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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: 03/31/95
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 05/03/95
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
ALC COMMUNICATIONS CORP COM 001575307 610 17900 SH DEFINED 02 0 0 17900
AT&T CORP COM 001957109 17884 345586 SH DEFINED 02 137542 103741 104303
AT&T CORP COM 001957109 271 5242 SH DEFINED 03 5042 0 200
ABBOTT LABS COM 002824100 7979 223192 SH DEFINED 02 35988 88274 98930
ABBOTT LABS COM 002824100 253 7100 SH DEFINED 03 6450 0 650
ADVANCED TECHNOLOGY LABS INC COM 00755N106 214 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 1353 23752 SH DEFINED 02 9504 8755 5493
AHMANSON H F & CO COM 008677106 4078 226600 SH DEFINED 02 217200 0 9400
AIR PRODS & CHEMS INC COM 009158106 13592 260762 SH DEFINED 02 136588 94387 29787
AIR PRODS & CHEMS INC COM 009158106 56 1075 SH DEFINED 03 1075 0 0
AIRTOUCH COMMUNICATIONS INC COM 00949T100 9880 362585 SH DEFINED 02 191557 97197 73831
AIRTOUCH COMMUNICATIONS INC COM 00949T100 21 756 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 295 9150 SH DEFINED 02 0 6400 2750
ALCAN ALUM LTD NEW COM 013716105 324 12185 SH DEFINED 02 4165 850 7170
ALCO STD CORP COM 013788104 2554 35239 SH DEFINED 02 200 1750 33289
ALCO STD CORP CPF 013788500 329 4008 PRN DEFINED 02 50 350 3608
ALEX BROWN INC COM 013902101 626 16064 SH DEFINED 02 0 15507 557
ALEXANDER & ALEXANDER SVCS INC SUB 014476AA3 4 4000 PRN DEFINED 02 4000 0 0
ALLEGHENY PWR SYS INC COM 017411109 443 19581 SH DEFINED 02 4675 9106 5800
ALLERGAN INC COM 018490102 306 10384 SH DEFINED 02 3584 5200 1600
ALLIANCE FD COM 01859K105 95 15695 SH DEFINED 02 0 2454 13241
ALLIED SIGNAL INC COM 019512102 614 15654 SH DEFINED 02 5510 9668 476
ALLIED SIGNAL INC COM 019512102 157 4000 SH DEFINED 03 4000 0 0
ALLMERICA PPTY & CAS COS INC COM 01975T105 206 10800 SH DEFINED 02 0 10800 0
ALLSTATE CORP COM 020002101 746 25950 SH DEFINED 02 6300 14700 4950
ALLTRISTA CORP COM 020040101 463 19210 SH DEFINED 02 0 19100 110
ALUMINUM CO AMER COM 022249106 5372 129450 SH DEFINED 02 83900 34860 10690
AMERADA HESS CORP COM 023551104 682 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 3428 87363 SH DEFINED 02 30282 31340 25741
AMERICAN ELEC PWR INC COM 025537101 501 15781 SH DEFINED 02 4861 6292 4628
AMERICAN EXPRESS CO COM 025816109 545 15652 SH DEFINED 02 4396 2304 8952
AMERICAN EXPRESS CO COM 025816109 1514 43421 SH DEFINED 02 24258 18663 500
AMERICAN GENERAL CORP COM 026351106 9572 296823 SH DEFINED 02 82609 150109 64105
AMERICAN GREETINGS CORP COM 026375105 651 21800 SH DEFINED 02 1500 0 20300
AMERICAN HOME PRODS CORP COM 026609107 71128 998299 SH DEFINED 02 477491 267992 252816
AMERICAN HOME PRODS CORP COM 026609107 245 3450 SH DEFINED 03 3350 0 100
AMERICAN INTL GROUP INC COM 026874107 9075 87155 SH DEFINED 02 34978 21214 30963
AMERITECH CORP NEW COM 030954101 26759 648713 SH DEFINED 02 314704 162968 171041
AMERITECH CORP NEW COM 030954101 53 1276 SH DEFINED 03 1156 0 120
AMGEN INC COM 031162100 1224 18175 SH DEFINED 02 13950 2400 1825
AMOCO CDA PETE CO SUB 031678AC9 135 112000 PRN DEFINED 02 108000 1000 3000
AMP INC COM 031897101 28229 784163 SH DEFINED 02 387092 222105 174966
AMP INC COM 031897101 67 1850 SH DEFINED 03 1550 0 300
AMOCO CORP COM 031905102 51348 807044 SH DEFINED 02 425089 202472 179483
AMOCO CORP COM 031905102 142 2244 SH DEFINED 03 894 0 1350
<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
AMSOUTH BANCORPORATION COM 032165102 664 21105 SH DEFINED 02 0 0 21105
ANADARKO PETE CORP COM 032511107 546 12484 SH DEFINED 02 724 1344 10416
ANHEUSER BUSCH COS INC COM 035229103 477 8122 SH DEFINED 02 350 3968 3804
AON CORP COM 037389103 516 14142 SH DEFINED 02 504 5388 8250
AON CORP COM 037389103 49 1338 SH DEFINED 03 1038 0 300
APACHE CORP COM 037411105 1168 42867 SH DEFINED 02 11000 15467 16400
APPLE COMPUTER INC COM 037833100 21835 619459 SH DEFINED 02 409499 55200 154760
ARCHER DANIELS MIDLAND CO COM 039483102 712 38237 SH DEFINED 02 363 17252 20622
ARCHER DANIELS MIDLAND CO COM 039483102 10 519 SH DEFINED 03 519 0 0
GUINNESS PLC ORD GBP 0.25 COM 039600002 91 12000 SH DEFINED 02 0 12000 0
ASEA AB COM 043655307 5077 65620 SH DEFINED 02 26571 23725 15324
ATLANTA GAS LT CO COM 047753108 608 17524 SH DEFINED 02 8177 6364 2983
ATLANTIC RICHFIELD CO COM 048825103 42290 367741 SH DEFINED 02 211133 82767 73841
ATLANTIC RICHFIELD CO COM 048825103 9 80 SH DEFINED 03 80 0 0
AURA SYS INC COM 051526101 50 16000 SH DEFINED 02 0 0 16000
AUTODESK INC COM 052769106 6078 144300 SH DEFINED 02 104350 19250 20700
AVERY DENNISON CORP COM 053611109 512 12848 SH DEFINED 02 4200 5248 3400
AVNET INC SUB 053807AB9 724 700000 PRN DEFINED 02 565000 30000 105000
AVNET INC COM 053807103 707 17532 SH DEFINED 02 10400 5100 2032
AUTOMOTIVE CASUALTY ASSURANCE COM 053990503 20 70455 SH DEFINED 02 70455 0 0
BABSON-STEWART IVORY INTL FD COM 056175102 861 55442 SH DEFINED 02 55442 0 0
BAKER HUGHES INC COM 057224107 977 47971 SH DEFINED 02 38875 2876 6220
BALTIMORE CEMETERY COMPANY COM 058991100 1755 58500 SH DEFINED 02 58500 0 0
BALTIMORE GAS & ELEC CO COM 059165100 18958 802465 SH DEFINED 02 247744 249417 305304
BALTIMORE GAS & ELEC CO COM 059165100 35 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 305 10733 SH DEFINED 02 381 5332 5020
BANTA CORP COM 066821109 262 7950 SH DEFINED 02 0 200 7750
BARD C R INC COM 067383109 525 19005 SH DEFINED 02 16805 2200 0
BARNES & NOBLE INC COM 067774109 771 25400 SH DEFINED 02 0 0 25400
BARNETT BKS INC COM 068055102 4496 98823 SH DEFINED 02 68598 12250 17975
BARNETT BKS INC COM 068055102 66 1446 SH DEFINED 03 1446 0 0
BARNETT BKS INC CPF 068055300 1884 21600 PRN DEFINED 02 15200 1475 4925
BAXTER INTL INC COM 071813109 1303 39797 SH DEFINED 02 10779 16670 12348
BAY NETWORKS INC COM 072510100 321 8732 SH DEFINED 02 2000 6732 0
BEARINGS INC NEW COM 074005208 1326 43662 SH DEFINED 02 36550 1825 5287
BECKMAN INSTRS INC COM 075816108 628 21210 SH DEFINED 02 11371 1812 8027
BECTON DICKINSON & CO COM 075887109 878 16200 SH DEFINED 02 1200 13400 1600
BELL ATLANTIC CORP COM 077853109 43065 814469 SH DEFINED 02 433164 188090 193215
BELL ATLANTIC CORP COM 077853109 150 2838 SH DEFINED 03 2838 0 0
BELLSOUTH CORP COM 079860102 37788 635109 SH DEFINED 02 352209 112758 170142
BELLSOUTH CORP COM 079860102 190 3186 SH DEFINED 03 3036 0 150
BEMIS INC COM 081437105 276 9400 SH DEFINED 02 0 0 9400
BENEFICIAL CORP COM 081721102 1029 26228 SH DEFINED 02 12770 4658 8800
BETZ LABS INC COM 087779104 3255 74414 SH DEFINED 02 53314 5300 15800
BIOWHITTAKER INC COM 09066T108 117 14700 SH DEFINED 02 0 14700 0
BLACK & DECKER CORP COM 091797100 988 34236 SH DEFINED 02 16816 8941 8479
BLOCK H & R INC COM 093671105 462 10700 SH DEFINED 02 900 0 9800
BOEING CO COM 097023105 8733 162486 SH DEFINED 02 114976 29937 17573
BOISE CASCADE CORP SUB 097383AK9 68 70000 PRN DEFINED 02 50000 0 20000
<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
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 691 27226 SH DEFINED 02 0 27226 0
BRISTOL MYERS SQUIBB CO COM 110122108 79901 1270798 SH DEFINED 02 536961 196551 537286
BRISTOL MYERS SQUIBB CO COM 110122108 116 1850 SH DEFINED 03 1850 0 0
BRITISH PETE LTD COM 110889409 14469 172771 SH DEFINED 02 137014 10361 25396
BROOKLYN UN GAS CO COM 114259104 7961 330011 SH DEFINED 02 234025 47601 48385
BROWN & SHARPE MFG CO SUB 115223AA7 4 5000 PRN DEFINED 02 5000 0 0
BROWNING FERRIS INDS INC COM 115885105 34 1000 SH DEFINED 03 1000 0 0
BROWNING FERRIS INDS INC SUB 115885AF2 75 75000 PRN DEFINED 02 0 0 75000
BUILDERS TRANS INC SUB 120084AA6 240 270000 PRN DEFINED 02 190000 0 80000
BURLINGTON NORTHERN INC COM 121897102 666 11256 SH DEFINED 02 5400 3230 2626
BURLINGTON NORTHERN INC COM 121897102 12 200 SH DEFINED 03 200 0 0
BURLINGTON RES INC COM 122014103 527 12934 SH DEFINED 02 1000 10129 1805
BURLINGTON RES INC COM 122014103 49 1200 SH DEFINED 03 1200 0 0
BURMAH CASTROL PLC COM 122169303 220 7871 SH DEFINED 02 0 5892 1979
CBS INC COM 124845108 285 4460 SH DEFINED 02 2800 765 895
CIGNA CORP SUB 125509AB5 49 45000 PRN DEFINED 02 0 0 45000
CIGNA CORP COM 125509109 1152 15422 SH DEFINED 02 8398 764 6260
CPC INTL INC COM 126149103 10619 196202 SH DEFINED 02 81762 78034 36406
CSX CORP COM 126408103 2801 35577 SH DEFINED 02 10826 15509 9242
CSX CORP COM 126408103 32 400 SH DEFINED 03 400 0 0
CUC INTL INC COM 126545102 633 16300 SH DEFINED 02 0 0 16300
CAMBRIDGE NEUROSCIENCE INC COM 132426107 50 10000 SH DEFINED 02 0 0 10000
CAMCO INTL INC COM 132632100 585 28400 SH DEFINED 02 0 0 28400
CAMPBELL SOUP CO COM 134429109 226 4692 SH DEFINED 02 2792 700 1200
CAPITAL CITIES ABC INC COM 139859102 1017 11500 SH DEFINED 02 0 3500 8000
CAPITAL EXCHANGE FD INC COM 140105107 289 1484 SH DEFINED 02 0 1484 0
CAPITAL ONE FINL CORP COM 14040H105 1719 89885 SH DEFINED 02 39354 32710 17821
CAPITAL ONE FINL CORP COM 14040H105 38 2000 SH DEFINED 03 2000 0 0
CARNIVAL CORP CL A COM 143658102 275 11800 SH DEFINED 02 0 0 11800
CAROLINA PWR & LT CO COM 144141108 461 17000 SH DEFINED 02 2900 8030 6070
CAROLINA PWR & LT CO COM 144141108 11 400 SH DEFINED 03 400 0 0
CATERPILLAR INC COM 149123101 21564 388544 SH DEFINED 02 263726 18802 106016
CEDAAR FAIR L P COM 150185106 220 7000 SH DEFINED 02 0 2000 5000
CENTRAL & SOUTH WEST CORP COM 152357109 545 22489 SH DEFINED 02 6559 10240 5690
CENTRAL & SOUTH WEST CORP COM 152357109 176 7256 SH DEFINED 03 7256 0 0
CENTURY TEL ENTERPRISES INC COM 156686107 780 25700 SH DEFINED 02 0 0 25700
CHEVRON CORP COM 166751107 37355 778244 SH DEFINED 02 436155 131526 210563
CHEVRON CORP COM 166751107 56 1168 SH DEFINED 03 1168 0 0
CHIRON CORP COM 170040109 365 6793 SH DEFINED 02 0 6700 93
CHRYSLER CORP COM 171196108 366 8768 SH DEFINED 02 4390 900 3478
CHUBB CORP COM 171232101 36395 460697 SH DEFINED 02 264129 55323 141245
CISCO SYS INC COM 17275R102 539 14160 SH DEFINED 02 7000 0 7160
CITICORP COM 173034109 678 15908 SH DEFINED 02 4592 6276 5040
CITICORP COM 173034109 17 400 SH DEFINED 03 400 0 0
COCA COLA CO COM 191216100 55877 991181 SH DEFINED 02 429453 304608 257120
COCA COLA CO COM 191216100 77 1360 SH DEFINED 03 1360 0 0
COLGATE PALMOLIVE CO COM 194162103 5112 77456 SH DEFINED 02 29794 27100 20562
COLGATE PALMOLIVE CO COM 194162103 69 1050 SH DEFINED 03 900 0 150
<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
COLLEGE MANOR INC COM 194990305 517 326 SH DEFINED 02 0 326 0
COLUMBIA / HCA HEALTHCARE COM 197677107 1187 27547 SH DEFINED 02 10535 17012 0
COMERICA INC COM 200340107 653 23750 SH DEFINED 02 8600 0 15150
COMPUTER DATA SYS COM 205017106 197 20000 SH DEFINED 02 0 0 20000
CONCORD EFS INC COM 206189102 495 18000 SH DEFINED 02 0 14550 3450
CONRAIL INC COM 208368100 1683 30000 SH DEFINED 02 1800 26700 1500
CONSECO INC COM 208464107 264 6628 SH DEFINED 02 3200 0 3428
CONSOLIDATED EDISON CO N Y INC COM 209111103 238 8757 SH DEFINED 02 4476 1621 2660
CONSOLIDATED EDISON CO N Y INC COM 209111103 12 440 SH DEFINED 03 440 0 0
CONSOLIDATED NAT GAS CO SUB 209615BL6 131 130000 PRN DEFINED 02 50000 50000 30000
CONSOLIDATED NAT GAS CO COM 209615103 3975 102930 SH DEFINED 02 37142 38928 26860
CONSOLIDATED NAT GAS CO COM 209615103 47 1220 SH DEFINED 03 870 0 350
COOPER INDS INC SUB 216669AC5 7525 7414050 PRN DEFINED 02 5553000 1162000 699050
COOPER INDS INC COM 216669101 9535 246065 SH DEFINED 02 161609 40637 43819
COOPER TIRE & RUBR CO COM 216831107 684 24000 SH DEFINED 02 0 0 24000
COORS ADOLPH CO COM 217016104 361 22100 SH DEFINED 02 800 16000 5300
CORESTATES FINL CORP COM 218695104 55762 1742574 SH DEFINED 02 964566 379393 398615
CORNING INC COM 219350105 920 25566 SH DEFINED 02 9404 3304 12858
COSTCO WHSL CORP SUB 221607AB0 86 100000 PRN DEFINED 02 100000 0 0
COX COMMUNICATIONS INC NEW COM 224044107 1492 89106 SH DEFINED 02 37898 28267 22941
CUSTER CHANNEL WING CORP COM 231705203 0 16000 SH DEFINED 02 16000 0 0
DPL INC COM 233293109 6946 332780 SH DEFINED 02 269725 18305 44750
DSC COMMUNICATIONS COM 233311109 406 12480 SH DEFINED 02 1750 7800 2930
DANA CORP COM 235811106 7154 280587 SH DEFINED 02 121234 20160 139193
DANKA BUSINESS SYS PLC COM 236277109 952 36300 SH DEFINED 02 0 0 36300
DEAN WITTER DISCOVER & CO COM 24240V101 302 7425 SH DEFINED 02 3008 390 4027
DEERE & CO COM 244199105 17534 215815 SH DEFINED 02 117875 23224 74716
DELMARVA PWR & LT CO COM 247109101 750 37987 SH DEFINED 02 3539 14489 19959
DELMARVA PWR & LT CO COM 247109101 3 150 SH DEFINED 03 150 0 0
DELTA AIR LINES INC DEL COM 247361108 6813 108575 SH DEFINED 02 86950 5330 16295
DELTA AIR LINES INC DEL CPF 247361306 10705 201035 PRN DEFINED 02 132255 25467 43313
DELTA WOODSIDE INDS INC NEW COM 247909104 2579 308037 SH DEFINED 02 225250 5400 77387
DEXTER CORP COM 252165105 7455 340833 SH DEFINED 02 183400 17983 139450
DIGI INTL INC COM 253798102 299 13600 SH DEFINED 02 0 9300 4300
DIGITAL EQUIP CORP COM 253849103 13584 358654 SH DEFINED 02 271282 46477 40895
DILLARD DEPT STORES INC COM 254063100 279 10100 SH DEFINED 02 900 1000 8200
DISNEY WALT CO COM 254687106 2229 41664 SH DEFINED 02 4168 16120 21376
DISNEY WALT CO COM 254687106 106 1976 SH DEFINED 03 1976 0 0
DOMINION RES INC VA COM 257470104 748 20795 SH DEFINED 02 5166 8157 7472
DOMINION RES INC VA COM 257470104 293 8142 SH DEFINED 03 7942 0 200
DONALDSON INC COM 257651109 701 28042 SH DEFINED 02 1124 10600 16318
DONNELLEY R R & SONS CO COM 257867101 3387 98534 SH DEFINED 02 30250 45784 22500
DOVER CORP COM 260003108 9615 148500 SH DEFINED 02 64617 36050 47833
DOW CHEM CO COM 260543103 35148 479840 SH DEFINED 02 255277 145585 78978
DRESSER INDS INC COM 261597108 19709 927523 SH DEFINED 02 486723 239423 201377
DU PONT E I DE NEMOURS & CO COM 263534109 56408 932365 SH DEFINED 02 431464 277946 222955
DU PONT E I DE NEMOURS & CO COM 263534109 114 1890 SH DEFINED 03 1890 0 0
DUKE PWR CO COM 264399106 6592 172341 SH DEFINED 02 91717 30967 49657
DUKE PWR CO COM 264399106 38 1000 SH DEFINED 03 1000 0 0
DUN & BRADSTREET CORP COM 264830100 66692 1267325 SH DEFINED 02 995831 143390 128104
<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
DUN & BRADSTREET CORP COM 264830100 21 400 SH DEFINED 03 400 0 0
DUNDEE MLS INC COM 265219105 1241 680 SH DEFINED 02 680 0 0
DURACRAFT CORP COM 266332105 247 7125 SH DEFINED 02 0 5300 1825
EASTMAN CHEM CO COM 277432100 794 14286 SH DEFINED 02 5616 6429 2241
EASTMAN KODAK CO COM 277461109 10805 202915 SH DEFINED 02 80197 69696 53022
EASTMAN KODAK CO COM 277461109 16 301 SH DEFINED 03 301 0 0
ECCLESTON LAND COMPANY COMMON COM 277994109 219 2972 SH DEFINED 02 2162 0 810
EATON CORP COM 278058102 2369 43684 SH DEFINED 02 12002 13984 17698
EATON CORP COM 278058102 42 766 SH DEFINED 03 766 0 0
ECHLIN INC COM 278749106 311 8100 SH DEFINED 02 1700 0 6400
ECOLAB INC COM 278865100 373 15400 SH DEFINED 02 100 300 15000
EMERSON ELEC CO COM 291011104 27259 409923 SH DEFINED 02 233513 72620 103790
EMERSON ELEC CO COM 291011104 98 1475 SH DEFINED 03 1225 0 250
ENRON CORP COM 293561106 8071 244599 SH DEFINED 02 67910 46284 130405
EQUITABLE GAS CO SUB 294497AJ1 170 75000 PRN DEFINED 02 0 0 75000
EQUITABLE RES INC COM 294549100 28405 1019048 SH DEFINED 02 698756 135720 184572
EQUITABLE RES INC COM 294549100 11 400 SH DEFINED 03 400 0 0
EQUITEC FINL GROUP INC SUB 294588AC2 1 50000 PRN DEFINED 02 0 0 50000
ERICSSON L M TEL CO COM 294821400 4703 76100 SH DEFINED 02 13850 42500 19750
EURO PAC GROWTH FD COM 298706102 1200 57467 SH DEFINED 02 57467 0 0
EXXON CORP COM 302290101 126879 1904388 SH DEFINED 02 852206 632685 419497
EXXON CORP COM 302290101 423 6355 SH DEFINED 03 6235 0 125
F&M BANCORP COM 302367107 1897 65999 SH DEFINED 02 2172 45449 18378
FPL GROUP INC COM 302571104 326 8987 SH DEFINED 02 5150 937 2900
FCNB CORP COM 302920103 731 25225 SH DEFINED 02 7858 9106 8261
FASTENAL CO COM 311900104 948 38530 SH DEFINED 02 0 29600 8930
FEDERAL HOME LN MTG CORP COM 313400301 907 15006 SH DEFINED 02 1800 4206 9000
FIDELITY ADVISOR SER I COM 315805101 607 19861 SH DEFINED 02 0 19861 0
FIDELITY VALUE FD COM 316464106 250 5854 SH DEFINED 02 5854 0 0
FIRST AMER BK CORP COM 318906104 304 9062 SH DEFINED 02 9062 0 0
FIRST BK SYS INC COM 319279105 541 13400 SH DEFINED 02 0 13400 0
FIRST CHICAGO CORP COM 319455101 220 4406 SH DEFINED 02 0 4406 0
FIRST COLONY CORP COM 319741104 6251 276317 SH DEFINED 02 244767 6367 25183
FIRST COLONY CORP COM 319741104 3 133 SH DEFINED 03 133 0 0
FIRST COMM CORP COM 319779104 215 8618 SH DEFINED 02 0 0 8618
FIRST FID BANCORPORATION NEW COM 320195100 321 6501 SH DEFINED 02 3681 400 2420
FIRST FID BANCORPORATION NEW COM 320195100 26 520 SH DEFINED 03 520 0 0
FIRST FINL MGMT CORP COM 320245103 393 5451 SH DEFINED 02 0 0 5451
FIRST USA INC COM 33743H105 438 10450 SH DEFINED 02 0 0 10450
FIRST VA BKS INC COM 337477103 260 7498 SH DEFINED 02 0 1398 6100
FIRST VA BKS INC COM 337477103 48 1375 SH DEFINED 03 1375 0 0
FIRSTAR CORP NEW COM 33761C103 318 10796 SH DEFINED 02 0 0 10796
FISERV INC COM 337738108 1081 40800 SH DEFINED 02 0 8500 32300
FISHER SCIENTIFIC INTL INC SUB 338032AA3 313 310000 PRN DEFINED 02 0 25000 285000
FISHER SCIENTIFIC INTL INC COM 338032105 225 7590 SH DEFINED 02 0 700 6890
FLAG INVS VALUE BLDR FD INC COM 33832R105 181 15087 SH DEFINED 02 0 0 15087
FLAG INVS TEL INCOME FD INC COM 338331101 594 46450 SH DEFINED 02 7246 39204 0
FLEETWOOD ENTERPRISES INC COM 339099103 4422 187200 SH DEFINED 02 55100 88400 43700
FLEMING COS INC COM 339130106 11558 510880 SH DEFINED 02 334095 11820 164965
FLIGHTSAFETY INTL INC COM 339423105 466 10191 SH DEFINED 02 541 300 9350
<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 EAST COAST INDS INC COM 340632108 2950 40000 SH DEFINED 02 0 0 40000
FLORIDA PROGRESS CORP COM 341109106 302 10029 SH DEFINED 02 200 9829 0
FORD MTR CO DEL COM 345370100 394 14688 SH DEFINED 02 1315 3640 9733
FORD MTR CO DEL COM 345370100 48 1792 SH DEFINED 03 1792 0 0
FREEPORT MCMORAN INC COM 356714105 495 27352 SH DEFINED 02 1452 7760 18140
FREEPORT MCMORAN RESOURCE COM 356903104 150 10116 SH DEFINED 02 200 4816 5100
FRITZ COS INC COM 358846103 428 6675 SH DEFINED 02 0 5200 1475
GTE CORP COM 362320103 18276 549673 SH DEFINED 02 239750 190964 118959
GTE CORP COM 362320103 457 13759 SH DEFINED 03 13009 0 750
GANNETT INC COM 364730101 9758 182834 SH DEFINED 02 99911 55009 27914
GARDNER DENVER MACHY INC COM 365558105 434 38647 SH DEFINED 02 1734 36300 613
GENERAL DYNAMICS CORP COM 369550108 235 5000 SH DEFINED 02 0 5000 0
GENERAL ELEC CO COM 369604103 140783 2607106 SH DEFINED 02 1161129 926864 519113
GENERAL ELEC CO COM 369604103 718 13304 SH DEFINED 03 12904 0 400
GENERAL INSTR CORP NEW SUB 370121AA3 97 65000 PRN DEFINED 02 0 10000 55000
GENERAL MILLS INC COM 370334104 1148 19260 SH DEFINED 02 13160 3900 2200
GENERAL MOTORS CORP COM 370442105 10604 241011 SH DEFINED 02 105645 39556 95810
GENERAL MOTORS CORP COM 370442105 27 624 SH DEFINED 03 624 0 0
GENERAL MTRS CORP COM 370442402 670 17251 SH DEFINED 02 6536 4229 6486
GENERAL MTRS CORP COM 370442402 11 280 SH DEFINED 03 80 0 200
GENERAL RE CORP COM 370563108 38434 291173 SH DEFINED 02 179891 51316 59966
GENERAL RE CORP COM 370563108 66 500 SH DEFINED 03 500 0 0
GENUINE PARTS CO COM 372460105 11699 293397 SH DEFINED 02 178366 72612 42419
GENUINE PARTS CO COM 372460105 141 3550 SH DEFINED 03 3150 0 400
GENZYME CORP SUB 372917AA2 19 20000 PRN DEFINED 02 0 20000 0
GENZYME CORP COM 372917104 390 10085 SH DEFINED 02 6400 1500 2185
GEORGIA PAC CORP COM 373298108 540 6783 SH DEFINED 02 1596 3177 2010
GIANT FOOD INC COM 374478105 15509 649613 SH DEFINED 02 402135 154838 92640
GIANT FOOD INC COM 374478105 10 400 SH DEFINED 03 400 0 0
GIDDINGS & LEWIS INC WIS COM 375048105 11575 680932 SH DEFINED 02 512490 12412 156030
GILLETTE CO COM 375766102 4938 60498 SH DEFINED 02 3041 12869 44588
GILLETTE CO COM 375766102 65 800 SH DEFINED 03 800 0 0
GLATFELTER P H CO COM 377316104 25175 1408440 SH DEFINED 02 947150 142316 318974
GRACE W R & CO COM 383883105 430 8090 SH DEFINED 02 198 660 7232
GRAINGER W W INC COM 384802104 5507 87074 SH DEFINED 02 25770 15730 45574
GRAINGER W W INC COM 384802104 16 250 SH DEFINED 03 250 0 0
GREAT LAKES CHEM CORP COM 390568103 236 3795 SH DEFINED 02 800 1700 1295
GREENERY REHABILITATION GROUP SUB 394797AB0 238 270000 PRN DEFINED 02 150000 0 120000
HALLIBURTON CO COM 406216101 10558 290255 SH DEFINED 02 150072 14567 125616
HANSON PLC COM 411352305 2404 128224 SH DEFINED 02 100889 8915 18420
HARCOURT GEN INC COM 41163G101 1056 27100 SH DEFINED 02 900 0 26200
HARSCO CORP COM 415864107 4219 95900 SH DEFINED 02 64665 16925 14310
CETUS CORP SUB 418589II0 299 355000 PRN DEFINED 02 306000 0 49000
HAUSER CHEM RESH INC NEW COM 419141304 83 16675 SH DEFINED 02 0 12000 4675
CHUBB CAPITAL CORP SUB 419447II0 405 390000 PRN DEFINED 02 120000 10000 260000
HEALTH CARE PPTY INVS INC COM 421915109 257 8700 SH DEFINED 02 0 6100 2600
HEINZ H J CO COM 423074103 1137 29552 SH DEFINED 02 4404 14748 10400
DART & KRAFT FIN N V GTD DEB SUB 425676II6 92 40000 PRN DEFINED 02 40000 0 0
HERCULES INC SUB 427056AK2 78 25000 PRN DEFINED 02 0 10000 15000
HERCULES INC COM 427056106 1267 27181 SH DEFINED 02 5800 11100 10281
<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
HERITAGE MEDIA CORP NEW COM 427241203 494 19200 SH DEFINED 02 0 0 19200
HERSHEY FOODS CORP COM 427866108 8199 160379 SH DEFINED 02 89983 30715 39681
HEWLETT PACKARD CO COM 428236103 46277 384446 SH DEFINED 02 223396 61300 99750
HEWLETT PACKARD CO COM 428236103 36 300 SH DEFINED 03 100 0 200
ESTERLINE INTL FIN N V GTD SUB 432043II0 425 430000 PRN DEFINED 02 395000 0 35000
HILTON HOTELS CORP COM 432848109 285 3840 SH DEFINED 02 640 300 2900
HOME DEPOT INC COM 437076102 1699 38406 SH DEFINED 02 2249 20266 15891
HOMELAND BANKSHARES CORP COM 43739F104 331 14144 SH DEFINED 02 14144 0 0
HOMESTAKE MNG CO COM 437614100 3358 181537 SH DEFINED 02 40200 11962 129375
HONEYWELL INC COM 438506107 2410 64496 SH DEFINED 02 26806 30952 6738
HOSPITALITYFRAN COM 440912103 828 25900 SH DEFINED 02 0 0 25900
HOUGHTON MIFFLIN CO COM 441560109 421 9058 SH DEFINED 02 0 500 8558
HOUSEHOLD INTL CORP COM 441815107 393 9039 SH DEFINED 02 0 6639 2400
HOUSTON INDS INC COM 442161105 320 8398 SH DEFINED 02 1912 4586 1900
HOUSTON INDS INC COM 442161105 38 1000 SH DEFINED 03 1000 0 0
HUBBELL INC COM 443510201 3947 73434 SH DEFINED 02 16123 14945 42366
HUMANA INC COM 444859102 510 19910 SH DEFINED 02 2910 17000 0
ITT CORP COM 450679105 4479 43652 SH DEFINED 02 11182 17406 15064
ITT CORP COM 450679105 98 956 SH DEFINED 03 956 0 0
LECHTERS INC CONV SUB DEB SUB 450837II2 34 45000 PRN DEFINED 02 45000 0 0
ILLINOIS TOOL WORKS INC COM 452308109 5191 106210 SH DEFINED 02 81420 13600 11190
IMPERIAL CHEM INDS PLC COM 452704505 19258 409761 SH DEFINED 02 256350 40094 113317
INDRESCO INC COM 455905109 152 11987 SH DEFINED 02 1062 8150 2775
INGERSOLL RAND CO COM 456866102 11189 340376 SH DEFINED 02 95184 110750 134442
INFORMATION MGMT TECHNS CORP SUB 456990AA8 95 100000 PRN DEFINED 02 0 100000 0
INSURANCE AUTO AUCTIONS INC COM 457875102 265 7700 SH DEFINED 02 0 6500 1200
INTEL CORP COM 458140100 27263 321224 SH DEFINED 02 208858 45467 66899
INTERNATIONAL BUSINESS MACHS COM 459200101 48031 584859 SH DEFINED 02 239792 161661 183406
INTERNATIONAL BUSINESS MACHS COM 459200101 35 430 SH DEFINED 03 430 0 0
INTERNATIONAL FAMILY ENTMT INC COM 45950M106 227 14800 SH DEFINED 02 0 0 14800
INTERNATIONAL FLAVORS & COM 459506101 354 6876 SH DEFINED 02 126 750 6000
INTERNATIONAL PAPER CO COM 460146103 825 11005 SH DEFINED 02 4440 4365 2200
INTUIT COM 461202103 452 5798 SH DEFINED 02 0 0 5798
INVESTMENT CO AMER COM 461308108 197 10545 SH DEFINED 02 10545 0 0
JACOBSON STORES INC SUB 469834AC9 29 40000 PRN DEFINED 02 0 0 40000
JAMES RIV CORP VA COM 470349101 1364 52468 SH DEFINED 02 15018 10900 26550
ESCROW JAMESWAY CORP SUB 4707369B7 2 15000 PRN DEFINED 02 0 15000 0
JEFFERSON PILOT CORP COM 475070108 4967 84011 SH DEFINED 02 39325 25011 19675
JOHNSON & JOHNSON COM 478160104 62580 1051772 SH DEFINED 02 521987 342893 186892
JOHNSON & JOHNSON COM 478160104 263 4420 SH DEFINED 03 4420 0 0
JOHNSON CTLS INC COM 478366107 2257 44371 SH DEFINED 02 13382 15784 15205
JONES APPAREL GROUP COM 480074103 637 23600 SH DEFINED 02 0 0 23600
K MART CORP COM 482584109 10005 727649 SH DEFINED 02 556958 73802 96889
K N ENERGY INC COM 482620101 7127 296963 SH DEFINED 02 213352 30804 52807
KAMAN CORP SUB 483548AC7 831 1124000 PRN DEFINED 02 845000 124000 155000
KAMAN CORP COM 483548103 2651 238350 SH DEFINED 02 133280 68900 36170
KAMAN CORP CPF 483548509 2416 53705 PRN DEFINED 02 41625 4670 7410
S KANN SONS CO COM STPD COM 483996104 4869 95477 SH DEFINED 02 5280 90077 120
KELLOGG CO COM 487836108 2393 41000 SH DEFINED 02 20300 17800 2900
TEXAS INSTRS INC SUB DEB CONV SUB 488542II4 830 720000 PRN DEFINED 02 25000 0 695000
<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
TRINOVA CORP SUB DEB CONV SUB 490433II2 44 50000 PRN DEFINED 02 50000 0 0
KERR MCGEE CORP COM 492386107 252 4946 SH DEFINED 02 600 4146 200
KERR MCGEE CORP COM 492386107 10 200 SH DEFINED 03 200 0 0
KEYCORP NEW COM 493267108 367 13025 SH DEFINED 02 0 8283 4742
KEYSTONE INTL INC COM 493503106 3460 160024 SH DEFINED 02 119241 23083 17700
KIMBERLY CLARK CORP COM 494368103 1261 24252 SH DEFINED 02 11100 7232 5920
KIMBERLY CLARK CORP COM 494368103 25 480 SH DEFINED 03 480 0 0
KOLLMORGEN CORP SUB 500440AA0 17 19000 PRN DEFINED 02 19000 0 0
KOPP GLASS INC COM 500990106 254 33950 SH DEFINED 02 33950 0 0
LCI INTL INC COM 501813109 636 25600 SH DEFINED 02 0 0 25600
KRUGERRAND WHOLE SUB 501990501 6 1744 PRN DEFINED 02 0 1419 325
LANDMARK GRAPHICS CORP COM 514913102 6093 324975 SH DEFINED 02 229800 37025 58150
LEGGETT & PLATT INC COM 524660107 504 12000 SH DEFINED 02 0 12000 0
LEGG MASON INC SUB 524901AA3 19 20000 PRN DEFINED 02 0 20000 0
LENNAR CORP COM 526057104 375 23100 SH DEFINED 02 0 0 23100
LEUCADIA NATL CORP COM 527288104 1458 31800 SH DEFINED 02 0 15000 16800
LILLY ELI & CO COM 532457108 2749 37594 SH DEFINED 02 16129 13867 7598
LINCOLN NATL CORP IND COM 534187109 13312 330744 SH DEFINED 02 184294 31600 114850
LOCKHEED MARTIN CORP COM 539830109 9590 181372 SH DEFINED 02 56557 31342 93473
LOEWS CORP COM 540424108 286 2900 SH DEFINED 02 100 800 2000
LOEWS CORP COM 540424108 278 2811 SH DEFINED 03 2811 0 0
LOTUS DEV CORP COM 545700106 1484 38800 SH DEFINED 02 21850 2000 14950
LOYOLA CAP CORP COM 549089100 1080 46222 SH DEFINED 02 20000 7300 18922
LUBRIZOL CORP COM 549271104 11114 315297 SH DEFINED 02 124790 124675 65832
M A COM SUB 552618AA8 175 175000 PRN DEFINED 02 0 70000 105000
MBIA INC COM 55262C100 240 3830 SH DEFINED 02 30 0 3800
MCI COMMUNICATIONS CORP COM 552673105 8369 405782 SH DEFINED 02 215150 74650 115982
MCI COMMUNICATIONS CORP COM 552673105 4 200 SH DEFINED 03 200 0 0
MGIC INVT CORP WISC COM 552848103 501 12300 SH DEFINED 02 0 0 12300
MSD&T FNDS INC VALUE EQUITY COM 553537507 12727 984321 SH DEFINED 02 145282 11671 827368
MSD&T FNDS INC MD TAX-EXEMPT B COM 553537705 4385 430752 SH DEFINED 02 28448 17696 384608
MSD&T FNDS INC INTL EQUITY COM 553537804 52290 4631539 SH DEFINED 02 2458127 979028 1194384
MACNEAL SCHWENDLER CORP SUB 554806AA7 17 20000 PRN DEFINED 02 0 20000 0
MANOR CARE INC COM 564054104 359 11841 SH DEFINED 02 100 2150 9591
MARK IV INDS INC COM 570387100 605 29518 SH DEFINED 02 0 29518 0
MARSH & MCLENNAN COS INC COM 571748102 23955 291697 SH DEFINED 02 185781 61617 44299
MARRIOTT INTL INC COM 571900109 1141 32850 SH DEFINED 02 0 6950 25900
MARTIN MARIETTA MATLS INC COM 573284106 476 24900 SH DEFINED 02 0 0 24900
MASCO CORP SUB 574599AG1 3803 4449000 PRN DEFINED 02 2172000 495000 1782000
MASCO CORP COM 574599106 287 10400 SH DEFINED 02 1000 1600 7800
MASCO CORP COM 574599106 14 500 SH DEFINED 03 500 0 0
MASKWA NICKEL CHROME MINES LTD COM 574990214 1 12000 SH DEFINED 02 0 0 12000
MASON-DIXON BANCSHARES INC COM 575207105 353 23562 SH DEFINED 02 12237 6327 4998
MASSACHUSETTS INVS TR COM 575736103 134 12290 SH DEFINED 02 0 1802 10488
MATTEL INC COM 577081102 541 22114 SH DEFINED 02 716 11727 9671
MAY DEPT STORES CO COM 577778103 52589 1421338 SH DEFINED 02 571761 534862 314715
MAY DEPT STORES CO COM 577778103 32 875 SH DEFINED 03 675 0 200
MAYTAG CORP COM 578592107 11131 650034 SH DEFINED 02 420300 34784 194950
MAYTAG CORP COM 578592107 2 100 SH DEFINED 03 100 0 0
MCCORMICK & CO INC COM 579780107 300 12992 SH DEFINED 02 12000 512 480
<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
MCCORMICK & CO INC COM 579780206 15856 700831 SH DEFINED 02 327096 235968 137767
MCDONALDS CORP COM 580135101 2162 63364 SH DEFINED 02 11801 19655 31908
MCDONALDS CORP COM 580135101 54 1590 SH DEFINED 03 1590 0 0
MCGRAW HILL INC COM 580645109 386 5380 SH DEFINED 02 960 4320 100
MCKESSON CORP NEW COM 581557105 445 11044 SH DEFINED 02 0 11044 0
MEAD CORP COM 582834107 263 4908 SH DEFINED 02 362 1946 2600
MEDICAL CTR INS CO LTD COM 584990105 15 125000 SH DEFINED 02 125000 0 0
MEDTRONIC INC COM 585055106 641 9250 SH DEFINED 02 600 800 7850
MEDUSA CORP SUB 585072AB7 49 50000 PRN DEFINED 02 0 10000 40000
MELVILLE CORP COM 585745102 284 7641 SH DEFINED 02 1349 1600 4692
MERCANTILE BANCORPORATION INC COM 587342106 443 12152 SH DEFINED 02 11478 674 0
MERCANTILE BANKSHARES CORP COM 587405101 50 2256 SH DEFINED 01 2256 0 0
MERCANTILE BANKSHARES CORP COM 587405101 47298 2137793 SH DEFINED 02 686827 814033 636933
MERCANTILE BANKSHARES CORP COM 587405101 5182 234256 SH DEFINED 03 137394 0 96862
MERCK & CO INC COM 589331107 106322 2494365 SH DEFINED 02 1169269 670781 654315
MERCK & CO INC COM 589331107 111 2600 SH DEFINED 03 2600 0 0
MERRILL LYNCH & CO INC COM 590188108 450 10600 SH DEFINED 02 0 10400 200
MERRY LD & INVT INC COM 590438107 209 10750 SH DEFINED 02 6000 4500 250
MICHAELS STORES INC COM 594087108 475 14300 SH DEFINED 02 0 0 14300
MICROSOFT CORP COM 594918104 2126 29900 SH DEFINED 02 15650 6250 8000
MID-ATLANTIC RLTY TR COM 595232109 89 11147 SH DEFINED 02 6332 3893 922
MILES HOMES INC COM 599268109 27 10000 SH DEFINED 02 0 0 10000
MILLIPORE CORP COM 601073109 630 11306 SH DEFINED 02 0 5410 5896
MINERALS TECHNOLOGIES INC COM 603158106 1054 32700 SH DEFINED 02 0 0 32700
MINNESOTA MNG & MFG CO COM 604059105 59436 1022556 SH DEFINED 02 532936 265364 224256
MINNESOTA MNG & MFG CO COM 604059105 143 2453 SH DEFINED 03 2053 0 400
LLOYD E MITCHELL INC. COM 605996107 221 2214 SH DEFINED 02 0 0 2214
MOBIL CORP COM 607059102 43206 466467 SH DEFINED 02 256522 124081 85864
MOBIL CORP COM 607059102 82 888 SH DEFINED 03 688 0 200
MOLEX INC COM 608554200 280 8314 SH DEFINED 02 390 0 7924
MONSANTO CO COM 611662107 598 7462 SH DEFINED 02 1020 3716 2726
MONSANTO CO COM 611662107 48 600 SH DEFINED 03 600 0 0
MOOG INC SUB 615394AA1 124 124000 PRN DEFINED 02 101000 0 23000
MORGAN J P & CO INC COM 616880100 20179 330806 SH DEFINED 02 203786 53150 73870
MORTON INTL INC IND COM 619331101 1936 66764 SH DEFINED 02 41500 15489 9775
MOTOROLA INC SUB 620076AJ8 69 100000 PRN DEFINED 02 100000 0 0
MOTOROLA INC COM 620076109 41776 764780 SH DEFINED 02 338276 234386 192118
MURPHY OIL CORP COM 626717102 22637 524918 SH DEFINED 02 304282 64566 156070
MUTUAL SER FD INC COM 628380107 687 8104 SH DEFINED 02 0 8104 0
MYLAN LABS INC COM 628530107 365 11500 SH DEFINED 02 0 5400 6100
NATIONAL CITY CORP COM 635405103 690 25936 SH DEFINED 02 8402 12334 5200
NATIONAL MED ENTERPRISES INC COM 636886103 448 28000 SH DEFINED 02 0 28000 0
NATIONSBANK CORP COM 638585109 2869 56535 SH DEFINED 02 5247 43597 7691
NATIONSBANK CORP COM 638585109 80 1575 SH DEFINED 03 567 0 1008
NATIONWIDE HEALTH PPTYS INC COM 638620104 309 8400 SH DEFINED 02 1200 6800 400
NESTLE S A COM 641069406 12465 254084 SH DEFINED 02 100250 99534 54300
NEUBERGER & BERMAN EQUITY FDS COM 641224209 439 21996 SH DEFINED 02 21996 0 0
NEW ENGLAND ELEC SYS COM 644001109 5737 185838 SH DEFINED 02 140533 13975 31330
KONG WAH HOLDINGS COM 649231008 18 200000 SH DEFINED 02 0 0 200000
NEW YORK VENTURE FD INC COM 650121106 6268 507964 SH DEFINED 02 0 172985 334979
<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
NEWELL CO COM 651192106 6038 236786 SH DEFINED 02 53096 51896 131794
NORAM ENERGY CORP COM 655419109 91 17056 SH DEFINED 02 12000 3956 1100
NORDSTROM INC COM 655664100 440 10800 SH DEFINED 02 0 300 10500
NORFOLK SOUTHERN CORP COM 655844108 29101 435159 SH DEFINED 02 226792 88006 120361
NORFOLK SOUTHERN CORP COM 655844108 233 3480 SH DEFINED 03 3230 0 250
NORTHEAST UTILS COM 664397106 8408 395704 SH DEFINED 02 254194 95900 45610
NORTHEAST UTILS COM 664397106 2237 105285 SH DEFINED 02 78027 19733 7525
NORTHEAST UTILS COM 664397106 21 1000 SH DEFINED 03 1000 0 0
NORTHERN STS PWR CO MINN COM 665772109 1626 36971 SH DEFINED 02 14396 19875 2700
NORTHERN TR CORP COM 665859104 385 10975 SH DEFINED 02 0 0 10975
NOVACARE INC SUB 669930AA7 1466 1810000 PRN DEFINED 02 1690000 0 120000
NOVELL INC COM 670006105 19377 1019880 SH DEFINED 02 805305 59650 154925
NOVELL INC COM 670006105 2 100 SH DEFINED 03 100 0 0
NUVEEN SELECT TAX-FREE COM 67062F100 190 13050 SH DEFINED 02 0 0 13050
NUVEEN MUN MKT OPPORTUNITY FD COM 67062W103 597 40483 SH DEFINED 02 1150 3333 36000
NYNEX CORP COM 670768100 611 15471 SH DEFINED 02 3667 7344 4460
NYNEX CORP COM 670768100 121 3060 SH DEFINED 03 3060 0 0
NUVEEN MUN VALUE FD INC COM 670928100 430 43075 SH DEFINED 02 1000 1666 40409
OLD REP INTL CORP SUB 680223AD6 108 105000 PRN DEFINED 02 0 0 105000
OLIN CORP COM 680665205 4659 86286 SH DEFINED 02 5389 1794 79103
OMNICARE INC SUB 681904AA6 50 30000 PRN DEFINED 02 0 20000 10000
OMNICARE INC COM 681904108 362 6900 SH DEFINED 02 0 5000 1900
OMNICOM GROUP SUB 681919AB2 433 400000 PRN DEFINED 02 0 10000 390000
ORION CAP CORP COM 686268103 214 6168 SH DEFINED 02 6168 0 0
PHH CORP COM 693320103 1882 49541 SH DEFINED 02 20900 13718 14923
PNC BK CORP SUB 693475AA3 10 5000 PRN DEFINED 02 0 0 5000
PNC BK CORP COM 693475105 422 17334 SH DEFINED 02 10100 3934 3300
PPG INDS INC COM 693506107 2985 79091 SH DEFINED 02 27554 41536 10001
PACIFIC GAS & ELEC CO COM 694308107 243 9793 SH DEFINED 02 3008 5035 1750
PACIFIC GAS & ELEC CO COM 694308107 20 800 SH DEFINED 03 800 0 0
PACIFIC GULF PPTYS INC SUB 694396AA0 136 155000 PRN DEFINED 02 0 90000 65000
PACIFIC TELESIS GROUP COM 694890104 13002 429851 SH DEFINED 02 235980 103931 89940
PACIFIC TELESIS GROUP COM 694890104 28 927 SH DEFINED 03 847 0 80
PACIFICORP COM 695114108 3506 180957 SH DEFINED 02 97421 46967 36569
PENNEY J C INC COM 708160106 9966 222099 SH DEFINED 02 160065 28884 33150
PENNSYLVANIA MUT FD INC COM 709000103 568 73711 SH DEFINED 02 0 73711 0
PENNZOIL CO SUB 709903BE7 45 50000 PRN DEFINED 02 50000 0 0
PENNZOIL CO COM 709903108 262 5550 SH DEFINED 02 1171 1023 3356
PEP BOYS MANNY MOE & JACK SUB 713278AG4 34 35000 PRN DEFINED 02 35000 0 0
PEPSICO INC COM 713448108 23708 605959 SH DEFINED 02 361464 127267 117228
PEPSICO INC COM 713448108 159 4075 SH DEFINED 03 3425 0 650
PETROLEUM GEO-SVCS A/S COM 716597109 634 28500 SH DEFINED 02 0 0 28500
PFIZER INC COM 717081103 49343 575429 SH DEFINED 02 286854 172047 116528
PFIZER INC COM 717081103 21 240 SH DEFINED 03 240 0 0
PHELPS DODGE CORP COM 717265102 10374 182403 SH DEFINED 02 137800 16758 27845
PHILIP MORRIS COS INC COM 718154107 75383 1153093 SH DEFINED 02 612916 264241 275936
PHILLIPS PETE CO COM 718507106 267 7304 SH DEFINED 02 300 6504 500
PIER 1 IMPORTS INC COM 720279108 1370 148120 SH DEFINED 02 145840 0 2280
PITNEY BOWES INC COM 724479100 1870 51949 SH DEFINED 02 0 6836 45113
PITNEY BOWES INC COM 724479100 13 350 SH DEFINED 03 100 0 250
<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
PITTWAY CORP DEL COM 725790208 643 13875 SH DEFINED 02 75 300 13500
POTASH CORP SASK INC COM 73755L107 367 8225 SH DEFINED 02 1600 0 6625
POTLATCH CORP COM 737628107 10315 244874 SH DEFINED 02 127525 57551 59798
POTOMAC ELEC PWR CO COM 737679100 814 43174 SH DEFINED 02 15906 15602 11666
POTOMAC ELEC PWR CO COM 737679100 110 5852 SH DEFINED 03 5852 0 0
PRAXAIR INC COM 74005P104 289 12470 SH DEFINED 02 4470 1200 6800
PREMARK INTL INC COM 740459102 971 22028 SH DEFINED 02 14396 3550 4082
PREMIER ST MUN BD FD COM 740902309 134 10673 SH DEFINED 02 6615 550 3507
PRICE CO SUB 741440AB7 280 330000 PRN DEFINED 02 200000 0 130000
T ROWE PRICE ASSOC INC COM 741477103 4830 132793 SH DEFINED 02 0 127693 5100
T ROWE PRICE GROWTH STK FD COM 741479109 556 27602 SH DEFINED 02 7689 13170 6742
PROCTER & GAMBLE CO COM 742718109 139183 2100886 SH DEFINED 02 1090143 685269 325474
PROCTER & GAMBLE CO COM 742718109 83 1250 SH DEFINED 03 1050 0 200
PROFFITTS INC SUB 742925AA8 82 105000 PRN DEFINED 02 50000 0 55000
PROGRESSIVE CORP OHIO COM 743315103 483 11900 SH DEFINED 02 0 0 11900
PROTECTIVE LIFE CORP COM 743674103 1140 24528 SH DEFINED 02 0 2328 22200
PROVIDENT BANKSHARES CORP COM 743859100 460 19400 SH DEFINED 02 1800 11200 6400
PROVIDENT ST BK PRESTON MD COM 744057100 212 8514 SH DEFINED 02 0 7314 1200
PROVIDIAN CORP COM 744061102 277 7900 SH DEFINED 02 100 4000 3800
PRUDENTIAL MUN SER FD COM 74435M200 251 21655 SH DEFINED 02 0 21655 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 293 10735 SH DEFINED 02 3785 2120 4830
PUBLIC SVC ENTERPRISE GROUP COM 744573106 82 3000 SH DEFINED 03 3000 0 0
QUAKER OATS CO COM 747402105 1229 37116 SH DEFINED 02 2160 28056 6900
QUAKER ST CORP COM 747410108 4328 314781 SH DEFINED 02 97134 38900 178747
QUALCOMM INC COM 747525103 327 10010 SH DEFINED 02 0 7000 3010
QUESTAR CORP COM 748356102 11073 369102 SH DEFINED 02 223000 84952 61150
RPM INC OHIO COM 749685103 913 45964 SH DEFINED 02 1500 42100 2364
RPM INC OHIO COM 749685103 20 1000 SH DEFINED 03 1000 0 0
RALSTON PURINA CO COM 751277302 626 13110 SH DEFINED 02 1904 2900 8306
RALSTON PURINA CO COM 751277302 76 1600 SH DEFINED 03 1600 0 0
RAYTHEON CO COM 755111101 6257 85871 SH DEFINED 02 52383 16434 17054
READERS DIGEST ASSN INC COM 755267101 15565 323440 SH DEFINED 02 238300 39700 45440
READERS DIGEST ASSN INC COM 755267200 992 22250 SH DEFINED 02 12450 8100 1700
REEBOK INTL LTD COM 758110100 648 18200 SH DEFINED 02 0 0 18200
REGIONS FINL CORP COM 758940100 12440 340826 SH DEFINED 02 151932 98649 90245
RESEARCH INDS CORP COM 761004100 238 13650 SH DEFINED 02 0 10700 2950
RETIREMENT PLANNING FDS AMER COM 761293604 257 21805 SH DEFINED 02 0 0 21805
REYNOLDS METALS CO COM 761763101 8115 164789 SH DEFINED 02 128733 13086 22970
RESERVOIR CAP CORP COM 761990407 127 25500 SH DEFINED 02 0 13500 12000
ROCKWELL INTL CORP COM 774347108 243 6248 SH DEFINED 02 5928 0 320
ROHM & HAAS CO COM 775371107 626 10624 SH DEFINED 02 6488 3936 200
ROUSE CO COM 779273101 2459 125349 SH DEFINED 02 1050 67650 56649
T ROWE PRICE EQUITY INCOME FD COM 779547108 536 31600 SH DEFINED 02 30083 1009 507
T ROWE PRICE INTL FD INC COM 77956H203 1710 152742 SH DEFINED 02 152742 0 0
T ROWE PRICE NEW HORIZONS FD COM 779562107 708 43727 SH DEFINED 02 0 18563 25163
T ROWE PRICE ST TAX FREE COM 77957R101 732 73050 SH DEFINED 02 0 71348 1702
T ROWE PRICE TAX FREE INCOME COM 779576107 315 34052 SH DEFINED 02 12522 20919 610
T ROWE PRICE TAX FREE SHORT COM 779902105 87 16572 SH DEFINED 02 0 0 16572
ROYAL DUTCH PETE CO COM 780257705 2109 17577 SH DEFINED 02 5346 6582 5649
ROYCE FD COM 780905105 770 81200 SH DEFINED 02 0 81200 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
SCECORP COM 783882103 181 11638 SH DEFINED 02 3289 2986 5363
ST PAUL COS INC COM 792860108 324 6484 SH DEFINED 02 700 2000 3784
SALOMON 6.75% "DEC" (ELKS) CPF 79549B511 312 8250 PRN DEFINED 02 8250 0 0
SAN JUAN RACING ASSN INC COM 798407102 0 30324 SH DEFINED 02 0 25000 5324
SANTA FE PAC GOLD CORP COM 802176107 133 10607 SH DEFINED 02 2237 6443 1927
SANTA FE PAC GOLD CORP COM 802176107 15 1200 SH DEFINED 03 1200 0 0
SANTA FE PAC CORP COM 802183103 711 31100 SH DEFINED 02 1263 28573 1264
SANTA FE PAC CORP COM 802183103 69 3031 SH DEFINED 03 3031 0 0
SARA LEE CORP COM 803111103 1580 60482 SH DEFINED 02 4300 40960 15222
SARA LEE CORP COM 803111103 125 4800 SH DEFINED 03 4800 0 0
SCANA CORP COM 805898103 357 8572 SH DEFINED 02 4022 3386 1164
SCANA CORP COM 805898103 46 1100 SH DEFINED 03 1100 0 0
SCHERER R P CORP DEL COM 806528105 547 10900 SH DEFINED 02 0 0 10900
SCHERING PLOUGH CORP COM 806605101 19740 265413 SH DEFINED 02 63085 175780 26548
SCHERING PLOUGH CORP COM 806605101 7 100 SH DEFINED 03 100 0 0
SCHLUMBERGER LTD COM 806857108 35834 600997 SH DEFINED 02 381067 109693 110237
SCHLUMBERGER LTD COM 806857108 12 200 SH DEFINED 03 200 0 0
SCHOLASTIC CORP COM 807066105 713 13100 SH DEFINED 02 0 0 13100
SCHULMAN A INC COM 808194104 1377 45154 SH DEFINED 02 0 0 45154
SCOTT PAPER CO COM 809877103 835 9392 SH DEFINED 02 400 3892 5100
SEAGRAM LTD COM 811850106 328 10356 SH DEFINED 02 0 9100 1256
SEARS ROEBUCK & CO COM 812387108 1642 30776 SH DEFINED 02 14292 6074 10410
SENSORMATIC ELECTRS CORP COM 817265101 793 28350 SH DEFINED 02 0 1500 26850
SEQUOIA FD INC COM 817418106 734 11973 SH DEFINED 02 0 3136 8837
SERVICE CORP INTL COM 817565104 278 9950 SH DEFINED 02 0 750 9200
SERVICEMASTER LTD PARTNERSHIP COM 817615107 2103 88580 SH DEFINED 02 1350 12977 74253
SHAW INDS INC COM 820286102 230 17400 SH DEFINED 02 3000 13900 500
SHERWIN WILLIAMS CO COM 824348106 602 17792 SH DEFINED 02 1592 8600 7600
SIGNET BKG CORP COM 826681108 1904 93494 SH DEFINED 02 39354 33219 20921
SIGNET BKG CORP COM 826681108 41 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 5032 17000 22632
SMITHKLINE BEECHAM PLC COM 832378400 4902 130720 SH DEFINED 02 45766 47320 37634
SONAT INC COM 835415100 1709 56988 SH DEFINED 02 31460 24568 960
SONOCO PRODS CO CPF 835495201 210 4000 PRN DEFINED 02 200 200 3600
SOUTHERN CO COM 842587107 545 26770 SH DEFINED 02 9332 9408 8030
SOUTHERN CO COM 842587107 4 200 SH DEFINED 03 200 0 0
MCNEIL REAL ESTATE FD XXV COM 844990101 14 80000 SH DEFINED 02 0 0 80000
SOUTHWESTERN BELL CORP COM 845333103 1674 39870 SH DEFINED 02 10858 17294 11718
SOUTHWESTERN PUB SVC CO COM 845743103 343 12316 SH DEFINED 02 3320 8396 600
SPACELABS MED INC COM 846247104 358 14325 SH DEFINED 02 975 80 13270
SPARKS ST BK MD COM 84699A107 276 6753 SH DEFINED 02 0 6753 0
SPRINT CORP COM 852061100 874 28896 SH DEFINED 02 12102 11070 5724
SPRINT CORP COM 852061100 5 168 SH DEFINED 03 168 0 0
STANDARD COML CORP SUB 853258AA9 1790 2420000 PRN DEFINED 02 1830000 35000 555000
STANLEY WKS COM 854616109 1832 46550 SH DEFINED 02 19375 11075 16100
STAPLES INC SUB 855030AB8 554 420000 PRN DEFINED 02 250000 20000 150000
STATE STR BOSTON CORP COM 857473102 392 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 559 15871 SH DEFINED 02 0 0 15871
<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
STEWART ENTERPRISES INC COM 860370105 348 12900 SH DEFINED 02 0 0 12900
STRIDE RITE CORP COM 863314100 4959 392812 SH DEFINED 02 156250 15200 221362
STRYKER CORP COM 863667101 306 6700 SH DEFINED 02 400 300 6000
STURM & DILLARD COMPANY COM 863992103 2619 216 SH DEFINED 02 205 0 11
SUBURBAN BANCSHARES INC COM 864350103 18 15000 SH DEFINED 02 0 0 15000
SUN INC COM 866762107 365 12817 SH DEFINED 02 1851 5482 5484
SUN INC COM 866762107 3 108 SH DEFINED 03 108 0 0
SUNTRUST BKS INC COM 867914103 4576 85536 SH DEFINED 02 51440 11450 22646
SYBRON INTL CORP - WISCONSIN COM 87114F106 451 12550 SH DEFINED 02 50 0 12500
SYMBION INC COM 871504106 7 42500 SH DEFINED 02 0 42500 0
SYSCO CORP COM 871829107 325 12300 SH DEFINED 02 3900 7400 1000
TECO ENERGY INC COM 872375100 326 15555 SH DEFINED 02 6508 6380 2667
TIG HLDGS INC COM 872469101 553 24600 SH DEFINED 02 0 200 24400
TRW INC COM 872649108 278 4044 SH DEFINED 02 2064 980 1000
TAMBRANDS INC COM 875080103 16930 379405 SH DEFINED 02 214230 58900 106275
TECH DATA CORP COM 878237106 261 25500 SH DEFINED 02 0 0 25500
TECHNE CORP COM 878377100 247 18300 SH DEFINED 02 0 13100 5200
TEMPLETON DEVELOPING MKTS TR COM 88018W104 342 27023 SH DEFINED 02 27023 0 0
TENNECO INC PFD 880370721 294 2923 SH DEFINED 02 0 2053 870
TEXACO INC COM 881694103 2161 32449 SH DEFINED 02 10256 14510 7683
TEXACO INC COM 881694103 147 2200 SH DEFINED 03 1900 0 300
TEXAS INSTRUMENTS INC COM 882508104 435 4916 SH DEFINED 02 200 2200 2516
TEXAS INSTRUMENTS INC COM 882508104 78 833 SH DEFINED 03 833 0 0
TEXAS UTILS CO COM 882848104 2524 79507 SH DEFINED 02 60132 11235 8140
TEXAS UTILS CO COM 882848104 64 2000 SH DEFINED 03 2000 0 0
THERMO ELECTRON CORP SUB 883556AE2 81 70000 PRN DEFINED 02 5000 0 65000
THERMO INSTR SYS INC SUB 883559AA4 88 50000 PRN DEFINED 02 50000 0 0
THOMAS & BETTS CORP COM 884315102 5731 88511 SH DEFINED 02 47429 32440 8642
THOMAS & BETTS CORP COM 884315102 62 950 SH DEFINED 03 700 0 250
TIME WARNER INC SUB 887315AQ2 47 47000 PRN DEFINED 02 0 34000 13000
TIME WARNER INC COM 887315109 383 10182 SH DEFINED 02 1400 5504 3278
ESCROW TIMES MIRROR CO COM 887360980 0 242478 SH DEFINED 02 92560 56375 93543
TIMES MIRROR CO NEW COM 887364107 4839 251404 SH DEFINED 02 104296 50839 96269
TIMES MIRROR CO NEW PFD 887364404 370 17249 SH DEFINED 02 9464 3411 4374
TIMKEN CO COM 887389104 4765 134251 SH DEFINED 02 34285 9266 90700
TORCHMARK CORP COM 891027104 1529 36846 SH DEFINED 02 0 5423 31423
TOYS R US COM 892335100 509 19883 SH DEFINED 02 6400 6075 7407
TRAVELERS INC COM 894190107 2230 57753 SH DEFINED 02 7641 41652 8460
TRAVELERS INC COM 894190107 8 200 SH DEFINED 03 200 0 0
TRIMAS CORP SUB 896215AA8 52 50000 PRN DEFINED 02 50000 0 0
TRIMAS CORP COM 896215100 685 30800 SH DEFINED 02 0 0 30800
TRINOVA CORP COM 896678109 249 8150 SH DEFINED 02 4350 300 3500
TYCO INTL LTD COM 902120104 1392 26339 SH DEFINED 02 0 550 25789
TYCO INTL LTD COM 902120104 11 200 SH DEFINED 03 0 0 200
USX CORP SUB 902905AG3 35 80000 PRN DEFINED 02 0 0 80000
USX-MARATHON GROUP NEW COM 902905827 610 34887 SH DEFINED 02 29182 4058 1647
USX-MARATHON GROUP NEW COM 902905827 7 390 SH DEFINED 03 390 0 0
UST INC COM 902911106 1549 48800 SH DEFINED 02 42000 0 6800
UNUM CORP COM 903192102 2458 54325 SH DEFINED 02 24175 12450 17700
USF&G CORP COM 903290104 1213 86662 SH DEFINED 02 22086 16648 47928
<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
UNIFI INC COM 904677101 893 33100 SH DEFINED 02 0 6400 26700
UNILEVER N V COM 904784501 4418 33665 SH DEFINED 02 8658 13255 11752
UNION CAMP CORP COM 905530101 27874 537341 SH DEFINED 02 332440 66726 138175
UNION NATL BANCORP INC COM 907103105 378 14000 SH DEFINED 02 0 0 14000
UNION PAC CORP COM 907818108 13352 243325 SH DEFINED 02 102483 73152 67690
UNITED DOMINION RLTY TR INC COM 910197102 221 15942 SH DEFINED 02 4500 1642 9800
UNITED DOMINION RLTY TR INC COM 910197102 3 200 SH DEFINED 03 200 0 0
U S BANCORP COM 911596104 208 8000 SH DEFINED 02 0 2000 6000
U S BANCORP COM 911596104 77 2975 SH DEFINED 03 2625 0 350
U S HEALTHCARE INC COM 911910107 226 5125 SH DEFINED 02 425 2450 2250
UNITED PARACALE MNG CO COM 911990307 0 25834 SH DEFINED 02 25834 0 0
U S WEST INC COM 912889102 869 21660 SH DEFINED 02 8191 7423 6046
U S WEST INC COM 912889102 31 772 SH DEFINED 03 772 0 0
UNITED TECHNOLOGIES CORP COM 913017109 26450 382644 SH DEFINED 02 268082 54845 59717
UNIVERSAL CORP VA COM 913456109 509 24400 SH DEFINED 02 0 22500 1900
UNIVERSAL FOODS CORP COM 913538104 6068 178484 SH DEFINED 02 138440 6425 33619
UPJOHN CO COM 915302103 216 6068 SH DEFINED 02 1690 3650 728
V F CORP COM 918204108 10701 201435 SH DEFINED 02 86200 12460 102775
VLSI TECHNOLOGY INC SUB 918270AA7 127 130000 PRN DEFINED 02 130000 0 0
VALASSIS COMMUNICATIONS INC COM 918866104 313 17200 SH DEFINED 02 0 0 17200
VALERO ENERGY CORP COM 919138107 282 15400 SH DEFINED 02 0 0 15400
VANCE SANDERS EXCH FD COM 921902102 1364 4869 SH DEFINED 02 0 4869 0
VANGUARD / WINDSOR FD INC COM 922018106 185 13563 SH DEFINED 02 2895 10668 0
VANGUARD INDEX TR COM 922908108 213 4546 SH DEFINED 02 0 140 4405
VIACOM INC COM 925524308 861 19253 SH DEFINED 02 2303 15350 1600
WMX TECHNOLOGIES INC COM 92929Q107 1463 53207 SH DEFINED 02 19100 13607 20500
WMX TECHNOLOGIES INC COM 92929Q107 6 200 SH DEFINED 03 200 0 0
WABAN INC SUB 929394AA2 169 175000 PRN DEFINED 02 140000 0 35000
WACHOVIA CORP NEW COM 929771103 4562 128515 SH DEFINED 02 39933 56782 31800
WACHOVIA CORP NEW COM 929771103 4 100 SH DEFINED 03 100 0 0
W&L SALES CO INC COM 929990406 3278 562814 SH DEFINED 02 562814 0 0
WAL MART STORES INC COM 931142103 5136 200454 SH DEFINED 02 42554 120000 37900
WAL MART STORES INC COM 931142103 159 6200 SH DEFINED 03 4800 0 1400
WARBURG PINCUS N Y MUN BD FD COM 933904104 104 10169 SH DEFINED 02 0 10169 0
WARBURG PINCUS INTL EQUITY FD COM 933910101 854 48610 SH DEFINED 02 44350 4259 0
WARNACO GROUP INC COM 934390105 482 27000 SH DEFINED 02 0 0 27000
WARNER LAMBERT CO COM 934488107 23536 300780 SH DEFINED 02 109593 109126 82061
WARNER LAMBERT CO COM 934488107 16 200 SH DEFINED 03 200 0 0
WASHINGTON GAS LT CO COM 938837101 14 346 SH DEFINED 01 346 0 0
WASHINGTON GAS LT CO COM 938837101 299 7430 SH DEFINED 02 2490 3995 945
WASHINGTON GAS LT CO COM 938837101 166 4100 SH DEFINED 03 4000 0 100
WASHINGTON POST CO COM 939640108 16397 63804 SH DEFINED 02 24652 2625 36527
WEINGARTEN RLTY INVS COM 948741103 214 6200 SH DEFINED 02 2500 3500 200
WEISS PECK & GREER FDS TR COM 949024509 566 94424 SH DEFINED 02 0 0 94424
WESTINGHOUSE ELEC CORP COM 960402105 280 19842 SH DEFINED 02 7288 4696 7858
WESTINGHOUSE ELEC CORP COM 960402105 28 2000 SH DEFINED 03 2000 0 0
WESTLAND GARDENS CO COM 960990208 224 75 SH DEFINED 02 0 0 75
WESTVACO CORP COM 961548104 12886 310519 SH DEFINED 02 203992 56316 50211
WEYERHAEUSER CO COM 962166104 445 11463 SH DEFINED 02 3064 6950 1449
WHIRLPOOL CORP COM 963320106 3779 69025 SH DEFINED 02 8500 40745 19780
<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
WHIRLPOOL CORP COM 963320106 23 411 SH DEFINED 03 411 0 0
WHITTAKER CORPORATION NEW COM 966680407 577 30000 SH DEFINED 02 0 30000 0
WILLCOX & GIBBS INC SUB 969207AC3 90 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 8536 314695 SH DEFINED 02 122316 50394 141985
WISCONSIN ENERGY CORP COM 976657106 81 3000 SH DEFINED 03 3000 0 0
WITCO CORP COM 977385103 26143 889983 SH DEFINED 02 414105 176436 299442
WOLVERINE TUBE INC COM 978093102 411 16458 SH DEFINED 02 150 0 16308
WORTHINGTON INDS INC COM 981811102 1263 63550 SH DEFINED 02 23825 20925 18800
WRIGLEY WM JR CO COM 982526105 296 6680 SH DEFINED 02 1860 3120 1700
XEROX CORP COM 984121103 997 8500 SH DEFINED 02 2135 3960 2405
YORK INTL CORP NEW COM 986670107 351 8908 SH DEFINED 02 75 200 8633
REPORT SUMMARY 712 DATA RECORDS 3550661 3 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>
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