UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
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: 1838 Investment Advisors, Inc.
Address: 5 Radnor Corp. Center Suite 320
100 Matsonford Rd.
Radnor, PA 19087
Form 13F File Number: 28-__________
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. McElroy
Title: Secretary
Phone: 610-293-4300
Signature, Place, and Date of Signing:
John J. McElroy Radnor, Pa. 5/6/99
-------------------- ------------------ ------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28- ________________ ________________________________________
[Repeat as necessary.]
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<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 1
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AFLAC INC Common 00105510 665,695 14,183 X 14,183
AMR CORP. DEL Common 001765106 305,881 4,481 X 4,481
AT & T CORP Common 001957109 36,278 650 X 200 450
AT & T CORP Common 001957109 2,516,541 45,294 X 24,824 20,470
AT & T CORP - LIBERTY MEDIA -A Common 001957208 1,247,281 33,093 X 31,113 1,980
AVX CORP. NEW Common 002444107 12,895,629 516,430 X 455,905 46,900 13,625
ABB AB - ADR Common 00256Q103 258,875 19,000 X 19,000
ABBOTT LABORATORIES Common 002824100 136,125 3,000 X 600 2,400
ABBOTT LABORATORIES Common 002824100 7,680,222 170,422 X 45,932 1,200 123,290
ACCOR SA - SPONS ADR Common 00435F101 278,792 11,110 X 6,110 5,000
ADECCO S A -SPON ADR Common 006754105 304,622 4,545 X 2,545 2,000
ADVO INC. Common 007585102 7,422,948 359,362 X 312,922 37,800 8,640
AFFILIATED COMPUTER SVCS-A Common 008190100 315,242 6,227 X 6,227
AIR PRODS & CHEMS INC. Common 009158106 2,881,056 71,720 X 29,740 41,980
AIRGAS INC Common 00936310 193,550 15,800 X 15,800
ELECTROLUX AB - ADR Common 010198208 423,427 10,085 X 6,385 3,700
ALBERTSON'S INC Common 013104104 13,826,538 268,148 X 3,795 264,353
ALLIANT TECHSYSTEMS Common 01880410 4,624,290 53,460 X 53,460
ALLIED IRISH BANKS - ADR Common 019228402 272,239 9,990 X 5,490 4,500
ALLIED SIGNAL INC Common 019512102 75,600 1,200 X 300 900
ALLIED SIGNAL INC Common 019512102 1,809,227 27,617 X 14,153 8,800 5,504
ALLMERICA FINANCIAL CORP. Common 019754100 5,442,851 89,167 X 75,517 11,000 2,650
ALLSTATE CORP Common 020002101 1,453,529 40,613 X 29,903 10,710
ALLTEL CORP Common 02003910 2,234,807 31,233 X 2,443 28,790
AMERICA ONLINE INC. Common 02364J104 28,483,446 263,873 X 126,918 65,215 71,740
AMERICA ONLINE INC. Common 02364J104 550,000 5,000 X 5,000
AMERICA WEST HOLDING CORP. CL Common 023657208 6,484,126 341,273 X 298,198 35,200 7,875
AMERICAN EXPRESS CO Common 02581610 13,013 100 X 100
AMERICAN EXPRESS CO Common 02581610 844,235 5,562 X 5,281 800
AMERICAN HOME PRODUCTS CORP Common 026609107 62,709,684 1,109,967 X 501,681 236,703 371,583
AMERICAN HOME PRODUCTS CORP Common 026609107 126,110 2,198 X 2,198
AMERICAN INTERNATIONAL GROUP I Common 026874107 89,862,519 764,083 X 393,118 159,319 224,846
AMERICAN INTERNATIONAL GROUP I Common 026874107 236,728 2,019 X 730 1,289
AMERICAN POWER CONVERSION CORP Common 029066107 655,624 32,314 X 25,414 6,900
AMERICAN WOODMARK CORP Common 030506109 3,667,234 104,035 X 85,935 16,000 2,100
AMES DEPT STORES INC Common 030789507 7,183,059 159,182 X 139,137 16,100 3,945
AMERITECH CORP Common 03095410 1,300,416 17,573 X 7,913 9,660
AMGEN INC. Common 031162100 231,879 3,220 X 3,220
AMPEX CORP-CL A Common 032092108 785,906 151,500 X 1,500 150,000
ANADARKO PETE CORP Common 03251110 353,400 9,600 X 7,600 2,000
ANHEUSER BUSCH COS INC Common 035229103 1,080,200 14,979 X 2,912 12,067
APACHE CORP. Common 037411105 220,452 5,654 X 5,654
APPLIED MATERIALS INC Common 038222105 59,100 800 X 400 400
APPLIED MATERIALS INC Common 038222105 69,453,358 943,394 X 468,355 223,072 251,967
APTARGROUP INC Common 03833610 9,491,115 317,175 X 276,755 32,700 7,720
ARGENTARIA SP ADR Common 04011W108 371,398 8,075 X 4,575 3,500
ARIBA INC Common 04033V104 311,200 3,200 X 3,200
AT HOME CORP Common 045919107 257,606 4,776 X 610 4,166
ASSOCIATES FIRST CAPITAL CRP Common 046008108 114,725 2,600 X 400 2,200
</TABLE>
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<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 2
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSOCIATES FIRST CAPITAL CRP Common 046008108 78,427,287 1,809,613 X 901,633 433,264 474,716
ATLANTIC RICHFIELD COMPANY Common 048825103 66,850 800 X 800
ATLANTIC RICHFIELD COMPANY Common 048825103 3,424,007 40,647 X 13,187 27,460
AUTOMATIC DATA PROCESSING INC Common 05301510 504,844 11,684 X 4,284 7,400
AVERY DENNISON CORP. Common 053611109 104,147 1,725 X 300 1,425
AVERY DENNISON CORP. Common 053611109 74,931,826 1,228,630 X 657,238 260,490 310,902
AVON PRODUCTS INC Common 05430310 4,331,351 79,753 X 12,803 66,950
AXA-UAP ADR SPONSORED Common 054536107 348,585 5,595 X 5,595
BJ'S WHOLESALE CLUB INC Common 05548J106 10,818,181 359,165 X 316,030 36,000 7,135
BP AMOCO Common 055622104 133,889 1,234 X 317 917
BP AMOCO Common 055622104 3,220,097 29,585 X 2,750 26,835
BAKER HUGHES INC Common 057224107 217,750 6,500 X 6,500
BANCWEST CORPORATION Common 059790105 7,425 200 X 200
BANCWEST CORPORATION Common 059790105 282,150 7,600 X 700 6,900
BANK OF AMERICA CORP Common 060505104 177,636 2,423 X 1,723 700
BANK OF AMERICA CORP Common 060505104 22,910,101 314,345 X 170,421 9,344 134,580
BANK OF NEW YORK CO INC Common 06405710 58,700 1,600 X 1,600
BANK OF NEW YORK CO INC Common 06405710 164,755 4,340 X 4,340
BANK ONE CORP. Common 06423A103 946,772 16,230 X 11,827 4,403
BANKBOSTON CORPORATION Common 06605R106 274,946 5,389 X 3,389 2,000
BARNES & NOBLE Common 067774109 2,738 100 X 100
BARNES & NOBLE Common 067774109 206,175 7,600 X 600 7,000
BAXTER INTL INC Common 071813109 780,662 12,465 X 5,265 7,200
BEAVER COAL CO LTD Common 074799107 368,200 700 X 700
BELL ATLANTIC CORP Common 077853109 104,600 1,600 X 1,000 600
BELL ATLANTIC CORP Common 077853109 58,570,953 898,355 X 414,450 216,097 267,808
BELLSOUTH CORP Common 07986010 2,303,292 48,621 X 25,175 232 23,214
BELLSOUTH CORP Common 07986010 18,450 400 X 400
BENCHMARK ELECTRONICS INC Common 08160H101 5,169,036 143,712 X 121,212 20,100 2,400
BERKSHIRE HATHAWAY INC-CLB Common 084670207 67,200 30 X 30
BERKSHIRE HATHAWAY INC-CLB Common 084670207 212,749 95 X 80 15
BESTFOODS Common 08658U101 66,033 1,334 X 1,334
BESTFOODS Common 08658U101 944,106 19,132 X 11,092 8,040
BLACK BOX CORPORATION Common 091826107 7,769,125 154,995 X 135,665 16,900 2,430
E.W. BLANCH HOLDINGS INC Common 093210102 1,496,063 22,103 X 21,303 800
BOEING CO. Common 097023105 44,000 1,000 X 1,000
BOEING CO. Common 097023105 444,941 10,839 X 1,629 8,400
BRANDYWINE REALTY TRUST Common 105368203 4,482,969 227,732 X 202,382 18,900 6,450
BRISTOL MYERS SQUIBB CO Common 110122108 253,575 3,600 X 1,800 1,800
BRISTOL MYERS SQUIBB CO Common 110122108 5,076,507 72,178 X 22,064 50,114
BUCKEYE TECHNOLOGIES INC. Common 118255108 7,833,509 512,545 X 455,550 43,900 13,095
BUILDING MATERIALS HOLDING COR Common 120113105 5,479,105 478,312 X 423,557 43,000 11,755
BURLINGTON NORTHN SANTA FE Common 12189T104 418,325 13,306 X 4,671 4,420 4,215
BURNHAM FUND INC Common 122295108 31,713 840 X 840
BURNHAM FUND INC Common 122295108 213,875 5,666 X 5,666
BURR BROWN CORP. Common 122574106 7,150,138 195,145 X 169,093 21,200 4,852
CBS CORP. Common 12490K107 216,712 4,910 X 1,810 3,100
CIGNA CORP. Common 125509109 1,459,720 16,425 X 9,014 7,411
C.I.T GROUP INC - A Common 125577106 579,503 19,995 X 14,995 5,000
CNA SURETY CORP Common 12612L108 6,312,869 412,168 X 355,268 47,100 9,800
</TABLE>
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<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 3
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CAL DIVE INTERNATIONAL INC Common 127914109 3,471,475 116,200 X 97,600 16,300 2,300
CALPINE CORP. Common 131347106 336,470 5,985 X 5,385 600
CAMPBELL SOUP CO Common 13442910 421,718 9,112 X 1,768 7,344
CARNIVAL CRUISE LINES INC. Common 143658102 80,776,542 1,665,923 X 887,399 329,971 448,553
CARNIVAL CRUISE LINES INC. Common 143658102 29,100 600 X 600
CAROLINA PWR & LT CO. Common 144141108 378,237 8,835 X 835 8,000
CASEYS GENERAL STORES INC. Common 147528103 495,870 33,100 X 23,700 9,400
CATERPILLAR INC Common 149123101 24,000 400 X 400
CATERPILLAR INC Common 149123101 1,476,732 24,605 X 4,576 20,029
CENTRAL GARDEN & PET CO. Common 153527106 4,333,233 428,605 X 373,865 43,500 11,240
CHASE MANHATTAN CORP Common 16161A108 1,824,415 21,216 X 6,616 14,600
CHELSEA G C A REALTY INC. Common 163262108 6,243,580 169,430 X 147,690 17,600 4,140
CHEVRON CORPORATION Common 166751107 28,519 300 X 300
CHEVRON CORPORATION Common 166751107 69,959,892 741,107 X 357,737 167,985 215,385
CHINA TELECOM HONG KONG LTD. A Common 169428109 318,504 5,585 X 5,585
CHITTENDEN CORP Common 170228100 6,994,344 225,095 X 197,296 21,807 5,992
CHUBB CORP. Common 171232101 578,964 8,490 X 4,490 4,000
CHUBB CORP. Common 171232101 69,500 1,000 X 1,000
CISCO SYSTEMS INC Common 17275R102 247,311 3,838 X 1,274 2,564
CISCO SYSTEMS INC Common 17275R102 130,736,749 2,039,619 X 1,075,713 415,262 548,644
CITIGROUP INC Common 172967101 305,853 6,439 X 4,650 1,789
CITIGROUP INC Common 172967101 161,707,719 3,407,543 X 1,763,641 696,802 947,101
CLAIRES STORES INC. Common 179584107 6,192,830 240,866 X 209,136 26,500 5,230
CLOROX COMPANY Common 189054109 1,696,015 15,829 X 741 15,088
CLOSURE MEDICAL CORP Common 189093107 300,000 10,000 X 10,000
COACHMEN INDUSTRIES INC. Common 189873102 7,287,812 318,871 X 281,796 28,600 8,475
COASTAL CORP Common 19044110 259,026 6,566 X 6,566
COCA COLA CO. Common 191216100 43,400 700 X 700
COCA COLA CO. Common 191216100 12,775,491 205,973 X 99,331 106,642
COLGATE-PALMOLIVE CO Common 194162103 19,700 200 X 200
COLGATE-PALMOLIVE CO Common 194162103 615,592 8,076 X 6,476 600 1,000
COLONIAL BANCGROUP Common 195493309 1,465,433 105,140 X 75,540 26,200 3,400
COMCAST CORP CL A SPL Common 20030020 9,199,632 239,316 X 22,916 216,400
COMERICA INC Common 20034010 11,888 200 X 200
COMERICA INC Common 20034010 394,960 6,645 X 6,045 600
COMPAQ COMPUTER CORP COM Common 204493100 804,570 33,023 X 21,190 16,598
COMPUTER ASSOC INTL INC Common 204912109 37,011 676 X 676
COMPUTER ASSOC INTL INC Common 204912109 2,097,350 38,850 X 19,057 2,587 17,206
CONRAD INDUSTRIES INC Common 208305102 75,000 15,000 X 15,000
CORNING INC. Common 219350105 290,869 4,145 X 2,345 1,800
COSTCO COS. INC. Common 22160Q102 752,824 9,769 X 9,769
COUNTRYWIDE CREDIT INDUSTRIES Common 222372104 912,451 21,423 X 21,423
COVENTRY CORPORATION Common 222862104 5,943,314 541,205 X 472,250 55,600 13,355
DII GROUP INC. Common 232949107 5,130,009 136,932 X 112,822 19,800 4,310
D. R. HORTON INC. Common 23331A109 6,984,310 421,273 X 367,818 42,900 10,555
DANAHER CORP Common 235851102 446,448 7,671 X 7,671
DAYTON HUDSON CORP. Common 239753106 342,925 5,118 X 5,118
DEERE & COMPANY Common 24419910 411,579 10,502 X 502 10,000
DEL GLOBAL TECHNOLOGIES CORP Common 245073101 3,068,959 314,765 X 264,265 43,900 6,600
DELCO REMY INTL INC Common 246626105 341,000 31,000 X 23,700 6,400 900
</TABLE>
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<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 4
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DELL COMPUTER CORP. Common 247025109 57,528,230 1,515,326 X 737,715 367,231 410,380
DIAL CORP. NEW Common 25247D101 211,794 6,580 X 6,580
DIME COMMUNITY BANCORP INC Common 253922108 7,022,831 302,177 X 259,137 34,600 8,440
DISNEY WALT CO Common 254687106 77,956 2,530 X 2,530
DISNEY WALT CO Common 254687106 698,521 23,023 X 13,321 9,702
DOMINION RESOURCES INC VA Common 25747010 395,616 9,134 X 150 8,984
DOW CHEMICAL CO Common 260543103 57,094 450 X 450
DOW CHEMICAL CO Common 260543103 2,017,047 15,941 X 11,930 2,661
E I DUPONT DE NEMOURS & CO Common 263534109 68,313 1,000 X 200 800
E I DUPONT DE NEMOURS & CO Common 263534109 68,969,377 1,002,800 X 482,226 187,745 332,829
DUKE ENERGY CORP Common 264399106 302,137 5,450 X 3,326 2,124
E M C CORP. Common 268648102 82,500 1,500 X 1,500
E M C CORP. Common 268648102 79,921,295 1,417,638 X 755,261 301,222 361,155
EARTHGRAINS CO. Common 270319106 330,233 12,706 X 12,306 400
EASTMAN KODAK CO Common 277461109 46,341 684 X 684
EASTMAN KODAK CO Common 277461109 1,430,230 21,021 X 8,884 12,137
EDISON INTL. Common 281020107 534,887 20,000 X 3,200 16,800
ELECTRONIC DATA SYSTEM CORP. Common 285661104 445,249 7,681 X 2,400 5,281
EMERSON ELEC CO. Common 291011104 88,113 1,400 X 1,200 200
EMERSON ELEC CO. Common 291011104 1,407,817 22,404 X 6,008 16,396
EMPIRE OF CAROLINA Common 292007101 25,000 50,000 X 50,000
ENDESA-SPONSORED ADR(EMPRESA Common 29258N107 34,000 1,600 X 1,600
ENDESA-SPONSORED ADR(EMPRESA Common 29258N107 232,405 10,940 X 5,340 5,600
ENGLE HOMES INC Common 292896107 2,183,775 158,820 X 133,620 21,900 3,300
ENRON CORP Common 29356110 65,400 800 X 800
ENRON CORP Common 29356110 1,111,532 13,422 X 6,925 6,497
EQUIFAX INC Common 29442910 933,656 26,162 X 1,250 24,912
L.M. ERICSSON TEL SEK 10B Common 29482140 16,469 500 X 500
L.M. ERICSSON TEL SEK 10B Common 29482140 1,624,007 49,560 X 13,400 36,160
EVEREST REINSURANCE HOLDINGS I Common 299808105 9,415,625 287,640 X 252,070 28,500 7,070
EXXON CORP Common 302290101 787,601 10,212 X 1,000 9,212
EXXON CORP Common 302290101 31,523,395 408,387 X 193,543 8,000 206,844
FPIC INS GROUP INC Common 302563101 4,323,775 89,150 X 74,650 12,800 1,700
FPL GROUP INC. Common 302571104 35,561 651 X 651
FPL GROUP INC. Common 302571104 604,798 11,065 X 1,525 9,540
FACTSET RESEARCH SYSTEMS Common 303075105 252,111 4,545 X 4,545
FDX CORPORATION Common 31304N107 267,865 5,540 X 3,940 1,600
FEDDERS CORP. CL A Common 313135303 3,391,951 551,806 X 488,896 48,500 14,410
FEDERAL HOME LOAN MORTGAGE COR Common 313400301 937,873 15,894 X 15,894
FANNIE MAE Common 313586109 1,941,984 28,303 X 11,142 17,161
FEDERATED MAX CAP FUND Common 31420E10 6,112,387 227,395 X 227,395
FIFTH THIRD BANCORP Common 316773100 30,869,319 460,674 X 237,009 106,305 117,360
FINISH LINE INC. CL A Common 317923100 4,528,160 402,998 X 353,018 40,500 9,480
FIRST DATA CORP Common 319963104 275,659 5,485 X 5,485
FIRST TENNESSEE NATL CORP Common 337162101 508,027 13,430 X 12,330 1,100
FIRST UN CORP. Common 337358105 174,787 3,709 X 1,675 2,034
FIRST UN CORP. Common 337358105 5,702,669 120,977 X 48,208 72,769
FIRSTAR CORP Common 33763V109 72,520 2,590 X 390 2,200
FIRSTAR CORP Common 33763V109 4,503,618 165,071 X 122,626 1,200 41,245
FLEET FINANCIAL GROUP INC Common 338915101 83,958 1,892 X 1,892
FLEET FINANCIAL GROUP INC Common 338915101 240,428 5,551 X 5,551
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 5
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
FORD MOTOR CO. Common 345370100 67,006,470 1,200,016 X 600,102 288,715 311,199
FRANKLIN RESOURCES INC Common 354613101 207,219 5,200 X 4,300 900
FURNITURE BRANDS INTL INC. Common 360921100 9,989,934 359,259 X 314,994 35,000 9,265
GRG INC Common 36225R103 20,625 20,000 X 20,000
GTE CORP. Common 362320103 198,339 2,627 X 650 1,977
GTE CORP. Common 362320103 5,930,709 78,683 X 20,339 5,000 53,344
GT INTERACTIVE SOFTWARE CORP Common 36236E109 2,224,464 652,247 X 579,702 53,700 18,845
GALILEO INTERNATIONAL INC Common 363547100 290,675 5,495 X 5,495
GANNETT INC. DEL Common 364730101 711,885 9,825 X 6,025 3,800
GANNETT INC. DEL Common 364730101 21,413 300 X 300
GAP INC. Common 364760108 50,980 1,012 X 1,012
GAP INC. Common 364760108 224,965 4,558 X 1,858 2,700
GENERAL CABLE CORP Common 369300108 8,008,113 498,749 X 438,124 47,800 12,825
GENERAL ELECTRIC CO Common 369604103 746,930 6,610 X 3,760 2,850
GENERAL ELECTRIC CO Common 369604103 151,085,182 1,330,926 X 654,751 196,632 479,543
GENERAL GROWTH PROP Common 370021107 149,100 4,200 X 1,200 3,000
GENERAL GROWTH PROP Common 370021107 1,342,930 37,829 X 7,020 600 30,209
GENERAL MILLS INC Common 37033410 16,075 200 X 200
GENERAL MILLS INC Common 37033410 590,230 7,288 X 1,220 6,068
GENERAL MOTORS CORP Common 370442105 19,744 299 X 299
GENERAL MOTORS CORP Common 370442105 773,792 11,716 X 5,616 6,100
GILLETTE COMPANY Common 375766102 29,602 722 X 722
GILLETTE COMPANY Common 375766102 57,033,526 1,359,294 X 679,251 294,517 385,526
GLAXO WELCOME PLC Common 37733W105 28,313 500 X 500
GLAXO WELCOME PLC Common 37733W105 535,889 9,476 X 5,276 4,200
GULFSTREAM AEROSPACE CORP. Common 402734107 266,345 3,945 X 3,945
HCC INSURANCE HOLDINGS INC Common 404132102 9,319,846 408,963 X 358,028 41,100 9,835
HSB GROUP INC Common 40428N109 494,250 12,000 X 12,000
HALLIBURTON CO Common 406216101 469,794 10,397 X 397 10,000
HANCOCK HOLDING CO Common 410120109 381,438 8,500 X 8,500
HARLEYSVILLE GROUP INC Common 412824104 4,013,490 195,780 X 163,980 27,900 3,900
HARRAH'S ENTERTAINMENT INC Common 413619107 9,122,764 414,441 X 366,926 41,300 6,215
HARSCO CORP. Common 415864107 211,513 7,373 X 7,373
HARTFORD MUTUAL INVESTMENT FUND Common 41599810 5,401,524 84,412 X 84,412
HEALTH CARE PPTY INVS INC Common 42191510 513,051 17,768 X 550 17,218
HEALTH CARE PPTY INVS INC Common 42191510 37,538 1,300 X 500 800
HEALTHSOUTH CORP. Common 421924101 2,975 200 X 200
HEALTHSOUTH CORP. Common 421924101 197,829 13,370 X 600 12,770
HEALTHCARE REALTY TRUST INC Common 421946104 2,234,708 105,785 X 86,685 16,600 2,500
HEINZ H J CO. Common 423074103 32,581 650 X 650
HEINZ H J CO. Common 423074103 3,669,100 73,217 X 6,702 66,515
HELLER FINANCIAL INC Common 423328103 9,989,385 360,130 X 315,340 35,900 8,890
HENKEL KGAA-SPONS ADR Common 42550U109 210,628 3,460 X 3,460
HERSHEY FOOD CORP Common 42786610 783,132 13,185 X 885 12,300
HEWLETT-PACKARD CO Common 428236103 3,943,903 38,899 X 14,299 24,600
HOLOPHANE CORP Common 43645B106 6,189,855 162,282 X 139,831 18,250 4,201
HOME DEPOT INC Common 437076102 212,644 3,300 X 3,300
HOME DEPOT INC Common 437076102 13,053,008 204,475 X 134,584 11,740 58,151
HONDA MTR LTD. ADR 10 ORD Common 438128308 219,474 2,530 X 2,530
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 6
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
HONEYWELL INC Common 438506107 661,763 5,655 X 2,455 3,200
HOUSEHOLD INTL. INC. Common 441815107 870,538 18,480 X 4,580 13,900
IMS HEALTH INC. Common 449934108 474,813 15,402 X 2,600 12,802
ILLINOIS TOOL WORKS INC. Common 452308109 71,680,669 890,950 X 440,828 209,952 240,170
INDIGO AVIATION AB-SPON ADR Common 45567P104 1,220,789 184,270 X 152,870 27,300 4,100
INFOSEEK CORP Common 45678M107 239,688 5,000 X 5,000
ING GROEP N. V. ADR Common 456837103 457,103 8,313 X 6,974 1,339
INGERSOLL-RAND CO Common 45686610 19,388 300 X 300
INGERSOLL-RAND CO Common 45686610 496,907 7,848 X 6,573 1,275
INTEL CORP Common 458140100 136,850 2,300 X 700 1,600
INTEL CORP Common 458140100 119,392,105 1,959,189 X 915,409 316,210 727,570
I B M Common 459200101 361,383 2,796 X 2,796
I B M Common 459200101 18,450,001 143,210 X 86,900 56,310
INTERNATIONAL RECTIFIER CORP. Common 460254105 281,875 22,000 X 22,000
INTERPUBLIC GROUP COS. INC. Common 460690100 66,267,784 930,073 X 541,177 173,866 215,030
IPALCO ENTERPRISES INC. Common 462613100 417,386 19,666 X 1,266 18,400
IVEX PACKAGING CORP Common 465855104 5,121,050 232,775 X 194,975 33,500 4,300
JEFFERSON-PILOT CORP Common 47507010 3,122,594 47,178 X 47,178
JOHNSON & JOHNSON Common 478160104 23,725,538 242,253 X 133,900 6,300 102,053
JOHNSON CONTROLS INC. Common 478366107 335,950 4,800 X 4,000 800
KAO CORP - ADR Common 485537203 314,359 1,120 X 1,120
KELLOGG COMPANY Common 48783610 475,200 14,400 X 14,400
KEYCORP NEW Common 493267108 1,433,096 44,610 X 6,010 38,600
KIMBERLY-CLARK CORP Common 494368103 1,718,099 29,895 X 14,959 14,936
KINDER MORGAN EGY PTNS L P UT Common 494550106 11,100 300 X 300
KINDER MORGAN EGY PTNS L P UT Common 494550106 269,053 7,260 X 910 6,350
KOALA CORP Common 499866101 856,000 32,000 X 25,700 5,500 800
KONINKLIJKE PHILIPS ELECTRS AD Common 500472204 504,934 5,009 X 3,813 1,196
ESTEE LAUDER COMPANIES - CL A Common 518439104 123,308 2,460 X 500 1,960
ESTEE LAUDER COMPANIES - CL A Common 518439104 83,587,183 1,674,759 X 864,293 378,356 432,110
LEXMARK INTERNATIONAL GROUP IN Common 529771107 1,455,625 22,270 X 13,570 8,700
LILLY, ELI & COMPANY Common 532457108 1,458,004 20,589 X 5,589 15,000
LINCARE HOLDINGS INC. Common 532791100 496,036 19,385 X 12,885 6,500
LINEAR TECHNOLOGY CORP. Common 535678106 388,018 5,795 X 5,795
LONE STAR Common 542290408 5,523,378 142,045 X 121,445 18,000 2,600
LUCENT TECHNOLOGIES INC. Common 549463107 96,031 1,424 X 328 1,096
LUCENT TECHNOLOGIES INC. Common 549463107 11,982,248 177,775 X 119,383 58,392
M B N A CORP. Common 55262L100 243,532 8,143 X 8,143
MCI WORLDCOM INC Common 55268B106 146,306 1,700 X 600 1,100
MCI WORLDCOM INC Common 55268B106 147,270,936 1,704,656 X 878,963 361,978 463,715
MARSH & MCLENNAN COS INC Common 57174810 725,381 9,505 X 1,555 7,950
MATTEL INC Common 577081102 23,434 897 X 897
MATTEL INC Common 577081102 2,248,237 86,182 X 22,216 63,966
MAY DEPARTMENT STORES CO Common 577778103 257,889 6,379 X 5,629 750
MCDONALDS CORP Common 580135101 57,575 1,400 X 1,000 400
MCDONALDS CORP Common 580135101 64,654,498 1,564,165 X 762,009 351,010 451,146
MCGRAW-HILL INC Common 58064510 250,499 4,764 X 3,964 800
MEAD CORPORATION Common 582834107 599,909 14,350 X 14,350
MEDIA ONE GROUP,INC Common 58440J104 1,284,447 17,295 X 5,663 11,632
MEDTRONIC INC. Common 585055106 110,972 1,425 X 425 1,000
MEDTRONIC INC. Common 585055106 102,063,351 1,326,968 X 662,084 290,800 374,084
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 7
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
MELLON BANK CORP Common 585509102 756,796 20,844 X 19,404 1,440
MERCK & CO INC Common 589331107 404,938 5,500 X 1,900 3,600
MERCK & CO INC Common 589331107 116,794,318 1,601,923 X 688,174 206,588 707,161
MERRILL LYNCH & CO INC Common 59018810 921,669 11,668 X 5,168 6,500
MICROSOFT CORP Common 594918104 915,403 10,150 X 10,150
MICROSOFT CORP Common 594918104 146,621,809 1,631,032 X 815,210 362,230 453,592
MILLENNIUM BANK Common 60036L105 215,000 20,000 X 20,000
HERMAN MILLER Common 600544100 360,923 16,810 X 16,310 500
MINEBEA CO LTD - ADR Common 602725301 226,643 10,160 X 10,160
MINNESOTA MINING & Common 60405910 2,382,874 27,355 X 13,587 13,768
MOBIL CORP Common 607059102 113,340,718 1,144,614 X 582,972 241,088 320,554
MOBIL CORP Common 607059102 195,920 1,984 X 1,984
MONSANTO CO. Common 611662107 1,504,154 37,940 X 20,010 17,930
MONSANTO CO. Common 611662107 131,862 3,333 X 3,333
MORGAN J.P. & CO. INC. Common 616880100 3,084,694 21,956 X 225 21,731
MORGAN STANLEY DEAN WITTER Common 617446448 31,609 308 X 308
MORGAN STANLEY DEAN WITTER Common 617446448 1,912,774 18,821 X 9,113 9,708
MOTOROLA INC Common 620076109 1,379,588 14,648 X 6,848 7,800
MUTUAL INVESTMENT FUND CT Common 62799910 4,463,247 111,386 X 111,386
NATIONAL CITY CORP Common 635405103 2,197,537 36,309 X 20,909 15,400
NESTLE S A REP RG SH ADR Common 641069406 234,229 2,600 X 200 2,400
NEW JERSEY RESOURCES CORP Common 64602510 643,925 17,200 X 17,200
NEWPORT NEWS SHIPBUILDING INC. Common 652228107 637,030 20,082 X 19,982 100
NISOURCE INC Common 65473P105 747,789 28,933 X 7,770 21,163
NOKIA CORP - ADR Common 654902204 806,073 8,810 X 5,210 3,600
NORFOLK SOUTHERN CORP Common 65584410 1,926,644 63,955 X 62,700 1,255
O CHARLEYS INC. Common 670823103 3,751,484 234,790 X 197,690 29,300 7,800
OAK INDUSTRIES INC. Common 671400505 8,470,755 193,415 X 172,132 15,800 5,483
OCEANEERING INTERNATIONAL Common 675232102 2,037,671 125,815 X 120,420 5,395
OFFICE DEPOT INC Common 676220106 286,660 13,254 X 3,254 10,000
PROTOCOM DEVICES INC. Common 6807B 87,435 130,500 X 130,500
ORACLE SYSTEMS CORP Common 68389X10 309,066 8,325 X 8,325
ORACLE SYSTEMS CORP Common 68389X10 264,764 7,135 X 3,160 3,975
PECO ENERGY CO Common 69330410 391,615 9,352 X 9,352
P G & E Corporation Common 69331C108 213,737 6,600 X 2,800 3,800
P M C - SIERRA INC. Common 69344F106 705,341 11,621 X 8,121 3,500
PNC BANK CORP Common 693475105 1,274,848 22,190 X 3,792 18,398
P P & L RESOURCES INC. Common 693499105 230,625 7,500 X 7,500
PPG INDS INC. Common 693506107 29,531 500 X 500
PPG INDS INC. Common 693506107 1,782,925 30,183 X 20,781 9,402
PACIFIC GULF PPTYS INC. Common 694396102 2,876,788 127,155 X 105,255 19,300 2,600
PARAMETRIC TECHNOLOGY CORP Common 699173100 187,012 13,450 X 450 13,000
PARKER-HANNIFIN CORP Common 701094104 237,264 5,197 X 5,197
PEARSON PLC ADR SPONSORED Common 705015105 443,171 21,920 X 13,120 8,800
PENN TREATY AMER CORP Common 707874103 3,637,002 151,553 X 131,028 17,000 3,525
PEOPLES ENERGY CORP Common 71103010 493,706 13,100 X 13,100
PEOPLESOFT INC. Common 712713106 414,000 24,000 X 24,000
PEPSICO INC Common 713448108 208,913 5,400 X 1,200 4,200
PEPSICO INC Common 713448108 15,747,971 406,326 X 213,387 5,939 187,000
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 8
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
PHARMACIA & UPJOHN INC Common 71694110 55,485,247 973,199 X 476,674 230,675 265,850
PFIZER INC. Common 717081103 32,700 300 X 300
PFIZER INC. Common 717081103 29,767,356 319,641 X 150,758 1,600 167,283
PHILIP MORRIS COS. INS Common 718154107 9,412,710 234,643 X 117,128 117,515
PHILIP MORRIS COS. INS Common 718154107 24,113 600 X 600
PHOTRONICS INC. Common 719405102 1,415,740 57,060 X 54,610 2,450
PIEDMONT NATURAL GAS INC Common 72018610 301,913 9,700 X 9,700
PIER 1 IMPORTS INC Common 720279108 10,103,373 909,255 X 794,115 91,600 23,540
PROPERTY OF 125 SOUTH 18TH ST Common 73999010 350,000 1 X 1
PRICE (T. ROWE) ASSOCIATES Common 741477103 230,250 6,000 X 200 800 5,000
PROCTER & GAMBLE CO Common 742718109 83,457,000 937,296 X 440,849 195,743 300,704
PROCTER & GAMBLE CO Common 742718109 62,475 700 X 500 200
PROVIDIAN FINL CORP. Common 74406A102 218,250 2,250 X 2,250
QUAKER OATS CO Common 74740210 86,288 1,300 X 500 800
QUAKER OATS CO Common 74740210 120,069 1,800 X 1,000 800
QUANEX CORP Common 747620102 6,956,429 245,287 X 213,232 26,000 6,055
RALSTON PURINA GROUP Common 751277302 1,708,317 56,409 X 44,429 11,980
RALSTON PURINA GROUP Common 751277302 62,914 2,067 X 2,067
RARE HOSPITALITY INTL INC Common 753820109 4,260,413 167,075 X 140,275 23,700 3,100
RAYTHEON CO-CLASS B Common 755111408 524,690 7,430 X 400 7,030
RAYTHEON CO-CLASS B Common 755111408 56,400 800 X 800
RECKSON ASSOCIATION Common 75621K106 1,190,649 51,294 X 49,074 2,220
RELIANT ENERGY INC Common 75952J108 1,271,413 46,024 X 46,000 24
REPSOL S A SPONSORED ADR Common 76026T20 442,748 21,795 X 14,595 7,200
RIGGS NATL CORP. WASH D C Common 766570105 3,539,995 172,158 X 141,458 27,300 3,400
ROCHE HLDG LTD SPONSORED ADR Common 771195104 352,780 3,430 X 2,230 1,200
ROHM & HAAS CO Common 775371107 2,055,943 47,952 X 31,732 16,220
ROLLINS TRUCK LEASING CORP Common 775741101 7,718,660 694,701 X 607,154 70,500 17,047
ROYAL DUTCH PETRO CO-NY SHARES Common 780257804 72,300 1,200 X 1,200
ROYAL DUTCH PETRO CO-NY SHARES Common 780257804 2,061,943 34,400 X 9,970 24,430
RUDDICK CORP Common 781258108 9,343,629 467,723 X 409,163 45,900 12,660
SBC COMMUNICATIONS INC Common 78387G103 87,928 1,516 X 1,516
SBC COMMUNICATIONS INC Common 78387G103 121,060,603 2,085,896 X 1,042,164 482,526 561,206
SCI SYSTEMS INC Common 783890106 598,042 12,330 X 8,030 4,300
KOREA MOBILE TELECOM Common 78440P108 182,142 10,762 X 10,762
SABRE GROUP HOLDINGS Common 785905100 395,670 5,940 X 5,940
SAFEWAY INC Common 786514208 69,300 1,400 X 400 1,000
SAFEWAY INC Common 786514208 65,662,060 1,291,946 X 666,807 274,901 356,238
SAP AG ADR SPONS PREF Common 803054204 470,851 13,600 X 5,300 8,300
SARA LEE CORP. Common 803111103 3,688,035 162,652 X 115,652 47,000
SCHERING PLOUGH CORP. Common 806605101 341,880 6,512 X 2,456 4,056
SCHERING PLOUGH CORP. Common 806605101 70,813,613 1,359,514 X 645,575 263,159 450,780
SCHLUMBERGER LTD Common 806857108 165,333 2,596 X 1,598 998
SCHLUMBERGER LTD Common 806857108 53,146,729 845,413 X 414,484 181,793 249,136
SCHWAB (CHARLES) CORP Common 808513105 1,122,088 10,462 X 988 574 8,900
SEA CONTAINERS LTD. CL A Common 811371707 8,413,543 251,376 X 218,306 27,000 6,070
SEACOR SMIT INC Common 811904101 8,525,145 160,499 X 140,429 16,000 4,070
SEARS ROEBUCK & CO Common 81238710 468,135 10,512 X 7,680 2,832
SEARS ROEBUCK & CO Common 81238710 17,602 395 X 395
SEMPRA ENERGY Common 816851109 272,179 12,030 X 12,030
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 9
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SEVEN SEAS PETROLEUM INC Common 817917107 33,000 12,000 X 12,000
SHAW INDUSTRIES INC. Common 820286102 530,169 28,659 X 28,659
SHOREWOOD PACKAGING CORP. Common 825229107 3,793,846 206,485 X 194,457 6,600 5,428
SILGAN HOLDINGS INC. Common 827048109 203,289 10,130 X 10,130
SMITHFIELD FOODS INC. Common 832248108 14,475,218 435,266 X 380,411 44,100 10,755
SMITHKLINE BEECHAM PLC ADR Common 832378301 1,386,689 21,695 X 12,495 9,200
SMITHKLINE BEECHAM PLC ADR Common 832378301 140,053 2,120 X 860 1,260
SOCIETE GENERALE-SPONS ADR Common 83364L109 284,345 8,070 X 4,070 4,000
SOLECTRON CORP. Common 834182107 249,837 3,789 X 3,789
SOUTHDOWN INC. Common 841297104 2,643,148 41,788 X 40,063 1,725
SOUTHERN CO. Common 842587107 21,200 800 X 500 300
SOUTHERN CO. Common 842587107 613,099 23,001 X 4,883 18,118
SOUTHTRUST CORP Common 844730101 202,634 5,285 X 285 5,000
SOVEREIGN BANCORP INC. Common 845905108 335,870 27,491 X 27,491
SOVEREIGN BANCORP INC. Common 845905108 23,571 1,944 X 1,944
SPRINT CORP. Common 852061100 53,000 1,000 X 1,000
SPRINT CORP. Common 852061100 70,144,762 1,336,499 X 719,120 263,994 353,385
SPRINT GROUP (PCS GROUP) Common 852061506 11,400 200 X 200
SPRINT GROUP (PCS GROUP) Common 852061506 2,473,716 43,339 X 26,265 17,074
STAPLES INC Common 855030102 91,266 2,950 X 2,950
STAPLES INC Common 855030102 70,278,587 2,284,835 X 1,091,465 527,295 666,075
STATE AUTO FINANCIAL CORP. Common 855707105 4,129,123 310,384 X 271,775 31,600 7,009
STATE STREET CORP. Common 857477103 66,983,100 810,965 X 413,985 185,305 211,675
STERLING SOFTWARE INC. Common 859547101 6,248,474 236,933 X 205,443 25,600 5,890
SUMMIT BANCORP Common 86600510 321,972 8,377 X 8,377
SUN MICROSYSTEMS INC Common 866810104 71,212,186 1,026,484 X 516,896 244,195 265,393
SUNTRUST BKS INC. Common 867914103 1,452,459 20,924 X 168 20,756
SWIFT TRANSPORTATION CO. Common 870756103 258,527 11,660 X 11,660
SYLVAN INC. Common 871371100 3,322,098 285,954 X 237,414 37,300 11,240
SYMANTEC CORP. Common 871503108 12,553,136 486,529 X 427,294 46,500 12,735
TDK CORP. ADR Common 872351408 299,478 3,250 X 3,250
TJX COMPANIES INC. Common 87254010 312,732 9,482 X 9,482
T R W INCORPORATED Common 87264910 201,213 3,660 X 2,660 1,000
TELECOM ITALIA SPA-ADR Common 87927W106 270,179 2,570 X 1,570 1,000
TELEFLEX INC. Common 879369106 547,625 12,580 X 2,380 10,200
TELEFONICA SA Common 879382208 90,629 616 X 616
TELEFONICA SA Common 879382208 462,733 3,204 X 1,878 1,326
TEVA PHARM INDS. ADR Common 88162420 617,400 12,600 X 12,600
TEXACO INC Common 88169410 59,256 950 X 200 750
TEXACO INC Common 88169410 8,098,317 129,929 X 69,117 2,400 58,412
TEXAS INSTRUMENTS INC Common 882508104 244,800 1,700 X 300 1,400
TEXAS INSTRUMENTS INC Common 882508104 70,806,702 489,312 X 246,510 110,769 135,033
THOMAS & BETTS CORP Common 884315102 255,150 5,400 X 3,800 1,600
3COM CORP Common 885535104 9,341 350 X 350
3COM CORP Common 885535104 293,600 11,042 X 542 10,500
TIME WARNER INC. Common 887315109 804,262 11,011 X 6,318 4,693
TOLL BROTHERS INC. Common 889478103 5,402,703 251,383 X 219,163 25,900 6,320
TRICON GLOBAL RESTAURANTS,INC. Common 895953107 1,623,536 30,155 X 16,805 680 12,670
TRIGON HEALTHCARE INC. Common 89618L100 8,128,170 223,997 X 198,787 19,300 5,910
TROPICAL SPORTSWEAR INTL Common 89708P102 8,346,788 261,860 X 219,860 37,200 4,800
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F 06/30/99
REPORTING MANAGER: 1838 INVESTMENT ADVISORS PAGE 10
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
TYCO INTERNATIONAL LTD Common 902124106 28,425 300 X 300
TYCO INTERNATIONAL LTD Common 902124106 69,333,405 725,589 X 362,463 175,645 187,481
UCAR INTL. INC. Common 90262K109 7,188,850 283,366 X 246,896 29,500 6,970
U.S. CAN CORP. Common 90328W105 7,937,453 357,072 X 316,902 30,300 9,870
UNIFI INC. Common 904677101 13,193,904 626,793 X 544,083 67,500 15,210
UNILEVER NV Common 904784709 880,663 12,595 X 7,239 5,356
UNION PAC CORP. Common 907818108 681,272 11,750 X 2,400 9,350
UNITED COMPANIES FINANCIAL Common 909870107 2,000 20,000 X 20,000
UNITED RENTALS INC Common 911363109 506,633 17,155 X 12,405 4,750
UNITED SECURITY BANCORP Common 91146A10 630,877 48,529 X 48,529
US WEST INC. Common 91273H101 1,878,255 32,070 X 8,322 23,748
UNITED STATIONERS INC Common 913004107 4,812,438 216,846 X 189,536 21,900 5,410
UNITED TECHNOLOGIES CORP Common 91301710 230,256 3,198 X 3,198
UNITED TECHNOLOGIES CORP Common 91301710 1,378,023 19,852 X 17,507 2,345
VF CORPORATION Common 91820410 94,050 2,200 X 1,000 1,200
VF CORPORATION Common 91820410 133,006 3,320 X 3,320
VALASSIS COMMUNICATIONS INC Common 918866104 5,508,709 149,989 X 132,114 15,650 2,225
VELCRO INDS NV Common 922571104 4,465,638 368,300 X 314,300 47,000 7,000
VODAFONE GROUP PLC ADR Common 92857T10 3,312,278 16,523 X 6,265 10,258
VODAFONE GROUP PLC ADR Common 92857T10 29,550 150 X 150
WICOR INC Common 92925310 368,775 13,200 X 258,943 159,156 213,164
WPP GROUP PLC SPONS ADR Common 929309300 240,100 2,800 X 2,800
WAL-MART STORES Common 931142103 48,250 1,000 X 1,000
WAL-MART STORES Common 931142103 80,194,464 1,674,681 X 890,152 365,198 429,331
WARNER-LAMBERT CO Common 934488107 10,369 150 X 75 75
WARNER-LAMBERT CO Common 934488107 1,821,404 26,215 X 22,965 3,250
WASHINGTON GAS & LIGHT CO Common 93883710 514,800 19,800 X 19,800
WASTE MANAGEMENT, INC. Common 94106L109 219,567 4,364 X 4,364
WELLPOINT HEALTH NETWORKS-A Common 94973H108 201,173 2,385 X 2,385
WELLS FARGO COMPANY Common 949746101 109,652,170 2,584,058 X 1,288,731 554,323 741,004
WELLS FARGO COMPANY Common 949746101 89,775 2,100 X 400 1,700
WEYERHAEUSER CO Common 96216610 1,189,748 17,315 X 215 17,100
WHITMAN CORP Common 96647R107 455,900 25,300 X 1,000 24,300
WHITNEY HOLDING CORP Common 966612103 536,625 13,500 X 13,500
WILLIAMS COS. INC. Common 969457100 788,615 18,621 X 5,121 13,500
WILMINGTON TRUST CORP. Common 971807102 843,743 14,740 X 8,700 6,040
WINN-DIXIE STORES INC Common 974280109 258,563 7,000 X 7,000
WITCO CORP. Common 977385103 4,819 244 X 244
WITCO CORP. Common 977385103 209,288 10,850 X 4,000 6,850
WOLVERINE TUBE INC Common 978093102 6,684,232 268,511 X 230,198 32,100 6,213
Woodside Petroleum Limited Common 980228308 172,941 25,515 X 25,515
WORLD COLOR PRESS INC Common 981443104 7,649,315 271,950 X 241,785 23,100 7,065
XEROX CORP. Common 984121103 2,707,926 46,787 X 9,887 36,900
ZALE CORP. Common 988858106 10,847,406 271,811 X 239,719 25,300 6,792
ZEPHYR ASSOC INC. Common 98943F100 25,000 X 25,000
FRESH DEL MONTE PRODUCE INC. Common G36738105 4,926,453 348,646 X 299,206 40,600 8,840
HELEN OF TROY CORP LTD Common G4388N106 1,122,015 62,555 X 52,255 9,200 1,100
LASALLE RE HOLDINGS LIMITED Common G5383Q101 3,048,525 179,325 X 149,825 26,200 3,300
DAIMLERCHRYSLER AG Common GR5529027 1,075,788 12,336 X 12,336
ASM LITHOGRAPHY HOLDING NV Common N07059111 575,383 9,690 X 6,890 2,800
SUN INTL HOTELS LTD. Common P8797T133 8,209,504 184,708 X 161,638 18,300 4,770
ROYAL CARIBBEAN CRUISES LTD Common V7780T103 428,512 9,680 X 9,680
REPUBLIC NY CORP Common 760719104 300,025 4,400 X 4,400
VIRGINIA ELECTRIC & POWER Preferred 927804617 243,125 10,000 X 10,000
ALLSTATE FINANCING Preferred 020013207 252,500 10,000 X 10,000
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