 141,500
PAYMENTECH INC COM 704384106 2,835 120,000 SH SOLE 120,000
PC DOCS GROUP INTERNATIONA COM 69318L105 297 68,900 SH SOLE 68,900
PEAK INTERNATIONAL LTD COM G69586108 264 122,550 SH SOLE 122,550
PENNCORP FINL GROUP INC $3 COM 708094701 276 29,000 SH SOLE 29,000
PENNZOIL-QUAKER STATE CO ( COM 709323109 702 56,725 SH SOLE 56,725
PEOPLES BANCORP INC NEW COM 709909105 1,011 103,000 SH SOLE 103,000
PEPSICO INC COM 713448108 323 8,240 SH DEFINED 01 02 5400 2840
PETRIE STORES LIQUIDATING COM 716437108 401 186,075 SH SOLE 186,075
PFIZER INC COM 717081103 694 5,000 SH SOLE 5000
PFIZER INC COM 717081103 3,531 25,450 SH DEFINED 01 02 15550 9900
PHARMACEUTICAL MKTG SVCS I COM 717123103 5,682 381,100 SH SOLE 381,100
PHARMERICA INC (dose) COM 717135107 1,533 310,423 SH SOLE 310,423
PHILADELPHIA SUBURBAN CORP COM 718009608 1,831 80,700 SH SOLE 80,700
PHOENIX NETWORK INC-ESCROW COM 718910995 - 120,100 SH SOLE 120,100
PHOENIX TECHNOLOGIES LTD COM 719153108 130 15,361 SH SOLE 15,361
PHYMATRIX CORP COM 718925100 259 150,800 SH SOLE 150,800
PHYSICIAN RELIANCE NETWORK COM 71940G108 896 107,000 SH SOLE 107,000
PIONEER HI-BRED INTL INC COM 723686101 4,797 127,500 SH SOLE 127,500
PIXTECH INC COM 72583K109 149 59,600 SH DEFINED 01 59600
PLATINUM TECHNOLOGY INC COM 72764T101 5,824 229,510 SH SOLE 229,510
PLAYCORE INC (pco) COM 72811G102 160 32,412 SH SOLE 32,412
PLAYERS INTERNATIONAL INC COM 727903106 955 155,930 SH SOLE 155,930
POLK AUDIO INC COM 730900107 149 13,500 SH SOLE 13,500
POOL ENERGY COM 732788104 3,186 212,400 SH SOLE 212,400
POWERHOUSE TECHNOLOGIES IN COM 739323103 564 32,800 SH SOLE 32,800
PREMIERE PAGE INC ESCROW COM 74058E998 - 27,000 SH SOLE 27,000
PREMIERE TECHNOLOGIES INC COM 74058F102 547 48,583 SH SOLE 48,583
PRIME BANCORP INC DEL COM 741914105 505 20,500 SH SOLE 20,500
PRIME HOSPITALITY CORP COM 741917108 149 15,000 SH SOLE 15,000
PRIME HOSPITALITY CORP COM 741917108 288 29,000 SH SOLE 29000
PRIME HOSPITALITY CORP COM 741917108 540 54,300 SH DEFINED 01 02 2800 51500
PRIME RETAIL INC 8.5% CV P COM 741570303 355 22,198 SH SOLE 22,198
PROCTER & GAMBLE CO COM 742718109 784 8,000 SH SOLE 8000
PROCTER & GAMBLE CO COM 742718109 1,696 17,320 SH DEFINED 01 02 1600 15720
PROPERTY CAPITAL TRUST-SBI COM 743437105 42 37,400 SH SOLE 37,400
PROSPECT GROUP NEW (pros) COM 742918501 3 18,811 SH SOLE 18,811
PROVIDENT BANKSHARES CORP COM 743859100 3,564 136,438 SH DEFINED 01 02 17506 118932
PROVIDENT COMPANIES INC COM 743862104 270 7,800 SH SOLE 7,800
PUBLIC SERVICE CO OF NC IN COM 744516105 2,142 75,500 SH SOLE 75,500
PUBLIC STORAGE INC COM 74460D109 954 38,146 SH SOLE 38,146
QUALITY SEMICONDUCTOR INC COM 74758B104 893 255,200 SH SOLE 255,200
QUALIX GROUP INC COM 747586105 1,793 239,100 SH SOLE 239,100
QUICKTURN DESIGN SYSTEMS I COM 74838E102 5,497 389,153 SH SOLE 389,153
QUIPP INC COM 748802105 429 20,300 SH SOLE 20,300
QWEST COMMUNICATIONS INTERNATI COM 749121109 360 5,000 SH SOLE 5000
RAMAPO FINANCIAL CORP COM 751366105 1,163 113,500 SH SOLE 113,500
RANGE RESOURCES CORP COM 75281A109 461 131,829 SH SOLE 131,829
RCN CORP COM 749361101 1,785 53,200 SH SOLE 53,200
RELIASTAR FINANCIAL CORP COM 75952u103 469 11,000 SH DEFINED 01 02 6000 5000
RELTEC CORP COM 759527104 2,900 98,500 SH SOLE 98,500
REPUBLIC BANKING CORP OF F COM 760322107 2,269 121,400 SH SOLE 121,400
REPUBLIC SECURITY FINCL CO COM 760758102 200 21,810 SH SOLE 21,810
RESPONSE USA INC COM 761235506 56 27,700 SH SOLE 27,700
REUTERS GROUP PLC SPONSORED AD COM 76132m102 241 2,773 SH DEFINED 02 2773
RIVERA HOLDINGS CORP RTS COM 769627118 - 52,475 SH SOLE 52,475
RIVIERA HOLDINGS CORP COM 769627100 175 40,075 SH SOLE 40,075
RJR NABISCO HOLDINGS CORP COM 74960K876 3,278 131,100 SH SOLE 131,100
ROCHE HOLDING LTD SPONSORED AD COM 771195104 1,219 10,000 SH SOLE 10000
ROCHE HOLDING LTD SPONSORED AD COM 771195104 4,685 38,420 SH DEFINED 01 02 12100 26320
ROCK BOTTOM RESTAURANTS IN COM 771833100 1,118 130,550 SH SOLE 130,550
ROHN INC COM 775381106 783 353,050 SH SOLE 353,050
ROSLYN BANCORP INC COM 778162107 2,666 157,978 SH SOLE 157,978
ROTONICS MANUFACTURING COM 778903104 175 200,200 SH SOLE 200,200
ROYAL DUTCH PETROLEUM CO NY RE COM 780257804 416 8,000 SH DEFINED 01 02 6000 2000
RYERSON TULL INC NEW COM 78375P107 737 50,209 SH SOLE 50,209
SAFETY COMPONENTS INTL INC COM 786474106 165 19,600 SH SOLE 19,600
SAFETY KLEEN INC NEW COM COM 78648R203 373 28,143 SH SOLE 28,143
SAVIN CORP ESCROW COM 805176989 - 26,050 SH SOLE 26,050
SBARRO INC COM 805844107 7,163 270,300 SH SOLE 270,300
SBC COMMUNICATIONS INC COM 78387g103 431 9,148 SH DEFINED 01 9148
SCHERING PLOUGH CORP COM 806605101 1,167 21,100 SH DEFINED 01 02 16700 4400
SCHLUMBERGER LTD COM 806857108 420 6,982 SH DEFINED 01 02 6132 850
SCHOOL SPECIALTY INC COM 807863105 274 14,038 SH SOLE 14,038
SEAGRAM CO LTD COM 811850106 802 16,050 SH DEFINED 01 02 9500 6550
SEALED AIR CORP $2 CONV PF COM 81211K209 504 10,172 SH SOLE 10,172
SEALY CORP WTS COM 812139111 18 82,486 SH SOLE 82,486
SEAMED CORP COM 81218Q100 552 58,100 SH SOLE 58,100
SEEQ TECHNOLOGY INC DEL COM 815779103 740 269,200 SH SOLE 269,200
SHERIDAN HEALTHCARE INC COM 823781109 985 115,000 SH SOLE 115,000
SHERWIN WILLIAMS CO COM 824348106 197 7,000 SH DEFINED 01 02 2000 5000
SHERWIN WILLIAMS CO COM 824348106 225 8,000 SH SOLE 8000
SIEMENS AG-ADR NEW COM 826197402 324 4,850 SH DEFINED 01 4850
SIENA HOLDINGS INC COM 826203101 148 147,704 SH SOLE 147,704
SIERRAWEST BANCORP COM 826527103 555 17,300 SH SOLE 17,300
SILICON VALLEY COM 827066101 226 18,434 SH SOLE 18,434
SILICON VALLEY GROUP INC COM 827066101 671 54,500 SH DEFINED 01 1000 53500
SIZZLER INTERNATIONAL INC COM 830139101 254 135,275 SH SOLE 135,275
SKANEATELES BANCORP INC COM 830506101 823 37,851 SH SOLE 37,851
SNYDER OIL CORP COM 833482102 1,115 75,300 SH SOLE 75,300
SONAT INC COM 835415100 300 10,000 SH SOLE 10,000
SOUTHERN PACIFIC PETROLEUM COM 843581307 41 11,000 SH DEFINED 01 11000
SOUTHWEST GAS CORP COM 844895102 3,495 127,100 SH SOLE 127,100
SOVEREIGN BANCORP INC COM 845905108 220 18,000 SH DEFINED 01 1440 16560
SPECTRANETICS CORP COM 84760C107 59 20,878 SH SOLE 20,878
SPELLING ENTERTAINMENT COM 847807104 1,186 135,500 SH SOLE 135,500
SPORT-HALEY INC COM 848925103 451 55,450 SH SOLE 55,450
SPR INC COM 784922106 424 103,500 SH SOLE 103,500
ST JOHN KNITS INC COM 790289102 5,576 211,400 SH SOLE 211,400
ST PAUL BANCORP COM 792848103 626 28,967 SH SOLE 28,967
STAFF LEASING INC COM 852381102 1,938 137,800 SH SOLE 137,800
STARWOOD HOTELS & RESORTS WORL COM 85590a203 542 18,983 SH DEFINED 01 18983
STATE FINANCIAL SERVICES C COM 856855101 617 51,994 SH SOLE 51,994
STATE STREET CORP COM 857477103 16 200 SH DEFINED 01 200
STATE STREET CORP COM 857477103 411 5,000 SH SOLE 5000
STB SYSTEMS INC COM 784741100 1,184 151,500 SH SOLE 151,500
STRAWBRIDGE & CLOTHIER ESC COM 863200986 2 181,668 SH SOLE 181,668
SUN ENERGY PARTNERS L.P. D COM 866719107 90 20,300 SH SOLE 20,300
SUNSTRAND CORP COM 867323107 4,726 68,000 SH SOLE 68,000
SUPERIOR ENERGY SERVICE IN COM 868157108 1,042 290,000 SH SOLE 290,000
SUPERMARKETS GENERAL $3.52 COM 868446204 1,183 32,858 SH SOLE 32,858
SUPERTEL HOSPITALITY INC COM 868524109 654 67,110 SH SOLE 67,110
SUTTON RESOURCES LTD NEW COM 869474403 1,030 135,000 SH SOLE 135,000
SWISHER INTL GROUP COM 870809100 843 94,300 SH SOLE 94,300
SWISS HELVETIA FUND INC COM 870875101 788 56,000 SH DEFINED 01 02 5600 50400
SYBASE COM 871130100 100 12,600 SH SOLE 12,600
T ROWE PRICE U S TREASURY FUND COM 77957t107 176 33,269 SH DEFINED 01 33269
TELEBACKUP SYSTEMS INC COM 878927102 1,611 170,000 SH SOLE 170,000
TELEPHONE & DATA SYSTEMS INC COM 879433100 395 7,000 SH SOLE 7000
TELEPHONE & DATA SYSTEMS INC COM 879433100 1,407 24,900 SH DEFINED 01 02 7700 17200
TELETOUCH COMMUNICATIONS I COM 87951V206 36 19,000 SH SOLE 19,000
TELOS CORP 12% PFD COM 87969B200 46 14,607 SH SOLE 14,607
TERA COMPUTER CO COM 88076P108 227 31,250 SH DEFINED 01 31250
TEXAS INSTRUMENTS INC COM 882508104 60 600 SH DEFINED 02 600
TEXAS INSTRUMENTS INC COM 882508104 496 5,000 SH SOLE 5000
THERMO SENTRON INC COM 883593105 326 31,400 SH SOLE 31,400
THERMOSPECTRA CORP COM 883660102 133 13,300 SH SOLE 13,300
THERMWOOD CORP NEW COM 883672305 106 18,900 SH SOLE 18,900
TIG HOLDINGS INC COM 872469101 240 14,706 SH DEFINED 01 02 14306 400
TIG HOLDINGS INC COM 872469101 2,878 176,400 SH SOLE 176,400
TIME WARNER INC (HOLDING CO) COM 887315109 924 13,000 SH SOLE 13000
TIME WARNER INC (HOLDING CO) COM 887315109 6,275 88,300 SH DEFINED 01 02 39540 48760
TJX COMPANIES INC NEW COM 872540109 340 10,000 SH DEFINED 01 10000
TODAYS MAN INC (tman) COM 888910106 89 69,252 SH SOLE 69,252
TODD AO CORP CL A COM 888896107 117 14,800 SH DEFINED 02 14800
TORCHMARK CORP COM 891027104 275 8,700 SH DEFINED 01 02 2800 5900
TOTAL CONTAINMENT INC. COM 89149T101 302 56,110 SH SOLE 56,110
TOWER REALTY TRUST INC COM 89185E109 3,763 198,700 SH SOLE 198,700
TOWN & COUNTRY CONV 6% PFD COM 892027400 - 14,093 SH SOLE 14,093
TPI ENTERPRISES COM 872623103 5 534,249 SH SOLE 534,249
TRANSAMERICA COM 893485102 8,030 113,100 SH SOLE 113,100
TRANSCEND THERAPEUTICS INC COM 89353T102 125 97,590 SH SOLE 97,590
TRAVEL PORTS OF AMERICA IN COM 89416705 197 55,300 SH SOLE 55,300
TREADCO INC COM 894545102 301 33,900 SH SOLE 33,900
TRIARC COMPANIES INC CL A COM 895927101 2,061 118,200 SH SOLE 118,200
TRIATHLON BROADCASTING CO COM 89589P106 2,353 187,325 SH SOLE 187,325
TRIKON TECHNOLOGIES INC COM 896187994 62 624,004 SH SOLE 624,004
TRIKON TECHNOLOGIES INC PF COM 896187986 72 35,965 SH SOLE 35,965
TRION INC COM 896726106 340 104,701 SH SOLE 104,701
TRO LEARNING INC COM 87263R109 165 28,700 SH SOLE 28,700
TYCO INTERNATIONAL LTD COM 902124106 717 10,000 SH SOLE 10000
TYCO INTERNATIONAL LTD COM 902124106 3,087 43,030 SH DEFINED 01 02 11100 31930
U S HOMECARE CORP COM 911819100 - 10,000 SH DEFINED 01 10000
UDC HOMES SER C SUB NTS 0% COM 90264JAA8 - 89,940 SH SOLE 89,940
UNILEVER NV-NEW YORK SHARES COM 904784501 465 7,000 SH DEFINED 02 01 5000 2000
UNION CAMP CORP COM 905530101 19,782 294,700 SH SOLE 294,700
UNIQUE CASUAL RESTAURANT COM 90915K100 1,045 214,300 SH SOLE 214,300
UNITED STATES CELLULAR COR COM 911684108 708 16,100 SH SOLE 16,100
UNITED STATES FILTER CORP COM 911843209 7,197 235,000 SH SOLE 235,000
UNITED STATES LEATHER INC COM 912134103 280 186,536 SH SOLE 186,536
UNITED TECHNOLOGIES CORP COM 913017109 339 2,500 SH DEFINED 01 02 800 1700
UNITEL VIDEO INC COM 913253100 18 10,400 SH SOLE 10,400
UNITY BANCORP INC-DEL (unt COM 913290102 322 33,438 SH SOLE 33,438
US DIAGNOSTIC INC COM 90328Q108 40 32,000 SH SOLE 32,000
US SATELLITE BROADCASTING COM 912534104 3,914 229,400 SH SOLE 229,400
USB HOLDING CO INC COM 902910108 594 42,430 SH SOLE 42,430
VANGUARD CELLULAR SYSTEMS COM 922022108 4,886 179,700 SH SOLE 179,700
VARIAN ASSOC COM 922204102 388 10,000 SH SOLE 10,000
VERMONT FINANCIAL SRVCS COM 924180102 1,999 70,600 SH SOLE 70,600
VIACOM HOLDING CL B COM 925524308 442 5,266 SH DEFINED 01 02 283 4983
VIACOM INC COM 925524100 377 4,528 SH DEFINED 01 4528
VIDEO UPDATE INC-CL A COM 92657V104 92 108,618 SH SOLE 108,618
VISKASE COMPANIES INC COM 92831R102 296 87,700 SH SOLE 87,700
VLSI TECHNOLOGY INC COM 918270109 4,333 222,900 SH SOLE 222,900
WAL-MART STORES INC COM 931142103 447 4,850 SH DEFINED 01 4850
WAL-MART STORES INC COM 931142103 922 10,000 SH SOLE 10000
WALT DISNEY CO HOLDING CO COM 254687106 405 13,000 SH SOLE 13000
WALT DISNEY CO HOLDING CO COM 254687106 1,402 45,045 SH DEFINED 01 02 6000 39045
WASHINGTON MUTUAL INC COM 939322103 370 9,040 SH DEFINED 01 02 3360 5680
WEATHERFORD INTERNATIONAL COM 947074100 454 17,363 SH SOLE 17,363
WEATHERFORD INTERNATIONAL INC COM 947074100 1,471 56,294 SH DEFINED 01 02 19472 36822
WELLS FARGO & CO-NEW COM 949746101 561 16,000 SH DEFINED 01 16000
WESBANCO INC COM 950810101 389 12,750 SH SOLE 12,750
WESTERN RESOURCES INC COM 959425109 270 10,100 SH DEFINED 01 10100
WEYCO GROUP INC. COM 962149100 740 30,825 SH SOLE 30,825
WEYERHAEUSER CO COM 962166104 277 5,000 SH SOLE 5000
WHITTAKER CORP NEW COM 966680407 1,545 70,425 SH SOLE 70,425
WILLIAMS COMPANIES INC COM 969457100 316 8,000 SH SOLE 8000
WILLIAMS COMPANIES INC COM 969457100 1,138 28,800 SH DEFINED 01 02 5400 23400
WINSLOEW FURNITURE INC COM 975377102 1,160 38,900 SH SOLE 38,900
WM WRIGLEY JR CO COM 982526105 814 9,000 SH DEFINED 02 9000
WOOD BANCORP COM 978237105 201 11,000 SH SOLE 11,000
WORKFLOW MANAGEMENT INC COM 98137N109 153 22,846 SH SOLE 22,846
WRT CREDITORS LIQUIDATING COM 92931K965 - 126,667 SH SOLE 126,667
WRT ENERGY CORP WTS COM 92931K130 - 12,000 SH SOLE 12,000
WTS IGENE BIOTECHNOLOGY INC COM 451695142 - 131,414 SH DEFINED 01 131414
XEROX CORP COM 984121103 427 8,000 SH DEFINED 01 8000
XTRA CORP COM 984138107 950 24,800 SH SOLE 24,800
YOUTH SERVICES INTERNATION COM 987816105 150 67,300 SH SOLE 67,300
YPF SOCIEDAD ANOMIMA SPONSORED COM 984245100 253 8,000 SH SOLE 8000
YPF SOCIEDAD ANOMINA COM 984245100 4,738 150,100 SH SOLE 150,100
ZURICH SF HLDGS INC EARN O COM 98982YAB7 1,262 11,473 SH SOLE 11,473
AAMES FINCL CORP SUB DEB 5 FIXED 00253AAE1 1,900 47,500 PRN SOLE 47,500
AMERICAN TELECAST SR DISC FIXED 030151AE4 2,880 92,912 PRN SOLE 92,912
AMERICAN TELECAST SR DIST FIXED 030151AA2 273 8,274 PRN SOLE 8,274
AMERITRUCK DIST CORP 12.25 FIXED 03071XAC9 258 51,500 PRN SOLE 51,500
BANK OF NEW ENGLAND NOTE 9 FIXED 063840AC6 355 29,550 PRN SOLE 29,550
BARINGS BV - FRN 1/22/01 FIXED LU0001749 1,890 30,000 PRN SOLE 30,000
BUILDERS TRANSPORT 6.5% 5/ FIXED 120084AB4 15 15,140 PRN SOLE 15,140
BUILDERS TRANSPORT 8% 8/15 FIXED 120084AA6 13 13,260 PRN SOLE 13,260
CAI WIRELESS SYS INC SR NT FIXED 12476PAB0 512 12,420 PRN SOLE 12,420
CITYSCAPE FINCL SR NT SER FIXED 178778AF3 257 19,000 PRN SOLE 19,000
CLARIDGE HOT & CASINO 11.7 FIXED 180476AA1 1,340 21,620 PRN SOLE 21,620
COLOR TILE INC SR NT 10.75 FIXED 196267AD0 137 218,850 PRN SOLE 218,850
CS WIRELESS SYS INC 0% (11 FIXED 22942TAE1 860 21,500 PRN SOLE 21,500
DISCOVERY ZONE INC 13.5% 8 FIXED 25468BAF4 583 83,300 PRN SOLE 83,300
DISCOVERY ZONE INC SR SECD FIXED 25468BAF4 1,566 164,850 PRN SOLE 164,850
EDISON BROS STORES SR NT 1 FIXED 280875AB1 355 11,450 PRN SOLE 11,450
FARM FRESH INC SER A 12.25 FIXED 307669AE1 250 5,000 PRN SOLE 5,000
FPA MEDICAL MGMT 6.5% 12/1 FIXED 302543AD5 444 273,100 PRN SOLE 273,100
IN-FLIGHT PHONE CORP 14% 5 FIXED 45322KAC5 200 20,000 PRN SOLE 20,000
INTL SEMI TECH MICRO SR 0% FIXED 46031KAA9 992 70,870 PRN SOLE 70,870
IONICA PLC SR DISC NTS 5/1 FIXED 462213AK5 35 11,500 PRN SOLE 11,500
JAZZ CASINO CO SR NT 8% 11 FIXED 472143AA4 517 8,620 PRN SOLE 8,620
JAZZ CASINO SR CONTING NT FIXED 472143AB2 196 13,039 PRN SOLE 13,039
LEVITZ FURN CORP SR NT 13. FIXED 527480AJ6 1,678 24,320 PRN SOLE 24,320
LOMAS FINCL CORP NEW 9% 10 FIXED 5415359A0 206 27,500 PRN SOLE 27,500
LOUISIANA ST AG FIN AUTH 8 FIXED 546418AB0 - 15,000 PRN SOLE 15,000
MOBIL ENERGY SVC CO 8.665% FIXED 607358AA6 555 15,000 PRN SOLE 15,000
MOBILEMEDIA COMM SR DEFD 1 FIXED 607414AA7 306 34,000 PRN SOLE 34,000
MOBILEMEDIA CORP SR NT 11/ FIXED 607414AA7 331 28,750 PRN SOLE 28,750
OLYMPIA YORK MAID LN 10.37 FIXED 681444AA3 745 10,000 PRN SOLE 10,000
PEOPLES CHOICE TV SR DISC FIXED 710847AA2 1,125 25,000 PRN SOLE 25,000
PLASMA & MATLS TECH 7.125% FIXED 72753MAA7 300 6,000 PRN SOLE 6,000
SELLCO CORP 12% 12/15/04 ( FIXED 81641KAA8 105 83,741 PRN SOLE 83,741
SMARTALK CONV SUB NT 9/15/ FIXED 83169AAC4 714 19,830 PRN SOLE 19,830
SOUTHEAST BK CORP 10.5% 4/ FIXED 841338AD8 400 20,000 PRN SOLE 20,000
SPECIALTY FOODS ACQ CP 13% FIXED 847498AC6 225 15,000 PRN SOLE 15,000
SUNBEAM CORP CV 0% 3/25/18 FIXED 867071AA0 1,018 92,500 PRN SOLE 92,500
TRANS WORLD AIRLINE 8% 11/ FIXED 893349AV2 - 10,000 PRN SOLE 10,000
TRUMPS CASTLE 11.75% 11/15 FIXED 898178AE8 371 4,484 PRN SOLE 4,484
USN COMM SR NTS SER B 8/15 FIXED 90336NAC9 455 45,540 PRN SOLE 45,540
WIRELESS ONE INC SR 13% 10 FIXED 97652HAB5 800 25,000 PRN SOLE 25,000
WIRELESS ONE INC SR 13.5% FIXED 97652HAC3 1,250 50,000 PRN SOLE 50,000
WRT ENERGY CORP 13.875% 3/ FIXED 92931KAB2 - 15,000 PRN SOLE 15,000
AT HOME CORP MAY 160 PUT PUT 48199W9Q4 535 23,900 SH PUT SOLE 23,900
BRIT PDS BPW APR163 PUT PUT NOT AVAIL 107 42,500 SH PUT SOLE 42,500
GLOBAL CROSS JULY 035 PUT PUT G3921A9S1 491 131,000 SH PUT SOLE 131,000
PLATINUM TECH JUNE 20 PUT PUT 72764T9R4 106 106,000 SH PUT SOLE 106,000
RUSSELL 200 APRIL 400 PUT PUT 12484L9PO 287 37,000 SH PUT SOLE 37,000
RUSSELL 2000 INDEX MAY 390 PUT 12484L9Q8 100 10,000 SH PUT SOLE 10,000
WARNER LAMBERT MAY 60 PUT PUT 9344889Q2 14 10,000 SH PUT SOLE 10,000
REPORT SUMMARY 673 DATA RECORDS 846,978 2 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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