Portfolio Holdings as of 07/31/2007
| Ticker | Cusip | Description | Shares | Market Value |
| BAC | 060505104 | Bank of America Corporation | 1,700.000 | $80,614.00 |
| COP | 20825C104 | ConocoPhillips | 1,400.000 | $113,176.00 |
| CVX | 166764100 | Chevron Corportation | 1,000.000 | $85,260.00 |
| DD | 263534109 | E.I. du Pont de Nemours | 1,700.000 | $79,441.00 |
| EM050112 | EM050112 | Empire Corporation 05/01/12 | 275,000.000 | $275,000.00 |
| EMIXX | 300250602 | Evergreen Select Mon ey Market Fund | 288,681.210 | $288,681.21 |
| GE | 369604103 | General Electric Company | 2,000.000 | $77,520.00 |
| HON | 438516106 | Honeywell Internatio nal Inc. | 1,900.000 | $109,269.00 |
| IP | 460146103 | International Paper Company | 3,000.000 | $111,210.00 |
| JNJ | 478160104 | Johnson & Johnson | 1,300.000 | $78,650.00 |
| LLY | 532457108 | Eli Lilly & Company | 2,000.000 | $108,180.00 |
| MDY | 595635103 | Midcap SPDR Trust Series 1 | 500.000 | $77,650.00 |
| MMM | 88579Y101 | 3M Co | 800.000 | $71,136.00 |
| MRK | 589331107 | Merck & Co., Inc. | 2,000.000 | $99,300.00 |
| PAYX | 704326107 | Paychex, Inc. | 2,500.000 | $103,450.00 |
| RRD | 257867101 | R.R. Donnelley & Son s Company | 2,500.000 | $105,650.00 |
| SON | 835495102 | Sonoco Products Company | 2,500.000 | $91,675.00 |
| SPY | 78462F103 | Standard & Poor's Depositary Receipts | 400.000 | $58,288.00 |
| T | 00206R102 | A T & T Inc | 3,000.000 | $117,480.00 |
| TKR | 887389104 | The Timken Company | 2,600.000 | $86,840.00 |
| VZ | 92343V104 | Verizon Communications Inc. | 1,400.000 | $59,668.00 |
| WFC | 949746101 | Wells Fargo & Company | 100.000 | $3,377.00 |
| WMI | 94106L109 | Waste Management, INC. | 1,800.000 | $68,454.00 |
| Totals | 599,781.210 | $2,349,969.21 | ||