-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, A7pFDJID/Zs6eIVvMQ+7RJGqyjLQMWIJlLmZbSC8Z+Pn1iN2MnE3vg1xIhDEOvYJ 34u1GozcO2HwT2iXU0Pxdw== 0001039565-99-000009.txt : 19990514 0001039565-99-000009.hdr.sgml : 19990514 ACCESSION NUMBER: 0001039565-99-000009 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990331 FILED AS OF DATE: 19990513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KAHN THOMAS GRAHAM CENTRAL INDEX KEY: 0001039565 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 132948997 FILING VALUES: FORM TYPE: 13F-HR/A SEC ACT: SEC FILE NUMBER: 028-04201 FILM NUMBER: 99619232 BUSINESS ADDRESS: STREET 1: KHAN BROTHERS & CO INC STREET 2: 555 MADISON AVENUE 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2129805050 MAIL ADDRESS: STREET 1: KAHN BROTHERS & CO INC STREET 2: 555 MADISON AVENUE 22ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 13F-HR/A 1 FORM 13F Report for the Calendar Year or Quarter Ended: March 31, 1999 This Amendment (Check only one.): is a restatement X adds new holding entries. Institutional Investment Manager Filing this Report: Name: Kahn Brothers & Co., Inc. Address: 555 Madison Ave., 22nd Floor, NY, NY, 10022 Form 13F File Number: 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: Kenneth Rodwogin Title: Vice President Phone: (212) 980-5050 Signature, Place, and Date of Signing: [Signature]/s/ Kenneth Rodwogin [City, State] New York, NY [Date] May 11, 1999 Report Type (Check only one.): 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) X 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: NONE Form 13F Information Table Entry Total: 338 Form 13F Information Table Value Total: $383,131,990 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 entires.] NONE KAHN BROTHERS & CO., INC. FORM 13F March 31, 1999 INVEST VOTING DISCR. AUTH SECURITY CLASS CUSIP MKT VALUE QTY SOLE NONE COMMON STOCK ABBOTT LABORATORIES COM 2824100 303,345 6,480 X 6,480 ACX TECH. COM 51231044 176,715 13,464 X 13,464 ADVANCED MARKETING COM 00753T105 12,692,875 976,375 X 976,375 AEGON NV ADR COM 7924103 55,004 612 X 612 AETNA LIFE & CASUALTY COM 008140105 136,120 1,640 X 1,640 AFFILIATED COMP.SVC . COM 8190100 1,226,420 26,807 X 26,807 AIRTOUCH COMM. COM 00949T100 43,481 450 X 450 ALBERMERMARLE CORP COM 12653101 346,516 16,550 X 16,550 ALCOA COM 22249106 123,563 3,000 X 3,000 ALEXANDER & BALDWIN COM 014482103 104,503 5,325 X 5,325 ALLIED IRISH BANKS COM 19228402 124,200 1,200 X 1,200 ALLERGAN INC. COM 18490102 35,150 400 X 400 ALLSTATE CORP COM 20002101 421,336 11,368 X 11,368 ALLSTATE FIN'L SVCS. COM 020011102 132,600 31,200 X 31,200 ALLSTATE 7.125% PFD 20002200 239,921 9,455 X 9,455 AMCAST INDUSTRIAL COM 023395106 206,400 12,800 X 12,800 AMEREN CORP COM 23608102 36,188 1,000 X 1,000 AMERICAN ELECTRIC PWR COM 02553701 26,472 667 X 667 AMERICAN EXPRESS COM 025816109 232,203 1,972 X 1,972 AMERICAN GENL CAPITAL PFD 02637F202 51,000 2,000 X 2,000 AMERICAN HOME PDTS. COM 022609107 13,376,089 204,998 X 204,998 AMERICA ONLINE COM 23645104 205,800 1,400 X 1,400 AMERICAN TEL & TEL COM 030177109 18,391,871 230,437 X 230,437 AT & T CAP. 8.25% PFD 00206J209 142,313 5,500 X 5,500 AMERITECH CORP. COM 030954101 303,108 5,260 X 5,260 ABN AMRO 7.5 % PFD 00371Q202 193,163 7,650 X 7,650 ANALOGIC CORP COM 032657207 32,938 1,000 X 1,000 ANNALY MORT/ COM 35710409 1,044,000 104,400 X 104,400 ANGELO AMER.GOLD LTD. COM 034870501 46,875 10,000 X 10,000 APEX MORT. CAPITAL INC COM 37564101 58,050 4,300 X 4,300 ARCHER DANIELS MIDLAND COM 039483102 454,186 30,923 X 30,923 ARCHSTONE COMM. TR. COM 39581103 358,225 17,800 X 17,800 ARTIC CAT INC COM 39670104 308,063 31,000 X 31,000 ASHLAND OIL CO. COM 044540102 557,166 13,610 X 13,610 ASTORIA FIN'L COM 46265104 1,533,300 30,667 X 30,667 AUSTRALIA & N.ZEALAND PFD 052528403 312,728 11,450 X 11,450 AUSTRALIA & N.ZEALAND PFD 1824101 665,719 26,300 X 26,300 BAKER FENTRESS CO. COM 057213100 687,665 45,654 X 45,654 BANKAMERICA COM 66050105 63,916 905 X 905 BANK OF NY PRC PFD 96564208 684,394 26,450 X 26,450 BASSETT FURNITURE COM 70203104 180,319 8,150 X 8,150 BCE INC. COM 05534B109 5,124,342 115,640 X 115,640 BELL ATLANTIC COM 77853109 268,465 5,194 X 5,194 BELLSOUTH CORP COM 79860102 387,565 9,674 X 9,674 BOWL AMER. CL. A COM 102565108 154,895 23,830 X 23,830 BOWL AMER. CL B. COM 102565108 18,785 2,890 X 2,890 BRISTOL MYERS SQUIBB COM 110122108 4,777,313 74,500 X 74,500 BANCO SANTANDER COM 059574202 48,150 2,400 X 2,400 BP AMOCO COM 55622104 407,434 4,034 X 4,034 BURLINGTON RESOURCES COM 122014103 257,597 6,450 X 6,450 CABOT CORP COM 127055101 682,869 31,135 X 31,135 CANADIAN PACIFIC COM 136440302 246,488 12,600 X 12,600 CARDINAL FIN'L CORP COM 14149F109 56,000 8,000 X 8,000 CARLTON COMM. 8% PFD G19068140 558,125 22,325 X 22,325 CATELIUS DEV. COM 149111106 40,125 3,000 X 3,000 CBS CORP. COM 12490K107 57,138 1,400 X 1,400 CENTRIS GROUP COM 155904105 10,540,135 997,836 X 997,836 CFS BANCORP COM 12525D102 4,622,363 440,225 X 440,225 CHEVRON CORP COM 166751107 418,190 4,712 X 4,712 CHARTER ONE FIN'L COM 160903100 7,951,560 275,531 X 275,531 CITIGROUP COM 172967101 287,796 4,453 X 4,453 CISCO SYS INC COM 17275R102 117,780 1,075 X 1,075 CLASSIC BANCSHARES COM 18272M104 388,125 27,000 X 27,000 CLAYTON HOMES COM 184190106 134,133 12,125 X 12,125 CLEVELAND CLIFFS COM 1858961077 1,068,897 31,380 X 31,380 COMMERCIAL NET LEASE COM 202218103 719,916 64,350 X 64,350 COMMONWEALTH BANC COM 20268X102 182,250 12,000 X 12,000 COMMUNITY BANK. OF VA. COM 203631106 208,869 8,841 X 8,841 COLGATE PALMOLIVE COM 194162103 393,760 4,280 X 4,280 COLUMBIA GAS SYS. COM 197648108 559,598 10,710 X 10,710 CONAGRA INC. COM 205887102 126,049 4,919 X 4,919 COOPER CAMERON CORP COM 216640102 33,875 1,000 X 1,000 COOPER TIRE & RUBBER COM 216831107 567,789 30,900 X 30,900 CORNING INC. COM 219350105 1,293,000 21,550 X 21,550 CRAZY WOMAN CREEK COM 225233105 975,000 75,000 X 75,000 CRIIMI MAE INC COM 226603108 4,563 1,698 X 1,698 CYPRUS AMAX MINERALS COM 232809103 189,756 15,650 X 15,650 CRONOS GROUP COM L20708100 199,656 40,955 X 40,955 CSX CORP COM 126408403 23,363 600 X 600 DAMEN FIN'L COM 235906104 773,719 45,850 X 45,850 DAMES & MOORE COM 235713104 677,963 60,600 X 60,600 DEBEERS COM 240253302 5,424,425 286,431 X 286,431 DEERE & CO. COM 244199105 205,678 5,325 X 5,325 DETROIT DIESEL COM 250837101 45,000 2,000 X 2,000 DEUTSCHE BK. COM 251525200 102,000 2,000 X 2,000 DIME COMM.BANC. COM 253922108 4,419,235 192,660 X 192,660 DORAL FIN'L COM 25811P110 220,500 12,000 X 12,000 DOW CHEMICAL CO COM 260543103 37,275 400 X 400 DUFFS & PHELP.UTIL.BD.TR COM 26432K108 34,356 2,300 X 2,300 E.I. DUPONT DE NEMOURS COM 263534109 194,684 3,353 X 3,353 DUKE ENERGY CORP COM 264399106 80,355 1,466 X 1,466 DUKE REALTY INV PFD 264411604 12,900 600 X 600 DT INDS COM 23333J108 133,481 18,900 X 18,900 EASTMAN KODAK COM 277461109 51,100 800 X 800 EDO CORP. COM 281347104 146,250 22,500 X 22,500 ELEC. DATA SYS COM 285661104 976,184 20,050 X 20,050 ELF OVERSEAS 7.625% PFD G29974113 1,143,271 45,055 X 45,055 EMERSON ELECTRIC COM 291011104 52,938 1,000 X 1,000 ELF ACQUITAINE COM 286269105 13,664 203 X 203 ENGELHARD CORP COM 292845104 390,409 23,050 X 23,050 ETHYL CORP COM 297659104 773,774 182,055 X 182,055 EUITABLE COMPANIES INC COM 29444G107 52,500 750 X 750 EXCEL TECHNOLOGY INC COM 30067I103 38,699 3,730 X 3,730 EXXON CORP. COM 302290101 1,537,281 21,786 X 21,786 FEDERAL NAT'L MTGE. COM 313586109 866,941 12,519 X 12,519 FED.REALTY INVT. TR. COM 313747206 633,506 29,900 X 29,900 FFY FIN'L COM 302424108 2,699,288 146,900 X 146,900 FIDELITY FIN'L OF OHIO COM 31614P107 782,163 63,850 X 63,850 FIRST AUSTRALIA FUND INC COM 318652104 22,351 3,031 X 3,031 FIRST DEFIANCE FIN CORP. COM 32006W106 1,131,375 107,750 X 107,750 FIRST PLACE FIN'L COM 33610T109 1,853,229 183,035 X 183,035 FIRST UNION CORP. COM 337358105 549,231 10,278 X 10,278 FIRST WASHINGTON RLTY PFD 337489603 145,119 5,350 X 5,350 FLUSHING FINANCIAL CORP COM 343873105 4,302,788 301,950 X 301,950 F&M NATIONAL CORP COM 302374103 236,736 9,864 X 9,864 FREEPORT MCMORAN PFD 35671D600 38,281 2,500 X 2,500 FREEPORT MCMO COP PFD 35671D501 49,213 3,100 X 3,100 FPL GROUP INC COM 302571104 29,075 546 X 546 FRESH DEL MONTE COM G36738105 459,421 24,750 X 24,750 FRANCE GROWTH FD. COM 35177K108 175,078 12,909 X 12,909 GTE CORP COM 362320103 122,815 2,030 X 2,030 GATX CORP. COM 361448103 2,384,020 72,379 X 72,379 GENERAL ELECTRIC COM 369604103 2,308,523 20,868 X 20,868 GENERAL MOTORS COM 370442105 180,612 2,076 X 2,076 GERMANY FUND COM 374143105 53,665 4,209 X 4,209 GLAXO HOLDINGS COM 377327309 174,038 2,600 X 2,600 GREAT LAKE CHEM. COM 390568103 80,850 2,200 X 2,200 GREEN POINT FINANCIALS COM 395384100 1,292,005 37,180 X 37,180 GUILFORD PHARMACEUT. COM 401829106 73,938 6,500 X 6,500 GUARANTY FIN'L CORP. COM 401086103 258,750 23,000 X 23,000 HAGGAR COM 405173105 6,928,517 684,298 X 684,298 HARBOR FED.BANC. COM 41151A108 10,973 660 X 660 HARTFORD FIN SVCS PFD 416315208 396,825 15,600 X 15,600 HARTFORD CAP SER B PFD 416320208 313,530 12,200 X 12,200 HB FULLER CO COM 359694106 11,788 200 X 200 HEILIG-MEYERS COM 422893107 67,438 13,000 X 13,000 HELMERICH PAYNE COM 423452101 165,619 7,300 X 7,300 HERITAGE BANK (VA) COM 42721D101 138,244 30,300 X 30,300 HERMAN MILLER INC COM 60054410 2,919,544 159,975 X 159,975 H & Q HEALTHCARE COM 404052102 1,002,641 76,392 X 76,392 H & Q LIFE SCIENCE COM 404053100 686,090 62,372 X 62,372 HEALTH CARE PPTY COM 421915109 8,625 300 X 300 HERSHEY FOODS COM 427866108 61,669 1,100 X 1,100 H.F.BANCORP COM 403910102 8,935,000 508,740 X 508,740 HIGHLANDS CAP TR PFD 431008200 390,000 15,000 X 15,000 HOLOGIC COM 436440101 385,178 42,500 X 42,500 HOUSEHOLD INT'L COM 441815107 82,125 1,800 X 1,800 HONG KONG TELECOMM COM 438579203 19,680 1,004 X 1,004 HUBCO COM 404382103 3,768,789 112,290 X 112,290 HUDSON RIVER COM 444128102 6,844,541 625,758 X 625,758 IBM COM 459200101 14,259,940 80,451 X 80,451 ICN PHARM. COM 448924100 13,819 550 X 550 IMCO RECYCLING INC COM 449681105 665,638 51,700 X 51,700 IMPERIAL SUGAR CORP COM 453096109 6,261,606 1,022,303 X 1,022,303 INT'L MULTIFOODS CORP. COM 460043102 627,130 26,901 X 26,901 INTERSTATE/JOHNSON COM 460892102 225,951 7,216 X 7,216 INTEL CORP. COM 458140100 285,300 2,400 X 2,400 IRI INT'L COM 45004F107 40,625 10,000 X 10,000 IRT PROPERTY CO. COM 450058102 693,579 78,704 X 78,704 JSB FIN'L COM 46624M100 7,883,209 157,271 X 157,271 JEFFERSON PILOT COM 475070108 711,375 10,500 X 10,500 JOHN HANCOCK PATRIOT COM 41013T105 11,188 1,000 X 1,000 JOHNSON & JOHNSON COM 478160104 1,011,670 10,820 X 10,820 JP MORGAN & CO INC. COM 616880100 51,818 420 X 420 JP MORGAN & CO INC ADJ PFD 616880209 32,025 350 X 350 KELLY SVCS. INC. COM 488152208 10,822 390 X 390 KEYCORP COM 493267108 315,255 10,400 X 10,400 KIMCO RALTY CORP PFD 49446R604 610,272 24,350 X 24,350 KLEINWORT BENSON COM 498577105 1,047,909 158,175 X 158,175 KLAMATH FIRST BANCORP COM 49842P103 36,025 2,200 X 2,200 KOGER EQUITY INC. COM 500228101 25,881 1,926 X 1,926 K-SWISS INC. COM 482686102 4,657,312 184,448 X 184,448 LANCHILE COM 501723100 52,469 11,500 X 11,500 LATIN AMER. FUND COM 518279104 536,625 53,000 X 53,000 LAFARGE CORP. COM 505862102 680,400 24,300 X 24,300 LANDMARK SVGS. BK. COM 514928100 2,402,238 117,901 X 117,901 LEHMAN BROS. HOLDINGS COM 524908100 71,700 1,200 X 1,200 LINCOLN NATL CORP PFD 534178207 180,688 7,000 X 7,000 LG & E ENERGY CORP COM 501917108 15,609 750 X 750 LOEWS CORP COM 540424108 14,925 200 X 200 LORAL SPACE COM G56462107 816,441 56,550 X 56,550 LUCENT COM 549463107 333,072 3,084 X 3,084 M.A. HANNA COM 410522106 1,168,368 91,190 X 91,190 MANPOWER INC COM 56418H100 32,725 1,400 X 1,400 MARATHON FINANCIAL COM 56580P104 147,500 20,000 X 20,000 MARION CAPITAL HLDG COM 568635106 13,200 600 X 600 MARITRANS INC. COM 570363101 4,799,259 834,654 X 834,654 MARRIOTT INT'L COM 571900109 134,567 4,002 X 4,002 MASCO CORP. COM 574599106 347,475 12,300 X 12,300 MASON-DIXON CAP PFD 57520R200 250,750 8,500 X 8,500 MAXXAM CORP. COM 577913106 2,198,768 43,648 X 43,648 MCI CAPITAL PFD 552674206 263,250 10,400 X 10,400 MEDIAONE GROUP INC COM 58440J104 76,125 1,200 X 1,200 MELLON BANK COM 585509102 95,006 1,350 X 1,350 MERCK COM 589331107 840,191 10,486 X 10,486 MERCHANTS GROUP COM 588539106 3,292,275 156,775 X 156,775 MERRILL LYNCH& CO PFD 590188819 107,844 3,500 X 3,500 MERRILL LYNCH CAP PFD 59021C203 214,447 8,150 X 8,150 MEXICO FD. COM 592835102 21,916 1,443 X 1,443 MICROSOFT COM 594918104 71,700 400 X 400 MIDLAND BK PLC 9.55% PFD 597433853 26,438 1,000 X 1,000 MINE SAFETY APPLIANCE COM 602720104 1,577,600 27,200 X 27,200 MINN. MINING & MFG. COM 604059105 65,090 920 X 920 MISSISSIPPI CHEMICAL COM 605288208 6,219,441 663,407 X 663,407 MONOGAHELA POWER PFD 61020250 10,838 100 X 100 MORGAN STAN. AFR.FD. COM 617444104 120,938 12,900 X 12,900 ML CAP 7.28 PFD 59021K205 163,669 6,450 X 6,450 MOBIL CORP. COM 607059102 578,952 6,579 X 6,579 MOORE PRODUCTS COM 615836103 398,400 19,200 X 19,200 MONTEREY BAY BANCORP. COM 61239H107 3,574,989 324,999 X 324,999 MONY GROUP COM 615337102 7,348,945 295,435 X 295,435 MORTON INDL GROUP INC COM 619328107 221,875 25,000 X 25,000 MOTOROLA INC. COM 620076109 1,280,044 17,475 X 17,475 NALCO CHEMICAL CO. COM 629853102 245,039 9,225 X 9,225 NESTLE SA-SPONSORED COM 641069406 18,000 200 X 200 NAT'L AUST BK COM 632525408 468,578 5,192 X 5,192 NAT'L WEST. 8.75% PFD PFD 638539700 156,750 6,000 X 6,000 NAT'L WEST. 7.875% PFD PFD 638539809 406,897 15,575 X 15,575 NAT'L RURAL UTIL. PFD 637432204 1,995,947 78,755 X 78,755 NATIONWIDE HEALTH PROP COM 638620104 60,800 3,200 X 3,200 NEXTEL COMM CORP COM 65332V103 119,031 3,250 X 3,250 NEW GERMANY FD. COM 644465106 790,060 66,183 X 66,183 NEW YORK MAGIC COM 629484106 401,180 30,860 X 30,860 NORDSON CORP. COM 655663102 1,195,838 21,450 X 21,450 NORFOLK & SOUTHERN COM 655844108 15,825 600 X 600 NORTHERN TELECOM LTD PFD 665815106 18,638 300 X 300 NORTHWEST PIPE CO COM 667746101 228,525 13,850 X 13,850 NOVARTIS ADR COM 66987V109 11,956,474 147,535 X 147,535 OAKWOOK HOMES COM 674098108 242,200 17,300 X 17,300 OCCIDENTAL PETE CORP. COM 674599105 482,724 26,818 X 26,818 OFFSHORE LOGISTICS COM 676255102 2,301,401 197,970 X 197,970 OLSTEN CORP. COM 681385100 574,478 92,845 X 92,845 OLD REPUBLIC COM 680223104 3,981,184 218,147 X 218,147 PACIFIC CORP. COM 695114108 301,875 17,500 X 17,500 PALL CORP PV COM 696429307 220,281 13,300 X 13,300 PETROLEUM HELO. COM 716604202 981,825 74,100 X 74,100 PEOPLESOFT INC. COM 712713106 32,175 2,200 X 2,200 PFIZER INC. COM 717081103 1,359,750 9,800 X 9,800 PHOENIX INVESTMENT COM 719085102 77,625 9,000 X 9,000 PLATINUM TECH COM 72764T101 70,125 2,750 X 2,750 PNC BANK CORP. COM 693475105 88,900 1,600 X 1,600 POST PROPERTIES COM 737464107 358,875 9,900 X 9,900 POCAHONTAS BANCORP COM 730234101 53,438 7,500 X 7,500 PP & L RESOURCES COM 693499105 24,750 1,000 X 1,000 PROCTER & GAMBLE COM 742718109 203,710 2,080 X 2,080 PRAXAIR INC. COM 74005P104 548,150 15,200 X 15,200 PROVIDENT BK. CORP COM 743859100 240,272 9,197 X 9,197 PROVIDIAN CORP. COM 744061102 115,500 1,050 X 1,050 PUBLIC SER. ENT. COM 744573106 63,582 1,665 X 1,665 PUBLIC STORAGE INC. COM 74460D109 30,978 1,239 X 1,239 PHARMACIA UPJOHN COM 716941109 11,574,617 185,565 X 185,565 QUAKER OATS CO COM 747402105 87,150 1,400 X 1,400 QUESTAR CORP. COM 748356102 691,065 40,800 X 40,800 QUEENS CNTY SVGS. COM 748242104 16,767,782 621,029 X 621,029 QUEST DIAG. COM 74834L100 2,781 125 X 125 RAYCHEM CORP COM 754603108 403,869 17,900 X 17,900 RAYTHEON CO CL A COM 755111309 18,653 323 X 323 R&B FLACON CORP COM 74912 101 13,369 1,550 X 1,550 READERS DIGEST CL. B COM 755267200 725,450 26,380 X 26,380 RELIANCE BANCORP COM 759451107 8,777,375 305,300 X 305,300 RESOURCE CAP 9.25 PFD 761201201 309,375 12,500 X 12,500 REPSOL COM 76026T205 30,750 600 X 600 REPUBLIC N.Y. COM 760719104 78,413 1,700 X 1,700 REUTERS HLDS PLC COM 761324201 16,854 194 X 194 RHONE POULENCE 8.125% PFD G75495104 226,406 8,750 X 8,750 RICHFOOD HOLDINGS COM 763408101 241,500 11,200 X 11,200 ROYAL DUTCH COM 780257804 25,792 496 X 496 ROYCE VALUE TR. INC. COM 780910105 227,429 20,104 X 20,104 ROYCE VALUE TR PFD 780910204 830,025 32,550 X 32,550 SANTANDER OVERSEAS 8% PFD 802814509 382,500 15,000 X 15,000 SBC COMMUNICATIONS INC COM 78387G103 266,704 5,652 X 5,652 SEABOARD CORP. COM 811543107 8,323,140 27,930 X 27,930 SEAGRAM LTD COM 811850106 2,466,500 49,330 X 49,330 SEARS ROEBUCK & CO. COM 812387108 10,619 235 X 235 SHELBY WMS. INDUS. COM 822135109 404,016 42,250 X 42,250 SEMPRA ENERGY COM 816851109 62,570 3,261 X 3,261 SIMON PROPERTY GROUP COM 828805101 196,068 7,146 X 7,146 SINCLAIR BROADCAST COM 829226109 8,738 600 X 600 SLM HOLDING CORP COM COM 78442A109 2,590,796 62,055 X 62,055 SMITHKLINE BEECHAM COM 832378400 243,100 3,400 X 3,400 SONY CORP ADR COM 835699307 20,180 221 X 221 SOUTHDOWN INC. COM 841297104 926,109 17,250 X 17,250 SOUTHERN MINERAL CORP COM 843367202 25,000 50,000 X 50,000 SPRINT CORP. COM 852061100 53,773 548 X 548 STATEN ISLAND BANC. COM 857550109 515,245 29,977 X 29,977 ST.FRANCIS CAP.CORP. COM 789374105 128,625 3,000 X 3,000 ST. PAUL COMPANIES COM 792860108 5,304,390 170,762 X 170,762 SUPERIOR NAT'L COM 86822P208 456,000 24,000 X 24,000 SWEDISH EXPORT PFD W92947212 1,116,893 43,480 X 43,480 SWEDISH MATCH COM 870309507 376,844 10,923 X 10,923 SYMS CORP COM 871551107 357,024 48,000 X 48,000 TECUMSEH CL. B COM 878895101 2,354,509 51,890 X 51,890 TECUMSEH CL. A COM 878895200 3,220,400 63,222 X 63,222 TELEFONOS DE ESPANA COM 879382208 57,488 450 X 450 TELEFONOS DE MEXICO COM 879403780 31,350 475 X 475 TEMPLETON DRAGON FD. COM 880188101 395,983 51,510 X 51,510 TENET HEALTHCARE COM 636886103 160,590 8,480 X 8,480 TENN VALLEY AUTH PAR PFD 880591300 520,000 20,800 X 20,800 TENN VALLEY AUTH QIDS PFD 880591102 86,275 3,400 X 3,400 TENNECO INC. COM 880370101 39,113 1,400 X 1,400 TEXACO COM 881694103 351,680 6,197 X 6,197 THORNBURG MORTG. COM 885218107 298,425 34,600 X 34,600 THISTLE GROUP COM 88431E103 139,145 16,370 X 16,370 TMP WORLDWIDE COM 872941109 162,031 2,500 X 2,500 TREMONT CORP. COM 894745207 1,064,993 60,425 X 60,425 TRANSAMERICA COM 893485870 292,946 4,126 X 4,126 TEMPLE INLAND COM 879868107 3,059,325 48,754 X 48,754 TRANS. NETWORK SVCS COM 893414102 16,375 1,000 X 1,000 TRW INC COM 872649108 18,200 400 X 400 UNILEVER NV-NY SHARES COM 904784501 19,931 300 X 300 UNION PACIFIC CORP. COM 907818108 107,409 2,010 X 2,010 UNION PACIFIC RESOURCE COM 907834105 50,383 4,243 X 4,243 UNION CARBIDE CORP. COM 905581104 14,460 320 X 320 UNION COMM. BANC. COM 906054101 606,813 51,100 X 51,100 UNIVERSAL FOODS CORP. COM 913538104 82,500 4,000 X 4,000 UNITED DOMINION REALTY PFD 910197300 441,659 17,890 X 17,890 UNITED TECHNOLOGIES COM 913017109 27,088 200 X 200 UNOCAL COM 915289102 422,219 11,450 X 11,450 U. S. WEST INC. COM 912889102 84,136 1,528 X 1,528 UNITED DOMINION COM 910197102 303,400 29,600 X 29,600 USB HLDG INC COM 902910108 1,038,282 74,164 X 74,164 VELCRO INDS. COM 922571104 6,180,794 415,516 X 415,516 VIACOM COM 925524308 104,922 1,250 X 1,250 VOLVO COM 928856400 7,317,888 283,497 X 283,497 WACHOVIA CORP COM 929771103 31,095 383 X 383 WALDEN RESIDENTIAL COM 931210108 226,481 12,850 X 12,850 WARNER LAMBERT CO. COM 934488107 769,759 11,619 X 11,619 WARWICK COMM.BK. COM 936559103 7,266,552 548,419 X 548,419 WASHINGTON MUTUAL COM 939322103 104,231 2,550 X 2,550 WASTE MGMT CORP COM 94106K101 16,064 362 X 362 WELLS FARGO COM 949746101 43,828 1,250 X 1,250 WESTINGHOUSE AIR COM 960386100 1,005,653 48,175 X 48,175 WESTPAC BKG LTD COM 961214301 914,436 25,096 X 25,096 WEYCO GROUP COM 962149100 266,400 11,100 X 11,100 WILLAMETTE INDS. COM 969133107 64,175 1,700 X 1,700 WISCONSIN ENERGY COM 976657106 23,456 900 X 900 XTRA CORP COM 984138107 1,277,662 33,348 X 33,348 WALDEN RES.CV PFD PFD 931210306 327,875 15,250 X 15,250 TOTALS 383,131,990 18,519,922 18,519,922 -----END PRIVACY-ENHANCED MESSAGE-----