UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 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
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Address: One National Life Drive
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Montpelier, VT 05604
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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
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Title: Assistant Controller
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Phone: 802-229-7433
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Signature, Place, and Date of Signing:
/s/ Joyce B. LaRosa Montpelier, Vermont February 10, 2000
---------------------------- ------------------------ -----------------
[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
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Form 13F Information Table Entry Total: 623
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Form 13F Information Table Value Total: $ 2,943,676
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(thousands)
List of other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
--- -------------------- ----
01 28- * NL Capital Management, Inc.
02 28-3768 Sentinel Advisors Company
03 28- * National Life Investment Management, Inc.
* To be assigned
<PAGE>
<TABLE>
<CAPTION>
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- -------------- -------------- ----- -------- ------- --- ---- ---------- -------- ---- ------- ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AAR CORP COM 000361105 2117 118000 SHR SOLE 2 118000
ADC TELECOMUNICATIONS COM 000886101 80 1100 SHR SOLE 2 1100
ABM INDUSTRIES INC COM 000957100 917 45000 SHR SOLE 2 45000
AFLAC INC. COM 001055102 1368 29000 SHR SOLE 2 29000
A T & T CORP COM 001957109 34477 679713 SHR SOLE 1,2 679713
ABBOTT LABORATORIES COM 002824100 1435 39497 SHR SOLE 1,2 39497
ACXIOM CORP. COM 005125109 3552 148000 SHR SOLE 2 148000
ADELPHIA COMMUNICATIONS PFD 006848303 722 6500 SHR SOLE 2 6500
ADMINISTAFF COM 007094105 1361 45000 SHR SOLE 2 45000
ADOBE SYSTEMS COM 00724F101 63 944 SHR SOLE 2 944
AETNA COM 008117103 11687 209400 SHR SOLE 1,2 209400
AFFILIATED COMPUTER COM 008190100 6177 135760 SHR SOLE 2 135760
AIR EXPRESS INTL. CORP COM 009104100 6398 198000 SHR SOLE 2 198000
AKZO NOBEL NV ADR 010199305 81 1627 SHR SOLE 2 1627
ALBERTO CULVER CO. CL A COM 013068200 3154 145000 SHR SOLE 2 145000
ALBERTSON'S, INC. COM 013104104 1243 38547 SHR SOLE 1,2 38547
ALCOA INC COM 013817101 41057 494700 SHR SOLE 1,2 494700
ALCATEL ALSTHOM ADR 013904305 1814 40300 SHR SOLE 2 40300
ALDILA INC COM 014384101 7 5000 SHR SOLE 2 5000
ALLERGAN, INC. COM 018490102 49 992 SHR SOLE 2 992
ALLSTATE COM 020002101 21824 909283 SHR SOLE 1,2 909283
ALLTEL CORP COM 020039103 2 24 SHR SOLE 2 24
AMAZON.COM INC COM 023135106 8 100 SHR SOLE 2 100
AMEREN CORP. COM 023608102 37 1133 SHR SOLE 1 1133
AMERICA ONLINE INC COM 02364J104 3881 51443 SHR SOLE 1,2 51443
AMER EXP CO COM 025816109 42855 257850 SHR SOLE 1,2 257850
AMERICAN GEN CORP COM 026351106 38691 510865 SHR SOLE 1,2 510865
AMERICAN GREETING COM 026375105 7 310 SHR SOLE 2 310
AMERICAN HOME PROD. COM 026609107 66534 1686855 SHR SOLE 1,2 1686855
AMERICAN INT'L. GROUP COM 026874107 54173 501018 SHR SOLE 1,2 501018
AMERICAN MOBIL WT 02755R103 75 1000 SHR SOLE 2 1000
AMERICAN WATER WORKS CO., INC. COM 030411102 2 100 SHR SOLE 1 100
AMERITECH CORP COM 030954101 82 1200 SHR SOLE 2 1200
AMERIGAS PARTNERS LP COM 030975106 21 1400 SHR SOLE 1 1400
AMGEN COM 031162100 1090 17706 SHR SOLE 1,2 17706
AMKOR TECHNOLOGY INC COM 031652100 77 3000 SHR SOLE 2 3000
AMRESCO INC COM 031909104 0 70 SHR SOLE 2 70
ANALOG DEVICES COM 032654105 6945 75080 SHR SOLE 1,2 75080
ANALYSTS INTERNATIONAL COM 032681108 1825 146000 SHR SOLE 2 146000
ANGLO AMERICAN PLC ADR 03485P102 18 275 SHR SOLE 2 275
ANHEUSER-BUSCH COS INC COM 035229103 252 3562 SHR SOLE 2 3562
ANTEC CORPORATION COM 03664P105 11 300 SHR SOLE 1 300
APCO ARGENTINA INC COM 037489101 93 3200 SHR SOLE 2 3200
APPLE COMPUTER INC COM 037833100 10 100 SHR SOLE 2 100
APPLEBEE'S INT'L. INC. COM 037899101 6785 230001 SHR SOLE 1,2 230001
APPLIED MATERIALS COM 038222105 6166 48835 SHR SOLE 2 48835
APPLIED POWER COM 038225108 7008 190870 SHR SOLE 2 190870
APTARGROUP COM 038336103 3342 133000 SHR SOLE 2 133000
ARCHER-DANIELS-MIDLAND CO COM 039483102 127 10503 SHR SOLE 2 10503
ARCHSTONE COMMUNITIES TRUST COM 039581103 43 2110 SHR SOLE 2 2110
ARIBA INC COM 04033V104 1419 8000 SHR SOLE 2 8000
AT HOME CORP SER A COM 045919107 25 600 SHR SOLE 2 600
ASTRAZENECA PLC ADR 046353108 130 3141 SHR SOLE 2 3141
ATLANTIC RICHFIELD COM 048825103 5 60 SHR SOLE 1 60
AUSTRALIA/NZ BANK GRP PFD 052528403 21 600 SHR SOLE 1 600
AUTOMATIC DATA PROCESSING COM 053015103 49139 911363 SHR SOLE 1,2 911363
AVALONBAY COMMUNITIES INC COM 053484101 4 109 SHR SOLE 2 109
AVERY DENNISON CORP COM 053611109 65 896 SHR SOLE 2 896
AVIALL INC COM 05366B102 2 187 SHR SOLE 2 187
AVON PRODUCTS COM 054303102 58 1771 SHR SOLE 2 1771
BASF AG ADR 055262505 127 2463 SHR SOLE 2 2463
BCE INC. COM 05534B109 2633 29199 SHR SOLE 1 29199
BP AMOCO PLC ADR 055622104 957 16120 SHR SOLE 1,2 16120
BANQ NATIONALE DEPARIS PFD 05562EAA6 1157 12500 SHR SOLE 1 12500
BRE PROPERTIES CL A COM 05564E106 43 1940 SHR SOLE 2 1940
BSB BANCORP COM 055652101 19 1012 SHR SOLE 1 1012
BMC SOFTWARE INC COM 055921100 10524 131659 SHR SOLE 1,2 131659
BANCO SANTANDER CEN ADR 05964H105 130 10946 SHR SOLE 2 10946
BANK OF AMERICA CORP COM 060505104 26940 536472 SHR SOLE 1,2 536472
BANK OF NEW YORK COM 064057102 49813 1244924 SHR SOLE 1,2 1244924
BANC ONE CORP. COM 06423A103 13 401 SHR SOLE 1 401
BANKNORTH GROUP COM 06646L100 433 16202 SHR SOLE 1 16202
BARCLAYS BK PFD 06738C836 13 600 SHR SOLE 1 600
BARNES & NOBLE, INC COM 067774109 15 700 SHR SOLE 2 700
BARR LABORATORIES COM 068306109 1820 58000 SHR SOLE 2 58000
BAXTER INTERNATIONAL COM 071813109 16215 258139 SHR SOLE 1,2 258139
BAYER AG ADR 072730302 74 1766 SHR SOLE 2 1766
BECTON DICKINSON COM 075887109 9996 373600 SHR SOLE 1,2 373600
BED BATH & BEYOND COM 075896100 36 1030 SHR SOLE 2 1030
BELL ATLANTIC COM 077853109 1763 28646 SHR SOLE 1,2 28646
BELLSOUTH COM 079860102 1105 23610 SHR SOLE 1,2 23610
BEMIS CO.,INC. COM 081437105 4789 137330 SHR SOLE 2 137330
BEN & JERRY'S HOMEMADE CL A COM 081465106 2 100 SHR SOLE 1 100
BERKSHIRE HATHAWAY INC. CL B COM 084670207 273 149 SHR SOLE 1 149
BEST BUY INC COM 086516101 79 1573 SHR SOLE 2 1573
BESTFOODS COM 08658U101 49497 941151 SHR SOLE 1,2 941151
BIOGEN COM 090597105 2862 33860 SHR SOLE 2 33860
BIOMET INC. COM 090613100 60 1500 SHR SOLE 1 1500
H & R BLOCK COM 093671105 61 1400 SHR SOLE 1 1400
BOEING CO COM 097023105 11188 269244 SHR SOLE 1,2 269244
BRISTOL MYERS SQUIBB CO. COM 110122108 13447 209403 SHR SOLE 1,2 209403
BRITISH AIRWAYS ADR 110419306 1659 25768 SHR SOLE 2 25768
BRITISH AMERICAN TOB ADR 110448107 3 260 SHR SOLE 2 260
BRITISH TELECOM PLC ADR 111021408 2561 10740 SHR SOLE 2 10740
BROADCOM CORP - CL A COM 111320107 899 3300 SHR SOLE 2 3300
BUENOS AIRES EMB ADR 119424208 0 21 SHR SOLE 1,2 21
BURLINGTON NORTHERN SANTA FE CORCOM 12189T104 171 7050 SHR SOLE 1 7050
BURLINGTON RES INC COM 122014103 22567 682837 SHR SOLE 1,2 682837
BURR BROWN CORP. COM 122574106 2330 64500 SHR SOLE 2 64500
BUSH BOAKE ALLEN, INC. COM 123162109 3257 132600 SHR SOLE 2 132600
C COR ELECTRONICS COM 125010108 1149 15000 SHR SOLE 2 15000
C-CUBE MICROSYS INC COM 125015107 11522 185820 SHR SOLE 2 185820
C.H. ROBINSON WORLDWIDE COM 12541W100 7618 191650 SHR SOLE 2 191650
CSG HOLDINGS INC PFD 126304401 1061 9774 SHR SOLE 2 9774
CSX CORP COM 126408103 25 800 SHR SOLE 1,2 800
CTS CORP COM 126501105 8993 119320 SHR SOLE 2 119320
CABLE & WIRELESS PLC ADR 126830207 11 200 SHR SOLE 1 200
CABLE DESIGN TECH COM 126924109 3956 172000 SHR SOLE 2 172000
CABOT CORPORATION COM 127055101 144 7090 SHR SOLE 1 7090
CACI INTL COM 127190304 1652 73000 SHR SOLE 2 73000
CAL DIVE INTERNATIONAL COM 127914109 4339 131020 SHR SOLE 2 131020
CAMBREX CORP COM 132011107 9780 284630 SHR SOLE 1,2 284630
CAMPBELL RESOURCES INC COM 134422104 0 266 SHR SOLE 2 266
CAMPBELL SOUP COM 134429109 267 6889 SHR SOLE 1,2 6889
CANON INC SPON ADR 138006309 165 4090 SHR SOLE 2 4090
CARBO CERAMICS COM 140781105 809 37000 SHR SOLE 2 37000
CARDINAL HEALTH INC COM 14149Y108 48 995 SHR SOLE 2 995
CARLTON COMM PLC ADR 142872209 84 1725 SHR SOLE 2 1725
CARRAMERICA REALTY CORP COM 144418100 78 3680 SHR SOLE 2 3680
CASE CORP COM 14743R103 15 270 SHR SOLE 2 270
CASEY'S GENERAL STORES COM 147528103 1524 146000 SHR SOLE 2 146000
CATALINA MARKETING CORP COM 148867104 4283 37000 SHR SOLE 2 37000
CATERPILLAR INC. COM 149123101 9 200 SHR SOLE 1 200
CENTRAIS ELEC BRAS ADR 15234Q207 4 440 SHR SOLE 2 440
CENTRAIS GERADORAS DO SU ADR 15235B100 0 44 SHR SOLE 2 44
CENTURI INC. COM 156410102 0 3000 SHR SOLE 1 3000
CENTURYTEL, INC. COM 156700106 40 843 SHR SOLE 1 843
CHALONE WINE GROUP LTD COM 157639105 0 20 SHR SOLE 2 20
CHARTER COMMUNICATIONS COM 16117M107 1805 82500 SHR SOLE 2 82500
CHASE MANHATTAN CORP COM 16161A108 33644 433060 SHR SOLE 1,2 433060
CHATEAU COMMUNITIES COM 161726104 4443 171360 SHR SOLE 1,2 171360
CHEVRON CORP COM 166751107 29394 339350 SHR SOLE 1,2 339350
CHIQUITA BRANDS INTL COM 170032106 1 228 SHR SOLE 2 228
CHIRON CORP COM 170040109 1865 44000 SHR SOLE 2 44000
CHITTENDEN CORP. COM 170228100 102 3433 SHR SOLE 1 3433
CHUBB CORP COM 171232101 473 8400 SHR SOLE 1,2 8400
CIBER INC. COM 17163B102 3053 111000 SHR SOLE 2 111000
CINCINNATI FINANCIAL CORP. COM 172062101 81 2602 SHR SOLE 1 2602
CISCO SYSTEMS COM 17275R102 8713 81421 SHR SOLE 1,2 81421
CITIGROUP COM 172967101 52751 949606 SHR SOLE 1,2 949606
CITRIX SYSTEMS COM 177376100 86 700 SHR SOLE 2 700
COASTAL CORP COM 190441105 0 9 SHR SOLE 2 9
COCA-COLA CO. COM 191216100 1526 26202 SHR SOLE 1,2 26202
COLGATE-PALMOLIVE CO COM 194162103 291 4474 SHR SOLE 2 4474
THE COLONEL'S INT'L. COM 195405105 7 1000 SHR SOLE 1 1000
COMCAST CORP. CL A COM 200300101 19 400 SHR SOLE 1 400
COMCAST CL A SPECIAL NON-VOTING COM 200300200 18183 361700 SHR SOLE 1,2 361700
COMMUNITY BANCORP INC/VT COM 20343A101 3 308 SHR SOLE 1 308
CIA CERVEJARIA BRAHMA ADR 20440X103 7 490 SHR SOLE 2 490
COMPAQ COMPUTER COM 204493100 7516 277702 SHR SOLE 1,2 277702
COMPASS BANCSHARES COM 20449H109 134 6000 SHR SOLE 1 6000
COMPTEK RESEARCH INC COM 204682108 21 1600 SHR SOLE 2 1600
COMPUTER ASSOC INTL INC COM 204912109 20273 289833 SHR SOLE 1,2 289833
COMPUWARE CORP COM 205638109 100 2681 SHR SOLE 2 2681
COMVERSE TECHNOLOGY COM 205862402 83 570 SHR SOLE 2 570
CONNECTICUT LHT & PWR PFD 207597774 7 168 SHR SOLE 1 168
CONOCO INC. CLASS A COM 208251306 597 24115 SHR SOLE 1 24115
CONOCO INC CL B COM 208251405 29779 1197143 SHR SOLE 1,2 1197143
CONSOLIDATED EDISON INC COM 209115104 50 1424 SHR SOLE 2 1424
CORNING INC COM 219350105 372 2886 SHR SOLE 1,2 2886
CORUS GROUP PLC COM 22087M101 1961 75798 SHR SOLE 2 75798
COSTCO WHOLESALE CORP COM 22160K105 195 2140 SHR SOLE 1,2 2140
COUSINS PROPERTIES INC COM 222795106 79 2335 SHR SOLE 2 2335
COVANCE INC COM 222816100 2606 240995 SHR SOLE 1,2 240995
COX COMM INC CL A COM 224044107 411 8150 SHR SOLE 2 8150
GLOBAL CROSSING LTD. COM 228506500 80 1600 SHR SOLE 1 1600
CROWN RESOURCE CORP/COLO COM 228569109 1 500 SHR SOLE 2 500
CULLEN FROST BANKERS INC COM 229899109 592 23000 SHR SOLE 2 23000
CYPRESS SEMICOND CORP COM 232806109 6 200 SHR SOLE 2 200
DPL INC COM 233293109 46 2700 SHR SOLE 2 2700
DQE INC. COM 23329J104 26 747 SHR SOLE 1 747
DAI NIPPON PRINT ADR 233806207 81 464 SHR SOLE 2 464
DALLAS SEMICOND CORP COM 235204104 10550 164200 SHR SOLE 2 164200
DAYTON HUDSON CORP COM 239753106 1306 17750 SHR SOLE 1,2 17750
DEERE & CO. COM 244199105 52 1200 SHR SOLE 1 1200
DELIA'S INC. COM 246885107 1 100 SHR SOLE 1 100
DELL COMPUTER CORP COM 247025109 1003 19673 SHR SOLE 2 19673
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 4 278 SHR SOLE 2 278
DELUXE CORP COM COM 248019101 93 3349 SHR SOLE 2 3349
DEN DANSKE BANK ADR 248206203 62 548 SHR SOLE 2 548
DEUTSCHE BANK ADR 251525309 54 818 SHR SOLE 2 818
DEUTSCHE TELEKOM AG ADR 251566105 19 270 SHR SOLE 2 270
DEVELOPERS DIVERS REALTY CRP COM 251591103 33 2605 SHR SOLE 2 2605
DIAGNOSTIC PRODUCTS COM 252450101 539 22000 SHR SOLE 2 22000
DIEBOLD, INC. COM 253651103 13 544 SHR SOLE 1 544
DISNEY (WALT) COMPANY HOLDING COCOM 254687106 3304 112975 SHR SOLE 1,2 112975
DOLE FOOD CO COM 256605106 5 300 SHR SOLE 2 300
DOMINION RESOURCES COM 257470104 8 200 SHR SOLE 1 200
DONALDSON CO. COM 257651109 6160 256000 SHR SOLE 2 256000
DOUBLECLICK INC COM 258609304 2809 11100 SHR SOLE 2 11100
DOVER CORP COM 260003108 12337 271900 SHR SOLE 1,2 271900
DOW JONES & CO INC COM 260561105 46 677 SHR SOLE 2 677
DU PONT, E. I. COM 263534109 21133 321017 SHR SOLE 1,2 321017
DUFF & PHELPS CREDIT RAT COM 26432F109 4536 51000 SHR SOLE 2 51000
DUKE ENERGY CORP COM 264399106 45754 912687 SHR SOLE 1,2 912687
DUKE REALTY INVESTMENTS INC COM 264411505 71 3750 SHR SOLE 2 3750
DUN & BRADSTREET COM 26483B106 37 1239 SHR SOLE 2 1239
DURA PHARM INC COM 26632S109 17 1200 SHR SOLE 2 1200
DYNATECH CORP COM 268140100 165 24500 SHR SOLE 2 24500
EMC CORP. COM 268648102 856 7836 SHR SOLE 2 7836
ENI SPA ADR 26874R108 1713 31080 SHR SOLE 2 31080
EAGLE USA AIRFREIGHT COM 270018104 7625 176750 SHR SOLE 2 176750
EASTGROUP PROPERTIES COM 277276101 64 3525 SHR SOLE 2 3525
EASTMAN KODAK CO. COM 277461109 86 1300 SHR SOLE 1 1300
ECOLAB INC COM 278865100 31 800 SHR SOLE 2 800
ELEC DATA SYST CORP COM 285661104 37427 559257 SHR SOLE 1,2 559257
ELF AQUITAINEADR ADR 286269105 10 140 SHR SOLE 2 140
EMERSON ELECTRIC COM 291011104 19857 346095 SHR SOLE 1,2 346095
EMPRESA NAC ELEC ADR 29244T101 8 595 SHR SOLE 2 595
ENDESA ADR 29258N107 2597 128690 SHR SOLE 2 128690
ENGELHARD CORP COM 292845104 9 505 SHR SOLE 2 505
ENHANCE FINANCIAL SERV G COM 293310108 1674 103000 SHR SOLE 2 103000
ENRON CORP COM 293561106 72705 1638592 SHR SOLE 1,2 1638592
ENTERGY CORP COM 29364G103 30 1150 SHR SOLE 1,2 1150
EQUIFAX COM 294429105 25 1052 SHR SOLE 2 1052
EQUITY OFFICE PROP TR COM 294741103 60 2466 SHR SOLE 2 2466
EQUITY RESIDENTIAL PROPS TR COM 29476L107 20 481 SHR SOLE 2 481
ETHAN ALLEN INT INC COM 297602104 8924 277565 SHR SOLE 2 277565
EXODUS COMMUNICATIONS INC. COM 302088109 9 100 SHR SOLE 1 100
EXPEDIA INC COM 302125109 963 27500 SHR SOLE 2 27500
EXXON MOBIL CORP COM 30231G102 86805 1077561 SHR SOLE 1,2 1077561
FPL GROUP COM 302571104 15446 360890 SHR SOLE 2 360890
FREDDIE MAC COM 313400301 75 1600 SHR SOLE 1 1600
FANNIE MAE COM 313586109 27419 439192 SHR SOLE 1,2 439192
FEDERAL REALTY INVS TR COM 313747206 16 845 SHR SOLE 2 845
FIFTH THIRD BANCORP COM 316773100 430 5863 SHR SOLE 1 5863
FILENET CORP COM 316869106 3672 144000 SHR SOLE 2 144000
FIRST NAT'L COMMUNITY BANCORP COM 32110M101 41 1210 SHR SOLE 1 1210
FIRST UNION CORP. COM 337358105 657 19950 SHR SOLE 1 19950
FIRST UNION REAL ESTATE COM 337400105 12 2468 SHR SOLE 2 2468
FIX-CORP INTL INC COM 33831C109 0 2500 SHR SOLE 2 2500
FLEET BOSTON FINANCIAL CORP. COM 339030108 61 1753 SHR SOLE 1 1753
FLORIDA PROGRESS CORP COM 341109106 19104 451500 SHR SOLE 1,2 451500
FORD MOTOR CO COM 345370100 53001 991798 SHR SOLE 1,2 991798
FORTUNE BRANDS INC COM 349631101 23474 710000 SHR SOLE 1,2 710000
FRANKLIN RESOURCES COM 354613101 42 1300 SHR SOLE 1 1300
FREEMARKETS INC COM 356602102 34 100 SHR SOLE 2 100
FREEPORT MCMORAN COPPER COM 35671D857 27 1258 SHR SOLE 2 1258
FRESENIUS MED CARE ADR 358029106 7 247 SHR SOLE 2 247
FRESENIUS NATL MED CARE PFD CL DPFD 358030203 0 236 SHR SOLE 2 236
FRONTIER INS GROUP INC COM 359081106 20 6000 SHR SOLE 2 6000
FUJI PHOTO FILM ADR 359586302 114 3080 SHR SOLE 2 3080
GS FINANCIAL CORP COM 362274102 6 510 SHR SOLE 2 510
G T E CORP. COM 362320103 69156 980165 SHR SOLE 1,2 980165
GAINSCO INC. COM 363127101 1 100 SHR SOLE 1 100
GALLAHER GROUP PLC ADR 363595109 5 300 SHR SOLE 2 300
GANNETT CO INC COM 364730101 3 40 SHR SOLE 2 40
GAP INC. COM 364760108 303 6597 SHR SOLE 1,2 6597
GARDNER DENVER INC. COM 365558105 768 46000 SHR SOLE 2 46000
GATEWAY COMPUTER COM 367626108 177 2455 SHR SOLE 2 2455
GENERAL ELECTRIC COM 369604103 55160 356404 SHR SOLE 1,2 356404
GENERAL GROWTH PPTYS INC COM 370021107 18 645 SHR SOLE 2 645
GENERAL INSTRUMENT COM 370120107 30957 364200 SHR SOLE 1,2 364200
GENERAL MILLS COM 370334104 180 5036 SHR SOLE 1,2 5036
GENERAL MOTORS CORP COM 370442105 44 600 SHR SOLE 2 600
GENESIS HEALTH VENTURES INC COM 371912106 1 300 SHR SOLE 2 300
GENZYME CORP COM 372917104 1935 43000 SHR SOLE 2 43000
GIGA-TRONICS INC COM 375175106 7 1000 SHR SOLE 2 1000
GILLETTE CO COM 375766102 17040 413537 SHR SOLE 1,2 413537
GLAXO PLC ADR ADR 37733W105 2106 37700 SHR SOLE 1,2 37700
GLOBAL CROSSING PFD 37932J301 1127 4000 SHR SOLE 2 4000
GLOBAL IND TECH INC COM 379335102 4 320 SHR SOLE 2 320
GLOBECOMM SYSTEMS INC COM 37956X103 67 3000 SHR SOLE 2 3000
B.F.GOODRICH COM 382388106 4647 168975 SHR SOLE 1,2 168975
W R GRACE & CO COM 38388F108 10 704 SHR SOLE 2 704
GRANITE STATE BANKSHARES COM 387472103 75 3750 SHR SOLE 1 3750
GREAT LAKES REIT INC COM 390752103 77 5167 SHR SOLE 2 5167
GREAT WESTERN FINL PFD 39141F203 36 1610 SHR SOLE 1 1610
GLOBALSTAR TELECOMMUNICATIONS COM 3930H1043 18 400 SHR SOLE 1 400
GROUPE DANONE ADR 399449107 106 2271 SHR SOLE 2 2271
GUIDANT CORP COM 401698105 108 2295 SHR SOLE 2 2295
GUILFORD PHARMECEUTICALS INC COM 401829106 5 300 SHR SOLE 2 300
HCC INSURANCE HOLDINGS COM 404132102 2888 219000 SHR SOLE 2 219000
HL&P TRUST PFD 404202202 26 1200 SHR SOLE 2 1200
HSBC HOLDINGS PLC ADR 404280307 2 35 SHR SOLE 2 35
HSBC HOLDINGS PLC ADR 404280406 184 2604 SHR SOLE 2 2604
HALLIBURTON CO COM 406216101 33070 822350 SHR SOLE 1,2 822350
HANCOCK FABRICS INC COM 409900107 0 33 SHR SOLE 2 33
HARMAN INTERNATIONAL IND COM 413086109 4995 89000 SHR SOLE 2 89000
HEALTHCARE SERVICES GROUP COM 421906108 956 136500 SHR SOLE 2 136500
H.J. HEINZ CO. COM 423074103 1273 31970 SHR SOLE 1,2 31970
HEWLETT PACKARD COM 428236103 26823 235475 SHR SOLE 1,2 235475
HILTON HOTELS CORP COM 432848109 27 2838 SHR SOLE 2 2838
HITACHI LTD ADR 433578507 205 1295 SHR SOLE 1,2 1295
HOME DEPOT COM 437076102 5965 85245 SHR SOLE 1,2 85245
HOME PROPERTIES OF NY INC COM 437306103 62 2275 SHR SOLE 2 2275
HONDA MOTOR CO LTD ADR 438128308 37 485 SHR SOLE 2 485
HONEYWELL INTERNATIONAL COM 438516106 1151 19975 SHR SOLE 1,2 19975
HOSPITALITY PROPERTIES TRUST COM 44106M102 4 200 SHR SOLE 2 200
HOUSEHOLD INTL INC COM 441815107 42 1153 SHR SOLE 2 1153
HUMAN GENOME S COM 444903108 6044 39550 SHR SOLE 2 39550
IBP INC COM 449223106 8 470 SHR SOLE 2 470
IDG BOOKS WORLDWIDE INC COM 449384106 671 58000 SHR SOLE 2 58000
IMS HEALTH INC COM 449934108 107 3938 SHR SOLE 1,2 3938
IRT PROPERTY CO COM 450058102 15 1990 SHR SOLE 2 1990
IDACORP INC COM 451107106 59 2200 SHR SOLE 2 2200
ILLINOIS TOOL WKS INC COM 452308109 79 1200 SHR SOLE 1,2 1200
ILLINOVA CORP COM 452317100 27 800 SHR SOLE 2 800
IMATION CORP COM 45245A107 1 40 SHR SOLE 2 40
IMTEC INC. COM 452909104 2 200 SHR SOLE 1 200
INCYTE PHARMAC COM 45337C102 4140 69000 SHR SOLE 2 69000
INDEPENDENCE COMMUNITY BANK COM 453414104 7 550 SHR SOLE 2 550
ING GROEP NV SPON ADR ADR 456837103 118 1968 SHR SOLE 2 1968
INKTOMI CORP COM 457277101 1154 13000 SHR SOLE 2 13000
INTEGRAL SYSTEMS INC/MD COM 45810H107 858 20802 SHR SOLE 2 20802
INTEL CORP COM 458140100 19993 242804 SHR SOLE 1,2 242804
INTERNAP NETWORK SERVICES CORP. COM 45885A102 17 100 SHR SOLE 1 100
IBM COM 459200101 48053 444768 SHR SOLE 1,2 444768
INTERNATIONAL PAPER COM 460146103 45546 807100 SHR SOLE 1,2 807100
INTERPUBLIC GROUP COS. COM 460690100 120 2088 SHR SOLE 2 2088
JDS UNIPHASE CORP COM 46612J101 6248 38696 SHR SOLE 2 38696
JACK IN THE BOX COM 466367109 1821 88000 SHR SOLE 2 88000
JACOBS ENGINEERING GROUP INC COM 469814107 19 600 SHR SOLE 2 600
JARDINE MATHESON HD ADR 471115303 7 1580 SHR SOLE 2 1580
JEFFERSON PILOT CORP COM 475070108 29404 430850 SHR SOLE 1,2 430850
JOHNSON & JOHNSON COM 478160104 48665 522361 SHR SOLE 1,2 522361
JONES PHARMA INC. COM 480236108 3518 81000 SHR SOLE 2 81000
JOSTENS INC. COM 481088102 4 169 SHR SOLE 2 169
KLA TENCOR CORP COM 482480100 2450 22000 SHR SOLE 2 22000
K-TROM INTL INC COM 482730108 20 1500 SHR SOLE 2 1500
K2 INC. COM 482732104 0 30 SHR SOLE 1 30
KANSAS CITY SOUTHERN IND COM 485170104 63 900 SHR SOLE 2 900
KELLOGG CO COM 487836108 124 4032 SHR SOLE 1,2 4032
KELLWOOD CO. COM 488044108 8 400 SHR SOLE 1 400
KEY ENERGY SERVICES INC. COM 492914106 421 81200 SHR SOLE 2 81200
KEYCORP COM 493267108 638 28856 SHR SOLE 1 28856
KEYSPAN ENERGY CORP COM 493375109 7 216 SHR SOLE 2 216
KEYSPAN CORPORATION COM 49337W100 10 432 SHR SOLE 2 432
KILROY REALTY CORP. COM 49427F108 22 999 SHR SOLE 1 999
KIMBERLY CLARK CORP COM 494368103 97584 1495566 SHR SOLE 1,2 1495566
KIMCO REALTY CORP COM 49446R109 3 75 SHR SOLE 2 75
KINDER MORGAN ENERGY PARTNERS COM 494550106 81 1950 SHR SOLE 1 1950
KOHL'S CORP COM 500255104 91 1258 SHR SOLE 2 1258
KONINKLIJKE PHILIPS ELEC COM 500472204 3166 23455 SHR SOLE 2 23455
KROGER CO COM 501044101 42648 2258838 SHR SOLE 1,2 2258838
KYOCERA CORP - SPONS ADR COM 501556203 392 1496 SHR SOLE 2 1496
LAKEHEAD PIPE LINE PARTNERS, L.PCOM 511557100 58 1675 SHR SOLE 1 1675
LANDS END DIRECT MERCHANTS COM 515086106 4633 133210 SHR SOLE 2 133210
LEXMARK INT'L GROUP INC. COM 529771107 89 979 SHR SOLE 2 979
LIBERTY PROPERTY TR COM 531172104 2015 82551 SHR SOLE 1,2 82551
ELI LILLY & CO COM 532457108 757 11360 SHR SOLE 1,2 11360
LINCOLN NATIONAL CORP. COM 534187109 24 600 SHR SOLE 1 600
LOCKHEED MARTIN CORP COM 539830109 4 195 SHR SOLE 2 195
LONE STAR INDS COM 542290408 1 18 SHR SOLE 2 18
LOWES COMPANIES COM 548661107 95 1600 SHR SOLE 2 1600
LUBRIZOIL CORP COM 549271104 11 370 SHR SOLE 2 370
LUCENT TECH INC COM 549463107 3218 42981 SHR SOLE 1,2 42981
LYCOS INC COM 550818108 1750 22000 SHR SOLE 2 22000
LYONDELL CHEMICAL CO COM 552078107 8 600 SHR SOLE 2 600
MBNA CORP COM 55262L100 166 6100 SHR SOLE 2 6100
MCI COMM CORP COM 552673105 15 248 SHR SOLE 2 248
MCI WORLDCOM INC COM 55268B106 736 9826 SHR SOLE 1,2 9826
MACK-CALI REALTY CORP COM 554489104 93 3490 SHR SOLE 2 3490
HCR MANOR CARE INC. COM 564055101 13602 851150 SHR SOLE 1,2 851150
MAPINFO CORP COM 565105103 202 5500 SHR SOLE 2 5500
MARIOTT INT'L INC., CL A COM 571903202 30442 964500 SHR SOLE 1,2 964500
MATSUSHITA ELEC IND ADR 576879209 18 65 SHR SOLE 2 65
MAYTAG CORP COM 578592107 31 655 SHR SOLE 2 655
MCCORMICK & CO INC COM 579780206 32507 1092710 SHR SOLE 1,2 1092710
MCDONALD'S CORP. COM 580135101 38 944 SHR SOLE 1 944
MCGRAW HILL CO COM 580645109 53676 871558 SHR SOLE 1,2 871558
MECH FINANCIAL, INC. COM 583685102 14 400 SHR SOLE 1 400
MEDIAONE GROUP INC COM 58440J104 88 1145 SHR SOLE 2 1145
MEDICIS PHARMACEUTICAL COM 584690309 2213 52000 SHR SOLE 2 52000
MEDTRONIC INC COM 585055106 356 9778 SHR SOLE 2 9778
MENTOR CORP MN COM 587188103 3278 127000 SHR SOLE 2 127000
MERCANTILE BANKSHARES COM 587405101 511 16000 SHR SOLE 2 16000
MERCK & CO COM 589331107 3454 51355 SHR SOLE 1,2 51355
MEREDITH CORP COM 589433101 3085 74000 SHR SOLE 2 74000
MERITOR AUTOMOTIVE INC COM 59000G100 16 801 SHR SOLE 2 801
METHODE ELEC CL A COM 591520200 6646 207550 SHR SOLE 2 207550
MICROSOFT CORP COM 594918104 5151 44089 SHR SOLE 1,2 44089
MIDAMERICAN ENERGY HLDGS CO COM 59562V107 4632 137470 SHR SOLE 2 137470
MILESTONE EXPLORATION LTD. COM 599352101 0 1470 SHR SOLE 1 1470
MILLENNIUM PHARMACEUTICAL COM 599902103 3554 29040 SHR SOLE 2 29040
MILLIPORE CORP COM 601073109 13 337 SHR SOLE 2 337
MINN MINING & MFG. COM 604059105 242 2488 SHR SOLE 1,2 2488
MINNTECH CORP COM 604258103 1251 130000 SHR SOLE 2 130000
MOBILE CLIMATE CONTROL INDUSTRIECOM 606921310 1 1000 SHR SOLE 1 1000
MOBIL CORP COM 607059102 185 1200 SHR SOLE 2 1200
MONARCH DENTAL CORP COM 609044102 148 86000 SHR SOLE 2 86000
ROBERT MONDAVI 'A' COM 609200100 1564 45000 SHR SOLE 2 45000
MONSANTO CO COM 611662107 61308 1721120 SHR SOLE 1,2 1721120
J.P. MORGAN & CO. COM 616880100 865 6830 SHR SOLE 1 6830
MORRISON KNUDSEN CORP COM 61844A109 2 204 SHR SOLE 2 204
MOTOROLA COM 620076109 13352 90650 SHR SOLE 1,2 90650
NCR CORP COM 62886E108 2 55 SHR SOLE 2 55
NABORS INDUSTRIES COM 629568106 124 4000 SHR SOLE 1 4000
NATL AUSTRALIA BK LTD ADR 632525408 111 1456 SHR SOLE 2 1456
NATIONAL SEMICONDUCTOR COM 637640103 5202 121500 SHR SOLE 1,2 121500
NATL WESTMINSTER PFD 638539700 20 950 SHR SOLE 2 950
NETWORK ASSOCIATES INC. COM 640938106 35 1300 SHR SOLE 1 1300
NESTLE SA ADR 641069406 134 1489 SHR SOLE 2 1489
NETWORK APPLIANCE INC COM 64120L104 115 1382 SHR SOLE 1,2 1382
NEW ENGLAND ELECTRIC COM 644001109 72 1384 SHR SOLE 1 1384
NEW PLAN EXCEL REALTY TR COM 648053106 13 845 SHR SOLE 2 845
NEWBRIDGE COM 650901101 1996 88455 SHR SOLE 1,2 88455
NEWS CORP LTD ADR 652487703 94 2472 SHR SOLE 2 2472
NEW CORP LTD PFD 652487802 34 1000 SHR SOLE 2 1000
NEXTEL COMMUNICATION COM 65332V103 290 2810 SHR SOLE 2 2810
NEXTLINK COMMUNICATIONS COM 65333H707 4676 56300 SHR SOLE 2 56300
NINTENDO OF AMERICA INC ADR 654445303 71 3460 SHR SOLE 2 3460
NIPPON TELEC & TEL CORP COM 654624105 124 1440 SHR SOLE 2 1440
NISOURCE INC COM 65473P105 138 7690 SHR SOLE 1,2 7690
NORFOLK & SOUTHERN CORP COM 655844108 217 10569 SHR SOLE 1,2 10569
NORSK HYDRO ADR 656531605 64 1525 SHR SOLE 2 1525
NORTEL NETWORKS CORP COM 656569100 5333 52815 SHR SOLE 1,2 52815
NORTH EUROPEAN OIL RTY TR COM 659310106 15 1000 SHR SOLE 2 1000
NORTHERN STATES POWER MN COM 665772109 89 4476 SHR SOLE 2 4476
NORTHERN TELECOM LTD. COM 665815106 1040 10300 SHR SOLE 2 10300
NOVARTIS AG ADR 66987V109 121 1556 SHR SOLE 2 1556
NOVELL INC COM 670006105 5015 126220 SHR SOLE 2 126220
NOVELLUS SYS INC COM 670008101 6215 50900 SHR SOLE 2 50900
NOVO NORDISK COM 670100205 1843 28506 SHR SOLE 2 28506
OCCIDENTAL PET CORP COM 674599105 41 1924 SHR SOLE 1,2 1924
OCEANEERING INTERNATIONAL, INC COM 675232102 1329 89000 SHR SOLE 2 89000
OMNICOM GROUP COM 681919106 46811 468231 SHR SOLE 1,2 468231
OMEGA HEALTHCARE PFD 681936209 6 500 SHR SOLE 2 500
ORACLE CORP COM 68389X105 2328 20777 SHR SOLE 1,2 20777
OREGON TRAIL FINANCIAL CORP COM 685932105 6 560 SHR SOLE 2 560
ORTHODONTIC CENTER OF AM COM 68750P103 1409 118000 SHR SOLE 2 118000
OUTBACK STEAKHOUSE COM 689899102 1972 75975 SHR SOLE 2 75975
OWENS CORNING COM 69073F103 7 386 SHR SOLE 2 386
PE CORP COM 69332S102 101 836 SHR SOLE 2 836
PNC BANK CORP. COM 693475105 50 1120 SHR SOLE 1 1120
PP&L RESOURCES, INC. COM 693499105 310 13559 SHR SOLE 1 13559
PSCO CAPITAL PFD 69360R208 11 500 SHR SOLE 1 500
PG&E CORPORATION COM 694308107 9 432 SHR SOLE 1 432
PACIFICORP COM 695114108 2 120 SHR SOLE 2 120
PALEX INC COM 696368109 7 1000 SHR SOLE 2 1000
PARAMETRIC TECHNOLOGY CO COM 699173100 54 2009 SHR SOLE 2 2009
PARKER HANNIFIN CORP COM 701094104 43772 854135 SHR SOLE 1,2 854135
PAYCHEX INC. COM 704326107 76 1898 SHR SOLE 2 1898
J C PENNEY CO COM 708160106 6 300 SHR SOLE 2 300
PEOPLE'S BANK, BRIDGEPORT,CT COM 710198102 82 3900 SHR SOLE 1 3900
PEOPLES HERITAGE FIN'L GROUP COM 711147108 8 562 SHR SOLE 1 562
PEOPLESOFT INC COM 712713106 42 1973 SHR SOLE 2 1973
PEPSIAMERICAS INC COM 71343P101 5 1200 SHR SOLE 2 1200
PEPSICO INC COM 713448108 76285 2163763 SHR SOLE 1,2 2163763
PHARMACIA & UPJOHN INC COM 716941109 34111 757999 SHR SOLE 1,2 757999
PFIZER COM 717081103 2723 83766 SHR SOLE 1,2 83766
PHILADELPHIA SUBURBAN CORP. COM 718009608 17 800 SHR SOLE 1 800
PHILIP MORRIS COM 718154107 12605 543515 SHR SOLE 1,2 543515
PHILIP SVCS CORP COM COM 71819M103 1 8400 SHR SOLE 2 8400
PHOTRONICS INC COM 719405102 1093 38200 SHR SOLE 2 38200
PIER 1 IMPORTS INC/DEL COM 720279108 7 1125 SHR SOLE 2 1125
PITNEY BOWES COM 724479100 97 2007 SHR SOLE 2 2007
PLEXUS CORP COM 729132100 2596 59000 SHR SOLE 2 59000
PLUG POWER INC COM 72919P103 8 300 SHR SOLE 2 300
PORTUGAL TELECOM S.A. ADR 737273102 3613 332315 SHR SOLE 2 332315
POST PROPERTIES INC COM 737464107 21 545 SHR SOLE 2 545
POTOMAC ELEC. POWER COM 737679100 20 886 SHR SOLE 1 886
POWERGEN PLC ADR 738905405 64 2214 SHR SOLE 2 2214
PREMIER CRUISES LTD COM 74099A997 250 74059 SHR SOLE 2 74059
PROCTER & GAMBLE COM 742718109 2425 22131 SHR SOLE 1,2 22131
PROGRESSIVE CORP COM 743315103 7 100 SHR SOLE 1 100
PROLIGIS TRUST COM 743410102 68 3550 SHR SOLE 2 3550
PROVIDIAN FINANCIAL COM 74406A102 96 1050 SHR SOLE 2 1050
PUB SVC ENTERPR GROUP INC COM 744573106 51 1469 SHR SOLE 2 1469
PUBLIC STORAGE INC COM 74460D109 25 1079 SHR SOLE 2 1079
QUAKER OATS COM 747402105 66 1004 SHR SOLE 2 1004
QUALCOMM INC COM 747525103 2289 12988 SHR SOLE 2 12988
RWE AKTIENGESELLSCHAF ADR 74975E307 97 2533 SHR SOLE 2 2533
RAILTEX INC. COM 750766107 1037 58000 SHR SOLE 2 58000
RAMBUS INC. COM 750917106 20 300 SHR SOLE 1 300
RALSTON-PURINA GROUP COM 751277302 70 2513 SHR SOLE 2 2513
RAYTHEON CO - CLASS A COM 755111309 647 26428 SHR SOLE 2 26428
RAYTHEON CO CL B COM 755111408 31 1180 SHR SOLE 1,2 1180
RED HAT INC COM 756577102 3465 16400 SHR SOLE 2 16400
REEBOK INTL LTD COM 758110100 3 320 SHR SOLE 2 320
RELIANT ENERGY INC COM 75952J108 12 515 SHR SOLE 2 515
REPSOL ADR 76026T205 2968 127574 SHR SOLE 1,2 127574
REUTERS GROUP PLC COM 761324201 113 1400 SHR SOLE 1 1400
RIO TINTO COM 767202104 88 1256 SHR SOLE 2 1256
ROBBINS AND MYERS INC COM 770196103 1041 46000 SHR SOLE 2 46000
ROGERS CANTEL MOB COMMON COM 775102205 728 20000 SHR SOLE 2 20000
ROYAL BK OF SCOTLD PFD 780097408 13 600 SHR SOLE 1 600
ROYAL DUTCH PETROL. ADR 780257705 1181 19500 SHR SOLE 1,2 19500
ROYAL DUTCH PET NY ADR 780257804 28490 471440 SHR SOLE 2 471440
RUBY TUESDAY COM 781182100 7060 388380 SHR SOLE 2 388380
RURAL CELLULAR PFD 781904305 1213 11806 SHR SOLE 2 11806
RYDER SYSTEM INC COM 783549108 18 750 SHR SOLE 2 750
SBC COMM INC COM 78387G103 6747 138898 SHR SOLE 1,2 138898
SDL, INC. COM 784076101 22 100 SHR SOLE 1 100
SLM HOLDING CORP COM 78442A109 199 4708 SHR SOLE 2 4708
SAFECO CORP COM 786429100 5 200 SHR SOLE 2 200
SAFESKIN CORP COM 786454108 4 300 SHR SOLE 2 300
SAN PAOLO - IMI SPA ADR 799175104 1779 65025 SHR SOLE 2 65025
SAP AG ADR COM 803054204 3279 62965 SHR SOLE 2 62965
SARA LEE CORP COM 803111103 28537 1292824 SHR SOLE 1,2 1292824
SAWTEK INC COM 805468105 9973 150580 SHR SOLE 2 150580
SCHERING PLOUGH CORP COM 806605101 2492 59031 SHR SOLE 1,2 59031
SCHLUMBERGER LTD COM 806857108 30791 546286 SHR SOLE 1,2 546286
CHARLES SCHWAB CORP. COM 808513105 263 6850 SHR SOLE 1,2 6850
SCIENTIFIC- ATLANTA COM 808655104 4564 81960 SHR SOLE 2 81960
SCOTTISH POWER PLC ADR 81013T705 57 2030 SHR SOLE 2 2030
SEAGRAM CO LTD COM 811850106 53 1200 SHR SOLE 2 1200
SEALED AIR CORP COM 81211K100 40 767 SHR SOLE 2 767
SEALED AIR CORP PFD 81211K209 6 112 SHR SOLE 2 112
SEARS ROEBUCK & CO COM 812387108 62 2000 SHR SOLE 2 2000
SENSORY SCIENCE CORP COM 81726X100 0 200 SHR SOLE 2 200
UNION SQUARE HOTEL PARTNERS COM 820936102 0 10000 SHR SOLE 2 10000
SHELL TRANSPORT & TR-SP COM 822703609 3197 64931 SHR SOLE 2 64931
SHERWIN WILLIAMS COM 824348106 1157 55080 SHR SOLE 2 55080
SHIRE PHARM. GROUP COM 82481R106 1093 37536 SHR SOLE 2 37536
SIMON PROPERTY GROUP INC COM 828806109 38 1665 SHR SOLE 2 1665
SIMPSON IND COM 829060102 7 600 SHR SOLE 2 600
SMART & FINAL INC. COM 831683107 580 80000 SHR SOLE 2 80000
SMITHKLINE BEECHAM ADR 832378301 2117 32915 SHR SOLE 2 32915
SOCIETE GENERALE ADR 83364L109 150 3490 SHR SOLE 2 3490
SODEXHO MARRIOT SVCS COM 833793102 1 87 SHR SOLE 2 87
SOLECTRON CORP COM 834182107 212 2227 SHR SOLE 2 2227
SOLUTIA INC COM 834376105 0 20 SHR SOLE 2 20
SONY CORP ADR 835699307 166 575 SHR SOLE 1,2 575
SOUTHERN CO COM 842587107 14 600 SHR SOLE 2 600
SPIEKER PROPERTIES INC COM 848497103 60 1665 SHR SOLE 2 1665
SPRINT CORP (FON GROUP) COM 852061100 349 5200 SHR SOLE 2 5200
SPRINT CORP (PCS GROUP) COM 852061506 395 3850 SHR SOLE 2 3850
STAAR SURGICAL COM 852312305 722 74000 SHR SOLE 2 74000
STAPLES INC. COM 855030102 48 2325 SHR SOLE 1 2325
STARWOOD HOTELS & RESORTS WOR COM 85590A203 7 300 SHR SOLE 2 300
STORAGE TECH CORP COM 862111200 0 20 SHR SOLE 2 20
STRAYER EDUCATION INC. COM 863236105 494 25000 SHR SOLE 2 25000
SUMMIT BANCORP COM 866005101 155 5050 SHR SOLE 1 5050
SUN MICROSYSTEMS COM 866810104 2679 34598 SHR SOLE 1,2 34598
SUNOCO INC COM 86764P109 5 208 SHR SOLE 2 208
SUPERVALUE INC COM 868536103 73 3664 SHR SOLE 2 3664
SYSCO CORP COM 871829107 235 5940 SHR SOLE 1,2 5940
TCI INTL INC COM 872293105 19 2000 SHR SOLE 2 2000
TECO ENERGY COM 872375100 58 3133 SHR SOLE 1,2 3133
TJX COMPANIES INC COM 872540109 4 200 SHR SOLE 2 200
TALISMAN ENERGY INC. COM 87425E103 5 200 SHR SOLE 1 200
TANDY CORP COM 875382103 70 1414 SHR SOLE 2 1414
TAUBMAN CENTERS INC COM 876664103 38 3525 SHR SOLE 2 3525
TECHMSEH PRODUCTS CO CL B COM 878895101 8 200 SHR SOLE 2 200
TEKELEC COM 879101103 2498 111000 SHR SOLE 2 111000
TELECOM ARGENTINA SA ADR 879273209 43 1253 SHR SOLE 1 1253
TELECOM NEW ZEALAND ADR 879278208 32 820 SHR SOLE 1,2 820
TELECOM ITALIA SPA ADR 87927W106 3656 26117 SHR SOLE 2 26117
TELECORP PCS INC COM 879299105 277 7300 SHR SOLE 2 7300
TELEFONICA SA ADR 879382208 995 12623 SHR SOLE 1 12623
TELEFONOS DE MEXICO ADR 879403780 1603 14250 SHR SOLE 2 14250
TELIGENT INC COM 87959Y103 2068 33500 SHR SOLE 2 33500
TELLABS INC COM 879664100 196 3061 SHR SOLE 2 3061
TENET HEALTHCARE COM 88033G100 6404 272500 SHR SOLE 1,2 272500
TETRA TECHNOLOGIES COM 88162F105 1581 218000 SHR SOLE 2 218000
TEXACO COM 881694103 1594 29357 SHR SOLE 1,2 29357
TEXAS INSTRUMENTS COM 882508104 595 6143 SHR SOLE 2 6143
TEXAS UTIL CO HLDG CO COM 882848104 7 188 SHR SOLE 2 188
THERMO ELECTRON CORP COM 883556102 11 750 SHR SOLE 2 750
THOMAS & BETTS CORP COM 884315102 51 1600 SHR SOLE 2 1600
3COM CORP COM 885535104 9 200 SHR SOLE 1,2 200
TIDEWATER INC. COM 886423102 4 100 SHR SOLE 1 100
TIME WARNER INC COM 887315109 1021 14108 SHR SOLE 1,2 14108
TOKIO MARINE & FIRE ADR 889090403 11 180 SHR SOLE 2 180
TORCHMARK CORPORATION COM 891027104 26 910 SHR SOLE 1 910
TOTAL FINA SA ADR 89151E109 2334 33786 SHR SOLE 2 33786
TOYS R US INC COM 892335100 11 770 SHR SOLE 2 770
TRANSMATION INC COM 893757104 45 19000 SHR SOLE 2 19000
TRICON GLOBAL RESTAURANT COM 895953107 74 1915 SHR SOLE 1,2 1915
TRITEL CLASS A COM 89675X104 158 5000 SHR SOLE 2 5000
TRUE NORTH COM COM 897844106 8418 188480 SHR SOLE 2 188480
TUPPERWARE CORP COM 899896104 7 399 SHR SOLE 2 399
TRANSOCEAN SEDCO FOREX COM 900781090 320 9495 SHR SOLE 1,2 9495
TYCO INTERNATIONAL LTD. COM 902124106 14318 369500 SHR SOLE 2 369500
TYCO INTERNATIONAL LTD. COM 902134106 924 23700 SHR SOLE 1,2 23700
UST INC COM 902911106 1439 56989 SHR SOLE 2 56989
UNIFIRST CORP. COM 904708104 1869 148000 SHR SOLE 2 148000
UNIGATE PLC ADR 904750403 56 11692 SHR SOLE 2 11692
UNILEVER N V COM 904784709 4421 81196 SHR SOLE 2 81196
UNICOM CORP COM 904911104 73 2192 SHR SOLE 2 2192
UNION CARBIDE CORP COM 905581104 86 1353 SHR SOLE 2 1353
UNION PAC CORP COM 907818108 23462 538340 SHR SOLE 1,2 538340
UNION PACIFIC RESOURCES COM 907834105 56 4370 SHR SOLE 1 4370
UNISYS CORP COM 909214108 10 309 SHR SOLE 2 309
UNITED DOMINION REALITY TRUST COM 910197102 18 1840 SHR SOLE 2 1840
UNITED HEALTHCARE CORP COM 910581107 5727 107800 SHR SOLE 1,2 107800
US AIRWAYS GROUP INC COM 911905107 15 472 SHR SOLE 2 472
US WEST INC COM 91273H101 352 4920 SHR SOLE 2 4920
US WEST INC. COM 912889102 119 1648 SHR SOLE 1 1648
MEDIAONE GROUP INC. COM 912889201 54 707 SHR SOLE 1 707
UNOCAL CORPORATION COM 915289102 76 2250 SHR SOLE 1 2250
VERTEX PHARMACEUTICALS COM 92532F100 121 3450 SHR SOLE 1,2 3450
VIACOM INC CL A COM 925524100 59 998 SHR SOLE 2 998
VIACOM INC CL B COM 925524308 59 998 SHR SOLE 2 998
VICAL INC COM 925602104 28 1000 SHR SOLE 2 1000
VLASIC FOODS INTL INC COM 928559103 1 160 SHR SOLE 2 160
VODAFONE AIRTOUCH PLC COM 92857T107 660 13185 SHR SOLE 1,2 13185
VULCAN MATERIALS CO. COM 929160109 83 2085 SHR SOLE 1 2085
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WALGREEN CO COM 931422109 225 7676 SHR SOLE 2 7676
WARNER LAMBERT CO COM 934488107 970 11841 SHR SOLE 1,2 11841
WASHINGTON MUTUAL INVESTORS COM 939330106 48 1617.196 SHR SOLE 2 1617.196
WASHINGTON REIT COM 939653101 33 2290 SHR SOLE 2 2290
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WASTE SYSTEM WT 94106P209 8 11250 SHR SOLE 11250
WATSON PHARM INC COM 942683103 13916 388580 SHR SOLE 388580
WEINGARTEN REALTY INVST COM 948741103 21 545 SHR SOLE 545
WELLS FARGO COM 949746101 11351 280698 SHR SOLE 280698
WENDY'S INTERNATIONAL, INC. COM 950590109 5 227 SHR SOLE 227
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WET SEAL INC. - CL A COM 961840105 564 46000 SHR SOLE 46000
WEYERHAEUSER CO COM 962166104 29906 416630 SHR SOLE 416630
WHITTMAN-HART INC. COM 966834103 5 100 SHR SOLE 100
WHOLE FOOD MARKET INC COM 966837106 12275 265050 SHR SOLE 265050
WILLIAMS COS INC COM 969457100 3353 109700 SHR SOLE 109700
WILMINGTON TRUST CORP COM 971807102 724 15000 SHR SOLE 15000
WINN-DIXIE STORES INC COM 974280109 61 2532 SHR SOLE 2532
WINSTAR COMMUNICATIONS I COM 975515107 3919 52400 SHR SOLE 52400
WISCONSIN ENERGY COM 976657106 156 8127 SHR SOLE 8127
WOLVERINE WORLD WIDE INC COM 978097103 3 300 SHR SOLE 300
WRIGLEY (WM) JR COM 982526105 89 1068 SHR SOLE 1068
XILINX INC. COM 983919101 112 2460 SHR SOLE 2460
XEROX CORPORATION COM 984121103 41 1800 SHR SOLE 1800
YAHOO INC COM 984332106 909 2100 SHR SOLE 2100
ZURICH ALLIED AG ADR 98981P101 49 425 SHR SOLE 425
DAIMLERCHRYSLER AG COM D1668R123 2748 35124 SHR SOLE 35124
GLOBAL CROSSING LTD COM G3921A100 775 15500 SHR SOLE 15500
SANTA FE INT'L COM G7805C108 14503 560500 SHR SOLE 560500
TRANSOCEAN SEDCO FOREX COM G90078109 3020 89636.8 SHR SOLE 89636.8
</TABLE>
