ESTABROOK CAPITAL MANAGEMENT INC
13F-HR, 1999-04-19
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 13F

FORM 13F COVER PAGE

Report for the 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:          Estabrook Capital Management Inc.
Address:       430 Park Avenue, Suite 1800
               New York, NY 10022

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.

Person Signing this Report on Behalf of Reporting Manager:

Name:     Roy Y. Williamson
Title:    Secretary of the Corporation
Phone:    212 310-1133
Signature, Place, and Date of Signing:

Roy Y. Williamson   New York, NY   April 19, 1999

Report Type (Check only one.):

[X]  13F HOLDINGS REPORT
[ ]  13F NOTICE
[ ]  13F COMBINATION REPORT

List of Other Managers Reporting for this Manager:  None

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: None
Form 13F Information Table Entry Total:  206
Form 13F Information Table Value Total: $1,670,706,000

List of Other Included Managers:  N/A
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
<CAPTION>

                      Titl          Value  Share  Sh  Pu  Invs     Oth Votin           
                     e of                 s/     /   t/  tmt      er      g
                                                                   Autho
                                                                    rity
    Name of Issuer     Clas  Cusip   (x$100 Prn    Pr  Ca  Dscr MGR Mgr Sole   Shar None
                     s             0)     Amt    n   ll  etn      s         ed
    <S>                <C>   <C>     <C>    <C>       <C           <C> <C>              
                                                  >
D   ABBOTT LABS        COM   2824100   8767 18726 SH     Sole   1   0 19515   0  16775
                                              9                                   4
D   AFLAC INC          COM   1055102    340  6250 SH     Sole   1   0   800   0   5450
D   AIR PRODS & CHEMS  COM   9158106    306  8928 SH     Sole   1   0     0   0   8928
   INC
D   ALLIED IRISH BKS   COM   1922840   1083 10464 SH     Sole   1   0     0   0  10464
   P L                           2
D   ALLIED SIGNAL INC  COM   1951210  39912 81142 SH     Sole   1   0 14466   0  66676
                                 2            7                        0          7
D   ALLSTATE CORP      COM   2000210  12030 32459 SH     Sole   1   0 24954   0  29964
                                 1            4                                   0
D   ALZA CORP          COM   2261510   5867 15339 SH     Sole   1   0 12000   0  14139
                                 8            2                                   2
D   AMERICA ONLINE     COM   02364J1   1924 13090 SH     Sole   1   0 10000   0   3090
   INC                          04
D   AMERICAN EXPRESS   COM   2581610   1171  9943 SH     Sole   1   0  1143   0   8800
   CO                            9
D   AMERICAN           COM   2637510    234  9205 SH     Sole   1   0   400   0   8805
   GREETINGS CO                  5
D   AMERICAN HOME      COM   2660910  36373 55744 SH     Sole   1   0 10125   0  45618
   PRODS C                       7            1                        3          8
D   AMERICAN INTL      COM   2687410   5711 47349 SH     Sole   1   0  2832   0  44517
   GROUP I                       7
D   AMERITECH CORP     COM   3095410    324  5620 SH     Sole   1   0   400   0   5220
   NEW                           1
D   AMR CORP           COM   1765106    410  7000 SH     Sole   1   0     0   0   7000
D   AMSOUTH BANCORP    COM   3216510    228  5000 SH     Sole   1   0     0   0   5000
                                 2
D   ANADARKO PETE      COM   3251110    362  9600 SH     Sole   1   0     0   0   9600
   CORP                          7
D   APACHE CORP        COM   3741110    326 12500 SH     Sole   1   0     0   0  12500
                                 5
D   APCO ARGENTINA     COM   3748910    738 51800 SH     Sole   1   0 11700   0  40100
   INC                           1
D   ASSOCIATES FIRST   COM   4600810    228  5073 SH     Sole   1   0  1430   0   3643
   CAP                           8
D   AT & T CORP.       COM   1957109   4132 51768 SH     Sole   1   0  3590   0  48178
D   ATLANTIC           COM   4882510   1407 19242 SH     Sole   1   0   600   0  18642
   RICHFIELD CO                  3
D   ATLAS WATER WRTS   WRT         0      0 16602 SH     Sole   1   0     0   0  16602
D   AUTOMATIC DATA     COM   5301510   2351 56830 SH     Sole   1   0  2160   0  54670
   PROCES                        3
D   AVON PRODUCTS INC  COM   5430310   3050 64815 SH     Sole   1   0  2115   0  62700
                                 2
D   BAIRNCO CORP       COM   5709710    185 38850 SH     Sole   1   0     0   0  38850
                                 7
D   BANK NEW YORK INC  COM   6405710  68165 18967 SH     Sole   1   0 40526   0  14914
                                 2           55                        5         90
D   BANK ONE CORP      COM   06423A1   1261 22899 SH     Sole   1   0     0   0  22899
                                03
D   BANKAMERICA CORP   COM   06605F1  53267 75422 SH     Sole   1   0 10901   0  64521
   NEW                          02            8                        5          3
D   BANKBOSTON CORP.   COM   06605R1    229  5280 SH     Sole   1   0  1200   0   4080
                                06
D   BARD C R INC N J   COM   6738310   1302 25805 SH     Sole   1   0   780   0  25025
                                 9
D   BB&T CORPORATION   COM   5493710    298  8232 SH     Sole   1   0   232   0   8000
                                 7
D   BELL ATLANTIC      COM   7785310   3620 70036 SH     Sole   1   0  1360   0  68676
   CORP                          9
D   BELLSOUTH CORP     COM   7986010   3080 76884 SH     Sole   1   0  2680   0  74204
                                 2
D   BERKSHIRE          COM   8467010    500     7 SH     Sole   1   0     0   0      7
   HATHAWAY IN                   8
D   BERKSHIRE          COM   8467020   1053   448 SH     Sole   1   0    31   0    417
   HATHAWAY IN                   7
D   BESTFOODS          COM   08658U1    721 15330 SH     Sole   1   0  4200   0  11130
                                01
D   BJS WHSL CLUB INC  COM   05548J1    816 31000 SH     Sole   1   0     0   0  31000
                                06
D   BOEING CO          COM   9702310   1387 40804 SH     Sole   1   0     0   0  40804
                                 5
D   BP AMOCO ADS       COM   5562210   3036 30061 SH     Sole   1   0     0   0  30061
                                 4
D   BRISTOL MYERS      COM   1101221  47599 74228 SH     Sole   1   0 17878   0  56350
   SQUIBB                       08            5                        5          0
D   BROWNING FERRIS    COM   1158851    284  7377 SH     Sole   1   0   550   0   6827
   INDS                         05
D   BURLINGTON NORTHN  COM   12189T1  20572 62576 SH     Sole   1   0 13675   0  48901
   SAN                          04            4                        0          4
D   BURLINGTON         COM   1220141   4200 10516 SH     Sole   1   0 31002   0  74166
   RESOURCES                    03            8
D   CAMPBELL SOUP CO   COM   1344291    374  9194 SH     Sole   1   0  3100   0   6094
                                09
D   CARDINAL HEALTH    COM   14149Y1   7030 10651 SH     Sole   1   0  1739   0  10477
   INC.                         08            6                                   7
D   CHASE MANHATTAN    COM   16161A1   4437 54522 SH     Sole   1   0   690   0  53832
   CORPO                        08
D   CHEVRON CORP       COM   1667511  31453 35440 SH     Sole   1   0 48193   0  30620
                                07            0                                   7
D   CHITTENDEN CORP    COM   1702281  24234 90807 SH     Sole   1   0 21519   0  69288
                                00            9                        5          4
D   CINTAS CORP        COM   1729081   7091 10846 SH     Sole   1   0   200   0  10826
                                05            0                                   0
D   CISCO SYS INC      COM   17275R1  26210 23922 SH     Sole   1   0  8105   0  23111
                                02            0                                   5
D   CITICORP CAP III   PFR   17303U2    202  8000 SH     Sole   1   0  2000   0   6000
   7.10                         00
D   CITIGROUP CAP I    PFR   17305F2    580 22700 SH     Sole   1   0     0   0  22700
   TR PF                        01
D   CITIGROUP INC.     COM   1729671  33079 51786 SH     Sole   1   0 66075   0  45179
                                01            6                                   1
D   CLOROX CO          COM   1890541    714  6091 SH     Sole   1   0   975   0   5116
                                09
D   COCA COLA CO       COM   1912161   5585 90998 SH     Sole   1   0  9855   0  81143
                                00
D   COLGATE PALMOLIVE  COM   1941621    834  9065 SH     Sole   1   0  5330   0   3735
   CO                           03
D   COMMUNITY SVGS     COM   2040371    989 79157 SH     Sole   1   0     0   0  79157
   BNKSHS                       05
D   COMPAQ COMPUTER    COM   2044931  26612 83981 SH     Sole   1   0 10999   0  72982
   CORP                         00            6                        0          6
D   CONSOLIDATED       COM   2091151    215  4752 SH     Sole   1   0     0   0   4752
   EDISON I                     04
D   CORNING INC        COM   2193501   1112 18540 SH     Sole   1   0  2400   0  16140
                                05
D   CSX CORP           COM   1264081    677 17393 SH     Sole   1   0  1300   0  16093
                                03
D   DAIMLERCHRYSLER    COM   D1668R1    296  3449 SH     Sole   1   0     0   0   3449
   AG OR                        23
D   DAYTON HUDSON      COM   2397531   1221 18320 SH     Sole   1   0   545   0  17775
   CORP                         06
D   DELL COMPUTER      COM   2470251    430 10520 SH     Sole   1   0     0   0  10520
   CORP                         09
D   DEVRY INC          COM   2518931  14812 51075 SH     Sole   1   0     0   0  51075
                                03            0                                   0
D   DISNEY (WALT)      COM   2546871   1078 34645 SH     Sole   1   0   184   0  34461
   PRODUCT                      06
D   DOVER CORP         COM   2600031   1176 35775 SH     Sole   1   0 20075   0  15700
                                08
D   DOW CHEMICAL CORP  COM   2605431    340  3645 SH     Sole   1   0   665   0   2980
                                03
D   DU PONT E I DE     COM   2635341   1190 20494 SH     Sole   1   0  2200   0  18294
   NEMOUR                       09
D   DUKE PWR CO        COM   2643991    273  4978 SH     Sole   1   0   500   0   4478
                                06
D   DUN & BRADSTREET   COM   26483B1   7193 20191 SH     Sole   1   0 58900   0  14301
   CORP                         06            9                                   9
D   E M C CORP MASS    COM   2686481  19012 14882 SH     Sole   1   0  7000   0  14182
                                02            5                                   5
D   EASTMAN KODAK      COM   2774611   9017 14116 SH     Sole   1   0 23515   0  11764
                                09            0                                   5
D   EMERSON ELEC CO    COM   2910111   6043 11415 SH     Sole   1   0 30170   0  83985
                                04            5
D   ERICSSON L M TEL   COM   2948214    307 12900 SH     Sole   1   0   600   0  12300
   CO A                         00
D   EXXON CORP         COM   3022901  20632 29239 SH     Sole   1   0 47169   0  24522
                                01            6                                   7
D   FDX CORPORATION    COM   31304N1   5575 59950 SH     Sole   1   0     0   0  59950
                                07
D   FEDERAL NAT        COM   3135861    423  6105 SH     Sole   1   0   810   0   5295
   MORTGAGE                     09
D   FIRST ALBANY COS   COM   3184651    156 13461 SH     Sole   1   0     0   0  13461
   INC                          01
D   FIRST UNION CORP   COM   3373581   3919 73330 SH     Sole   1   0 11227   0  62103
                                05
D   FLEET FINL GROUP   COM   3389151    925 24582 SH     Sole   1   0  1400   0  23182
   INC                          01
D   FLORIDA ROCK INDS  COM   3411401  29640 86856 SH     Sole   1   0 18527   0  68329
   INC                          01            5                        5          0
D   FORD MOTOR         COM   3453701   1357 23941 SH     Sole   1   0  4310   0  19631
                                00
D   FRP PPTYS INC      COM   30262E1   3939 17125 SH     Sole   1   0 57000   0  11425
                                09            0                                   0
D   GANNETT INC DEL    COM   3647301   1022 16220 SH     Sole   1   0   320   0  15900
                                01
D   GENERAL ELECTRIC   COM   3696041  76966 69573 SH     Sole   1   0 10440   0  59133
   COMP                         03            9                        6          3
D   GENERAL ELECTRIC   COM   3696393    139 15000 SH     Sole   1   0     0   0  15000
   PLC                          07
D   GENERAL MOTORS     COM   3704428    634 12574 SH     Sole   1   0     0   0  12574
   CLASS                        32
D   GENERAL MTRS CORP  COM   3704421    360  4137 SH     Sole   1   0   155   0   3982
                                05
D   GENLYTE GROUP INC  COM   3723021   4790 29935 SH     Sole   1   0 80000   0  21935
                                09            0                                   0
D   GENUINE PARTS CO   COM   3724601    509 17678 SH     Sole   1   0  1510   0  16168
                                05
D   GEORGIA PAC CORP   COM   3732981    813 10944 SH     Sole   1   0     0   0  10944
                                08
D   GILLETTE CO        COM   3757661   1444 24301 SH     Sole   1   0   770   0  23531
                                02
D   GLAXO PLC          COM   37733W1   1454 21720 SH     Sole   1   0     0   0  21720
                                05
D   GTE CORP           COM   3623201   1777 29373 SH     Sole   1   0    75   0  29298
                                03
D   GUIDANT CORP       COM   4016981    522  8628 SH     Sole   1   0  4688   0   3940
                                05
D   GULFMARK OFFSHORE  COM   4026291  18333 15357 SH     Sole   1   0 36767   0  11680
   INC                          09           53                        5         78
D   HALLIBURTON CO     COM   4062161    237  6147 SH     Sole   1   0   160   0   5987
                                01
D   HEINZ H J CO       COM   4230741  22142 46738 SH     Sole   1   0 84330   0  38305
                                03            2                                   2
D   HERSHEY FOODS      COM   4278661   1047 18670 SH     Sole   1   0   870   0  17800
   CORP                         08
D   HEWLETT PACKARD    COM   4282361  58454 86200 SH     Sole   1   0 14722   0  71477
   CO                           03            2                        6          6
D   HILLENBRAND INDS   COM   4315731    473 10235 SH     Sole   1   0   955   0   9280
   INC                          04
D   HOME DEPOT INC     COM   4370761   1757 28220 SH     Sole   1   0 15550   0  12670
                                02
D   HUBCO INC          COM   4043821    526 15679 SH     Sole   1   0     0   0  15679
                                03
D   IMS HEALTH INC     COM   4499341  14782 44624 SH     Sole   1   0 65600   0  38064
                                08            1                                   1
D   INTEL CORP         COM   4581401  52563 88434 SH     Sole   1   0 10650   0  77784
                                00            3                        2          1
D   INTERNATIONAL      COM   4592001   6372 35950 SH     Sole   1   0  1931   0  34019
   BUSINES                      01
D   JOHNSON & JOHNSON  COM   4781601  45457 48617 SH     Sole   1   0 90723   0  39545
                                04            4                                   1
D   K MART CORP        COM   4825841    640 38050 SH     Sole   1   0 21100   0  16950
                                09
D   KAYDON CORP        COM   4865871  42947 14841 SH     Sole   1   0 33560   0  11485
                                08           29                        5         24
D   KELLOGG CO         COM   4878361    375 11100 SH     Sole   1   0  8100   0   3000
                                08
D   KEYSPAN ENERGY     COM   49337K1   2121 84402 SH     Sole   1   0 30950   0  53452
   CORP                         06
D   KIMBERLY CLARK     COM   4943681    303  6327 SH     Sole   1   0   400   0   5927
   CORP                         03
D   KIMCO RLTY CORP    COM   49446R1    233  6325 SH     Sole   1   0     0   0   6325
                                09
D   LILLY ELI & CO     COM   5324571  51995 61260 SH     Sole   1   0 13049   0  48210
                                08            4                        5          9
D   LOCKHEED MARTIN    COM   5398301    495 13112 SH     Sole   1   0     0   0  13112
   CORP                         09
D   LUCENT             COM   5494631  22877 42365 SH     Sole   1   0 53954   0  36969
   TECHNOLOGIES I               07            2                                   8
D   MARSH MCLENNAN     COM   5717481   1841 24800 SH     Sole   1   0   825   0  23975
                                02
D   MASCO CORP         COM   5745991    921 32600 SH     Sole   1   0     0   0  32600
                                06
D   MCCORMICK & CO     COM   5797802    274  9450 SH     Sole   1   0     0   0   9450
   INC                          06
D   MCDONALDS CORP     COM   5801351    979 21616 SH     Sole   1   0     0   0  21616
                                01
D   MCGRAW HILL INC    COM   5806451   2477 45444 SH     Sole   1   0  8660   0  36784
                                09
D   MCI WORLDCOM       COM   55268B1  16403 18521 SH     Sole   1   0  6848   0  17836
                                06            5                                   7
D   MEDTRONIC INC      COM   5850551    966 13438 SH     Sole   1   0   674   0  12764
                                06
D   MELLON BANK CORP   COM   5855091   1714 24358 SH     Sole   1   0     0   0  24358
                                02
D   MERCK & CO         COM   5893311  36961 46129 SH     Sole   1   0 11472   0  34657
                                07            5                        0          5
D   MERCURY GEN CORP   COM   5894001    635 18200 SH     Sole   1   0   200   0  18000
   NEW                          00
D   MERIT MED SYS INC  COM   5898891    876 15242 SH     Sole   1   0     0   0  15242
   COM                          04            4                                   4
D   MERRILL LYNCH &    COM   5901881    220  2488 SH     Sole   1   0   552   0   1936
   CO. I                        08
D   MESABI TR CTF BEN  COM   5906721     39 13000 SH     Sole   1   0 13000   0      0
   INT                          01
D   MICROSOFT CORP     COM   5949181   5377 59996 SH     Sole   1   0   706   0  59290
                                04
D   MILLENNIUM         COM   5999031  10227 51455 SH     Sole   1   0 14250   0  37205
   CHEMICALS                    01            0                        0          0
D   MINNESOTA MNG &    COM   6040591   2315 32717 SH     Sole   1   0   600   0  32117
   MFG C                        05
D   MOBIL CORP         COM   6070591  10705 12165 SH     Sole   1   0  9490   0  11216
                                02            1                                   1
D   MORGAN J.P. & CO   COM   6168801  15916 12900 SH     Sole   1   0 16725   0  11228
   INC                          00            7                                   2
D   MORGAN STANLEY     COM   6174464   5264 52677 SH     Sole   1   0     0   0  52677
   DEAN W                       48
D   MOTOROLA INC       COM   6200761  12281 16765 SH     Sole   1   0 35200   0  13245
                                09            2                                   2
D   NEWELL RUBBERMAID  COM   6512291   1417 29837 SH     Sole   1   0   400   0  29437
   INC                          06
D   NIELSEN MEDIA      COM   6539293    457 18504 SH     Sole   1   0  2365   0  16139
   RESEARC                      07
D   NOBLE DRILLING     COM   6550421   1996 11487 SH     Sole   1   0 22845   0  92029
   CORP                         09            4
D   NOKIA CORP         COM   6549022  64043 82238 SH     Sole   1   0 12003   0  70235
   SPONSORED                    04            6                        0          6
D   NORTH FORK         COM   6594241    232 11000 SH     Sole   1   0     0   0  11000
   BANCORP IN                   05
D   NORTHROP GRUMMAN   COM   6668071    474  7920 SH     Sole   1   0     0   0   7920
   CORP                         02
D   OMNICOM GROUP      COM   6819191    975 12200 SH     Sole   1   0     0   0  12200
                                06
D   P P & L RES INC    COM   6934991    210  8500 SH     Sole   1   0     0   0   8500
                                05
D   PAMRAPO BANCORP    COM   6977381    283 12000 SH     Sole   1   0     0   0  12000
   INC                          02
D   PARTNERRE HLDGS    COM   G6852T1    316  7800 SH     Sole   1   0     0   0   7800
   LTD                          05
D   PAYCHEX INC        COM   7043261    348  7346 SH     Sole   1   0     0   0   7346
                                07
D   PENN TREATY        CNV   707874A    250 25000 SH     Sole   1   0     0   0  25000
   AMERICAN                     B9            0                                   0
D   PEPSICO INC        COM   7134481   2357 60141 SH     Sole   1   0  3505   0  56636
                                08
D   PFIZER INC         COM   7170811  27157 19572 SH     Sole   1   0  5580   0  19014
                                03            6                                   6
D   PHARMACIA &        COM   7169411    658 10555 SH     Sole   1   0     0   0  10555
   UPJOHN, I                    09
D   PHILLIPS PETE CO   COM   7185071  22768 48187 SH     Sole   1   0 12487   0  35699
                                06            0                        5          5
D   PITNEY BOWES INC   COM   7244791   2030 31850 SH     Sole   1   0  8450   0  23400
                                00
D   PNC BANK CORP      COM   6934751  47385 85283 SH     Sole   1   0 21146   0  64137
                                05            2                        0          2
D   PPG INDS INC       COM   6935061    623 12165 SH     Sole   1   0     0   0  12165
                                07
D   PRAXAIR INC        COM   74005P1    512 14200 SH     Sole   1   0   600   0  13600
                                04
D   PROCTER & GAMBLE   COM   7427181   3781 38610 SH     Sole   1   0  1105   0  37505
   CO                           09
D   R & B FALCON CORP  COM   74912E1    798 92575 SH     Sole   1   0 52900   0  39675
                                01
D   RAYTHEON CO CL B   COM   7551114    405  6900 SH     Sole   1   0   400   0   6500
                                08
D   REGIONS FINL CORP  COM   7589401    862 24882 SH     Sole   1   0     0   0  24882
                                00
D   RH DONNELLEY CORP  COM   74955W3    259 16760 SH     Sole   1   0  5700   0  11060
                                07
D   RITE AID CORP      COM   7677541   4227 16908 SH     Sole   1   0  7850   0  16123
                                04            9                                   9
D   ROYAL DUTCH PETRO- COM   7802578  25051 48175 SH     Sole   1   0 88181   0  39357
   NY                           04            9                                   8
D   SAFEWAY INC NEW    COM   7865142    347  6754 SH     Sole   1   0   856   0   5898
                                08
D   SARA LEE CORP      COM   8031111   1598 64560 SH     Sole   1   0 17050   0  47510
                                03
D   SBC                COM   78387G1   5745 12174 SH     Sole   1   0  4346   0  11740
   COMMUNICATIONS, I            03            7                                   1
D   SCHERING PLOUGH    COM   8066051  10941 19802 SH     Sole   1   0 53006   0  14501
   CORP                         01            1                                   5
D   SCHLUMBERGER       COM   8068571   1716 28510 SH     Sole   1   0   573   0  27937
                                08
D   SEARS ROEBUCK &    COM   8123871  17351 38398 SH     Sole   1   0 72200   0  31178
   CO                           08            7                                   7
D   SONOCO PRODUCTS    COM   8354951  14914 64843 SH     Sole   1   0 16589   0  48254
                                02            3                        2          1
D   SOUTHTRUST CORP    COM   8447301    518 13875 SH     Sole   1   0  3000   0  10875
                                01
D   SPRINT CORP        COM   8520611    436  4439 SH     Sole   1   0   500   0   3939
                                00
D   SPX CORP           COM   7846351    301  5961 SH     Sole   1   0     0   0   5961
                                04
D   STAPLES INC        COM   8550301    574 17461 SH     Sole   1   0     0   0  17461
                                02
D   STRYKER CORP       COM   8636671    835 16560 SH     Sole   1   0   860   0  15700
                                01
D   SUMMIT BANCORP     COM   8660051  11903 30521 SH     Sole   1   0 19800   0  28541
                                01            1                                   1
D   SUN MICROSYSTEM    COM   8668101  69489 11112 SH     Sole   1   0 14467   0  96660
   INC                          04           76                        0          6
D   SUPERVALU INC      COM   8685361    495 24000 SH     Sole   1   0     0   0  24000
                                03
D   SYSCO CORP         COM   8718291   1708 64900 SH     Sole   1   0 18600   0  46300
                                07
D   TANDY CORP         COM   8753821    375  5880 SH     Sole   1   0     0   0   5880
                                03
D   TECO ENERGY INC    COM   8723751    306 15400 SH     Sole   1   0     0   0  15400
                                00
D   TELEFONICA DE      COM   8793822   5224 40896 SH     Sole   1   0    76   0  40820
   ESPANA                       08
D   TEMPLE INLAND INC  COM   8798681    502  8000 SH     Sole   1   0     0   0   8000
                                07
D   TERRA NOVA         COM   G876151    656 30000 SH     Sole   1   0     0   0  30000
   BERMUDA HL                   03
D   TEXACO INC         COM   8816941  10420 18361 SH     Sole   1   0 21185   0  16243
                                03            5                                   0
D   TORCHMARK CORP     COM   8910271    384 12130 SH     Sole   1   0     0   0  12130
                                04
D   TRAVELERS P&C CAP  PFR   8939312    277 10900 SH     Sole   1   0  6900   0   4000
   I P                          04
D   TRW INC            COM   8726491   1376 30243 SH     Sole   1   0  8550   0  21693
                                08
D   TYCO INTL LTD NEW  COM   9021241   1023 14251 SH     Sole   1   0     0   0  14251
                                06
D   UNILEVER N V       COM   9047845    259  3900 SH     Sole   1   0     0   0   3900
                                01
D   UNION PAC CORP     COM   9078181  16861 31553 SH     Sole   1   0 70400   0  24513
                                08            0                                   0
D   UNITED             COM   9130171  27574 20359 SH     Sole   1   0 44945   0  15864
   TECHNOLOGIES C               09            0                                   5
D   UNOCAL CORP        COM   9152891   1964 53255 SH     Sole   1   0  3900   0  49355
                                02
D   WAL MART STORES    COM   9311421   1580 17140 SH     Sole   1   0  1340   0  15800
   INC                          03
D   WALGREEN CO        COM   9314221    862 30500 SH     Sole   1   0 14300   0  16200
                                09
D   WALTER INDS INC    COM   93317Q1    172 15267 SH     Sole   1   0     0   0  15267
                                05
D   WARNER LAMBERT CO  COM   9344881   1382 20867 SH     Sole   1   0  1880   0  18987
                                07
D   WASHINGTON MUT     COM   9393221    748 18288 SH     Sole   1   0   290   0  17998
   INC                          03
D   WEATHERFORD        COM   9470741  25614 98043 SH     Sole   1   0 26006   0  72037
   INTERNATI                    00            4                        4          0
D   WEINGARTEN REALTY  COM   9487411    238  6000 SH     Sole   1   0     0   0   6000
   INC                          03
D   WELLS FARGO NEW    COM   9497461    333  9501 SH     Sole   1   0   655   0   8846
                                01
D   WENDYS             COM   9505901  20391 71705 SH     Sole   1   0 14342   0  57362
   INTERNATIONAL                09            0                        5          5
D   WRIGLEY WM JR CO   COM   9825261   1387 15335 SH     Sole   1   0  1075   0  14260
                                05
D   XEROX CORP         COM   9841211   1249 23970 SH     Sole   1   0   200   0  23770
                                03
D   XL CAPITAL LTD.    COM   G982551    623 10260 SH     Sole   1   0  2041   0   8219
                                05



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