Robert E. Payne

Smith Bartney Mgd Mun. Fd — Int/Div

Smith Bamey Rollover Mgd Acct (48) — 2 — IA

Smith Barney Rollover Mgd Acct (49) — 2 — 3

Ninth & Cary & Assoc — AP — IC

Smith Bamey Mgd IRA Acct 16 [1 — 2 — =D

Mallen Research Ltd Pshp

Cilng clvicenc Meacinc "DJ!" entriec — Int/Div — thin t1 — Lae

Cilng clvicenc Meacinc "DJ!" entriec — Sh x ER NRE werhe iTV

ALL STOCK COM — STOCK — 12/30

Noble Corp — None

Seagate Tech — Int/Div

Tyco Int'l Ltd — Int/Div — Buy

Tyco Int'l Ltd — Buy

Tyco Elec Ltd — Int/Div — Buy

Tyco Elec Ltd — Buy

Tyco Elec Ltd — Buy

Weatherford Int] Ltd — None

AT&T Inc — Int/Div — Buy

Air Prod & Chem — Int/Div

Alhed Insh Bks — Int/Div — Buy

Altra Grp Inc — Int/Div

Amazon Com Inc — None

American Express Co — Int/Div

Amgen Inc — None

Andarko Petrol. Corp — Int/Div

AXA S.A. Spon — Int/Div

BP PLC — Int/Div — Buy

Bk of America Corp — Int/Div

Bk of NY Mellon Corp — Int/Div

Bayer AG — Int/Div — Buy

Bed Bath & Beyond — None

Biogen IDEC Inc — None — Buy

Br. Airways PLC — None — Buy

Br. Airways PLC — Int/Div — Buy

Broadcom Corp — None — Buy

Cablevision Sys. Corp — None

Coca-Cola Co. — Int/Div

Comcast Corp — None

Comverse Tech Inc — None

Conoco Phillips — Int/Div — Buy

Cree Inc — None

Dell Inc — None

Walt Disney Co — Int/Div

E.L DuPont de Nemours & Co — None

EON AG — Int/Div

Ebay Inc — None — Buy

Echostar Com. Corp — None

Embarq Corp — Int/Div

Ericsson LM Tel — Int/Div — Buy

Encsson LM Tel — Int/Div — Buy

Ericsson LM Tel — Int/Div — Buy

Expedia Inc — None

Fed. Hm Ln Mtg — None — Buy

Fed. Hm Ln Mtg — None — Buy

Fed. Hm Ln Mtg — None — Buy

Forest Labs Inc — None — Buy

France Telecom SA — Int/Div

Genetech Inc — None

Genzyme Corp — None

GlaxoSmith Kline PLC — Int/Div

Grant Prideco Inc — None

Halhburton Co Hidgs Co — Int/Div

Home Depot Inc — Int/Div

Honda Motor Co Ltd — Int/Div

1AC Interactive Corp — None — Buy

ING Groep NV — Int/Div

Intel Corp — Int/Div

Intl Bus. Machines Corp — Int/Div

JP Morgan Chase & Co — None — Buy

Johnson & Johnson — Int/Div

Kimberly Clark Corp — Int/Div

Koninkljke Phillips Elec — Int/Div

L3 Comm. Hldgs Inc — Int/Div

Liberty Global Inc — None

Liberty Media Hidg — None

Loews Corp — Int/Div — Buy

Loews Corp — Int/Div — Buy

Loews Corp — Int/Div — Buy

Manulife Finl Corp — Int/Div

Marsh & McLennan Co — Int/Div

McDonalds Corp — Int/Div

Merrill Lynch & Co — Int/Div

Microsoft Corp — Int/Div

Millenium Pharm. Inc — None

Mitsubiski UFJ Finl — Int/Div — Buy

Mitsubiski UFJ Finl — Int/Div — Buy

News Corp — Int/Div

Novartis AG — Int/Div

Pall Corp — Int/Div

Pfizer Inc — Int/Div

Precision Drilling Tr — Int/Div — Buy

Precision Drilling Tr — Int/Div — Buy

Precision Drilling Tr — Int/Div — Buy

Raythem Co — Int/Div

Reed Elsevier NV — Int/Div — Buy

Royal Dutch Shell PLC — Int/Div

Sandisk Corp — None

Sanofi-Aventis — Int/Div

Sempra Energy — Int/Div

Shinhan Finl Grp — Int/Div

Sprint Nextel Corp — Int/Div

Suncor Energy Inc — Int/Div

TNT NV — Int/Div

Target Corp — Int/Div

Tate & Lyle PLC — Int/Div — Buy

Tate & Lyle PLC — Int/Div — Buy

Technip ADR — Int/Div — Buy

Technip ADR — Int/Div — Buy

Telefonica SA — Int/Div

Telenor SA — p

Telus Corp — Int/Div — Buy

Texas Instr. Inc — Int/Div — Buy

Textron Inc — Int/Div

Total SA — Int/Div

Travelers Cos Inc — Int/Div

Unilever PLC — Int/Div

United Health Group — Int/Div

UPM Kymmene Corp — Int/Div — Buy

Vinci SA — Int/Div — Buy

Wal-Mart Stores Inc — Int/Div

Wells Fargo & Co — Int/Div

WM Wrigley Jr Co — None

Yahoo Inc — None

Zurich Finl Svcs — Int/Div

Zurich Finl Svcs — CO — SOLD

Abbott Labs — Int/Div — Sell

ABN Ambro Hldg — Int/Div — Sell

ABN Ambro Hldg — Int/Div — Sell

ABN Ambro Hldg — Int/Div — Sell

Aktiebolaget Electrolux — Int/Div — Sell

Aktiebolaget Electrolux — Int/Div — Sell

Akzo Nobel NV — Int/Div — Sell

Alltel Corp — Int/Div — Sell

Alltell Corp — Int/Div — Sell

Am Int'l Gp. Inc — Int/Div — Sell

AT&T Inc — Int/Div — Sell

AXA SA i — Int/Div — Sell

BAE System PLC — Int/Div — Sell

BAE System PLC — Int/Div — Sell

Bk New York Mellon — Int/Div — Sell

BNP Paribas — Int/Div

Boeing Co — Int/Div — Sell

Boeing Co — Int/Div — Sell

Br. Sky Broadcasting — None — Buy

Br. Sky Broadcasting — None — Sell

Capital One Finl Corp — Int/Div — Sell

Citadel Broadcasting — Int/Div — Sell

Citadel Broadcasting — Int/Div — Sell

CNODE Ltd — Int/Div — Sell

CNODE Lid — Int/Div — Sell

CNODE Ltd — Int/Div — Sell

Comcast — Int/Div — Sell

Compass Group PLC — Int/Div — Sell

Compass Group PLC — Int/Div — Sell

Credit Suisse Group — Int/Div — Sell

Expedialnc — Int/Div — Sell

Fronthne — Int/Div — Sell

Glaxo Smith Kline — Int/Div — Sell

Halhburton Co Hldgs Co — Int/Div — Sell

Henderson Land Dev Ltd — Int/Div — Sell

Henderson Land Dev Ltd — Int/Div — Sell

Johnson & Johnson — Int/Div — Sell

Kingfischer PLC — Int/Div — Sell

Kraft Foods Inc — Int/Div — Sell

Kroger Co — Int/Div — Sell

Liberty Media Hidgs — Int/Div — Sell

Masco Corp — Int/Div — Sell

Masco Corp — Int/Div — Sell

Masco Corp — Int/Div — Sell

Newell Rubbermaid — Int/Div — Sell

Nokia Corp — Int/Div — Sell

Pall Corp — Int/Div — Sell

Parker-Hannmfin Corp — Int/Div — Sell

Parker-Hanmfin Corp — Int/Div — Sell

Pepisco Inc — Int/Div — Sell

Petrochina Co Ltd — Int/Div — Sell

Posco Spon — Int/Div — Sell

Posco Spon — Int/Div — Sell

Publicas Groupe — Int/Div — Sell

Rio Tinto PLC — Int/Div — Sell

Royal Dutch Shell PLC — Int/Div — Sell

Sanofi-Aventis — Int/Div — Sell

Sempra Energy — Int/Div — Sell

Ship Finance Intl — None — Buy

Ship Finance Intl — Sell

Ship Finance Intl — Sell

Western Asset Money Market Fund — Interest

Ciubank NA South Dakota Bank Deposit Program — Interest

Allstate Corp — Int/Div — Buy

Wachovia Cerp — Int/Div — Buy

American Century Int'l Bond — Interest

Davis NY Venture Fd Inc — Int/Div

Dreyfus Premier Emerging Markets Fund — Int/Div

Euro Pacific Growth Fund — Int/Div

Growth Fund of America — Int/Div

Legg Mason Growth TR Inc — None

RS Smaller Co. Growth Fund — None

T. Rowe Price Equity Income Fund — None

Royce Permier Fund — None

Western Asset Govt Money Market Fund — Interest

Western Asset Core Plus Portfolio — Interest

Reimbursement — Washington & Lee University School of Law — Lexington, Virginia