United States Securities & Exchange Commission
Washington, DC 20549
Form 13 F Cover Page
Quarter Ended: 03/31/2000
Investment Manager: H. M. Payson & Co.
Address: P. O. Box 31
Portland, ME 04112
13F File Number: 28-4422
Signer: John C. Downing, Managing Dir
Title: Managing Director
Phone: 207-772-3761
Signature, Place and Date of Signing:
John C. Downing Portland, ME May 10, 2000
Report Type: 13F Holdings Report
I am signing this report as required by the
Securities Exchange Act of 1934
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Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 220
Form 13F Information Table Value Total: 398,234
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<TABLE> <C> <C>
Invt Votg
Security Class Cusip Mkt Value Quantity Disc Auth
AT&T CORP Com 001957109 7,085 125,812 Sole Sole
ABBOTT LABS Com 002824100 8,092 229,978 Sole Sole
AIR PRODS & CHEMS INC Com 009158106 1,298 45,634 Sole Sole
ALBERTSONS INC Com 013104104 1,079 34,940 Sole Sole
ALLEGHENY ENERGY INC Com 017361106 563 20,330 Sole Sole
ALLSTATE CORP Com 020002101 608 25,512 Sole Sole
ALLTEL CORP Com 020039103 208 3,285 Sole Sole
AMEREN CORP Com 023608102 276 8,934 Sole Sole
AMERICAN EXPRESS CO Com 025816109 1,962 13,172 Sole Sole
AMERICAN HOME PRODS CORP Com 026609107 8,576 159,554 Sole Sole
AMERICAN INTL GROUP INC Com 026874107 1,166 10,646 Sole Sole
AMGEN INC Com 031162100 321 5,236 Sole Sole
ANHEUSER BUSCH COS INC Com 035229103 817 13,121 Sole Sole
APPLE COMPUTER INC Com 037833100 1,048 7,720 Sole Sole
APPLIED MATLS INC Com 038222105 2,032 21,560 Sole Sole
ARCHSTONE CMNTYS TR Com 039581103 1,296 64,993 Sole Sole
ASSOCIATES FIRST CAP CORP Com 046008108 725 33,926 Sole Sole
ATLANTIC RICHFIELD CO Com 048825103 3,463 40,741 Sole Sole
AUTOMATIC DATA PROCESSING Com 053015103 281 5,827 Sole Sole
BP AMOCO PLC SPONSORED Com 055622104 2,982 55,993 Sole Sole
BAIRNCO CORP Com 057097107 101 14,500 Sole Sole
BANK AMER CORP Com 060505104 308 5,869 Sole Sole
BANK NEW YORK INC Com 064057102 994 23,924 Sole Sole
BANK ONE CORP NEW Com 06423A103 1,128 32,805 Sole Sole
BANTA CORP Com 066821109 386 20,995 Sole Sole
BECTON DICKINSON & CO Com 075887109 414 15,744 Sole Sole
BELL ATLANTIC CORP Com 077853109 3,111 50,890 Sole Sole
BELLSOUTH CORP Com 079860102 2,979 63,553 Sole Sole
BERKSHIRE HATHAWAY INC Com 084670207 586 322 Sole Sole
BESTFOODS Com 08658U101 5,552 118,608 Sole Sole
BOEING CO Com 097023105 318 8,407 Sole Sole
BOISE CASCADE CORP Com 097383103 262 7,530 Sole Sole
BRISTOL MYERS SQUIBB CO Com 110122108 9,540 164,477 Sole Sole
BRITISH TELECOM PLC ADR Com 111021408 488 2,595 Sole Sole
BRUNSWICK CORP Com 117043109 1,525 80,530 Sole Sole
CFW COMMUNICATIONS CO Com 124923103 369 9,360 Sole Sole
CIGNA CORP Com 125509109 246 3,245 Sole Sole
CVS CORP Com 126650100 396 10,549 Sole Sole
CAROLINA PWR & LT CO Com 144141108 577 17,782 Sole Sole
CENTRAL & SOUTH WEST CORP Com 152357109 197 11,499 Sole Sole
CHASE MANHATTAN CORP NEW Com 16161A108 3,501 40,160 Sole Sole
CHEVRON CORP Com 166751107 2,100 22,722 Sole Sole
CINERGY CORP Com 172474108 352 16,375 Sole Sole
CISCO SYS INC Com 17275R102 1,890 24,442 Sole Sole
CIRCUIT SYS INC Com 172917106 17 10,000 Sole Sole
CITIGROUP INC Com 172967101 11,001 183,732 Sole Sole
COASTAL CORP Com 190441105 827 17,978 Sole Sole
COCA COLA CO Com 191216100 1,190 25,361 Sole Sole
COLGATE PALMOLIVE CO Com 194162103 410 7,264 Sole Sole
COMCAST CORP CL A SPL Com 200300200 313 7,218 Sole Sole
COMERICA INC Com 200340107 671 16,033 Sole Sole
COMPAQ COMPUTER CORP Com 204493100 6,785 251,287 Sole Sole
COMPUTER SCIENCES CORP Com 205363104 1,608 20,320 Sole Sole
CONOCO INC CL B Com 208251405 796 31,057 Sole Sole
CONSECO INC Com 208464107 137 12,010 Sole Sole
COOPER CAMERON CORP Com 216640102 502 7,505 Sole Sole
CORNING INC Com 219350105 459 2,364 Sole Sole
DANA CORP Com 235811106 899 31,885 Sole Sole
DISNEY WALT CO Com 254687106 2,643 64,082 Sole Sole
DOVER CORP Com 260003108 867 18,105 Sole Sole
DOW CHEM CO Com 260543103 1,022 8,961 Sole Sole
DU PONT E I DE NEMOURS & Com 263534109 1,427 26,959 Sole Sole
E M C CORP MASS Com 268648102 227 1,800 Sole Sole
ENSCO INTL INC Com 26874Q100 2,669 73,870 Sole Sole
EASTMAN KODAK CO Com 277461109 400 7,372 Sole Sole
EDWARDS A G INC Com 281760108 432 10,799 Sole Sole
EMERSON ELEC CO Com 291011104 1,282 24,136 Sole Sole
ENDESA S A SPONSORED ADR Com 29258N107 686 29,285 Sole Sole
ENERGEN CORP Com 29265N108 391 24,550 Sole Sole
ENRON CORP Com 293561106 227 3,028 Sole Sole
EQUITY RESIDENTIAL PPTYS Com 29476L107 740 18,422 Sole Sole
EUROPAC GROWTH FD SH BEN Com 298706102 291 6,526 Sole Sole
EXXON MOBIL CORP Com 30231G102 21,718 278,655 Sole Sole
FPL GROUP INC Com 302571104 665 14,432 Sole Sole
FEDERAL NATL MTG ASSN Com 313586109 6,460 114,205 Sole Sole
FEDERATED DEPT STORES INC Com 31410H101 355 8,400 Sole Sole
FIFTY ASSOC Com 316801109 503 17,350 Sole Sole
FIRST UN CORP Com 337358105 308 8,275 Sole Sole
FIRST VA BKS INC Com 337477103 1,033 27,500 Sole Sole
FLEETBOSTON FINL CORP Com 339030108 2,887 79,096 Sole Sole
FLEETWOOD ENTERPRISES INC Com 339099103 2,041 138,344 Sole Sole
FLUOR CORP Com 343861100 363 11,700 Sole Sole
FORD MTR CO DEL Com 345370100 340 7,398 Sole Sole
FORUM FDS INC PAYSON Com 349903872 534 24,411 Sole Sole
FORUM FDS INC PAYSON Com 349903880 240 19,354 Sole Sole
FRANKLIN CUSTODIAN FDS Com 353496508 235 6,464 Sole Sole
GPU INC Com 36225X100 249 9,100 Sole Sole
GTE CORP Com 362320103 2,837 39,963 Sole Sole
GANNETT INC Com 364730101 244 3,470 Sole Sole
GENERAL ELEC CO Com 369604103 27,968 179,713 Sole Sole
GENERAL MLS INC Com 370334104 448 12,388 Sole Sole
GEORGIA PAC CORP Com 373298108 1,309 33,094 Sole Sole
GEORGIA PAC CORP TIMBER Com 373298702 751 29,319 Sole Sole
GILLETTE CO Com 375766102 329 8,728 Sole Sole
HANNAFORD BROS CO Com 410550107 5,219 70,766 Sole Sole
HARDINGE INC Com 412324303 111 10,800 Sole Sole
HARRIS CORP DEL Com 413875105 2,099 60,736 Sole Sole
HARTFORD FINL SVCS GROUP Com 416515104 1,032 19,571 Sole Sole
HEINZ H J CO Com 423074103 292 8,375 Sole Sole
HEWLETT PACKARD CO Com 428236103 6,762 50,887 Sole Sole
HIGHWOODS PPTYS INC Com 431284108 217 10,135 Sole Sole
HOME DEPOT INC Com 437076102 327 5,071 Sole Sole
HONEYWELL INTL INC Com 438516106 327 6,212 Sole Sole
HUNTINGTON BANCSHARES INC Com 446150104 579 25,896 Sole Sole
ITT INDUSTRIES INC Com 450911102 504 16,230 Sole Sole
ILLINOIS TOOL WKS INC Com 452308109 387 7,002 Sole Sole
INTEL CORP Com 458140100 17,404 131,910 Sole Sole
INTERNATIONAL BUSINESS Com 459200101 9,497 80,483 Sole Sole
INTERNATIONAL PAPER CO Com 460146103 522 12,200 Sole Sole
INTERPUBLIC GROUP COS INC Com 460690100 260 5,500 Sole Sole
JANUS INVT FD Com 471023101 364 7,487 Sole Sole
JANUS INVT FD WORLDWIDE Com 471023309 397 4,644 Sole Sole
JOHNSON & JOHNSON Com 478160104 4,548 64,744 Sole Sole
KEYCORP NEW Com 493267108 382 20,126 Sole Sole
KIMBERLY CLARK CORP Com 494368103 640 11,424 Sole Sole
LANIER WORLDWIDE INC Com 51589L105 87 42,036 Sole Sole
LILLY ELI & CO Com 532457108 1,333 21,289 Sole Sole
LINCOLN NATL CORP Com 534187109 481 14,360 Sole Sole
LITTON INDS INC Com 538021106 1,541 34,885 Sole Sole
LOCKHEED MARTIN CORP Com 539830109 706 34,564 Sole Sole
LUCENT TECHNOLOGIES INC Com 549463107 4,345 70,935 Sole Sole
MBNA CORP Com 55262L100 1,787 70,061 Sole Sole
MCI WORLDCOM INC Com 55268B106 1,517 33,474 Sole Sole
MARSH & MCLENNAN COS INC Com 571748102 503 4,564 Sole Sole
MCDONALDS CORP Com 580135101 549 14,682 Sole Sole
MEAD CORP Com 582834107 259 7,425 Sole Sole
MEDIAONE GROUP INC Com 58440J104 2,512 31,012 Sole Sole
MEDTRONIC INC Com 585055106 1,146 22,287 Sole Sole
MELLON FINL CORP Com 58551A108 627 21,064 Sole Sole
MERCK & CO INC Com 589331107 9,857 158,658 Sole Sole
MERRILL LYNCH & CO INC Com 590188108 4,088 38,935 Sole Sole
MICROSOFT CORP Com 594918104 2,779 26,153 Sole Sole
MINNESOTA MNG & MFG CO Com 604059105 1,343 15,161 Sole Sole
MONSANTO CO Com 611662107 756 14,674 Sole Sole
MORGAN J P & CO INC Com 616880100 1,702 12,917 Sole Sole
MORGAN STANLEY DEAN Com 617446448 474 5,715 Sole Sole
MOTOROLA INC Com 620076109 1,103 7,553 Sole Sole
NATIONAL CITY CORP Com 635405103 211 10,208 Sole Sole
NEW CENTURY ENERGIES INC Com 64352U103 602 20,034 Sole Sole
NEW PLAN EXCEL RLTY TR Com 648053106 477 34,660 Sole Sole
NIKE INC CL B Com 654106103 642 16,203 Sole Sole
NOKIA CORP SPONSORED ADR Com 654902204 649 2,922 Sole Sole
NORFOLK SOUTHERN CORP Com 655844108 204 14,344 Sole Sole
NORTH FORK BANCORPORATION Com 659424105 1,088 60,891 Sole Sole
NORTHROP GRUMMAN CORP Com 666807102 1,052 19,875 Sole Sole
NSTAR Com 67019E107 390 9,277 Sole Sole
PPG INDS INC Com 693506107 244 4,672 Sole Sole
PEOPLES HERITAGE FINL Com 711147108 983 65,550 Sole Sole
PEPSICO INC Com 713448108 1,633 46,819 Sole Sole
PFIZER INC Com 717081103 5,897 161,289 Sole Sole
PHELPS DODGE CORP Com 717265102 211 4,450 Sole Sole
PHILADELPHIA SUBN CORP Com 718009608 549 30,289 Sole Sole
PHILIP MORRIS COS INC Com 718154107 1,524 72,132 Sole Sole
PHILLIPS PETE CO Com 718507106 1,416 30,616 Sole Sole
PITTSTON BRINKS GROUP Com 725701106 285 16,752 Sole Sole
PRAXAIR INC Com 74005P104 1,114 26,773 Sole Sole
PROCTER & GAMBLE CO Com 742718109 3,596 63,372 Sole Sole
PROVIDIAN FINL CORP Com 74406A102 257 2,970 Sole Sole
QUAKER OATS CO Com 747402105 1,220 20,119 Sole Sole
RALSTON - RALSTON PURINA Com 751277302 479 17,408 Sole Sole
RAYTHEON CO CL B Com 755111408 1,941 109,335 Sole Sole
REPSOL S A SPONSORED ADR Com 76026T205 545 25,590 Sole Sole
T ROWE PRICE MID-CAP Com 779556109 264 5,973 Sole Sole
ROYAL DUTCH PETE CO N Y Com 780257804 1,905 32,945 Sole Sole
RUDDICK CORP Com 781258108 1,184 108,270 Sole Sole
SBC COMMUNICATIONS INC Com 78387G103 7,658 181,792 Sole Sole
SAFEWAY INC COM NEW Com 786514208 3,026 66,866 Sole Sole
SARA LEE CORP Com 803111103 334 18,548 Sole Sole
SCHERING PLOUGH CORP Com 806605101 8,579 231,089 Sole Sole
SCHLUMBERGER LTD Com 806857108 2,839 37,114 Sole Sole
SCUDDER MANAGED MUN BDS Com 811170109 115 13,322 Sole Sole
SEARS ROEBUCK & CO Com 812387108 911 29,744 Sole Sole
SELFCARE INC Com 81631R107 68 10,000 Sole Sole
SMITHKLINE BEECHAM PLC Com 832378301 529 8,000 Sole Sole
SOUTHDOWN INC Com 841297104 1,475 24,900 Sole Sole
SOUTHERN CO Com 842587107 352 16,196 Sole Sole
SPRINGS INDS INC CL A Com 851783100 646 17,000 Sole Sole
SPRINT CORP Com 852061100 1,510 23,869 Sole Sole
SPRINT CORP PCS SER 1 Com 852061506 715 10,918 Sole Sole
STATE STR CORP Com 857477103 2,315 23,899 Sole Sole
SUN MICROSYSTEMS INC Com 866810104 545 5,820 Sole Sole
SUPERVALU INC COM Com 868536103 507 26,780 Sole Sole
TECO ENERGY INC Com 872375100 1,476 75,933 Sole Sole
TJX COMPANIES INC NEW Com 872540109 367 16,520 Sole Sole
TARGET CORP Com 87612E106 339 4,540 Sole Sole
TEKTRONIX INC Com 879131100 840 14,995 Sole Sole
TELECOM CORP NEW ZEALAND Com 879278208 431 11,760 Sole Sole
TELEFLEX INC Com 879369106 4,369 123,508 Sole Sole
TELEFONOS DE MEXICO S A Com 879403780 3,357 50,380 Sole Sole
TELEPHONE & DATA SYS INC Com 879433100 330 2,975 Sole Sole
TELLABS INC Com 879664100 1,976 31,365 Sole Sole
TENET HEALTHCARE CORP Com 88033G100 844 36,694 Sole Sole
TEXACO INC Com 881694103 3,594 66,873 Sole Sole
TEXAS INSTRS INC Com 882508104 5,606 35,037 Sole Sole
TEXTRON INC Com 883203101 2,365 38,855 Sole Sole
TIMKEN CO Com 887389104 1,206 74,185 Sole Sole
TRINITY INDS INC Com 896522109 213 8,975 Sole Sole
TYCO INTL LTD NEW Com 902124106 551 10,991 Sole Sole
USX-MARATHON GROUP NEW Com 902905827 1,409 54,075 Sole Sole
UNILEVER N V Com 904784709 885 18,383 Sole Sole
U S WEST INC NEW Com 91273H101 682 9,391 Sole Sole
UNITED TECHNOLOGIES CORP Com 913017109 4,073 64,452 Sole Sole
UNIVERSAL FOODS CORP Com 913538104 795 37,205 Sole Sole
UNUMPROVIDENT CORP Com 91529Y106 803 47,390 Sole Sole
VANGUARD EQUITY INCOME FD Com 921921102 214 9,439 Sole Sole
VARIAN INC Com 922206107 236 6,150 Sole Sole
VARIAN SEMICONDUCTOR Com 922207105 419 6,580 Sole Sole
VARIAN MED SYS INC Com 92220P105 305 6,680 Sole Sole
VODAFONE AIRTOUCH PLC Com 92857T107 1,147 20,650 Sole Sole
WACHOVIA CORP NEW Com 929771103 408 6,046 Sole Sole
WAL MART STORES INC Com 931142103 705 12,481 Sole Sole
WALGREEN CO Com 931422109 339 13,174 Sole Sole
WARNER LAMBERT CO Com 934488107 3,882 39,734 Sole Sole
WELLS FARGO & CO NEW Com 949746101 3,415 83,803 Sole Sole
WILLAMETTE INDS INC Com 969133107 2,140 53,321 Sole Sole
WILLIAMS COS INC Com 969457100 854 19,439 Sole Sole
XEROX CORP Com 984121103 556 21,403 Sole Sole
DAIMLERCHRYSLER AG Com D1668R123 280 4,279 Sole Sole
GLOBAL CROSSING LTD Com G3921A100 500 12,204 Sole Sole
TRANSOCEAN SEDCO FOREX Com G90078109 342 6,664 Sole Sole
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