Portfolio Holdings as of 8/31/2008
| Ticker | Cusip | Description | Shares | Market Value |
| AA | 013817101 | Alcoa Inc. | 3,000.000 | $96,390.00 |
| BAC | 060505104 | Bank of America Corporation | 1,700.000 | $52,938.00 |
| BRKL | 11373M107 | Brookline Bancorp, Inc. | 4,000.000 | $41,120.00 |
| COP | 20825C104 | ConocoPhillips | 1,100.000 | $90,761.00 |
| DD | 263534109 | E.I. du Pont de Nemours | 2,000.000 | $88,880.00 |
| EM050112 | EM050112 | Empire Corporation 05/01/12 | 275,000.000 | $275,000.00 |
| FMPXX | 316175207 | Fidelity Money Market Inst. Fund 59 | 67,939.320 | $67,939.32 |
| GE | 369604103 | General Electric Company | 2,000.000 | $56,200.00 |
| JNJ | 478160104 | Johnson & Johnson | 1,300.000 | $91,559.00 |
| LLY | 532457108 | Eli Lilly & Company | 2,000.000 | $93,300.00 |
| MRK | 589331107 | Merck & Co., Inc. | 2,000.000 | $71,340.00 |
| NUE | 670346105 | Nucor Corporation | 1,400.000 | $73,500.00 |
| PAYX | 704326107 | Paychex, Inc. | 2,500.000 | $85,200.00 |
| PTEN | 703481101 | Patterson-UTI Energy, Inc. | 2,000.000 | $56,840.00 |
| RTN | 755111507 | Raytheon Company | 2,000.000 | $119,980.00 |
| SNA | 833034101 | Snap-On, Inc. | 2,000.000 | $114,040.00 |
| SON | 835495102 | Sonoco Products Company | 2,500.000 | $86,400.00 |
| T | 00206R102 | A T & T Inc | 3,000.000 | $95,970.00 |
| TKR | 887389104 | The Timken Company | 3,000.000 | $96,960.00 |
| TRV | 89417E109 | Travelers Group, Inc. | 2,000.000 | $88,320.00 |
| WFC | 949746101 | Wells Fargo & Company | 3,100.000 | $93,837.00 |
| Totals | 385,539.320 | $1,936,474.32 | ||