UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washinton, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Semi-Annual 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: Northeast Partners
Address: 50 Congress Street
Suite 1000
Boston, MA 02109
13F File Number:
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.
Perosn signing this Report on behalf of Reporting Manager:
Name: William Oates
Title: Trustee
Phone: 617-523-3588
Signature, Place, and Date of Signing:
William Oates, Boston, MA May 14, 1999
Report Type (Check if only one):
[x] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Othe Included Managers: 1
Form 13F Information Table Entry Total:
Form 13F Information Table Value Total:
List of Other Included Managers:
Name: Ernest E. Monrad
Title: Trustee
Phone: 617-523-3588
Signature, Place, and Date of Signing:
Ernest E. Monrad, Boston, MA May 14, 1999
Trustee
<TABLE>
Investment Discretion
Voting Authority
FORM 13F AS OF 3/31/1999
<S> <C> <C> <C> <C> <C>
Item 6 Item 8
Item 1 Item 3 Item 4 Item 5
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COMMON STOCKS
AFC CABLE SYSTEM 000950105 22,313.00 750.000 750.000 750.000
AFLAC INC. 001055102 184,652.00 3,392.000 3,392.000 3,392.000
AT&T CORP 001957109 3,407,994.00 42,874.000 42,874.000 42,874.000
ABBOTT LABORATORIES 002824100 10,034,832.00 214,362.000 214,362.000 214,362.000
ACNIELSON CORP 004833109 9,033.00 333.000 333.000 333.000
ADOBE SYSTEMS 00724F101 100,375.00 2,000.000 2,000.000 2,000.000
AGOURON PHARMACEUTICALS INC 008488108 56,562.00 1,000.000 1,000.000 1,000.000
AIR PRODUCTS & CHEMICAL 009158106 265,438.00 7,750.000 7,750.000 7,750.000
AIRTOUCH COMMUNICATIONS 00949T100 463,994.00 4,802.000 4,802.000 4,802.000
ALBERTSONS INC DEL 013104104 76,213.00 1,400.000 1,400.000 1,400.000
ALCAN ALUMINIUM LTD 013716105 10,418.00 440.000 440.000 440.000
ALLEGHENY ENERGY INC 017361106 2,332.00 80.000 80.000 80.000
ALLIED SIGNAL 019512102 53,024.00 1,078.000 1,078.000 1,078.000
ALLSTATE CORP 020002101 268,851.00 7,254.000 7,254.000 7,254.000
ALLTEL CORP 020039103 93,126.00 1,493.000 1,493.000 1,493.000
ALCOA 022249106 165.00 4.000 4.000 4.000
ALZA CORP CLASS A 022615108 57,375.00 1,500.000 1,500.000 1,500.000
AMERICA ONLINE INC 02364J104 19,100,078.00 129,933.000 129,933.000 129,933.000
AMERICAN ELEC PWR CO 025537101 17,959.00 434.000 434.000 434.000
AMERICAN EXPRESS CO 025816109 1,703,490.00 14,467.000 14,467.000 14,467.000
AMERICAN GENERAL 026351106 15,534.00 290.000 290.000 290.000
AMER HOME PRODUCTS 026609107 13,122,429.00 201,110.000 201,110.000 201,110.000
AMER INTERNTL GROUP 026874107 12,113,546.00 100,428.000 100,428.000 100,428.000
AMERICAN STANDARD COS INC 029712106 2,738.00 100.000 100.000 100.000
AMERICAN STORES CO 030096101 56,760.00 1,720.000 1,720.000 1,720.000
AMERICAN SUPERCONDUCTOR CORP 030111108 4,654.00 510.000 510.000 510.000
AMERITECH 030954101 1,247,928.00 21,656.000 21,656.000 21,656.000
AMGEN INC 031162100 408,818.00 5,460.000 5,460.000 5,460.000
A M P INC 031897101 453,038.00 8,468.000 8,468.000 8,468.000
AMPCO-PITTSBURGH CORP 032037103 8,888.00 900.000 900.000 900.000
ANALOG DEVICES 032654105 39,657.00 1,333.000 1,333.000 1,333.000
ANHEUSER BUSCH 035229103 769,167.00 10,104.000 10,104.000 10,104.000
APPLE COMPUTER INC 037833100 28,750.00 800.000 800.000 800.000
ARCHER DANIELS MIDLD 039483102 93,556.00 6,370.000 6,370.000 6,370.000
ARIAD PHARMACEUTICALS INC 04033A100 188,243.00 133,857.000 133,857.000 133,857.000
ARMSTRONG WORLD INDS INC 042476101 29,372.00 650.000 650.000 650.000
ARROW ELECTRONICS 042735100 14,031.00 250.000 250.000 250.000
ASCEND COMMUNICATIONS INC 043491109 111,221.00 1,329.000 1,329.000 1,329.000
ASHLAND INC 044204105 7,789.00 150.000 150.000 150.000
ATLANTIC RICHFIELD 048825103 548,814.00 7,480.000 7,480.000 7,480.000
AUTOMATIC DATA PROCESSING 053015103 1,696,624.00 41,006.000 41,006.000 41,006.000
AVERY-DENNISON CORP 053611109 785,163.00 13,655.000 13,655.000 13,655.000
AVIRON 053762100 20,250.00 1,000.000 1,000.000 1,000.000
AVNET INC 053807103 2,415.00 50.000 50.000 50.000
AZTAR CORP 054802103 2,406.00 500.000 500.000 500.000
BP AMOCO PLC 055622104 4,024,446.00 39,846.000 39,846.000 39,846.000
BAKER HUGHES INC 057224107 29,444.00 700.000 700.000 700.000
BANK OF NEW YORK CO INC 064057102 1,018,476.00 28,340.000 28,340.000 28,340.000
BANC ONE CORP 06423A103 380,372.00 6,908.000 6,908.000 6,908.000
BANKAMERICA CORP 06605F102 2,675,758.00 37,872.000 37,872.000 37,872.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
Page 2
Item 6 Item 8
Item 1 Item 3 Item 4 Item 5 Investment Discretion Voting Authority
-------------- ----- ----------------- --------------------- -------- --------
COMMON STOCKS
BANKBOSTON CORP 06605R106 26,344,173.00 608,234.000 608,234.000 608,234.000
BANK AMERICA CORP 066050105 46,802.00 970.000 970.000 970.000
BANKERS TRUST CORP 066365107 3,360,478.00 38,079.000 38,079.000 38,079.000
BAXTER INTERNATIONAL INC 071813109 114,576.00 1,736.000 1,736.000 1,736.000
BECTON DICKINSON 075887109 26,052.00 680.000 680.000 680.000
BELL ATLANTIC CORP 077853109 2,552,805.00 49,389.000 49,389.000 49,389.000
BELLSOUTH CORP 079860102 1,150,358.00 28,714.000 28,714.000 28,714.000
BELO A H CORP 080555105 823,769.00 45,138.000 45,138.000 45,138.000
BEMIS COMPANY 081437105 400,706.00 12,900.000 12,900.000 12,900.000
BERKSHIRE HATHAWAY INC-A 084670108 5,854,943.00 82.000 82.000 82.000
BERKSHIRE HATHAWAY INC-B 084670207 1,998,350.00 850.000 850.000 850.000
BIOGEN INC 090597105 45,725.00 400.000 400.000 400.000
THE BOEING COMPANY 097023105 51,000.00 1,500.000 1,500.000 1,500.000
BORG-WARNER AUTOMOTIVE 099724106 .00 19.000 19.000 19.000
BOSTON SCIENTIFIC CORP 101137107 24,375.00 600.000 600.000 600.000
BOWNE & CO INC 103043105 4,675.00 400.000 400.000 400.000
BRISTOL MYERS SQUIBB CO 110122108 17,636,503.00 275,033.000 275,033.000 275,033.000
BROWN FORMAN DIST A 115637100 2,573,100.00 47,650.000 47,650.000 47,650.000
BROWN FORMAN DIST B 115637209 399,860.00 6,939.000 6,939.000 6,939.000
BURLINGTON NORTHERN SANTA FE 12189T104 9,863.00 300.000 300.000 300.000
CBS CORPORATION 12490K107 104,480.00 2,560.000 2,560.000 2,560.000
CECO ENVIROMENTAL CORP 125141101 30,938.00 8,250.000 8,250.000 8,250.000
CIGNA CORP 125509109 432,892.00 5,310.000 5,310.000 5,310.000
CML GROUP 125820100 6.00 575.000 575.000 575.000
C S X CORP 126408103 104,201.00 2,545.000 2,545.000 2,545.000
CVS CORP 126650100 1,445,664.00 30,435.000 30,435.000 30,435.000
CABOT CORP 127055101 97,750.00 4,600.000 4,600.000 4,600.000
CABOT OIL & GAS CORP 127097103 36,094.00 2,500.000 2,500.000 2,500.000
CACI INTL INC CL A 127190304 11,856.00 700.000 700.000 700.000
CAMBRIDGE BANCORP 132152109 1,874,730.00 28,842.000 28,842.000 28,842.000
CAMBRIDGE TECH 132524109 15,625.00 500.000 500.000 500.000
CAMPBELL SOUP CO 134429109 532,194.00 13,080.000 13,080.000 13,080.000
CANADIAN PACIFIC LTD NEW 135923100 13,575.00 600.000 600.000 600.000
CAPITAL RE CORPORATION 140432105 3,450.00 200.000 200.000 200.000
CARDINAL HEALTH INC 14149Y108 19,164.00 290.000 290.000 290.000
CAREMARK INTERNATIONAL INC 141704106 1,500.00 64.000 64.000 64.000
CAROLINA PWR & LIGHT 144141108 7,562.00 200.000 200.000 200.000
CATELLUS DEVELOPMENT CORP 149111106 3,076.00 230.000 230.000 230.000
CATERPILLAR TRACTOR 149123101 149,207.00 3,248.000 3,248.000 3,248.000
CENTRL & SWEST CORP 152357109 294,609.00 12,570.000 12,570.000 12,570.000
CENTRAL NEWSPAPERS CL A 154647101 9,338.00 300.000 300.000 300.000
CHAMPION INTL CORP 158525105 2,104.00 55.000 55.000 55.000
CHASE MANHATTAN CORP NEW 16161A108 4,871,279.00 59,862.000 59,862.000 59,862.000
CHEVRON CORP 166751107 9,808,571.00 110,519.000 110,519.000 110,519.000
CHUBB CORPORATION 171232101 8,014,685.00 136,856.000 136,856.000 136,856.000
CINCINNATI FINANCIAL CP 172062101 660,615.00 18,130.000 18,130.000 18,130.000
CISCO SYSTEMS INC 17275R102 23,565,490.00 215,088.000 215,088.000 215,088.000
CITIGROUP INC 172967101 3,784,596.00 59,250.000 59,250.000 59,250.000
CITIZENS UTILITY CLASS B 177342201 96,015.00 12,389.000 12,389.000 12,389.000
CLOROX COMPANY 189054109 1,242,182.00 10,600.000 10,600.000 10,600.000
COCA COLA 191216100 16,344,031.00 266,297.000 266,297.000 266,297.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
Page 3
Item 6 Item 8
Item 1 Item 3 Item 4 Item 5 Investment Discretion Voting Authority
-------------- ----- ----------------- --------------------- -------- --------
COMMON STOCKS
COLGATE PALMOLIVE 194162103 523,112.00 5,686.000 5,686.000 5,686.000
COMCAST CORP CLASS A 200300101 184,500.00 3,000.000 3,000.000 3,000.000
COMCAST CORP SPECIAL CL A 200300200 367,555.00 5,840.000 5,840.000 5,840.000
COMERICA INC 200340107 12,488.00 200.000 200.000 200.000
COMMERCE BANCSHARES INC 200525103 147,340.00 3,827.000 3,827.000 3,827.000
COMPAQ COMPUTER CORP 204493100 1,068,124.00 33,708.000 33,708.000 33,708.000
COMPUWARE CORP 205638109 23,875.00 1,000.000 1,000.000 1,000.000
CONCORD COMMUNICATIONS 206186108 131,100.00 2,300.000 2,300.000 2,300.000
CONSOLIDATED PAPERS INC 209759109 5,150.00 180.000 180.000 180.000
COOPER INDUSTRIES 216669101 41,515.00 947.000 947.000 947.000
COOPER TIRE & RUBBER 216831107 2,744.00 150.000 150.000 150.000
CORNING INC 219350105 258,000.00 4,300.000 4,300.000 4,300.000
COSTCO COMPANIES INC 22160Q102 450,000.00 5,000.000 5,000.000 5,000.000
COVANCE INC 222816100 6,893.00 275.000 275.000 275.000
A T CROSS 227478104 1,463.00 200.000 200.000 200.000
CROWN CORK & SEAL CO INC 228255105 23,850.00 840.000 840.000 840.000
CUTTER & BUCK 232217109 320.00 10.000 10.000 10.000
CYPROS PHARMACEUTICAL CORP 232808105 10,748.00 4,000.000 4,000.000 4,000.000
DARDEN RESTAURANTS, INC 237194105 228,946.00 11,100.000 11,100.000 11,100.000
DEERE & CO 244199105 11,588.00 300.000 300.000 300.000
DELL COMPUTER 247025109 2,181,662.00 53,374.000 53,374.000 53,374.000
DELTA AIRLINES 247361108 69,500.00 1,000.000 1,000.000 1,000.000
DIEBOLD INC 253651103 764,976.00 31,874.000 31,874.000 31,874.000
DILLARDS INC-CL A 254067101 6,000.00 175.000 175.000 175.000
DISNEY (WALT) PRODUCTIONS 254687106 16,730,026.00 537,510.000 537,510.000 537,510.000
R R DONNELLEY & SONS CO 257867101 138,406.00 4,300.000 4,300.000 4,300.000
DOVER CORP 260003108 63,778.00 1,940.000 1,940.000 1,940.000
DOW CHEMICAL CO 260543103 136,257.00 1,295.000 1,295.000 1,295.000
DOW JONES 260561105 66,062.00 1,400.000 1,400.000 1,400.000
DUPONT 263534109 3,622,003.00 62,381.000 62,381.000 62,381.000
DUFF & PHELPS CREDIT RATING 26432F109 222,594.00 4,250.000 4,250.000 4,250.000
DUKE POWER 264399106 265,621.00 4,846.000 4,846.000 4,846.000
DUN & BRADSTREET CORP 26483B106 328,997.00 9,235.000 9,235.000 9,235.000
EMC CORP/MASS 268648102 9,975,374.00 78,113.000 78,113.000 78,113.000
ESCO 269030201 144.00 16.000 16.000 16.000
EASTMAN CHEM 277432100 17,025.00 340.000 340.000 340.000
EASTMAN KODAK CO 277461109 513,685.00 8,042.000 8,042.000 8,042.000
EATON CORP 278058102 54,361.00 725.000 725.000 725.000
EATON VANCE CORP 278265103 3,669,882.00 182,354.000 182,354.000 182,354.000
EMERSON ELEC CO 291011104 2,591,297.00 48,950.000 48,950.000 48,950.000
ENERGY GROUP PLC-SPON ADR 292691102 6,109.00 108.000 108.000 108.000
ENRON CORP 293561106 445,895.00 6,940.000 6,940.000 6,940.000
ENTREMED INC 29382F103 27,463.00 1,300.000 1,300.000 1,300.000
EQUIFAX 294429105 2,289,891.00 66,615.000 66,615.000 66,615.000
EQUITY INCOME FUND(AT&T) 294700703 265,343.00 1,497.000 1,497.000 1,497.000
ERICSSON (LM) TEL-SP ADR 294821400 76,199.00 3,200.000 3,200.000 3,200.000
EXXON CORP 302290101 18,889,342.00 267,696.000 267,696.000 267,696.000
FANNIE MAE 313586109 398,880.00 5,760.000 5,760.000 5,760.000
FEDERATED DEPARTMENT STORES 31410H101 229,185.00 5,675.000 5,675.000 5,675.000
FERRO CORP 315405100 43,090.00 1,741.000 1,741.000 1,741.000
FIFTH THIRD BANCORP 316773100 12,593,577.00 190,994.000 190,994.000 190,994.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
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Item 6 Item 8
Item 1 Item 3 Item 4 Item 5 Investment Discretion Voting Authority
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COMMON STOCKS
FIRST AUSTRALIA 318652104 7,375.00 1,000.000 1,000.000 1,000.000
FIRST AUSTRALIA PRIME 318653102 7,350.00 1,200.000 1,200.000 1,200.000
FIRST AMERICAN CORP TENN 318900107 101,775.00 2,760.000 2,760.000 2,760.000
FIRST SECURITY CORP 336294103 4,901,863.00 253,819.000 253,819.000 253,819.000
FIRST TENN NATL CORP 337162101 5,990,021.00 163,550.000 163,550.000 163,550.000
FIRST UNION CORP 337358105 1,132,234.00 21,188.000 21,188.000 21,188.000
FIRST VIRGINIA BANKS INC 337477103 154,195.00 3,375.000 3,375.000 3,375.000
FLEET FINANCIAL GROUP INC 338915101 10,642,953.00 282,861.000 282,861.000 282,861.000
FLEET FINANCIAL GROUP-WTS 338915119 122,500.00 3,500.000 3,500.000 3,500.000
FLUOR CORP 343861100 7,153.00 150.000 150.000 150.000
FORD MOTOR CO 345370100 105,454.00 1,843.000 1,843.000 1,843.000
FORE SYSTEMS INC 345449102 113,438.00 6,000.000 6,000.000 6,000.000
FOREST LABORATORIES 345838106 112,750.00 2,000.000 2,000.000 2,000.000
FORT JAMES CORPORATION 347471104 31,688.00 1,000.000 1,000.000 1,000.000
FOUNDATION HEALTH SYSTEMS -A 350404109 371.00 35.000 35.000 35.000
GATX CORP 361448103 32,937.00 1,000.000 1,000.000 1,000.000
GC COMPANIES 36155Q109 6,288.00 200.000 200.000 200.000
GTE CORP 362320103 2,329,615.00 38,506.000 38,506.000 38,506.000
GANNETT CO INC 364730101 887,040.00 14,080.000 14,080.000 14,080.000
GAP INC 364760108 179,186.00 2,662.000 2,662.000 2,662.000
GATEWAY 2000 INC 367833100 27,425.00 400.000 400.000 400.000
GAYLORD CONTAINER COMMON STOCK 368145108 188,250.00 25,100.000 25,100.000 25,100.000
GENENTECH INC-SPECIAL COMMON 368710307 17,725.00 200.000 200.000 200.000
GENERAL ELECTRIC CO 369604103 70,551,800.00 637,775.000 637,775.000 637,775.000
GENERAL INSTRUMENT CORP 370120107 18,188.00 600.000 600.000 600.000
GENERAL MILLS INC 370334104 6,938,763.00 91,828.000 91,828.000 91,828.000
GENERAL MOTORS CORP 370442105 400,635.00 4,605.000 4,605.000 4,605.000
GENESIS HEALTH 371912106 48,750.00 10,000.000 10,000.000 10,000.000
GENUINE PARTS CO 372460105 38,091.00 1,318.000 1,318.000 1,318.000
GENZYME CORP 372917104 31,523.00 625.000 625.000 625.000
GEORGIA PACIFIC CO 373298108 53,800.00 700.000 700.000 700.000
GILLETTE CO 375766102 14,704,703.00 247,398.000 247,398.000 247,398.000
GLAXO WELLCOME PLC-SPONS 37733W105 187,424.00 2,800.000 2,800.000 2,800.000
GLOBAL MARINE INC 379352404 32,900.00 2,800.000 2,800.000 2,800.000
GOLDEN WEST FINANCIAL CORP 381317106 2,160.00 50.000 50.000 50.000
B.F. GOODRICH 382388106 4,650.00 100.000 100.000 100.000
GOODYEAR TIRE RUBBER 382550101 25,320.00 475.000 475.000 475.000
HALLIBURTON CO 406216101 130,900.00 3,400.000 3,400.000 3,400.000
JOHN HANCOCK BANK & THRIFT 409735107 62,050.00 6,800.000 6,800.000 6,800.000
HANNAFORD BROTHERS CO 410550107 13,631.00 300.000 300.000 300.000
HARCOURT GENERAL INC 41163G101 88,625.00 2,000.000 2,000.000 2,000.000
HARLEY-DAVIDSON INC 412822108 45,900.00 800.000 800.000 800.000
HARRAH'S ENTERTAINMENT INC 413619107 76,250.00 4,000.000 4,000.000 4,000.000
HARTFORD FINANCIAL SVCS GRP 416515104 522,670.00 9,200.000 9,200.000 9,200.000
HARTFORD LIFE INC CL A 416592103 1,460,525.00 26,555.000 26,555.000 26,555.000
H J HEINZ CO 423074103 6,715,326.00 141,748.000 141,748.000 141,748.000
HERSHEY FOODS CORP 427866108 3,862,713.00 68,900.000 68,900.000 68,900.000
HEWLETT PACKARD CO 428236103 6,297,146.00 92,861.000 92,861.000 92,861.000
HILLENBRAND INDUSTRIES INC 431573104 23,094.00 500.000 500.000 500.000
HOECHST AKTIENGESELLSHAFT 434390308 13,013.00 300.000 300.000 300.000
HOME DEPOT 437076102 3,115,740.00 50,052.000 50,052.000 50,052.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
Page 5
Item 6 Item 8
Item 1 Item 3 Item 4 Item 5 Investment Discretion Voting Authority
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COMMON STOCKS
HORMEL FOODS CORP 440452100 3,214.00 100.000 100.000 100.000
HOUGHTON MIFFLIN CO 441560109 1,228,128.00 26,200.000 26,200.000 26,200.000
HOUSEHOLD INTERNATIONAL 441815107 4,492,590.00 98,468.000 98,468.000 98,468.000
HUMAN GENOME SCIENCES INC 444903108 9,886.00 285.000 285.000 285.000
ICN PHARMACEUTICALS 448924100 16,758.00 667.000 667.000 667.000
IMS HEALTH INC 449934108 316,344.00 9,550.000 9,550.000 9,550.000
IDEXX LABORATORIES INC 45168D104 2,394.00 100.000 100.000 100.000
IMATION CORPORATION 45245A107 1,155.00 70.000 70.000 70.000
IMMUCELL 452525306 3,468.00 3,000.000 3,000.000 3,000.000
IMPERIAL OIL LTD 453038408 3,825.00 200.000 200.000 200.000
INDEPENDENT BANK CORP 453836108 231,058.00 16,881.000 16,881.000 16,881.000
INGERSOLL RAND 456866102 340,179.00 6,855.000 6,855.000 6,855.000
INTEL CORP 458140100 18,684,802.00 157,180.000 157,180.000 157,180.000
INTELLIGENT MEDICAL IMAGING 45815T106 1,125.00 1,000.000 1,000.000 1,000.000
INTERNATL BUS MACH 459200101 7,504,973.00 42,324.000 42,324.000 42,324.000
INTL FLAVORS FRAGRNC 459506101 3,756.00 100.000 100.000 100.000
INTERNATIONAL GAME TECHNOLOGY 459902102 1,463.00 100.000 100.000 100.000
INTERNATL PAPER CO 460146103 159,825.00 3,650.000 3,650.000 3,650.000
INTUIT INC 461202103 585,063.00 5,750.000 5,750.000 5,750.000
INVESTORS FINANCIAL COMMON 461915100 1,518,866.00 52,830.000 52,830.000 52,830.000
IONICS INC 462218108 16,117.00 535.000 535.000 535.000
ISOMET CORP 464893106 22,500.00 10,000.000 10,000.000 10,000.000
JEFFERSON PILOT 475070108 1,734,543.00 25,602.000 25,602.000 25,602.000
JOHNSON & JOHNSON 478160104 15,669,518.00 167,586.000 167,586.000 167,586.000
KELLOGG CO 487836108 327,035.00 9,672.000 9,672.000 9,672.000
KIMBERLY CLARK CORP 494368103 414,085.00 8,638.000 8,638.000 8,638.000
KLEINWORT BENSON AUST 498577105 10,176.00 1,536.000 1,536.000 1,536.000
KROGER CO 501044101 143,700.00 2,400.000 2,400.000 2,400.000
KUHLMAN CORP 501206106 57,563.00 1,500.000 1,500.000 1,500.000
ESTEE LAUDER COS INC A 518439104 28,350.00 300.000 300.000 300.000
LEUCADIA NATIONAL CORP 527288104 301,835.00 9,978.000 9,978.000 9,978.000
LEVEL 3 COMMUNICATION INC 52729N100 18,203.00 250.000 250.000 250.000
LEXMARK INTL GROUP INC-CL A 529771107 16,781.00 150.000 150.000 150.000
ELI LILLY & CO 532457108 11,343,159.00 133,645.000 133,645.000 133,645.000
LINCOLN NATIONAL CORP 534179106 125,000.00 1,600.000 1,600.000 1,600.000
LINCOLN NATL CORP 534187109 79,100.00 800.000 800.000 800.000
LITTON INDUSTRIES INC 538021106 2,444.00 40.000 40.000 40.000
LOCKHEED MARTIN CORP 539830109 45,369.00 1,220.000 1,220.000 1,220.000
LOEWS CORP 540424108 14,925.00 200.000 200.000 200.000
LOUISIANA PAC CORP 546347105 9,611.00 516.000 516.000 516.000
LOWES COMPANIES 548661107 71,995.00 1,190.000 1,190.000 1,190.000
LUBRIZOL CORP 549271104 15,681.00 660.000 660.000 660.000
LUCENT TECHNOLOGIES INC 549463107 2,480,328.00 22,966.000 22,966.000 22,966.000
LYONDELL CHEMICAL COMPANY 552078107 2,600.00 100.000 100.000 100.000
MBIA INC 55262C100 3,660.00 60.000 60.000 60.000
MBNA CORPORATION 55262L100 131,313.00 5,500.000 5,500.000 5,500.000
MCI WORLDCOM INC 55268B106 7,407,817.00 83,645.000 83,645.000 83,645.000
MARSH & MCLENNAN 571748102 1,256,681.00 16,925.000 16,925.000 16,925.000
MARRIOTT INTERNATIONAL INC 571900109 4,412.00 200.000 200.000 200.000
MATTEL 577081102 27,718.00 1,112.000 1,112.000 1,112.000
MAY DEPT STORES 577778103 3,731,603.00 95,375.000 95,375.000 95,375.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
Page 6
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-------------- ----- ----------------- --------------------- -------- --------
COMMON STOCKS
MAXXAM INC 577913106 333,986.00 6,630.000 6,630.000 6,630.000
MCDONALD'S CORP 580135101 1,573,070.00 34,716.000 34,716.000 34,716.000
MCGRAW-HILL COMPANIES INC. 580645109 2,206,160.00 40,480.000 40,480.000 40,480.000
MCKESSON HBOC INC 58155Q103 281,952.00 4,272.000 4,272.000 4,272.000
MCKESSON CORP-NEW 581557105 132,000.00 2,000.000 2,000.000 2,000.000
MEAD CORP 582834107 52,125.00 1,600.000 1,600.000 1,600.000
MEDIAONE GROUP INC 58440J104 1,090,554.00 17,191.000 17,191.000 17,191.000
MEDTRONIC 585055106 3,473,577.00 48,328.000 48,328.000 48,328.000
MELLON BANK CORP 585509102 13,575,259.00 192,899.000 192,899.000 192,899.000
MERCHANTS CAPITAL CORP 588530204 450.00 450.000 450.000 450.000
MERCK & CO 589331107 49,818,971.00 621,765.000 621,765.000 621,765.000
MERCURY FINANCE 589395102 3,909.00 32,579.000 32,579.000 32,579.000
MEREDITH CORP 589433101 3,144.00 100.000 100.000 100.000
METACREATIONS 591016100 416.00 61.000 61.000 61.000
MICROSOFT CORP 594918104 34,873,657.00 389,106.000 389,106.000 389,106.000
MILLENNIUM CHEMICALS INC 599903101 6,883.00 282.000 282.000 282.000
MINNESOTA MINING MFG 604059105 2,161,413.00 30,550.000 30,550.000 30,550.000
MIRAGE RESORTS 60462E104 2,025,125.00 95,300.000 95,300.000 95,300.000
MOBIL CORP 607059102 4,776,467.00 54,259.000 54,259.000 54,259.000
MOLEX 608554101 33,517.00 1,141.000 1,141.000 1,141.000
MONSANTO 611662107 2,000,579.00 43,550.000 43,550.000 43,550.000
MONTANA POWER CO 612085100 58,850.00 800.000 800.000 800.000
J P MORGAN & CO 616880100 5,893,019.00 47,765.000 47,765.000 47,765.000
MSDW INCOME SECURITIES INC 61745P874 3,719.00 201.000 201.000 201.000
MOTOROLA INC 620076109 2,924,069.00 39,919.000 39,919.000 39,919.000
NL INDUSTRIES 629156407 134,550.00 14,950.000 14,950.000 14,950.000
NALCO CHEMICAL CO 629853102 1,028.00 30.000 30.000 30.000
NATIONAL BANCORP ALASKA 632587101 9,161,337.00 325,736.000 325,736.000 325,736.000
NATL CITY CORP 635405103 66,375.00 1,000.000 1,000.000 1,000.000
NATIONAL SEMICONDUCTOR 637640103 5,250.00 200.000 200.000 200.000
NEW ENGLAND BANCORP 643859101 285.00 285.000 285.000 285.000
NEW ENG ELEC SYS 644001109 350,267.00 7,222.000 7,222.000 7,222.000
NEW PLAN REALTY 648059103 22,563.00 1,000.000 1,000.000 1,000.000
NEW YORK TIMES CO A 650111107 183,939.00 6,454.000 6,454.000 6,454.000
NEWBRIDGE NETWORKS CORP 650901101 31,500.00 1,000.000 1,000.000 1,000.000
NEWPORT NEWS SHIPBUILDING 652228107 1,711.00 54.000 54.000 54.000
NIELSEN MEDIA RESEARCH 653929307 8,221.00 333.000 333.000 333.000
NICOR INC 654086107 14,375.00 400.000 400.000 400.000
NIKE 654106103 53,438.00 1,000.000 1,000.000 1,000.000
NOKIA CORP SPONSORED 654902204 62,300.00 400.000 400.000 400.000
NOBLE DRILLING CORP 655042109 51,256.00 2,950.000 2,950.000 2,950.000
NORFOLK & SOUTHERN 655844108 72,880.00 2,610.000 2,610.000 2,610.000
NORTHERN TRUST 665859104 518,488.00 5,838.000 5,838.000 5,838.000
OAK INDUSTRIES INC 671400505 63,500.00 2,000.000 2,000.000 2,000.000
OCCIDENTAL PETROLEUM CO 674599105 9,620.00 450.000 450.000 450.000
OHIO CASUALTY CORP 677240103 2,291,055.00 58,745.000 58,745.000 58,745.000
OLD REPUBLIC INTL CP 680223104 2,557.00 150.000 150.000 150.000
OMEGA HEALTHCARE INVESTORS 681936100 4,587.00 200.000 200.000 200.000
ORACLE CORPORATION 68389X105 277,518.00 10,522.000 10,522.000 10,522.000
OUTBACK STEAKHOUSE INC 689899102 16,375.00 500.000 500.000 500.000
PMC CAPITAL 693430100 8,375.00 1,000.000 1,000.000 1,000.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
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-------------- ----- ----------------- --------------------- -------- --------
COMMON STOCKS
P P G INDUSTRIES INC 693506107 158,876.00 3,100.000 3,100.000 3,100.000
PACIFIC CENTURY FINANCIAL CORP 694058108 338,176.00 16,200.000 16,200.000 16,200.000
PACIFICARE HELATH SYSTEMS-B 695112201 4,020.00 65.000 65.000 65.000
PAINE WEBBER GROUP INC 695629105 520,527.00 13,054.000 13,054.000 13,054.000
PARAMETRIC TECHNOLOGY CORP 699173100 35,550.00 1,800.000 1,800.000 1,800.000
PAXSON COMM 704231109 8,562.00 1,000.000 1,000.000 1,000.000
PAYCHEX INC 704326107 88,763.00 1,800.000 1,800.000 1,800.000
PEERLESS SYSTEMS CORP 705536100 177,378.00 20,868.000 20,868.000 20,868.000
J C PENNEY 708160106 81,054.00 1,945.000 1,945.000 1,945.000
PEOPLE'S HERITAGE SAVINGS 711147108 72,000.00 4,000.000 4,000.000 4,000.000
PEPSICO 713448108 5,958,167.00 152,042.000 152,042.000 152,042.000
PERKIN-ELMER CORP 714041100 19,412.00 200.000 200.000 200.000
PERRIGO COMPANY 714290103 14,500.00 2,000.000 2,000.000 2,000.000
PFIZER INC 717081103 38,369,573.00 276,537.000 276,537.000 276,537.000
PHILIP MORRIS COS INC 718154107 1,606,742.00 45,663.000 45,663.000 45,663.000
PHILIPS ELECTRONICS NV 718337504 13,775.00 200.000 200.000 200.000
PHILLIPS PETROLEUM 718507106 22,444.00 450.000 450.000 450.000
PIONEER HI-BRED INTL 723686101 112,876.00 3,000.000 3,000.000 3,000.000
PITNEY BOWES INC 724479100 758,625.00 11,900.000 11,900.000 11,900.000
PRAXAIR INC 74005P104 7,605.00 200.000 200.000 200.000
T ROWE PRICE ASSOCIATES 741477103 1,900,938.00 55,300.000 55,300.000 55,300.000
PROCTER & GAMBLE 742718109 26,742,534.00 273,057.000 273,057.000 273,057.000
PROGRESSIVE CORP 743315103 28,700.00 200.000 200.000 200.000
PROPERTY CAPITAL TRT 743437105 5,098.00 22,165.000 22,165.000 22,165.000
PROVIDENT COMPANIES INC 743862104 353,679.00 10,233.000 10,233.000 10,233.000
PROVIDENT FINANCIAL GROUP 743866105 3,108.00 81.000 81.000 81.000
PROVIDIAN FINANCIAL CORP 74406A102 767,250.00 6,975.000 6,975.000 6,975.000
PUGET SOUND POWER & LIGHT 745332106 2,275.00 100.000 100.000 100.000
QUAKER OATS 747402105 1,353,751.00 21,747.000 21,747.000 21,747.000
QUANTUM CORP 747906105 7,702.00 400.000 400.000 400.000
QUEST DIAGNOSTICS INC 74834L100 25,298.00 1,137.000 1,137.000 1,137.000
QUIXOTE CORP 749056107 6,825.00 600.000 600.000 600.000
RJR NABISCO HOLDINGS CORP 74960K876 3,114.00 110.000 110.000 110.000
RANGER OIL LTD 752805101 8,000.00 2,000.000 2,000.000 2,000.000
RAYONIER INC 754907103 5,008.00 125.000 125.000 125.000
RAYTHEON CO CL B 755111408 416,238.00 7,100.000 7,100.000 7,100.000
REGENERON PHARM INC 75886F107 26,500.00 4,000.000 4,000.000 4,000.000
REGIONS FINANCIAL CORP 758940100 423,295.00 12,225.000 12,225.000 12,225.000
REPUBLIC, NY 760719104 31,082.00 615.000 615.000 615.000
REPUBLIC SECURITY FINL CORP 760758102 385,390.00 41,663.000 41,663.000 41,663.000
REYNOLDS METALS CO 761763101 5,950.00 100.000 100.000 100.000
RHONE-POULENC 762426609 17,600.00 400.000 400.000 400.000
RIGGS NATIONAL CORP 766570105 107,545.00 6,373.000 6,373.000 6,373.000
RIGHT MANAGEMENT CONSULTANTS 766573109 35,578.00 2,250.000 2,250.000 2,250.000
ROYAL BANK OF CANADA 780087102 94,375.00 2,000.000 2,000.000 2,000.000
ROYAL BK OF SCOTLAND PRFD C 780097408 21,501.00 833.000 833.000 833.000
ROYAL DUTCH PETRO-NY SHARES 780257804 10,324,756.00 198,553.000 198,553.000 198,553.000
RUBBERMAID INC COM 781088109 11,175.00 300.000 300.000 300.000
RYDER SYSTEM INC 783549108 1,300.00 100.000 100.000 100.000
SBC COMMUNICATIONS 78387G103 1,924,921.00 40,793.000 40,793.000 40,793.000
SLI INC 78442T108 4,200.00 200.000 200.000 200.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
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-------------- ----- ----------------- --------------------- -------- --------
COMMON STOCKS
SAFEGUARD SCIENTIFICS 786449108 1,215,000.00 18,000.000 18,000.000 18,000.000
SAFEWAY INC NEW 786514208 25,861.00 504.000 504.000 504.000
ST PAUL COMPANIES INC 792860108 2,009,751.00 64,726.000 64,726.000 64,726.000
SARA LEE CORP 803111103 7,442,722.00 300,716.000 300,716.000 300,716.000
SAVILLE SYS 805174109 12,250.00 1,000.000 1,000.000 1,000.000
SCHERING-PLOUGH CORP 806605101 2,910,515.00 52,679.000 52,679.000 52,679.000
SCHLUMBERGER LTD 806857108 312,976.00 5,200.000 5,200.000 5,200.000
SEARS ROEBUCK & CO 812387108 84,346.00 1,854.000 1,854.000 1,854.000
SERVICE CORPORATION 817565104 17,100.00 1,200.000 1,200.000 1,200.000
SERVICEMASTER COMPANY 81760N109 631,252.00 31,077.000 31,077.000 31,077.000
SHARED MED SYS CORP 819486101 22,275.00 400.000 400.000 400.000
SHELL TRANS & TRADING NYSHNEW 822703609 647,973.00 15,950.000 15,950.000 15,950.000
SHERWIN WILLIAMS CO 824348106 495,000.00 17,600.000 17,600.000 17,600.000
SMITH INTERNATIONAL 832110100 80,000.00 2,000.000 2,000.000 2,000.000
SMITHKLINE BEECHAM PLC 832378301 498,927.00 6,978.000 6,978.000 6,978.000
SONAT 835415100 60,000.00 2,000.000 2,000.000 2,000.000
SOTHEBY'S HOLDINGS CL A 835898107 32,375.00 1,000.000 1,000.000 1,000.000
SOURCE CAPITAL INCC 836144105 13,706.00 300.000 300.000 300.000
SOUTH JERSEY INDUSTRIES INC 838518108 11,029.00 510.000 510.000 510.000
SOUTHERN CO 842587107 9,325.00 400.000 400.000 400.000
SPRINT CORP (FON GROUP) 852061100 176,625.00 1,800.000 1,800.000 1,800.000
STAPLES INC 855030102 1,097,829.00 33,394.000 33,394.000 33,394.000
STARBUCKS CORPORATION 855244109 61,736.00 2,200.000 2,200.000 2,200.000
STATE BANCORP 855716106 121,635.00 7,155.000 7,155.000 7,155.000
STARWOOD HOTELS & RESORTS 855905204 18,337.00 642.000 642.000 642.000
STATE STREET CORP 857477103 7,439,520.00 90,450.000 90,450.000 90,450.000
STEPAN CO 858586100 44,500.00 2,000.000 2,000.000 2,000.000
SUN MICROSYSTEMS INC 866810104 825,006.00 6,675.000 6,675.000 6,675.000
SUNTRUST BANKS INC 867914103 211,650.00 3,400.000 3,400.000 3,400.000
SYMBOL TECHNOLOGIES 871508107 253,125.00 5,625.000 5,625.000 5,625.000
SYSCO CORP 871829107 2,087,109.00 79,320.000 79,320.000 79,320.000
TCA CABLE TV 872241104 343,650.00 7,900.000 7,900.000 7,900.000
TECO ENERGY INC 872375100 1,487,942.00 74,865.000 74,865.000 74,865.000
TECH DATA CORP 878237106 3,281.00 75.000 75.000 75.000
TELE DANMARK ADR 879242105 4,900.00 100.000 100.000 100.000
TELECOM CORP NEW ZEALAND 879278208 602,940.00 15,460.000 15,460.000 15,460.000
TELEFONOS DE MEXICO AADR 879403400 3,250.00 1,000.000 1,000.000 1,000.000
TEMPLE INLAND 879868107 108,932.00 1,726.000 1,726.000 1,726.000
TENNECO NEW 88037E101 7,627.00 273.000 273.000 273.000
TERADYNE INC 880770102 1,732.00 60.000 60.000 60.000
TEXACO 881694103 531,407.00 9,364.000 9,364.000 9,364.000
TEXAS INSTRUMENTS INC 882508104 287,825.00 2,900.000 2,900.000 2,900.000
TEXAS UTILITIES CO 882848104 55,818.00 1,329.000 1,329.000 1,329.000
TEXTRON INC 883203101 2,247,744.00 29,050.000 29,050.000 29,050.000
THERMO ELECTRON CORP 883556102 6,782.00 500.000 500.000 500.000
THERMO INSTRUMENT 883559106 33,826.00 2,343.000 2,343.000 2,343.000
3COM CORPORATION 885535104 40,796.00 1,750.000 1,750.000 1,750.000
TIME WARNER 887315109 23,694,738.00 334,612.000 334,612.000 334,612.000
TORCHMARK CORP 891027104 6,325.00 200.000 200.000 200.000
TRANSAMERICA CORP 893485102 14,200.00 200.000 200.000 200.000
TYCO INTERNATIONAL LTD 902124106 160,083.00 2,142.000 2,142.000 2,142.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
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COMMON STOCKS
UST CORPORATION 902900109 43,688.00 2,000.000 2,000.000 2,000.000
USX-MARATHON GROUP 902905827 41,250.00 1,500.000 1,500.000 1,500.000
USF & G 903290104 11,875.00 500.000 500.000 500.000
UNILEVER NV NY SHS ADR GUILDER 904784501 2,066,207.00 31,100.000 31,100.000 31,100.000
UNION CAMP CORP 905530101 38,144.00 550.000 550.000 550.000
UNION CARBIDE CO 905581104 19,195.00 370.000 370.000 370.000
UNION PACIFIC CORP 907818108 660,383.00 12,355.000 12,355.000 12,355.000
UNION PACIFIC RESOURCE GR 907834105 72,356.00 6,093.000 6,093.000 6,093.000
UNITED ASSET MGMT CORP 909420101 4,525.00 200.000 200.000 200.000
UNITED BANKSHARES INC 909907107 2,288.00 100.000 100.000 100.000
US BIO-SCIENCE 911646107 155.00 18.000 18.000 18.000
US WEST INC 91273H101 46,198.00 839.000 839.000 839.000
UNITED TECHNOLOGIES 913017109 1,581,912.00 11,680.000 11,680.000 11,680.000
V F CORP 918204108 52,650.00 1,100.000 1,100.000 1,100.000
VENTURE STORES, INC. 923275101 14.00 869.000 869.000 869.000
VISX INC 92844S105 3,404,340.00 31,650.000 31,650.000 31,650.000
VLASIC FOODS INTERNATIONAL 928559103 8,422.00 651.000 651.000 651.000
VODAFONE GROUP PLC 92857T107 300,400.00 1,600.000 1,600.000 1,600.000
WAL-MART STORES INC 931142103 3,200,842.00 34,721.000 34,721.000 34,721.000
WALGREEN CO 931422109 226,000.00 8,000.000 8,000.000 8,000.000
WARNER LAMBERT CO 934488107 8,733,616.00 131,828.000 131,828.000 131,828.000
WASHINGTON MUTUAL INC 939322103 9,274,146.00 226,891.000 226,891.000 226,891.000
WASHINGTON POST 939640108 865,169.00 1,659.000 1,659.000 1,659.000
WASTE MANAGEMENT INC 94106L109 24,850.00 560.000 560.000 560.000
WATSON PHARMACEUTICAL INC 942683103 88,250.00 2,000.000 2,000.000 2,000.000
WELLS FARGO COMPANY(NEW) 949746101 264,722.00 7,550.000 7,550.000 7,550.000
WEST POINT STEVENS INC 961238102 8,944,459.00 323,050.000 323,050.000 323,050.000
WESTVACO CORP 961548104 9,669.00 280.000 280.000 280.000
WEYERHAEUSER CO 962166104 8,325.00 150.000 150.000 150.000
WHIRLPOOL CORP 963320106 8,714.00 150.000 150.000 150.000
WHOLE FOODS MKT INC 966837106 39,188.00 1,140.000 1,140.000 1,140.000
WILLAMETTE INDUSTRIES INC 969133107 9,420.00 240.000 240.000 240.000
WILMINGTON TRUST CORP 971807102 28,563.00 500.000 500.000 500.000
WIND RIVER SYSTEMS LTD 973149107 8,015.00 450.000 450.000 450.000
WISCONSIN ENERGY CORP 976657106 4,988.00 200.000 200.000 200.000
WORLDCOM 98155K102 .00 2,000.000 2,000.000 2,000.000
WRIGLEY WM 982526105 139,248.00 1,540.000 1,540.000 1,540.000
XEROX 984121103 5,106,587.00 97,968.000 97,968.000 97,968.000
ZENECA GROUP PLC ADR 98934D106 175,360.00 4,350.000 4,350.000 4,350.000
ZIONS BANCORPORATION 989701107 28,541,189.00 429,190.000 429,190.000 429,190.000
COMMON STOCKS TOTAL * 882,892,715.00 14,204,013.000 14,204,013.000 14,204,013.000
GROWTH FUNDS
FIRST FINANCIAL FUND 320228109 199,909.00 27,338.000 27,338.000 27,338.000
LATIN AMERICA EQUITY FUND 51827T100 17,750.00 2,000.000 2,000.000 2,000.000
MEXICO FUND INC 592835102 106,780.00 7,031.000 7,031.000 7,031.000
GROWTH FUNDS TOTAL * 324,439.00 36,369.000 36,369.000 36,369.000
REM870 FORM 13F AS OF 3/31/1999 16:15:33 5/13/1999
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INCOME FUNDS
INCOME FUNDS
THE NEW AMERICA HIGH INC FD 641876107 726,497.00 163,717.000 163,717.000 163,717.000
INCOME FUNDS TOTAL * 726,497.00 163,717.000 163,717.000 163,717.000
MUTUAL FUND NON-TAXABLE
NUVEEN NY QUALITY INC 670986108 24,468.00 1,500.000 1,500.000 1,500.000
MUTUAL FUND NON-TAXABLE TOTAL * 24,468.00 1,500.000 1,500.000 1,500.000
LIMITED PARTNERSHIP
BUCKEYE PARTNERS L P 118230101 21,800.00 800.000 800.000 800.000
HERITAGE PROPANE PARTNERS 426918108 21,078.00 950.000 950.000 950.000
KINDER MORGAN ENERGY PRTNRS 494550106 33,621.00 971.000 971.000 971.000
LEVIATHAN GAS 527367106 33,400.00 1,600.000 1,600.000 1,600.000
LIMITED PARTNERSHIP TOTAL * 109,899.00 4,321.000 4,321.000 4,321.000
PREFERRED - CONVERTIBLE
MEDIAONE GROUP 58440J203 615,172.00 4,785.000 4,785.000 4,785.000
PREFERRED - CONVERTIBLE TOTAL * 615,172.00 4,785.000 4,785.000 4,785.000
LIMITED PARTNERSHIP
NORTHERN BORDER PARTNERS L P 664785102 15,281.00 500.000 500.000 500.000
LIMITED PARTNERSHIP TOTAL * 15,281.00 500.000 500.000 500.000
GRAND TOTAL ** 884,708,471.00 14,415,205.000 14,415,205.000 14,415,205.000
</TABLE>
