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Previous: SECTOR STRATEGY FUND L P, 10-Q, 1999-11-12 |
Next: ML LIFE INSURANCE COMPANY OF NEW YORK, 10-Q, 1999-11-12 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 1999
---------------------
Check here if Amendment [ ]; Amendment Number: ___
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: National Life Insurance Company
-------------------------------
Address: One National Life Drive
-------------------------------
Montpelier, VT 05604
-------------------------------
Form 13F File Number: 28-2697
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Joyce B. LaRosa
--------------------
Title: Assistant Controller
--------------------
Phone: 802-229-7433
--------------------
Signature, Place, and Date of Signing:
/s/ Joyce B. LaRosa Montpelier, Vermont November 11, 1999
---------------------------- ------------------------ -----------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[ XX ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
NONE
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 3
--------------
Form 13F Information Table Entry Total: 533
--------------
Form 13F Information Table Value Total: $ 2,623,829
--------------
(thousands)
List of other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
--- -------------------- ----
01 28- * NL Capital Management, Inc.
02 28-3768 Sentinel Advisors Company
03 28- * National Life Investment Management, Inc.
* To be assigned
<PAGE>
<TABLE>
<CAPTION>
Form 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- -------------- -------------- ----- -------- ------- --- ---- ---------- -------- ---- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
AAR CORP. COM 000361105 918 51000 SHR SOLE 2 51000
----------- -----------
ABM INDUSTRIES INC. COM 000957100 939 37000 SHR SOLE 2 37000
----------- -----------
AFLAC, INC. COM 001055102 1506 36070 SHR SOLE 2 36070
----------- -----------
AT&T CORP. COM 001957109 62609 1439281 SHR SOLE 1,2 1439281
----------- -----------
ABBOTT LABORATORIES COM 002824100 2099 57189 SHR SOLE 1,2 57189
----------- -----------
ACXIOM CORP. COM 005125109 2359 119940 SHR SOLE 2 119940
----------- -----------
ADMINISTAFF INC COM 007094105 717 45000 SHR SOLE 2 45000
----------- -----------
ADOBE SYSTEMS COM 00724F101 12 102 SHR SOLE 2 102
----------- -----------
AFFILIATED COMPUTER SVCS COM 008190100 5664 139230 SHR SOLE 1,2 139230
----------- -----------
AIR EXPRESS INTL. CORP. COM 009104100 1634 72000 SHR SOLE 2 72000
----------- -----------
AKZO NOBEL NV - SPON ADR COM 010199305 73 1727 SHR SOLE 2 1727
----------- -----------
ALBERTO-CULVER CO CLASS COM 013068200 2837 145000 SHR SOLE 2 145000
----------- -----------
ALBERTSON'S, INC. COM 013104104 1537 38847 SHR SOLE 1 38847
----------- -----------
ALCOA INC. COM 013817101 22839 368000 SHR SOLE 1,2 368000
----------- -----------
ALCATEL ALSTHOM ADR COM 013904305 1110 40005 SHR SOLE 2 40005
----------- -----------
ALLERGAN, INC. COM 018490102 12 106 SHR SOLE 2 106
----------- -----------
ALLIED-SIGNAL INC. COM 019512102 172 2867 SHR SOLE 1,2 2867
----------- -----------
ALLSTATE CORPORATION COM 020002101 22980 920533 SHR SOLE 1,2 920533
----------- -----------
AMEREN CORP. COM 023608102 43 1133 SHR SOLE 1 1133
----------- -----------
AMERICA ONLINE INC. COM 02364J104 195 1878 SHR SOLE 2 1878
----------- -----------
AMERICAN EXPRESS CO. COM 025816109 54192 402720 SHR SOLE 1,2 402720
----------- -----------
AMERICAN GENERAL CORP. COM 026351106 44944 710905 SHR SOLE 1,2 710905
----------- -----------
AMERICAN HOMES PRODUCTS CORP. COM 026609107 64718 1559247 SHR SOLE 1,2 1559247
----------- -----------
AMERICAN INTERNATIONAL
GROUP, INC COM 026874107 43449 499803 SHR SOLE 1,2 499803
----------- -----------
AMES DEPARTMENT STORES COM 030789507 628 19700 SHR SOLE 2 19700
----------- -----------
AMERITECH CORPORATION COM 030954101 4623 69015 SHR SOLE 1,2 69015
----------- -----------
AMERIGAS PARTNERS LP COM 030975106 26 1400 SHR SOLE 1 1400
----------- -----------
AMGEN INC COM 031162100 246 3023 SHR SOLE 1,2 3023
----------- -----------
AMRESCO INC COM 031909104 0 70 SHR SOLE 2 70
----------- -----------
ANALOG DEVICES COM 032654105 4080 79600 SHR SOLE 2 79600
----------- -----------
ANALYSTS INTERNATIONAL CORP. COM 032681108 1515 146000 SHR SOLE 2 146000
----------- -----------
ANGLO AMERICAN PLC - SPON ADR COM 03485P102 15 275 SHR SOLE 2 275
----------- -----------
ANHEUSER-BUSCH COS INC COM 035229103 53 752 SHR SOLE 2 752
----------- -----------
APPLEBEES INTERNATIONAL COM 037899101 7748 230001 SHR SOLE 1,2 230001
----------- -----------
APPLIED MATLS INC COM 038222105 4615 59045 SHR SOLE 2 59045
----------- -----------
APPLIED POWER INC. COM 038225108 3554 117000 SHR SOLE 2 117000
----------- -----------
APTARGROUP INC COM 038336103 3210 120000 SHR SOLE 2 120000
----------- -----------
ARCHER-DANIELS-MIDLAND CO COM 039483102 116 9723 SHR SOLE 2 9723
----------- -----------
ARCHSTONE COMMUNITIES TRUST COM 039581103 42 2110 SHR SOLE 2 2110
----------- -----------
ASTRAZENECA PLC - SPON ADR COM 046353108 140 3342 SHR SOLE 2 3342
----------- -----------
ATLANTIC RICHFIELD COM 048825103 5 60 SHR SOLE 1 60
----------- -----------
AUSTRALIA/NZ BANK GRP 9.125% PFD 052528403 20 600 SHR SOLE 1 600
----------- -----------
AUTOMATIC DATA PROCESSING,INC. COM 053015103 41423 929923 SHR SOLE 1,2 929923
----------- -----------
AVALONBAY COMMUNITIES INC COM 053484101 4 109 SHR SOLE 2 109
----------- -----------
AVERY DENNISON CORP COM 053611109 10 186 SHR SOLE 2 186
----------- -----------
AVIALL INC COM 05366B102 2 187 SHR SOLE 2 187
----------- -----------
AVON PRODUCTS COM 054303102 10 411 SHR SOLE 2 411
----------- -----------
BASF AG - UNSPON ADR COM 055262406 119 2663 SHR SOLE 2 2663
----------- -----------
BCE INC. COM 05534B109 1454 29199 SHR SOLE 1 29199
----------- -----------
BP AMOCO PLC-SPONS ADR COM 055622104 696 6330 SHR SOLE 1,2 6330
----------- -----------
BANQ NATIONALE DEPARIS PFD 05562EAA6 1166 12500 SHR SOLE 1 12500
----------- -----------
BRE PROPERTIES CL A COM 05564E109 39 1640 SHR SOLE 2 1640
----------- -----------
BSB BANCORP COM 055652101 24 1012 SHR SOLE 1 1012
----------- -----------
BMC SOFTWARE INC COM 055921100 28 389 SHR SOLE 2 389
----------- -----------
BANCO SANTANDER CEN-SPON ADR COM 05964H105 118 11558 SHR SOLE 2 11558
----------- -----------
BANK OF AMERICA CORP. COM 060505104 29854 536857 SHR SOLE 1,2 536857
----------- -----------
BANKBOSTON CORPORATION COM 060716107 4 100 SHR SOLE 1 100
----------- -----------
BANK OF NEW YORK, INC COM 064057102 41578 1243624 SHR SOLE 1,2 1243624
----------- -----------
BANC ONE CORP. COM 06423A103 14 401 SHR SOLE 1 401
----------- -----------
BANKNORTH GROUP COM 06646L100 733 24550 SHR SOLE 1 24550
----------- -----------
BARCLAYS BK 8.00% PLC PFD 06738C836 15 600 SHR SOLE 1 600
----------- -----------
BARNES & NOBLE, INC COM 067774109 18 700 SHR SOLE 2 700
----------- -----------
BARR LABS INC. COM 068306109 1143 36000 SHR SOLE 2 36000
----------- -----------
BAXTER INTL INC COM 071813109 596 10005 SHR SOLE 1,2 10005
----------- -----------
BAYER AG-SPON ADR COM 072730302 82 1916 SHR SOLE 2 1916
----------- -----------
BECTON DICKINSON & CO COM 075887109 280 10203 SHR SOLE 1,2 10203
----------- -----------
BELL ATLANTIC CORP. COM 077853109 1966 29464 SHR SOLE 1,2 29464
----------- -----------
BELLSOUTH CORP. COM 079860102 1081 23989 SHR SOLE 1,2 23989
----------- -----------
BEMIS INC COM 081437105 16000 472700 SHR SOLE 1,2 472700
----------- -----------
BEN & JERRY'S HOMEMADE CL A COM 081465106 2 100 SHR SOLE 1 100
----------- -----------
BENTHOS INC. COM 082641101 1 150 SHR SOLE 1 150
----------- -----------
BERKSHIRE HATHAWAY INC. CL B COM 084670207 267 144 SHR SOLE 1 144
----------- -----------
BEST BUY INC COM 086516101 20 323 SHR SOLE 2 323
----------- -----------
BESTFOODS, INC. COM 08658U101 29942 616901 SHR SOLE 1,2 616901
----------- -----------
BIOGEN INC COM 090597105 3499 44400 SHR SOLE 2 44400
----------- -----------
BIOMET INC. COM 090613100 39 1500 SHR SOLE 1 1500
----------- -----------
BLACK & DECKER CORP COM 091797100 6 134 SHR SOLE 2 134
----------- -----------
H & R BLOCK COM 093671105 61 1400 SHR SOLE 1 1400
----------- -----------
BOEING CO COM 097023105 181 4300 SHR SOLE 2 4300
----------- -----------
BOSTON SCIENTIFIC COM 101137107 16 654 SHR SOLE 2 654
----------- -----------
BRISTOL-MYERS SQUIBB CO COM 110122108 3029 45008 SHR SOLE 1,2 45008
----------- -----------
BRITISH AIRWAYS PLC - SP COM 110419306 1474 25818 SHR SOLE 2 25818
----------- -----------
BRITISH STEEL (ADR) COM 111015301 1931 75000 SHR SOLE 2 75000
----------- -----------
BRITISH TELECOMM PLC ADR COM 111021408 2147 13840 SHR SOLE 2 13840
----------- -----------
BURLINGTON NORTHERN
SANTA FE CORP. COM 12189T104 534 19439 SHR SOLE 1,2 19439
----------- -----------
BURLINGTON RESOURCES, INC. COM 122014103 5513 150007 SHR SOLE 1,2 150007
----------- -----------
BURR-BROWN CORP. COM 122574106 869 22000 SHR SOLE 2 22000
----------- -----------
BUSH BOAKE ALLEN, INC. COM 123162109 4106 157770 SHR SOLE 2 157770
----------- -----------
C-COR.NET CORPORATION COM 125010108 881 29000 SHR SOLE 2 29000
----------- -----------
C-CUBE MICROSYSTEMS COM 125015107 7356 169100 SHR SOLE 2 169100
----------- -----------
CH ROBINSON WORLDWIDE COM 12541W100 6906 205000 SHR SOLE 1,2 205000
----------- -----------
CSX CORPORATION COM 126408103 8 200 SHR SOLE 1 200
----------- -----------
CTS CORP. COM 126501105 7544 131200 SHR SOLE 2 131200
----------- -----------
CVS CORP COM 126650100 101 2500 SHR SOLE 2 2500
----------- -----------
CABLE & WIRELESS PLC-SP ADR COM 126830207 7 200 SHR SOLE 1 200
----------- -----------
CABLE DESIGN TECH CORP COM 126924109 1962 86000 SHR SOLE 2 86000
----------- -----------
CABOT CORPORATION COM 127055101 168 7090 SHR SOLE 1 7090
----------- -----------
CACI INTL. INC. COM 127190304 1556 73000 SHR SOLE 2 73000
----------- -----------
CAL DIVE INTL INC COM 127914109 4230 123500 SHR SOLE 2 123500
----------- -----------
CAMBREX CORPORATION COM 132011107 7388 278800 SHR SOLE 1,2 278800
----------- -----------
CAMPBELL SOUP COM 134429109 105 2689 SHR SOLE 1,2 2689
----------- -----------
CANADIAN OCCIDENTAL PETR 9.75% PFD 136420403 52 2000 SHR SOLE 2 2000
----------- -----------
CANON INC SPON ADR COM 138006309 128 4440 SHR SOLE 2 4440
----------- -----------
CAPITAL ONE FINAL CORP COM 14040H105 12 317 SHR SOLE 2 317
----------- -----------
CARBO CERAMICS INC COM 140781105 921 33500 SHR SOLE 2 33500
----------- -----------
CARDINAL HEALTH INC COM 14149Y108 47 872 SHR SOLE 2 872
----------- -----------
CARLTON COMM PLC - SPON ADR COM 142872209 68 1875 SHR SOLE 2 1875
----------- -----------
CAROLINA POWER & LIGHT COM 144141108 35 1000 SHR SOLE 2 1000
----------- -----------
CARRAMERICA REALTY CORP COM 144418100 81 3680 SHR SOLE 2 3680
----------- -----------
CASEYS GEN STORE COM 147528103 965 72000 SHR SOLE 2 72000
----------- -----------
CATALINA MARKETING CORP COM 148867104 3426 40400 SHR SOLE 1,2 40400
----------- -----------
CATERPILLAR INC. COM 149123101 27 500 SHR SOLE 1 500
----------- -----------
CENTURI INC. COM 156410102 0 3000 SHR SOLE 1 3000
----------- -----------
CENTURYTEL, INC. COM 156700106 34 843 SHR SOLE 1 843
----------- -----------
CERIDIAN CORP COM 15677T106 6 232 SHR SOLE 2 232
----------- -----------
CHALONE WINE GROUP LTD COM 157639105 0 20 SHR SOLE 2 20
----------- -----------
CHASE MANHATTEN CORP. COM 16161A108 32640 433100 SHR SOLE 1,2 433100
----------- -----------
CHATEAU COMMUNITIES INC COM 161726104 4344 166610 SHR SOLE 1,2 166610
----------- -----------
CHEVRON OIL COM 166751107 30117 339350 SHR SOLE 1,2 339350
----------- -----------
CHIRON CORPORATION COM 170040109 1218 44000 SHR SOLE 2 44000
----------- -----------
CHITTENDEN CORP. COM 170228100 98 3433 SHR SOLE 1 3433
----------- -----------
CHUBB CORP. COM 171232101 417 8400 SHR SOLE 1,2 8400
----------- -----------
CIBER INC. COM 17163B102 1684 110000 SHR SOLE 2 110000
----------- -----------
CISCO SYSTEMS INC. COM 17275R102 4051 59106 SHR SOLE 1,2 59106
----------- -----------
CITIGROUP, INC. COM 172967101 41705 949889 SHR SOLE 1,2 949889
----------- -----------
CLOROX CO COM 189054109 14 379 SHR SOLE 2 379
----------- -----------
COASTAL CORP COM 190441105 0 9 SHR SOLE 2 9
----------- -----------
COCA-COLA CO. COM 191216100 424 8812 SHR SOLE 1,2 8812
----------- -----------
COLGATE-PALMOLIVE CO COM 194162103 43 934 SHR SOLE 2 934
----------- -----------
THE COLONEL'S INT'L. COM 195405105 6 1000 SHR SOLE 1 1000
----------- -----------
COMCAST CORP. CLASS A COM 200300101 4288 118900 SHR SOLE 1,2 118900
----------- -----------
COMCAST CORP. SPECIAL CLASS A COM 200300200 14192 355900 SHR SOLE 1,2 355900
----------- -----------
COMMUNITY BANCORP INC/VT COM 20343A101 3 308 SHR SOLE 1 308
----------- -----------
COMPAQ COMPUTER COM 204493100 137 6110 SHR SOLE 1,2 6110
----------- -----------
COMPASS BANCSHARES COM 20449H109 150 6000 SHR SOLE 1 6000
----------- -----------
COMPUTER ASSOCIATES INTE COM 204912109 4589 75188 SHR SOLE 1,2 75188
----------- -----------
COMPUWARE CORP COM 205638109 15 571 SHR SOLE 2 571
----------- -----------
COMSAT CAPITAL I CUM PFD
$8.125% PFD 205930209 24 1000 SHR SOLE 2 1000
----------- -----------
CONNECTICUT LHT & PWR PFD 207597774 8 168 SHR SOLE 1 168
----------- -----------
CONOCO INC. CLASS A COM 208251306 565 20365 SHR SOLE 1 20365
----------- -----------
CONOCO, INC. CL B COM 208251405 26267 959543 SHR SOLE 1,2 959543
----------- -----------
CORNING INC. COM 219350105 96 1396 SHR SOLE 1,2 1396
----------- -----------
COSTCO WHSL CORP COM 22160K105 193 2700 SHR SOLE 1,2 2700
----------- -----------
COUSINS PROPERTIES INC COM 222795106 79 2335 SHR SOLE 2 2335
----------- -----------
COVANCE INC. COM 222816100 3229 334655 SHR SOLE 1,2 334655
----------- -----------
COX COMMUNICATIONS INC COM 224044107 991 24100 SHR SOLE 2 24100
----------- -----------
GLOBAL CROSSING LTD. COM 228506500 42 1600 SHR SOLE 1 1600
----------- -----------
CULLEN/FROST BANKERS, INC. COM 229899109 759 30470 SHR SOLE 2 30470
----------- -----------
DPL INC COM 233293109 46 2700 SHR SOLE 2 2700
----------- -----------
DQE INC. COM 23329J104 29 747 SHR SOLE 1 747
----------- -----------
DAI NIPPON PRINT - UNSPON ADR COM 233806207 82 504 SHR SOLE 2 504
----------- -----------
DALLAS SEMICONDUCTOR COR COM 235204104 7738 144800 SHR SOLE 2 144800
----------- -----------
DAYTON-HUDSON CORP COM 239753106 916 15370 SHR SOLE 1,2 15370
----------- -----------
DEERE & CO. COM 244199105 46 1200 SHR SOLE 1 1200
----------- -----------
DELIA'S INC. COM 246885107 1 100 SHR SOLE 1 100
----------- -----------
DELL COMPUTER CORP COM 247025109 174 4173 SHR SOLE 2 4173
----------- -----------
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 2 139 SHR SOLE 2 139
----------- -----------
DELUXE CORP COM COM 248019101 111 3349 SHR SOLE 2 3349
----------- -----------
DEN DANSKE BANK - UNSPON ADR COM 248206203 68 598 SHR SOLE 2 598
----------- -----------
DEUTSCHE BANK - SPON ADR COM 251525309 58 868 SHR SOLE 2 868
----------- -----------
DEVELOPERS DIVERS REALTY CRP COM 251591103 35 2605 SHR SOLE 2 2605
----------- -----------
DIAGNOSTIC PRODUCTS CORP. COM 252450101 590 22000 SHR SOLE 2 22000
----------- -----------
WALT DISNEY CO COM 254687106 11428 441575 SHR SOLE 1,2 441575
----------- -----------
DOLLAR GENERAL COM 256669102 11 357 SHR SOLE 2 357
----------- -----------
DOMINION RESOURCES COM 257470104 9 200 SHR SOLE 1 200
----------- -----------
DONALDSON COMPANY, INC. COM 257651109 4893 211000 SHR SOLE 2 211000
----------- -----------
DOW JONES & CO INC COM 260561105 8 147 SHR SOLE 2 147
----------- -----------
EI DUPONT DE NEMOURS & CO COM 263534109 14403 236799 SHR SOLE 1,2 236799
----------- -----------
DUFF & PHELPS CREDIT RATING CO COM 26432F109 4077 51000 SHR SOLE 2 51000
----------- -----------
DUKE ENERGY CORPORATION COM 264399106 49095 890727 SHR SOLE 1,2 890727
----------- -----------
DUKE REALTY INVESTMENTS INC COM 264411505 72 3750 SHR SOLE 2 3750
----------- -----------
DUN & BRADSTREET COM 264830100 7 249 SHR SOLE 2 249
----------- -----------
DYNATECH CORPORATION COM 268140100 123 24500 SHR SOLE 2 24500
----------- -----------
EMC CORP. COM 268648102 116 1626 SHR SOLE 2 1626
----------- -----------
ENI SPA-SPONSORED ADR COM 26874R108 1961 31140 SHR SOLE 2 31140
----------- -----------
EAGLE USA AIRFREIGHT, INC. COM 270018104 4655 155500 SHR SOLE 2 155500
----------- -----------
EASTGROUP PROPERTIES COM 277276101 63 3525 SHR SOLE 2 3525
----------- -----------
EASTMAN KODAK CO. COM 277461109 98 1300 SHR SOLE 1 1300
----------- -----------
ECOLAB INC COM 278865100 33 1000 SHR SOLE 2 1000
----------- -----------
ELECTRONIC DATA SYSTEMS CORP. COM 285661104 32846 620367 SHR SOLE 1,2 620367
----------- -----------
ELF AQUITAINEADR SPON ADR COM 286269105 2127 23240 SHR SOLE 2 23240
----------- -----------
EMERSON ELECTRIC CO. COM 291011104 43725 691890 SHR SOLE 1,2 691890
----------- -----------
ENDESA - SPONSORED ADR COM 29258N107 2464 128890 SHR SOLE 2 128890
----------- -----------
ENGELHARD CORP COM 292845104 9 505 SHR SOLE 2 505
----------- -----------
ENHANCE FINANCIAL SVCS. GROUP COM 293310108 1804 102000 SHR SOLE 2 102000
----------- -----------
ENRON CORP. COM 293561106 71991 1748422 SHR SOLE 1,2 1748422
----------- -----------
ENTERGY CORPORATION COM 29364G103 23 800 SHR SOLE 1 800
----------- -----------
EQUIFAX COM 294429105 6 222 SHR SOLE 2 222
----------- -----------
EQUITY OFFICE PROP TR COM 294741103 57 2466 SHR SOLE 2 2466
----------- -----------
EQUITY RESIDENTIAL PROPS TR COM 29476L107 20 481 SHR SOLE 2 481
----------- -----------
ETHAN ALLEN INTERIORS, INC. COM 297602104 9091 287610 SHR SOLE 1,2 287610
----------- -----------
EXXON CORPORATION COM 302290101 25990 342254 SHR SOLE 1,2 342254
----------- -----------
FPL GROUP,INC. COM 302571104 20061 398400 SHR SOLE 1,2 398400
----------- -----------
FREDDIE MAC COM 313400301 83 1600 SHR SOLE 1 1600
----------- -----------
FEDERAL NATL MTGE ASSN COM 313586109 29100 464242 SHR SOLE 1,2 464242
----------- -----------
FEDERAL REALTY INVS TR COM 313747206 17 845 SHR SOLE 2 845
----------- -----------
FILENET CORP. COM 316869106 1539 144000 SHR SOLE 2 144000
----------- -----------
FIRST NAT'L COMMUNITY BANCORP COM 32110M101 50 1210 SHR SOLE 1 1210
----------- -----------
FIRST UNION CORP. COM 337358105 711 19950 SHR SOLE 1 19950
----------- -----------
FIRST UNION REAL ESTATE COM 337400105 12 2468 SHR SOLE 2 2468
----------- -----------
FLEET BOSTON CORPORATION COM 33901A108 60 1635 SHR SOLE 1 1635
----------- -----------
FLORIDA PROGRESS CORP. COM 341109106 28176 609200 SHR SOLE 1,2 609200
----------- -----------
FOODMAKER, INC. COM 344839204 1072 43000 SHR SOLE 2 43000
----------- -----------
FORD MOTOR CO. COM 345370100 49790 992508 SHR SOLE 1,2 992508
----------- -----------
FORT JAMES CORP COM 347471104 9 347 SHR SOLE 2 347
----------- -----------
FORTUNE BRANDS,INC. COM 349631101 32320 1002100 SHR SOLE 1,2 1002100
----------- -----------
FRANKLIN RESOURCES COM 354613101 40 1300 SHR SOLE 1 1300
----------- -----------
FREEPORT MCMORAN COPPER COM 35671D857 4 258 SHR SOLE 2 258
----------- -----------
FRESENIUS MED CARE ADR COM 358029106 6 247 SHR SOLE 2 247
----------- -----------
FRESENIUS NATL MED CARE
PFD CL D PFD 358030203 0 236 SHR SOLE 2 236
----------- -----------
FRONTIER INS GROUP INC COM 359081106 50 6000 SHR SOLE 2 6000
----------- -----------
FUJI PHOTO FILM - UNSPON ADR COM 359586302 111 3280 SHR SOLE 2 3280
----------- -----------
FURON CO. COM 361106107 10 400 SHR SOLE 1 400
----------- -----------
GTE CORPORATION COM 362320103 69469 904856 SHR SOLE 1,2 904856
----------- -----------
GAINSCO INC. COM 363127101 1 100 SHR SOLE 1 100
----------- -----------
GALLAHER GROUP PLC-ADR COM 363595109 8 300 SHR SOLE 2 300
----------- -----------
GANNETT CO INC COM 364730101 28 400 SHR SOLE 2 400
----------- -----------
GAP STORES COM 364760108 46 1447 SHR SOLE 1,2 1447
----------- -----------
GARDNER DENVER, INC. COM 365558105 560 37000 SHR SOLE 2 37000
----------- -----------
GATEWAY COMPUTER COM 367626108 22 505 SHR SOLE 2 505
----------- -----------
GENERAL ELECTRIC CO. COM 369604103 48411 408802 SHR SOLE 1,2 408802
----------- -----------
GENERAL GROWTH PPTYS INC COM 370021107 20 645 SHR SOLE 2 645
----------- -----------
GENERAL INSTRUMENTS CORP. COM 370120107 17762 369100 SHR SOLE 1,2 369100
----------- -----------
GENERAL MILLS INC COM 370334104 131 1613 SHR SOLE 1,2 1613
----------- -----------
GENERAL MOTORS CORP COM 370442105 25 400 SHR SOLE 2 400
----------- -----------
GENESIS HEALTH VENTURES INC COM 371912106 1 300 SHR SOLE 2 300
----------- -----------
GENZYME CORP COM 372917104 1938 43000 SHR SOLE 2 43000
----------- -----------
GILLETTE COMPANY COM 375766102 127 3737 SHR SOLE 1,2 3737
----------- -----------
GLAXO WELLCOME PLC SPONS ADR COM 37733W105 1310 25200 SHR SOLE 1,2 25200
----------- -----------
GLOBAL IND TECH INC COM 379335102 4 320 SHR SOLE 2 320
----------- -----------
GOODRICH CO., B.F. COM 382388106 22661 785135 SHR SOLE 1,2 785135
----------- -----------
W R GRACE & CO COM 383883105 18 236 SHR SOLE 2 236
----------- -----------
W.R. GRACE & CO. COM 38388F108 2 108 SHR SOLE 2 108
----------- -----------
GRANITE STATE BANKSHARES COM 387472103 81 3750 SHR SOLE 1 3750
----------- -----------
GREAT LAKES REIT INC COM 390752103 79 5167 SHR SOLE 2 5167
----------- -----------
GREAT WESTERN FINL 8.25% PFD 39141F203 39 1610 SHR SOLE 1 1610
----------- -----------
GROUPE DANONE - SPONS ADR COM 399449107 117 2421 SHR SOLE 2 2421
----------- -----------
GUIDANT CORP COM 401698105 26 485 SHR SOLE 2 485
----------- -----------
HCC INSURANCE HOLDINGS COM 404132102 4287 255000 SHR SOLE 2 255000
----------- -----------
HCR MANOR CARE INC COM 404134108 602 34770 SHR SOLE 2 34770
----------- -----------
HSBC HOLDINGS PLC SPON-ADR COM 404280406 159 2784 SHR SOLE 2 2784
----------- -----------
HALLIBURTON COMPANY COM 406216101 33671 821350 SHR SOLE 1,2 821350
----------- -----------
HARMAN INTL INDS INC COM 413086109 3029 72000 SHR SOLE 2 72000
----------- -----------
HEALTHCARE SVCS GCES GRO COM 421906108 1113 136500 SHR SOLE 2 136500
----------- -----------
HJ HEINZ CO COM 423074103 1313 30535 SHR SOLE 1,2 30535
----------- -----------
HERCULES INC COM 427056106 5 169 SHR SOLE 2 169
----------- -----------
HERSHEY FOODS CORP. COM 427866108 11043 226818 SHR SOLE 1,2 226818
----------- -----------
HEWLETT-PACKARD CO. COM 428236103 3556 39225 SHR SOLE 1,2 39225
----------- -----------
HILLENBRAND INDS INC COM 431573104 175 6400 SHR SOLE 2 6400
----------- -----------
HILTON HOTELS CORP COM 432848109 4 408 SHR SOLE 2 408
----------- -----------
HITACHI LTD - SPONS ADR COM 433578507 127 1197 SHR SOLE 2 1197
----------- -----------
HOME DEPOT INC COM 437076102 3360 48962 SHR SOLE 1,2 48962
----------- -----------
HOME PROPERTIES OF NY INC COM 437306103 60 2275 SHR SOLE 2 2275
----------- -----------
HONDA MOTOR CO LTD - SPON ADR COM 438128308 42 515 SHR SOLE 2 515
----------- -----------
HOUSEHOLD INTL INC COM 441815107 47 1153 SHR SOLE 2 1153
----------- -----------
HUMAN GENOME SCIENCES IN COM 444903108 1623 22000 SHR SOLE 2 22000
----------- -----------
IDG BOOKS WORLDWIDE, INC COM 449384106 574 36000 SHR SOLE 2 36000
----------- -----------
IMS HEALTH INC. COM 449934108 48 2098 SHR SOLE 1,2 2098
----------- -----------
IRT PROPERTY CO COM 450058102 18 1990 SHR SOLE 2 1990
----------- -----------
IDACORP INC COM 451107106 65 2200 SHR SOLE 2 2200
----------- -----------
ILLINOIS TOOL WORKS COM 452308109 7 100 SHR SOLE 1 100
----------- -----------
ILLINOVA CORP COM 452317100 22 800 SHR SOLE 2 800
----------- -----------
IMATION CORP COM 45245A107 1 40 SHR SOLE 2 40
----------- -----------
IMTEC INC. COM 452909104 1 200 SHR SOLE 1 200
----------- -----------
ING GROEP NV SPON ADR COM 456837103 112 2089 SHR SOLE 2 2089
----------- -----------
INTEL CORPORATION COM 458140100 17625 236974 SHR SOLE 1,2 236974
----------- -----------
IBM COM 459200101 52602 433738 SHR SOLE 1,2 433738
----------- -----------
INTERNATIONAL PAPER CO. COM 460146103 17408 362200 SHR SOLE 1,2 362200
----------- -----------
INTERPUBLIC GROUP COS. COM 460690100 18 448 SHR SOLE 2 448
----------- -----------
SAN PAOLO-IMI SPA COM 465224103 1694 65175 SHR SOLE 2 65175
----------- -----------
JDS UNIPHASE CORP. COM 46612J101 3005 26400 SHR SOLE 2 26400
----------- -----------
JEFFERSON PILOT CORP. COM 475070108 35528 562300 SHR SOLE 1,2 562300
----------- -----------
JOHNSON & JOHNSON COM 478160104 58798 640069 SHR SOLE 1,2 640069
----------- -----------
JONES PHARMA INC. COM 480236108 1220 37000 SHR SOLE 2 37000
----------- -----------
JOSTENS INC. COM 481088102 1 49 SHR SOLE 2 49
----------- -----------
K2 INC. COM 482732104 0 30 SHR SOLE 1 30
----------- -----------
KANSAS CITY SOUTHERN
INDUSTRIES COM 485170104 8 173 SHR SOLE 2 173
----------- -----------
KAUFMAN & BROAD HOME CORP COM 486168107 13 700 SHR SOLE 2 700
----------- -----------
KELLOGG CO. COM 487836108 61 1642 SHR SOLE 1,2 1642
----------- -----------
KELLWOOD CO. COM 488044108 9 400 SHR SOLE 1 400
----------- -----------
KEY ENERGY SERVICES INC. COM 492914106 988 200000 SHR SOLE 2 200000
----------- -----------
KEYCORP COM 493267108 745 28856 SHR SOLE 1 28856
----------- -----------
KILROY REALTY CORP. COM 49427F108 21 999 SHR SOLE 1 999
----------- -----------
KIMBERLY-CLARKE CORP. COM 494368103 63145 1201742 SHR SOLE 1,2 1201742
----------- -----------
KIMCO REALTY CORP COM 49446R109 3 75 SHR SOLE 2 75
----------- -----------
KINDER MORGAN ENERGY PARTNERS COM 494550106 84 1950 SHR SOLE 1 1950
----------- -----------
KOHL'S CORP COM 500255104 17 258 SHR SOLE 2 258
----------- -----------
KONINKLIJKE PHILIPS ELECTRONIC COM 500472204 1628 16125 SHR SOLE 2 16125
----------- -----------
KROGER CO COM 501044101 29 1328 SHR SOLE 2 1328
----------- -----------
KYOCERA CORP - SPONS ADR COM 501556203 117 1636 SHR SOLE 2 1636
----------- -----------
LAKEHEAD PIPE LINE
PARTNERS, L.P. COM 511557100 71 1675 SHR SOLE 1 1675
----------- -----------
LANDS' END INC COM 515086106 8307 125900 SHR SOLE 2 125900
----------- -----------
LEXMARK INTERNATL GROUP INC COM 529771107 5048 62709 SHR SOLE 2 62709
----------- -----------
LIBERTY PROPERTY TRUST COM 531172104 763 33578 SHR SOLE 1,2 33578
----------- -----------
LILLY, ELI COM 532457108 303 4750 SHR SOLE 1,2 4750
----------- -----------
LONE STAR INDS COM 542290408 1 18 SHR SOLE 2 18
----------- -----------
LORD ABBETT T/F FL COM 543912109 49 10564 SHR SOLE 2 10564
----------- -----------
LUCENT TECHNOLOGIES, INC. COM 549463107 2570 39697 SHR SOLE 1,2 39697
----------- -----------
MCI WORLDCOM, INC. COM 55268B106 1253 17286 SHR SOLE 1,2 17286
----------- -----------
MACK-CALI REALTY CORP COM 554489104 91 3490 SHR SOLE 2 3490
----------- -----------
MARRIOTT INTL CL A COM 571903202 42007 1285150 SHR SOLE 1,2 1285150
----------- -----------
MAY DEPT. STORES COM 577778103 27846 764220 SHR SOLE 1,2 764220
----------- -----------
MAYTAG CORP COM 578592107 4 135 SHR SOLE 2 135
----------- -----------
MCCORMICK & COMPANY COM 579780206 36099 1092160 SHR SOLE 1,2 1092160
----------- -----------
MCDONALD'S CORP. COM 580135101 6 144 SHR SOLE 1 144
----------- -----------
MCGRAW-HILL INC COM 580645109 43717 904665 SHR SOLE 1,2 904665
----------- -----------
MCKESSON HBOC COM 58155Q103 13 444 SHR SOLE 2 444
----------- -----------
MECH FINANCIAL, INC. COM 583685102 13 400 SHR SOLE 1 400
----------- -----------
MEDIAONE GROUP INC COM 58440J104 77 1145 SHR SOLE 2 1145
----------- -----------
MEDITRUST SBI COM 58501T306 5 540 SHR SOLE 1 540
----------- -----------
MEDTRONIC INC. COM 585055106 355 10188 SHR SOLE 2 10188
----------- -----------
MENTOR CORP. COM 587188103 3620 127000 SHR SOLE 2 127000
----------- -----------
MERCANTILE BANKSHARES CORP. COM 587405101 495 16000 SHR SOLE 2 16000
----------- -----------
MERCK & CO. COM 589331107 2262 34980 SHR SOLE 1,2 34980
----------- -----------
MEREDITH CORP. COM 589433101 2651 73000 SHR SOLE 2 73000
----------- -----------
METHODE ELECTRONICS INC CL A COM 591520200 5245 278200 SHR SOLE 2 278200
----------- -----------
MICROSOFT CORP. COM 594918104 1597 17749 SHR SOLE 1,2 17749
----------- -----------
MIDAMERICAN ENERGY HOLDINGS CO COM 59562V107 4001 135720 SHR SOLE 2 135720
----------- -----------
MILESTONE EXPLORATION LTD. COM 599352101 0 1470 SHR SOLE 1 1470
----------- -----------
MILLENNIUM PHRMACEUTICAL COM 599902103 1001 15400 SHR SOLE 2 15400
----------- -----------
MILLIPORE CORP COM 601073109 3 67 SHR SOLE 2 67
----------- -----------
MINNESOTA MINING & MFG CO COM 604059105 237 2488 SHR SOLE 1,2 2488
----------- -----------
MINNTECH CORP COM 604258103 1333 130000 SHR SOLE 2 130000
----------- -----------
MOBILE CLIMATE CONTROL
INDUSTRIES COM 606921310 1 1000 SHR SOLE 1 1000
----------- -----------
MOBIL CORPORATION COM 607059102 56064 557332 SHR SOLE 1,2 557332
----------- -----------
MONARCH DENTAL CORP. COM 609044102 188 86000 SHR SOLE 2 86000
----------- -----------
ROBERT MONDAVI, A COM 609200100 1653 44000 SHR SOLE 2 44000
----------- -----------
MONSANTO CO. COM 611662107 49544 1389740 SHR SOLE 1,2 1389740
----------- -----------
J.P. MORGAN & CO. COM 616880100 780 6830 SHR SOLE 1 6830
----------- -----------
MOTOROLA, INC. COM 620076109 5167 58586 SHR SOLE 1,2 58586
----------- -----------
NCR CORP COM 62886E112 2 55 SHR SOLE 2 55
----------- -----------
NABORS INDUSTRIES COM 629568106 342 13667 SHR SOLE 1 13667
----------- -----------
NATL AUSTRALIA BK LTD SPON ADR COM 632525408 117 1556 SHR SOLE 2 1556
----------- -----------
NETWORK ASSOCIATES INC. COM 640938106 23 1200 SHR SOLE 1 1200
----------- -----------
NESTLE SA SPONS ADR COM 641069406 155 1569 SHR SOLE 2 1569
----------- -----------
NETWORK APPLIANCE INC COM 64120L104 9 121 SHR SOLE 2 121
----------- -----------
NEW ENGLAND ELECTRIC COM 644001109 72 1384 SHR SOLE 1 1384
----------- -----------
NEW PLAN EXCEL REALTY TR COM 648053106 15 845 SHR SOLE 2 845
----------- -----------
NEWBRIDGE NETWORKS COM 650901101 8 300 SHR SOLE 1 300
----------- -----------
NEWELL RUBBERMAID INC COM 651229106 13 448 SHR SOLE 2 448
----------- -----------
NEWS CORP LTD -SPONS ADR COM 652487703 77 2672 SHR SOLE 2 2672
----------- -----------
NEW CORP LTD -SPONS ADR COM 652487802 27 1000 SHR SOLE 2 1000
----------- -----------
NEXTEL COMMUNICATION COM 65332V103 43 630 SHR SOLE 2 630
----------- -----------
NEXTLINK COMMUNICATIONS COM 65333H707 741 14300 SHR SOLE 2 14300
----------- -----------
NIELSEN MEDIA RESEARCH COM 653929307 20 535 SHR SOLE 1 535
----------- -----------
NICOR INC. COM 654086107 9 252 SHR SOLE 1 252
----------- -----------
NINTENDO OF AMERICA INC ADR COM 654445303 78 3710 SHR SOLE 2 3710
----------- -----------
NIPPON TELEC & TEL CORP COM 654624105 91 1520 SHR SOLE 2 1520
----------- -----------
NISOURCE INC. COM 65473P105 169 7690 SHR SOLE 1,2 7690
----------- -----------
NORFOLK-SOUTHERN COM 655844108 259 10569 SHR SOLE 1,2 10569
----------- -----------
NORSK HYDRO AS ADR COM 656531605 70 1675 SHR SOLE 2 1675
----------- -----------
NORTEL NETWORKS CORP. COM 656569100 2634 51650 SHR SOLE 1 51650
----------- -----------
NORTHERN STS PWR CO MINN COM 665772109 89 4200 SHR SOLE 2 4200
----------- -----------
NOVARTIS AG - ADR COM 66987V109 119 1656 SHR SOLE 2 1656
----------- -----------
NOVELL, INC. COM 670006105 1755 84970 SHR SOLE 2 84970
----------- -----------
NOVELLUS SYSTEMS INC COM 670008101 6331 93870 SHR SOLE 2 93870
----------- -----------
NOVO-NORDISK A/S - SPONS ADR COM 670100205 1709 28606 SHR SOLE 2 28606
----------- -----------
OCCIDENTAL PETROLEUM COM 674599105 26 1126 SHR SOLE 1 1126
----------- -----------
OCEANEERING INTL INC COM 675232102 740 44000 SHR SOLE 2 44000
----------- -----------
OMNICOM GROUP INC COM 681919106 66424 840421 SHR SOLE 1,2 840421
----------- -----------
ORACLE CORPORATION COM 68389X105 123 2707 SHR SOLE 1,2 2707
----------- -----------
ORTHODONTIC CENTERS OF AMERICA COM 68750P103 1278 73000 SHR SOLE 2 73000
----------- -----------
OUTBACK STEAKHOUSE INC. COM 689899102 1786 69420 SHR SOLE 2 69420
----------- -----------
OWENS CORNING COM 69073F103 2 86 SHR SOLE 2 86
----------- -----------
PE CORP COM 69332S102 12 166 SHR SOLE 2 166
----------- -----------
PP&L RESOURCES, INC. COM 693499105 367 13559 SHR SOLE 1 13559
----------- -----------
PSCO CAPITAL 7.6% PFD 69360R208 11 500 SHR SOLE 1 500
----------- -----------
PWG CAP CUM PFD 8.3% PFD 69366E205 49 2000 SHR SOLE 2 2000
----------- -----------
PG&E CORPORATION COM 694308107 11 432 SHR SOLE 1 432
----------- -----------
PACIFICORP COM 695114108 40 2014 SHR SOLE 2 2014
----------- -----------
PARAMETRIC TECHNOLOGY CO COM 699173100 6 429 SHR SOLE 2 429
----------- -----------
PARKER-HANNIFIN CORP. COM 701094104 39579 882485 SHR SOLE 1,2 882485
----------- -----------
PAYCHEX INC. COM 704326107 13 388 SHR SOLE 2 388
----------- -----------
PEOPLE'S BANK, BRIDGEPORT,CT COM 710198102 92 3900 SHR SOLE 1 3900
----------- -----------
PEOPLES HERITAGE FIN'L GROUP COM 711147108 9 562 SHR SOLE 1 562
----------- -----------
PEOPLESOFT INC COM 712713106 6 383 SHR SOLE 2 383
----------- -----------
PEPSICO, INC. COM 713448108 49572 1636893 SHR SOLE 1,2 1636893
----------- -----------
PT INDOSAT (PERSERO) TBK ADR COM 715680104 19 1441 SHR SOLE 1 1441
----------- -----------
PHARMACIA UPJOHN INC COM 716941109 27240 548900 SHR SOLE 1,2 548900
----------- -----------
PFIZER, INC. COM 717081103 2149 62266 SHR SOLE 1,2 62266
----------- -----------
PHILADELPHIA SUBURBAN CORP. COM 718009608 19 800 SHR SOLE 1 800
----------- -----------
PHILIP MORRIS COS COM 718154107 45291 1324715 SHR SOLE 1,2 1324715
----------- -----------
PHOTRONICS INC. COM 719405102 1687 75200 SHR SOLE 2 75200
----------- -----------
PIER 1 IMPORTS INC/DEL COM 720279108 7 1125 SHR SOLE 2 1125
----------- -----------
PIONEER HI-BRED INT'L COM 723686101 15 382 SHR SOLE 2 382
----------- -----------
PITNEY BOWES COM 724479100 26 427 SHR SOLE 2 427
----------- -----------
PLEXUS CORPORATION COM 729132100 1348 44000 SHR SOLE 2 44000
----------- -----------
PORTUGAL TELECOM SA - SPON ADR COM 737273102 2749 66563 SHR SOLE 2 66563
----------- -----------
POST PROPERTIES INC COM 737464107 21 545 SHR SOLE 2 545
----------- -----------
POTOMAC ELEC. POWER COM 737679100 23 886 SHR SOLE 1 886
----------- -----------
POWERGEN PLC - SPONS ADR COM 738905405 99 2364 SHR SOLE 2 2364
----------- -----------
PRAXAIR, INC. COM 74005P104 19067 414500 SHR SOLE 2 414500
----------- -----------
PROCTOR & GAMBLE COM 742718109 945 10031 SHR SOLE 1,2 10031
----------- -----------
PROGRESSIVE CORP COM 743315103 8 100 SHR SOLE 1 100
----------- -----------
PROLIGIS TRUST COM 743410102 65 3550 SHR SOLE 2 3550
----------- -----------
PROVIDIAN FINANCIAL COM 74406A102 18 230 SHR SOLE 2 230
----------- -----------
PUB SVC ENTERPR GROUP INC COM 744573106 55 1469 SHR SOLE 2 1469
----------- -----------
PUBLIC STORAGE INC COM 74460D109 26 1079 SHR SOLE 2 1079
----------- -----------
QUAKER OATS COM 747402105 13 214 SHR SOLE 2 214
----------- -----------
QUALCOMM INC COM 747525103 49 257 SHR SOLE 2 257
----------- -----------
RWE AKTIENGESELLSCHAF - SP ADR COM 74975E307 114 2683 SHR SOLE 2 2683
----------- -----------
RAILTEX, INC. COM 750766107 957 58000 SHR SOLE 2 58000
----------- -----------
RAMBUS INC. COM 750917106 20 300 SHR SOLE 1 300
----------- -----------
RALSTON PURINA GROUP COM 751277302 14 515 SHR SOLE 2 515
----------- -----------
RAYTHEON CO.- CLASS A COM 755111101 49 1000 SHR SOLE 2 1000
----------- -----------
RAYTHEON CO - CLASS A COM 755111309 1447 30617 SHR SOLE 2 30617
----------- -----------
RELIANT ENERGY INC. COM 75952J108 27 1015 SHR SOLE 1,2 1015
----------- -----------
REPSOL SA SPONSORED ADR COM 76026T205 2554 128024 SHR SOLE 1,2 128024
----------- -----------
REUTERS GROUP PLC COM 761324201 167 2426 SHR SOLE 1 2426
----------- -----------
RIO TINTO-SPONS ADR COM 767202104 93 1356 SHR SOLE 2 1356
----------- -----------
ROBBINS AND MYERS INC. COM 770196103 682 44000 SHR SOLE 2 44000
----------- -----------
ROBERTS PHARMACEUTICAL CORP. COM 770491108 1059 35000 SHR SOLE 2 35000
----------- -----------
ROYAL BK OF SCOTLD SER C 9.50% PFD 780097408 15 600 SHR SOLE 1 600
----------- -----------
ROYAL DUTCH PETROL. COM 780257705 1239 20979 SHR SOLE 1,2 20979
----------- -----------
ROYAL DUTCH PETROLEUM CO. COM 780257804 27888 472430 SHR SOLE 2 472430
----------- -----------
RUBY TUESDAY, INC. COM 781182100 7532 386480 SHR SOLE 2 386480
----------- -----------
RURAL CELLULAR CORP CLAS COM 781904107 780 17000 SHR SOLE 2 17000
----------- -----------
RYDER SYSTEM INC COM 783549108 16 750 SHR SOLE 2 750
----------- -----------
SBC COMMUNICATIONSINC. COM 78387G103 1213 23940 SHR SOLE 1,2 23940
----------- -----------
SLM HOLDINGS CORP COM 78442A109 132 3038 SHR SOLE 2 3038
----------- -----------
SAFEWAY INC COM 786514208 35 920 SHR SOLE 2 920
----------- -----------
ST PAUL COMPANIES INC COM 792860108 11 400 SHR SOLE 2 400
----------- -----------
SAP AG SPON-ADR COM 803054204 1564 41445 SHR SOLE 2 41445
----------- -----------
SARA LEE CORP. COM 803111103 30234 1289014 SHR SOLE 1,2 1289014
----------- -----------
SAWTEK INC COM 805468105 7001 201000 SHR SOLE 2 201000
----------- -----------
SCANA CORP. COM 805898103 10 400 SHR SOLE 1 400
----------- -----------
SCHERING-PLOUGH COM 806605101 18573 426521 SHR SOLE 1,2 426521
----------- -----------
SCHLUMBERGER LTD. COM 806857108 32888 528556 SHR SOLE 1,2 528556
----------- -----------
SCHWAB (CHARLES) CORP. COM 808513105 44 1310 SHR SOLE 2 1310
----------- -----------
SCIENTIFIC-ATLANTIC COM 808655104 3341 67400 SHR SOLE 2 67400
----------- -----------
SCOTTISH POWER PLC - ADR COM 81013T705 76 2110 SHR SOLE 2 2110
----------- -----------
SEAGRAM CO LTD COM 811850106 52 1200 SHR SOLE 2 1200
----------- -----------
SEALED AIR CORP COM 81211K100 19 369 SHR SOLE 2 369
----------- -----------
SEARS ROEBUCK & CO COM 812387108 60 2000 SHR SOLE 2 2000
----------- -----------
UNION SQUARE HOTEL PARTNERS COM 820936102 0 10000 SHR SOLE 2 10000
----------- -----------
SHELL TRANSPORT & TRADING ADR COM 822703609 2962 65131 SHR SOLE 2 65131
----------- -----------
SHERWIN-WILLIAMS COM 824348106 25645 1226280 SHR SOLE 1,2 1226280
----------- -----------
SIMON PROPERTY GROUP INC COM 828806109 39 1665 SHR SOLE 2 1665
----------- -----------
SMART & FINAL, INC. COM 831683107 800 80000 SHR SOLE 2 80000
----------- -----------
SMITH INTL INC. COM 832110100 4429 108970 SHR SOLE 2 108970
----------- -----------
SMITHKLINE BEECHAM SPONS COM 832378301 1818 31555 SHR SOLE 2 31555
----------- -----------
SOCIETE GENERALE - SPONS ADR COM 83364L109 154 3940 SHR SOLE 2 3940
----------- -----------
SODEXHO MARRIOTT SERVICES - WI COM 833793102 409 26187 SHR SOLE 2 26187
----------- -----------
SOLECTRON CORP COM 834182107 31 437 SHR SOLE 2 437
----------- -----------
SOLUTIA INC COM 834376105 0 20 SHR SOLE 2 20
----------- -----------
SONY CORP. COM 835699307 90 605 SHR SOLE 1,2 605
----------- -----------
SPIEKER PROPERTIES INC COM 848497103 58 1665 SHR SOLE 2 1665
----------- -----------
SPRINT CORP. COM 852061100 28119 518200 SHR SOLE 1,2 518200
----------- -----------
SPRINT CORP (PCS GROUP) COM 852061506 39 500 SHR SOLE 2 500
----------- -----------
STAAR SURGICAL CO COM 852312305 344 29000 SHR SOLE 2 29000
----------- -----------
STAPLES, INC. COM 855030102 67 3068 SHR SOLE 1,2 3068
----------- -----------
STRAYER EDUCATION, INC. COM 863236105 875 44000 SHR SOLE 2 44000
----------- -----------
SUMMIT BANCORP COM 866005101 164 5050 SHR SOLE 1 5050
----------- -----------
SUN MICROSYSTEMS COM 866810104 139 1494 SHR SOLE 1,2 1494
----------- -----------
SUNOCO INC COM 86764P109 6 208 SHR SOLE 2 208
----------- -----------
SUPERVALUE INC COM 868536103 75 3664 SHR SOLE 2 3664
----------- -----------
SYSCO CORP. COM 871829107 264 7530 SHR SOLE 1,2 7530
----------- -----------
TECO ENERGY COM 872375100 58 2740 SHR SOLE 1 2740
----------- -----------
TJX COMPANIES INC COM 872540109 217 7732 SHR SOLE 2 7732
----------- -----------
TALISMAN ENERGY INC. COM 87425E103 6 200 SHR SOLE 1 200
----------- -----------
TANDY CORP COM 875382103 16 304 SHR SOLE 2 304
----------- -----------
TAUBMAN CENTERS INC COM 876664103 39 3525 SHR SOLE 2 3525
----------- -----------
TEKELEC COM 879101103 1506 109000 SHR SOLE 2 109000
----------- -----------
TELECOM ARGENTINA SA-SP ADR COM 879273209 33 1253 SHR SOLE 1 1253
----------- -----------
TELECOM NEW ZEALAND ADS COM 879278208 19 600 SHR SOLE 1 600
----------- -----------
TELECOM ITALIA SPA-SP AD COM 87927W106 2262 26217 SHR SOLE 2 26217
----------- -----------
TELEFONICA SA ADR COM 879382208 594 12378 SHR SOLE 1 12378
----------- -----------
TELEFONOS DE MEXICO COM 879403780 1425 20000 SHR SOLE 2 20000
----------- -----------
TELIGENT INC CL A COM 87959Y103 561 11300 SHR SOLE 2 11300
----------- -----------
TELLABS INC COM 879664100 36 631 SHR SOLE 2 631
----------- -----------
TETRA TECHNOLOGIES, INC. COM 88162F105 2626 256800 SHR SOLE 2 256800
----------- -----------
TEXACO INC. COM 881694103 1840 29157 SHR SOLE 1,2 29157
----------- -----------
TEXAS INSTRUMENTS COM 882508104 104 1263 SHR SOLE 2 1263
----------- -----------
TEXAS UTIL CO HLDG CO COM 882848104 7 188 SHR SOLE 2 188
----------- -----------
THERMO ELECTRON CORP COM 883556102 10 750 SHR SOLE 2 750
----------- -----------
THOMAS & BETTS CORP COM 884315102 81 1600 SHR SOLE 2 1600
----------- -----------
3COM CORPORATION COM 885535104 6 200 SHR SOLE 1,2 200
----------- -----------
TIDEWATER INC. COM 886423102 3 100 SHR SOLE 1 100
----------- -----------
TIME WARNER INC. COM 887315109 412 6778 SHR SOLE 1,2 6778
----------- -----------
TIMES MIRROR CO.-DEL. COM 887364107 7 111 SHR SOLE 2 111
----------- -----------
TORCHMARK CORPORATION COM 891027104 24 910 SHR SOLE 1 910
----------- -----------
TRICON GLOBAL RESTAURANTS COM 895953107 29 720 SHR SOLE 1,2 720
----------- -----------
TRUE NORTH COMMUNICATIONS COM 897844106 7602 209670 SHR SOLE 2 209670
----------- -----------
TUPPERWARE CORP COM 899896104 2 89 SHR SOLE 2 89
----------- -----------
TYCO INTL LTD NEW COM 902124106 565 5605 SHR SOLE 2 5605
----------- -----------
UST INC. COM 902911106 1663 55059 SHR SOLE 2 55059
----------- -----------
UNISYS CORP COM 903907103 22 489 SHR SOLE 2 489
----------- -----------
UNIFIRST CORP. COM 904708104 2399 174350 SHR SOLE 1,2 174350
----------- -----------
UNIGATE PLC - UNSPONS ADR COM 904750403 77 12492 SHR SOLE 2 12492
----------- -----------
UNILEVER N V - NY SHARES COM 904784709 2916 42785 SHR SOLE 2 42785
----------- -----------
UNICOM CORP COM 904911104 80 2192 SHR SOLE 2 2192
----------- -----------
UNION CARBIDE CORP COM 905581104 75 1350 SHR SOLE 2 1350
----------- -----------
UNION PACIFIC CORP. COM 907818108 29538 615090 SHR SOLE 1,2 615090
----------- -----------
UNION PACIFIC RESOURCES COM 907834105 71 4370 SHR SOLE 1 4370
----------- -----------
UNITED DOMINION REALITY TRUST COM 910197102 20 1840 SHR SOLE 2 1840
----------- -----------
US AIRWAYS GROUP INC COM 911905107 3 112 SHR SOLE 2 112
----------- -----------
US WEST INC COM 91273H101 58 1061 SHR SOLE 2 1061
----------- -----------
US WEST INC. COM 912889102 140 2454 SHR SOLE 1,2 2454
----------- -----------
MEDIAONE GROUP INC. COM 912889201 48 707 SHR SOLE 1 707
----------- -----------
UNOCAL CORPORATION COM 915289102 83 2250 SHR SOLE 1 2250
----------- -----------
VERTEX PHARMACEUTICALS COM 92532F100 104 3350 SHR SOLE 1 3350
----------- -----------
VIACOM INC CL A COM 925524100 43 998 SHR SOLE 2 998
----------- -----------
VODAFONE GROUP PLC SPON ADR COM 92857T107 862 3671 SHR SOLE 1,2 3671
----------- -----------
VULCAN MATERIALS CO. COM 929160109 76 2085 SHR SOLE 1 2085
----------- -----------
WADDELL & REED FINANCIAL - A COM 930059100 3205 144070 SHR SOLE 1,2 144070
----------- -----------
WADDELL & REED FINANCIAL COM 930059209 962 45000 SHR SOLE 2 45000
----------- -----------
WAL-MART STORES INC COM 931142103 926 19721 SHR SOLE 1,2 19721
----------- -----------
WALGREEN CO COM 931422109 41 1606 SHR SOLE 2 1606
----------- -----------
WARNER-LAMBERT COM 934488107 421 6344 SHR SOLE 1,2 6344
----------- -----------
WASHINGTON REIT COM 939653101 20 1290 SHR SOLE 2 1290
----------- -----------
WASTE MANAGEMENT INC COM 94106L109 19 985 SHR SOLE 2 985
----------- -----------
WASTE SYSTEMS INTL. COM 94106P209 411 71428 SHR SOLE 2 71428
----------- -----------
WEINGARTEN REALTY INVST COM 948741103 21 545 SHR SOLE 2 545
----------- -----------
WELLS FARGO NEW COM 949746101 363 9198 SHR SOLE 1,2 9198
----------- -----------
WENDY'S INTERNATIONAL, INC. COM 950590109 6 227 SHR SOLE 1 227
----------- -----------
WESTERN PROPERTIES TRUST COM 959261108 18 1640 SHR SOLE 2 1640
----------- -----------
WET SEAL INCORPORATED CL A COM 961840105 1005 60850 SHR SOLE 2 60850
----------- -----------
WEYERHAUSER COM 962166104 23910 415220 SHR SOLE 2 415220
----------- -----------
WHOLE FOODS MKT INC COM 966837106 6778 207130 SHR SOLE 2 207130
----------- -----------
WILLIAMS COS., INC. COM 969457100 11424 305100 SHR SOLE 1,2 305100
----------- -----------
WILMINGTON TRUST CORP. COM 971807102 728 15000 SHR SOLE 2 15000
----------- -----------
WIND RIVER SYSTEMS, INC. COM 973149107 6 295 SHR SOLE 1 295
----------- -----------
WINN-DIXIE STORES INC COM 974280109 79 2532 SHR SOLE 2 2532
----------- -----------
WINSTAR COMMUNICATIONS INC. COM 975515107 1078 27600 SHR SOLE 2 27600
----------- -----------
WISCONSIN ENERGY COM 976657106 190 8127 SHR SOLE 1 8127
----------- -----------
WOLVERINE WORLD WIDE INC COM 978097103 3 300 SHR SOLE 2 300
----------- -----------
WORTHINGTON FOODS INC. COM 981809106 1064 74000 SHR SOLE 2 74000
----------- -----------
WRIGLEY (WM.) JR. CO. COM 982526105 23 338 SHR SOLE 1,2 338
----------- -----------
XEROX CORPORATION COM 984121103 120 2859 SHR SOLE 1,2 2859
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ZURICH ALLIED AG SPON-ADR COM 98981P101 52 445 SHR SOLE 2 445
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DAIMLERCHRYSLER AG COM D1668R123 1675 24124 SHR SOLE 1,2 24124
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GLOBAL CROSSING LTD COM G3921A100 34 1300 SHR SOLE 2 1300
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SANTA FE INTERNATIONAL CORP. COM G7805C108 10210 473500 SHR SOLE 1,2 473500
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