Portfolio Holdings as of 12/31/2007
| Ticker | Cusip | Description | Shares | Market Value |
| AA | 013817101 | Alcoa Inc. | 3,000.000 | $109,650.00 |
| BAC | 060505104 | Bank of America Corporation | 1,700.000 | $70,142.00 |
| BRKL | 11373M107 | Brookline Bancorp, Inc. | 4,000.000 | $40,640.00 |
| CVX | 166764100 | Chevron Corportation | 1,200.000 | $111,996.00 |
| DD | 263534109 | E.I. du Pont de Nemours | 1,700.000 | $74,953.00 |
| EM050112 | EM050112 | Empire Corporation 05/01/12 | 275,000.000 | $275,000.00 |
| EMIXX | 300250602 | Evergreen Select Mon ey Market Fund | 60,156.120 | $60,156.12 |
| GE | 369604103 | General Electric Company | 2,000.000 | $74,140.00 |
| HON | 438516106 | Honeywell Internatio nal Inc. | 1,900.000 | $116,983.00 |
| HON-AL | 4HJ99G790 | HON Call @ 60.00 01/19/08 | -19.000 | ($4,845.00) |
| JNJ | 478160104 | Johnson & Johnson | 1,300.000 | $86,710.00 |
| LLY | 532457108 | Eli Lilly & Company | 2,000.000 | $106,780.00 |
| MDY | 595635103 | Midcap SPDR Trust Series 1 | 500.000 | $77,550.00 |
| MMM | 88579Y101 | 3M Co | 800.000 | $67,456.00 |
| MRK | 589331107 | Merck & Co., Inc. | 2,000.000 | $116,220.00 |
| MRK-DA | 84K99C339 | MRK CALL @ 62.50 04/19/08 | -20.000 | ($3,300.00) |
| PAYX | 704326107 | Paychex, Inc. | 2,500.000 | $90,550.00 |
| RRD | 257867101 | R.R. Donnelley & Son s Company | 2,500.000 | $94,350.00 |
| RTN | 755111507 | Raytheon Company | 2,000.000 | $121,400.00 |
| RTN-AM | 7FB994820 | RTN Call @ 65 01/19/08 | -20.000 | ($380.00) |
| SON | 835495102 | Sonoco Products Company | 2,500.000 | $81,700.00 |
| SPY | 78462F103 | Standard & Poor's Depositary Receipts | 400.000 | $58,484.00 |
| T | 00206R102 | A T & T Inc | 3,000.000 | $124,680.00 |
| TKR | 887389104 | The Timken Company | 2,600.000 | $85,410.00 |
| TRV | 89417E109 | Travelers Group, Inc. | 2,000.000 | $107,600.00 |
| TRV-AK | 7JE996527 | Travelers Cos Inc Call 1/19/08 @55 | -20.000 | ($1,700.00) |
| VZ | 92343V104 | Verizon Communications Inc. | 1,400.000 | $61,166.00 |
| WFC | 949746101 | Wells Fargo & Company | 3,100.000 | $93,589.00 |
| WFC-AG | 9JF99U174 | WFC Call @$35 01/19/08 | -31.000 | ($310.00) |
| WMI | 94106L109 | Waste Management, INC. | 1,800.000 | $58,806.00 |
| Totals | 380,946.120 | $2,355,576.12 | ||