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Previous: MERCANTILE BANCORPORATION INC, 10-Q, 1994-08-15 |
Next: MERRILL LYNCH & CO INC, 8-A12B, 1994-08-15 |
<TABLE>
<C> <C>
<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/94
Institutional Investment Manager:
MERCANTILE BANKSHARES CORPORATION
2 HOPKINS PLAZA
BALTIMORE MD 21203
I REPRESENT THAT I AM AUTHORIZED TO SUBMIT THIS FORM AND THAT ALL INFORMATION
IN THIS FORM AND THE ATTACHMENTS TO IT IS TRUE, CORRECT AND COMPLETE AND I
UNDERSTAND THAT ALL REQUIRED ITEMS, STATEMENTS AND SCHEDULES ARE INTEGRAL
PARTS OF THIS FORM AND THAT THE SUBMISSION OF ANY AMENDMENT REPRESENTS THAT
ALL UNAMENDED ITEMS, STATEMENTS AND SCHEDULES REMAIN TRUE, CORRECT AND
COMPLETE AS PREVIOUSLY SUBMITTED.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
Name, Title and Telephone Number of Person Submitting Report:
JOHN A. O'CONNOR, JR. SR. VICE PRESIDENT & SECRETA 410-237-5204
Signature, Place and Date of Signing:
/s/ JOHN A. O'CONNOR, JR. BALTIMORE MD 8/10/94
Other Managers on Whose Behalf this Report is Filed:
01 FREDERICKTOWN BANK & TRUST
02 MERCANTILE-SAFE DEPOSIT & TRUST COMPANY 028-00125
<PAGE> PAGE 2
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
GOLDEN RESOURCES DEVELOPMENT COM G3958K104 25 132000 SH DEFINED 02 0 0 132000
GUINNESS PLC COM G42084114 81 12000 SH DEFINED 02 0 12000 0
ABN AMRO HLDG N V COM 000937102 1815 55000 SH DEFINED 02 55000 0 0
ALC COMMUNICATIONS CORP COM 001575307 722 23500 SH DEFINED 02 0 0 23500
AT&T CORP COM 001957109 16009 294432 SH DEFINED 02 82173 115099 97160
ABBOTT LABS COM 002824100 6664 229794 SH DEFINED 02 45848 88774 95172
A W SISK & CO COM 002990208 299 20305 SH DEFINED 02 0 20305 0
ACUSON COM 005113105 588 44800 SH DEFINED 02 36300 5900 2600
ADVANCED TECHNOLOGY LABS INC COM 00755N106 185 14525 SH DEFINED 02 975 280 13270
CORESOURCE INC COM 007990104 187 187500 SH DEFINED 02 187500 0 0
CORESOURCE INC PFD 007990120 937 937500 SH DEFINED 02 937500 0 0
AETNA LIFE & CAS CO COM 008140105 1722 30827 SH DEFINED 02 10204 10905 9718
AIR PRODS & CHEMS INC COM 009158106 12019 283647 SH DEFINED 02 141596 100629 41422
AIRTOUCH COMMUNICATIONS COM 00949T100 9769 413525 SH DEFINED 02 202009 117629 93887
ALBAN CO PFD 012997110 0 281523 SH DEFINED 02 0 281523 0
ALBAN CO COM 012997102 0 12500 SH DEFINED 02 0 12500 0
ALBERTSON'S INC COM 013104104 220 8000 SH DEFINED 02 0 6400 1600
ALCAN ALUM LTD NEW COM 013716105 380 16744 SH DEFINED 02 9756 850 6138
ALCO STD CORP COM 013788104 1955 34228 SH DEFINED 02 300 7815 26113
ALCO STD CORP CPF 013788500 291 4358 PRN DEFINED 02 50 750 3558
ALEX BROWN INC COM 013902101 383 15507 SH DEFINED 02 0 15507 0
ALEXANDER & ALEXANDER SVCS INC SUB 014476AA3 4 4000 PRN DEFINED 02 4000 0 0
ALEXANDER & ALEXANDER SVCS INC COM 014476105 198 12200 SH DEFINED 02 12100 100 0
ALLEGHENY PWR SYS INC COM 017411109 376 17906 SH DEFINED 02 4000 12106 1800
ALLERGAN INC COM 018490102 241 11180 SH DEFINED 02 3834 5946 1400
ALLIANCE FD COM 01859K105 86 13485 SH DEFINED 02 0 244 13241
ALLIED SIGNAL INC COM 019512102 533 15418 SH DEFINED 02 2042 12860 516
ALLMERICA PPTY & CAS COS INC COM 01975T105 180 10800 SH DEFINED 02 0 10800 0
ALLSTATE CORP COM 020002101 689 29050 SH DEFINED 02 6300 15700 7050
ALLTRISTA CORP COM 020040101 277 15210 SH DEFINED 02 0 15100 110
ALUMINUM CO AMER COM 022249106 5927 81057 SH DEFINED 02 57129 17533 6395
AMERADA HESS CORP COM 023551104 790 16043 SH DEFINED 02 2600 10306 3137
AMERICAN ASIATIC OIL CORP COM 023879109 0 200000 SH DEFINED 02 0 90000 110000
AMERICAN BRANDS INC COM 024703100 2132 67436 SH DEFINED 02 23432 26546 17458
AMERICAN CYANAMID CO COM 025321100 1274 22761 SH DEFINED 02 7510 7044 8207
AMERICAN ELEC PWR INC COM 025537101 438 15527 SH DEFINED 02 3820 10357 1350
AMERICAN EXPRESS CO COM 025816109 409 15885 SH DEFINED 02 4629 1804 9452
AMERICAN EXPRESS CO COM 025816109 747 29029 SH DEFINED 02 7638 12383 9008
AMERICAN GENERAL CORP COM 026351106 7100 257031 SH DEFINED 02 62592 156358 38081
AMERICAN GREETINGS CORP COM 026375105 576 19200 SH DEFINED 02 1500 0 17700
AMERICAN HOME PRODS CORP COM 026609107 58072 1023306 SH DEFINED 02 483676 317819 221811
AMERICAN INTL GROUP INC COM 026874107 8251 95250 SH DEFINED 02 39150 33232 22868
AMERITECH CORP NEW COM 030954101 25453 667638 SH DEFINED 02 349097 168914 149627
AMGEN INC COM 031162100 873 20375 SH DEFINED 02 17450 2300 625
AMOCO CDA PETE CO SUB 031678AC9 162 137000 PRN DEFINED 02 108000 1000 28000
AMP INC COM 031897101 33029 478691 SH DEFINED 02 239613 136884 102194
AMOCO CORP COM 031905102 50132 881449 SH DEFINED 02 484474 228904 168071
AMSOUTH BANCORPORATION COM 032165102 458 14605 SH DEFINED 02 0 0 14605
ANHEUSER BUSCH COS INC COM 035229103 824 16247 SH DEFINED 02 550 5668 10029
AON CORP COM 037389103 489 14448 SH DEFINED 02 504 5388 8556
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
APPLE COMPUTER INC COM 037833100 17317 653489 SH DEFINED 02 449724 55075 148690
APPLIED MATLS INC COM 038222105 406 9500 SH DEFINED 02 0 0 9500
ARCHER DANIELS MIDLAND CO COM 039483102 824 35294 SH DEFINED 02 651 10849 23794
ASEA AB COM 043655307 4564 61265 SH DEFINED 02 32100 19325 9840
ATLANTA GAS LT CO COM 047753108 648 19158 SH DEFINED 02 8177 8364 2617
ATLANTIC RICHFIELD CO COM 048825103 36011 352195 SH DEFINED 02 207228 88037 56930
AURA SYS INC COM 051526101 156 18000 SH DEFINED 02 0 0 18000
AUTODESK INC COM 052769106 7078 143000 SH DEFINED 02 97225 18550 27225
AUTOMATIC DATA PROCESSING INC COM 053015103 276 5200 SH DEFINED 02 4400 600 200
AUTOZONE INC COM 053332102 229 9400 SH DEFINED 02 0 0 9400
AVERY DENNISON CORP COM 053611109 628 21686 SH DEFINED 02 11900 6286 3500
AVNET INC SUB 053807AB9 696 709000 PRN DEFINED 02 565000 30000 114000
AVNET INC COM 053807103 558 17732 SH DEFINED 02 10600 5100 2032
AUTOMOTIVE CASUALTY ASSURANCE COM 053990503 20 70455 SH DEFINED 02 70455 0 0
BAKER HUGHES INC COM 057224107 618 30171 SH DEFINED 02 21775 2176 6220
BALTIMORE CEMETERY COMPANY COM 058991100 1755 58500 SH DEFINED 02 58500 0 0
BALTIMORE GAS & ELEC CO COM 059165100 16539 778330 SH DEFINED 02 252033 287578 238719
BALTIMORE RADIO SHOW INC COM 059275107 0 10578 SH DEFINED 02 0 10578 0
BANC ONE CORP COM 059438101 311 9083 SH DEFINED 02 381 4431 4271
BANKAMERICA CORP COM 066050105 364 7978 SH DEFINED 02 4026 2580 1372
BANTA CORP COM 066821109 243 7600 SH DEFINED 02 0 650 6950
BARD C R INC COM 067383109 453 19005 SH DEFINED 02 16805 2200 0
BARNES & NOBLE INC COM 067774109 638 26600 SH DEFINED 02 0 900 25700
BARNETT BKS INC COM 068055102 5242 119823 SH DEFINED 02 88098 17700 14025
BARNETT BKS INC CPF 068055300 1593 18750 PRN DEFINED 02 14050 900 3800
BAUSCH & LOMB INC COM 071707103 307 8300 SH DEFINED 02 600 6900 800
BAXTER INTL INC COM 071813109 1292 49250 SH DEFINED 02 11279 20759 17212
BEARINGS INC NEW COM 074005208 1764 55562 SH DEFINED 02 37950 12125 5487
BECKMAN INSTRS INC COM 075816108 1583 62700 SH DEFINED 02 52961 5512 4227
BECTON DICKINSON & CO COM 075887109 727 17800 SH DEFINED 02 1400 11800 4600
BELL ATLANTIC CORP COM 077853109 45688 815867 SH DEFINED 02 441836 202160 171871
BELLSOUTH CORP COM 079860102 36698 594305 SH DEFINED 02 324320 121661 148324
BEMIS INC COM 081437105 209 9400 SH DEFINED 02 0 0 9400
BENEFICIAL CORP COM 081721102 669 18330 SH DEFINED 02 12674 4056 1600
BERKSHIRE HATHAWAY INC DEL COM 084670108 45852 2848 SH DEFINED 02 0 842 2006
BETZ LABS INC COM 087779104 3634 85764 SH DEFINED 02 67064 5300 13400
BIOWHITTAKER INC COM 09066T108 91 14700 SH DEFINED 02 0 14700 0
BLACK & DECKER CORP COM 091797100 531 30813 SH DEFINED 02 12487 9847 8479
BLOCK H & R INC COM 093671105 651 16600 SH DEFINED 02 900 2900 12800
BOEING CO COM 097023105 7423 160511 SH DEFINED 02 96475 36188 27848
BOISE CASCADE CORP SUB 097383AK9 56 70000 PRN DEFINED 02 50000 0 20000
BORDEN INC COM 099599102 7506 606558 SH DEFINED 02 345846 57363 203349
BOSTON METALS COMPANY NON-VTG COM 100990100 2288 73815 SH DEFINED 02 0 0 73815
CHARLES T. BRANDT INC COM 104995105 358 73 SH DEFINED 02 0 73 0
BRANDYWINE FD INC COM 10532D107 600 25619 SH DEFINED 02 0 25619 0
BRISTOL MYERS SQUIBB CO COM 110122108 69307 1292446 SH DEFINED 02 548862 221510 522074
BRITISH PETE LTD COM 110889409 16085 224185 SH DEFINED 02 181325 13675 29185
BRITISH TELECOMMUNICATIONS COM 111021408 242 4300 SH DEFINED 02 1800 2500 0
BROOKLYN UN GAS CO COM 114259104 8011 328684 SH DEFINED 02 234825 50999 42860
BROWN & SHARPE MFG CO SUB 115223AA7 5 5000 PRN DEFINED 02 5000 0 0
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
BROWNING FERRIS INDS INC SUB 115885AF2 24 25000 PRN DEFINED 02 0 0 25000
BROWNING FERRIS INDS INC COM 115885105 223 7369 SH DEFINED 02 3100 0 4269
BUILDERS TRANS INC SUB 120084AA6 273 300000 PRN DEFINED 02 190000 0 110000
BURLINGTON NORTHERN INC COM 121897102 380 7130 SH DEFINED 02 3700 3330 100
BURLINGTON RES INC COM 122014103 526 12718 SH DEFINED 02 1000 10303 1415
BURMAH CASTROL PLC COM 122169303 204 7575 SH DEFINED 02 0 5670 1905
BUTTONWOOD PARTNERS L P SUB 124991100 11 3 PRN DEFINED 02 0 3 0
CIGNA CORP SUB 125509AB5 49 45000 PRN DEFINED 02 0 0 45000
CIGNA CORP COM 125509109 1264 17326 SH DEFINED 02 8074 2262 6990
CPC INTL INC COM 126149103 9679 200610 SH DEFINED 02 85960 79719 34931
CSX CORP COM 126408103 2733 36210 SH DEFINED 02 11138 15743 9329
CUC INTL INC COM 126545102 440 16300 SH DEFINED 02 0 0 16300
CAMCO INTL INC COM 132632100 578 28400 SH DEFINED 02 0 0 28400
CAPITAL CITIES ABC INC COM 139859102 796 11200 SH DEFINED 02 0 3200 8000
CARNIVAL CORP CL A COM 143658102 433 9800 SH DEFINED 02 0 0 9800
CAROLINA PWR & LT CO COM 144141108 388 16784 SH DEFINED 02 2900 10614 3270
CATERPILLAR INC COM 149123101 22199 221997 SH DEFINED 02 142688 14876 64433
CEDAAR FAIR L P COM 150185106 225 7000 SH DEFINED 02 0 2000 5000
CENTRAL & SOUTH WEST CORP COM 152357109 496 23349 SH DEFINED 02 6949 8500 7900
CENTURY TEL ENTERPRISES INC COM 156686107 664 25700 SH DEFINED 02 0 0 25700
CETUS CORP SUB 157199AA8 332 405000 PRN DEFINED 02 276000 0 129000
CHEMICAL BKG CORP COM 163722101 213 5547 SH DEFINED 02 1570 1852 2125
CHEVRON CORP COM 166751107 33893 809406 SH DEFINED 02 454892 150192 204322
CHRYSLER CORP COM 171196108 456 9615 SH DEFINED 02 5500 640 3475
CHUBB CORP COM 171232101 31377 409499 SH DEFINED 02 240700 57560 111239
CHUBB CAP CORP SUB 171990AB0 248 240000 PRN DEFINED 02 115000 0 125000
CIRCUIT CITY STORES INC COM 172737108 354 17300 SH DEFINED 02 5900 2000 9400
CISCO SYS INC COM 17275R102 251 10750 SH DEFINED 02 6000 200 4550
CITICORP COM 173034109 582 14608 SH DEFINED 02 1040 7520 6048
CLUB CAR INC COM 18947B103 556 42000 SH DEFINED 02 0 0 42000
COASTAL CORP COM 190441105 236 8770 SH DEFINED 02 7700 1070 0
COCA COLA CO COM 191216100 42328 1041923 SH DEFINED 02 474674 377560 189689
COLGATE PALMOLIVE CO COM 194162103 3567 68287 SH DEFINED 02 26504 26300 15483
COLLEGE MANOR INC COM 194990305 517 326 SH DEFINED 02 0 326 0
COLUMBIA FIXED INCOME SECS FD COM 197643109 3095 247628 SH DEFINED 02 247628 0 0
COLUMBIA / HCA HEALTHCARE COM 197677107 1598 42636 SH DEFINED 02 10254 32382 0
COMCAST CORP COM 200300200 450 25000 SH DEFINED 02 0 2250 22750
COMERICA INC COM 200340107 707 25060 SH DEFINED 02 9910 0 15150
COMMONWEALTH EDISON CO COM 202795100 202 8907 SH DEFINED 02 6900 457 1550
COMPUTER DATA SYS COM 205017106 275 20000 SH DEFINED 02 0 20000 0
CONCORD EFS INC COM 206189102 282 12000 SH DEFINED 02 0 11500 500
CONNER PERIPHERALS INC SUB 208108AB6 12 15000 PRN DEFINED 02 0 0 15000
CONRAIL INC COM 208368100 1661 30350 SH DEFINED 02 2000 26700 1650
CONSECO INC COM 208464107 635 13628 SH DEFINED 02 10200 0 3428
CONSOLIDATED EDISON CO N Y INC COM 209111103 230 8701 SH DEFINED 02 4276 1485 2940
CONSOLIDATED NAT GAS CO SUB 209615BL6 40 40000 PRN DEFINED 02 0 40000 0
CONSOLIDATED NAT GAS CO COM 209615103 2681 71041 SH DEFINED 02 27870 24146 19025
COOPER INDS INC COM 216669101 11881 330053 SH DEFINED 02 214113 57438 58502
COOPER INDS INC CPF 216669507 12678 557292 PRN DEFINED 02 357775 115375 84142
COOPER TIRE & RUBR CO COM 216831107 538 23300 SH DEFINED 02 1000 0 22300
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
COORS ADOLPH CO COM 217016104 1060 60600 SH DEFINED 02 21650 19900 19050
CORESTATES FINL CORP COM 218695104 46175 1793216 SH DEFINED 02 1026134 390517 376565
CORNING INC COM 219350105 785 24084 SH DEFINED 02 8908 8000 7176
COSTCO WHSL CORP SUB 221607AB0 444 525000 PRN DEFINED 02 300000 0 225000
COUNTRYWIDE CR INDS INC COM 222372104 304 21200 SH DEFINED 02 17700 3500 0
CRESTAR FINL CORP COM 226091106 308 6784 SH DEFINED 02 4200 2584 0
CUSTER CHANNEL WING CORP COM 231705203 0 16000 SH DEFINED 02 16000 0 0
DPL INC COM 233293109 7177 361155 SH DEFINED 02 291000 21155 49000
DSC COMMUNICATIONS COM 233311109 209 10730 SH DEFINED 02 0 10330 400
DANA CORP COM 235811106 7438 261002 SH DEFINED 02 100624 22460 137918
DANKA BUSINESS SYS PLC COM 236277109 630 15800 SH DEFINED 02 0 0 15800
DART & KRAFT FIN N V SUB 237990AB2 82 40000 PRN DEFINED 02 40000 0 0
DAYTON HUDSON CORP COM 239753106 279 3450 SH DEFINED 02 2400 750 300
DEAN WITTER SELECT CORPORATE COM 2424J4218 2 14000 SH DEFINED 02 0 0 14000
DEAN WITTER DISCOVER & CO COM 24240V101 399 10662 SH DEFINED 02 5116 1441 4105
DEERE & CO COM 244199105 17166 253847 SH DEFINED 02 154025 30474 69348
DELMARVA PWR & LT CO COM 247109101 646 35671 SH DEFINED 02 3689 22242 9740
DELTA AIR LINES INC DEL COM 247361108 6304 139325 SH DEFINED 02 116650 5575 17100
DELTA AIR LINES INC DEL CPF 247361306 8771 193855 PRN DEFINED 02 131328 24865 37662
DELTA WOODSIDE INDS INC NEW COM 247909104 441 37600 SH DEFINED 02 35800 1500 300
DEXTER CORP COM 252165105 8179 337283 SH DEFINED 02 193325 29883 114075
DIGI INTL INC COM 253798102 218 14550 SH DEFINED 02 0 11800 2750
DIGITAL EQUIP CORP COM 253849103 8270 424146 SH DEFINED 02 324050 51027 49069
DILLARD DEPT STORES INC COM 254063100 494 16000 SH DEFINED 02 900 0 15100
DISNEY WALT CO COM 254687106 1629 39157 SH DEFINED 02 1668 23321 14168
DR PEPPER / SEVEN-UP COS INC COM 256131301 386 16800 SH DEFINED 02 0 0 16800
DOMINION RES INC VA COM 257470104 750 20624 SH DEFINED 02 6395 9097 5132
DONALDSON INC COM 257651109 638 28542 SH DEFINED 02 1124 10600 16818
DONNELLEY R R & SONS CO COM 257867101 2922 105326 SH DEFINED 02 39850 50776 14700
DOVER CORP COM 260003108 9749 165600 SH DEFINED 02 72017 38117 55466
DOW CHEM CO SUB 260543BB8 142 145000 PRN DEFINED 02 20000 25000 100000
DOW CHEM CO COM 260543103 34379 525875 SH DEFINED 02 288418 164837 72620
DRESSER INDS INC COM 261597108 19626 957370 SH DEFINED 02 535213 252420 169737
DU PONT E I DE NEMOURS & CO COM 263534109 56003 961441 SH DEFINED 02 450261 301290 209890
DUKE PWR CO COM 264399106 5959 166700 SH DEFINED 02 83467 34267 48966
DUN & BRADSTREET CORP COM 264830100 62204 1120796 SH DEFINED 02 895610 126491 98695
DUNDEE MLS INC COM 265219105 646 680 SH DEFINED 02 680 0 0
E M C CORP MASS COM 268648102 232 17200 SH DEFINED 02 0 0 17200
EASTMAN CHEM CO COM 277432100 753 15772 SH DEFINED 02 5800 7319 2653
EASTMAN KODAK CO COM 277461109 3365 69938 SH DEFINED 02 28507 30796 10635
ECCLESTON LAND COMPANY COMMON COM 277994109 219 2972 SH DEFINED 02 2162 0 810
EATON CORP COM 278058102 3333 64108 SH DEFINED 02 34828 11882 17398
ECHLIN INC COM 278749106 250 8300 SH DEFINED 02 1700 200 6400
ECOLAB INC COM 278865100 226 10300 SH DEFINED 02 100 300 9900
ELF AQUITAINE COM 286269105 236 7100 SH DEFINED 02 7100 0 0
EMERSON ELEC CO COM 291011104 24111 423934 SH DEFINED 02 241730 74913 107291
ENRON CORP COM 293561106 7747 236574 SH DEFINED 02 79835 40284 116455
EQUITABLE GAS CO SUB 294497AJ1 268 120000 PRN DEFINED 02 0 110000 10000
EQUITABLE RES INC COM 294549100 21944 638397 SH DEFINED 02 397758 120483 120156
EQUITEC FINL GROUP INC SUB 294588AC2 1 50000 PRN DEFINED 02 0 0 50000
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
ERICSSON L M TEL CO COM 294821400 3570 72050 SH DEFINED 02 11650 42600 17800
ESTERLINE INTL FIN N V SUB 297430AA8 447 450000 PRN DEFINED 02 415000 0 35000
EURO PAC GROWTH FD COM 298706102 1196 56925 SH DEFINED 02 56925 0 0
EXXON CORP COM 302290101 112012 1973783 SH DEFINED 02 916780 666562 390441
F&M BANCORP COM 302367107 1615 64618 SH DEFINED 02 2173 42963 19480
FPA PARAMOUNT FD INC COM 302546106 252 18723 SH DEFINED 02 18723 0 0
FPL GROUP INC COM 302571104 250 8417 SH DEFINED 02 5030 937 2450
FCNB CORP COM 302920103 433 17359 SH DEFINED 02 7858 240 9261
FARMERS NATL BANCORP MD COM 309630101 225 6168 SH DEFINED 02 0 6168 0
FASTENAL CO COM 311900104 651 19290 SH DEFINED 02 0 16925 2365
FEDERAL HOME LN MTG CORP COM 313400301 1331 22006 SH DEFINED 02 5500 4206 12300
FEDERAL NATL MTG ASSN COM 313586109 308 3700 SH DEFINED 02 1900 100 1700
FIDELITY ADVISOR SER I COM 315805101 538 19527 SH DEFINED 02 0 19527 0
FIDELITY PURITAN FD INC COM 316345107 409 26327 SH DEFINED 02 26327 0 0
FINANCIAL INDL INCOME FD COM 317567105 400 35410 SH DEFINED 02 35410 0 0
FIRST BK SYS INC COM 319279105 485 13400 SH DEFINED 02 0 13400 0
FIRST CHICAGO CORP COM 319455101 255 5306 SH DEFINED 02 0 4406 900
FIRST COLONY CORP COM 319741104 3690 171650 SH DEFINED 02 164500 1367 5783
FIRST FID BANCORPORATION NEW COM 320195100 309 6676 SH DEFINED 02 3956 400 2320
FIRST FINL MGMT CORP COM 320245103 432 7800 SH DEFINED 02 0 0 7800
FIRST TR GNMA FD COM 337335160 1 20000 SH DEFINED 02 0 0 20000
FIRSTAR CORP NEW COM 33761C103 381 10796 SH DEFINED 02 0 0 10796
FISERV INC COM 337738108 755 36850 SH DEFINED 02 0 8000 28850
FISHER SCIENTIFIC INTL INC SUB 338032AA3 159 150000 PRN DEFINED 02 0 0 150000
FISHER SCIENTIFIC INTL INC COM 338032105 370 11482 SH DEFINED 02 0 1100 10382
FLAG INVS VALUE BLDR FD INC COM 33832R105 163 14710 SH DEFINED 02 0 0 14710
FLAG INVS TEL INCOME FD INC COM 338331101 582 46089 SH DEFINED 02 7246 38843 0
FLEETWOOD ENTERPRISES INC COM 339099103 2620 137000 SH DEFINED 02 15800 87700 33500
FLEMING COS INC COM 339130106 3345 120575 SH DEFINED 02 98895 1660 20020
FLIGHTSAFETY INTL INC COM 339423105 374 9950 SH DEFINED 02 0 900 9050
FLORIDA EAST COAST INDS INC COM 340632108 3406 52000 SH DEFINED 02 0 0 52000
FLUOR CORP COM 343861100 251 4952 SH DEFINED 02 200 2533 2219
FORD MTR CO DEL COM 345370100 599 10160 SH DEFINED 02 4800 760 4600
FRANKLIN CUSTODIAN FDS INC COM 353496607 112 17035 SH DEFINED 02 9868 7167 0
FREDERICK TRADING CO CAP COM 355990102 239 7983 SH DEFINED 02 0 7983 0
FREEPORT MCMORAN INC COM 356714105 199 12296 SH DEFINED 02 1452 2600 8244
FRITZ COS INC COM 358846103 218 7175 SH DEFINED 02 0 6875 300
GTE CORP COM 362320103 12172 392651 SH DEFINED 02 179555 134578 78518
GANNETT INC COM 364730101 10878 219759 SH DEFINED 02 113636 76428 29695
GARDNER DENVER MACHY INC COM 365558105 421 48185 SH DEFINED 02 8577 37181 2427
GENERAL DYNAMICS CORP COM 369550108 204 5000 SH DEFINED 02 0 5000 0
GENERAL ELEC CO COM 369604103 127526 2735154 SH DEFINED 02 1244986 1003828 486340
GENERAL MILLS INC COM 370334104 1435 26276 SH DEFINED 02 21160 4350 766
GENERAL MOTORS CORP COM 370442105 12085 240512 SH DEFINED 02 108139 49033 83340
GENERAL MTRS CORP COM 370442402 761 21827 SH DEFINED 02 8730 10727 2370
GENERAL RE CORP COM 370563108 34700 318718 SH DEFINED 02 198841 63136 56741
GENETICS INST INC COM 371855305 415 10000 SH DEFINED 02 0 10000 0
GENUINE PARTS CO COM 372460105 12570 347971 SH DEFINED 02 215366 85416 47189
GENZYME CORP COM 372917104 215 8260 SH DEFINED 02 6400 1500 360
GEORGIA PAC CORP COM 373298108 412 6883 SH DEFINED 02 1596 3280 2007
<PAGE> PAGE 7
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
GIANT FOOD INC COM 374478105 13552 690590 SH DEFINED 02 426025 171665 92900
GIDDINGS & LEWIS INC WIS COM 375048105 1333 86000 SH DEFINED 02 86000 0 0
GILLETTE CO COM 375766102 3757 57690 SH DEFINED 02 2566 14736 40388
GLATFELTER P H CO COM 377316104 26080 1630021 SH DEFINED 02 1087404 184842 357775
GOVERNMENT SECS INCOME FD COM 383743580 1 13935 SH DEFINED 02 13935 0 0
GOVERNMENT SECS INCOME FD COM 383744646 32 37932 SH DEFINED 02 0 37932 0
GRACE W R & CO COM 383883105 556 13946 SH DEFINED 02 0 3714 10232
GRAINGER W W INC COM 384802104 4476 70077 SH DEFINED 02 16420 14030 39627
GREAT LAKES CHEM CORP COM 390568103 518 9584 SH DEFINED 02 6400 1800 1384
GREENERY REHABILITATION GROUP SUB 394797AB0 264 300000 PRN DEFINED 02 150000 0 150000
HALLIBURTON CO COM 406216101 9286 274139 SH DEFINED 02 149073 22800 102266
HANSON PLC COM 411352305 2734 149844 SH DEFINED 02 123429 8615 17800
HARCOURT GEN INC COM 41163G101 354 10100 SH DEFINED 02 900 0 9200
HARSCO CORP COM 415864107 4409 107550 SH DEFINED 02 72800 19460 15290
HAUSER CHEM RESH INC NEW COM 419141304 97 14475 SH DEFINED 02 0 13675 800
HEALTH CARE PPTY INVS INC COM 421915109 356 11600 SH DEFINED 02 0 5600 6000
HEINZ H J CO COM 423074103 1146 35961 SH DEFINED 02 9933 14748 11280
HERCULES INC SUB 427056AK2 662 275000 PRN DEFINED 02 200000 10000 65000
HERCULES INC COM 427056106 2836 26507 SH DEFINED 02 9600 5600 11307
HERITAGE MEDIA CORP NEW COM 427241203 340 19200 SH DEFINED 02 0 0 19200
HERSHEY FOODS CORP COM 427866108 7106 163829 SH DEFINED 02 91633 31903 40293
HEWLETT PACKARD CO COM 428236103 38886 516762 SH DEFINED 02 330596 80125 106041
HILTON HOTELS CORP COM 432848109 307 5807 SH DEFINED 02 0 940 4867
HOME DEPOT INC COM 437076102 1641 38961 SH DEFINED 02 2249 22466 14246
HOMESTAKE MNG CO COM 437614100 2943 157012 SH DEFINED 02 38600 12362 106050
HONEYWELL INC COM 438506107 2352 75889 SH DEFINED 02 32683 36902 6304
HORNBACH HLDGS AG PFD 440600997 228 220 SH DEFINED 02 0 210 10
HOSPITALITYFRAN COM 440912103 553 22600 SH DEFINED 02 0 0 22600
HOUGHTON MIFFLIN CO COM 441560109 414 9370 SH DEFINED 02 0 0 9370
HOUSEHOLD INTL CORP COM 441815107 307 9039 SH DEFINED 02 0 6039 3000
HOUSTON INDS INC COM 442161105 268 8236 SH DEFINED 02 600 5886 1750
HUBBELL INC COM 443510201 4929 88812 SH DEFINED 02 32964 17374 38474
HUMANA INC COM 444859102 342 21210 SH DEFINED 02 2910 18300 0
ITT CORP COM 450679105 3742 45852 SH DEFINED 02 12331 17890 15631
ILLINOIS TOOL WORKS INC COM 452308109 3086 79150 SH DEFINED 02 65200 6400 7550
IMPERIAL CHEM INDS PLC COM 452704505 19704 413746 SH DEFINED 02 277287 41134 95325
INDRESCO INC COM 455905109 218 18387 SH DEFINED 02 3560 8650 6177
INGERSOLL RAND CO COM 456866102 9698 276100 SH DEFINED 02 89451 83224 103425
INFORMATION MGMT TECHNS CORP SUB 456990AA8 100 100000 PRN DEFINED 02 0 100000 0
INSURANCE AUTO AUCTIONS INC COM 457875102 250 7700 SH DEFINED 02 0 7300 400
INTEL CORP COM 458140100 23223 396980 SH DEFINED 02 264645 53060 79275
INTERNATIONAL BUSINESS MACHS COM 459200101 37015 630058 SH DEFINED 02 262687 213177 154194
INTERNATIONAL FLAVORS & COM 459506101 282 7218 SH DEFINED 02 4668 750 1800
INTERNATIONAL GAME TECHNOLOGY COM 459902102 198 10500 SH DEFINED 02 10500 0 0
INTERNATIONAL PAPER CO COM 460146103 788 11909 SH DEFINED 02 4714 4885 2310
INVESCO GROWTH FD INC COM 46127N100 706 137269 SH DEFINED 02 137269 0 0
INVESTMENT CO AMER COM 461308108 221 12302 SH DEFINED 02 10545 1757 0
IOWA NATL BANKSHARES CORP COM 462483108 378 15144 SH DEFINED 02 15144 0 0
JACOBSON STORES INC SUB 469834AC9 32 40000 PRN DEFINED 02 0 0 40000
JAMES RIV CORP VA COM 470349101 225 13268 SH DEFINED 02 3500 5718 4050
<PAGE> PAGE 8
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
JAMESWAY CORP SUB 470736AB5 3 15000 PRN DEFINED 02 0 15000 0
JANUS FD INC COM 471023101 509 27318 SH DEFINED 02 21512 5806 0
JEFFERSON PILOT CORP COM 475070108 4110 84311 SH DEFINED 02 39475 26136 18700
JOHNSON & JOHNSON COM 478160104 48773 1137573 SH DEFINED 02 576073 376709 184791
JOHNSON CTLS INC COM 478366107 2227 46044 SH DEFINED 02 15608 16420 14016
JONES APPAREL GROUP COM 480074103 666 23600 SH DEFINED 02 0 0 23600
K MART CORP COM 482584109 9406 606891 SH DEFINED 02 378332 96637 131922
K MART CORP PFD 482584208 4733 150875 SH DEFINED 02 143700 0 7175
K N ENERGY INC COM 482620101 5014 225363 SH DEFINED 02 137502 37004 50857
KAMAN CORP SUB 483548AC7 905 1192000 PRN DEFINED 02 852000 129000 211000
KAMAN CORP COM 483548103 2640 289325 SH DEFINED 02 164675 73200 51450
KAMAN CORP CPF 483548509 2522 56680 PRN DEFINED 02 41865 4798 10017
S KANN SONS CO COM STPD COM 483996104 4835 94823 SH DEFINED 02 5280 89423 120
KELLOGG CO COM 487836108 2267 41700 SH DEFINED 02 20300 18000 3400
KEMPER GOVT SECS TR COM 488903394 95 94339 SH DEFINED 02 94339 0 0
KERR MCGEE CORP COM 492386107 289 6146 SH DEFINED 02 800 4646 700
KEYCORP NEW COM 493267108 628 19725 SH DEFINED 02 6700 8283 4742
KEYSTONE INTL INC COM 493503106 5793 297099 SH DEFINED 02 216500 40599 40000
KIMBERLY CLARK CORP COM 494368103 1222 23128 SH DEFINED 02 9900 6232 6996
KOLLMORGEN CORP SUB 500440AA0 73 77000 PRN DEFINED 02 19000 48000 10000
KOPP GLASS INC COM 500990106 254 33950 SH DEFINED 02 33950 0 0
KULICKE & SOFFA INDS INC SUB 501242AA9 106 110000 PRN DEFINED 02 100000 0 10000
LCI INTL INC COM 501813109 300 9400 SH DEFINED 02 0 0 9400
KRUGERRAND WHOLE SUB 501990501 5 1421 PRN DEFINED 02 0 1419 2
LANDMARK GRAPHICS CORP COM 514913102 430 14000 SH DEFINED 02 14000 0 0
LAWTER INTL INC COM 520786104 127 10883 SH DEFINED 02 0 0 10883
LEGGETT & PLATT INC COM 524660107 450 12000 SH DEFINED 02 0 12000 0
LEGG MASON INC SUB 524901AA3 20 20000 PRN DEFINED 02 0 20000 0
LENNAR CORP COM 526057104 436 23100 SH DEFINED 02 0 0 23100
LEUCADIA NATL CORP COM 527288104 1144 31800 SH DEFINED 02 0 15000 16800
LILLY ELI & CO COM 532457108 5516 96988 SH DEFINED 02 61576 21637 13775
LINCOLN NATL CORP IND COM 534187109 10346 244169 SH DEFINED 02 130544 28350 85275
LECHTERS INC SUB 5359919E5 31 45000 PRN DEFINED 02 45000 0 0
LOEWS CORP COM 540424108 255 2975 SH DEFINED 02 100 800 2075
LOTUS DEV CORP COM 545700106 1159 31550 SH DEFINED 02 18750 2000 10800
LOYOLA CAP CORP COM 549089100 1018 45532 SH DEFINED 02 20000 8300 17232
LUBRIZOL CORP COM 549271104 12999 379547 SH DEFINED 02 182186 121213 76148
M A COM SUB 552618AA8 161 175000 PRN DEFINED 02 0 70000 105000
MBIA INC COM 55262C100 321 5600 SH DEFINED 02 0 0 5600
MCI COMMUNICATIONS CORP COM 552673105 2395 108252 SH DEFINED 02 31550 31650 45052
MGIC INVT CORP WISC COM 552848103 477 18100 SH DEFINED 02 0 0 18100
MSD&T FNDS INC VALUE EQUITY COM 553537507 14306 1209368 SH DEFINED 02 129478 11237 1068653
MSD&T FNDS INC INTL EQUITY COM 553537804 44701 3756427 SH DEFINED 02 1951556 877751 927120
MANOR CARE INC COM 564054104 260 10371 SH DEFINED 02 200 2400 7771
MAPCO INC COM 565097102 218 3700 SH DEFINED 02 3400 0 300
MARK IV INDS INC COM 570387100 586 29518 SH DEFINED 02 0 29518 0
MARSH & MCLENNAN COS INC COM 571748102 24547 294428 SH DEFINED 02 185831 68928 39669
MARRIOTT INTL INC COM 571900109 661 24850 SH DEFINED 02 0 6950 17900
MARTIN MARIETTA CORP NEW COM 572900108 7239 164069 SH DEFINED 02 56727 32392 74950
MARTIN MARIETTA MATLS INC COM 573284106 547 24900 SH DEFINED 02 0 0 24900
<PAGE> PAGE 9
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
MASCO CORP SUB 574599AG1 3207 3564000 PRN DEFINED 02 1597000 545000 1422000
MASCO CORP COM 574599106 572 20800 SH DEFINED 02 11800 7600 1400
MASKWA NICKEL CHROME MINES LTD COM 574990214 1 12000 SH DEFINED 02 0 0 12000
MASON-DIXON BANCSHARES INC COM 575207105 362 7554 SH DEFINED 02 3779 2109 1666
MATTEL INC COM 577081102 660 26029 SH DEFINED 02 573 7663 17793
MAY DEPT STORES CO COM 577778103 54963 1400337 SH DEFINED 02 574779 556698 268860
MCCORMICK & CO INC COM 579780107 0 13492 SH DEFINED 02 12500 512 480
MCCORMICK & CO INC COM 579780206 9307 459642 SH DEFINED 02 163996 200884 94762
MCDONALDS CORP COM 580135101 2002 69360 SH DEFINED 02 15600 22200 31560
MCGRAW HILL INC COM 580645109 300 4520 SH DEFINED 02 600 3820 100
MEAD CORP SUB 582834AJ6 375 372000 PRN DEFINED 02 0 60000 312000
MEAD CORP COM 582834107 234 5320 SH DEFINED 02 362 2358 2600
MEDICAL CARE INTL INC SUB 584505AB7 29 30000 PRN DEFINED 02 0 0 30000
MEDICAL CTR INS CO LTD COM 584990105 0 125000 SH DEFINED 02 125000 0 0
MEDTRONIC INC COM 585055106 534 6670 SH DEFINED 02 300 400 5970
MEDUSA CORP SUB 585072AB7 33 35000 PRN DEFINED 02 0 0 35000
MERCANTILE BANCORPORATION INC COM 587342106 469 13368 SH DEFINED 02 13144 224 0
MERCANTILE BANKSHARES CORP COM 587405101 40744 2076133 SH DEFINED 02 714228 900798 461107
MERCANTILE BANKSHARES CORP COM 587405101 44 2256 SH DEFINED 01 2256 0 0
MERCK & CO INC COM 589331107 78673 2644480 SH DEFINED 02 1182629 893632 568219
MICHAELS STORES INC COM 594087108 480 14300 SH DEFINED 02 0 0 14300
MICROSOFT CORP COM 594918104 2410 46700 SH DEFINED 02 27350 9600 9750
MID-ATLANTIC RLTY TR COM 595232109 123 13589 SH DEFINED 02 6332 6335 922
MILLIPORE CORP COM 601073109 662 12556 SH DEFINED 02 0 5150 7406
MINERALS TECHNOLOGIES INC COM 603158106 800 27600 SH DEFINED 02 0 0 27600
MINNESOTA MNG & MFG CO COM 604059105 51874 1045327 SH DEFINED 02 549486 282581 213260
LLOYD E MITCHELL INC. COM 605996107 221 2214 SH DEFINED 02 0 0 2214
MOBIL CORP COM 607059102 41421 508236 SH DEFINED 02 279064 142875 86297
MOLEX INC COM 608554200 245 6687 SH DEFINED 02 312 0 6375
MONSANTO CO COM 611662107 557 7374 SH DEFINED 02 408 5328 1638
MOOG INC SUB 615394AA1 227 226000 PRN DEFINED 02 202000 0 24000
MORGAN J P & CO INC COM 616880100 18807 303347 SH DEFINED 02 190630 45167 67550
MORTON INTL INC IND COM 619331101 1695 21738 SH DEFINED 02 12500 7163 2075
MOTOROLA INC SUB 620076AJ8 63 100000 PRN DEFINED 02 100000 0 0
MOTOROLA INC COM 620076109 38412 860782 SH DEFINED 02 412224 267618 180940
MURPHY OIL CORP COM 626717102 23358 546408 SH DEFINED 02 316772 80241 149395
MUSICLAND STORES CORP COM 62758B109 201 12600 SH DEFINED 02 0 500 12100
MUTUAL SER FD INC COM 628380107 669 8328 SH DEFINED 02 0 8328 0
MYLAN LABS INC COM 628530107 255 12000 SH DEFINED 02 0 6200 5800
NATIONAL CITY CORP COM 635405103 904 33036 SH DEFINED 02 14402 12334 6300
NATIONAL CITY CORP CPF 635405509 241 3667 PRN DEFINED 02 350 100 3217
NATIONAL MED ENTERPRISES INC COM 636886103 437 28000 SH DEFINED 02 0 28000 0
NATIONSBANK CORP COM 638585109 3037 59132 SH DEFINED 02 5937 44738 8457
NATIONWIDE HEALTH PPTYS INC COM 638620104 312 8000 SH DEFINED 02 1200 6300 500
NESTLE S A COM 641069406 12064 287467 SH DEFINED 02 125317 104225 57925
NEW ENGLAND ELEC SYS COM 644001109 4340 133056 SH DEFINED 02 98458 11275 23323
NEW YORK VENTURE FD INC COM 650121106 5948 507964 SH DEFINED 02 0 172985 334979
NEWELL CO COM 651192106 12558 271533 SH DEFINED 02 157000 30554 83979
NORAM ENERGY CORP COM 655419109 107 18300 SH DEFINED 02 11000 3400 3900
NORFOLK SOUTHERN CORP COM 655844108 27649 438874 SH DEFINED 02 223807 108811 106256
<PAGE> PAGE 10
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
NORTHEAST UTILS COM 664397106 8481 389974 SH DEFINED 02 286429 88970 14575
NORTHEAST UTILS COM 664397106 2333 107271 SH DEFINED 02 37991 39030 30250
NORTHERN STS PWR CO MINN COM 665772109 1547 37755 SH DEFINED 02 13808 21347 2600
NORTHERN TR CORP COM 665859104 267 6475 SH DEFINED 02 0 0 6475
NOVACARE INC SUB 669930AA7 1752 1915000 PRN DEFINED 02 1690000 20000 205000
NOVELL INC COM 670006105 14592 871195 SH DEFINED 02 686200 50850 134145
NYNEX CORP COM 670768100 640 16913 SH DEFINED 02 4710 8227 3976
OFFICE DEPOT INC COM 676220106 226 11254 SH DEFINED 02 0 1804 9450
OLIN CORP COM 680665205 4949 91864 SH DEFINED 02 9489 3372 79003
OMNICARE INC SUB 681904AA6 36 30000 PRN DEFINED 02 0 20000 10000
OMNICARE INC COM 681904108 260 7900 SH DEFINED 02 0 7600 300
ORION CAP CORP COM 686268103 210 6168 SH DEFINED 02 6168 0 0
ORYX ENERGY CO SUB 68763FAD2 29 35000 PRN DEFINED 02 0 0 35000
PHH CORP COM 693320103 1382 38821 SH DEFINED 02 18500 13650 6671
PNC BK CORP SUB 693475AA3 12 5000 PRN DEFINED 02 0 0 5000
PNC BK CORP COM 693475105 543 18834 SH DEFINED 02 10100 3934 4800
PPG INDS INC COM 693506107 3174 84660 SH DEFINED 02 28204 47736 8720
PACIFIC GAS & ELEC CO COM 694308107 276 11633 SH DEFINED 02 3508 5587 2538
PACIFIC GULF PPTYS INC SUB 694396AA0 150 155000 PRN DEFINED 02 0 140000 15000
PACIFIC TELESIS GROUP COM 694890104 13259 431213 SH DEFINED 02 219797 117729 93687
PACIFICORP COM 695114108 1483 87882 SH DEFINED 02 59346 21530 7006
PENNEY J C INC COM 708160106 8237 151850 SH DEFINED 02 90480 37030 24340
PENNSYLVANIA MUT FD INC COM 709000103 532 66206 SH DEFINED 02 0 66206 0
PENNSYLVANIA PWR & LT CO COM 709051106 229 11692 SH DEFINED 02 3442 8150 100
PENNZOIL CO SUB 709903BE7 22 25000 PRN DEFINED 02 25000 0 0
PENNZOIL CO COM 709903108 292 5700 SH DEFINED 02 0 2344 3356
PEPSICO INC COM 713448108 17106 558586 SH DEFINED 02 319345 147400 91841
PERKIN ELMER CORP COM 714041100 333 11291 SH DEFINED 02 6525 4000 766
PERPETUAL SVGS BK F S B SUB 714275AA2 0 10000 PRN DEFINED 02 10000 0 0
PETRIE STORES CORP SUB 716434AC9 520 471000 PRN DEFINED 02 10000 35000 426000
PETROLEUM GEO-SVCS A/S COM 716597109 529 35900 SH DEFINED 02 0 0 35900
PFIZER INC COM 717081103 39836 631078 SH DEFINED 02 316780 213448 100850
PHELPS DODGE CORP COM 717265102 11052 193908 SH DEFINED 02 151075 19703 23130
PHILIP MORRIS COS INC COM 718154107 60381 1172456 SH DEFINED 02 655567 322230 194659
PHILLIPS PETE CO COM 718507106 268 8600 SH DEFINED 02 300 8000 300
PIER 1 IMPORTS INC COM 720279108 1494 196000 SH DEFINED 02 196000 0 0
PITNEY BOWES INC COM 724479100 2093 54902 SH DEFINED 02 0 8536 46366
PITTWAY CORP DEL COM 725790208 510 14681 SH DEFINED 02 100 181 14400
POTLATCH CORP COM 737628107 7948 206451 SH DEFINED 02 111102 50276 45073
POTOMAC ELEC PWR CO COM 737679100 981 51682 SH DEFINED 02 15856 23932 11894
PREMARK INTL INC COM 740459102 917 12197 SH DEFINED 02 7723 1852 2622
PRICE CO SUB 741440AC5 19 20000 PRN DEFINED 02 0 20000 0
T ROWE PRICE ASSOC INC COM 741477103 3350 126434 SH DEFINED 02 0 123134 3300
T ROWE PRICE GROWTH STK FD COM 741479109 525 26715 SH DEFINED 02 3277 16695 6742
PROCTER & GAMBLE CO COM 742718109 115890 2171251 SH DEFINED 02 1116717 760496 294038
PROFFITTS INC SUB 742925AA8 92 130000 PRN DEFINED 02 50000 0 80000
PROGRESSIVE CORP OHIO COM 743315103 395 11900 SH DEFINED 02 0 0 11900
PROTECTIVE LIFE CORP COM 743674103 1063 26428 SH DEFINED 02 0 4228 22200
PROVIDENT BANKSHARES CORP COM 743859100 397 17300 SH DEFINED 02 300 11000 6000
PROVIDIAN CORP COM 744061102 278 9210 SH DEFINED 02 0 5610 3600
<PAGE> PAGE 11
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
PRUDENTIAL MUN SER FD COM 74435M200 0 21558 SH DEFINED 02 0 21558 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 263 10127 SH DEFINED 02 4007 4470 1650
QUAKER OATS CO COM 747402105 1193 17108 SH DEFINED 02 1080 12828 3200
QUAKER ST CORP COM 747410108 3482 248756 SH DEFINED 02 94734 12600 141422
QUESTAR CORP COM 748356102 12064 372640 SH DEFINED 02 225150 84240 63250
RJR NABISCO HLDGS CORP COM 74960K108 619 102250 SH DEFINED 02 101750 0 500
RJR NABISCO HLDGS CORP CPF 74960K405 1665 266450 PRN DEFINED 02 235000 8000 23450
RALSTON PURINA CO COM 751277302 457 13110 SH DEFINED 02 1904 2900 8306
RAYONIER INC COM 754907103 263 9121 SH DEFINED 02 2617 3495 3009
RAYTHEON CO COM 755111101 5657 87380 SH DEFINED 02 56009 17497 13874
READERS DIGEST ASSN INC COM 755267101 14509 349635 SH DEFINED 02 244500 46500 58635
READERS DIGEST ASSN INC COM 755267200 875 22450 SH DEFINED 02 12450 8100 1900
REEBOK INTL LTD COM 758110100 597 20000 SH DEFINED 02 0 0 20000
REGIONS FINL CORP COM 758940100 12844 368289 SH DEFINED 02 174935 104839 88515
RESEARCH INDS CORP COM 761004100 86 10750 SH DEFINED 02 0 10300 450
RETIREMENT PLANNING FDS AMER COM 761293604 242 21805 SH DEFINED 02 0 0 21805
REYNOLDS METALS CO COM 761763101 8986 187224 SH DEFINED 02 143723 15786 27715
RESERVOIR CAP CORP SUB 761990407 1 25500 PRN DEFINED 02 0 13500 12000
ROCKWELL INTL CORP COM 774347108 241 6466 SH DEFINED 02 3996 1800 670
ROHM & HAAS CO COM 775371107 760 12224 SH DEFINED 02 6488 5536 200
ROUSE CO COM 779273101 2517 134259 SH DEFINED 02 1050 77500 55709
T ROWE PRICE INTL FD INC COM 77956H203 495 41380 SH DEFINED 02 41380 0 0
T ROWE PRICE NEW HORIZONS FD COM 779562107 827 56774 SH DEFINED 02 0 18563 38210
ROYAL DUTCH PETE CO COM 780257705 1895 18138 SH DEFINED 02 5371 8628 4139
ROYCE FD COM 780905105 728 77703 SH DEFINED 02 0 77703 0
SCECORP COM 783882103 198 15434 SH DEFINED 02 7589 4266 3579
ST JUDE MED INC COM 790849103 2444 75200 SH DEFINED 02 75200 0 0
ST PAUL COS INC COM 792860108 272 6784 SH DEFINED 02 1000 2000 3784
SALOMON BROS INVS FD INC COM 795478106 171 11855 SH DEFINED 02 0 0 11855
SALOMON INC COM 79549B107 628 13160 SH DEFINED 02 0 13060 100
DIGITAL EQUIPMENT'S CONV PREF CPF 79549B511 202 8250 PRN DEFINED 02 8250 0 0
SAN JUAN RACING ASSN INC COM 798407102 0 34385 SH DEFINED 02 0 29061 5324
SANTA FE PAC CORP COM 802183103 521 25292 SH DEFINED 02 3725 19120 2447
SARA LEE CORP COM 803111103 1292 60823 SH DEFINED 02 5000 36160 19663
SCANA CORP COM 805898103 417 9732 SH DEFINED 02 5082 3386 1264
SCHERER R P CORP DEL COM 806528105 425 12900 SH DEFINED 02 0 0 12900
SCHERING PLOUGH CORP COM 806605101 17508 285847 SH DEFINED 02 75785 196180 13882
SCHLUMBERGER LTD COM 806857108 36968 625256 SH DEFINED 02 395032 124901 105323
SCHOLASTIC CORP COM 807066105 494 13100 SH DEFINED 02 0 0 13100
SCHULMAN A INC COM 808194104 1168 45154 SH DEFINED 02 0 1000 44154
SCOTT PAPER CO COM 809877103 584 11192 SH DEFINED 02 200 5892 5100
SCUDDER INTL FD INC COM 811165109 791 18568 SH DEFINED 02 18268 299 0
SCUDDER PORTFOLIO TR COM 811192103 3082 242172 SH DEFINED 02 242172 0 0
SEAGRAM LTD COM 811850106 313 10356 SH DEFINED 02 0 9100 1256
SEARS ROEBUCK & CO COM 812387108 1403 29245 SH DEFINED 02 15222 3900 10123
SENSORMATIC ELECTRS CORP COM 817265101 567 19750 SH DEFINED 02 0 1500 18250
SEQUOIA FD INC COM 817418106 657 11973 SH DEFINED 02 0 3136 8837
SERVICEMASTER LTD PARTNERSHIP COM 817615107 2194 88681 SH DEFINED 02 1350 13150 74181
SHAW INDS INC COM 820286102 222 13500 SH DEFINED 02 0 13000 500
SHERWIN WILLIAMS CO COM 824348106 749 23792 SH DEFINED 02 7192 8600 8000
<PAGE> PAGE 12
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
SIGMA ALDRICH CORP COM 826552101 260 6500 SH DEFINED 02 900 4800 800
SIGNET BKG CORP COM 826681108 3528 87404 SH DEFINED 02 36232 35764 15408
SLADE INCORPORATED CUM PFD PFD 830990206 448 4485 SH DEFINED 02 0 0 4485
SLADE INCORPORATED COMMON COM 830990404 33855 44664 SH DEFINED 02 0 17000 27664
SMITHKLINE BEECHAM PLC COM 832378400 4102 145874 SH DEFINED 02 50800 48290 46784
SONAT INC COM 835415100 1773 57688 SH DEFINED 02 31360 24368 1960
SOUTHERN CO COM 842587107 497 26522 SH DEFINED 02 9036 10408 7078
SOUTHERN UN CO NEW COM 844030106 237 13475 SH DEFINED 02 0 0 13475
MCNEIL REAL ESTATE FD XXV COM 844990101 14 80000 SH DEFINED 02 0 0 80000
SOUTHWESTERN BELL CORP COM 845333103 1688 38824 SH DEFINED 02 10308 18404 10112
SOUTHWESTERN PUB SVC CO COM 845743103 378 15216 SH DEFINED 02 3320 11596 300
SPACELABS MED INC COM 846247104 308 14525 SH DEFINED 02 975 280 13270
SPARKS ST BK MD COM 84699A107 208 5628 SH DEFINED 02 0 5628 0
SPRINT CORP COM 852061100 1049 30082 SH DEFINED 02 11989 14149 3944
STANDARD COML CORP SUB 853258AA9 2978 3770000 PRN DEFINED 02 2740000 35000 995000
STANLEY WKS COM 854616109 491 12200 SH DEFINED 02 11150 450 600
STAPLES INC SUB 855030AB8 1013 970000 PRN DEFINED 02 605000 65000 300000
STATE STR BOSTON CORP COM 857473102 306 7925 SH DEFINED 02 0 7425 500
CHAS H STEFFEY INC PAR $1. COM 857993117 287 57500 SH DEFINED 02 0 57500 0
STEWART & STEVENSON SVCS INC COM 860342104 771 18600 SH DEFINED 02 0 0 18600
STRYKER CORP COM 863667101 204 7725 SH DEFINED 02 800 925 6000
STURM & DILLARD COMPANY COM 863992103 3229 216 SH DEFINED 02 216 0 0
SUBURBAN BANCSHARES INC COM 864350103 22 15000 SH DEFINED 02 0 0 15000
SUN INC COM 866762107 355 13219 SH DEFINED 02 1888 5947 5384
SUNTRUST BKS INC COM 867914103 6065 125388 SH DEFINED 02 65468 38670 21250
SYMBION INC COM 871504106 7 42500 SH DEFINED 02 0 42500 0
SYSCO CORP COM 871829107 273 12100 SH DEFINED 02 3900 8200 0
TECO ENERGY INC COM 872375100 299 15684 SH DEFINED 02 6508 6592 2584
TIG HLDGS INC COM 872469101 312 15600 SH DEFINED 02 0 200 15400
TRW INC COM 872649108 293 4544 SH DEFINED 02 2564 980 1000
TAMBRANDS INC COM 875080103 9799 266650 SH DEFINED 02 164775 33750 68125
TECHNE CORP COM 878377100 162 15500 SH DEFINED 02 0 15100 400
TELEFONOS DE MEXICO S A COM 879403780 645 11558 SH DEFINED 02 4300 3425 3833
TENNECO INC PFD 880370721 355 3545 SH DEFINED 02 0 2491 1054
TEXACO INC COM 881694103 2281 37795 SH DEFINED 02 11152 18650 7993
TEXAS INSTRS INC SUB 882508A*5 810 770000 PRN DEFINED 02 25000 0 745000
TEXAS INSTRUMENTS INC COM 882508104 379 4768 SH DEFINED 02 200 2200 2368
TEXAS UTILS CO COM 882848104 3369 107812 SH DEFINED 02 80080 17110 10622
THERMO ELECTRON CORP SUB 883556AE2 20 20000 PRN DEFINED 02 5000 0 15000
THERMO INSTR SYS INC SUB 883559AA4 77 50000 PRN DEFINED 02 50000 0 0
THOMAS & BETTS CORP COM 884315102 5904 96011 SH DEFINED 02 53429 32540 10042
TIME WARNER INC SUB 887315AQ2 437 436000 PRN DEFINED 02 35000 388000 13000
TIME WARNER INC COM 887315109 478 13482 SH DEFINED 02 4800 5704 2978
TIMES MIRROR CO COM 887360105 15512 514932 SH DEFINED 02 296985 72551 145396
TIMES MIRROR CO COM SER C COM 887360303 252 8242 SH DEFINED 02 6942 732 568
TIMKEN CO COM 887389104 4378 133701 SH DEFINED 02 41160 10466 82075
TORCHMARK CORP COM 891027104 416 10673 SH DEFINED 02 0 5423 5250
TOYS R US COM 892335100 674 20592 SH DEFINED 02 7975 12317 300
TRAVELERS INC COM 894190107 1976 61287 SH DEFINED 02 15524 39293 6470
TRIMAS CORP SUB 896215AA8 39 35000 PRN DEFINED 02 35000 0 0
<PAGE> PAGE 13
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
TRINOVA CORP SUB 896678AB5 93 100000 PRN DEFINED 02 100000 0 0
TRINOVA CORP COM 896678109 432 12500 SH DEFINED 02 7550 300 4650
TWEEDY BROWNE FD INC COM 901165100 347 28436 SH DEFINED 02 0 28436 0
TYCO INTL LTD COM 902120104 1121 24444 SH DEFINED 02 75 550 23819
USX CORP SUB 902905AG3 34 80000 PRN DEFINED 02 0 0 80000
USX-MARATHON GROUP NEW COM 902905827 527 31516 SH DEFINED 02 29182 687 1647
UST INC COM 902911106 1302 48000 SH DEFINED 02 42000 6000 0
UNUM CORP COM 903192102 1812 40512 SH DEFINED 02 8650 15362 16500
USF&G CORP COM 903290104 804 65655 SH DEFINED 02 1485 39177 24993
USF&G CORP CPF 903290302 1199 19500 PRN DEFINED 02 12200 0 7300
UNIFI INC COM 904677101 703 30100 SH DEFINED 02 2900 6400 20800
UNILEVER N V COM 904784501 3409 33840 SH DEFINED 02 10065 14180 9595
UNION CAMP CORP COM 905530101 25025 551516 SH DEFINED 02 341490 70251 139775
UNION NATL BK WESTMINSTER MD COM 907600100 350 7000 SH DEFINED 02 0 0 7000
UNION PAC CORP COM 907818108 13818 244030 SH DEFINED 02 96783 85951 61296
UNITED DOMINION RLTY TR INC COM 910197102 231 16500 SH DEFINED 02 0 3000 13500
U S BANCORP COM 911596104 207 8000 SH DEFINED 02 0 2000 6000
UNITED PARACALE MNG CO COM 911990307 0 25834 SH DEFINED 02 25834 0 0
U S WEST INC COM 912889102 1044 24948 SH DEFINED 02 9234 10096 5618
UNITED TECHNOLOGIES CORP COM 913017109 25144 391349 SH DEFINED 02 268859 63536 58954
UNIVERSAL CORP VA COM 913456109 532 27290 SH DEFINED 02 600 25090 1600
V F CORP COM 918204108 11552 243210 SH DEFINED 02 133050 15160 95000
VLSI TECHNOLOGY INC SUB 918270AA7 129 140000 PRN DEFINED 02 130000 0 10000
VALUE LINE U S GOVT SECS FD COM 920466109 2959 266356 SH DEFINED 02 266356 0 0
VANCE SANDERS EXCH FD COM 921902102 1152 4869 SH DEFINED 02 2167 2702 0
VANGUARD / WINDSOR FD INC COM 922018106 189 13563 SH DEFINED 02 2895 10668 0
VANGUARD INDEX TR COM 922908108 401 9612 SH DEFINED 02 0 0 9612
VANGUARD INDEX TR COM 922908306 255 23117 SH DEFINED 02 0 0 23117
VIACOM INC COM 925524308 467 15080 SH DEFINED 02 0 15080 0
WMX TECHNOLOGIES INC COM 92929Q107 1692 63859 SH DEFINED 02 26237 19907 17715
WPG TUDOR FD COM 92930L105 308 15628 SH DEFINED 02 15628 0 0
WPG GROWTH & INCOME FD COM 929302107 653 29754 SH DEFINED 02 29754 0 0
WABAN INC SUB 929394AA2 184 200000 PRN DEFINED 02 140000 0 60000
WACHOVIA CORP NEW COM 929771103 656 19815 SH DEFINED 02 4025 13690 2100
W&L SALES CO INC COM 929990406 0 569758 SH DEFINED 02 569758 0 0
WAL MART STORES INC COM 931142103 4191 172825 SH DEFINED 02 29625 126100 17100
WARNACO GROUP INC COM 934390105 396 13500 SH DEFINED 02 0 0 13500
WARNER LAMBERT CO COM 934488107 21969 332871 SH DEFINED 02 119625 129441 83805
WASHINGTON GAS LT CO COM 938837101 296 7858 SH DEFINED 02 2918 3995 945
WASHINGTON GAS LT CO COM 938837101 13 346 SH DEFINED 01 346 0 0
WASHINGTON POST CO COM 939640108 15074 65189 SH DEFINED 02 27125 2507 35557
WEINGARTEN RLTY INVS COM 948741103 235 6200 SH DEFINED 02 0 3500 2700
WEISS PECK & GREER FDS TR COM 949024103 481 52089 SH DEFINED 02 52089 0 0
WEISS PECK & GREER FDS TR COM 949024509 443 83130 SH DEFINED 02 83130 0 0
WELLFLEET COMMUNICATIONS INC COM 949497101 285 11432 SH DEFINED 02 0 6732 4700
WESTINGHOUSE ELEC CORP COM 960402105 200 17235 SH DEFINED 02 4560 9624 3051
WESTLAND GARDENS CO COM 960990208 224 75 SH DEFINED 02 0 0 75
WESTVACO CORP COM 961548104 12224 397542 SH DEFINED 02 277777 73716 46049
WEYERHAEUSER CO COM 962166104 487 12199 SH DEFINED 02 1849 10130 220
WHIRLPOOL CORP COM 963320106 3634 69225 SH DEFINED 02 8500 41375 19350
<PAGE> PAGE 14
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
WHITMAN CORP COM 96647K102 171 11056 SH DEFINED 02 0 2000 9056
WHITTAKER CORPORATION NEW COM 966680407 450 30000 SH DEFINED 02 0 30000 0
WHOLE FOODS MKT INC COM 966837106 291 18814 SH DEFINED 02 0 3000 15814
WILLCOX & GIBBS INC SUB 969207AC3 81 100000 PRN DEFINED 02 0 0 100000
WILLS GROUP INC COM 971990205 3817 43881 SH DEFINED 02 0 43881 0
WISCONSIN ENERGY CORP COM 976657106 6510 272691 SH DEFINED 02 113191 52202 107298
WITCO CORP COM 977385103 25636 869045 SH DEFINED 02 408710 199835 260500
WOLVERINE TUBE INC COM 978093102 260 11508 SH DEFINED 02 200 750 10558
WORTHINGTON INDS INC COM 981811102 990 53550 SH DEFINED 02 15525 30525 7500
WRIGLEY WM JR CO COM 982526105 240 5070 SH DEFINED 02 1860 3120 90
XEROX CORP COM 984121103 928 9496 SH DEFINED 02 2725 4879 1892
YORK INTL CORP NEW COM 986670107 378 10308 SH DEFINED 02 75 1400 8833
REPORT SUMMARY 612 DATA RECORDS 3216566 2 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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