UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 1998
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: Commercial Union Investment Management Corporation
Address: One Beacon Street, B17-01
Boston, MA 02108
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorzied 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: Ronald N. Couture
Title: Manager, Investment Accounting
Phone: 617-725-6564
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FORM 13F INFORMATION TABLE
VALUE SH/INVSTMT
NAME OF ISSUER TITLE OF CCUSIP (x$1000) SHARES PRNDSCRETN
ABBOTT LABS COMMON 002824100 17,461 394,600SH DEFINED
AFLAC INCORPORATED COMMON 001055102 11,539 404,000SH DEFINED
AIRTOUCH COMMUNICATIONS COMMON 00949T100 11,738 209,600SH DEFINED
ALABAMA PWR CO PREFER 010392306 211 2,635SH DEFINED
ALABAMA PWR CO PREFER 010392405 741 9,087SH DEFINED
ALABAMA PWR CO PREFER 010392504 258 3,140SH DEFINED
ALABAMA PWR CO PREFER 010392603 1,009 12,046SH DEFINED
ALABAMA PWR CO PREFER 010392702 607 6,958SH DEFINED
ALLEGHENY ENERGY INC COMMON 017361106 539 18,000SH DEFINED
ALLIED SIGNAL INC. COMMON 019512102 18,738 529,700SH DEFINED
ALLSTATE CORP COMMON 020002101 1,806 43,200SH DEFINED
ALUMINUM CO AMER COMMON 022249106 5,180 72,196SH DEFINED
AMERICAN EXPRESS COMMON 025816109 23,117 297,800SH DEFINED
AMERICAN HOME PRODS CORP COMMON 026609107 22,839 399,800SH DEFINED
AMERICAN INTL GROUP INC COMMON 026874107 7,240 91,650SH DEFINED
AMERITECH COMMON 030954101 33,895 702,200SH DEFINED
AMGEN INC COMMON 031162100 21,956 287,000SH DEFINED
AMOCO CORPORATION COMMON 031905102 25,172 467,228SH DEFINED
AMP INC COMMON 031897101 6,388 163,000SH DEFINED
AMS SERVICES INC COMMON 00179#101 273 12SH DEFINED
ANHEUSER-BUSCH COS INC COMMON 035229103 10,984 203,400SH DEFINED
ASSOCIATES FIRST CAP CORP COMMON 046008108 6,249 93,617SH DEFINED
AT&T CORP COMMON 001957109 19,635 329,300SH DEFINED
ATLANTIC CITY EL CIV PREFER 0483038*5 218 2,800SH DEFINED
ATLANTIC CITY ELEC CO PREFER 048303200 487 7,500SH DEFINED
ATLANTIC CITY ELEC CO PREFER 048303309 979 12,690SH DEFINED
ATLANTIC RICHFIELD CO COMMON 048825103 6,133 84,304SH DEFINED
AUTOMATIC DATA PROCESS INC COMMON 053015103 17,036 227,900SH DEFINED
AVNET INC COMMON 053807103 1,084 30,000SH DEFINED
B.F.GOODRICH CO COMMON 382388106 33 1,000SH DEFINED
BAKER HUGHES INC COMMON 057224107 2,564 122,100SH DEFINED
BALTIMORE GAS ELEC CO PREFER 059165688 3,942 34,750SH DEFINED
BALTIMORE GAS ELEC CO PREFER 059165696 2,161 20,000SH DEFINED
BALTIMORE GAS ELEC CO PREFER 059165761 3,570 30,000SH DEFINED
BANC ONE CORP COMMON 59438101 3,039 68,000SH DEFINED
BANC ONE CORPORATION COMMON 059438101 8,827 208,000SH DEFINED
BANKAMERICA CORP COMMON 066050105 10,777 171,920SH DEFINED
BANKAMERICA CORP COMMON 06605F102 6,668 110,900SH DEFINED
BARRICK GOLD CORP COMMON 067901108 279 13,600SH DEFINED
BAUSCH LOMB INC COMMON 071707103 347 8,500SH DEFINED
BELL ATLANTIC CORP COMMON 077853109 34,458 711,400SH DEFINED
BELLSOUTH CORP COMMON 079860102 15,812 216,600SH DEFINED
BESTFOODS COMMON 08658U101 6,935 146,000SH DEFINED
BLACK DECKER CORP COMMON 091797100 6,578 155,000SH DEFINED
BMC SOFTWARE INC COMMON 055921100 4,883 87,000SH DEFINED
BOEING CO COMMON 097023105 3,365 97,000SH DEFINED
BOSTON EDISON CO PREFER 100599208 1,565 20,550SH DEFINED
BOSTON EDISON CO PREFER 100599307 3,931 45,886SH DEFINED
BRISTOL MYERS SQUIBB CO. COMMON 110122108 48,510 467,000SH DEFINED
BURLINGTON NORTHN SANTA FE COMMON 12189T104 7,832 258,358SH DEFINED
BURLINGTON RES INC COMMON 122014103 385 9,801SH DEFINED
CAMPBELL SOUP CO COMMON 134429109 8,913 177,600SH DEFINED
CAROLINA PWR LT CO PREFER 144141207 790 10,600SH DEFINED
CAROLINA PWR LT CO PREFER 144141405 1,274 13,198SH DEFINED
CATERPILLAR INC COMMON 149123101 1,098 23,400SH DEFINED
CBS CORP COMMON 12490K107 4,348 170,100SH DEFINED
CENTRAL ILL LT CO PREFER 153645304 3,492 42,398SH DEFINED
CENTRAL ILL PUB SVC CO PREFER 153663307 348 3,950SH DEFINED
CENTRAL ILL PUB SVC CO PREFER 153663406 132 1,500SH DEFINED
CENTRAL ILL PUB SVC CO PREFER 153663802 533 7,000SH DEFINED
CERTIFIED CAP CORP COMMON 15687*106 133 132,500SH DEFINED
CHAMPION INTL CORP COMMON 158525105 856 26,000SH DEFINED
CHANCELLOR MEDIA CORP COMMON 158915108 1,522 39,909SH DEFINED
CHASE MANHATTAN CORP COMMON 16161A108 12,900 299,132SH DEFINED
CHASE MANHATTAN SERIES C PREFER 16161A884 125 4,200SH DEFINED
CHEVRON CORPORATION COMMON 166751107 11,885 141,384SH DEFINED
CHRYSLER COMMON 171196108 2,544 50,000SH DEFINED
CHUBB CORP COMMON 171232101 3,578 53,700SH DEFINED
CIGNA CORP COMMON 125509109 1,062 15,600SH DEFINED
CINERGY CORP COMMON 172474108 358 10,000SH DEFINED
CISCO SYSTEMS COMMON 17275R102 26,765 433,000SH DEFINED
CITICORP COMMON 173034109 11,638 115,656SH DEFINED
CITY NATL CORP COMMON 178566105 1,581 50,000SH DEFINED
COCA COLA CO COMMON 191216100 7,894 140,500SH DEFINED
COMCAST CORP COMMON 200300101 4,550 100,000SH DEFINED
COMCAST CORP COMMON 200300200 1,000 21,700SH DEFINED
COMMONWEALTH EDISON CO PREFER 202795605 1,163 44,100SH DEFINED
COMMONWEALTH EDISON CO PREFER 202795845 814 8,000SH DEFINED
COMMONWEALTH EDISON CO PREFER 202795878 1,801 17,400SH DEFINED
COMMONWEALTH EDISON CO PREFER 202795886 9,332 91,440SH DEFINED
COMPAQ COMPUTER CORP COMMON 204493100 5,410 161,500SH DEFINED
COMPUTER SCIENCES CORP. COMMON 205363104 5,668 104,000SH DEFINED
CONSOLIDATED EDISON CO N Y PREFER 209111301 2,352 25,700SH DEFINED
CONSOLIDATED EDISON CO N Y PREFER 209111400 7,354 88,180SH DEFINED
CONSOLIDATED NATURAL GAS CO. COMMON 209615103 10,491 192,500SH DEFINED
COOPER INDS INC COMMON 216669101 2,780 67,196SH DEFINED
CRESTAR FINL CORP COMMON 226091106 20,156 354,000SH DEFINED
CYTEC INDS INC COMMON 232820100 8 426SH DEFINED
DANA CORP COMMON 235811106 8,370 225,820SH DEFINED
DAYTON HUDSON CORP COMMON 239753106 11,640 325,600SH DEFINED
DEERE CO COMMON 244199105 413 13,000SH DEFINED
DELL COMPUTER CORP COMMON 247025109 6,606 100,000SH DEFINED
DELMARVA PWR LT CO PREFER 247109200 1,808 28,250SH DEFINED
DELMARVA PWR LT CO PREFER 247109408 828 11,394SH DEFINED
DELMARVA PWR LT CO PREFER 247109507 1,574 21,250SH DEFINED
DELMARVA PWR LT CO PREFER 247109606 647 8,200SH DEFINED
DELMARVA PWR LT CO PREFER 247109705 2,520 29,133SH DEFINED
DELTA & PINE LAND CO COMMON 247357106 682 14,000SH DEFINED
DELUXE CORP COMMON 248019101 7,839 257,000SH DEFINED
DENBURY RES INC COMMON 247916208 145 20,000SH DEFINED
DIEBOLD INC COMMON 253651103 9,068 403,000SH DEFINED
DISNEY WALT CO COMMON 254687106 6,419 250,500SH DEFINED
DONALDSON LUFKIN & JENRETTE COMMON 257661108 834 29,000SH DEFINED
DOVER CORP COMMON 260003108 667 23,000SH DEFINED
DOW CHEM CO COMMON 260543103 568 6,600SH DEFINED
DOW JONES CO INC COMMON 260561105 4,973 102,000SH DEFINED
DPL INC COMMON 233293109 1,270 67,500SH DEFINED
DQE INC COMMON 23329J104 1,463 37,500SH DEFINED
DRESSER INDS INC COMMON 261597108 3,758 133,900SH DEFINED
DTE ENERGY CO COMMON 233331107 121 2,757SH DEFINED
DU PONT E I DE NEMOURS CO COMMON 263534109 15,514 264,062SH DEFINED
DU PONT E I DE NEMOURS CO PREFER 263534208 2,989 41,800SH DEFINED
DU PONT E I DE NEMOURS CO PREFER 263534307 8,226 91,400SH DEFINED
DUKE ENERGY COMMON 264399106 8,915 134,700SH DEFINED
DUKE ENERGY CORP PREFER 264399643 4,715 42,500SH DEFINED
DUKE ENERGY CORP PREFER 264399668 767 7,000SH DEFINED
DUKE ENERGY CORP PREFER 264399791 213 2,800SH DEFINED
DUPONT EI NEMOURS & CO COMMON 263534109 6,975 124,000SH DEFINED
DUQUESNE LT CO PREFER 266228501 65 1,700SH DEFINED
DUQUESNE LT CO PREFER 266228600 38 1,000SH DEFINED
DUQUESNE LT CO PREFER 266228709 62 1,600SH DEFINED
E M C CORP MASS COMMON 268648102 4,808 77,700SH DEFINED
EASTMAN CHEM CO COMMON 277432100 332 6,600SH DEFINED
EASTMAN KODAK CO COMMON 277461109 10,587 130,900SH DEFINED
EATON CORP COMMON 278058102 2,449 38,084SH DEFINED
ECOLAB INC COMMON 278865100 4,394 154,500SH DEFINED
EL PASO NAT GAS CO COMMON 283695872 3 94SH DEFINED
ELECTRONIC DATA SYS CORP NEW COMMON 285661104 13,559 393,000SH DEFINED
EMERSON ELECTRIC COMPANY COMMON 291011104 28,647 460,200SH DEFINED
ENTERGY ARK INC PREFER 29364D803 103 1,000SH DEFINED
EQUITABLE RES INC COMMON 294549100 926 37,500SH DEFINED
EXXON CORP COMMON 302290101 29,240 414,020SH DEFINED
FEDERAL HOME LN MTG CORP COMMON 313400301 7,017 144,300SH DEFINED
FEDERAL MOGUL CORP COMMON 313549107 5,433 106,000SH DEFINED
FEDERAL NATL MTG ASSN COMMON 313586109 17,601 270,000SH DEFINED
FEDERATED DEPT STORES INC DE COMMON 31410H101 1,620 40,000SH DEFINED
FIRST TENN NATL CORP COMMON 337162101 2,548 89,000SH DEFINED
FIRST UN CORP COMMON 337358105 7,003 127,900SH DEFINED
FLEET FINANCIAL GROUP INC COMMON 338915101 35,764 487,000SH DEFINED
FLORIDA PWR LT CO PREFER 341081206 2,194 29,002SH DEFINED
FLORIDA PWR LT CO PREFER 341081305 2,380 32,775SH DEFINED
FLORIDA PWR LT CO PREFER 341081776 1,717 16,000SH DEFINED
FLORIDA PWR LT CO PREFER 341081784 9,527 87,720SH DEFINED
FLORIDA PWR LT CO PREFER 341081792 2,432 22,500SH DEFINED
FLORIDA PWR & LT PREFER 3410817*2 162 2,000SH DEFINED
FLORIDA PWR CORP PREFER 341099307 3,684 49,750SH DEFINED
FLORIDA PWR CORP PREFER 341099406 2,859 37,088SH DEFINED
FLORIDA PWR CORP PREFER 341099505 1,671 21,585SH DEFINED
FORD MTR CO DEL COMMON 345370100 10,045 208,720SH DEFINED
FRESENIUS MED CARE AG COMMON 358029106 0 1SH DEFINED
FRESENIUS NATL MED CARE HLDG PREFER 358030203 19 466,500SH DEFINED
FRONTIER CORP COMMON 35906P105 20,019 691,800SH DEFINED
GANNETT COMPANY, INC. COMMON 364730101 13,589 253,700SH DEFINED
GATEWAY 2000 INC COMMON 367833100 2,469 45,000SH DEFINED
GENERAL ELEC CAP SERIES Y-1 PREFER 369622683 400 4,000SH DEFINED
GENERAL ELECTRIC COMPANY COMMON 369604103 82,290 1,034,284SH DEFINED
GENERAL MLS INC COMMON 370334104 57 800SH DEFINED
GENERAL MTRS CORP COMMON 370442105 5,400 92,300SH DEFINED
GENERAL MTRS CORP COMMON 370442832 1,680 43,000SH DEFINED
GEORGIA PAC CORP COMMON 373298108 268 5,900SH DEFINED
GEORGIA PAC CORP COMMON 373298702 1,254 64,700SH DEFINED
GILLETTE COMPANY COMMON 375766102 16,459 430,300SH DEFINED
GRACE W R CO DEL NEW COMMON 38388F108 1,567 120,500SH DEFINED
GTE CALIF INC PREFER 362311300 533 32,083SH DEFINED
GTE CALIF INC PREFER 362311409 1,861 97,949SH DEFINED
GTE CORPORATION COMMON 362320103 24,970 454,000SH DEFINED
GUIDANT CORP COMMON 401698105 5,376 72,400SH DEFINED
GULF PWR CO PREFER 402479406 773 8,500SH DEFINED
HALLIBURTON COMPANY COMMON 406216101 5,589 194,400SH DEFINED
HARTFORD FIN SERVICES INC. COMMON 416515104 11,432 241,000SH DEFINED
HARTFORD LIFE INC COMMON 416592103 3,004 60,000SH DEFINED
HEINZ H J CO COMMON 423074103 80 1,500SH DEFINED
HERSHEY FOODS CORP COMMON 427866108 940 14,000SH DEFINED
HEWLETT PACKARD CO COMMON 428236103 1,571 29,000SH DEFINED
HILLENBRAND IND COMMON 431573104 7,531 153,700SH DEFINED
HILTON HOTELS CORP COMMON 432848109 1,846 109,000SH DEFINED
HOME DEPOT INC COMMON 437076102 31,966 743,400SH DEFINED
HONEYWELL INC COMMON 438506107 578 9,000SH DEFINED
HOUGHTON MIFFLIN CO COMMON 441560109 10,413 335,900SH DEFINED
HUBBELL INC COMMON 443510201 863 24,300SH DEFINED
IDAHO PWR CO COMMON 451380109 1,135 35,000SH DEFINED
IDAHO PWR CO PREFER 451380208 130 2,000SH DEFINED
IMMUNEX CORP NEW COMMON 452528102 5,724 96,000SH DEFINED
INGERSOLL-RAND COMPANY COMMON 456866102 15,367 405,050SH DEFINED
INPUT/OUTPUT INC COMMON 457652105 165 19,300SH DEFINED
INSURANCES SERVICES OFFICE COMMON 45806@109 5,826 200,863SH DEFINED
INTEL CORP COMMON 458140100 32,111 363,600SH DEFINED
INTERNATIONAL HOME FOODS INC COMMON 459655106 358 24,500SH DEFINED
INTERNATIONAL MULTIFOODS COMMON 460043102 263 16,200SH DEFINED
INTERNATIONAL PAPER CO COMMON 460146103 4,130 85,268SH DEFINED
INTERN'LT BUS. MACHINES CORP. COMMON 459200101 49,259 383,336SH DEFINED
INTERPUBLIC GROUP OF COS. INC COMMON 460690100 13,916 258,000SH DEFINED
INTERSTATE ENERGY CORP COMMON 460845100 17 555SH DEFINED
ITT HARTFORD CAP. SERIES A PREFER 416315208 10,175 400,000SH DEFINED
IVANS COMMON 46581@108 465 49,538SH DEFINED
JOHNSON & JOHNSON COMMON 478160104 31,081 397,200SH DEFINED
JOHNSON CONTROLS INC COMMON 478366107 65 1,400SH DEFINED
K MART CORP COMMON 482584109 21 1,600SH DEFINED
KANSAS CITY PWR LT CO PREFER 485134506 15 150SH DEFINED
KANSAS CITY SOUTHN INDS INC COMMON 485170104 2,546 70,000SH DEFINED
KEYSPAN COMMON 49337K106 1,449 50,500SH DEFINED
KIMBERLY CLARK CORP COMMON 494368103 650 15,300SH DEFINED
KROGER CO COMMON 501044101 10,800 216,000SH DEFINED
LEHMAN BROTHERS HLDGS INC COMMON 524908100 2,318 69,700SH DEFINED
LG&E ENERGY CORP COMMON 501917108 670 25,050SH DEFINED
LILLY ELI CO COMMON 532457108 18,494 235,400SH DEFINED
LOCKHEED MARTIN CORP COMMON 539830109 20,364 202,000SH DEFINED
LOEWS CORP COMMON 540424108 1,995 23,382SH DEFINED
LORAL SPACE COMMUNICATIONS COMMON G56462107 4,926 314,000SH DEFINED
LUCENT TECHNOLOGIES COMMON 549463107 29,358 423,942SH DEFINED
LYONDELL PETROCHEMICAL COMMON 552078107 728 35,000SH DEFINED
MARRIOTT INTERNATIONAL-CL A COMMON 571903202 7,693 322,200SH DEFINED
MARSH & MCLENNAN COS. COMMON 571748102 11,587 232,900SH DEFINED
MASCO CORPORATION COMMON 574599106 2,287 92,400SH DEFINED
MBNA CORP COMMON 55262L100 1,670 56,500SH DEFINED
MCDONALDS CORP COMMON 580135101 1,832 32,000SH DEFINED
MCGRAWHILL COMPANIES INC COMMON 580645109 48 600SH DEFINED
MCI WORLDCOM COMMON 55268B106 5,306 105,732SH DEFINED
MEDIAONE GROUP INC COMMON 58440J104 7,806 169,000SH DEFINED
MEDTRONIC INC COMMON 585055106 1,697 30,000SH DEFINED
MELLON BK CORP COMMON 585509102 8,874 154,000SH DEFINED
MERCANTILE BANKSHARES CORP COMMON 587405101 731 25,000SH DEFINED
MERCK & CO. INC. COMMON 589331107 48,081 371,100SH DEFINED
MEREDITH CORP COMMON 589433101 1,437 45,000SH DEFINED
MERRILL LYNCH & CO COMMON 590188108 4,138 87,700SH DEFINED
METRONET COMMUNICATIONS COMMON 59169Y108 383 20,000SH DEFINED
MICROSOFT CORP COMMON 594918104 84,990 772,200SH DEFINED
MIDAMERICAN ENERGY CO PREFER 595620709 820 12,100SH DEFINED
MIDAMERICAN ENERGY CO PREFER 595620808 563 7,700SH DEFINED
MIDAMERICAN ENERGY CO PREFER 595620873 20 250SH DEFINED
MINNESOTA MNG MFG CO COMMON 604059105 5,967 80,300SH DEFINED
MISSISSIPPI PWR CO PREFER 605417500 362 3,500SH DEFINED
MOBIL CORPORATION COMMON 607059102 28,477 375,000SH DEFINED
MONONGAHELA PWR CO PREFER 610202301 199 2,371SH DEFINED
MONONGAHELA PWR CO PREFER 610202400 465 4,910SH DEFINED
MONONGAHELA PWR CO PREFER 610202509 1,610 15,447SH DEFINED
MONONGAHELA PWR CO PREFER 610202848 2,802 25,000SH DEFINED
MONTANA PWR CO COMMON 612085100 1,890 44,800SH DEFINED
MORGAN J P CO INC COMMON 616880100 6,667 74,960SH DEFINED
MORGAN STANLEY DEAN WITTER COMMON 617446448 1,716 32,600SH DEFINED
MOTOROLA INC COMMON 620076109 13,916 295,300SH DEFINED
MUENCHENER RUECKVER AG-REG COMMON D55535104 23,609 54,000SH DEFINED
NABISCO HLDGS CORP COMMON 629526104 843 23,500SH DEFINED
NALCO CHEM CO COMMON 629853102 2,185 75,500SH DEFINED
NATIONSBANK COMMON 638585109 29,521 526,563SH DEFINED
NCR CORP NEW COMMON 62886E108 0 19SH DEFINED
NEW YORK TIMES CO COMMON 650111107 4,186 155,400SH DEFINED
NEWELL COMPANY COMMON 651192106 11,124 241,500SH DEFINED
NEWPORT NEWS SHIPBLDING INC COMMON 652228107 3 100SH DEFINED
NORFOLK SOUTHN CORP COMMON 655844108 9,409 319,610SH DEFINED
NORTHERN IND PUB SVC CO PREFER 665262200 249 3,682SH DEFINED
NORTHERN IND PUB SVC CO PREFER 665262507 2,198 30,449SH DEFINED
NORTHERN STS PWR CO MINN PREFER 665772307 3,782 47,270SH DEFINED
NORTHERN STS PWR CO MINN PREFER 665772406 4,678 58,480SH DEFINED
NORTHERN STS PWR CO MINN PREFER 665772505 6,301 79,765SH DEFINED
NORTHERN STS PWR CO MINN PREFER 665772604 3,515 44,210SH DEFINED
NORTHERN STS PWR CO MINN PREFER 665772703 3,329 39,165SH DEFINED
NORTHERN TELECOM LTD COMMON 665815106 5,200 128,400SH DEFINED
NORTHROP GRUMMAN CORP COMMON 666807102 2,766 40,200SH DEFINED
NORTHWESTERN STL WIRE CO COMMON 668367204 91 50,000SH DEFINED
NORWEST CORP COMMON 669380107 11,169 306,000SH DEFINED
OCTEL CORP COMMON 675727101 18 1,225SH DEFINED
OGE ENERGY CORP COMMON 670837103 1,471 52,400SH DEFINED
OLIN CORP COMMON 680665205 13 500SH DEFINED
ORACLE CORP COMMON 68389X105 6,976 241,050SH DEFINED
ORANGE ROCKLAND UTILS INC PREFER 684065303 1,294 17,990SH DEFINED
ORANGE ROCKLAND UTILS INC PREFER 684065501 101 1,000SH DEFINED
ORANGE ROCKLAND UTILS INC PREFER 684065600 1,950 19,000SH DEFINED
PACIFIC ENTERPRISES PREFER 694232505 378 4,400SH DEFINED
PACIFIC ENTERPRISES PREFER 694232604 567 6,240SH DEFINED
PAINE WEBBER GROUP INC. COMMON 695629105 1,355 40,000SH DEFINED
PENNSYLVANIA AMERICA WATER CO PREFER 9591882*3 21 242SH DEFINED
PENNZOIL CO COMMON 709903108 1,702 47,188SH DEFINED
PEOPLES HERITAGE FIN GROUP INC COMMON 711147108 3,588 200,000SH DEFINED
PEPSICO INC COMMON 713448108 7,823 257,000SH DEFINED
PFIZER INCORPORATED COMMON 717081103 42,892 405,600SH DEFINED
PHARMACIA UPJOHN INC COMMON 716941109 5,815 115,000SH DEFINED
PHELPS DODGE CORP COMMON 717265102 547 10,000SH DEFINED
PHILIP MORRIS COS INC COMMON 718154107 11,342 246,900SH DEFINED
PITNEY BOWES INC COMMON 724479100 57,020 1,084,800SH DEFINED
PITTSTON CO COMMON 725701106 553 16,000SH DEFINED
PLATINUM TECHNOLOGY INC COMMON 72764T101 425 22,000SH DEFINED
PNC BK CORP COMMON 693475105 9,249 189,000SH DEFINED
POTOMAC EDISON CO PREFER 737662304 2,924 29,455SH DEFINED
POTOMAC ELEC PWR CO PREFER 737679209 3,921 98,847SH DEFINED
POTOMAC ELEC PWR CO PREFER 737679308 1,177 27,727SH DEFINED
POTOMAC ELEC PWR CO PREFER 737679506 376 8,777SH DEFINED
PPG INDS INC COMMON 693506107 7,138 135,632SH DEFINED
PRIMEX TECHNOLOGIES INC COMMON 741597108 2 50SH DEFINED
PROCTER & GAMBLE COMPANY COMMON 742718109 32,796 461,100SH DEFINED
PUBLIC SERVICE ENTERPRISE GROUP COMMON 744573106 7,973 202,800SH DEFINED
PUBLIC SVC ELEC GAS CO PREFER 744567306 2,686 36,800SH DEFINED
PUBLIC SVC ELEC GAS CO PREFER 744567405 2,199 28,380SH DEFINED
PUBLIC SVC ELEC GAS CO PREFER 744567504 552 6,200SH DEFINED
PUBLIC SVC ELEC GAS CO PREFER 744567603 928 9,670SH DEFINED
PUBLIC SVC ELEC GAS CO PREFER 744567702 1,197 12,400SH DEFINED
QLT PHOTOTHERAPEUTICS INC COMMON 746927102 38 3,000SH DEFINED
QUAKER OATS CO COMMON 747402105 6,492 106,650SH DEFINED
QUESTAR CORP COMMON 748356102 1,793 95,300SH DEFINED
RALSTON PURINA GROUP COMMON 751277302 1,910 62,500SH DEFINED
RAYTHEON CO COMMON 755111408 11,532 227,800SH DEFINED
READERS DIGEST ASSN INC COMMON 755267101 7,798 421,500SH DEFINED
REYNOLDS METALS CO COMMON 761763101 4,073 76,310SH DEFINED
ROCHESTER GAS ELEC CORP PREFER 771367307 513 7,183SH DEFINED
ROCHESTER GAS ELEC CORP PREFER 771367406 165 2,000SH DEFINED
ROCKWELL INTL CORP COMMON 773903109 3,040 80,000SH DEFINED
RUBBERMAID INC COMMON 781088109 9,668 406,000SH DEFINED
SAN DIEGO GAS ELEC CO PREFER 797440302 156 9,000SH DEFINED
SARA LEE CORP COMMON 803111103 4,273 78,400SH DEFINED
SBC COMMUNICATIONS INC COMMON 78387G103 17,710 424,200SH DEFINED
SCHERING PLOUGH CORP COMMON 806605101 27,358 270,200SH DEFINED
SCHERING-PLOUGH COMMON 806605101 23,195 223,700SH DEFINED
SCHLUMBERGER, LTD. COMMON 806857108 7,504 147,500SH DEFINED
SCHWAB CHARLES CORP NEW COMMON 808513105 2,238 55,000SH DEFINED
SEAGRAM LTD COMMON 811850106 784 25,000SH DEFINED
SEALED AIR CORP NEW COMMON 81211K100 1,220 37,187SH DEFINED
SEE AIR CORP PREFER 81211K209 1,271 33,562SH DEFINED
SERVICE CORP INTERNATIONAL COMMON 817565104 10,583 332,000SH DEFINED
SODEXHO MARRIOTT SVCS INC COMMON 833793102 113 4,000SH DEFINED
SOLUTIA INC COMMON 834376105 3 100SH DEFINED
SOUTHERN NEW ENGLAND TELECOM COMMON 843485103 4,292 59,000SH DEFINED
SOUTHWEST AIRLINES COMMON 844741108 16,038 792,000SH DEFINED
SPRINT CORP COMMON 852061100 34,378 445,023SH DEFINED
STAR BANC CORP COMMON 855083101 1,838 27,800SH DEFINED
SUNAMERICA INC COMMON 866930100 3,456 54,000SH DEFINED
SUNBEAM CORP COMMON 867071102 4 600SH DEFINED
SYSCO CORPORATION COMMON 871829107 8,904 377,900SH DEFINED
TELE COMMUNICATIONS INC COMMON 87924V101 6,923 172,500SH DEFINED
TENNECO INC NEW COMMON 88037E101 17 500SH DEFINED
TEXACO INC COMMON 881694103 13,181 215,635SH DEFINED
TEXAS UTILITIES COMPANY COMMON 882848104 13,871 297,900SH DEFINED
TEXAS UTILS CO COMMON 882848104 2,061 46,000SH DEFINED
TEXAS UTILS ELEC CO PREFER 882850506 227 2,800SH DEFINED
TEXAS UTILS ELEC CO PREFER 882850712 370 4,940SH DEFINED
TEXAS UTILS ELEC CO PREFER 882850753 240 3,550SH DEFINED
TEXAS UTILS ELEC CO PREFER 882850845 536 6,250SH DEFINED
TEXAS UTILS ELEC CO PREFER 882850878 1,254 18,565SH DEFINED
TIME WARNER INC COMMON 887315109 22,159 243,000SH DEFINED
TJX COMPANIES, INC COMMON 872540109 7,706 432,600SH DEFINED
TRAVELERS COMMON 894190107 8,573 213,000SH DEFINED
TRIBUNE COMMON 896047107 9,846 195,700SH DEFINED
TYCO INTERNATIONAL LTD COMMON 902124106 12,514 226,500SH DEFINED
UNION CAMP CORP COMMON 905530101 607 15,000SH DEFINED
UNION ELEC CO PREFER 906548300 366 5,864SH DEFINED
UNION ELEC CO PREFER 906548409 234 3,040SH DEFINED
UNION ELEC CO PREFER 906548607 2,915 33,500SH DEFINED
UNION PAC RES GROUP INC COMMON 907834105 153 11,192SH DEFINED
UNION PLANTERS CORP COMMON 908068109 995 21,406SH DEFINED
UNISYS CORP COMMON 909214108 19,482 781,200SH DEFINED
UNITED FIRE CAS CO COMMON 910331107 75,710 2,025,680SH DEFINED
UNUM CORP COMMON 903192102 10,330 207,900SH DEFINED
US BANCORP DEL COMMON 902973106 4,021 105,000SH DEFINED
US WEST INC COMMON 91273H101 5,059 95,915SH DEFINED
USA WASTE SERVICES INC COMMON 94106K200 10,691 219,313SH DEFINED
VIRGINIA ELEC PWR CO PREFER 927804302 1,534 21,485SH DEFINED
VIRGINIA ELEC PWR CO PREFER 927804500 1,803 21,684SH DEFINED
VIRGINIA ELEC PWR CO PREFER 927804633 4,374 40,000SH DEFINED
WACHOVIA CORP NEW COMMON 929771103 1,053 12,000SH DEFINED
WALGREEN COMPANY COMMON 931422109 20,696 469,700SH DEFINED
WAL-MART STORES, INCORP COMMON 931142103 43,667 799,400SH DEFINED
WALT DISNEY COMPANY COMMON 254687106 10,109 398,400SH DEFINED
WARNER LAMBERT CO COMMON 934488107 50,283 666,000SH DEFINED
WASHINGTON GAS LT CO COMMON 938837101 1,251 45,800SH DEFINED
WASHINGTON GAS LT CO PREFER 938837606 265 3,139SH DEFINED
WELLS FARGO CO COMMON 949740104 2,955 8,350SH DEFINED
WEST PENN PWR CO PREFER 955278205 1,166 16,625SH DEFINED
WEST PENN PWR CO PREFER 955278304 724 10,578SH DEFINED
WESTERN PENN WATER CO PREFER 9591887*8 20 227SH DEFINED
WESTERN RES INC PREFER 959425307 724 8,153SH DEFINED
WILLIAMS COS INC COMMON 969457100 9,098 313,000SH DEFINED
WISCONSIN PUB SVC CORP PREFER 976843300 945 10,743SH DEFINED
WISCONSIN PUB SVC CORP PREFER 976843409 570 6,430SH DEFINED
WISCONSIN PUB SVC CORP PREFER 976843508 2,714 25,900SH DEFINED
WISCONSIN PWR LT CO PREFER 976826206 433 5,680SH DEFINED
WISCONSIN PWR LT CO PREFER 976826404 206 2,500SH DEFINED
WISCONSIN PWR LT CO PREFER 976826503 382 4,597SH DEFINED
WISCONSIN PWR LT CO PREFER 976826602 424 4,938SH DEFINED
WORLD COLOR PRESS INC DEL COMMON 981443104 1,475 50,000SH DEFINED
WORLDCOM INC COMMON 98155K102 955 20,000SH DEFINED
WRIGLEY WM JR CO COMMON 982526105 931 12,100SH DEFINED
XEROX CORP COMMON 984121103 25,942 306,100SH DEFINED
346,195 7,443,738
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