UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
Check here if Amendment [X], Amendment Number: 1
This Amendment (Check only one): [X] is a restatement.
[ ] adds new holding entires.
Institutional Investment Manager Filing this Report:
Name: Spears, Benzak, Salomon and Farrell (Division of Key Asset
Management, Inc.)
Address: 45 Rockefellar Plaza
New York, NY 10111
13F File Number: 28-3968
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: Diane L. Wozniak
Title: Officer
Phone: 216-813-4794
Signature, Place, and Date of Signing:
Diane L. Wozniak Brooklyn, Ohio August 31, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
Key Trust Company of Ohio, National Association
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES
EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 727
Form 13F Information Table Value Total: $4,803,549,922
List of Other Included Managers:
No. 13F File Number Name
None
<PAGE>
<TABLE>
<S> <C> <C>
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 1
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
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ALCOA INC COMMON 013817101 30,249 488,879 N X 72,168 416,711
ALCOA INC COMMON 013817101 44,777 723,674 N X 723,674
ALCOA INC COMMON 013817101 857 13,855 N X ERIS 13,855
AMERICAN BANCSHARES COMMON 02408H106 128 15,000 N X 15,000
ABM INDUSTRIES COMMON 000957100 2,122 69,149 N X 69,149
ABM INDUSTRIES COMMON 000957100 417 13,600 N X 13,600
ABBOTT LABORATORIES COMMON 002824100 7,243 159,620 N X 400 3,500 155,720
ABBOTT LABORATORIES COMMON 002824100 615 13,550 N X 13,550
ACACIA BANCORP / SERIES A PREFER 783374PRA 200 20,000 N X 20,000
AMERICREDIT CORP. COMMON 03060R101 1,313 82,050 N X 82,050
AMERICREDIT CORP. COMMON 03060R101 272 17,000 N X 17,000
ACE LTD COMMON G0070K103 43,181 1,528,545 N X 290,003 1,229,542 9,000
ACE LTD COMMON G0070K103 61,233 2,167,532 N X 2,167,532
ACE LTD COMMON G0070K103 951 33,672 N X ERIS 461 33,211
AFFILIATED COMPUTER SVCS COMMON 008190100 1,650 32,600 N X 32,600
AFFILIATED COMPUTER SVCS COMMON 008190100 375 7,400 N X 7,400
ADVANCED MARKETING SERVICE COMMON 00753T105 495 32,999 N X 32,999
ADVANCED MARKETING SERVICE COMMON 00753T105 195 13,000 N X 13,000
AMEREN CORP COMMON 023608102 239 6,236 N X 6,236
AEGON, N.V. AMER REG SHARE COMMON 007924103 216 2,928 N X 2,928
ADVANCED ENVIRONMENTAL REC COMMON 007947104 33 18,385 N X 18,385
ADVANCED ENVIR RECYCLING T COMMON AERTAWTS 30 80,000 N X 80,000
ADVANCED ENVIRONMENTAL REC COMMON AERTAWTSX 28 91,820 N X 91,820
ADVANCED ENVIR RECYCLING T COMMON AERTAWTSY N/A 33,900 N X 33,900
AETNA, INC COMMON 008117103 8,942 99,977 N X 99,977
AFFYMETRIX COMMON 00826T108 988 20,000 N X 20,000
ASSOCIATES FIRST CAP CORP COMMON 046008108 1,182 26,780 N X 2,206 24,574
AGRIBRANDS INTERNATIONAL I COMMON 00849R105 3,375 85,300 N X 18,000 57,500 9,800
AGRIBRANDS INTERNATIONAL I COMMON 00849R105 3,311 83,700 N X 83,700
AMERADA HESS CORP COMMON 023551104 202 3,400 N X 3,400
AMERICAN HOME PRODS CORP COMMON 026609107 36,740 640,344 N X 127,408 512,935
AMERICAN HOME PRODS CORP COMMON 026609107 184 3,200 N X 3,200
AMERICAN HOME PRODS CORP COMMON 026609107 52,450 914,158 N X 914,158
AMERICAN HOME PRODS CORP COMMON 026609107 815 14,209 N X ERIS 341 13,868
AMERICAN INTL GROUP INC COMMON 026874107 48,216 411,226 N X 20,004 225,317 165,905
AMERICAN INTL GROUP INC COMMON 026874107 297 2,530 N X 2,530
AMERICAN INTL GROUP INC COMMON 026874107 81,223 692,733 N X 692,733
_______________
PAGE COLUMN TOTALS 434,743
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 2
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
AMERICAN INTL GROUP INC COMMON 026874107 611 5,209 N X ERIS 41 5,168
APARTMANT INVESTMENT & MGM COMMON 03748R101 214 5,000 N X 5,000
APARTMENT INV 8% SERIES K PREFER 03748R705 269 10,000 N X 10,000
ACCLAIM ENMNT INC. COMMON 004325205 669 105,000 N X 105,000
ALKERMES INC COMMON 01642T108 1,272 55,000 N X 55,000
ALKERMES INC COMMON 01642T108 254 11,000 N X 11,000
ALPHARMA INC CL A COMMON 020813101 2,269 63,800 N X 63,800
ALPHARMA INC CL A COMMON 020813101 334 9,400 N X 9,400
AMB PROPERTIES COMMON 00163T109 423 18,000 N X 8,000 10,000
AMGEN INC COMMON 031162100 2,405 39,500 N X 1,000 38,500
AMGEN INC COMMON 031162100 6,270 103,000 N X 103,000
AMR CORP COMMON 001765106 3,276 48,000 N X 8,200 34,000 5,800
AMR CORP COMMON 001765106 9,125 133,700 N X 133,700
AMERICAN SUPERCONDUCTOR CO COMMON 030111108 448 30,000 N X 30,000
AUTONATION INC COMMON 05329W102 39,671 2,227,133 N X 557,235 1,669,898
AUTONATION INC COMMON 05329W102 40,792 2,290,081 N X 2,290,081
AUTONATION INC COMMON 05329W102 549 30,838 N X ERIS 1,588 29,250
ANDOVER BANCORP INC. COMMON 034258103 1,650 52,600 N X 52,600
ANDOVER BANCORP INC. COMMON 034258103 279 8,900 N X 8,900
ANAREN MICROWAVE INC COMMON 032744104 330 15,800 N X 15,800
AMERICA ON LINE INC COMMON 02364J104 3,753 34,122 N X 5,000 29,122
AMERICA ON LINE INC COMMON 02364J104 550 5,000 N X 5,000
ANADARKO PETROLEUM CORP COMMON 032511107 1,205 32,726 N X 1,600 31,126
APLLIED POWER COMMON 038225108 1,250 45,750 N X 45,750
APLLIED POWER COMMON 038225108 254 9,300 N X 9,300
ATLANTIC RICHFIELD CO COMMON 048825103 2,021 24,184 N X 24,184
ARM FINANCIAL GROUP INC CL COMMON 001944107 769 90,500 N X 90,500
ARM FINANCIAL GROUP INC CL COMMON 001944107 183 21,500 N X 21,500
ON ASSIGNMENT INC. COMMON 682159108 831 31,800 N X 31,800
ARCHSTONE COMMUNITIES TRUS COMMON 039581103 457 20,850 N X 20,850
ARCHSTONE COMMUNITIES TRUS COMMON 039581103 3,985 181,660 N X 181,660
AASTROM BIOSCIENCES COMMON 00253U107 244 195,454 N X 195,454
AASTROM BIOSCIENCES COMMON 00253U107 27 21,718 N X 21,718
ALLTEL CORP COMMON 020039103 29,829 417,182 N X 65,478 351,638 65
ALLTEL CORP COMMON 020039103 179 2,500 N X 2,500
ALLTEL CORP COMMON 020039103 32,225 450,698 N X 450,698
ALLTEL CORP COMMON 020039103 690 9,639 N X ERIS 9,639
_______________
PAGE COLUMN TOTALS 189,562
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 3
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
AGL RESOURCES INC COMMON 001204106 2,028 110,000 N X 110,000
AIRTOUCH COMM PR C 4.25% 8 PREFER 00949T308 4,637 31,400 N X 31,400
ATRIX LABATORIES COMMON 04962L101 1,186 123,200 N X 123,200
ATWOOD OCEANICS INC. COMMON 050095108 1,350 43,200 N X 43,200
ATWOOD OCEANICS INC. COMMON 050095108 213 6,800 N X 6,800
AUTOMATIC DATA PROCESSING COMMON 053015103 590 13,400 N X 8,600 4,800
AUTOMATIC DATA PROCESSING COMMON 053015103 176 4,000 N X 4,000
AVALON BAY CMNTYS INC. COMMON 053484101 2,203 59,541 N X 22,000 37,541
AVNET INC COMMON 053807103 286 6,140 N X 6,140
AVATAR HOLDINGS INC COMMON 053494100 3,894 205,599 N X 17,626 146,421 41,552
AVATAR HOLDINGS INC COMMON 053494100 15,461 816,413 N X 816,413
AMERICAN EXPRESS CO COMMON 025816109 507 3,900 N X 3,900
ALZA CORP COMMON 022615108 3,378 66,400 N X 66,400
ALZA CORP COMMON 022615108 295 5,800 N X 5,800
BOEING CO. COMMON 097023105 264 6,000 N X 6,000
BOEING CO. COMMON 097023105 823 18,702 N X 18,702
BANK OF AMERICA CORP COMMON 060505104 650 8,863 N X 7,263 1,600
BANK OF AMERICA CORP COMMON 060505104 745 10,164 N X 10,164
BANKATLANTIC CORP INC CL COMMON 065908105 81 10,000 N X 10,000
BALANCE BAR CO COMMON 057623100 606 100,000 N X 100,000
BANKATLANTIC BANCORP INC C COMMON 065908501 104 14,413 N X 14,413
BOSTON COMMUNICATIONS GROU COMMON 100582105 586 43,600 N X 4,000 39,600
BOSTON COMMUNICATIONS GROU COMMON 100582105 538 40,000 N X 40,000
BIO CHEM PHARMACEUTICAL COMMON 09058T108 21,784 1,161,839 N X 211,975 949,864
BIO CHEM PHARMACEUTICAL COMMON 09058T108 114 6,100 N X 6,100
BIO CHEM PHARMACEUTICAL COMMON 09058T108 26,261 1,400,577 N X 1,400,577
BIO CHEM PHARMACEUTICAL COMMON 09058T108 362 19,332 N X ERIS 656 18,676
BRANDYWINE REALTY TRUST SB COMMON 105368203 396 20,000 N X 20,000
BECKMAN COULTER INC. COMMON 075811109 28,454 585,171 N X 103,997 481,174
BECKMAN COULTER INC. COMMON 075811109 35,246 724,845 N X 724,845
BECKMAN COULTER INC. COMMON 075811109 806 16,582 N X ERIS 227 16,355
BEDFORD PROPERTY INVESTORS COMMON 076446301 304 17,000 N X 8,000 9,000
BELL ATLANTIC CORP COMMON 077853109 3,255 49,794 N X 728 49,066
BELL ATLANTIC CORP COMMON 077853109 1,647 25,195 N X 25,195
BIOGEN INC COMMON 090597105 3,829 59,532 N X 55,532 4,000
BIOGEN INC COMMON 090597105 2,527 39,288 N X 39,288
BJ's WHOLESALE CLUB COMMON 05548J106 2,333 77,600 N X 77,600
_______________
PAGE COLUMN TOTALS 167,919
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 4
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
BJ's WHOLESALE CLUB COMMON 05548J106 475 15,800 N X 15,800
BANK OF NEW YORK INC COMMON 064057102 295 8,040 N X 276 7,764
BANK OF NEW YORK INC COMMON 064057102 6,592 179,678 N X 179,678
BANK SOUTH CAROLINA CORP COMMON 065066102 171 11,616 N X 11,616
BELO (A.H.) CORP -COM SER COMMON 080555105 1,136 46,600 N X 46,600
BELLSOUTH CORP COMMON 079860102 236 5,106 N X 5,106
BRISTOL MYERS SQUIBB CO COMMON 110122108 9,560 135,722 N X 1,072 24,270 110,380
BRISTOL MYERS SQUIBB CO COMMON 110122108 310 4,400 N X 4,400
BRISTOL MYERS SQUIBB CO COMMON 110122108 347 4,920 N X 4,920
BP AMOCO ADS COMMON 055622104 2,764 25,473 N X 1,058 24,415
BP AMOCO ADS COMMON 055622104 8,855 81,610 N X 81,610
BURLINGTON RES INC COMMON 122014103 40,825 943,935 N X 190,358 753,577
BURLINGTON RES INC COMMON 122014103 56,339 1,302,631 N X 1,302,631
BURLINGTON RES INC COMMON 122014103 1,172 27,096 N X ERIS 484 26,612
BIORELIANCE CORP COMMON 090951104 1,046 160,957 N X 160,957
Berkshire Hathaway Class B COMMON 084670207 5,407 2,414 N X 47 2,367
Berkshire Hathaway Class B COMMON 084670207 15,230 6,799 N X 6,799
Berkshire Hathaway Class B COMMON 084670207 323 144 N X ERIS 144
BARR LABS INC. COMMON 068306109 1,252 31,400 N X 31,400
BARR LABS INC. COMMON 068306109 239 6,000 N X 6,000
BEC ENERGY COMMON 100599109 520 12,600 N X 12,600
BRUNSWICK TECHNOLOGY COMMON 117394106 1,433 263,500 N X 263,500
BURLINGTON INDS INC. COMMON 121693105 1,212 131,000 N X 10,000 63,700 57,300
BURLINGTON INDS INC. COMMON 121693105 3,179 343,700 N X 343,700
BINDVIEW DEVELOPMENT INC. COMMON 090327107 1,948 82,000 N X 82,000
BINDVIEW DEVELOPMENT INC. COMMON 090327107 211 8,900 N X 8,900
BORG WARNER AUTOMOTIVE COMMON 099724106 26,424 480,440 N X 104,265 369,475 6,700
BORG WARNER AUTOMOTIVE COMMON 099724106 38,818 705,790 N X 705,790
BORG WARNER AUTOMOTIVE COMMON 099724106 682 12,394 N X ERIS 231 12,163
BIOMATRIX INC. COMMON 09060P102 1,882 87,300 N X 87,300
BOSTON PROPERTIES INC COMMON 101121101 969 27,000 N X 4,000 23,000
BEAZER HOME COMMON 07556Q105 1,981 85,653 N X 85,653
BEAZER HOME COMMON 07556Q105 4,100 177,293 N X 177,293
CITIGROUP INC COMMON 172967101 40,216 846,654 N X 173,200 673,454
CITIGROUP INC COMMON 172967101 70,673 1,487,849 N X 1,487,849
CITIGROUP INC COMMON 172967101 849 17,864 N X ERIS 492 17,372
CONAGRA INC. COMMON 205887102 668 25,100 N X 2,100 23,000
_______________
PAGE COLUMN TOTALS 348,337
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 5
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
CONAGRA INC. COMMON 205887102 12,095 454,262 N X 454,262
NEXTEL COMMUNICATIONS INC COMMON 65332V103 279 5,555 N X 5,555
CHUBB CORP COMMON 171232101 533 7,675 N X 225 7,450
CHUBB CORP COMMON 171232101 9,515 136,912 N X 136,912
COMMERCE BANCORP INC. NJ COMMON 200519106 8,018 187,545 N X 187,545
CAMBREX CORP. COMMON 132011107 1,676 63,850 N X 63,850
CAMBREX CORP. COMMON 132011107 281 10,700 N X 10,700
CENDANT COMMON 151313103 205 10,000 N X 10,000
CD RADIO INC COMMON 125127100 305 10,000 N X 10,000
CABLE DESIGN TECH COMMON 126924109 898 58,200 N X 58,200
CELL GENESYS INC COMMON 150921104 72 17,000 N X 17,000
CENTENNIAL TECH COMMON 151392107 N/A 200 N X 200
CHIRON CORP COMMON 170040109 1,832 88,276 N X 88,276
CHALONE INC COMMON 157639105 179 18,370 N X 18,370
C&D TECHNOLOGIES INC. COMMON 124661109 1,954 63,800 N X 63,800
C&D TECHNOLOGIES INC. COMMON 124661109 315 10,300 N X 10,300
CHEVRON CORP COMMON 166751107 1,551 16,319 N X 16,319
Pilgrims Pride Corp. Class COMMON 721467108 759 25,300 N X 25,300
Pilgrims Pride Corp. Class COMMON 721467108 327 10,900 N X 10,900
CHITTENDEN CORP. COMMON 170228100 572 18,300 N X 18,300
CHITTENDEN CORP. COMMON 170228100 244 7,800 N X 7,800
CIGNA CORP COMMON 125509109 380 4,266 N X 4,266
CINERGY CORP COMMON 172474108 508 15,874 N X 15,874
CINERGY CORP COMMON 172474108 210 6,578 N X 6,578
C.I.T. GROUP INC-A COMMON 125577106 37,259 1,290,340 N X 317,186 958,254 14,900
C.I.T. GROUP INC-A COMMON 125577106 225 7,800 N X 7,800
C.I.T. GROUP INC-A COMMON 125577106 52,706 1,825,300 N X 1,825,300
C.I.T. GROUP INC-A COMMON 125577106 848 29,357 N X ERIS 726 28,631
CLEVELAND CLIFFS INC COMMON 185896107 5,497 169,800 N X 16,900 152,900
CLEVELAND CLIFFS INC COMMON 185896107 18,663 576,451 N X 576,451
MACK CALI REALTY COMMON 554489104 619 20,000 N X 20,000
COMERICA INC COMMON 200340107 250 4,200 N X 4,200
CHASE MANHATTAN CORP NEW COMMON 16161A108 1,621 18,736 N X 532 18,204
CHASE MANHATTAN CORP NEW COMMON 16161A108 6,579 76,056 N X 76,056
CHASE MANHATTAN BANK NEW S PREFER 16161A835 362 13,000 N X 13,000
COMCAST CORP CL A SPL COMMON 200300200 13,456 350,078 N X 36,870 306,208 7,000
COMCAST CORP CL A SPL COMMON 200300200 57,853 1,505,109 N X 1,505,109
_______________
PAGE COLUMN TOTALS 238,643
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 6
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
COMCAST CORP CL A SPL COMMON 200300200 670 17,434 N X ERIS 17,434
COMPUTER NETWORK TECH CORP COMMON 204925101 3,030 140,100 N X 140,100
COMPUTER NETWORK TECH CORP COMMON 204925101 517 23,900 N X 23,900
CONSOLIDATED NAT GAS CO COMMON 209615103 1,401 23,054 N X 23,054
CENTOCOR INC COMMON 152342101 2,308 49,500 N X 49,500
CENTOCOR INC COMMON 152342101 373 8,000 N X 8,000
COACHMEN INDUSTRIES, INC COMMON 189873102 1,536 66,049 N X 66,049
COACHMEN INDUSTRIES, INC COMMON 189873102 302 13,000 N X 13,000
COLUMBIA/HCA HEALTH CORP COMMON 197677107 3,578 156,832 N X 156,832
COLLAGENESIS SER B 10 % COMMON COLLAGEN 1,078 220,000 N X 220,000
COLLAGENESIS SER B 10 % COMMON COLLAGEN 147 30,000 N X 30,000
COLLAGENESIS CORP. WARRANT COMMON COLLAGENW 22 110,000 N X 110,000
COLLAGENESIS CORP. WARRANT COMMON COLLAGENW 3 15,000 N X 15,000
COMAIR HOLDINGS INC. COMMON 199789108 1,656 79,550 N X 79,550
COMAIR HOLDINGS INC. COMMON 199789108 431 20,700 N X 20,700
COOPER COS COMMON 216648402 1,310 52,550 N X 52,550
COOPER COS COMMON 216648402 282 11,300 N X 11,300
COX COMMUNICATIONS INC NE COMMON 224044107 307 8,328 N X 8,328
CANADIAN PACIFIC LTD NEW COMMON 135923100 244 10,246 N X 10,246
CENTRAL PACIFIC MINERALS COMMON 154762306 80 11,000 N X 11,000
CORN PRODUCTS INTL INC COMMON 219023108 323 10,600 N X 100 500 10,000
CORN PRODUCTS INTL INC COMMON 219023108 1,843 60,565 N X 60,565
CORNERSTONE PROPERTIES INC COMMON 21922H103 3,483 219,390 N X 59,675 159,715
CORNERSTONE PROPERTIES INC COMMON 21922H103 10,120 637,488 N X 637,488
COMPAQ COMPUTER COMMON 204493100 37,005 1,562,209 N X 354,673 1,193,836 13,700
COMPAQ COMPUTER COMMON 204493100 50,689 2,139,901 N X 2,139,901
COMPAQ COMPUTER COMMON 204493100 882 37,222 N X ERIS 768 36,454
CISCO SYSTEMS COMMON 17275R102 10,077 156,378 N X 3,700 41,800 110,878
CISCO SYSTEMS COMMON 17275R102 2,610 40,500 N X 40,500
CENTRAL & SOUTH WEST CORP COMMON 152357109 7,336 313,827 N X 306 229,147 84,374
CENTRAL & SOUTH WEST CORP COMMON 152357109 1,268 54,227 N X 54,227
CAPITAL SENIOR LIVING CORP COMMON 140475104 1,305 130,500 N X 130,500
CAPITAL SENIOR LIVING CORP COMMON 140475104 250 25,000 N X 25,000
CSX CORP COMMON 126408103 218 4,800 N X 4,800
CTS Corp COMMON 126501105 2,541 36,300 N X 36,300
CTS Corp COMMON 126501105 497 7,100 N X 7,100
COUSINS PROPERTIES COMMON 222795106 3,216 95,121 N X 602 76,919 17,600
_______________
PAGE COLUMN TOTALS 152,934
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 7
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
COUSINS PROPERTIES COMMON 222795106 21,658 640,521 N X 640,521
CSC HOLDINGS 8.5% SER I PF PREFER 126304203 2,808 26,000 N X 26,000
CONVERGYS CORP. COMMON 212485106 1,812 93,500 N X 93,500
CONVERGYS CORP. COMMON 212485106 252 13,000 N X 13,000
DBT ONLINE INC. COMMON 233044106 1,444 44,100 N X 44,100
DU PONT E I DE NEMOURS & C COMMON 263534109 594 8,690 N X 1,000 7,690
DU PONT E I DE NEMOURS & C COMMON 263534109 6,087 89,104 N X 89,104
D.R. HORTON INC. COMMON 23331A109 855 51,400 N X 51,400
DIGIRAD SERIVE D PFD SIRCOM DIGIRADXX 700 303,385 N X 303,385
DIGIRAD SERIVE D PFD SIRCOM DIGIRADXX 50 21,670 N X 21,670
DII GROUP INC COMMON 232949107 1,679 45,000 N X 45,000
WALT DISNEY CO. COMMON 254687106 2,369 76,880 N X 21,700 37,003 18,177
WALT DISNEY CO. COMMON 254687106 13,324 432,425 N X 432,425
DONALDSON LUFKIN & JENRETT COMMON 257661108 241 4,000 N X 4,000
DOVER CORP COMMON 260003108 977 27,900 N X 1,800 26,100
DOVER CORP COMMON 260003108 2,629 75,100 N X 75,100
DOW CHEMICAL CO COMMON 26054310 332 2,617 N X 2,617
DOW CHEMICAL CO COMMON 26054310 288 2,269 N X 2,269
DELPHI AUTOMOTIVE SYSTEMS COMMON 247126105 19,774 1,068,888 N X 290,136 717,948 60,804
DELPHI AUTOMOTIVE SYSTEMS COMMON 247126105 27,518 1,487,485 N X 1,487,485
DELPHI AUTOMOTIVE SYSTEMS COMMON 247126105 442 23,881 N X ERIS 696 23,185
DPL INC COMMON 233293109 434 23,458 N X 1,200 22,258
DPL INC COMMON 233293109 467 25,239 N X 25,239
DATA PROCESSING RESOURCES COMMON 237823109 1,741 73,700 N X 73,700
DATA PROCESSING RESOURCES COMMON 237823109 361 15,300 N X 15,300
DUANE READE COMMON 263578106 1,007 33,000 N X 33,000
DUANE READE COMMON 263578106 214 7,000 N X 7,000
DTE ENERGY CO COMMON 233331107 204 5,000 N X 5,000
DVI INC. COMMON 233343102 1,373 80,200 N X 80,200
DVI INC. COMMON 233343102 250 14,600 N X 14,600
HEARX LTD COMMON EARWTS N/A 140,625 N X 140,625
ELECTRONIC DATA SYSTEMS CO COMMON 285661104 15,780 278,675 N X 76,833 201,842
ELECTRONIC DATA SYSTEMS CO COMMON 285661104 21,986 388,282 N X 388,282
ELECTRONIC DATA SYSTEMS CO COMMON 285661104 433 7,646 N X ERIS 199 7,447
EAGLE GEOPHYSICAL INC. COMMON 269524104 68 91,000 N X 91,000
EASTMAN KODAK CO COMMON 27746110 575 8,480 N X 8,480
ESTEE LAUDER COMMON 518439104 201 4,000 N X 4,000
_______________
PAGE COLUMN TOTALS 150,924
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 8
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
ELAN CORP PLC ADR COMMON 284131208 1,064 38,340 N X 38,340
EMC CORP MASS COMMON 268648102 2,475 45,000 N X 9,000 36,000
EMC CORP MASS COMMON 268648102 330 6,000 N X 6,000
EMMIS BROADCASTING CL A COMMON 291525103 1,725 34,942 N X 34,942
EMPI INC. COMMON 291586105 842 34,550 N X 34,550
ENRON CORP COMMON 293561106 245 3,000 N X 3,000
ENZON INC COMMON 293904108 517 25,000 N X 25,000
ENRON OIL & GAS CO COMMON 293562104 28,044 1,384,903 N X 146,733 1,238,170
ENRON OIL & GAS CO COMMON 293562104 48,257 2,383,057 N X 2,383,057
ENRON OIL & GAS CO COMMON 293562104 1,045 51,588 N X ERIS 309 51,279
EQUITY OFFICE PROPERTIES COMMON 294741103 28,706 1,120,250 N X 273,478 846,772
EQUITY OFFICE PROPERTIES COMMON 294741103 31,730 1,238,250 N X 1,238,250
EQUITY OFFICE PROPERTIES COMMON 294741103 674 26,306 N X ERIS 805 25,501
EQUITY RESIDENTIAL PPTYS T COMMON 29476L107 1,036 23,000 N X 23,000
ESTERLINE TECHNOLOGIES COR COMMON 297425100 1,153 80,200 N X 80,200
ESTERLINE TECHNOLOGIES COR COMMON 297425100 196 13,600 N X 13,600
THE EUREKA U.S. FUND LTD. SINMOT EUREKA 625 4,000 N X 4,000
THE EUREKA U.S. FUND LTD. SINMOT EUREKA 1,261 8,068 N X 8,068
FORD MTR CO DEL COMMON 345370100 2,549 45,163 N X 1,000 44,163
FIRST AMER N CORP. TENN COMMON 318900107 1,780 42,832 N X 42,832
FIRST AMER N CORP. TENN COMMON 318900107 3,187 76,681 N X 76,681
FNB CORP COMMON 302520101 422 15,622 N X 15,622
FURNITURE BRANDS INTL. INC COMMON 360921100 231 8,300 N X 8,300
FIRST DATA CORP COMMON 319963104 2,938 60,042 N X 60,042
FREMONT GENERAL CORP. COMMON 357288109 1,488 78,850 N X 78,850
FREMONT GENERAL CORP. COMMON 357288109 281 14,900 N X 14,900
FEDERAL NATL MORTGAGE ASSN COMMON 313586109 36,357 532,699 N X 76,926 253,113 202,660
FEDERAL NATL MORTGAGE ASSN COMMON 313586109 43,464 636,840 N X 636,840
FEDERAL NATL MORTGAGE ASSN COMMON 313586109 657 9,627 N X ERIS 188 9,439
FORTUNE BRANDS, INC COMMON 349631101 1,734 41,900 N X 9,600 22,300 10,000
FORTUNE BRANDS, INC COMMON 349631101 14,134 341,600 N X 341,600
SPRINT CORP COMMON 852061100 562 10,600 N X 10,600
FPIC INSURANCE GROUP INC COMMON 302563101 301 6,200 N X 6,200
FEDERAL HOME LOAN COMMON 313400301 338 5,830 N X 3,080 2,750
FEDERAL HOME LOAN COMMON 313400301 441 7,600 N X 7,600
FIRST UNION CORP COMMON 337358105 239 5,076 N X 5,076
FIRST UNION REAL ESTATE COMMON 337400105 72 16,000 N X 16,000
_______________
PAGE COLUMN TOTALS 261,101
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 9
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
FORWARD AIR CORPORATION COMMON 349853101 2,779 98,799 N X 98,799
FORWARD AIR CORPORATION COMMON 349853101 506 18,000 N X 18,000
GILLETTE CO COMMON 375766102 1,804 44,000 N X 44,000
GADZOOKS INC. COMMON 362553109 269 16,800 N X 16,800
GANNETT CO COMMON 364730101 3,145 44,060 N X 1,200 6,800 36,060
GANNETT CO COMMON 364730101 16,987 238,000 N X 238,000
GENERAL ELECTRIC CO COMMON 369604103 5,770 51,062 N X 1,400 49,662
GENERAL ELECTRIC CO COMMON 369604103 31,824 281,626 N X 281,626
GEHL COMPANY COMMON 368483103 213 10,500 N X 10,500
GELTEX PHARMACEUTICALS INC COMMON 368538104 1,267 70,400 N X 70,400
GENZYME CORP COMMON 372917104 47,355 976,389 N X 146,694 791,565 38,130
GENZYME CORP COMMON 372917104 131 2,700 N X 2,700
GENZYME CORP COMMON 372917104 73,465 1,514,738 N X 1,514,738
GENZYME CORP COMMON 372917104 873 17,998 N X ERIS 322 17,676
GENERAL GROWTH PROPERTIES COMMON 370021107 320 9,000 N X 9,000
GENESIS HEALTH VENTURES COMMON 371912106 39 13,000 N X 13,000
GILDAN ACTIVEWEAR COMMON 375916103 2,616 155,000 N X 155,000
GILDAN ACTIVEWEAR COMMON 375916103 354 21,000 N X 21,000
GILEAD SCIENCES INC COMMON 375558103 392 7,500 N X 7,500
GLIA TECH COMMON 37929C103 2,104 82,500 N X 82,500
GLAXO WELLCOME ADR COMMON 37733W105 17,043 300,978 N X 87,102 213,876
GLAXO WELLCOME ADR COMMON 37733W105 19,235 339,699 N X 339,699
GLAXO WELLCOME ADR COMMON 37733W105 513 9,061 N X ERIS 276 8,785
GENERAL MTRS CORP COMMON 370442105 55,954 847,794 N X 159,345 601,448 87,000
GENERAL MTRS CORP COMMON 370442105 238 3,600 N X 3,600
GENERAL MTRS CORP COMMON 370442105 70,946 1,074,940 N X 1,074,940
GENERAL MTRS CORP COMMON 370442105 902 13,673 N X ERIS 303 13,370
GEN MOTORS CL H / HUGHES E COMMON 370442832 4,508 80,049 N X 6,604 69,645 3,800
GEN MOTORS CL H / HUGHES E COMMON 370442832 8,738 155,177 N X 155,177
GENENTECH INC SPECIAL COM COMMON 368710307 6,469 78,650 N X 78,650
GULF CANADA RES LTD ORD COMMON 40218L305 165 39,500 N X 1,000 38,500
GULF CANADA RES LTD ORD COMMON 40218L305 1,453 346,900 N X 346,900
GTE CORP COMMON 362320103 52,687 697,839 N X 152,226 545,613
GTE CORP COMMON 362320103 264 3,500 N X 3,500
GTE CORP COMMON 362320103 70,655 935,824 N X 935,824
GTE CORP COMMON 362320103 1,330 17,612 N X ERIS 449 17,163
GLOBAL TELESYSTEMS GROUP I COMMON 37936U104 2,738 33,800 N X 800 33,000
_______________
PAGE COLUMN TOTALS 506,049
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 10
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
GLOBAL TELESYSTEMS GROUP I COMMON 37936U104 267 3,300 N X 3,300
GLOBAL TELESYSTEMS GROUP I COMMON 37936U104 1,150 14,200 N X 14,200
GENZYME-MOLECULAR ONCOLOGY COMMON 372917500 75 27,263 N X 27,263
GENZYME SURGICAL PRODUCTS COMMON 372917609 834 189,338 N X 34,680 147,833 6,826
GENZYME SURGICAL PRODUCTS COMMON 372917609 2 483 N X 483
GENZYME SURGICAL PRODUCTS COMMON 372917609 1,209 274,380 N X 274,380
GENZYME TISSUE REPAIR COMMON 372917401 215 105,960 N X 105,960
GENZYME TISSUE REPAIR COMMON 372917401 283 139,516 N X 139,516
HANSEN NATURAL CORP COMMON 411310105 516 118,000 N X 118,000
harbor florida COMMON 411901101 1,838 150,000 N X 150,000
HCC INSURANCE HOLDINGS INC COMMON 404132102 1,879 82,800 N X 82,800
HCC INSURANCE HOLDINGS INC COMMON 404132102 331 14,600 N X 14,600
HOME DEPOT INC COMMON 437076102 361 5,600 N X 5,600
HOME DEPOT INC COMMON 437076102 193 3,000 N X 3,000
HOME DEPOT INC COMMON 437076102 1,392 21,600 N X 21,600
HENLEY HEALTHCARE COMMON HENLWT N/A 14,807 N X 14,807
HENLEY HEALTHCARE INC COMMON HENLWTS N/A 16,828 N X 16,828
HANGAR ORTHOPEDIC GROUP IN COMMON 41043F208 315 22,200 N X 22,200
HANGAR ORTHOPEDIC GROUP IN COMMON 41043F208 173 12,200 N X 12,200
HIBERNIA CORP CL A COMMON 428656102 214 13,616 N X 13,616
HIBERNIA CORP CL A COMMON 428656102 3,508 223,613 N X 223,613
HAWAII LAND & FARMING CO COMMON 41975N104 8 20,000 N X 20,000
HOME PROPERTIES OF NY INC COMMON 437306103 553 20,000 N X 20,000
H.J. HEINZ COMMON 423074103 201 4,000 N X 4,000
STARWOOD HOTELS & RESORTS COMMON 85590A203 5,287 172,988 N X 7,700 151,588 13,700
STARWOOD HOTELS & RESORTS COMMON 85590A203 8,159 266,945 N X 266,945
HEALTHPLAN SERVICES COMMON 421959107 124 18,223 N X 4,252 13,971
HEALTHPLAN SERVICES COMMON 421959107 2,305 338,397 N X 338,397
HEALTHSOUTH CORP COMMON 421924101 482 32,400 N X 32,400
HS RESOURCES INC COMMON 404297103 284 19,245 N X 19,245
HS RESOURCES INC COMMON 404297103 3,282 222,500 N X 222,500
HEARTLAND TECHNOLOGY COMMON 421979105 816 136,030 N X 136,030
HUBCO Inc. COMMON 404382103 1,362 43,400 N X 43,400
HUBCO Inc. COMMON 404382103 959 30,578 N X 30,578
HUGHES SUPPLY INC. COMMON 444482103 2,048 69,000 N X 69,000
HUGHES SUPPLY INC. COMMON 444482103 344 11,600 N X 11,600
HEWLETT PACKARD CO COMMON 428236103 2,024 20,136 N X 1,000 19,136
_______________
PAGE COLUMN TOTALS 42,992
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 11
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
HEWLETT PACKARD CO COMMON 428236103 1,347 13,400 N X 13,400
HYPERION SOLUTIONS CORP. COMMON 44914M104 3,016 169,300 N X 23,500 145,800
HYPERION SOLUTIONS CORP. COMMON 44914M104 10,778 605,100 N X 605,100
INTL BUSINESS MACHINES COR COMMON 459200101 65,767 508,835 N X 64,148 411,927 32,760
INTL BUSINESS MACHINES COR COMMON 459200101 284 2,200 N X 2,200
INTL BUSINESS MACHINES COR COMMON 459200101 153,302 1,186,087 N X 1,186,087
INTL BUSINESS MACHINES COR COMMON 459200101 1,889 14,616 N X ERIS 56 14,560
IDEC PHARMACEUTICALS CORP COMMON 449370105 1,618 21,000 N X 21,000
IDEXX LABS INC COMMON 45168D104 1,504 64,500 N X 64,500
INTERNATIONAL FIBERCOMM COMMON 45950T101 1,992 219,000 N X 219,000
INTERNATIONAL FIBERCOMM COMMON 45950T101 346 38,000 N X 38,000
INSIGNIA FINANCIAL GROUP I COMMON 45767A105 1,847 175,874 N X 1,500 174,374
INSIGNIA FINANCIAL GROUP I COMMON 45767A105 68 6,466 N X 6,466
INSIGNIA FINANCIAL GROUP I COMMON 45767A105 4,723 449,846 N X 449,846
INTEGRATED HEALTH SERVICES COMMON 45812C106 88 11,000 N X 11,000
INGRAM MICRO INDS COMMON 457153104 1,661 64,501 N X 8,100 56,401
INGRAM MICRO INDS COMMON 457153104 203 7,900 N X 7,900
INGRAM MICRO INDS COMMON 457153104 5,647 219,315 N X 219,315
IMCLONE SYS INC COMMON 45245W109 3,286 129,500 N X 129,500
IMCLONE SYS INC COMMON 45245W109 266 10,500 N X 10,500
INCYTE PHARMACEUTICAL INC COMMON 45337C102 2,736 103,500 N X 103,500
INITIALS PLUS INC COMMON 45719710 1 10,000 N X 10,000
INKTOMI CORP COMMON 457277101 548 4,168 N X 4,168
INTERMET CORP COMMON 45881K104 163 10,800 N X 10,800
INTEL CORP COMMON 458140100 62,785 1,055,214 N X 178,293 718,561 158,360
INTEL CORP COMMON 458140100 89,797 1,509,194 N X 1,509,194
INTEL CORP COMMON 458140100 1,435 24,114 N X ERIS 333 23,781
INTEGRATED SYSTEMS INC COMMON 45812M104 129 11,000 N X 11,000
INTERVOICE INC COMMON 461142101 1,320 91,400 N X 91,400
INTERVOICE INC COMMON 461142101 289 20,000 N X 20,000
INTERPUBLIC GROUP COS INC COMMON 4606901 363 4,800 N X 4,800
ISB FINANCIAL CORP LA COMMON 450091103 430 20,000 N X 20,000
ITLA CAPITAL CORPORATION COMMON 450565106 1,458 92,600 N X 92,600
ITLA CAPITAL CORPORATION COMMON 450565106 277 17,600 N X 17,600
JABIL CIRCUIT INC. COMMON 466313103 1,611 35,700 N X 35,700
JABIL CIRCUIT INC. COMMON 466313103 226 5,000 N X 5,000
JOHNSON & JOHNSON COMMON 47816010 1,512 15,429 N X 8,799 6,305 325
_______________
PAGE COLUMN TOTALS 424,713
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 12
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
JOHNSON & JOHNSON COMMON 47816010 2,723 27,789 N X 27,789
MORGAN J P & CO INC COMMON 616880100 4,891 34,814 N X 4,820 29,994
MORGAN J P & CO INC COMMON 616880100 14,331 102,000 N X 102,000
KEANE CORP COMMON 486665102 1,075 47,500 N X 47,500
KEYCORP NEW COMMON 493267108 13,171 410,000 N X 410,000
KEYCORP NEW COMMON 493267108 34,523 1,074,649 N X 1,074,649
KINAM GOLD INC SER B 3.75 PREFER 494482201 438 13,134 N X 13,134
COCA COLA CO COMMON 19121610 507 8,172 N X 672 7,500
COCA COLA CO COMMON 19121610 2,595 41,861 N X 41,861
KELLY OIL & GAS COMMON 487906109 5 25,000 N X 25,000
KRONOS INC. COMMON 501052104 2,007 44,100 N X 44,100
KRONOS INC. COMMON 501052104 228 5,000 N X 5,000
TELE COMMU INC NEW LIB MED COMMON 87924V507 243 6,611 N X 6,611
LEADER UNIVERSAL HOLDINGS COMMON MY0008819 7 20,000 N X 20,000
LEGGETT & PLATT COMMON 52466010 451 16,200 N X 16,200
LIGAND PARMACEUTICALS INC COMMON 53220K207 367 33,000 N X 33,000
LIGAND PARMACEUTICALS INC COMMON 53220K207 111 10,000 N X 10,000
LIFECELL CORP COMMON 531927101 309 75,000 N X 75,000
LILLY ELI & CO. COMMON 532457108 667 9,314 N X 9,314
LORAL SPACE & COMMUNICATIO COMMON G56462107 306 17,000 N X 17,000
LIFEPOINT HOSPITALS COMMON 53219L109 233 17,363 N X 17,363
LASALLE RE HLDGS COMMON G5383Q101 2,011 118,300 N X 8,400 85,900 24,000
LASALLE RE HLDGS COMMON G5383Q101 1,982 116,600 N X 116,600
LUCENT TECHNOLOGIES COMMON 549463107 2,737 40,584 N X 384 40,200
LSI INDUSTRIES INC COMMON 50216C108 1,906 79,000 N X 79,000
LSI INDUSTRIES INC COMMON 50216C108 314 13,000 N X 13,000
MACERICH COMPANY COMMON 554382101 263 10,000 N X 10,000
MATTEL INC COMMON 577081102 52,142 1,995,860 N X 382,833 1,590,107 22,920
MATTEL INC COMMON 577081102 76,776 2,938,803 N X 2,938,803
MATTEL INC COMMON 577081102 1,321 50,583 N X ERIS 858 49,725
MBF CAPITAL COMMON MY0001234 4 20,000 N X 20,000
MCDONALDS CORP COMMON 580135101 1,216 29,574 N X 800 28,774
MCDONALDS CORP COMMON 580135101 1,073 26,100 N X 26,100
MEDTRONIC, INC COMMON 585055106 296 3,800 N X 3,800
MEDIMMUNE INC COMMON 584699102 2,459 36,300 N X 36,300
MEDIMMUNE INC COMMON 584699102 203 3,000 N X 3,000
MELLON BANK CORP COMMON 585509102 298 8,200 N X 8,200
_______________
PAGE COLUMN TOTALS 224,191
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 13
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
MANUFACTURED HOUSING COMMON 564682102 390 15,000 N X 15,000
MICHAEL FOODS INC COMMON 594079105 1,355 57,650 N X 57,650
MICHAEL FOODS INC COMMON 594079105 294 12,500 N X 12,500
MUELLER INDUSTRIES INC. COMMON 624756102 1,408 41,500 N X 41,500
MILLENIUM PHARMACEUTICALS COMMON 599902103 486 13,500 N X 13,500
MINNESOTA MNG & MFG CO COMMON 60405910 204 2,350 N X 2,350
PHILIP MORRIS COS INC COMMON 718154107 5,133 127,722 N X 1,000 126,722
PHILIP MORRIS COS INC COMMON 718154107 1,111 27,640 N X 27,640
MOBIL CORP COMMON 60705910 397 4,017 N X 4,017
MOBIL CORP COMMON 60705910 8,120 82,228 N X 82,228
MERCANTILE BANKSHARES CORP COMMON 587405101 1,151 32,550 N X 32,550
MERCANTILE BANKSHARES CORP COMMON 587405101 247 6,993 N X 6,993
MERCK & CO INC COMMON 589331107 1,175 15,963 N X 1,520 14,443
MERCK & CO INC COMMON 589331107 1,866 25,349 N X 25,349
MERRILL CORPORATION COMMON 590175105 235 16,200 N X 16,200
USX-MARATHON GROUP NEW COMMON 902905827 1,703 52,300 N X 52,300
MEDICIS PHARMACEUTICAL - C COMMON 584690309 566 22,300 N X 22,300
MEDICIS PHARMACEUTICAL - C COMMON 584690309 287 11,300 N X 11,300
MICROSOFT CORP COMMON 594918104 8,601 95,364 N X 4,800 90,564
MICROSOFT CORP COMMON 594918104 615 6,824 N X 6,824
MICROSOFT CUM $2.75 PFD SE PREFER 594918203 1,339 13,400 N X 13,400
MICROSOFT CUM $2.75 PFD SE PREFER 594918203 8,365 83,700 N X 83,700
MONSANTO CO COMMON 611662107 272 6,880 N X 6,880
MERCANTILE BANCORP COMMON 587342106 1,259 22,032 N X 22,032
METALCLAD CORP COMMON 591142104 6 33,000 N X 33,000
MTS SYSTEMS CORP COMMON 553777103 620 50,900 N X 50,900
MTS SYSTEMS CORP COMMON 553777103 160 13,100 N X 13,100
MORGAN STANLEY DEAN WITTER COMMON 617446448 1,710 16,664 N X 264 16,400
MORGAN STANLEY DEAN WITTER COMMON 617446448 499 4,860 N X 4,860
MAIL WELL INC COMMON 560321200 3,165 195,550 N X 195,550
MAIL WELL INC COMMON 560321200 801 49,500 N X 49,500
NAVISTAR INTL COMMON 63934E108 13,451 269,024 N X 18,050 234,374 16,600
NAVISTAR INTL COMMON 63934E108 27,809 556,189 N X 556,189
NOBLE AFFILIATES COMMON 654894104 4,839 171,670 N X 1,801 169,870
NOBLE AFFILIATES COMMON 654894104 10,099 358,287 N X 358,287
NBS TECHNOLOGIES INC COMMON 628933103 12 13,500 N X 13,500
Natl City Bancorp. COMMON 635312101 228 10,900 N X 10,900
_______________
PAGE COLUMN TOTALS 109,979
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 14
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
NCO GROUP INC. COMMON 628858102 1,246 32,800 N X 32,800
NCO GROUP INC. COMMON 628858102 228 6,000 N X 6,000
NCR CORP NEW COMMON 62886E108 13,937 285,512 N X 76,857 179,655 29,000
NCR CORP NEW COMMON 62886E108 13,158 269,563 N X 269,563
NCI BUILDING SYS COMMON 628852105 983 46,006 N X 46,006
NCI BUILDING SYS COMMON 628852105 271 12,700 N X 12,700
NATIONAL DATA CORP COMMON 635621105 214 5,000 N X 5,000
NEWMONT MNG CORP COMMON 651639106 1,336 67,220 N X 67,220
NEOPLANET COMMON 123456 N/A 15,000 N X 15,000
NFO WORLDWIDE INC COMMON 62910N108 490 35,000 N X 35,000
NFO WORLDWIDE INC COMMON 62910N108 490 35,000 N X 35,000
KNIGHT TRIMARK COMMON 499067106 3,806 62,400 N X 62,400
KNIGHT TRIMARK COMMON 499067106 366 6,000 N X 6,000
NATIONAL COMPUTER SYS INC. COMMON 635519101 1,445 42,800 N X 42,800
NATIONAL COMPUTER SYS INC. COMMON 635519101 270 8,000 N X 8,000
NETPLEX GROUP INC COMMON 641147103 42 12,638 N X 12,638
NOKIA CORP. COMMON 654902204 2,198 24,000 N X 24,000
NORTHEAST UTILITIES COMMON 664397106 340 19,000 N X 19,000
NEWS CORP LTD COMMON 652487703 1,024 29,000 N X 29,000
NEXSTAR PHARMACEUTICALS COMMON 65333B106 407 20,400 N X 20,400
OGLEBAY NORTON CO COMMON 677007106 467 21,000 N X 21,000
OMNICOM GROUP COMMON 681919106 392 4,900 N X 4,900
OMNIPOINT CORP COMMON 68212D102 3,136 108,371 N X 108,371
ONTOGENY SIRCOM ONTOGENY 900 360,000 N X 360,000
ONTOGENY SIRCOM ONTOGENY 100 40,000 N X 40,000
OPTA FOOD INGREDIENTS COMMON 68381N105 32 10,000 N X 10,000
OBJECTIVE SYSTEMS INTEG COMMON 674424106 41 15,000 N X 15,000
OSI PHARMACEUTICALS,INC. COMMON 671040103 85 20,000 N X 20,000
OSI PHARMACEUTICALS,INC. COMMON 671040103 106 25,000 N X 25,000
PITNEY-BOWES INC COMMON 724479100 5,175 80,550 N X 3,500 77,050
PITNEY-BOWES INC COMMON 724479100 201 3,132 N X 3,132
PROVIDENT BNKSHS CORP COMMON 743859100 226 9,700 N X 9,700
PBOC HOLDINGS INC COMMON 69316G108 100 10,000 N X 10,000
PRICELINE DOT COM INC. COMMON 741503106 231 2,000 N X 2,000
PROTEIN DESIGN LABS INC. COMMON 74369L103 1,216 54,800 N X 54,800
PROTEIN DESIGN LABS INC. COMMON 74369L103 499 22,500 N X 22,500
PREMIER FINANCIAL BANCORP COMMON 74050M105 217 15,750 N X 15,750
_______________
PAGE COLUMN TOTALS 55,375
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 15
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
PFIZER INC COMMON 717081103 11,571 106,155 N X 4,518 6,393 95,244
PFIZER INC COMMON 717081103 163 1,495 N X 1,495
PFIZER INC COMMON 717081103 664 6,088 N X 6,088
PROCTER & GAMBLE CO COMMON 74271810 214 2,400 N X 2,400
PERSONNEL GROUP OF AMERICA COMMON 715338109 1,033 103,250 N X 103,250
PERSONNEL GROUP OF AMERICA COMMON 715338109 208 20,800 N X 20,800
PHYCOR, INC COMMON 71940F100 74 10,000 N X 10,000
Protective Life COMMON 743674103 1,129 33,200 N X 33,200
Protective Life COMMON 743674103 265 7,800 N X 7,800
PROLOGIS COMMON 743410102 1,277 63,049 N X 8,000 55,049
PROLOGIS COMMON 743410102 1,967 97,152 N X 97,152
PENNSYLVANIA ENTERPRISES COMMON 708720107 430 14,000 N X 300 13,700
PENNSYLVANIA ENTERPRISES COMMON 708720107 10,557 344,000 N X 344,000
PATINA OIL & GAS CORP COMMON 703224105 63 10,000 N X 10,000
PHARMACEUTICAL PRODUCT DEV COMMON 717124101 917 33,500 N X 33,500
PPG INDUSTRIES INC COMMON 693506107 550 9,308 N X 9,308
PEPSI COLA PUERTO RICO COMMON 713434108 220 40,000 N X 40,000
POLAROID COMMON 731095105 8,600 312,744 N X 46,964 249,680 16,100
POLAROID COMMON 731095105 22,817 829,702 N X 829,702
PARTNER RE LTD COMMON G6852T105 58,063 1,553,535 N X 350,046 1,044,719 158,770
PARTNER RE LTD COMMON G6852T105 81,883 2,190,844 N X 2,190,844
PARTNER RE LTD COMMON G6852T105 957 25,610 N X ERIS 929 24,681
Progress Software Corp. COMMON 743312100 1,540 54,500 N X 54,500
Progress Software Corp. COMMON 743312100 339 12,000 N X 12,000
PRESSTEK COMMON 741113104 N/A 2,680 N X 2,680
PATHWAYS GROUP INC COMMON 70321D106 66 10,000 N X 10,000
PRISON REALTY CORP COMMON 74264N105 1,094 111,475 N X 111,475
PRISON REALTY CORP COMMON 74264N105 1,302 132,700 N X 132,700
QWEST COMMUNICATIONS INTL COMMON 749121109 547 16,540 N X 1,100 15,440
QWEST COMMUNICATIONS INTL COMMON 749121109 4,042 122,260 N X 122,260
RENAL CARE GROUP INC. COMMON 759930100 859 33,200 N X 33,200
ROYAL DUTCH PETE NY REGIST COMMON 780257804 2,187 36,300 N X 36,300
ROWAN COMPANIES INC. COMMON 779382100 1,825 100,000 N X 100,000
RADIAN GROUP INC COMMON 750236101 833 17,064 N X 17,064
RELIANT ENERGY INCORP COMMON 75952J108 594 21,500 N X 1,500 20,000
RELIANT ENERGY INCORP COMMON 75952J108 2,595 93,944 N X 93,944
REYNOLDS METALS CO COMMON 761763101 429 7,270 N X 70 1,100 6,100
_____________
PAGE COLUMN TOTALS 221,873
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 16
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
REYNOLDS METALS CO COMMON 761763101 2,173 36,825 N X 36,825
RENAISSANCERE HOLDINGS LTD COMMON G7496G103 400 10,800 N X 10,800
RENAISSANCERE HOLDINGS LTD COMMON G7496G103 5,165 139,600 N X 139,600
ROBOTIC VISION SYSTEMS INC COMMON 771074102 404 107,609 N X 107,609
RELIANCE STEEL & ALUMINUM COMMON 759509102 1,880 48,201 N X 48,201
RELIANCE STEEL & ALUMINUM COMMON 759509102 304 7,800 N X 7,800
ROSLYN BANCORP INC. COMMON 778162107 648 37,700 N X 37,700
ROSLYN BANCORP INC. COMMON 778162107 278 16,200 N X 16,200
RAYTHEON CO - CLASS B COMMON 755111408 212 3,000 N X 3,000
RAYTHEON CO CLASS A COMMON 755111309 1,736 25,211 N X 2,051 23,159
RAYTHEON CO CLASS A COMMON 755111309 172 2,500 N X 2,500
RAYTHEON CO CLASS A COMMON 755111309 981 14,236 N X 14,236
REUTERS GROUP PLC ADR COMMON 76132M102 211 2,599 N X 2,599
SANGSTAT MEDICAL CORP COMMON 801003104 1,587 92,000 N X 92,000
SBC COMMUNICATIONS INC COMMON 78387G103 2,786 48,030 N X 48,030
SMITHKLINE BEECHAM ADR COMMON 832378301 11,187 169,345 N X 13,736 155,609
SMITHKLINE BEECHAM ADR COMMON 832378301 48,200 729,605 N X 729,605
SMITHKLINE BEECHAM ADR COMMON 832378301 449 6,802 N X ERIS 6,802
SEIBELS BRUCE GROUP INC COMMON 816006209 175 35,000 N X 35,000
Security Capital Group - B COMMON 81413P204 1,019 70,000 N X 5,000 65,000
SOUTHDOWN INC. COMMON 841297104 1,838 28,600 N X 28,600
SOUTHDOWN INC. COMMON 841297104 360 5,600 N X 5,600
SMITHFIELD FOODS COMMON 832248108 722 21,600 N X 21,600
SMITHFIELD FOODS COMMON 832248108 338 10,100 N X 10,100
SPEARS GRISANTI & BROWN LL SINMOT SGBLLC 600 6,000 N X 6,000
SCHERING PLOUGH CORP COMMON 806605101 11,076 210,970 N X 11,300 199,670
SCHERING PLOUGH CORP COMMON 806605101 3,731 71,072 N X 71,072
SIGMA DESIGNS INC COMMON 826565103 61 10,000 N X 10,000
SAKS INCORPORATED COMMON 79377W108 24,405 845,203 N X 192,132 653,071
SAKS INCORPORATED COMMON 79377W108 29,163 1,009,961 N X 1,009,961
SAKS INCORPORATED COMMON 79377W108 529 18,324 N X ERIS 461 17,863
SCHLUMBERGER LTD COMMON 806857108 420 6,600 N X 6,600
SARA LEE CORP COMMON 803111103 1,833 80,800 N X 80,800
SL GREEN REALTY CORP COMMON 78440X101 204 10,000 N X 10,000
ANCHOR GAMING COMMON 033037102 1,427 29,700 N X 29,700
ANCHOR GAMING COMMON 033037102 288 6,000 N X 6,000
SYNOPSYS INC. COMMON 871607107 7,077 128,228 N X 18,854 98,174 11,200
_______________
PAGE COLUMN TOTALS 164,039
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 17
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
SYNOPSYS INC. COMMON 871607107 8,572 155,334 N X 155,334
SOUTH TRUST CORP COMMON 84473010 3,546 92,401 N X 92,401
SOVEREIGN BANCORP INC SER COMMON 845905108 142 11,701 N X 11,701
SIMON PPTY GROUP INC. NEW COMMON 828806109 24,506 965,765 N X 248,547 717,218
SIMON PPTY GROUP INC. NEW COMMON 828806109 25,802 1,016,836 N X 1,016,836
SIMON PPTY GROUP INC. NEW COMMON 828806109 654 25,757 N X ERIS 728 25,029
SPIEKER PROPERTIES COMMON 848497103 384 9,868 N X 5,000 4,868
CHARLES E SMITH RESIDENTIA COMMON 832197107 1,052 31,000 N X 13,000 18,000
SMARTSERVE ONLINE, INC-WTS COMMON 83169MWTS 230 230 N X 230
SUNTRUST BANKS INC COMMON 86791410 1,090 15,700 N X 10,700 5,000
SUNTRUST BANKS INC COMMON 86791410 1,750 25,200 N X 25,200
SERVICEMASTER CO COMMON 81760N109 1,114 59,437 N X 1,687 57,750
SAVOIR TECHNOLOGY GROUP IN COMMON 80533W107 1,035 110,400 N X 110,400
SAVOIR TECHNOLOGY GROUP IN COMMON 80533W107 281 30,000 N X 30,000
SYSCO CORP COMMON 871829107 262 8,800 N X 8,800
SYSCO CORP COMMON 871829107 215 7,200 N X 7,200
AT&T COMMON 001957109 9,477 169,804 N X 8,270 33,284 128,250
AT&T COMMON 001957109 2,538 45,483 N X 45,483
TASTY BAKING CO COMMON 87655330 346 28,125 N X 28,125
TIMBERLAND COMPANY CL-A COMMON 887100105 660 9,700 N X 9,700
TIMBERLAND COMPANY CL-A COMMON 887100105 293 4,300 N X 4,300
NATIONAL GOLF PROPERTIES I COMMON 63623G109 666 27,400 N X 27,400
NATIONAL GOLF PROPERTIES I COMMON 63623G109 287 11,800 N X 11,800
Triumph Group Inc. COMMON 896818101 507 19,900 N X 19,900
Triumph Group Inc. COMMON 896818101 281 11,000 N X 11,000
TENET HEALTHCARE CORP. COMMON 88033G100 30,070 1,619,929 N X 325,804 1,294,125
TENET HEALTHCARE CORP. COMMON 88033G100 34,896 1,879,900 N X 1,879,900
TENET HEALTHCARE CORP. COMMON 88033G100 778 41,938 N X ERIS 741 41,197
TIFFANY & CO COMMON 886547108 449 4,650 N X 4,650
THOMAS INDUSTRIES COMMON 884425109 722 35,200 N X 35,200
THOMAS INDUSTRIES COMMON 884425109 238 11,600 N X 11,600
TEEKAY SHIPPING CORP. COMMON V89564104 296 16,800 N X 100 5,500 11,200
TEEKAY SHIPPING CORP. COMMON V89564104 1,199 68,000 N X 68,000
TELLABS INC. COMMON 879664100 203 3,000 N X 3,000
TECHNITROL INC. COMMON 878555101 1,419 44,000 N X 44,000
TECHNITROL INC. COMMON 878555101 290 9,000 N X 9,000
TREGA BIOSCIENCES INC. COMMON 894699107 69 41,700 N X 41,700
_______________
PAGE COLUMN TOTALS 156,320
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 18
----------------------------------------------------------------------------------------------------------------------------------
VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
TREGA BIOSCIENCES INC. COMMON 894699107 39 23,600 N X 23,600
TRIAD HOSPITALS COMMON 89579K109 234 17,363 N X 17,363
TOTAL SYSTEM SERVICES, INC COMMON 891906109 418 22,000 N X 22,000
TRANSTECHNOLOGY CORP. COMMON 893889105 447 22,700 N X 22,700
AUTO TOTE CORPORATION COMMON 053323101 95 40,000 N X 40,000
TROJAN TECHNOLIGES INC COMMON 896924107 2,170 80,074 N X 80,074
TOWER AUTOMOTIVE INC. COMMON 891707101 201 7,900 N X 7,900
TWEETER HOMES ENTERTAINMEN COMMON 901167106 1,425 36,300 N X 36,300
TIME WARNER INC COMMON 887315109 1,315 18,110 N X 250 17,860
TIME WARNER INC COMMON 887315109 2,570 35,387 N X 35,387
TEXACO INC COMMON 881694103 1,771 28,385 N X 4,514 23,871
TEXACO INC COMMON 881694103 27,426 439,700 N X 439,700
TEXTRON INC. CORP COMMON 883203101 4,579 55,634 N X 55,634
TEXAS UTILITIES COMMON 882848104 25,208 608,337 N X 86,410 521,927
TEXAS UTILITIES COMMON 882848104 29,246 705,788 N X 705,788
TEXAS UTILITIES COMMON 882848104 507 12,230 N X ERIS 134 12,096
TRIZECHAHN COMMON 896938107 538 26,100 N X 26,100
UNOCAL CORP COMMON 915289102 43,791 1,105,146 N X 215,014 890,132
UNOCAL CORP COMMON 915289102 52,260 1,318,852 N X 1,318,852
UNOCAL CORP COMMON 915289102 938 23,662 N X ERIS 552 23,110
UTILICORP UNITED COMMON 918005109 292 12,000 N X 12,000
ULTRAMAR DIAMOND SHAMROCK COMMON 904000106 210 9,622 N X 9,622
UNIVERSAL HEALTH SERVICES COMMON 913903100 1,970 41,250 N X 41,250
UNIVERSAL HEALTH SERVICES COMMON 913903100 430 9,000 N X 9,000
MEDIAONE GROUP INC COM COMMON 58440J104 73,181 983,941 N X 206,268 768,473 9,200
MEDIAONE GROUP INC COM COMMON 58440J104 110,472 1,485,333 N X 1,485,333
MEDIAONE GROUP INC COM COMMON 58440J104 1,334 17,935 N X ERIS 475 17,460
UNIFIRST CORP. COMMON 904708104 1,445 78,650 N X 78,650
UNIFIRST CORP. COMMON 904708104 246 13,400 N X 13,400
UNITED HEALTHCARE CORP COMMON 910581107 1,342 21,435 N X 21,435
UNUM CORP COMMON 903192102 424 7,750 N X 7,750
UNION PAC RES COMMON 907834105 1,243 76,221 N X 11,800 64,421
UNION PAC RES COMMON 907834105 5,357 328,404 N X 328,404
URS CORP. COMMON 903236107 1,989 67,850 N X 67,850
URS CORP. COMMON 903236107 337 11,500 N X 11,500
U S WEST INC NEW COM COMMON 91273H101 33,490 570,041 N X 133,357 436,684
U S WEST INC NEW COM COMMON 91273H101 306 5,200 N X 5,200
_______________
PAGE COLUMN TOTALS 429,239
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 19
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
U S WEST INC NEW COM COMMON 91273H101 37,240 633,871 N X 633,871
U S WEST INC NEW COM COMMON 91273H101 711 12,102 N X ERIS 363 11,739
UNITED TECHNOLOGIES CORP COMMON 91301710 455 6,320 N X 6,320
VANS INC COMMON 921930103 115 10,000 N X 10,000
VIACOM INC CL B COMMON 925524308 395 8,982 N X 8,982
VORNADO REALTY TRUST COMMON 929042109 518 14,670 N X 14,670
VODAFONE AIRTOUCH PLC-SP A COMMON 92857T107 216 1,096 N X 1,096
VISHAY INTERTECHNOLOGY INC COMMON 928298108 23,525 1,120,250 N X 160,763 959,487
VISHAY INTERTECHNOLOGY INC COMMON 928298108 32,311 1,538,595 N X 1,538,595
VISHAY INTERTECHNOLOGY INC COMMON 928298108 768 36,601 N X ERIS 30 36,571
VISIO CORPORATION COMMON 927914101 1,854 48,700 N X 48,700
VISIO CORPORATION COMMON 927914101 217 5,700 N X 5,700
VERTEX COMMUNICATIONS CORP COMMON 925320103 1,048 76,600 N X 76,600
VERTEX COMMUNICATIONS CORP COMMON 925320103 178 13,000 N X 13,000
WESTVACO CORP COMMON 96154810 325 11,200 N X 11,200
WARNACO GROUP-CL A COMMON 934390105 33,018 1,234,317 N X 242,066 992,251
WARNACO GROUP-CL A COMMON 934390105 24,930 931,945 N X 931,945
WARNACO GROUP-CL A COMMON 934390105 439 16,405 N X ERIS 628 15,777
WALGREEN CO COMMON 931422109 476 16,200 N X 16,200
TETRA TECH INC. COMMON 88162G103 1,145 69,375 N X 69,375
TETRA TECH INC. COMMON 88162G103 227 13,750 N X 13,750
WACHOVIA CORP COMMON 92977110 144 1,678 N X 1,678
WACHOVIA CORP COMMON 92977110 274 3,200 N X 3,200
WACHOVIA CORP COMMON 92977110 523 6,109 N X 6,109
WEBB (DEL) CORP. COMMON 947423109 497 20,800 N X 20,800
WEBB (DEL) CORP. COMMON 947423109 2,450 102,600 N X 102,600
MCI WORLDCOM, INC COMMON 55268B106 41,299 479,874 N X 57,169 400,619 22,086
MCI WORLDCOM, INC COMMON 55268B106 327 3,800 N X 3,800
MCI WORLDCOM, INC COMMON 55268B106 81,588 948,010 N X 948,010
MCI WORLDCOM, INC COMMON 55268B106 926 10,758 N X ERIS 111 10,647
WALDEN RESIDENTIAL PROPS I COMMON 931210108 215 10,000 N X 10,000
WESTFIELD AMERICA COMMON 959910100 979 65,000 N X 65,000
WELLS FARGO & CO COMMON 949746101 2,646 61,896 N X 61,896
WOMEN FIRST HEALTHCARE INC COMMON 978150100 1,179 89,000 N X 89,000
WOMEN FIRST HEALTHCARE INC COMMON 978150100 2,796 211,000 N X 211,000
WASHINGTON GAS LT CO COMMON 93883710 1,118 43,000 N X 43,000
WHITECAP COMMON 963505102 874 74,000 N X 74,000
_______________
PAGE COLUMN TOTALS 297,943
FORM 13F 06/30/1999
REPORTING MANAGER: SPEARS BENZAK SALOMON & FARRELL PAGE 20
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VALUATION CURRENCY: USD
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OF INVEST. DISC. MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(X1000) (A) (B) (C) (A) (B) (C)
----------------------------------------------------------------------------------------------------------------------------------
ENCORE WIRE COMMON 292562105 353 39,000 N X 39,000
WARNER LAMBERT CO COMMON 934488107 32,517 470,412 N X 105,550 364,862
WARNER LAMBERT CO COMMON 934488107 97 1,400 N X 1,400
WARNER LAMBERT CO COMMON 934488107 35,772 517,495 N X 517,495
WARNER LAMBERT CO COMMON 934488107 669 9,672 N X ERIS 276 9,396
WASHINGTON MUTUAL INC COMMON 939322103 39,166 1,101,323 N X 243,220 858,103
WASHINGTON MUTUAL INC COMMON 939322103 44,144 1,241,317 N X 1,241,317
WASHINGTON MUTUAL INC COMMON 939322103 847 23,830 N X ERIS 637 23,193
WAL-MART STORES COMMON 931142103 724 15,000 N X 15,000
WAL-MART STORES COMMON 931142103 290 6,000 N X 6,000
WASTE MANAGEMENT INC COMMON 94106K101 668 16,015 N X 16,015
WYNN'S INTERNATIONAL INC. COMMON 983195108 1,676 90,900 N X 90,900
WYNN'S INTERNATIONAL INC. COMMON 983195108 323 17,500 N X 17,500
WESTWOOD ONE COMMON 961815107 3,598 100,815 N X 100,815
WASHINGTON POST CO CL B COMMON 939640108 901 1,675 N X 1,675
WASHINGTON POST CO CL B COMMON 939640108 13,862 25,778 N X 25,778
WATSCO INC. COMMON 942622200 614 37,500 N X 37,500
WATSCO INC. COMMON 942622200 278 17,000 N X 17,000
XL CAPITAL LTD COMMON G98255105 14,537 257,289 N X 81,777 175,512
XL CAPITAL LTD COMMON G98255105 21,730 384,609 N X 384,609
XL CAPITAL LTD COMMON G98255105 277 4,907 N X ERIS 250 4,657
EXXON CORP COMMON 302290101 4,927 63,888 N X 1,120 10,768 52,000
EXXON CORP COMMON 302290101 8,186 106,139 N X 106,139
YAHOO! INC. COMMON 984332106 517 3,000 N X 3,000
_______________
PAGE COLUMN TOTALS 226,673
_______________
AGGREGATE COLUMN TOTALS 4,803,550
</TABLE>
