UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 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
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Phone: 802-229-7433
--------------------
Signature, Place, and Date of Signing:
/s/ Joyce B. LaRosa Montpelier, Vermont May 12, 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: 469
--------------
Form 13F Information Table Value Total: $ 2,884,186
--------------
(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.
<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> <C> <C>
AFLAC INC COM 001055102 3,620,096 66,500 SHR SOLE 2 66,500
- ------------------------------------------------------------------------------------------------------------------------------------
AT&T CORP. COM 001957109 50,886,771 637,579 SHR SOLE 1,2 634,014 3,565
- ------------------------------------------------------------------------------------------------------------------------------------
ABBOTT LABORATORIES COM 002824100 49,942,359 1,066,860 SHR SOLE 1,2 1,023,320 43,540
- ------------------------------------------------------------------------------------------------------------------------------------
ACXIOM CORP. COM 005125109 7,560,980 285,320 SHR SOLE 2 285,320
- ------------------------------------------------------------------------------------------------------------------------------------
Adams Express Company COM 006212104 162,424 5,988 SHR SOLE 1 5,988
- ------------------------------------------------------------------------------------------------------------------------------------
Adaptec Inc. COM 00651F108 27,375 1,200 SHR SOLE 1 1,200
- ------------------------------------------------------------------------------------------------------------------------------------
ADMINISTAFF INC COM 007094105 585,000 45,000 SHR SOLE 2 45,000
- ------------------------------------------------------------------------------------------------------------------------------------
Advent Software Inc. COM 007974108 17,500 350 SHR SOLE 1 350
- ------------------------------------------------------------------------------------------------------------------------------------
AFFILIATED COMPUTER SVCS - A COM 008190100 12,124,665 265,020 SHR SOLE 2 265,020
- ------------------------------------------------------------------------------------------------------------------------------------
AIRTOUCH COMM COM 00949T100 598,302 6,192 SHR SOLE 1,2 4,856 1,336
- ------------------------------------------------------------------------------------------------------------------------------------
AKZO NOBEL NV - SPON ADR COM 010199305 78,884 2,132 SHR SOLE 2 2,132
- ------------------------------------------------------------------------------------------------------------------------------------
ALBERTO CULVER CO. CL A COM 013068200 3,081,250 145,000 SHR SOLE 2 145,000
- ------------------------------------------------------------------------------------------------------------------------------------
Albertson's, Inc. COM 013104104 2,283,653 41,950 SHR SOLE 1 9,500 32,450
- ------------------------------------------------------------------------------------------------------------------------------------
ALCATEL ALSTHOM ADR COM 013904305 912,614 40,005 SHR SOLE 2 40,005
- ------------------------------------------------------------------------------------------------------------------------------------
Allied-Signal Inc. COM 019512102 33,447 680 SHR SOLE 1 680
- ------------------------------------------------------------------------------------------------------------------------------------
ALLSTATE CORP COM 020002101 42,598,415 1,149,368 SHR SOLE 2 1,149,368
- ------------------------------------------------------------------------------------------------------------------------------------
Ameren Corp. COM 023608102 41,000 1,133 SHR SOLE 1 1,133
- ------------------------------------------------------------------------------------------------------------------------------------
AMERICAN EXPRESS CO. COM 025816109 52,094,670 443,280 SHR SOLE 2 443,280
- ------------------------------------------------------------------------------------------------------------------------------------
AMERICAN GENERAL CORP COM 026351106 50,071,568 710,235 SHR SOLE 2 710,235
- ------------------------------------------------------------------------------------------------------------------------------------
AMERICAN HOME PRODUCTS COM 026609107 74,144,880 1,136,320 SHR SOLE 1,2 1,133,600 2,720
- ------------------------------------------------------------------------------------------------------------------------------------
AMERICAN INTERNATIONAL GROUP COM 026874107 47,888,365 397,002 SHR SOLE 1,2 368,020 28,982
- ------------------------------------------------------------------------------------------------------------------------------------
AMERITECH CORP COM 030954101 646,322 11,216 SHR SOLE 1,2 4,006 7,210
- ------------------------------------------------------------------------------------------------------------------------------------
Amerigas Partners LP COM 030975106 27,912 1,400 SHR SOLE 1 1,400
- ------------------------------------------------------------------------------------------------------------------------------------
Amgen COM 031162100 179,700 2,400 SHR SOLE 1 2,400
- ------------------------------------------------------------------------------------------------------------------------------------
ANALYSTS INTERNATIONAL CORP. COM 032681108 2,492,625 216,750 SHR SOLE 1,2 195,000 21,750
- ------------------------------------------------------------------------------------------------------------------------------------
APPLEBEES INTERNATIONAL COM 037899101 5,500,931 221,700 SHR SOLE 2 221,700
- ------------------------------------------------------------------------------------------------------------------------------------
APPLIED MATLS INC COM 038222105 381,849 6,190 SHR SOLE 2 6,190
- ------------------------------------------------------------------------------------------------------------------------------------
APTARGROUP INC COM 038336103 3,770,000 145,000 SHR SOLE 2 145,000
- ------------------------------------------------------------------------------------------------------------------------------------
ARCHER-DANIELS-MIDLAND CO COM 039483102 136,011 9,260 SHR SOLE 2 9,260
- ------------------------------------------------------------------------------------------------------------------------------------
ARCHSTONE COMMUNITIES TRUST COM 039581103 42,464 2,110 SHR SOLE 2 2,110
- ------------------------------------------------------------------------------------------------------------------------------------
ASSOCIATES FIRST CAPITAL CORP. COM 046008108 22,594,590 502,102 SHR SOLE 1,2 501,716 386
- ------------------------------------------------------------------------------------------------------------------------------------
ASTRA AB SPON-ADR REPSTG A COM 046298105 118,470 5,165 SHR SOLE 2 5,165
- ------------------------------------------------------------------------------------------------------------------------------------
Atlantic Richfield COM 048825103 4,387 60 SHR SOLE 1 60
- ------------------------------------------------------------------------------------------------------------------------------------
Australia/NZ Bank Grp 9.125% Cll 3/PRD 052528403 16,387 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
AUTOMATIC DATA PROCESSING,INC. COM 053015103 38,412,550 928,400 SHR SOLE 1,2 923,730 4,670
- ------------------------------------------------------------------------------------------------------------------------------------
AVALONBAY COMMUNITIES INC COM 053484101 3,474 109 SHR SOLE 2 109
- ------------------------------------------------------------------------------------------------------------------------------------
Avista Corporation COM 05379B107 13,000 800 SHR SOLE 1 800
- ------------------------------------------------------------------------------------------------------------------------------------
BASF AG - UNSPON ADR COM 055262406 79,161 2,163 SHR SOLE 2 2,163
- ------------------------------------------------------------------------------------------------------------------------------------
BCE Inc. COM 05534B109 1,206,408 27,225 SHR SOLE 1 10,500 16,725
- ------------------------------------------------------------------------------------------------------------------------------------
BP AMOCO PLC SPONS ADR COM 055622104 686,598 6,798 SHR SOLE 1,2 1,410 5,388
- ------------------------------------------------------------------------------------------------------------------------------------
BRE PROPERTIES CL A COM 05564E109 37,105 1,640 SHR SOLE 2 1,640
- ------------------------------------------------------------------------------------------------------------------------------------
BSB Bancorp COM 055652101 24,652 1,012 SHR SOLE 1 1,012
- ------------------------------------------------------------------------------------------------------------------------------------
Baker Hughes Inc COM 057224107 9,725 400 SHR SOLE 1 400
- ------------------------------------------------------------------------------------------------------------------------------------
BALLARD MEDICAL PRODUCTS COM 058566100 2,608,125 107,000 SHR SOLE 2 107,000
- ------------------------------------------------------------------------------------------------------------------------------------
BANCO DE SANTANDER ADR COM 059574202 91,864 4,579 SHR SOLE 2 4,579
- ------------------------------------------------------------------------------------------------------------------------------------
Banco Frances Rio PLA-SP ADR COM 059591107 12,283 692 SHR SOLE 1 692
- ------------------------------------------------------------------------------------------------------------------------------------
BankBoston Corporation COM 060716107 11,348 262 SHR SOLE 1 262
- ------------------------------------------------------------------------------------------------------------------------------------
BANK OF NEW YORK INC COM 064057102 44,575,803 1,240,370 SHR SOLE 1,2 1,235,825 4,545
- ------------------------------------------------------------------------------------------------------------------------------------
Banc One Corp. COM 06423A103 16,574 301 SHR SOLE 1 301
- ------------------------------------------------------------------------------------------------------------------------------------
BANKAMERICA CORP. COM 06605F102 37,835,012 535,717 SHR SOLE 1,2 535,518 199
- ------------------------------------------------------------------------------------------------------------------------------------
Banknorth Group COM 066461104 1,243,000 44,000 SHR SOLE 1 44,000
- ------------------------------------------------------------------------------------------------------------------------------------
BANKNORTH GROUP COM 06646L100 693,537 24,550 SHR SOLE 1 24,550
- ------------------------------------------------------------------------------------------------------------------------------------
Barclays Bk 8.00% PLC Ser E Cll 4/3PRD 06738C836 15,937 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
BARNES & NOBLE, INC COM 067774109 22,488 700 SHR SOLE 2 700
- ------------------------------------------------------------------------------------------------------------------------------------
BARR LABORATORIES COM 068306109 366,000 12,000 SHR SOLE 2 12,000
- ------------------------------------------------------------------------------------------------------------------------------------
BAXTER INTL INC COM 071813109 629,574 9,539 SHR SOLE 1,2 7,009 2,530
- ------------------------------------------------------------------------------------------------------------------------------------
BAYER AG-SPON ADR COM 072730302 58,665 1,566 SHR SOLE 2 1,566
- ------------------------------------------------------------------------------------------------------------------------------------
BECTON DICKINSON & CO. COM 075887109 27,504,149 717,890 SHR SOLE 1,2 717,290 600
- ------------------------------------------------------------------------------------------------------------------------------------
BELL ATLANTIC COM 077853109 1,305,725 25,262 SHR SOLE 1,2 9,336 15,926
- ------------------------------------------------------------------------------------------------------------------------------------
BELLSOUTH COM 079860102 834,018 20,818 SHR SOLE 1,2 6,690 14,128
- ------------------------------------------------------------------------------------------------------------------------------------
BEMIS COMPANY COM 081437105 23,012,984 740,860 SHR SOLE 2 740,860
- ------------------------------------------------------------------------------------------------------------------------------------
Ben & Jerry's Homemade Cl A COM 081465106 2,800 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
Benthos Inc. COM 082641101 928 150 SHR SOLE 1 150
- ------------------------------------------------------------------------------------------------------------------------------------
Berkshire Hathaway Inc. Cl B COM 084670207 331,491 141 SHR SOLE 1 141
- ------------------------------------------------------------------------------------------------------------------------------------
BEST BUY INCORPORATED COM 086516101 1,747,200 33,600 SHR SOLE 2 33,600
- ------------------------------------------------------------------------------------------------------------------------------------
BESTFOODS, INC. COM 08658U101 39,399,630 838,290 SHR SOLE 1,2 817,070 21,220
- ------------------------------------------------------------------------------------------------------------------------------------
BIOMET, INC. COM 090613100 4,214,719 100,500 SHR SOLE 1,2 99,000 1,500
- ------------------------------------------------------------------------------------------------------------------------------------
H & R Block COM 093671105 128,481 2,712 SHR SOLE 1 2,712
- ------------------------------------------------------------------------------------------------------------------------------------
BOEING CO COM 097023105 146,200 4,300 SHR SOLE 2 4,300
- ------------------------------------------------------------------------------------------------------------------------------------
Bowne & Co. COM 103043105 2,922 250 SHR SOLE 1 250
- ------------------------------------------------------------------------------------------------------------------------------------
BRISTOL-MYERS SQUIBB CO COM 110122108 2,462,400 38,400 SHR SOLE 1,2 12,900 25,500
- ------------------------------------------------------------------------------------------------------------------------------------
BRITISH AIRWAYS - SPONS ADR COM 110419306 1,760,094 25,648 SHR SOLE 2 25,648
- ------------------------------------------------------------------------------------------------------------------------------------
BRITISH STEEL (ADR) COM 111015301 1,514,062 75,000 SHR SOLE 2 75,000
- ------------------------------------------------------------------------------------------------------------------------------------
BRITISH TELECOM PLC-ADR COM 111021408 3,092,636 18,836 SHR SOLE 2 18,836
- ------------------------------------------------------------------------------------------------------------------------------------
Buenos Aires Embotelladora S.A. COM 119424208 - 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
BURLINGTON NORTHERN SANTA FE CORP COM 12189T104 767,434 23,344 SHR SOLE 1,2 7,314 16,030
- ------------------------------------------------------------------------------------------------------------------------------------
BURLINGTON RESOURCES INC COM 122014103 24,241 607 SHR SOLE 1,2 502 105
- ------------------------------------------------------------------------------------------------------------------------------------
BUSH BOAKE ALLEN, INC. COM 123162109 5,355,350 194,740 SHR SOLE 2 194,740
- ------------------------------------------------------------------------------------------------------------------------------------
C-COR ELECTRONICS, INC. COM 125010108 379,500 22,000 SHR SOLE 2 22,000
- ------------------------------------------------------------------------------------------------------------------------------------
C-CUBE MICROSYSTEMS COM 125015107 435,875 22,000 SHR SOLE 2 22,000
- ------------------------------------------------------------------------------------------------------------------------------------
C.H. ROBINSON WORLDWIDE COM 12541W100 4,375,250 172,000 SHR SOLE 2 172,000
- ------------------------------------------------------------------------------------------------------------------------------------
CIGNA Corp. COM 125509109 44,002 525 SHR SOLE 1 525
- ------------------------------------------------------------------------------------------------------------------------------------
CSX Corporation COM 126408103 7,787 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
CTS CORP COM 126501105 370,781 7,500 SHR SOLE 2 7,500
- ------------------------------------------------------------------------------------------------------------------------------------
CVS CORP COM 126650100 1,116,250 23,500 SHR SOLE 1,2 22,500 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
Cabot Corporation COM 127055101 150,662 7,090 SHR SOLE 1 7,090
- ------------------------------------------------------------------------------------------------------------------------------------
CACI INTL. INC. COM 127190304 2,439,000 144,000 SHR SOLE 2 144,000
- ------------------------------------------------------------------------------------------------------------------------------------
CAL DIVE INTERNATIONAL COM 127914109 960,250 46,000 SHR SOLE 2 46,000
- ------------------------------------------------------------------------------------------------------------------------------------
Yasuda Fire & Marine Insurance COM 12876Z000 5,040 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
CALENERGY CO INC COM 129466108 29,400 1,050 SHR SOLE 2 1,050
- ------------------------------------------------------------------------------------------------------------------------------------
CAMBREX CORP COM 132011107 6,024,638 272,300 SHR SOLE 2 272,300
- ------------------------------------------------------------------------------------------------------------------------------------
Campbell Soup COM 134429109 81,375 2,000 SHR SOLE 1 2,000
- ------------------------------------------------------------------------------------------------------------------------------------
CANON INC SPON ADR COM 138006309 86,905 3,640 SHR SOLE 2 3,640
- ------------------------------------------------------------------------------------------------------------------------------------
CARBO CERAMICS INC COM 140781105 648,750 30,000 SHR SOLE 2 30,000
- ------------------------------------------------------------------------------------------------------------------------------------
CARDINAL HEALTH INC COM 14149Y108 57,552 872 SHR SOLE 2 872
- ------------------------------------------------------------------------------------------------------------------------------------
Carey Diversified LLC COM 14174P105 23,330 1,319 SHR SOLE 1 1,319
- ------------------------------------------------------------------------------------------------------------------------------------
CARLTON COMM PLC - SPON ADR COM 142872209 73,068 1,495 SHR SOLE 2 1,495
- ------------------------------------------------------------------------------------------------------------------------------------
CAROLINA POWER & LIGHT COM 144141108 37,812 1,000 SHR SOLE 2 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
CARRAMERICA REALTY CORP COM 144418100 81,192 3,680 SHR SOLE 2 3,680
- ------------------------------------------------------------------------------------------------------------------------------------
CASEY'S GENERAL STORES COM 147528103 1,062,000 72,000 SHR SOLE 2 72,000
- ------------------------------------------------------------------------------------------------------------------------------------
CATALINA MARKETING CORP COM 148867104 12,020,783 139,980 SHR SOLE 2 139,980
- ------------------------------------------------------------------------------------------------------------------------------------
Caterpillar Inc. COM 149123101 22,969 500 SHR SOLE 1 500
- ------------------------------------------------------------------------------------------------------------------------------------
Centuri Inc. COM 156410102 - 3,000 SHR SOLE 1 3,000
- ------------------------------------------------------------------------------------------------------------------------------------
Century Telephone COM 156686107 39,480 562 SHR SOLE 1 562
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP. COM 16161A108 41,234,121 507,100 SHR SOLE 1,2 506,340 760
- ------------------------------------------------------------------------------------------------------------------------------------
CHATEAU COMMUNITIES COM 161726104 4,933,775 179,410 SHR SOLE 1,2 177,760 1,650
- ------------------------------------------------------------------------------------------------------------------------------------
CHEVRON CORP COM 166751107 30,031,874 339,525 SHR SOLE 1,2 336,350 3,175
- ------------------------------------------------------------------------------------------------------------------------------------
Chittenden Corp. COM 170228100 91,618 3,433 SHR SOLE 1 3,433
- ------------------------------------------------------------------------------------------------------------------------------------
Chubb Corp. COM 171232101 486,889 8,314 SHR SOLE 1 8,314
- ------------------------------------------------------------------------------------------------------------------------------------
CISCO SYSTEMS INC COM 17275R102 142,212 1,298 SHR SOLE 1,2 448 850
- ------------------------------------------------------------------------------------------------------------------------------------
CIRCUS CIRCUS ENTERPR INC COM 172909103 35,126 2,000 SHR SOLE 2 2,000
- ------------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COM 172967101 62,373,106 976,487 SHR SOLE 1,2 970,945 5,542
- ------------------------------------------------------------------------------------------------------------------------------------
Coca-Cola Co. COM 191216100 291,961 4,757 SHR SOLE 1 4,757
- ------------------------------------------------------------------------------------------------------------------------------------
The Colonel's Int'l. COM 195405105 7,125 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP - CLASS A COM 200300101 7,312,350 118,900 SHR SOLE 1,2 118,500 400
- ------------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP. SPECIAL CLASS A COM 200300200 7,458,093 118,500 SHR SOLE 2 118,500
- ------------------------------------------------------------------------------------------------------------------------------------
Commerce Bancorp NJ COM 200519106 14,272 346 SHR SOLE 1 346
- ------------------------------------------------------------------------------------------------------------------------------------
Community Bancorp Inc/VT COM 20343A101 3,234 308 SHR SOLE 1 308
- ------------------------------------------------------------------------------------------------------------------------------------
Community Banks Inc. COM 203628102 45,590 1,925 SHR SOLE 1 1,925
- ------------------------------------------------------------------------------------------------------------------------------------
COMPAQ COMPUTER CORP. COM 204493100 39,554,866 1,248,280 SHR SOLE 1,2 1,247,980 300
- ------------------------------------------------------------------------------------------------------------------------------------
Compass Bancshares COM 20449H109 163,185 4,730 SHR SOLE 1 4,730
- ------------------------------------------------------------------------------------------------------------------------------------
COMPUTER ASSOC INTL INC COM 204912109 673,023 18,925 SHR SOLE 1,2 6,000 12,925
- ------------------------------------------------------------------------------------------------------------------------------------
ConAgra, Inc. COM 205887102 26,599 1,038 SHR SOLE 1 1,038
- ------------------------------------------------------------------------------------------------------------------------------------
Conectiv Inc. COM 206829103 3,623 187 SHR SOLE 1 187
- ------------------------------------------------------------------------------------------------------------------------------------
Conectiv Inc. Cl A COM 206829202 1,114 31 SHR SOLE 1 31
- ------------------------------------------------------------------------------------------------------------------------------------
Connecticut Lht & Pwr Call 1/15/99 PRD 207597774 7,644 168 SHR SOLE 1 168
- ------------------------------------------------------------------------------------------------------------------------------------
CTG Resources, Inc. COM 207651100 12,062 500 SHR SOLE 1 500
- ------------------------------------------------------------------------------------------------------------------------------------
Corel Corp. Canada COM 21868Q109 1,375 400 SHR SOLE 1 400
- ------------------------------------------------------------------------------------------------------------------------------------
Corning Inc. COM 219350105 78,000 1,300 SHR SOLE 1 1,300
- ------------------------------------------------------------------------------------------------------------------------------------
COSTCO COMPANIES INC COM 22160Q102 79,100,861 863,900 SHR SOLE 2 863,900
- ------------------------------------------------------------------------------------------------------------------------------------
COUSINS PROPERTIES INC COM 222795106 67,570 2,335 SHR SOLE 2 2,335
- ------------------------------------------------------------------------------------------------------------------------------------
COVANCE INC COM 222816100 7,982,538 318,505 SHR SOLE 1,2 311,390 7,115
- ------------------------------------------------------------------------------------------------------------------------------------
COX COMMUNICATIONS CLASS COM 224044107 1,365,031 18,050 SHR SOLE 2 18,050
- ------------------------------------------------------------------------------------------------------------------------------------
CULLEN/FROST BANKERS, INC. COM 229899109 2,968,770 61,930 SHR SOLE 2 61,930
- ------------------------------------------------------------------------------------------------------------------------------------
DPL INC COM 233293109 44,550 2,700 SHR SOLE 2 2,700
- ------------------------------------------------------------------------------------------------------------------------------------
DQE Inc. COM 23329J104 28,666 747 SHR SOLE 1 747
- ------------------------------------------------------------------------------------------------------------------------------------
DAI NIPPON PRINT - UNSPON ADR COM 233806207 61,403 404 SHR SOLE 2 404
- ------------------------------------------------------------------------------------------------------------------------------------
DALLAS SEMICONDUCTOR COM 235204104 5,689,463 147,300 SHR SOLE 2 147,300
- ------------------------------------------------------------------------------------------------------------------------------------
DAYTON HUDSON CORP. COM 239753106 24,273,486 364,330 SHR SOLE 1,2 359,520 4,810
- ------------------------------------------------------------------------------------------------------------------------------------
Dean Foods COM 242361103 24,937 700 SHR SOLE 1 700
- ------------------------------------------------------------------------------------------------------------------------------------
Deere & Co. COM 244199105 46,350 1,200 SHR SOLE 1 1,200
- ------------------------------------------------------------------------------------------------------------------------------------
Delia's Inc. COM 246885107 3,150 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
DELUXE CORP COM COM 248019101 97,540 3,349 SHR SOLE 2 3,349
- ------------------------------------------------------------------------------------------------------------------------------------
DEN DANSKE BANK - UNSPON ADR COM 248206203 52,315 498 SHR SOLE 2 498
- ------------------------------------------------------------------------------------------------------------------------------------
DEUTSCHE BANK - SPON ADR COM 251525309 36,935 718 SHR SOLE 2 718
- ------------------------------------------------------------------------------------------------------------------------------------
DEVELOPERS DIVERS REALTY CRP COM 251591103 37,283 2,605 SHR SOLE 2 2,605
- ------------------------------------------------------------------------------------------------------------------------------------
DIAGNOSTIC PRODUCTS CORP. COM 252450101 412,250 17,000 SHR SOLE 2 17,000
- ------------------------------------------------------------------------------------------------------------------------------------
DISNEY, WALT CO. COM 254687106 70,809 2,275 SHR SOLE 1,2 1,200 1,075
- ------------------------------------------------------------------------------------------------------------------------------------
Dominion Resources COM 257470104 7,387 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
DONALDSON COMPANY, INC. COM 257651109 2,610,000 145,000 SHR SOLE 2 145,000
- ------------------------------------------------------------------------------------------------------------------------------------
E.I. DU PONT DE NEMOURS & CO. COM 263534109 17,305,585 298,051 SHR SOLE 1,2 282,850 15,201
- ------------------------------------------------------------------------------------------------------------------------------------
DUFF & PHELPS CREDIT RATING CO COM 26432F109 3,771,000 72,000 SHR SOLE 2 72,000
- ------------------------------------------------------------------------------------------------------------------------------------
DUKE ENERGY CORPORATION COM 264399106 23,546,880 431,003 SHR SOLE 1,2 428,550 2,453
- ------------------------------------------------------------------------------------------------------------------------------------
DUKE REALTY INVESTMENTS INC COM 264411505 80,625 3,750 SHR SOLE 2 3,750
- ------------------------------------------------------------------------------------------------------------------------------------
Durakon Industries Inc. COM 266334101 1,156 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
DYNATECH CORPORATION COM 268140100 84,219 24,500 SHR SOLE 2 24,500
- ------------------------------------------------------------------------------------------------------------------------------------
EAGLE USA AIRFREIGHT INC COM 270018104 585,000 18,000 SHR SOLE 2 18,000
- ------------------------------------------------------------------------------------------------------------------------------------
EASTGROUP PROPERTIES COM 277276101 56,841 3,525 SHR SOLE 2 3,525
- ------------------------------------------------------------------------------------------------------------------------------------
Eastman Kodak Co. COM 277461109 143,719 2,250 SHR SOLE 1 2,250
- ------------------------------------------------------------------------------------------------------------------------------------
ECOLAB INC COM 278865100 28,400 800 SHR SOLE 2 800
- ------------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC DATA SYSTEMS CORP COM 285661104 28,006,755 575,235 SHR SOLE 1,2 569,700 5,535
- ------------------------------------------------------------------------------------------------------------------------------------
ELF AQUITAINE SPON ADR COM 286269105 2,018,702 29,990 SHR SOLE 2 29,990
- ------------------------------------------------------------------------------------------------------------------------------------
EMERSON ELEC CO COM 291011104 38,983,190 736,400 SHR SOLE 1,2 735,090 1,310
- ------------------------------------------------------------------------------------------------------------------------------------
ENDESA - SPONSORED ADR COM 29258N107 2,686,251 107,990 SHR SOLE 2 107,990
- ------------------------------------------------------------------------------------------------------------------------------------
ENHANCE FINANCIAL SVCS. GROUP COM 293310108 3,949,400 173,600 SHR SOLE 2 173,600
- ------------------------------------------------------------------------------------------------------------------------------------
ENRON CORP COM 293561106 55,822,713 868,836 SHR SOLE 1,2 844,600 24,236
- ------------------------------------------------------------------------------------------------------------------------------------
Entergy Corporation COM 29364G103 22,000 800 SHR SOLE 1 800
- ------------------------------------------------------------------------------------------------------------------------------------
EQUITY OFFICE PROP TR COM 294741103 62,575 2,466 SHR SOLE 2 2,466
- ------------------------------------------------------------------------------------------------------------------------------------
EQUITY RESIDENTIAL PROPS TR COM 29476L107 28,091 681 SHR SOLE 2 481 200
- ------------------------------------------------------------------------------------------------------------------------------------
ETHAN ALLEN INTERIORS COM 297602104 7,797,534 187,610 SHR SOLE 1,2 184,750 2,860
- ------------------------------------------------------------------------------------------------------------------------------------
EUROPE FUND INC COM 29874M103 440,501 26,200 SHR SOLE 2 26,200
- ------------------------------------------------------------------------------------------------------------------------------------
Exodus Communications Inc. COM 302088109 4,035 30 SHR SOLE 1 30
- ------------------------------------------------------------------------------------------------------------------------------------
EXXON CORP COM 302290101 24,222,979 343,284 SHR SOLE 1,2 280,630 62,654
- ------------------------------------------------------------------------------------------------------------------------------------
FPL GROUP,INC. COM 302571104 21,163,680 397,440 SHR SOLE 1,2 396,590 850
- ------------------------------------------------------------------------------------------------------------------------------------
Freddie Mac COM 313400301 91,700 1,600 SHR SOLE 1 1,600
- ------------------------------------------------------------------------------------------------------------------------------------
FEDERAL NAT'L MTG. ASSOC. COM 313586109 31,437,076 453,965 SHR SOLE 1,2 439,475 14,490
- ------------------------------------------------------------------------------------------------------------------------------------
FEDERAL REALTY INVS TR COM 313747206 17,903 845 SHR SOLE 2 845
- ------------------------------------------------------------------------------------------------------------------------------------
FILENET CORP. COM 316869106 1,935,500 276,500 SHR SOLE 2 276,500
- ------------------------------------------------------------------------------------------------------------------------------------
First Nat'l Community Bancorp COM 32110M101 47,190 1,210 SHR SOLE 1 1,210
- ------------------------------------------------------------------------------------------------------------------------------------
FIRST UNION CORP. COM 337358105 33,062,424 618,712 SHR SOLE 1,2 609,454 9,258
- ------------------------------------------------------------------------------------------------------------------------------------
Fleet Financial Group COM 338915101 250,281 6,652 SHR SOLE 1 6,652
- ------------------------------------------------------------------------------------------------------------------------------------
FLORIDA PROGRESS CORP COM 341109106 23,038,825 610,300 SHR SOLE 1,2 608,800 1,500
- ------------------------------------------------------------------------------------------------------------------------------------
FORD MOTOR CO COM 345370100 56,062,364 987,948 SHR SOLE 1,2 987,210 738
- ------------------------------------------------------------------------------------------------------------------------------------
FORTUNE BRANDS, INC. COM 349631101 47,580,092 1,230,000 SHR SOLE 2 1,230,000
- ------------------------------------------------------------------------------------------------------------------------------------
Franklin Resources COM 354613101 48,881 1,738 SHR SOLE 1 1,738
- ------------------------------------------------------------------------------------------------------------------------------------
FRONTIER INS GROUP INC COM 359081106 71,250 6,000 SHR SOLE 2 6,000
- ------------------------------------------------------------------------------------------------------------------------------------
FUJI PHOTO FILM - UNSPON ADR COM 359586302 98,296 2,630 SHR SOLE 2 2,630
- ------------------------------------------------------------------------------------------------------------------------------------
Furon Co. COM 361106107 5,050 400 SHR SOLE 1 400
- ------------------------------------------------------------------------------------------------------------------------------------
GTE CORP COM 362320103 54,644,508 903,215 SHR SOLE 1,2 901,365 1,850
- ------------------------------------------------------------------------------------------------------------------------------------
Gainsco Inc. COM 363127101 487 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
GANNETT CO COM 364730101 46,332,720 735,440 SHR SOLE 2 735,440
- ------------------------------------------------------------------------------------------------------------------------------------
GAP INC COM 364760108 45,382,357 674,204 SHR SOLE 1,2 674,150 54
- ------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc.(Special Putable) COM 368710307 8,862 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
GENERAL ELECTRIC CO COM 369604103 45,714,675 413,240 SHR SOLE 1,2 326,570 86,670
- ------------------------------------------------------------------------------------------------------------------------------------
GENERAL GROWTH PPTYS INC COM 370021107 20,922 645 SHR SOLE 2 645
- ------------------------------------------------------------------------------------------------------------------------------------
General Mills COM 370334104 103,067 1,364 SHR SOLE 1 1,364
- ------------------------------------------------------------------------------------------------------------------------------------
GENESIS HEALTH VENTURES INC COM 371912106 651,788 133,700 SHR SOLE 2 133,700
- ------------------------------------------------------------------------------------------------------------------------------------
Gillette Company COM 375766102 59,437 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
GLAXO PLC ADR COM 37733W105 1,695,861 25,335 SHR SOLE 1,2 25,000 335
- ------------------------------------------------------------------------------------------------------------------------------------
GOODRICH CO., B.F. COM 382388106 45,299,682 1,320,210 SHR SOLE 1,2 1,293,380 26,830
- ------------------------------------------------------------------------------------------------------------------------------------
Granite State Bankshares COM 387472103 79,219 3,750 SHR SOLE 1 3,750
- ------------------------------------------------------------------------------------------------------------------------------------
GREAT LAKES REIT INC COM 390752103 74,922 5,167 SHR SOLE 2 5,167
- ------------------------------------------------------------------------------------------------------------------------------------
Great Western Finl 8.25% Call 12/31PRD 39141F203 40,753 1,610 SHR SOLE 1 1,610
- ------------------------------------------------------------------------------------------------------------------------------------
Green Mtn Coffee Inc. COM 393122106 1,275 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
GROUPE DANONE - SPONS ADR COM 399449107 125,236 2,511 SHR SOLE 2 2,511
- ------------------------------------------------------------------------------------------------------------------------------------
HCC INSURANCE HOLDINGS COM 404132102 4,158,000 216,000 SHR SOLE 2 216,000
- ------------------------------------------------------------------------------------------------------------------------------------
HCR MANOR CARE, INC. COM 404134108 3,640,890 159,600 SHR SOLE 2 159,600
- ------------------------------------------------------------------------------------------------------------------------------------
HSBC HOLDINGS PLC - SPONS ADR COM 404280307 120,410 384 SHR SOLE 2 384
- ------------------------------------------------------------------------------------------------------------------------------------
HALLIBURTON CO COM 406216101 31,499,545 818,170 SHR SOLE 1,2 817,970 200
- ------------------------------------------------------------------------------------------------------------------------------------
JOHN HAN BK & TR OPP FD COM 409735107 32,220 3,531 SHR SOLE 2 3,531
- ------------------------------------------------------------------------------------------------------------------------------------
Hanson PLC - ADR COM 411352305 3,828 87 SHR SOLE 1 87
- ------------------------------------------------------------------------------------------------------------------------------------
HARMAN INTL INDS INC COM 413086109 2,646,000 72,000 SHR SOLE 2 72,000
- ------------------------------------------------------------------------------------------------------------------------------------
ITT Hartford Group Inc. COM 416515104 8,863 156 SHR SOLE 1 156
- ------------------------------------------------------------------------------------------------------------------------------------
HEALTHCARE SERVICES GROUP COM 421906108 1,296,750 136,500 SHR SOLE 2 136,500
- ------------------------------------------------------------------------------------------------------------------------------------
HEALTH CARE & RETIREMENT COM 421937103 13,117,187 575,000 SHR SOLE 2 575,000
- ------------------------------------------------------------------------------------------------------------------------------------
HEALTHPLAN SERVICES COM 421959107 847,500 120,000 SHR SOLE 2 120,000
- ------------------------------------------------------------------------------------------------------------------------------------
Heilig-Meyers Company COM 422893107 5,187 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
HJ HEINZ CO COM 423074103 1,593,505 33,636 SHR SOLE 1,2 5,500 28,136
- ------------------------------------------------------------------------------------------------------------------------------------
Helmerich & Payne COM 423452101 6,806 300 SHR SOLE 1 300
- ------------------------------------------------------------------------------------------------------------------------------------
HERSHEY FOODS CORP. COM 427866108 27,357,063 488,500 SHR SOLE 2 488,500
- ------------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO COM 428236103 2,576,466 37,994 SHR SOLE 1,2 11,430 26,564
- ------------------------------------------------------------------------------------------------------------------------------------
Highwoods Properties Inc. COM 431284108 5,160 219 SHR SOLE 1 219
- ------------------------------------------------------------------------------------------------------------------------------------
HILLENBRAND INDUSTRIES COM 431573104 6,573,407 142,320 SHR SOLE 2 142,320
- ------------------------------------------------------------------------------------------------------------------------------------
HITACHI LTD - SPONS ADR COM 433578507 71,804 987 SHR SOLE 2 987
- ------------------------------------------------------------------------------------------------------------------------------------
Home Depot Inc. COM 437076102 2,888,655 46,377 SHR SOLE 1,2 15,100 31,277
- ------------------------------------------------------------------------------------------------------------------------------------
HOME PROPERTIES OF NY INC COM 437306103 52,609 2,275 SHR SOLE 2 2,275
- ------------------------------------------------------------------------------------------------------------------------------------
HORACE MANN EDUCATORS CO COM 440327104 3,153,500 136,000 SHR SOLE 2 136,000
- ------------------------------------------------------------------------------------------------------------------------------------
IRT PROPERTY CO COM 450058102 17,538 1,990 SHR SOLE 2 1,990
- ------------------------------------------------------------------------------------------------------------------------------------
IDACORP INC COM 451107106 64,764 2,200 SHR SOLE 2 2,200
- ------------------------------------------------------------------------------------------------------------------------------------
Illinois Tool Works COM 452308109 12,375 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
ILLINOVA CORP COM 452317100 16,950 800 SHR SOLE 2 800
- ------------------------------------------------------------------------------------------------------------------------------------
IMATION CORP COM 45245A107 660 40 SHR SOLE 2 40
- ------------------------------------------------------------------------------------------------------------------------------------
Imtec Inc. COM 452909104 1,200 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
Imperial Tobacco Group ADR COM 453142101 3,544 175 SHR SOLE 1 175
- ------------------------------------------------------------------------------------------------------------------------------------
INCOME FD OF AMERICA COM 453320103 5,006 293 SHR SOLE 2 293
- ------------------------------------------------------------------------------------------------------------------------------------
Indiana Energy Inc. COM 454707100 5,246 277 SHR SOLE 1 277
- ------------------------------------------------------------------------------------------------------------------------------------
ING GROEP NV SPON ADR COM 456837103 91,966 1,674 SHR SOLE 2 1,674
- ------------------------------------------------------------------------------------------------------------------------------------
INTEL CORP COM 458140100 25,606,749 215,045 SHR SOLE 1,2 189,550 25,495
- ------------------------------------------------------------------------------------------------------------------------------------
IBM COM 459200101 66,595,839 375,717 SHR SOLE 1,2 373,250 2,467
- ------------------------------------------------------------------------------------------------------------------------------------
International Paper COM 460146103 76,949 1,824 SHR SOLE 1 1,824
- ------------------------------------------------------------------------------------------------------------------------------------
SAN PAOLO - IMI SPA SPON ADR COM 465224103 2,067,360 64,605 SHR SOLE 2 64,605
- ------------------------------------------------------------------------------------------------------------------------------------
JDN Realty Corp. COM 465917102 8,944 450 SHR SOLE 1 450
- ------------------------------------------------------------------------------------------------------------------------------------
JEFFERSON PILOT CORP COM 475070108 38,095,825 562,300 SHR SOLE 2 562,300
- ------------------------------------------------------------------------------------------------------------------------------------
JOHNSON & JOHNSON COM 478160104 60,603,305 647,007 SHR SOLE 1,2 632,735 14,272
- ------------------------------------------------------------------------------------------------------------------------------------
JONES PHARMA INC. COM 480236108 764,500 22,000 SHR SOLE 2 22,000
- ------------------------------------------------------------------------------------------------------------------------------------
KLA TENCOR CORP. COM 482480100 262,237 5,400 SHR SOLE 2 5,400
- ------------------------------------------------------------------------------------------------------------------------------------
KAUFMAN & BROAD HOME CORP COM 486168107 15,794 700 SHR SOLE 2 700
- ------------------------------------------------------------------------------------------------------------------------------------
Kaydon Corporation COM 486587108 5,787 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
Kellogg Co. COM 487836108 33,812 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
KeyCorp COM 493267108 1,345,693 44,394 SHR SOLE 1 9,640 34,754
- ------------------------------------------------------------------------------------------------------------------------------------
Kilroy Realty Corp. COM 49427F108 13,079 638 SHR SOLE 1 638
- ------------------------------------------------------------------------------------------------------------------------------------
KIMBERLY-CLARK CORP. COM 494368103 46,194,954 963,650 SHR SOLE 2 963,650
- ------------------------------------------------------------------------------------------------------------------------------------
KIMCO REALTY CORP COM 49446R109 73,566 1,995 SHR SOLE 2 1,995
- ------------------------------------------------------------------------------------------------------------------------------------
Kinder Morgan Energy Partners COM 494550106 51,937 1,500 SHR SOLE 1 1,500
- ------------------------------------------------------------------------------------------------------------------------------------
KIRIN BREWERY CO - UNSP ADR COM 497350207 88,128 768 SHR SOLE 2 768
- ------------------------------------------------------------------------------------------------------------------------------------
KYOCERA CORP - SPONS ADR COM 501556203 69,255 1,316 SHR SOLE 2 1,316
- ------------------------------------------------------------------------------------------------------------------------------------
Lakehead Pipe Line Partners, L.P. COM 511557100 75,375 1,675 SHR SOLE 1 1,675
- ------------------------------------------------------------------------------------------------------------------------------------
LANDS END DIRECT MERCHANTS COM 515086106 4,613,089 133,230 SHR SOLE 2 133,230
- ------------------------------------------------------------------------------------------------------------------------------------
LAWTER INTERNATIONAL INC. COM 520786104 910,000 130,000 SHR SOLE 2 130,000
- ------------------------------------------------------------------------------------------------------------------------------------
Liberty Property Trust COM 531172104 671,615 32,367 SHR SOLE 1,2 23,537 8,830
- ------------------------------------------------------------------------------------------------------------------------------------
ELI LILLY & CO COM 532457108 254,625 3,000 SHR SOLE 1,2 2,200 800
- ------------------------------------------------------------------------------------------------------------------------------------
Lubrizol Corp. COM 549271104 8,505 378 SHR SOLE 1 378
- ------------------------------------------------------------------------------------------------------------------------------------
LUCENT TECH INC COM 549463107 713,448 6,606 SHR SOLE 1,2 834 5,772
- ------------------------------------------------------------------------------------------------------------------------------------
MCI WORLDCOM INC. COM 55268B106 11,348,934 128,146 SHR SOLE 1 127,125 1,021
- ------------------------------------------------------------------------------------------------------------------------------------
MRS Technology Inc. COM 553476102 1 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
MACK-CALI REALTY CORP COM 554489104 102,519 3,490 SHR SOLE 2 3,490
- ------------------------------------------------------------------------------------------------------------------------------------
MARIOTT INT'L INC., CL A COM 571903202 54,913,995 1,633,130 SHR SOLE 2 1,633,130
- ------------------------------------------------------------------------------------------------------------------------------------
Mattel, Inc. COM 577081102 3,242 130 SHR SOLE 1 130
- ------------------------------------------------------------------------------------------------------------------------------------
MAY DEPARTMENT STORES INC. COM 577778103 30,104,338 769,440 SHR SOLE 2 769,440
- ------------------------------------------------------------------------------------------------------------------------------------
MCCORMICK & CO.,INC. COM 579780206 27,987,320 965,080 SHR SOLE 2 965,080
- ------------------------------------------------------------------------------------------------------------------------------------
McDonald's Corp. COM 580135101 6,525 144 SHR SOLE 1 144
- ------------------------------------------------------------------------------------------------------------------------------------
MCGRAW HILL,INC. COM 580645109 52,127,669 956,471 SHR SOLE 1,2 951,010 5,461
- ------------------------------------------------------------------------------------------------------------------------------------
McKesson HBOC Inc. COM 581557105 13,200 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
MECH Financial, Inc. COM 583685102 12,650 400 SHR SOLE 1 400
- ------------------------------------------------------------------------------------------------------------------------------------
MEDIAONE GROUP INC COM 58440J104 37,111 585 SHR SOLE 2 585
- ------------------------------------------------------------------------------------------------------------------------------------
Media Logic COM 58441B100 - 10,000 SHR SOLE 1 10,000
- ------------------------------------------------------------------------------------------------------------------------------------
Meditrust SBI COM 58501T306 6,716 540 SHR SOLE 1 540
- ------------------------------------------------------------------------------------------------------------------------------------
MEDTRONIC INC COM 585055106 809,031 11,270 SHR SOLE 2 11,270
- ------------------------------------------------------------------------------------------------------------------------------------
MENTOR CORP. COM 587188103 2,775,938 189,000 SHR SOLE 2 189,000
- ------------------------------------------------------------------------------------------------------------------------------------
MERCANTILE BANKSHARES COM 587405101 5,592,957 151,161 SHR SOLE 1,2 136,900 14,261
- ------------------------------------------------------------------------------------------------------------------------------------
MERCK & CO INC COM 589331107 2,134,209 26,636 SHR SOLE 1,2 9,864 16,772
- ------------------------------------------------------------------------------------------------------------------------------------
METHODE ELECTRONICS INC CL A COM 591520200 3,498,256 314,450 SHR SOLE 2 314,450
- ------------------------------------------------------------------------------------------------------------------------------------
MICROSOFT CORP COM 594918104 722,915 8,066 SHR SOLE 1,2 7,250 816
- ------------------------------------------------------------------------------------------------------------------------------------
MIDAMERICAN ENERGY HOLDINGS CO COM 59562V107 5,616,240 200,580 SHR SOLE 2 200,580
- ------------------------------------------------------------------------------------------------------------------------------------
Millennium Chemicals COM 599903101 994 50 SHR SOLE 1 50
- ------------------------------------------------------------------------------------------------------------------------------------
MINNESOTA MINING & MFG CO COM 604059105 180,271 2,548 SHR SOLE 1,2 800 1,748
- ------------------------------------------------------------------------------------------------------------------------------------
MINNTECH CORP COM 604258103 1,641,250 130,000 SHR SOLE 2 130,000
- ------------------------------------------------------------------------------------------------------------------------------------
Mitsui Marine & Fire-Unsp ADR COM 606839207 7,092 140 SHR SOLE 1 140
- ------------------------------------------------------------------------------------------------------------------------------------
Mobile Climate Control Industries COM 606921310 636 1,000 SHR SOLE 1 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
MOBIL CORP COM 607059102 49,017,936 557,022 SHR SOLE 1,2 539,110 17,912
- ------------------------------------------------------------------------------------------------------------------------------------
MONARCH DENTAL CORP. COM 609044102 268,750 86,000 SHR SOLE 2 86,000
- ------------------------------------------------------------------------------------------------------------------------------------
ROBERT MONDAVI, A COM 609200100 1,578,363 44,150 SHR SOLE 2 44,150
- ------------------------------------------------------------------------------------------------------------------------------------
MONSANTO CO COM 611662107 643,125 14,000 SHR SOLE 1,2 4,000 10,000
- ------------------------------------------------------------------------------------------------------------------------------------
J.P. Morgan & Co. COM 616880100 848,820 6,880 SHR SOLE 1 6,880
- ------------------------------------------------------------------------------------------------------------------------------------
MOTOROLA INC COM 620076109 2,601,547 35,516 SHR SOLE 1,2 24,400 11,116
- ------------------------------------------------------------------------------------------------------------------------------------
NCR Corporation COM 62886E108 1,100 22 SHR SOLE 1 22
- ------------------------------------------------------------------------------------------------------------------------------------
NCR CORP COM 62886E112 350 7 SHR SOLE 2 7
- ------------------------------------------------------------------------------------------------------------------------------------
NIPSCO INDS COM 629140104 207,630 7,690 SHR SOLE 1,2 2,800 4,890
- ------------------------------------------------------------------------------------------------------------------------------------
Nabors Industries COM 629568106 837,225 46,033 SHR SOLE 1 9,900 36,133
- ------------------------------------------------------------------------------------------------------------------------------------
NATL AUSTRALIA BK LTD SPON ADR COM 632525408 111,549 1,236 SHR SOLE 2 1,236
- ------------------------------------------------------------------------------------------------------------------------------------
National City Corp. COM 635405103 86,287 1,300 SHR SOLE 1 1,300
- ------------------------------------------------------------------------------------------------------------------------------------
National Golf Properties Inc. COM 63623G109 11,044 502 SHR SOLE 1 502
- ------------------------------------------------------------------------------------------------------------------------------------
Network Associates Inc. COM 640938106 6,137 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
NESTLE SA SPONS ADR REPSTG REG SH COM 641069406 134,345 1,479 SHR SOLE 2 1,479
- ------------------------------------------------------------------------------------------------------------------------------------
New England Electric COM 644001109 67,124 1,384 SHR SOLE 1 1,384
- ------------------------------------------------------------------------------------------------------------------------------------
NEW PLAN EXCEL REALTY TR COM 648053106 16,214 845 SHR SOLE 2 845
- ------------------------------------------------------------------------------------------------------------------------------------
NEWS CORP LTD -SPONS ADR COM 652487703 78,824 2,672 SHR SOLE 2 2,672
- ------------------------------------------------------------------------------------------------------------------------------------
NEW CORP LTD -SPONS ADR PRF COM 652487802 27,500 1,000 SHR SOLE 2 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
Nicor Inc. COM 654086107 9,056 252 SHR SOLE 1 252
- ------------------------------------------------------------------------------------------------------------------------------------
NORDSTROM INC COM 655664100 4,088 100 SHR SOLE 2 100
- ------------------------------------------------------------------------------------------------------------------------------------
Norfolk-Southern COM 655844108 347,992 13,194 SHR SOLE 1 13,194
- ------------------------------------------------------------------------------------------------------------------------------------
NORSK HYDRO (ADR) COM 656531605 1,874,409 46,425 SHR SOLE 2 46,425
- ------------------------------------------------------------------------------------------------------------------------------------
Northeast Pennsylvania Financial COM 663905107 6,562 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHERN STS PWR CO MINN COM 665772109 97,385 4,200 SHR SOLE 2 4,200
- ------------------------------------------------------------------------------------------------------------------------------------
NORTHERN TELECOM LTD CANADA COM 665815106 18,637 300 SHR SOLE 1,2 200 100
- ------------------------------------------------------------------------------------------------------------------------------------
NOVARTIS AG - ADR COM 66987V109 104,304 1,286 SHR SOLE 2 1,286
- ------------------------------------------------------------------------------------------------------------------------------------
NOVELL INC COM 670006105 5,887,581 233,750 SHR SOLE 2 233,750
- ------------------------------------------------------------------------------------------------------------------------------------
NOVELLUS SYSTEM COM 670008101 2,104,673 38,180 SHR SOLE 2 38,180
- ------------------------------------------------------------------------------------------------------------------------------------
NOVO-NORDISK A/S - SPONS ADR COM 670100205 1,541,587 28,286 SHR SOLE 2 28,286
- ------------------------------------------------------------------------------------------------------------------------------------
Occidental Petroleum COM 674599105 15,858 881 SHR SOLE 1 881
- ------------------------------------------------------------------------------------------------------------------------------------
OCEANEERING INTERNATIONAL, INC COM 675232102 438,625 29,000 SHR SOLE 2 29,000
- ------------------------------------------------------------------------------------------------------------------------------------
Olsten Corporation COM 681385100 3,712 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
OMNICOM GROUP INC COM 681919106 71,149,146 890,060 SHR SOLE 2 890,060
- ------------------------------------------------------------------------------------------------------------------------------------
Oracle Corporation COM 68389X105 7,912 300 SHR SOLE 1 300
- ------------------------------------------------------------------------------------------------------------------------------------
Otter Tail Power Co. COM 689648103 4,187 105 SHR SOLE 1 105
- ------------------------------------------------------------------------------------------------------------------------------------
OUTBACK STEAKHOUSE INC. COM 689899102 6,216,441 189,815 SHR SOLE 2 189,815
- ------------------------------------------------------------------------------------------------------------------------------------
PNC FINANCIAL CORP COM 693475105 860,782 15,492 SHR SOLE 1,2 14,692 800
- ------------------------------------------------------------------------------------------------------------------------------------
PP&L Resources, Inc. COM 693499105 90,783 3,668 SHR SOLE 1 3,668
- ------------------------------------------------------------------------------------------------------------------------------------
PPG Industries COM 693506107 37,925 740 SHR SOLE 1 740
- ------------------------------------------------------------------------------------------------------------------------------------
PSCO Capital 7.60% due 6/30/38 CallPRD 69360R208 12,594 500 SHR SOLE 1 500
- ------------------------------------------------------------------------------------------------------------------------------------
PG&E Corporation COM 694308107 13,419 432 SHR SOLE 1 432
- ------------------------------------------------------------------------------------------------------------------------------------
PACIFICORP COM 695114108 7,978,367 462,514 SHR SOLE 1,2 462,014 500
- ------------------------------------------------------------------------------------------------------------------------------------
PARKER HANNIFIN CORP COM 701094104 40,558,747 1,184,197 SHR SOLE 1,2 1,179,360 4,837
- ------------------------------------------------------------------------------------------------------------------------------------
People's Bank, Bridgeport,CT COM 710198102 116,025 3,900 SHR SOLE 1 3,900
- ------------------------------------------------------------------------------------------------------------------------------------
PEOPLES ENERGY CORP COM 711030106 18,612 576 SHR SOLE 2 576
- ------------------------------------------------------------------------------------------------------------------------------------
Peoples Heritage Fin'l Group COM 711147108 10,116 562 SHR SOLE 1 562
- ------------------------------------------------------------------------------------------------------------------------------------
PEPSICO INC. COM 713448108 42,885,613 1,094,370 SHR SOLE 1,2 1,063,380 30,990
- ------------------------------------------------------------------------------------------------------------------------------------
PT Indosat (Persero) Tbk ADR COM 715680104 18,643 1,441 SHR SOLE 1 1,441
- ------------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COM 717081103 42,778,984 308,317 SHR SOLE 1,2 302,360 5,957
- ------------------------------------------------------------------------------------------------------------------------------------
Philadelphia Suburban Corp. COM 718009608 18,150 800 SHR SOLE 1 800
- ------------------------------------------------------------------------------------------------------------------------------------
PHILIP MORRIS COMPANIES COM 718154107 18,931,048 538,005 SHR SOLE 1,2 537,405 600
- ------------------------------------------------------------------------------------------------------------------------------------
PHILIPS ELECTRONICS NV COM 718337504 1,401,437 17,000 SHR SOLE 2 17,000
- ------------------------------------------------------------------------------------------------------------------------------------
PHOTRONICS INC COM 719405102 2,056,200 110,400 SHR SOLE 2 110,400
- ------------------------------------------------------------------------------------------------------------------------------------
PIER 1 IMPORTS INC/DEL COM 720279108 9,141 1,125 SHR SOLE 2 1,125
- ------------------------------------------------------------------------------------------------------------------------------------
PLEXUS CORPORATION COM 729132100 641,125 23,000 SHR SOLE 2 23,000
- ------------------------------------------------------------------------------------------------------------------------------------
PORTUGAL TELECOM SA - SPON ADR COM 737273102 2,026,898 46,263 SHR SOLE 2 46,263
- ------------------------------------------------------------------------------------------------------------------------------------
POST PROPERTIES INC COM 737464107 19,756 545 SHR SOLE 2 545
- ------------------------------------------------------------------------------------------------------------------------------------
Potomac Elec. Power COM 737679100 20,544 886 SHR SOLE 1 886
- ------------------------------------------------------------------------------------------------------------------------------------
POWERGEN PLC - SPONS ADR COM 738905405 84,579 1,864 SHR SOLE 2 1,864
- ------------------------------------------------------------------------------------------------------------------------------------
Premier National Bancorp COM 74053F107 3,300 220 SHR SOLE 1 220
- ------------------------------------------------------------------------------------------------------------------------------------
Costco Companies COM 74143W102 2,023,531 22,100 SHR SOLE 1,2 20,000 2,100
- ------------------------------------------------------------------------------------------------------------------------------------
PROCTER & GAMBLE COM 742718109 763,717 7,798 SHR SOLE 1,2 2,382 5,416
- ------------------------------------------------------------------------------------------------------------------------------------
Progressive Corp COM 743315103 21,525 150 SHR SOLE 1 150
- ------------------------------------------------------------------------------------------------------------------------------------
Queensway Finl Holdings COM 747931103 1,724 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
Qwest Communications Intl. COM 749121109 7,209 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
RWE AKTIENGESELLSCHAF - SP ADR COM 74975E345 94,413 2,133 SHR SOLE 2 2,133
- ------------------------------------------------------------------------------------------------------------------------------------
RAILTEX, INC. COM 750766107 500,500 44,000 SHR SOLE 2 44,000
- ------------------------------------------------------------------------------------------------------------------------------------
Rambus Inc. COM 750917106 19,312 300 SHR SOLE 1 300
- ------------------------------------------------------------------------------------------------------------------------------------
RALSTON-RALSTON PURINA GROUP COM 751277302 495 19 SHR SOLE 2 19
- ------------------------------------------------------------------------------------------------------------------------------------
Raytheon Co. - Cl. A COM 755111101 2,045,505 35,420 SHR SOLE 1,2 28,400 7,020
- ------------------------------------------------------------------------------------------------------------------------------------
RAYTHEON CO CLASS A COM 755111309 38,883,075 673,300 SHR SOLE 2 673,300
- ------------------------------------------------------------------------------------------------------------------------------------
Reliant Energy Inc. COM 75952J108 13,031 500 SHR SOLE 1 500
- ------------------------------------------------------------------------------------------------------------------------------------
REPSOL SA SPON ADR COM 76026T205 2,163,160 42,208 SHR SOLE 1,2 42,103 105
- ------------------------------------------------------------------------------------------------------------------------------------
Republic New York COM 760719104 13,837 300 SHR SOLE 1 300
- ------------------------------------------------------------------------------------------------------------------------------------
Reuters Group PLC COM 761324201 210,759 2,426 SHR SOLE 1 2,426
- ------------------------------------------------------------------------------------------------------------------------------------
RIO TINTO-SPONS ADR COM 767202104 61,565 1,106 SHR SOLE 2 1,106
- ------------------------------------------------------------------------------------------------------------------------------------
Royal Bk of Scotld Ser C 9.50% CallPRD 780097408 15,937 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
Royal Dutch Petrol. COM 780257705 983,060 18,905 SHR SOLE 1 18,905
- ------------------------------------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETROLEUM COM 780257804 24,422,840 469,670 SHR SOLE 2 469,670
- ------------------------------------------------------------------------------------------------------------------------------------
RUBY TUESDAY INC COM 781182100 6,609,103 380,380 SHR SOLE 2 380,380
- ------------------------------------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC COM 78387G103 911,565 19,318 SHR SOLE 1,2 7,260 12,058
- ------------------------------------------------------------------------------------------------------------------------------------
SLM HOLDING CORP COM 78442A109 77,655 1,860 SHR SOLE 2 1,860
- ------------------------------------------------------------------------------------------------------------------------------------
Safeco Corporation COM 786429100 12,131 300 SHR SOLE 1 300
- ------------------------------------------------------------------------------------------------------------------------------------
ST PAUL COMPANIES INC COM 792860108 12,425 400 SHR SOLE 2 400
- ------------------------------------------------------------------------------------------------------------------------------------
SARA LEE CORP. COM 803111103 38,450,858 1,553,570 SHR SOLE 2 1,553,570
- ------------------------------------------------------------------------------------------------------------------------------------
SAWTEK INC COM 805468105 6,708,825 198,780 SHR SOLE 2 198,780
- ------------------------------------------------------------------------------------------------------------------------------------
SBARRO, INC COM 805844107 3,816,000 144,000 SHR SOLE 2 144,000
- ------------------------------------------------------------------------------------------------------------------------------------
SCANA Corp. COM 805898103 8,675 400 SHR SOLE 1 400
- ------------------------------------------------------------------------------------------------------------------------------------
SCHERING PLOUGH CORP COM 806605101 22,839,540 412,984 SHR SOLE 1,2 383,690 29,294
- ------------------------------------------------------------------------------------------------------------------------------------
SCHLUMBERGER LTD. COM 806857108 23,807,271 395,552 SHR SOLE 1,2 368,300 27,252
- ------------------------------------------------------------------------------------------------------------------------------------
Charles Schwab Corp. COM 808513105 9,612 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
SEARS ROEBUCK & CO COM 812387108 90,374 2,000 SHR SOLE 2 2,000
- ------------------------------------------------------------------------------------------------------------------------------------
Security Nat'l Corp. Iowa COM 814784104 200,265 3,081 SHR SOLE 2 3,081
- ------------------------------------------------------------------------------------------------------------------------------------
SEKISUI HOUSES-UNSPON ADR COM 816078208 90,220 848 SHR SOLE 2 848
- ------------------------------------------------------------------------------------------------------------------------------------
SHELL TRANSPORT AND TRADING COM 822703609 2,623,603 64,581 SHR SOLE 2 64,581
- ------------------------------------------------------------------------------------------------------------------------------------
SHERWIN-WILLIAMS COM 824348106 35,696,813 1,269,220 SHR SOLE 1,2 1,266,820 2,400
- ------------------------------------------------------------------------------------------------------------------------------------
SIMON PROPERTY GROUP INC COM 828806109 45,684 1,665 SHR SOLE 2 1,665
- ------------------------------------------------------------------------------------------------------------------------------------
SMART & FINAL, INC. COM 831683107 740,625 79,000 SHR SOLE 2 79,000
- ------------------------------------------------------------------------------------------------------------------------------------
SMITH INTERNATIONAL COM 832110100 9,734,400 243,360 SHR SOLE 2 243,360
- ------------------------------------------------------------------------------------------------------------------------------------
SMITHKLINE BEECHAM - SPON ADR COM 832378301 1,518,303 21,235 SHR SOLE 2 21,235
- ------------------------------------------------------------------------------------------------------------------------------------
SOCIETE GENERALE - SPONS ADR COM 83364L109 123,754 3,220 SHR SOLE 2 3,220
- ------------------------------------------------------------------------------------------------------------------------------------
SODEXHO MARRIOTT SERVICES INC. COM 833793102 4,057,016 183,887 SHR SOLE 2 183,887
- ------------------------------------------------------------------------------------------------------------------------------------
SOLUTIA INC COM 834376105 348 20 SHR SOLE 2 20
- ------------------------------------------------------------------------------------------------------------------------------------
SOVEREIGN BANCORP INC COM 845905108 150,014 12,246 SHR SOLE 1,2 11,746 500
- ------------------------------------------------------------------------------------------------------------------------------------
SPIEKER PROPERTIES INC COM 848497103 58,691 1,665 SHR SOLE 2 1,665
- ------------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP (FON GROUP) COM 852061100 279,558 2,849 SHR SOLE 1,2 1,000 1,849
- ------------------------------------------------------------------------------------------------------------------------------------
SPRINT CORP (PCS GROUP) COM 852061506 63,102 1,424 SHR SOLE 1,2 500 924
- ------------------------------------------------------------------------------------------------------------------------------------
Standard Microsystems COM 853626109 2,166 275 SHR SOLE 1 275
- ------------------------------------------------------------------------------------------------------------------------------------
Staples Inc. COM 855030102 76,434 2,325 SHR SOLE 1 2,325
- ------------------------------------------------------------------------------------------------------------------------------------
STERLING COMMERCE COM 859205106 6,788,063 220,750 SHR SOLE 2 220,750
- ------------------------------------------------------------------------------------------------------------------------------------
SUMMIT BANCORP COM 866005101 255,450 6,550 SHR SOLE 1,2 1,500 5,050
- ------------------------------------------------------------------------------------------------------------------------------------
Sun Microsystems COM 866810104 15,633 125 SHR SOLE 1 125
- ------------------------------------------------------------------------------------------------------------------------------------
SUPERVALUE INC COM 868536103 75,570 3,664 SHR SOLE 2 3,664
- ------------------------------------------------------------------------------------------------------------------------------------
Sysco Corp. COM 871829107 263,124 10,000 SHR SOLE 1,2 9,000 1,000
- ------------------------------------------------------------------------------------------------------------------------------------
TECO Energy COM 872375100 50,244 2,528 SHR SOLE 1 2,528
- ------------------------------------------------------------------------------------------------------------------------------------
TJX COMPANIES INC COM 872540109 160,820 4,730 SHR SOLE 2 4,730
- ------------------------------------------------------------------------------------------------------------------------------------
Talisman Energy Inc. COM 87425E103 4,300 200 SHR SOLE 1 200
- ------------------------------------------------------------------------------------------------------------------------------------
TAUBMAN CENTERS INC COM 876664103 43,181 3,525 SHR SOLE 2 3,525
- ------------------------------------------------------------------------------------------------------------------------------------
Telecom Argentina SA-SP ADR COM 879273209 24,063 877 SHR SOLE 1 877
- ------------------------------------------------------------------------------------------------------------------------------------
Telecom New Zealand ADS COM 879278208 23,400 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
TELECOM ITALIA SPA SPON ADR COM 87927W106 2,712,393 25,987 SHR SOLE 2 25,987
- ------------------------------------------------------------------------------------------------------------------------------------
TELEFONICA DE ESPANA SA SPONS ADR COM 879382208 518,665 4,060 SHR SOLE 1,2 2,052 2,008
- ------------------------------------------------------------------------------------------------------------------------------------
Telefonica De Peru-Spon ADR COM 879384105 3,060 240 SHR SOLE 1 240
- ------------------------------------------------------------------------------------------------------------------------------------
TELEFONOS DE MEXICO COM 879403780 1,801,250 27,500 SHR SOLE 2 27,500
- ------------------------------------------------------------------------------------------------------------------------------------
TETRA TECHNOLOGIES COM 88162F105 1,696,950 251,400 SHR SOLE 2 251,400
- ------------------------------------------------------------------------------------------------------------------------------------
TEXACO INC COM 881694103 1,600,237 28,198 SHR SOLE 1,2 8,180 20,018
- ------------------------------------------------------------------------------------------------------------------------------------
THERMO ELECTRON CORP COM 883556102 10,172 750 SHR SOLE 2 750
- ------------------------------------------------------------------------------------------------------------------------------------
Thermedics Detection COM 88355E109 819 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
THOMAS & BETTS CORP COM 884315102 60,099 1,600 SHR SOLE 2 1,600
- ------------------------------------------------------------------------------------------------------------------------------------
3COM CORP COM 885535104 4,662 200 SHR SOLE 1,2 100 100
- ------------------------------------------------------------------------------------------------------------------------------------
Tidewater Inc. COM 886423102 2,587 100 SHR SOLE 1 100
- ------------------------------------------------------------------------------------------------------------------------------------
TIME WARNER INC COM 887315109 3,096,799 43,600 SHR SOLE 1,2 39,500 4,100
- ------------------------------------------------------------------------------------------------------------------------------------
Torchmark Corporation COM 891027104 28,779 910 SHR SOLE 1 910
- ------------------------------------------------------------------------------------------------------------------------------------
TRICON GLOBAL RESTAURANTS COM 895953107 33,720 480 SHR SOLE 1,2 20 460
- ------------------------------------------------------------------------------------------------------------------------------------
TriNet Corporate Realty Trust, Inc.COM 896287109 5,176 204 SHR SOLE 1 204
- ------------------------------------------------------------------------------------------------------------------------------------
TRUE NORTH COMMUNICATION COM 897844106 6,509,798 231,620 SHR SOLE 2 231,620
- ------------------------------------------------------------------------------------------------------------------------------------
TYCO INTERNATIONAL LTD. COM 902124106 2,414,459 33,651 SHR SOLE 2 33,651
- ------------------------------------------------------------------------------------------------------------------------------------
USX - Marathon Group COM 902905827 4,812 175 SHR SOLE 1 175
- ------------------------------------------------------------------------------------------------------------------------------------
UST INC COM 902911106 1,368,689 52,390 SHR SOLE 2 52,390
- ------------------------------------------------------------------------------------------------------------------------------------
UNIFIRST CORP COM 904708104 3,591,250 170,000 SHR SOLE 2 170,000
- ------------------------------------------------------------------------------------------------------------------------------------
UNIGATE PLC - UNSPONS ADR COM 904750403 73,022 10,292 SHR SOLE 2 10,292
- ------------------------------------------------------------------------------------------------------------------------------------
UNILEVER N V (ADR) COM 904784501 3,089,808 46,507 SHR SOLE 2 46,507
- ------------------------------------------------------------------------------------------------------------------------------------
UNICOM CORP COM 904911104 80,144 2,192 SHR SOLE 2 2,192
- ------------------------------------------------------------------------------------------------------------------------------------
UNION CARBIDE CORP COM 905581104 61,004 1,350 SHR SOLE 2 1,350
- ------------------------------------------------------------------------------------------------------------------------------------
UNION PACIFIC CORP COM 907818108 42,424,440 793,908 SHR SOLE 1,2 786,160 7,748
- ------------------------------------------------------------------------------------------------------------------------------------
Union Pacific Resources COM 907834105 51,894 4,370 SHR SOLE 1 4,370
- ------------------------------------------------------------------------------------------------------------------------------------
UNITED DOMINION REALITY TRUST COM 910197102 18,860 1,840 SHR SOLE 2 1,840
- ------------------------------------------------------------------------------------------------------------------------------------
U.S. Filter Corp. COM 911843209 18,375 600 SHR SOLE 1 600
- ------------------------------------------------------------------------------------------------------------------------------------
US WEST INC COM 91273H101 35,845 651 SHR SOLE 2 651
- ------------------------------------------------------------------------------------------------------------------------------------
US West Inc. COM 912889102 97,020 1,762 SHR SOLE 1 1,762
- ------------------------------------------------------------------------------------------------------------------------------------
MediaOne Group Inc. COM 912889201 44,850 707 SHR SOLE 1 707
- ------------------------------------------------------------------------------------------------------------------------------------
United Water Resources COM 913190104 83,000 4,000 SHR SOLE 1 4,000
- ------------------------------------------------------------------------------------------------------------------------------------
UNITRODE CORP COM 913283107 411,438 29,000 SHR SOLE 2 29,000
- ------------------------------------------------------------------------------------------------------------------------------------
Unocal Corporation COM 915289102 82,969 2,250 SHR SOLE 1 2,250
- ------------------------------------------------------------------------------------------------------------------------------------
Vertex Pharmaceuticals COM 92532F100 73,225 2,900 SHR SOLE 1 2,900
- ------------------------------------------------------------------------------------------------------------------------------------
VOLVO AB - SPON ADR COM 928856400 52,529 2,035 SHR SOLE 2 2,035
- ------------------------------------------------------------------------------------------------------------------------------------
Vulcan Materials Co. COM 929160109 86,137 2,085 SHR SOLE 1 2,085
- ------------------------------------------------------------------------------------------------------------------------------------
Wachovia Corporation COM 929771103 8,525 105 SHR SOLE 1 105
- ------------------------------------------------------------------------------------------------------------------------------------
WADDELL & REED FINANCIAL COM 930059100 3,834,935 187,070 SHR SOLE 2 187,070
- ------------------------------------------------------------------------------------------------------------------------------------
WADDELL & REED FINANCIAL COM 930059209 874,500 44,000 SHR SOLE 2 44,000
- ------------------------------------------------------------------------------------------------------------------------------------
WAL-MART STORES INC COM 931142103 1,979,264 21,470 SHR SOLE 1,2 18,240 3,230
- ------------------------------------------------------------------------------------------------------------------------------------
Warner-Lambert COM 934488107 375,969 5,675 SHR SOLE 1 5,675
- ------------------------------------------------------------------------------------------------------------------------------------
WASHINGTON REIT COM 939653101 21,042 1,290 SHR SOLE 2 1,290
- ------------------------------------------------------------------------------------------------------------------------------------
WEINGARTEN REALTY INVST COM 948741103 21,596 545 SHR SOLE 2 545
- ------------------------------------------------------------------------------------------------------------------------------------
WELLS FARGO COM 949746101 178,749 5,098 SHR SOLE 1,2 1,000 4,098
- ------------------------------------------------------------------------------------------------------------------------------------
Wendy's International, Inc. COM 950590109 6,455 227 SHR SOLE 1 227
- ------------------------------------------------------------------------------------------------------------------------------------
WESTERN INVT R/E TR COM 958468100 17,015 1,640 SHR SOLE 2 1,640
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WET SEAL INCORPORATED CL A COM 961840105 7,695,813 208,700 SHR SOLE 2 208,700
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WHOLE FOODS MARKET INC COM 966837106 2,028,125 59,000 SHR SOLE 2 59,000
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WILLIAMS COS INC COM 969457100 23,700 600 SHR SOLE 2 600
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WILMINGTON TRUST CORP COM 971807102 1,828,000 32,000 SHR SOLE 2 32,000
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Wisconsin Energy COM 976657106 289,997 11,127 SHR SOLE 1 11,127
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WOLVERINE WORLD WIDE INC COM 978097103 2,850 300 SHR SOLE 2 300
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WORTHINGTON FOODS INC. COM 981809106 830,375 73,000 SHR SOLE 2 73,000
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Wrigley (Wm.) Jr. Co. COM 982526105 13,566 150 SHR SOLE 1 150
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Xerox Corporation COM 984121103 104,771 2,010 SHR SOLE 1 2,010
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YPF S A - SPON ADR COM 984245100 1,934,782 61,300 SHR SOLE 2 61,300
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DAIMLERCHRYSLER AG COM D1668R123 1,126,203 13,124 SHR SOLE 1,2 13,000 124
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RenaissanceRe Holdings COM G7496G103 10,481 300 SHR SOLE 1 300
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</TABLE>
