<PAGE> PAGE 1
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007 C020200 THE JAMESTOWN BALANCED FUND
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007 C010300 3
007 C020300 THE TATTERSALL BOND FUND
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007 C010400 4
007 C020400 THE GOVERNMENT STREET EQUITY FUND
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007 C010500 5
007 C020500 THE GOVERNMENT STREET BOND FUND
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007 C010600 6
007 C020600 THE TATTERSALL SHORT TERM BOND FUND
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<PAGE> PAGE 2
007 C021000 THE ALABAMA TAX FREE BOND FUND
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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070 C020300 N
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070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 N
070 J020300 N
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070 K020300 Y
070 L010300 N
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<PAGE> PAGE 21
070 R010300 N
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<PAGE> PAGE 22
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008 B000401 A
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008 D030401 36633
014 A000401 COUNTRYWIDE INVESTMENTS, INC.
014 B000401 8-24674
014 A000402 CHARLES SCHWAB & CO., INC.
014 B000402 8-16514
014 A000403 DAVENPORT & COMPANY LLC
014 B000403 8-17103
014 A000404 CW FUND DISRIBUTORS, INC.
014 B000404 8-40907
015 A000401 FIRSTAR BANK, N.A.
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
070 H020400 N
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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014 A000502 CHARLES SCHWAB & CO., INC.
014 B000502 8-16514
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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014 A000601 COUNTRYWIDE INVESTMENTS, INC.
014 B000601 8-24674
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014 B000602 8-17103
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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008 B000701 A
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014 B000701 8-24674
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<PAGE> PAGE 39
014 B000702 8-17103
014 A000703 CW FUND DISTRIBUTORS, INC.
014 B000703 8-40907
015 A000701 FIRSTAR BANK, N.A.
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015 E010701 X
015 A000702 BANKERS TRUST COMPANY
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<PAGE> PAGE 40
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<PAGE> PAGE 41
054 C000700 Y
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054 E000700 N
054 F000700 N
054 G000700 N
054 H000700 Y
054 I000700 N
054 J000700 Y
054 K000700 N
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054 O000700 N
055 A000700 N
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066 F000700 N
066 G000700 N
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069 000700 N
<PAGE> PAGE 42
070 A010700 Y
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070 D010700 N
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 N
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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014 B000801 8-24674
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014 A000803 CW FUND DISTRIBUTORS, INC.
014 B000803 8-40907
015 A000801 FIRSTAR BANK, N.A.
015 B000801 C
015 C010801 CINCINNATI
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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070 E020800 N
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070 F020800 N
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070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 Y
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<PAGE> PAGE 48
070 O010800 Y
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<PAGE> PAGE 49
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008 B000901 A
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014 B000901 8-24674
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<PAGE> PAGE 50
015 C010901 CINCINNATI
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015 C030901 45202
015 E010901 X
015 A000902 BANKERS TRUST COMPANY
015 B000902 S
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<PAGE> PAGE 51
040 000900 N
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048 K020900 0.300
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<PAGE> PAGE 52
054 J000900 Y
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<PAGE> PAGE 53
070 E020900 N
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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008 D011102 BOSTON
008 D021102 MA
008 D031102 02110
011 A001101 CW FUND DISTRIBUTORS, INC.
011 B001101 8-40907
011 C011101 CINCINNATI
011 C021101 OH
011 C031101 45202
011 C041101 4094
014 A001101 COUNTRYWIDE INVESTMENTS, INC.
014 B001101 8-24674
014 A001102 DAVENPORT & COMPANY LLC
014 B001102 8-17103
014 A001103 CW FUND DISTRIBUTORS, INC.
014 B001103 8-40907
015 A001101 THE NORTHERN TRUST COMPANY
015 B001101 C
015 C011101 CHICAGO
015 C021101 IL
015 C031101 60675
<PAGE> PAGE 61
015 E011101 X
015 A001102 BANKBOSTON
015 B001102 S
015 C011102 BUENOS AIRES
015 D011102 ARGENTINA
015 E041102 X
015 A001103 WESTPAC BANKING CORPORATION
015 B001103 S
015 C011103 SYDNEY
015 D011103 AUSTRALIA
015 E041103 X
015 A001104 CREDITANSTALT BANKVEREIN
015 B001104 S
015 C011104 VIENNA
015 D011104 AUSTRIA
015 D021104 A-1090
015 E041104 X
015 A001105 BANQUE BRUXELLES LAMBERT
015 B001105 S
015 C011105 BRUSSELS
015 D011105 BELGIUM
015 D021105 1050
015 E041105 X
015 A001106 EUROCLEAR SYSTEM SOCIETE COOPERATIVE
015 B001106 S
015 C011106 BRUSSELS
015 D011106 BELGIUM
015 D021106 B-1210
015 E041106 X
015 A001107 BANKBOSTON
015 B001107 S
015 C011107 SAO PAULO
015 D011107 BRAZIL
015 D021107 01009
015 E041107 X
015 A001108 ROYAL BANK OF CANADA
015 B001108 S
015 C011108 TORONTO
015 D011108 CANADA
015 E041108 X
015 A001109 CITIBANK
015 B001109 S
015 C011109 SANTIAGO
015 D011109 CHILE
015 E041109 X
015 A001110 HONG KONG & SHANGHAI BANKING CORP.
015 B001110 S
015 C011110 SHANGHAI/HONG KONG
015 D011110 CHINA
015 E041110 X
015 A001111 CITITRUST COLUMBIA
<PAGE> PAGE 62
015 B001111 S
015 C011111 BOGOTA
015 D011111 COLUMBIA
015 E041111 X
015 A001112 CESKOSLOVENSKA OBCHODNI BANKA
015 B001112 S
015 C011112 PRAGUE
015 D011112 CZECH REPUBLIC
015 E041112 X
015 A001113 DEN DANSKE BANK
015 B001113 S
015 C011113 COPENHAGEN
015 D011113 DENMARK
015 D021113 DK-1092
015 E041113 X
015 A001114 FIRST NATIONAL BANK OF CHICAGO
015 B001114 S
015 C011114 LONDON
015 D011114 ENGLAND
015 D021114 WC2E9RB
015 E041114 X
015 A001115 THE NORTHERN TRUST COMPANY
015 B001115 S
015 C011115 LONDON
015 D011115 ENGLAND
015 D021115 EC2M3XS
015 E041115 X
015 A001116 MERITA BANK
015 B001116 S
015 C011116 HELSINKI
015 D011116 FINLAND
015 D021116 10
015 E041116 X
015 A001117 CREDIT COMMERCIAL DE FRANCE
015 B001117 S
015 C011117 PARIS
015 D011117 FRANCE
015 D021117 75419
015 E041117 X
015 A001118 DRESDNER BANK AG
015 B001118 S
015 C011118 FRANKFURT
015 D011118 GERMANY
015 E041118 X
015 A001119 BARCLAYS BANK
015 B001119 S
015 C011119 ATHENS
015 D011119 GREECE
015 E041119 X
015 A001120 CITIBANK BUDAPEST
015 B001120 S
<PAGE> PAGE 63
015 C011120 BUDAPEST
015 D011120 HUNGARY
015 E041120 X
015 A001121 CITIBANK
015 B001121 S
015 C011121 BOMBAY
015 D011121 INDIA
015 E041121 X
015 A001122 STANDARD CHARTERED BANK
015 B001122 S
015 C011122 JAKARTA
015 D011122 INDONESIA
015 D021122 10350
015 E041122 X
015 A001123 ALLIED IRISH BANK
015 B001123 S
015 C011123 DUBLIN
015 D011123 IRELAND
015 E041123 X
015 A001124 BANK LEUMI
015 B001124 S
015 C011124 TEL AVIV
015 D011124 ISRAEL
015 E041124 X
015 A001125 BANQUE PARIBAS
015 B001125 S
015 C011125 MILAN
015 D011125 ITALY
015 D021125 20121
015 E041125 X
015 A001126 BANK OF TOKYO - MITSUBISHI
015 B001126 S
015 C011126 TOKYO
015 D011126 JAPAN
015 D021126 100
015 E041126 X
015 A001127 CITIBANK BERHAD
015 B001127 S
015 C011127 KUALA LUMPAR
015 D011127 MALAYSIA
015 D021127 50050
015 E041127 X
015 A001128 BANCO NACIONAL DE MEXICO
015 B001128 S
015 C011128 MEXICO CITY
015 D011128 MEXICO
015 E041128 X
015 A001129 MEESPIERSON
015 B001129 S
015 C011129 AMSTERDAM
015 D011129 NETHERLANDS
<PAGE> PAGE 64
015 E041129 X
015 A001130 ANZ BANKING GROUP
015 B001130 S
015 C011130 WELLINGTON
015 D011130 NEW ZEALAND
015 E041130 X
015 A001131 CHRISTIANIA BANK OG KREDITKASSE
015 B001131 S
015 C011131 OSLO
015 D011131 NORWAY
015 D021131 0191,1
015 E041131 X
015 A001132 CITIBANK
015 B001132 S
015 C011132 KARACHI
015 D011132 PAKISTAN
015 E041132 X
015 A001133 CITIBANK
015 B001133 S
015 C011133 LIMA
015 D011133 PERU
015 D021133 27
015 E041133 X
015 A001134 THE HONG KONG & SHANGHAI BANKING CORPORATION
015 B001134 S
015 C011134 MANILA
015 D011134 PHILLIPPINES
015 E041134 X
015 A001135 BANK POLSKA KASA OPIEKI
015 B001135 S
015 C011135 WARSAW
015 D011135 POLAND
015 E041135 X
015 A001136 BANK HANDLOWY W. WARSZAWIE
015 B001136 S
015 C011136 WARSAW
015 D011136 POLAND
015 E041136 X
015 A001137 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B001137 S
015 C011137 LISBON
015 D011137 PORTUGAL
015 E041137 X
015 A001138 CREDIT SUISSE
015 B001138 S
015 C011138 MOSCOW
015 D011138 RUSSIA
015 E041138 X
015 A001139 DEVELOPMENT BANK OF SINGAPORE
015 B001139 S
015 C011139 SINGAPORE
<PAGE> PAGE 65
015 D011139 SINGAPORE
015 D021139 0104
015 E041139 X
015 A001140 THE STANDARD BANK OF SOUTH AFRICA
015 B001140 S
015 C011140 JOHANNESBURG
015 D011140 SOUTH AFRICA
015 D021140 2001
015 E041140 X
015 A001141 HONG KONG & SHANGHAI BANK
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015 C011141 SEOUL
015 D011141 SOUTH KOREA
015 E041141 X
015 A001142 BANCO BILBAO VIZCAYA
015 B001142 S
015 C011142 MADRID
015 D011142 SPAIN
015 E041142 X
015 A001143 SKANDINAVISKA ENSKILDA BANKEN
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015 D011143 SWEDEN
015 D021143 10640
015 E041143 X
015 A001144 BANK LEU
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015 C011144 ZURICH
015 D011144 SWITZERLAND
015 D021144 8001
015 E041144 X
015 A001145 CENTRAL TRUST OF CHINA
015 B001145 S
015 C011145 TAIPEI
015 D011145 TAIWAN
015 D021145 10006
015 E041145 X
015 A001146 CITIBANK
015 B001146 S
015 C011146 BANGKOK
015 D011146 THAILAND
015 D021146 10120
015 E041146 X
015 A001147 CITIBANK
015 B001147 S
015 C011147 MACKA
015 D011147 TURKEY
015 D021147 802000
015 E041147 X
015 A001148 CITIBANK
015 B001148 S
<PAGE> PAGE 66
015 C011148 CARACAS
015 D011148 VENEZUELA
015 D021148 1010
015 E041148 X
024 001100 N
025 D001101 0
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028 F011100 1201
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028 G011100 5065
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037 001100 N
038 001100 0
039 001100 N
040 001100 N
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042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
<PAGE> PAGE 67
042 F001100 0
042 G001100 0
042 H001100 0
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044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
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048 E021100 0.000
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048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 N
054 A001100 Y
054 B001100 Y
054 C001100 Y
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 N
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 Y
054 M001100 Y
054 N001100 N
054 O001100 N
<PAGE> PAGE 68
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
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062 E001100 0.0
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062 H001100 0.0
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062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
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062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 0.0
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 N
066 E001100 N
066 F001100 N
066 G001100 Y
067 001100 N
068 A001100 N
068 B001100 Y
069 001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
<PAGE> PAGE 69
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 Y
070 K021100 N
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 Y
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
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<PAGE> PAGE 70
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008 A001201 DAVENPORT & COMPANY LLC
008 B001201 A
008 C001201 801-13057
<PAGE> PAGE 71
008 D011201 RICHMOND
008 D021201 VA
008 D031201 23219
011 A001201 CW FUND DISTRIBUTORS, INC.
011 B001201 8-40907
011 C011201 CINCINNATI
011 C021201 OH
011 C031201 45202
011 C041201 4094
014 A001201 COUNTRYWIDE INVESTMENTS, INC.
014 B001201 8-24674
014 A001202 DAVENPORT & COMPANY LLC
014 B001202 8-17103
014 A001203 CW FUND DISTRIBUTORS, INC.
014 B001203 8-40907
015 A001201 FIRSTAR BANK, N.A.
015 B001201 C
015 C011201 CINCINNATI
015 C021201 OH
015 C031201 45202
015 E011201 X
015 A001202 BANKERS TRUST COMPANY
015 B001202 S
015 C011202 NEW YORK
015 C021202 NY
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015 E011202 X
024 001200 N
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<PAGE> PAGE 72
028 D041200 609
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<PAGE> PAGE 73
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050 001200 N
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054 E001200 N
054 F001200 N
054 G001200 N
054 H001200 Y
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 Y
054 M001200 Y
054 N001200 N
054 O001200 N
055 A001200 N
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<PAGE> PAGE 74
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066 F001200 N
066 G001200 N
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070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 N
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 N
070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 Y
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 N
070 N021200 N
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070 Q021200 N
070 R011200 N
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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SIGNATURE TINA D. HOSKING
TITLE SECRETARY
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<NAME> THE GOVERNMENT STREET BOND FUND
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<NAME> THE JAMESTOWN SHORT TERM BOND FUND
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<NAME> WILLIAMSBURG INVESTMENT TRUST
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<NAME> FBP CONTRARIAN EQUITY FUND
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<NAME> WILLIAMSBURG INVESTMENT TRUST
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<NAME> THE JAMESTOWN TAX EXEMPT VIRGINIA FUND
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<NAME> WILLIAMSBURG INVESTMENT TRUST
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<NAME> THE ALABAMA TAX FREE BOND FUND
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TAIT, WELLER & BAKER
CERTIFIED PUBLIC ACCOUNTANTS
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
BOARD OF TRUSTEES
THE WILLIAMSBURG INVESTMENT TRUST
CINCINNATI, OHIO
In planning and performing our audit of the financial statements of The
Tattersall Bond Fund, The Tattersall Short-Term Bond Fund, The Jamestown
Balanced Fund, The Jamestown Equity Fund, The Jamestown International Equity
Fund, The Jamestown Tax Exempt Virginia Fund, FBP Contrarian Balanced Fund, FBP
Contrarian Equity Fund, The Government Street Bond Fund, The Government Street
Equity Fund, The Alabama Tax Free Bond Fund and The Davenport Equity Fund, each
a series of shares of beneficial interest of The Williamsburg Investment Trust,
for the year ended March 31, 1999, we considered its internal control structure,
including procedures for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of the Funds is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition, and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses, as defined above, as of
March 31, 1999.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission, and should not be used for any other
purpose.
/s/ Tait, Weller & Baker
PHILADELPHIA, PENNSYLVANIA
APRIL 30, 1999
