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<TABLE>
<C> <C>
<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 12/31/94
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 02/01/95
Other Managers on Whose Behalf this Report is Filed:
01 FREDERICKTOWN BANK & TRUST
02 MERCANTILE-SAFE DEPOSIT & TRUST COMPANY 028-00125
03 THE NATIONAL BANK OF FREDERICKSBURG
<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
ABN AMRO HLDG N V COM 000937102 625 18000 SH DEFINED 02 18000 0 0
ALC COMMUNICATIONS CORP COM 001575307 557 17900 SH DEFINED 02 0 0 17900
AT&T CORP COM 001957109 17158 341469 SH DEFINED 02 137345 102928 101196
AT&T CORP COM 001957109 283 5633 SH DEFINED 03 5433 0 200
ABBOTT LABS COM 002824100 7180 220092 SH DEFINED 02 35588 88174 96330
ABBOTT LABS COM 002824100 238 7300 SH DEFINED 03 6650 0 650
ACUSON COM 005113105 585 36000 SH DEFINED 02 33300 100 2600
ADVANCED TECHNOLOGY LABS INC COM 00755N106 265 14325 SH DEFINED 02 975 80 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 1287 27327 SH DEFINED 02 9804 8955 8568
AHMANSON H F & CO COM 008677106 2212 137200 SH DEFINED 02 131400 0 5800
AIR PRODS & CHEMS INC COM 009158106 11928 267295 SH DEFINED 02 137288 95287 34720
AIR PRODS & CHEMS INC COM 009158106 48 1075 SH DEFINED 03 1075 0 0
AIRTOUCH COMMUNICATIONS INC COM 00949T100 10895 374082 SH DEFINED 02 196178 101049 76855
AIRTOUCH COMMUNICATIONS INC COM 00949T100 22 756 SH DEFINED 03 676 0 80
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 247 8550 SH DEFINED 02 0 6400 2150
ALCAN ALUM LTD NEW COM 013716105 370 14585 SH DEFINED 02 4365 850 9370
ALCO STD CORP COM 013788104 2299 36652 SH DEFINED 02 300 1750 34602
ALCO STD CORP CPF 013788500 326 4508 PRN DEFINED 02 50 350 4108
ALEX BROWN INC COM 013902101 471 15507 SH DEFINED 02 0 15507 0
ALEXANDER & ALEXANDER SVCS INC SUB 014476AA3 4 4000 PRN DEFINED 02 4000 0 0
ALLEGHENY PWR SYS INC COM 017411109 463 21306 SH DEFINED 02 6000 10506 4800
ALLEN GROUP INC COM 017634106 136 5700 SH DEFINED 03 5700 0 0
ALLERGAN INC COM 018490102 290 10284 SH DEFINED 02 3684 5200 1400
ALLIANCE FD COM 01859K105 74 13241 SH DEFINED 02 0 0 13241
ALLIED SIGNAL INC COM 019512102 532 15654 SH DEFINED 02 5510 9668 476
ALLIED SIGNAL INC COM 019512102 136 4000 SH DEFINED 03 4000 0 0
ALLMERICA PPTY & CAS COS INC COM 01975T105 182 10800 SH DEFINED 02 0 10800 0
ALLSTATE CORP COM 020002101 632 26650 SH DEFINED 02 6300 14700 5650
ALLTRISTA CORP COM 020040101 379 19210 SH DEFINED 02 0 19100 110
ALUMINUM CO AMER COM 022249106 5791 66854 SH DEFINED 02 44029 17430 5395
AMERADA HESS CORP COM 023551104 630 13821 SH DEFINED 02 500 2245 11076
AMERICAN ASIATIC OIL CORP COM 023879109 0 200000 SH DEFINED 02 0 90000 110000
AMERICAN BRANDS INC COM 024703100 3343 89163 SH DEFINED 02 31382 31240 26541
AMERICAN ELEC PWR INC COM 025537101 518 15784 SH DEFINED 02 3742 7207 4835
AMERICAN EXPRESS CO COM 025816109 531 18000 SH DEFINED 02 6198 5302 6500
AMERICAN EXPRESS CO COM 025816109 1208 40973 SH DEFINED 02 22456 15665 2852
AMERICAN GENERAL CORP COM 026351106 7360 260551 SH DEFINED 02 68636 149609 42306
AMERICAN GREETINGS CORP COM 026375105 588 21800 SH DEFINED 02 1500 0 20300
AMERICAN HOME PRODS CORP COM 026609107 63151 1006396 SH DEFINED 02 485192 271552 249652
AMERICAN HOME PRODS CORP COM 026609107 216 3450 SH DEFINED 03 3350 0 100
AMERICAN INTL GROUP INC COM 026874107 8518 86920 SH DEFINED 02 35733 21824 29363
AMERITECH CORP NEW COM 030954101 26473 655688 SH DEFINED 02 328796 164019 162873
AMERITECH CORP NEW COM 030954101 52 1276 SH DEFINED 03 1156 0 120
AMGEN INC COM 031162100 1019 17275 SH DEFINED 02 14050 2400 825
AMOCO CDA PETE CO SUB 031678AC9 128 112000 PRN DEFINED 02 108000 1000 3000
AMP INC COM 031897101 28628 393519 SH DEFINED 02 194846 111440 87233
<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
AMP INC COM 031897101 76 1050 SH DEFINED 03 900 0 150
AMOCO CORP COM 031905102 47864 809550 SH DEFINED 02 433789 203997 171764
AMOCO CORP COM 031905102 140 2369 SH DEFINED 03 1019 0 1350
AMSOUTH BANCORPORATION COM 032165102 350 13605 SH DEFINED 02 0 0 13605
ANHEUSER BUSCH COS INC COM 035229103 443 8722 SH DEFINED 02 350 3968 4404
AON CORP COM 037389103 462 14448 SH DEFINED 02 504 5388 8556
AON CORP COM 037389103 46 1449 SH DEFINED 03 1149 0 300
APPLE COMPUTER INC COM 037833100 25103 643689 SH DEFINED 02 438999 56350 148340
ARCHER DANIELS MIDLAND CO COM 039483102 795 38567 SH DEFINED 02 363 17252 20952
ARCHER DANIELS MIDLAND CO COM 039483102 11 519 SH DEFINED 03 519 0 0
GUINNESS PLC ORD GBP 0.25 COM 039600002 84 12000 SH DEFINED 02 0 12000 0
ASEA AB COM 043655307 5176 71770 SH DEFINED 02 33671 23775 14324
ASHLAND OIL INC CPF 044540870 300 5250 PRN DEFINED 02 50 200 5000
ATLANTA GAS LT CO COM 047753108 564 18824 SH DEFINED 02 8177 6364 4283
ATLANTIC RICHFIELD CO COM 048825103 35141 345371 SH DEFINED 02 199008 82357 64006
ATLANTIC RICHFIELD CO COM 048825103 8 80 SH DEFINED 03 80 0 0
AURA SYS INC COM 051526101 70 16000 SH DEFINED 02 0 0 16000
AUTODESK INC COM 052769106 6045 152575 SH DEFINED 02 105050 20800 26725
AVERY DENNISON CORP COM 053611109 491 13848 SH DEFINED 02 4200 5248 4400
AVNET INC SUB 053807AB9 703 700000 PRN DEFINED 02 565000 30000 105000
AVNET INC COM 053807103 656 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 888 48671 SH DEFINED 02 40275 2176 6220
BALTIMORE CEMETERY COMPANY COM 058991100 1755 58500 SH DEFINED 02 58500 0 0
BALTIMORE GAS & ELEC CO COM 059165100 17526 792137 SH DEFINED 02 263933 269772 258432
BALTIMORE GAS & ELEC CO COM 059165100 33 1500 SH DEFINED 03 1500 0 0
BALTIMORE RADIO SHOW INC COM 059275107 0 10578 SH DEFINED 02 0 10578 0
BANC ONE CORP COM 059438101 268 10583 SH DEFINED 02 381 4931 5271
BANTA CORP COM 066821109 240 7950 SH DEFINED 02 0 200 7750
BARD C R INC COM 067383109 513 19005 SH DEFINED 02 16805 2200 0
BARNES & NOBLE INC COM 067774109 803 25700 SH DEFINED 02 0 0 25700
BARNETT BKS INC COM 068055102 4004 104023 SH DEFINED 02 73298 12150 18575
BARNETT BKS INC COM 068055102 56 1446 SH DEFINED 03 1446 0 0
BARNETT BKS INC CPF 068055300 1504 20200 PRN DEFINED 02 14500 1275 4425
BAXTER INTL INC COM 071813109 1384 49017 SH DEFINED 02 11279 16830 20908
BAY NETWORKS INC COM 072510100 337 11432 SH DEFINED 02 2000 6732 2700
BEARINGS INC NEW COM 074005208 1483 44462 SH DEFINED 02 37250 1925 5287
BECKMAN INSTRS INC COM 075816108 600 21546 SH DEFINED 02 11507 1812 8227
BECTON DICKINSON & CO COM 075887109 884 18425 SH DEFINED 02 1400 13400 3625
BELL ATLANTIC CORP COM 077853109 40842 820957 SH DEFINED 02 442305 190515 188137
BELL ATLANTIC CORP COM 077853109 130 2614 SH DEFINED 03 2614 0 0
BELLSOUTH CORP COM 079860102 33766 623853 SH DEFINED 02 353682 112760 157411
BELLSOUTH CORP COM 079860102 167 3086 SH DEFINED 03 2936 0 150
BEMIS INC COM 081437105 237 9900 SH DEFINED 02 0 0 9900
BENEFICIAL CORP COM 081721102 738 18932 SH DEFINED 02 12674 4658 1600
BENHAM GOVT INCOME TR COM 081867103 404 40872 SH DEFINED 02 40872 0 0
BERKSHIRE HATHAWAY INC DEL COM 084670108 55304 2711 SH DEFINED 02 10 795 1906
BETZ LABS INC COM 087779104 3204 72414 SH DEFINED 02 53314 5300 13800
BIOWHITTAKER INC COM 09066T108 95 14700 SH DEFINED 02 0 14700 0
BLACK & DECKER CORP COM 091797100 784 33021 SH DEFINED 02 15601 8941 8479
<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
BLOCK H & R INC COM 093671105 508 13700 SH DEFINED 02 900 0 12800
BOEING CO COM 097023105 7615 162036 SH DEFINED 02 112801 30437 18798
BOISE CASCADE CORP SUB 097383AK9 59 70000 PRN DEFINED 02 50000 0 20000
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 639 27226 SH DEFINED 02 0 27226 0
BRISTOL MYERS SQUIBB CO COM 110122108 74040 1279324 SH DEFINED 02 546355 202781 530188
BRISTOL MYERS SQUIBB CO COM 110122108 182 3150 SH DEFINED 03 2950 0 200
BRITISH PETE LTD COM 110889409 14487 181380 SH DEFINED 02 144504 10861 26015
BROOKLYN UN GAS CO COM 114259104 7252 325934 SH DEFINED 02 230775 47574 47585
BROWN & SHARPE MFG CO SUB 115223AA7 4 5000 PRN DEFINED 02 5000 0 0
BROWNING FERRIS INDS INC SUB 115885AF2 22 25000 PRN DEFINED 02 0 0 25000
BROWNING FERRIS INDS INC SUB 115885AF2 18 20000 PRN DEFINED 03 20000 0 0
BUILDERS TRANS INC SUB 120084AA6 253 300000 PRN DEFINED 02 190000 0 110000
BURLINGTON NORTHERN INC COM 121897102 459 9556 SH DEFINED 02 3700 3230 2626
BURLINGTON NORTHERN INC COM 121897102 10 200 SH DEFINED 03 200 0 0
BURLINGTON RES INC COM 122014103 487 13934 SH DEFINED 02 1000 10129 2805
BURLINGTON RES INC COM 122014103 42 1200 SH DEFINED 03 1200 0 0
BURMAH CASTROL PLC COM 122169303 202 7871 SH DEFINED 02 0 5892 1979
CBS INC COM 124845108 235 4260 SH DEFINED 02 2800 765 695
CIGNA CORP SUB 125509AB5 45 45000 PRN DEFINED 02 0 0 45000
CIGNA CORP COM 125509109 1069 16808 SH DEFINED 02 9398 764 6646
CPC INTL INC COM 126149103 10482 196852 SH DEFINED 02 79010 80574 37268
CSX CORP COM 126408103 2555 36699 SH DEFINED 02 11001 16108 9590
CSX CORP COM 126408103 28 400 SH DEFINED 03 400 0 0
CUC INTL INC COM 126545102 541 16300 SH DEFINED 02 0 0 16300
CACI INTL INC COM 127190304 2602 257042 SH DEFINED 02 0 0 257042
CAMCO INTL INC COM 132632100 536 28400 SH DEFINED 02 0 0 28400
CAMPBELL SOUP CO COM 134429109 206 4692 SH DEFINED 02 2792 700 1200
CAPITAL CITIES ABC INC COM 139859102 980 11500 SH DEFINED 02 0 3500 8000
CAPITAL EXCHANGE FD INC COM 140105107 259 1484 SH DEFINED 02 0 1484 0
CARNIVAL CORP CL A COM 143658102 595 28000 SH DEFINED 02 0 0 28000
CAROLINA PWR & LT CO COM 144141108 455 17100 SH DEFINED 02 2900 9130 5070
CAROLINA PWR & LT CO COM 144141108 21 800 SH DEFINED 03 800 0 0
CATERPILLAR INC COM 149123101 21587 391619 SH DEFINED 02 272326 19802 99491
CEDAAR FAIR L P COM 150185106 236 8000 SH DEFINED 02 1000 2000 5000
CENTRAL & SOUTH WEST CORP COM 152357109 533 23589 SH DEFINED 02 6559 10940 6090
CENTRAL & SOUTH WEST CORP COM 152357109 164 7256 SH DEFINED 03 7256 0 0
CENTURY TEL ENTERPRISES INC COM 156686107 758 25700 SH DEFINED 02 0 0 25700
CHEMICAL BKG CORP COM 163722101 237 6623 SH DEFINED 02 250 3622 2751
CHEVRON CORP COM 166751107 34839 780719 SH DEFINED 02 447130 132276 201313
CHEVRON CORP COM 166751107 52 1168 SH DEFINED 03 1168 0 0
CHRYSLER CORP COM 171196108 429 8768 SH DEFINED 02 4390 900 3478
CHUBB CORP COM 171232101 35276 455918 SH DEFINED 02 268079 55283 132556
CISCO SYS INC COM 17275R102 418 11910 SH DEFINED 02 7000 0 4910
CITICORP COM 173034109 695 16820 SH DEFINED 02 4592 6276 5952
CITICORP COM 173034109 17 400 SH DEFINED 03 400 0 0
CLUB CAR INC COM 18947B103 445 27000 SH DEFINED 02 0 0 27000
COCA COLA CO COM 191216100 51316 996432 SH DEFINED 02 448366 313901 234165
COCA COLA CO COM 191216100 70 1360 SH DEFINED 03 1360 0 0
<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
COLGATE PALMOLIVE CO COM 194162103 4905 77406 SH DEFINED 02 29194 27650 20562
COLGATE PALMOLIVE CO COM 194162103 67 1050 SH DEFINED 03 900 0 150
COLLEGE MANOR INC COM 194990305 517 326 SH DEFINED 02 0 326 0
COLUMBIA / HCA HEALTHCARE COM 197677107 1056 28942 SH DEFINED 02 10535 18407 0
COMERICA INC COM 200340107 610 25060 SH DEFINED 02 9910 0 15150
COMPUTER DATA SYS COM 205017106 187 20000 SH DEFINED 02 0 20000 0
CONCORD EFS INC COM 206189102 450 18000 SH DEFINED 02 0 14550 3450
CONRAIL INC COM 208368100 1515 30000 SH DEFINED 02 1800 26700 1500
CONSECO INC COM 208464107 286 6628 SH DEFINED 02 3200 0 3428
CONSOLIDATED EDISON CO N Y INC COM 209111103 225 8757 SH DEFINED 02 4476 1621 2660
CONSOLIDATED EDISON CO N Y INC COM 209111103 11 440 SH DEFINED 03 440 0 0
CONSOLIDATED NAT GAS CO SUB 209615BL6 38 40000 PRN DEFINED 02 0 40000 0
CONSOLIDATED NAT GAS CO COM 209615103 3599 101408 SH DEFINED 02 38755 37478 25175
CONSOLIDATED NAT GAS CO COM 209615103 70 1970 SH DEFINED 03 1620 0 350
COOPER INDS INC COM 216669101 9039 265859 SH DEFINED 02 173822 46287 45750
COOPER INDS INC CPF 216669507 6700 326833 PRN DEFINED 02 246250 50950 29633
COOPER TIRE & RUBR CO COM 216831107 550 23300 SH DEFINED 02 1300 0 22000
COORS ADOLPH CO COM 217016104 370 22100 SH DEFINED 02 800 17500 3800
CORESTATES FINL CORP COM 218695104 46299 1780752 SH DEFINED 02 1016409 380953 383390
CORNING INC COM 219350105 763 25566 SH DEFINED 02 9404 3304 12858
COSTCO WHSL CORP SUB 221607AB0 81 100000 PRN DEFINED 02 100000 0 0
CUSTER CHANNEL WING CORP COM 231705203 0 16000 SH DEFINED 02 16000 0 0
DPL INC COM 233293109 7338 357955 SH DEFINED 02 294100 18305 45550
DSC COMMUNICATIONS COM 233311109 447 12480 SH DEFINED 02 1750 7800 2930
DANA CORP COM 235811106 6336 269646 SH DEFINED 02 126668 20460 122518
DANKA BUSINESS SYS PLC COM 236277109 784 36300 SH DEFINED 02 0 0 36300
DEAN WITTER DISCOVER & CO COM 24240V101 295 8734 SH DEFINED 02 3732 936 4066
DEERE & CO COM 244199105 14804 223465 SH DEFINED 02 127925 24399 71141
DELMARVA PWR & LT CO COM 247109101 591 32600 SH DEFINED 02 3539 16164 12897
DELMARVA PWR & LT CO COM 247109101 3 150 SH DEFINED 03 150 0 0
DELTA AIR LINES INC DEL COM 247361108 6086 120525 SH DEFINED 02 98000 5275 17250
DELTA AIR LINES INC DEL CPF 247361306 8823 201685 PRN DEFINED 02 137855 25467 38363
DELTA WOODSIDE INDS INC NEW COM 247909104 3263 283800 SH DEFINED 02 198050 7300 78450
DEXTER CORP COM 252165105 7276 334533 SH DEFINED 02 195075 23583 115875
DIGI INTL INC COM 253798102 255 13600 SH DEFINED 02 0 9300 4300
DIGITAL EQUIP CORP COM 253849103 13115 394454 SH DEFINED 02 303082 46467 44905
DILLARD DEPT STORES INC COM 254063100 428 16000 SH DEFINED 02 900 0 15100
DISNEY WALT CO COM 254687106 1911 41564 SH DEFINED 02 4168 22056 15340
DISNEY WALT CO COM 254687106 91 1976 SH DEFINED 03 1976 0 0
DR PEPPER / SEVEN-UP COS INC COM 256131301 381 14900 SH DEFINED 02 0 0 14900
DR PEPPER / SEVEN-UP COS INC COM 256131301 133 5200 SH DEFINED 03 5200 0 0
DOMINION RES INC VA COM 257470104 791 21996 SH DEFINED 02 6385 9456 6155
DOMINION RES INC VA COM 257470104 304 8431 SH DEFINED 03 8231 0 200
DONALDSON INC COM 257651109 669 28042 SH DEFINED 02 1124 10600 16318
DONNELLEY R R & SONS CO COM 257867101 2993 101459 SH DEFINED 02 33050 45909 22500
DOVER CORP COM 260003108 7893 152900 SH DEFINED 02 64717 36050 52133
DOW CHEM CO SUB 260543BB8 73 75000 PRN DEFINED 02 0 10000 65000
DOW CHEM CO COM 260543103 32432 482272 SH DEFINED 02 256499 147207 78566
DRESSER INDS INC COM 261597108 17664 935873 SH DEFINED 02 499623 239423 196827
DREYFUS SHORT INTER GOVT FD COM 261919104 527 50140 SH DEFINED 02 50140 0 0
<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
DU PONT E I DE NEMOURS & CO COM 263534109 52669 938427 SH DEFINED 02 439772 280420 218235
DU PONT E I DE NEMOURS & CO COM 263534109 76 1350 SH DEFINED 03 1350 0 0
DUKE PWR CO COM 264399106 6696 175650 SH DEFINED 02 94067 33067 48516
DUKE PWR CO COM 264399106 46 1200 SH DEFINED 03 1200 0 0
DUN & BRADSTREET CORP COM 264830100 67419 1225806 SH DEFINED 02 971106 139615 115085
DUN & BRADSTREET CORP COM 264830100 22 400 SH DEFINED 03 400 0 0
DUNDEE MLS INC COM 265219105 1224 680 SH DEFINED 02 680 0 0
EASTMAN CHEM CO COM 277432100 777 15395 SH DEFINED 02 5752 6853 2790
EASTMAN KODAK CO COM 277461109 8664 181447 SH DEFINED 02 63597 63546 54304
EASTMAN KODAK CO COM 277461109 5 101 SH DEFINED 03 101 0 0
ECCLESTON LAND COMPANY COMMON COM 277994109 219 2972 SH DEFINED 02 2162 0 810
EATON CORP COM 278058102 3092 62484 SH DEFINED 02 34602 10484 17398
EATON CORP COM 278058102 38 766 SH DEFINED 03 766 0 0
ECHLIN INC COM 278749106 243 8100 SH DEFINED 02 1700 0 6400
ECOLAB INC COM 278865100 308 14800 SH DEFINED 02 100 300 14400
EMERSON ELEC CO COM 291011104 25877 414873 SH DEFINED 02 235013 74495 105365
EMERSON ELEC CO COM 291011104 106 1700 SH DEFINED 03 1450 0 250
ENRON CORP COM 293561106 7207 236299 SH DEFINED 02 76610 42584 117105
EQUITABLE GAS CO SUB 294497AJ1 269 120000 PRN DEFINED 02 0 0 120000
EQUITABLE RES INC COM 294549100 24022 885620 SH DEFINED 02 598650 127738 159232
EQUITEC FINL GROUP INC SUB 294588AC2 1 50000 PRN DEFINED 02 0 0 50000
ERICSSON L M TEL CO COM 294821400 4195 76100 SH DEFINED 02 13850 42600 19650
EURO PAC GROWTH FD COM 298706102 1214 57467 SH DEFINED 02 57467 0 0
EXXON CORP COM 302290101 117161 1928585 SH DEFINED 02 874065 637527 416993
EXXON CORP COM 302290101 323 5328 SH DEFINED 03 5203 0 125
F&M BANCORP COM 302367107 2122 71329 SH DEFINED 02 2172 50779 18378
FPL GROUP INC COM 302571104 309 8822 SH DEFINED 02 4950 937 2935
FCNB CORP COM 302920103 781 25225 SH DEFINED 02 7858 9106 8261
FARMERS NATL BANCORP MD COM 309630101 254 5200 SH DEFINED 02 0 0 5200
FASTENAL CO COM 311900104 787 19265 SH DEFINED 02 0 14800 4465
FEDERAL HOME LN MTG CORP COM 313400301 899 17806 SH DEFINED 02 1800 4206 11800
FIDELITY ADVISOR SER I COM 315805101 567 19861 SH DEFINED 02 0 19861 0
FIDELITY VALUE FD COM 316464106 225 5517 SH DEFINED 02 5517 0 0
FIRST AMER BK CORP COM 318906104 421 14062 SH DEFINED 02 14062 0 0
FIRST BK SYS INC COM 319279105 444 13400 SH DEFINED 02 0 13400 0
FIRST CHICAGO CORP COM 319455101 253 5306 SH DEFINED 02 0 4406 900
FIRST COLONY CORP COM 319741104 6091 272233 SH DEFINED 02 243800 6367 22066
FIRST COLONY CORP COM 319741104 3 133 SH DEFINED 03 133 0 0
FIRST FID BANCORPORATION NEW COM 320195100 299 6676 SH DEFINED 02 3956 400 2320
FIRST FID BANCORPORATION NEW COM 320195100 23 520 SH DEFINED 03 520 0 0
FIRST FINL MGMT CORP COM 320245103 277 4500 SH DEFINED 02 0 0 4500
FIRSTAR CORP NEW COM 33761C103 290 10796 SH DEFINED 02 0 0 10796
FISERV INC COM 337738108 877 40800 SH DEFINED 02 0 8500 32300
FISHER SCIENTIFIC INTL INC SUB 338032AA3 234 260000 PRN DEFINED 02 0 25000 235000
FLAG INVS VALUE BLDR FD INC COM 33832R105 165 14922 SH DEFINED 02 0 0 14922
FLAG INVS TEL INCOME FD INC COM 338331101 569 46334 SH DEFINED 02 7246 39088 0
FLEETWOOD ENTERPRISES INC COM 339099103 3388 180700 SH DEFINED 02 49400 88000 43300
FLEMING COS INC COM 339130106 8929 384075 SH DEFINED 02 266495 8420 109160
FLIGHTSAFETY INTL INC COM 339423105 414 10191 SH DEFINED 02 541 300 9350
FLORIDA EAST COAST INDS INC COM 340632108 2640 40000 SH DEFINED 02 0 0 40000
<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
FLORIDA PROGRESS CORP COM 341109106 315 10529 SH DEFINED 02 200 9829 500
FORD MTR CO DEL COM 345370100 389 13974 SH DEFINED 02 801 3640 9533
FORD MTR CO DEL COM 345370100 50 1792 SH DEFINED 03 1792 0 0
FREEPORT MCMORAN INC COM 356714105 588 33158 SH DEFINED 02 1452 11360 20346
FREEPORT MCMORAN RESOURCE COM 356903104 147 10116 SH DEFINED 02 200 4816 5100
FRITZ COS INC COM 358846103 360 7675 SH DEFINED 02 0 6200 1475
GTE CORP COM 362320103 15480 509649 SH DEFINED 02 218101 178964 112584
GTE CORP COM 362320103 438 14434 SH DEFINED 03 13684 0 750
GANNETT INC COM 364730101 10630 199634 SH DEFINED 02 105011 60409 34214
GARDNER DENVER MACHY INC COM 365558105 390 39000 SH DEFINED 02 1866 36324 810
GENERAL DYNAMICS CORP COM 369550108 217 5000 SH DEFINED 02 0 5000 0
GENERAL ELEC CO COM 369604103 135374 2654401 SH DEFINED 02 1207668 938561 508172
GENERAL ELEC CO COM 369604103 594 11654 SH DEFINED 03 11254 0 400
GENERAL MILLS INC COM 370334104 1017 17810 SH DEFINED 02 13160 3950 700
GENERAL MOTORS CORP COM 370442105 10058 238766 SH DEFINED 02 110558 40460 87748
GENERAL MOTORS CORP COM 370442105 19 460 SH DEFINED 03 460 0 0
GENERAL MTRS CORP COM 370442402 658 17157 SH DEFINED 02 6730 4229 6198
GENERAL MTRS CORP COM 370442402 10 248 SH DEFINED 03 48 0 200
GENERAL RE CORP COM 370563108 36308 293993 SH DEFINED 02 182191 51486 60316
GENERAL RE CORP COM 370563108 62 500 SH DEFINED 03 500 0 0
GENETICS INST INC COM 371855305 360 10000 SH DEFINED 02 0 10000 0
GENUINE PARTS CO COM 372460105 10601 294497 SH DEFINED 02 179166 72912 42419
GENUINE PARTS CO COM 372460105 117 3250 SH DEFINED 03 2850 0 400
GENZYME CORP COM 372917104 295 9385 SH DEFINED 02 6400 1500 1485
GEORGIA PAC CORP COM 373298108 499 6983 SH DEFINED 02 1596 3277 2110
GIANT FOOD INC COM 374478105 14347 659665 SH DEFINED 02 401435 161165 97065
GIANT FOOD INC COM 374478105 9 400 SH DEFINED 03 400 0 0
GIDDINGS & LEWIS INC WIS COM 375048105 1125 76332 SH DEFINED 02 75040 212 1080
GILLETTE CO COM 375766102 4510 60240 SH DEFINED 02 3041 12869 44330
GILLETTE CO COM 375766102 60 800 SH DEFINED 03 800 0 0
GLATFELTER P H CO COM 377316104 22739 1467040 SH DEFINED 02 1003250 155916 307874
GRACE W R & CO COM 383883105 469 12146 SH DEFINED 02 54 1860 10232
GRAINGER W W INC COM 384802104 4846 83917 SH DEFINED 02 25070 14330 44517
GRAINGER W W INC COM 384802104 14 250 SH DEFINED 03 250 0 0
GREAT LAKES CHEM CORP COM 390568103 216 3795 SH DEFINED 02 800 1700 1295
GREENERY REHABILITATION GROUP SUB 394797AB0 267 300000 PRN DEFINED 02 150000 0 150000
HALLIBURTON CO COM 406216101 9713 293247 SH DEFINED 02 162372 14967 115908
HANSON PLC COM 411352305 2290 127224 SH DEFINED 02 104889 8915 13420
HARCOURT GEN INC COM 41163G101 955 27100 SH DEFINED 02 900 0 26200
HARSCO CORP COM 415864107 3932 96200 SH DEFINED 02 64765 17100 14335
CETUS CORP SUB 418589II0 294 375000 PRN DEFINED 02 306000 0 69000
HAUSER CHEM RESH INC NEW COM 419141304 81 16675 SH DEFINED 02 0 12000 4675
CHUBB CAPITAL CORP SUB 419447II0 373 370000 PRN DEFINED 02 120000 10000 240000
HEALTH CARE PPTY INVS INC COM 421915109 262 8700 SH DEFINED 02 0 6100 2600
HEINZ H J CO COM 423074103 1075 29252 SH DEFINED 02 4104 14748 10400
DART & KRAFT FIN N V GTD DEB SUB 425676II6 83 40000 PRN DEFINED 02 40000 0 0
HERCULES INC SUB 427056AK2 64 25000 PRN DEFINED 02 0 10000 15000
HERCULES INC COM 427056106 1188 10297 SH DEFINED 02 2400 4250 3647
HERITAGE MEDIA CORP NEW COM 427241203 516 19200 SH DEFINED 02 0 0 19200
HERSHEY FOODS CORP COM 427866108 7770 160629 SH DEFINED 02 90233 30715 39681
<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
HEWLETT PACKARD CO COM 428236103 41149 412009 SH DEFINED 02 247929 64647 99433
HEWLETT PACKARD CO COM 428236103 30 300 SH DEFINED 03 100 0 200
ESTERLINE INTL FIN N V GTD SUB 432043II0 445 450000 PRN DEFINED 02 415000 0 35000
HILTON HOTELS CORP COM 432848109 394 5807 SH DEFINED 02 0 940 4867
HOME DEPOT INC COM 437076102 1762 38306 SH DEFINED 02 2249 19866 16191
HOMESTAKE MNG CO COM 437614100 3020 176362 SH DEFINED 02 56300 12362 107700
HONEYWELL INC COM 438506107 2049 65073 SH DEFINED 02 27283 31852 5938
HOSPITALITYFRAN COM 440912103 686 25900 SH DEFINED 02 0 0 25900
HOUGHTON MIFFLIN CO COM 441560109 538 11858 SH DEFINED 02 0 500 11358
HOUSEHOLD INTL CORP COM 441815107 335 9039 SH DEFINED 02 0 6639 2400
HOUSTON INDS INC COM 442161105 252 7086 SH DEFINED 02 1000 4136 1950
HOUSTON INDS INC COM 442161105 36 1000 SH DEFINED 03 1000 0 0
HUBBELL INC COM 443510201 3893 73120 SH DEFINED 02 16450 16088 40582
HUMANA INC COM 444859102 491 21710 SH DEFINED 02 2910 18800 0
ITT CORP COM 450679105 3904 44052 SH DEFINED 02 11382 17406 15264
ITT CORP COM 450679105 85 956 SH DEFINED 03 956 0 0
LECHTERS INC CONV SUB DEB SUB 450837II2 32 45000 PRN DEFINED 02 45000 0 0
ILLINOIS TOOL WORKS INC COM 452308109 4202 96060 SH DEFINED 02 79170 8900 7990
IMPERIAL CHEM INDS PLC COM 452704505 18906 406586 SH DEFINED 02 270350 39659 96577
IMPERIAL CHEM INDS PLC COM 452704505 28 600 SH DEFINED 03 600 0 0
INDRESCO INC COM 455905109 225 15847 SH DEFINED 02 3202 8150 4495
INGERSOLL RAND CO COM 456866102 8495 269700 SH DEFINED 02 85584 79974 104142
INFORMATION MGMT TECHNS CORP SUB 456990AA8 94 100000 PRN DEFINED 02 0 100000 0
INSURANCE AUTO AUCTIONS INC COM 457875102 235 7700 SH DEFINED 02 0 6500 1200
INTEL CORP COM 458140100 23480 367601 SH DEFINED 02 251008 43967 72626
INTERNATIONAL BUSINESS MACHS COM 459200101 43790 595795 SH DEFINED 02 254563 166863 174369
INTERNATIONAL BUSINESS MACHS COM 459200101 32 430 SH DEFINED 03 430 0 0
INTERNATIONAL FLAVORS & COM 459506101 318 6876 SH DEFINED 02 126 750 6000
INTERNATIONAL PAPER CO COM 460146103 864 11465 SH DEFINED 02 4540 4465 2460
INVESTMENT CO AMER COM 461308108 217 12302 SH DEFINED 02 10545 1757 0
IOWA NATL BANKSHARES CORP COM 462483108 328 14144 SH DEFINED 02 14144 0 0
JACOBSON STORES INC SUB 469834AC9 29 40000 PRN DEFINED 02 0 0 40000
JAMES RIV CORP VA COM 470349101 986 48718 SH DEFINED 02 13218 10900 24600
JAMESWAY CORP SUB 470736AB5 2 15000 PRN DEFINED 02 0 15000 0
JEFFERSON PILOT CORP COM 475070108 4373 84311 SH DEFINED 02 39475 26136 18700
JOHNSON & JOHNSON COM 478160104 58034 1059992 SH DEFINED 02 531632 345668 182692
JOHNSON & JOHNSON COM 478160104 242 4420 SH DEFINED 03 4420 0 0
JOHNSON CTLS INC COM 478366107 2152 43938 SH DEFINED 02 13382 16070 14486
JONES APPAREL GROUP COM 480074103 607 23600 SH DEFINED 02 0 0 23600
K MART CORP COM 482584109 9731 748574 SH DEFINED 02 561233 78952 108389
K N ENERGY INC COM 482620101 7198 303113 SH DEFINED 02 213202 31504 58407
KAMAN CORP SUB 483548AC7 842 1138000 PRN DEFINED 02 852000 124000 162000
KAMAN CORP COM 483548103 2648 240750 SH DEFINED 02 133280 70300 37170
KAMAN CORP CPF 483548509 2456 52535 PRN DEFINED 02 41865 4670 6000
S KANN SONS CO COM STPD COM 483996104 4869 95477 SH DEFINED 02 5280 90077 120
KELLOGG CO COM 487836108 2423 41700 SH DEFINED 02 20300 17900 3500
TEXAS INSTRS INC SUB DEB CONV SUB 488542II4 693 720000 PRN DEFINED 02 25000 0 695000
TRINOVA CORP SUB DEB CONV SUB 490433II2 42 50000 PRN DEFINED 02 50000 0 0
KERR MCGEE CORP COM 492386107 261 5646 SH DEFINED 02 800 4646 200
KERR MCGEE CORP COM 492386107 9 200 SH DEFINED 03 200 0 0
<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
KEYCORP NEW COM 493267108 333 13325 SH DEFINED 02 300 8283 4742
KEYSTONE INTL INC COM 493503106 2829 164024 SH DEFINED 02 120741 23683 19600
KIMBERLY CLARK CORP COM 494368103 1274 25302 SH DEFINED 02 11100 7232 6970
KIMBERLY CLARK CORP COM 494368103 24 480 SH DEFINED 03 480 0 0
KOLLMORGEN CORP SUB 500440AA0 57 67000 PRN DEFINED 02 19000 48000 0
KOPP GLASS INC COM 500990106 254 33950 SH DEFINED 02 33950 0 0
LCI INTL INC COM 501813109 540 20200 SH DEFINED 02 0 0 20200
KRUGERRAND WHOLE SUB 501990501 5 1421 PRN DEFINED 02 0 1419 2
LANDMARK GRAPHICS CORP COM 514913102 5130 285000 SH DEFINED 02 211800 29000 44200
LEGGETT & PLATT INC COM 524660107 420 12000 SH DEFINED 02 0 12000 0
LEGG MASON INC SUB 524901AA3 21 20000 PRN DEFINED 02 0 20000 0
LENNAR CORP COM 526057104 358 23100 SH DEFINED 02 0 0 23100
LEUCADIA NATL CORP COM 527288104 1415 31800 SH DEFINED 02 0 15000 16800
LILLY ELI & CO COM 532457108 2867 43695 SH DEFINED 02 18283 14867 10545
LINCOLN NATL CORP IND COM 534187109 9902 282919 SH DEFINED 02 156669 31800 94450
LOEWS CORP COM 540424108 251 2900 SH DEFINED 02 100 800 2000
LOTUS DEV CORP COM 545700106 1917 46775 SH DEFINED 02 21150 2000 23625
LOUISIANA PAC CORP COM 546347105 245 9001 SH DEFINED 02 500 1184 7317
LOWES COS INC COM 548661107 313 9000 SH DEFINED 03 9000 0 0
LOYOLA CAP CORP COM 549089100 803 45588 SH DEFINED 02 20000 7300 18288
LUBRIZOL CORP COM 549271104 12432 367022 SH DEFINED 02 164690 127875 74457
M A COM SUB 552618AA8 162 175000 PRN DEFINED 02 0 70000 105000
MCI COMMUNICATIONS CORP COM 552673105 6841 372332 SH DEFINED 02 204800 71300 96232
MCI COMMUNICATIONS CORP COM 552673105 4 200 SH DEFINED 03 200 0 0
MGIC INVT CORP WISC COM 552848103 669 20200 SH DEFINED 02 0 0 20200
MSD&T FNDS INC VALUE EQUITY COM 553537507 15461 1277772 SH DEFINED 02 137608 16739 1123425
MSD&T FNDS INC MD TAX-EXEMPT B COM 553537705 5236 539249 SH DEFINED 02 28448 24881 485920
MSD&T FNDS INC INTL EQUITY COM 553537804 50293 4384785 SH DEFINED 02 2351277 983281 1050227
MACNEAL SCHWENDLER CORP SUB 554806AA7 16 20000 PRN DEFINED 02 0 20000 0
MANOR CARE INC COM 564054104 340 12421 SH DEFINED 02 200 2400 9821
MARK IV INDS INC COM 570387100 582 29518 SH DEFINED 02 0 29518 0
MARSH & MCLENNAN COS INC COM 571748102 23232 293153 SH DEFINED 02 185681 63853 43619
MARRIOTT INTL INC COM 571900109 1005 35750 SH DEFINED 02 0 6950 28800
MARTIN MARIETTA CORP NEW COM 572900108 7379 166291 SH DEFINED 02 58032 31342 76917
MARTIN MARIETTA MATLS INC COM 573284106 441 24900 SH DEFINED 02 0 0 24900
MASCO CORP SUB 574599AG1 2816 3599000 PRN DEFINED 02 1747000 495000 1357000
MASCO CORP COM 574599106 226 10000 SH DEFINED 02 1000 1600 7400
MASCO CORP COM 574599106 11 500 SH DEFINED 03 500 0 0
MASCOTECH INC COM 574670105 189 14600 SH DEFINED 02 0 1300 13300
MASKWA NICKEL CHROME MINES LTD COM 574990214 1 12000 SH DEFINED 02 0 0 12000
MASON-DIXON BANCSHARES INC COM 575207105 376 22662 SH DEFINED 02 11337 6327 4998
MATTEL INC COM 577081102 715 28494 SH DEFINED 02 573 9384 18537
MAY DEPT STORES CO COM 577778103 47272 1400664 SH DEFINED 02 585636 536526 278502
MAY DEPT STORES CO COM 577778103 33 975 SH DEFINED 03 775 0 200
MAYTAG CORP COM 578592107 353 23584 SH DEFINED 02 6650 4034 12900
MCCORMICK & CO INC COM 579780107 256 13492 SH DEFINED 02 12500 512 480
MCCORMICK & CO INC COM 579780206 12912 707531 SH DEFINED 02 338146 234118 135267
MCDONALDS CORP COM 580135101 1884 64416 SH DEFINED 02 11801 19655 32960
MCDONALDS CORP COM 580135101 45 1540 SH DEFINED 03 1540 0 0
MCGRAW HILL INC COM 580645109 302 4520 SH DEFINED 02 600 3820 100
<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
MCKESSON CORP NEW COM 581557105 360 11044 SH DEFINED 02 0 11044 0
MEAD CORP COM 582834107 258 5320 SH DEFINED 02 362 2358 2600
MEDICAL CTR INS CO LTD COM 584990105 15 125000 SH DEFINED 02 125000 0 0
MEDTRONIC INC COM 585055106 478 8600 SH DEFINED 02 600 800 7200
MEDUSA CORP SUB 585072AB7 47 50000 PRN DEFINED 02 0 10000 40000
MELVILLE CORP COM 585745102 285 9253 SH DEFINED 02 1349 2912 4992
MERCANTILE BANCORPORATION INC COM 587342106 417 13368 SH DEFINED 02 12694 674 0
MERCANTILE BANKSHARES CORP COM 587405101 40505 2063981 SH DEFINED 02 697703 823624 542654
MERCANTILE BANKSHARES CORP COM 587405101 4818 245575 SH DEFINED 03 144813 0 100762
MERCANTILE BANKSHARES CORP COM 587405101 44 2256 SH DEFINED 01 2256 0 0
MERCK & CO INC COM 589331107 97594 2559863 SH DEFINED 02 1186966 740131 632766
MERCK & CO INC COM 589331107 99 2600 SH DEFINED 03 2600 0 0
MERIDIAN DIAGNOSTICS INC SUB 589602AA9 17 20000 PRN DEFINED 02 20000 0 0
MERRILL LYNCH & CO INC COM 590188108 371 10400 SH DEFINED 02 0 10400 0
MERRY LD & INVT INC COM 590438107 213 9750 SH DEFINED 02 6000 3500 250
MICHAELS STORES INC COM 594087108 496 14300 SH DEFINED 02 0 0 14300
MICROSOFT CORP COM 594918104 2038 33350 SH DEFINED 02 18800 6250 8300
MID-ATLANTIC RLTY TR COM 595232109 91 11147 SH DEFINED 02 6332 3893 922
MILLIPORE CORP COM 601073109 546 11306 SH DEFINED 02 0 5410 5896
MINERALS TECHNOLOGIES INC COM 603158106 918 31400 SH DEFINED 02 0 0 31400
MINNESOTA MNG & MFG CO COM 604059105 55187 1033963 SH DEFINED 02 536086 266878 230999
MINNESOTA MNG & MFG CO COM 604059105 136 2553 SH DEFINED 03 2153 0 400
LLOYD E MITCHELL INC. COM 605996107 221 2214 SH DEFINED 02 0 0 2214
MOBIL CORP COM 607059102 40818 484495 SH DEFINED 02 267490 126745 90260
MOBIL CORP COM 607059102 90 1068 SH DEFINED 03 868 0 200
MOLEX INC COM 608554200 266 8607 SH DEFINED 02 390 0 8217
MONSANTO CO COM 611662107 561 7962 SH DEFINED 02 1020 4516 2426
MONSANTO CO COM 611662107 42 600 SH DEFINED 03 600 0 0
MOOG INC SUB 615394AA1 134 133000 PRN DEFINED 02 109000 0 24000
MORGAN J P & CO INC COM 616880100 18433 328431 SH DEFINED 02 198674 56312 73445
MORTON INTL INC IND COM 619331101 1604 56314 SH DEFINED 02 37500 12189 6625
MOTOROLA INC SUB 620076AJ8 71 100000 PRN DEFINED 02 100000 0 0
MOTOROLA INC COM 620076109 45436 783380 SH DEFINED 02 355626 234836 192918
MURPHY OIL CORP COM 626717102 22500 529433 SH DEFINED 02 316947 64716 147770
MUTUAL SER FD INC COM 628380107 659 8380 SH DEFINED 02 0 8380 0
MYLAN LABS INC COM 628530107 315 11700 SH DEFINED 02 0 5400 6300
NATIONAL CITY CORP COM 635405103 678 26236 SH DEFINED 02 8702 12334 5200
NATIONAL MED ENTERPRISES INC COM 636886103 395 28000 SH DEFINED 02 0 28000 0
NATIONSBANK CORP COM 638585109 2583 57251 SH DEFINED 02 5247 43956 8048
NATIONSBANK CORP COM 638585109 71 1575 SH DEFINED 03 567 0 1008
NATIONWIDE HEALTH PPTYS INC COM 638620104 300 8400 SH DEFINED 02 1200 6800 400
NESTLE S A COM 641069406 12929 271392 SH DEFINED 02 117150 99909 54333
NEUBERGER & BERMAN EQUITY FDS COM 641224209 393 21604 SH DEFINED 02 21604 0 0
NEW ENGLAND ELEC SYS COM 644001109 5967 185756 SH DEFINED 02 140533 13975 31248
KONG WAH HOLDINGS COM 649231008 23 200000 SH DEFINED 02 0 200000 0
NEW YORK VENTURE FD INC COM 650121106 5668 507964 SH DEFINED 02 0 172985 334979
NEWELL CO COM 651192106 10705 509806 SH DEFINED 02 286696 55296 167814
NORAM ENERGY CORP COM 655419109 86 16056 SH DEFINED 02 11000 3956 1100
NORFOLK SOUTHERN CORP COM 655844108 26313 434029 SH DEFINED 02 232694 89006 112329
NORFOLK SOUTHERN CORP COM 655844108 220 3630 SH DEFINED 03 3380 0 250
<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
NORTHEAST UTILS COM 664397106 10617 490965 SH DEFINED 02 333040 115100 42825
NORTHEAST UTILS COM 664397106 22 1000 SH DEFINED 03 1000 0 0
NORTHERN STS PWR CO MINN COM 665772109 1621 36851 SH DEFINED 02 13028 21123 2700
NORTHERN TR CORP COM 665859104 226 6475 SH DEFINED 02 0 0 6475
NOVACARE INC SUB 669930AA7 1394 1835000 PRN DEFINED 02 1690000 0 145000
NOVELL INC COM 670006105 17386 1015275 SH DEFINED 02 810025 55750 149500
NUVEEN SELECT TAX-FREE COM 67062F100 147 11000 SH DEFINED 02 0 0 11000
NUVEEN MUN MKT OPPORTUNITY FD COM 67062W103 536 40483 SH DEFINED 02 1150 3333 36000
NYNEX CORP COM 670768100 641 17469 SH DEFINED 02 4561 8268 4640
NYNEX CORP COM 670768100 112 3060 SH DEFINED 03 3060 0 0
NUVEEN MUN VALUE FD INC COM 670928100 352 37575 SH DEFINED 02 1000 1666 34909
SANTOS LTD COM 677670002 42 15562 SH DEFINED 02 15562 0 0
OLD REP INTL CORP SUB 680223AD6 100 105000 PRN DEFINED 02 0 0 105000
OLIN CORP COM 680665205 4515 87686 SH DEFINED 02 6889 1794 79003
OMNICARE INC SUB 681904AA6 46 30000 PRN DEFINED 02 0 20000 10000
OMNICARE INC COM 681904108 345 7900 SH DEFINED 02 0 6000 1900
OMNICOM GROUP SUB 681919AB2 10 10000 PRN DEFINED 02 0 10000 0
ORION CAP CORP COM 686268103 217 6168 SH DEFINED 02 6168 0 0
ORYX ENERGY CO SUB 68763FAD2 24 35000 PRN DEFINED 02 0 0 35000
PHH CORP COM 693320103 1392 40064 SH DEFINED 02 20800 13018 6246
PNC BK CORP SUB 693475AA3 9 5000 PRN DEFINED 02 0 0 5000
PNC BK CORP COM 693475105 404 19134 SH DEFINED 02 10100 3934 5100
PPG INDS INC COM 693506107 3018 81301 SH DEFINED 02 27654 45636 8011
PACIFIC GAS & ELEC CO COM 694308107 250 10293 SH DEFINED 02 3008 4235 3050
PACIFIC GAS & ELEC CO COM 694308107 19 800 SH DEFINED 03 800 0 0
PACIFIC GULF PPTYS INC SUB 694396AA0 138 155000 PRN DEFINED 02 0 90000 65000
PACIFIC TELESIS GROUP COM 694890104 12246 429693 SH DEFINED 02 234549 105055 90089
PACIFIC TELESIS GROUP COM 694890104 26 927 SH DEFINED 03 847 0 80
PACIFICORP COM 695114108 2483 136999 SH DEFINED 02 79021 38417 19561
PENNEY J C INC COM 708160106 6030 135134 SH DEFINED 02 85690 30484 18960
PENNSYLVANIA MUT FD INC COM 709000103 490 66206 SH DEFINED 02 0 66206 0
PENNSYLVANIA PWR & LT CO COM 709051106 213 11242 SH DEFINED 02 3442 6440 1360
PENNZOIL CO SUB 709903BE7 43 50000 PRN DEFINED 02 50000 0 0
PENNZOIL CO COM 709903108 266 6050 SH DEFINED 02 1171 1523 3356
PEP BOYS MANNY MOE & JACK SUB 713278AG4 33 35000 PRN DEFINED 02 35000 0 0
PEPSICO INC COM 713448108 21953 605617 SH DEFINED 02 361094 129367 115156
PEPSICO INC COM 713448108 154 4275 SH DEFINED 03 3625 0 650
PERKIN ELMER CORP COM 714041100 211 8266 SH DEFINED 02 6100 1700 466
PERPETUAL SVGS BK F S B SUB 714275AA2 0 10000 PRN DEFINED 02 0 10000 0
PETRIE STORES CORP COM 716434105 491 21949 SH DEFINED 02 451 1580 19918
PETROLEUM GEO-SVCS A/S COM 716597109 499 26800 SH DEFINED 02 0 0 26800
PFIZER INC COM 717081103 45823 593179 SH DEFINED 02 297754 174447 120978
PFIZER INC COM 717081103 19 240 SH DEFINED 03 240 0 0
PHELPS DODGE CORP COM 717265102 10163 164258 SH DEFINED 02 123650 16578 24030
PHILIP MORRIS COS INC COM 718154107 68024 1183042 SH DEFINED 02 634636 274596 273810
PHILLIPS PETE CO COM 718507106 239 7304 SH DEFINED 02 300 6504 500
PIER 1 IMPORTS INC COM 720279108 1444 156120 SH DEFINED 02 153840 0 2280
PITNEY BOWES INC COM 724479100 1752 55199 SH DEFINED 02 0 9236 45963
PITNEY BOWES INC COM 724479100 28 900 SH DEFINED 03 650 0 250
PITTWAY CORP DEL COM 725790208 633 15750 SH DEFINED 02 100 300 15350
<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
POTASH CORP SASK INC COM 73755L107 271 7975 SH DEFINED 02 1600 0 6375
POTLATCH CORP COM 737628107 8798 236199 SH DEFINED 02 125325 56501 54373
POTOMAC ELEC PWR CO COM 737679100 823 44816 SH DEFINED 02 15906 15752 13158
POTOMAC ELEC PWR CO COM 737679100 115 6252 SH DEFINED 03 6252 0 0
PREMARK INTL INC COM 740459102 996 22263 SH DEFINED 02 14606 3550 4107
PREMIER ST MUN BD FD COM 740902309 127 10673 SH DEFINED 02 6615 550 3507
PRICE CO SUB 741440AB7 269 355000 PRN DEFINED 02 200000 0 155000
T ROWE PRICE ASSOC INC COM 741477103 3893 129793 SH DEFINED 02 0 125093 4700
T ROWE PRICE GROWTH STK FD COM 741479109 517 27590 SH DEFINED 02 7689 13158 6742
PROCTER & GAMBLE CO COM 742718109 130972 2112462 SH DEFINED 02 1104843 689529 318090
PROCTER & GAMBLE CO COM 742718109 91 1475 SH DEFINED 03 1275 0 200
PROFFITTS INC SUB 742925AA8 99 130000 PRN DEFINED 02 50000 0 80000
PROGRESSIVE CORP OHIO COM 743315103 416 11900 SH DEFINED 02 0 0 11900
PROTECTIVE LIFE CORP COM 743674103 1285 26428 SH DEFINED 02 0 2328 24100
PROVIDENT BANKSHARES CORP COM 743859100 417 19200 SH DEFINED 02 1800 11000 6400
PROVIDENT ST BK PRESTON MD COM 744057100 212 8514 SH DEFINED 02 0 7314 1200
PROVIDIAN CORP COM 744061102 299 9710 SH DEFINED 02 300 5610 3800
PRUDENTIAL MUN SER FD COM 74435M200 240 21655 SH DEFINED 02 0 21655 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 311 11756 SH DEFINED 02 4337 2120 5299
PUBLIC SVC ENTERPRISE GROUP COM 744573106 80 3000 SH DEFINED 03 3000 0 0
QUAKER OATS CO COM 747402105 1205 39216 SH DEFINED 02 2160 29056 8000
QUAKER ST CORP COM 747410108 4217 301231 SH DEFINED 02 114309 38700 148222
QUALCOMM INC COM 747525103 259 10810 SH DEFINED 02 0 7800 3010
QUESTAR CORP COM 748356102 10044 365252 SH DEFINED 02 221550 82852 60850
RJR NABISCO HLDGS CORP COM 74960K108 187 34100 SH DEFINED 02 2500 8000 23600
RPM INC OHIO COM 749685103 279 14914 SH DEFINED 02 1400 12050 1464
RPM INC OHIO COM 749685103 19 1000 SH DEFINED 03 1000 0 0
RALSTON PURINA CO COM 751277302 585 13110 SH DEFINED 02 1904 2900 8306
RALSTON PURINA CO COM 751277302 76 1700 SH DEFINED 03 1700 0 0
RAYTHEON CO COM 755111101 5485 85871 SH DEFINED 02 52383 16264 17224
READERS DIGEST ASSN INC COM 755267101 18082 368085 SH DEFINED 02 270450 41700 55935
READERS DIGEST ASSN INC COM 755267200 995 22250 SH DEFINED 02 12450 8100 1700
REEBOK INTL LTD COM 758110100 718 18200 SH DEFINED 02 0 0 18200
REGIONS FINL CORP COM 758940100 10448 337034 SH DEFINED 02 152152 98749 86133
RESEARCH INDS CORP COM 761004100 187 13650 SH DEFINED 02 0 10700 2950
RETIREMENT PLANNING FDS AMER COM 761293604 232 21805 SH DEFINED 02 0 0 21805
REYNOLDS METALS CO COM 761763101 8138 166099 SH DEFINED 02 129123 13486 23490
RESERVOIR CAP CORP COM 761990407 127 25500 SH DEFINED 02 0 13500 12000
ROCKWELL INTL CORP COM 774347108 225 6298 SH DEFINED 02 5928 0 370
ROHM & HAAS CO COM 775371107 606 10624 SH DEFINED 02 6488 3936 200
ROUSE CO COM 779273101 2426 126059 SH DEFINED 02 1050 68900 56109
T ROWE PRICE EQUITY INCOME FD COM 779547108 472 29589 SH DEFINED 02 28579 1009 0
T ROWE PRICE INTL FD INC COM 77956H203 1632 144200 SH DEFINED 02 144200 0 0
T ROWE PRICE NEW HORIZONS FD COM 779562107 623 42274 SH DEFINED 02 0 18563 23710
T ROWE PRICE ST TAX FREE COM 77957R101 767 80230 SH DEFINED 02 8882 71348 0
T ROWE PRICE TAX FREE INCOME COM 779576107 294 33442 SH DEFINED 02 12522 20919 0
ROYAL DUTCH PETE CO COM 780257705 2058 19102 SH DEFINED 02 5371 9082 4649
ROYAL DUTCH PETE CO COM 780257705 186 1730 SH DEFINED 03 1630 0 100
ROYCE FD COM 780905105 707 77703 SH DEFINED 02 0 77703 0
SCECORP COM 783882103 168 11538 SH DEFINED 02 3989 2986 4563
<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
ST PAUL COS INC COM 792860108 290 6484 SH DEFINED 02 700 2000 3784
SALOMON 6.75% "DEC" (ELKS) CPF 79549B511 276 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 GOLD CORP COM 802176107 137 10607 SH DEFINED 02 1958 6722 1927
SANTA FE PAC GOLD CORP COM 802176107 16 1200 SH DEFINED 03 1200 0 0
SANTA FE PAC CORP COM 802183103 614 35134 SH DEFINED 02 2778 29140 3216
SANTA FE PAC CORP COM 802183103 98 5600 SH DEFINED 03 5600 0 0
SARA LEE CORP COM 803111103 1527 60482 SH DEFINED 02 4300 40960 15222
SARA LEE CORP COM 803111103 121 4800 SH DEFINED 03 4800 0 0
SCANA CORP COM 805898103 345 8212 SH DEFINED 02 3662 3386 1164
SCANA CORP COM 805898103 42 1000 SH DEFINED 03 1000 0 0
SCHERER R P CORP DEL COM 806528105 585 12900 SH DEFINED 02 0 0 12900
SCHERING PLOUGH CORP COM 806605101 19794 267497 SH DEFINED 02 63285 179080 25132
SCHERING PLOUGH CORP COM 806605101 7 100 SH DEFINED 03 100 0 0
SCHLUMBERGER LTD COM 806857108 30024 596022 SH DEFINED 02 382166 106973 106883
SCHLUMBERGER LTD COM 806857108 10 200 SH DEFINED 03 200 0 0
SCHOLASTIC CORP COM 807066105 668 13100 SH DEFINED 02 0 0 13100
SCHULMAN A INC COM 808194104 1241 45154 SH DEFINED 02 0 0 45154
SCOTT PAPER CO COM 809877103 635 9192 SH DEFINED 02 200 3892 5100
SEAGRAM LTD COM 811850106 305 10356 SH DEFINED 02 0 9100 1256
SEARS ROEBUCK & CO COM 812387108 1311 28515 SH DEFINED 02 14292 3900 10323
SENSORMATIC ELECTRS CORP COM 817265101 707 19650 SH DEFINED 02 0 1500 18150
SEQUOIA FD INC COM 817418106 665 11973 SH DEFINED 02 0 3136 8837
SERVICEMASTER LTD PARTNERSHIP COM 817615107 2205 90480 SH DEFINED 02 1350 13727 75403
SHAW INDS INC COM 820286102 258 17400 SH DEFINED 02 3000 13900 500
SHERWIN WILLIAMS CO COM 824348106 597 17892 SH DEFINED 02 1592 8600 7700
SIGNET BKG CORP COM 826681108 2604 90994 SH DEFINED 02 39182 33519 18293
SIGNET BKG CORP COM 826681108 57 2000 SH DEFINED 03 2000 0 0
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 4585 133870 SH DEFINED 02 50466 47620 35784
SONAT INC COM 835415100 1612 57588 SH DEFINED 02 31060 24568 1960
SOUTHERN CO COM 842587107 548 27415 SH DEFINED 02 9216 9408 8791
SOUTHERN CO COM 842587107 20 1000 SH DEFINED 03 1000 0 0
MCNEIL REAL ESTATE FD XXV COM 844990101 14 80000 SH DEFINED 02 0 0 80000
SOUTHWESTERN BELL CORP COM 845333103 1767 43782 SH DEFINED 02 13171 18966 11645
SOUTHWESTERN BELL CORP COM 845333103 68 1678 SH DEFINED 03 1558 0 120
SOUTHWESTERN PUB SVC CO COM 845743103 318 12016 SH DEFINED 02 3320 8396 300
SPACELABS MED INC COM 846247104 333 14325 SH DEFINED 02 975 80 13270
SPARKS ST BK MD COM 84699A107 213 5628 SH DEFINED 02 0 5628 0
SPRINT CORP COM 852061100 799 28927 SH DEFINED 02 12763 11070 5094
SPRINT CORP COM 852061100 5 168 SH DEFINED 03 168 0 0
STANDARD COML CORP SUB 853258AA9 2125 3270000 PRN DEFINED 02 2440000 35000 795000
STANLEY WKS COM 854616109 1097 30700 SH DEFINED 02 15050 5375 10275
STAPLES INC SUB 855030AB8 1130 915000 PRN DEFINED 02 605000 20000 290000
STATE STR BOSTON CORP COM 857473102 352 12325 SH DEFINED 02 3500 3000 5825
CHAS H STEFFEY INC PAR $1. COM 857993117 287 57500 SH DEFINED 02 0 57500 0
STEWART & STEVENSON SVCS INC COM 860342104 547 15871 SH DEFINED 02 0 0 15871
STEWART ENTERPRISES INC COM 860370105 291 11900 SH DEFINED 02 0 0 11900
STRATUS COMPUTER INC COM 863155107 203 5367 SH DEFINED 02 350 600 4417
<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
STRIDE RITE CORP COM 863314100 3126 281037 SH DEFINED 02 143425 9500 128112
STRYKER CORP COM 863667101 260 7100 SH DEFINED 02 800 300 6000
STURM & DILLARD COMPANY COM 863992103 2619 216 SH DEFINED 02 205 0 11
SUBURBAN BANCSHARES INC COM 864350103 20 15000 SH DEFINED 02 0 0 15000
SUN INC COM 866762107 362 12619 SH DEFINED 02 1753 5482 5384
SUN INC COM 866762107 3 108 SH DEFINED 03 108 0 0
SUNTRUST BKS INC COM 867914103 4208 88136 SH DEFINED 02 54540 12450 21146
SYBRON INTL CORP - WISCONSIN COM 87114F106 307 8900 SH DEFINED 02 100 0 8800
SYMBION INC COM 871504106 7 42500 SH DEFINED 02 0 42500 0
SYSCO CORP COM 871829107 298 11600 SH DEFINED 02 3900 7700 0
TECO ENERGY INC COM 872375100 326 16128 SH DEFINED 02 7108 6380 2640
TIG HLDGS INC COM 872469101 461 24600 SH DEFINED 02 0 200 24400
TRW INC COM 872649108 299 4544 SH DEFINED 02 2564 980 1000
TAMBRANDS INC COM 875080103 14340 371280 SH DEFINED 02 220230 58800 92250
TECHNE CORP COM 878377100 187 18300 SH DEFINED 02 0 13100 5200
TECHNOLOGY RESH CORP COM 878727106 37 27626 SH DEFINED 02 0 27626 0
TELEFONOS DE MEXICO S A COM 879403780 229 5593 SH DEFINED 02 700 500 4393
TENNECO INC PFD 880370721 351 3545 SH DEFINED 02 0 2491 1054
TEXACO INC COM 881694103 1943 32453 SH DEFINED 02 10156 14510 7787
TEXACO INC COM 881694103 125 2100 SH DEFINED 03 1800 0 300
TEXAS INSTRUMENTS INC COM 882508104 380 5084 SH DEFINED 02 200 2200 2684
TEXAS INSTRUMENTS INC COM 882508104 66 883 SH DEFINED 03 883 0 0
TEXAS UTILS CO COM 882848104 2447 76475 SH DEFINED 02 59900 11235 5340
TEXAS UTILS CO COM 882848104 64 2000 SH DEFINED 03 2000 0 0
THERMO ELECTRON CORP SUB 883556AE2 74 70000 PRN DEFINED 02 5000 0 65000
THERMO INSTR SYS INC SUB 883559AA4 89 50000 PRN DEFINED 02 50000 0 0
THOMAS & BETTS CORP COM 884315102 6176 92011 SH DEFINED 02 50829 32540 8642
THOMAS & BETTS CORP COM 884315102 77 1150 SH DEFINED 03 900 0 250
TIME WARNER INC SUB 887315AQ2 44 47000 PRN DEFINED 02 0 34000 13000
TIME WARNER INC COM 887315109 336 9582 SH DEFINED 02 1400 5504 2678
TIMES MIRROR CO COM 887360105 10622 338573 SH DEFINED 02 147910 59975 130688
TIMES MIRROR CO COM SER C COM 887360303 235 7840 SH DEFINED 02 6642 330 868
TIMKEN CO COM 887389104 4742 134551 SH DEFINED 02 43285 9266 82000
TORCHMARK CORP COM 891027104 372 10673 SH DEFINED 02 0 5423 5250
TOYS R US COM 892335100 658 21492 SH DEFINED 02 7975 7255 6262
TRAVELERS INC COM 894190107 1840 56840 SH DEFINED 02 7320 42216 7304
TRIMAS CORP SUB 896215AA8 49 50000 PRN DEFINED 02 50000 0 0
TRIMAS CORP COM 896215100 576 28800 SH DEFINED 02 0 0 28800
TRINOVA CORP COM 896678109 240 8200 SH DEFINED 02 4400 300 3500
TWEEDY BROWNE FD INC COM 901165100 337 28436 SH DEFINED 02 0 28436 0
TYCO INTL LTD COM 902120104 1254 26414 SH DEFINED 02 75 550 25789
TYCO INTL LTD COM 902120104 10 200 SH DEFINED 03 0 0 200
USX CORP SUB 902905AG3 35 80000 PRN DEFINED 02 0 0 80000
USX-MARATHON GROUP NEW COM 902905827 572 34987 SH DEFINED 02 29182 4058 1747
USX-MARATHON GROUP NEW COM 902905827 1 90 SH DEFINED 03 90 0 0
UST INC COM 902911106 1342 48150 SH DEFINED 02 42000 0 6150
UNUM CORP COM 903192102 2128 56387 SH DEFINED 02 24075 12750 19562
USF&G CORP COM 903290104 1361 99943 SH DEFINED 02 34715 20392 44836
USF&G CORP CPF 903290302 303 5146 PRN DEFINED 02 4558 0 588
UNIFI INC COM 904677101 844 33100 SH DEFINED 02 0 6400 26700
<PAGE> PAGE 15
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
UNILEVER N V COM 904784501 3997 34315 SH DEFINED 02 8808 13755 11752
UNION CAMP CORP COM 905530101 25476 540616 SH DEFINED 02 342240 67026 131350
UNION CAMP CORP COM 905530101 55 1175 SH DEFINED 03 925 0 250
UNION NATL BANCORP INC COM 907103105 364 14000 SH DEFINED 02 0 0 14000
UNION PAC CORP COM 907818108 10805 238129 SH DEFINED 02 90383 80692 67054
UNITED DOMINION RLTY TR INC COM 910197102 250 17442 SH DEFINED 02 4500 3142 9800
UNITED DOMINION RLTY TR INC COM 910197102 3 200 SH DEFINED 03 200 0 0
U S HEALTHCARE INC COM 911910107 202 4900 SH DEFINED 02 200 2450 2250
UNITED PARACALE MNG CO COM 911990307 0 25834 SH DEFINED 02 25834 0 0
U S WEST INC COM 912889102 927 26026 SH DEFINED 02 9074 9766 7186
U S WEST INC COM 912889102 27 772 SH DEFINED 03 772 0 0
UNITED TECHNOLOGIES CORP COM 913017109 24149 384094 SH DEFINED 02 268607 54695 60792
UNIVERSAL CORP VA COM 913456109 498 25090 SH DEFINED 02 0 23490 1600
V F CORP COM 918204108 11263 231635 SH DEFINED 02 120800 13560 97275
VLSI TECHNOLOGY INC SUB 918270AA7 111 130000 PRN DEFINED 02 130000 0 0
VANCE SANDERS EXCH FD COM 921902102 1263 4869 SH DEFINED 02 0 4869 0
VANGUARD / WINDSOR FD INC COM 922018106 170 13563 SH DEFINED 02 2895 10668 0
VIACOM INC COM 925524308 637 15653 SH DEFINED 02 303 15350 0
WMX TECHNOLOGIES INC COM 92929Q107 1476 56507 SH DEFINED 02 20500 14007 22000
WMX TECHNOLOGIES INC COM 92929Q107 5 200 SH DEFINED 03 200 0 0
WABAN INC SUB 929394AA2 182 200000 PRN DEFINED 02 140000 0 60000
WACHOVIA CORP NEW COM 929771103 3369 104490 SH DEFINED 02 29625 48132 26733
W&L SALES CO INC COM 929990406 3298 566226 SH DEFINED 02 566226 0 0
WAL MART STORES INC COM 931142103 3743 176154 SH DEFINED 02 26654 116000 33500
WAL MART STORES INC COM 931142103 136 6400 SH DEFINED 03 5000 0 1400
WARBURG PINCUS INTL EQUITY FD COM 933910101 891 48486 SH DEFINED 02 44350 4135 0
WARNACO GROUP INC COM 934390105 465 27000 SH DEFINED 02 0 0 27000
WARNER LAMBERT CO COM 934488107 23708 307902 SH DEFINED 02 110765 116076 81061
WARNER LAMBERT CO COM 934488107 15 200 SH DEFINED 03 200 0 0
WASHINGTON GAS LT CO COM 938837101 255 7638 SH DEFINED 02 2490 3995 1153
WASHINGTON GAS LT CO COM 938837101 144 4300 SH DEFINED 03 4200 0 100
WASHINGTON GAS LT CO COM 938837101 12 346 SH DEFINED 01 346 0 0
WASHINGTON POST CO COM 939640108 15326 63204 SH DEFINED 02 24440 2625 36139
WEINGARTEN RLTY INVS COM 948741103 234 6200 SH DEFINED 02 2500 3500 200
WEISS PECK & GREER FDS TR COM 949024509 455 83758 SH DEFINED 02 0 0 83758
WESTINGHOUSE ELEC CORP COM 960402105 216 17635 SH DEFINED 02 8488 6096 3051
WESTINGHOUSE ELEC CORP COM 960402105 5 400 SH DEFINED 03 400 0 0
WESTLAND GARDENS CO COM 960990208 224 75 SH DEFINED 02 0 0 75
WESTVACO CORP COM 961548104 13688 348744 SH DEFINED 02 228577 65766 54401
WEYERHAEUSER CO COM 962166104 471 12579 SH DEFINED 02 3064 7400 2115
WHIRLPOOL CORP COM 963320106 3409 67850 SH DEFINED 02 8500 40400 18950
WHIRLPOOL CORP COM 963320106 21 411 SH DEFINED 03 411 0 0
WHITMAN CORP COM 96647K102 190 11056 SH DEFINED 02 0 2000 9056
WHITTAKER CORPORATION NEW COM 966680407 607 30000 SH DEFINED 02 0 30000 0
WHOLE FOODS MKT INC COM 966837106 193 18914 SH DEFINED 02 0 3500 15414
WILLCOX & GIBBS INC SUB 969207AC3 84 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 7348 283995 SH DEFINED 02 118291 48494 117210
WISCONSIN ENERGY CORP COM 976657106 78 3000 SH DEFINED 03 3000 0 0
WITCO CORP COM 977385103 20962 850208 SH DEFINED 02 413205 168935 268068
<PAGE> PAGE 16
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
WOLVERINE TUBE INC COM 978093102 368 15508 SH DEFINED 02 200 0 15308
WORTHINGTON INDS INC COM 981811102 801 40050 SH DEFINED 02 16425 17625 6000
WRIGLEY WM JR CO COM 982526105 438 8880 SH DEFINED 02 1860 3120 3900
XEROX CORP COM 984121103 776 7841 SH DEFINED 02 2101 4060 1680
YORK INTL CORP NEW COM 986670107 328 8908 SH DEFINED 02 75 200 8633
REPORT SUMMARY 705 DATA RECORDS 3336322 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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