Frederic Block

ALLIED CAPITAL CORP — Int/Div

AMERICA MOVIL SER L ADR (1) — Int/Div

CITIGROUP INC. (1) — Interest

DNP SELECT INCOME FD INC — Int/Div

DOW CHEMICAL — Int/Div — SELL

DOW CHEMICAL(1) — Int/Div

GEORGIA PACIFIC CORP.(1) — Int/Div — SELL

INTERNET HOLDERS DEP RCPT(1)

ITT INDS INC INDIANA(1]) — Int/Div — SELL

LYONDELL CHEMICAL PV(1) — Int/Div

NORTHFORK BANCORP(1) — Int/Div

PRUDENTIAL FINANCIAL INC — Int/Div — SELL

GENERAL ELECTRIC(]) — Int/Div

CHEVRON/TEXACO CORP.(1) — Int/Div

HOME DEPOT — Int/Div — SELL

ALLIED CAPITAL CORP.(1) — Int/Div

DNP SELECT INCOME FUND INC(1) — Int/Div

WAL-MART STORES — Int/Div — SELL

PROCTOR & GAMBLE — Int/Div — SELL

EXXON MOBIL CORP — Int/Div — SELL

MICROSOFT — Int/Div — SELL

NORTH FORK BANCORP — Int/Div

WASHINGTON MUTUAL INC(1) — Int/Div — SELL

BLACKROCK INCM TR INC(1) — Int/Div

BLACKROCK INCM TR INC — Int/Div

BLACKROCK NY MN TR SBI — Int/Div

EATON VANCE TAX ADV. DIV INC. FD. — Int/Div

ACE LIMITED DEP SHR REP 1/10 CUM RED 7.8% SER C(1) — Interest

KIMCO REALTY CORP. DEP SHR REP 1/10 CUM RD 6.65% PFD SHR (1) — Interest

CITIGROUP CAP. VIII DEF INT TRUST PFD STK 6.950% 09/15/31 — Interest

GENERAL MOTORS ACEP CORP PUBLIC INC NOTES 7.35% 08/08/32 — Interest — SELL

GENERAL ELECTRIC CAPTL SENIOR NOTES PFD 5.85% 2/18/33 — Interest — SELL

GENERAL ELECTRIC CAPTL SENIOR NOTED PFD 5.875% 2/18/33(1) — Interest

VIRGINIA POWER CAP TR II GRD TR PFD SECS 7.375% 07/30/42 — Int/Div

CITIGP CAPITAL VIII DEF INT TRUST PFD STK 6.959% 09/15/31(1) — Interest

GENERAL MOTORS ACEP CORP PUBLIC INC NTS 7.35% 08/08/32(1) — Interest — SELL

VIRGINIA POWER CAP TR Il GTD TR PFD SECS 7.375% 07/30/42(1) — Int/Div

METRO TRANSIT 5.75 7/13 — Interest

NYC IND DEV 6.0 1/15 — Interest

NYC NY SER H 5.00 03/15/29(1) — Interest

NYS URBAN DEV 5.375 01/01/25(1) — Interest

HARTFORD DIRECTOR(I) — None

PRU DISC SELECT — None — SELL

ABN AMRO CAP FD TR VII PFD NON CUM 6.08% PERP — Int/Div — BUY

ROYAL BK SCOT GRP PLC 6.35% NONCUM PRF SR-N — Int/Div — BUY

WALT DISNEY SR PFD NOTES 7% 11/01/31 — Int/Div — BUY

CATERPILLAR INC DEL — Int/Div — BUY

MUNIYIELD NY INS FD INC — Int/Div — BUY

NUVEEN NY QUAL INC MUNI — Int/Div — BUY

PIMCO NY MUN INC FD — Int/Div — BUY

MAYTAG CORP.PUBLIC INC NOTES 7.875% — Interest — BUY

MAYTAG CORP. PUBLIC INC NOTES 7.875% — Interest — SELL

APPLE COMPUTER INC(1) — None — BUY

MASCO CORP(1) — Int/Div — BUY

MORTGAGE IT HOLDINGS INC(1) — Int/Div — BUY

PIEDMONT NATRL GAS NC(1) — Int/Div — BUY

AXAENTERPRISE MERGERS % AQUIS.FDCLC(1) — None — BUY

ML GLOBAL ALLOC.C(1) — Int/Div — BUY

APPLE COMPUTER(]) — None — BUY

APPLE COMPUTER(1) — None — SELL

US TREASURY NOTE 3.125% 10/15/08(2) — Interest — BUY

NY TWY AT HWY-BRDG (2) — Interest — BUY

ACTIVISION INC COM NEW(2) — None — BUY

AMGEN INC COM PV (2) — None — BUY

CAREMARK RX INC(2) — None — BUY

COMVERSE TECH.(2) — None — BUY

CONOCOPHILLIPS(2) — Int/Div — BUY

CSX CORP(2) — Int/Div — BUY

GLAXOSMITHKLINE PLC ADR(2) — Int/Div — BUY

INCO LTD(2) — Int/Div — BUY

ISHARES DJ US CONSUMER GOODS SEC IND FD(2) — Int/Div — BUY

ISHARES DJ US ENERGY SEC IND FD(2) — Int/Div — BUY

ISHARES DJ US REAL ESTATE IND FD(2) — Int/Div — BUY

ISHARES MSCI JAPAN IND FD(2) — Int/Div — BUY

ISHARES S&P SMALLCAP IND. FD (2) — Int/Div — BUY

JM SMUCKER CO(2) — Int/Div — BUY

JUNIPER NETWORKS INC(2) — None — BUY

LYONDELL CHEMICAL PV(2) — Int/Div — BUY

MORTGAGEIT HOLDINGS INC(2) — Int/Div — BUY

PROCTOR & GAMBLE CO0(2) — Int/Div — BUY

RAYTHEON CO DELAWARE NEW(2) — Int/Div — BUY

RYDEX ETF TR INDEX FD(2) — Int/Div — BUY

S&P500 EQUAL WEIGHTED(2) — Int/Div — BUY

SCHLUMBERGERLTD(2) — Int/Div — BUY

SIRIUS SATELLITE RADIO(2) — None — BUY

TRANSOCEAN INC (2) — None — BUY

AXAENTERPRISE MERG & ACQUL FD CL C.(2) — None — BUY

FRANKLIN CONV. SEC. FD CL A (2) — Int/Div — BUY

HOTCHKIS & WILEY ALL CAPVAL FD CL C(2) — None — BUY

ML GLOBAL ALLOC.C (2) — Int/Div — BUY

OPPENHEIMER REAL ASSET FD CLA (2) — Int/Div — BUY

MERRILL LYNCH BANK USA(2) — Interest — ACCOUNT

MERRILL LYNCH BANK & TRUST(2) — Interest — ACCOUNT

MERRILL LYNCH BANK USA(1) — Interest

MERRILL LYNCH BANK & TRUST a) — Interest

MERRILL LYNCH BANK USA — Interest

MERRILL LYNCH BANK & TRUST — None

ALGER CAPITAL APPRECIATION CLB (4) — None

SELIGMAN COMM & INF FD CL A 4) — None

IRA - F. BLOCK

ALLIED CAPITAL CORP. NEW — Int/Div

BELL SOUTH CORP — Int/Div — SELL

CITIGROUP INC — Int/Div — SELL

DOW CHEMICAL — Int/Div — SELL

EASTMAN KODAK — Int/Div — SELL

EATON VANCE TAX ADVT DIV INC FD — Distribution — SELL

DNP SELECT INCOME FD INC — Int/Div

ISHARES TRUST DOW JONES SELECT DIV INDEX FD — Int/Div — SELL

ISHARES IBB — None — SELL

ISHARES IYC — None — SELL

ISHARES IYK — None — SELL

ISHARES IYE — None — SELL

ISHARES IYH } — None — SELL

LYONDELL CHEMICAL PV — Int/Div — SELL

NEWCASTLE INVESTMENT CRP REITS DIVERS. — Int/Div

NICHOLAS APPLEGATE CONV AND INC. FD — None — SELL

HLDRS DEP RCPT — Int/Div — SELL

RYDEX ETF TRUST INDEX FD — Int/Div — SELL

WORTHINGTON INDUSTRIES OHIO — Int/Div

ALABAMA POWER CO CUM PERP & CALL PFD 5.2% — Interest — SELL

GEORGIA PWR CAP TRUST V DEF INT TR PFD 7.125% 03/31/42 — Interest

GENERAL ELECTRIC CAPTLSENIOR NOTES PFD STK 5.875% 2/18/33 — Interest

MERRILL LYNCH & CO SRUS SER MLNP 4.15 10/4/11 — Interest

MORGAN STANLEY - TR V DEF INT TR PFD 5.75% 7/15/33 — Interest

HERTZ CORP. NOTES 7.4% 03/01/11 — Interest

BEAR STEARNS CO PRD STK 5.490% — Int/Div — SELL

FREDDIE MAC PFD NON-CUM STOCK 5.00% — Int/Div — SELL

AETNA INC SR NOTES 8.5% 08/31/41 — Interest

VIACOM INC SR RETAIL DEB 7.25% 06/30/51 — Interest

CITIGROUP CAP VIII DEF INT TR PFD STK 6.95% 09/15/31 — Interest

WELLS FARGO TR VI TRUST PFD SEC 6.95% 04/15/32 — Interest

VERIZON NEW - SR NOTES 7% 5/15/42 — Interest

VIRGINIA POWER TR II GTD TR SECS 7.375% 07/30/42 — Interest

VORNADO REALTY TRUST SER F CUM PFD SHS 6.75% PERP — Interest

BLACKROCK INCM TR INC — Interest

EVERGREEN MANAGED — Int/Div

FUND

FRANKLIN RISING DIV FD CL C — Int/Div — SELL

HANCOCK JOHN INC ST SBI — Int/Div

ML GLOBAL ALLOCATION C — Int/Div

MFS GOVT MKTS INC TR SBI — Int/Div

MFS INTER INCM TR SBI — Int/Div

MERRILL LYNCH BANK USA RASP — Interest

US TREASURY NOTE 3.5% 02/15/10 — Interest — BUY

GENERAL MOTORS ACCP CORP SR NOTES 7.25% 02/07/33 — Int/Div — BUY

PUBLIC STORAGE PFD STK SER D 6.180% PERP — Int/Div — BUY

DISNEY CO SR PFD NOTES 7% 11/01/31 — Int/Div — BUY

COHEN STEERS REIT & UTILITIES INC FD — Int/Div — BUY

DLP INC — Int/Div — BUY

DUKE ENERGY CORP NC NPV — Int/Div — BUY

ENHANCED EQUITY YIELD FD INC — Int/Div — BUY

REITS-DIVERSIFIED — Int/Div — BUY

SUNAMERICA FOCUSED ALPHA GRFD INC — Int/Div — BUY

JENNISON 20/20 FOCUS FD CL C — None — BUY

OPPENHEIMER REAL ASSET FD CLA — Int/Div — BUY

LOOMIS SAYLES INV GRADE BONDFDCLC — Int/Div — BUY

LOOMIS SAYLES STRATEGIC INCFDCLC — Int/Div — BUY

PIMCOFLOATING INCFD CL C — Int/Div — BUY

BANK OF SMITHTOWN — None

WASHINGTON MUTUAL — Interest

Officer, Frederic Block, P.C

Spouse's income — 2005 — NEW YORK STATE TEACHERS' RETIREMENT

V ALL JARI A AAT ANLARY AL NA JANITAIA A AUVLAN UAN LJ4AA IAAL LA AAJA (Haute panngy spor)