James Maxwell Moody

PNC Bank

One Bank — Interest

Bank of America — Interest

Regions Bank — Interest

Telco Fed. Credit Union — Int/Div

A Very Special Tea Room — None — Note 1, Part VIII

Regions Bank/Morgan Keegan (IRA) — Interest

Janus Global Tech Fnd — Interest

Vanguard Growth Index Fund (IRA) — Interest

BH&M Oil Comm. Stock — Int/Div

Putnam Amer. Growth & Income Fnd — Int/Div

Amer. Funds AMCAP Fnd — Int/Div

Fidelity Eq. Aggr. Growth Fnd — Int/Div

MSDW Competitive Edge Fnd — Int/Div

Morgan Stanley Com. Stock — Transfer — Note 2, Part VIII

Wal-Mart Stores Com. Stock — Transfer — Note 2, Part VIII

MS Spectrum Technical — Transfer — Note 2, Part VIII

MS Spectrum Currency — Transfer — Note 2, Part VIII

US Gov MM Trst Fnds — Redeem — Note 2, Part VIII

ACCT 1-2 (IRA) (MS) — Int/Div

IShares Russell 2000 Value Fund

IShares Russell 2000 Growth

IShares Russell 1000 Gr Index

Shares Russell 1000 Value Index — Note 3, Part VIII

IShares Russell Midcap G Index Fd

IShares S&P Midcap 400 Value

IShares S&P Midcap 400 Growth

IShares S&P 500 Growth Index

IShares MSCI Emerging Mkts Fd

IShares S&P Europe 350 Mkt Fnd — Note 4, Part VIII

IShares MSCI Japan Index Fnd

Liquid Asset MM Fund

ACCT 1-3 (SA) (Y) — Closed — Note S, Part VIII

LR AR School Dist. Ser. B — Transfer — Note 5, Part VIII

Pu] Cnty AR Chldm's Hosp — Transfer — Note 5, Part VIII

Heber Springs School District — Transfer — Note 5, Part VIII

Fed Home Loan Mtge Corp Med Term Note — Transfer — Note 5, Part VIII

General Motors Corp Note — Transfer — Note 5, Part VIII

Muni Cash Trust Fnds — Tranfer — Note 5, Part VIII

AR St Rfdg Water Waste Disp & Pollution Muni Debt — Transfer — Note 5, Part VIII

ACCT 1-4 (Trust]) (SA) — Int/Div

Greene Cnty AR Housing

Pul Cnty AR Hsp Revs Chldm's Hosp

Union Cnty AR Housing

AR Div Fin Auth SFM Ser B — part

AR Div Fin Auth SFM Ser B — Redeem

Pul Cnty AR Hith. Fac. Catholic

UA-Faytvl Var Fac

Jonesboro AR Res Housing

Drew Cty AR School Dist 5

Rogers AR School Dist — Redeem

Springdale AR Sch Dist #50

Booneville AR School Dist

Heber Springs AR School District — Redeem

Springdale AR SD050

LR AR Hlth Fac Bd Baptist Med Center

Conway AR Pub Fac Bd Cap Impts Rev Ref Hendrix

Paragrould AR Water & Sewer Rev B/E

AR St Rfdg Water Waste Disp & Poll C B/E

AR St Univ Rev Hsg Sys FGIC B/E

NLR Hlth Fac Bd Hith Care RV Ref Bap Hlth B/E

Ft.Smith AR W&S Rev Ser CFSA B/E — Buy

ACCT 1-5 (IRA) (MS) — Interest

MS Liquid Asset MM Fnds

ACCT 1-6 (Trust?)

ACCT 1-6.a (Trust?) (EDI) — Int/Div

First Southwest Prime MM Fnds

ABN AMRO Holding NV

AT&T — Sale

AT&T — Sold

AKZO Nobrl NV — Sold

Alcoa, Inc — Sale

Alcoa, Inc — Sold

American Home Mtge Inv — Buy

American Home Mtge Inv — Sold

BP Amoco

Banco Bilbaovizcaya

Banco Santander Cen — Sold

Bank of America Corp

Baxter Int. Inc — Sold

Bayerische

Berkshire Hathaway, Inc

Bristol Myers Squibb Co

CIT Group, Inc

Coca-Cola Co

Coca-Cola Co — Buy

Coca-Cola Co — Sold

Costco

Dow Chemical Co

Federated Dept. Stores

General Motors Corp

General Motors Corp — Sale

Intel Corp

International Paper Co

IShares MSCI Japan Indx Fd — Buy

J. Sainsbury

J.P. Morgan Chase & Co — Sold

Johnson & Johnson, Inc

Jones Apparel Group, Inc

Kimberly-Clark Corp — Sold

Koninklijke

Lafarge S.A

Limited Brands, Inc

MGIC Investment Corp

Markel Corp

Matsushita Elec. Ind — Sold

McDonalds Corp — Sale

Microsoft Corp.

NeenahPaper, Inc

Newmont Mining Corp — Buy

Petroleo Brasileiro SA

Pfizer, Inc

Public Service Ent. Group, Inc — Sale

Public Service Ent. Group, Inc — Sold

Repsol SA

Spectra Energy Corp — Buy

Sumitomo Mitsui

TXU Corp — Sold

Taiwan Semiconductor Mfg

Telefonica de Espana SA

Telefonos de Mexico

Tim Participacoes

Unilever NV

Vivo Participacoes SA

Washington Mutual, Inc

Wells Fargo & Co

Western Union

Calamos Growth CL C

Davis NY Venture CL C

ACCT 1-7 (Trust3) (MS) — Int/Div — Opened — Note 2, Part VIII

Morgan Stanley Com. Stock — Transfer — Note 2, Part VIII

Wal-Mart Stores Com. Stock — Transfer — Note 2, Part VIII

MS Spectrum Technical — Transfer — Note 2, Part VIII

MS Spectrum Currency — Transfer — Note 2, Part VIII

MS MM fonds — Opened

Discover Fincl Sves (X) — Spin-off

ACCT 1-8 (Trustd) (SA) — Int/Div — Opened — Note 5, Part VIII

LR AR School Dist. Ser. B — Transfer — Note 5, Part VIII

Pul Cnty AR Chldm's Hosp — Transfer — Note 5, Part VIII

Heber Springs School District — Tranfer — Note 5, Part VIII

Fed Home Loan Mtge Corp Med Term Note — Transfer — Note S, Part VIII

General Motors Corp Note — Transfer — Note 5, Part VIII

Mum Cash Trust Fnds — Transfer — Note 5, Part VIII

AR St Rfdg Water Waste Disp & Pollution Muni Debt — Transfer — Note 5, Part VIII

ACCT 2-1 (MS)

Money Trust MM Fnds — Interest

Apple, Inc — Buy

Apple, Inc — Transfer — Note 6, Part VIII

Chevron Texaco — Int/Div

First Horizen National Corp — Int/Div

SunTrust Banks — Int/Div

General Electric Co — Int/Div — Sale

Pfizer, Inc — Sold

Duke Energy Holding Co — Sold

Sotheby's Holding, Inc — Sold

Spectra Energy Corp — Sold

ACCT 2-2 (IRA) (MS) — Int/Div

Liquid Asset MM funds

FedEx Corp

Intel — Sale

General Electric

Yahoo, Inc

Healthways, Inc

MS Flexible Income Trust B

Activision Inc

Blackstone Group LP — Buy

Morgan Stanley — Buy

ACCT 2-3 (Trust5) (MS) — Int/Div — Note 7, Part VIII

Cisco

Dell Computer

General Electric

Microsoft

Morgan Stanley

Lyondell Chemical — Sold

Brazos Cnty TX Health Facs — Redeem

Tarrant Cnty TX Health Resources Tacs

MS Tax Exempt Sec — Sale

Enterprise Bnk Natl Assoc Omaha NE — Buy

Greenbank CD — Buy

Discover Fincl Svcs (X) — Spin-off

ACCT 2-4 (IRA) (MS) — Int/Div

Liquid Asset Fund

San Diego Cnty CA Pension Ob Ser — Sold

Vemon CA Elec Sys Rev Ser — Sold

MEAG PJ One — Sold

Citizens PPTY BE — Buy

Citizens PPTY BE — Sold

One Bank — Interest

Bank of America — Interest

Regions Bank — Interest

Telco Fed. Credit Union — Int/Div

A Very Special Tea Room — None — Note , Part VIII

Regions Bank/Morgan Keegan (IRA) — Interest

Janus Global Tech Fnd — Interest

Vanguard Growth Index Fund (IRA) — Interest

BH&M Oil Comm. Stock — Int/Div

Putnam Amer. Growth & Income Fnd — Int/Div

Amer. Funds AMCAP Fnd — Int/Div

Fidelity Eq. Aggr. Growth Fnd — Int/Div

MSDW Competitive Edge Fnd — Int/Div

ACCT 1-1 (MS) (Y) — Closed — Note 2. Part VIII

Morgan Stanley Com. Stock — Transfer — Note 2, Part VIII

Wal-Mart Stores Com. Stock — Transfer — Note 2, Part VIII

MS Spectrum Technical — Transfer — Note 2, Part VIII

MS Spectrum Currency — Transfer — Note 2, Part VIII

US Gov MM Trst Fnds — Redemption — Note 2, Part VIII

ACCT 1-2 (IRA) (MS) — Int/Div

IShares Russell 2000 Value Fund

IShares Russell 2000 Growth

IShares Russell 1000 Gr Index

Shares Russell 1000 Value Index — Note 3, Part VIII

IShares Russell Midcap G Index Fd

IShares S&P Midcap 400 Value

IShares S&P Midcap 400 Growth

IShares S&P 500 Growth Index

IShares MSCI Emerging Mkts Fd

IShares S&P Europe 350 Mkt Fnd — Note 4, Part VIII

IShares MSCI Japan Index Fnd

Liquid Asset MM Fund

ACCT 1-3 (SA) (Y) — Closed — Note 5, Part VIII

LR AR School Dist. Ser. B — Transfer — Note 5, Part VIII

Pul Cnty AR Chldm's Hosp — Transfer — Note S, Part VIII

Heber Springs School District — Transfer — Note S, Part VIII

Fed Home Loan Mtge Corp Med Term Note — Transfer — Note S, Part VIII

General Motors Corp Note — Transfer — Note S, Part VIII

Mum Cash Trust Fnds — Tranfer — Note S, Part VIII

AR St Rfdg Water Waste Disp & Pollution Muni Debt — Transfer — Note 5, Part VIII

Greene Cnty AR Housing

Pul Cnty AR Hsp Revs Chldm's Hosp

Union Cnty AR Housing

AR Div Fin Auth SFM Ser B — part

AR Div Fin Auth SFM Ser B — Redeem

Pul Cnty AR Hlth. Fac. Catholic

Jonesboro AR Res Housing

Drew Cty AR School Dist §

Springdale AR Sch Dist #50

Booneville AR School Dist

Heber Springs AR School District — Redeem

Springdale AR SD050

LR AR Hlth Fac Bd Baptist Med Center

Conway AR Pub Fac Bd Cap Impts Rev Ref Hendrix

Paragrould AR Water & Sewer Rev B/E

ARSt Rfdg Water Waste Disp & Poll C B/E

AR St Univ Rev Hsg Sys FGIC B/E

NLR Hlth Fac Bd Hlth Care RV Ref Bap Hlth B/E

Ft.Smith AR W&S Rev Ser C FSA B/E — Buy

ACCT 1-5 (IRA) (MS) — Interest

MS Liquid Asset MM Fnds

Activision, Inc

ACCT 1-6 (Trust?)

Real estate, Van Buren Cnty, AR — None

ACCT 1-6.a (Trust2) (EDI) — Int/Div

First Southwest Prime MM Fnds

ABN AMRO Holding NV

AT&T — Partial

AT&T — Sell

AKZO Nobrl NV — Sell

Alcoa, Inc — Partial

American Home Mtge Inv — Buy

American Home Mtge Inv — Sell

BP Amoco

Banco Bilbaovizcaya

Bank of America Comp

Baxter Int. Inc — Sell

Bayerische

Berkshire Hathaway, Inc

Bristol Myers Squibb Co

CIT Group, Inc

Chubb Corp

Coca-Cola Co.

Coca-Cola Co. — Buy

Coca-Cola Co. — Partial

Coca-Cola Co. — Sell

Costco

93. - Walt Disney Co — Sell

Dow Chemical Co

Federated Dept. Stores

Fiserv, Inc

General Motors Corp.

GlaxoSmithKline

IBM Corp — Partial

IBM Corp — Partial

ING Groep

Intel Comp

International Paper Co

Shares MSCI Japan Indx Fd — Buy

J. Sainsbury

J.P. Morgan Chase & Co — Sell

Johnson & Johnson, Inc

Jones Apparel Group, Inc

Kimberly-Clark Corp — Sell

Koninklijke

LafargeS.A

Lexmark Int. Group

Limited Brands, Inc

MGIC Investment Corp.

Markel Corp

Matsushita Elec. Ind. — Sell

McDonalds Corp — Partial

McDonalds Corp — Sell

Microsoft Corp

Neenah Paper, Inc

Newmont Mining Corp — Buy

PNC Bank

Petroleo Brasileiro SA

Pfizer, Inc

Public Service Ent. Group, Inc — Partial

Public Service Ent. Group, Inc — Sell

Repsol SA

Spectra Energy Corp. — Buy

Sumitomo Mitsui

TXU Corp. — Sell

Taiwan Semiconductor Mfg

Telefonica de Espana SA

Telefonos de Mexico

Tim Participacoes

Unilever NV

Vivo Participacoes SA

Wells Fargo & Co

Western Union

Calamos Growth CL C

Davis NY Venture CL C

ACCT 1-7 (Trust3) (MS) — Int/Div — Opened — Note 2, Part VIII

Morgan Stanley Com. Stock — Transfer — Part 2, Part VIII

Wal-Mart Stores Com. Stock — Transfer — Part 2, Part VIII

MS Spectrum Technical — Transfer — Part 2, Part VIII

MS Spectrum Currency — Transfer — Part 2, Part VIII

MS MM fonds

ACCT 1-8 (Trustd) (SA) — Int/Div — Opened — Note 5, Part VIII

LR AR School Dist. Ser. B — Transfer — Note 5, Part VIII

Pul Cnty AR Chldrn's Hosp — Transfer — Note S, Part VIII

Heber Springs School District — I'ranfer — Note 5S. Part VIII

Fed Home Loan Mtge Corp Med Term Note — Transfer — Note S, Part VIII

General Motors Corp Note — Transfer — Note 5, Part VIII

Muni Cash Trust Fnds — Transfer — Note S, Part VIII

AR St Rfdg Water Waste Disp & Pollution Muni Debt — Transfer — Note S, Part VIII

ACCT 2-1 (MS)

Money Trust MM Fnds — Interest

Apple, Inc — Buy

Apple, Inc — Transfer — Note 6, Part VIII

Chevron Texaco — Int/Div

First Horizon National Corp — Int/Div

SunTrust Banks — Int/Div

General Electric Co. — Int/Div — Partial

Pfizer. Inc — Sell

Duke Energy Holding Co — Sell

Sotheby's Holding, Inc — Sell

Spectra Energy Corp — Sell

ACCT 2-2 (IRA) (MS) — Int/Div

Liquid Asset MM funds

FedEx Corp

Intel — Sale

General Electric

Qualcomm, Inc

Yahoo. Inc

Healthways, Inc

MS Flexible Income Trust B

Activision Inc

Activision Inc — Buy

Blackstone Group LP — Buy

Morgan Stanley — Buy

ACCT 2-3 (Trust5) (MS) — Int/Div — Note 7, Part VIII

Cisco

Dell Computer

General Electric

Microsoft

Morgan Stanley

Lyondell Chemical — Sold

Brazos Cnty TX Health Facs — Redeem

Harris Cnty TX Health Facs. — Redeem

Tarrant Cnty TX Health Resources Tacs

MS Tax Exempt Sec — Sale

Enterprise Bnk Natl Assoc Omaha NE — Buy

Discover Finan Svcs (spinoff of Morgan Stanley)

ACCT 2-4 (IRA) (MS) — Int/Div

Liquid Asset Fund

San Diego Cnty CA Pension Ob Ser — Sold

Vemon CA Elec Sys Rev Ser — Sold

Nebraska Pub Pwr Dist Rev-A — Sold

MEAG PJ One — Sold

Citizens PPTY BE — Buy

Citizens PPTY BE — Sold

Banco Santander CD — Buy

Agreement — pdm re. “ol x 8 mm Se, (an)

Agreement — 3, — = 7 ad a J Ss 0&5 Mm ry iN pa,

Spouse's income — 2007 — Tutoring

Yili. ADDL 1 1VINAL HINT UNRNIVIA LIUIN UIN LAL LANA LAULIND. (Indicate part of Keport.)

Note 1: Part VII, Line 5 -- No assets; retain public rights only.

Note 2: Part VII, Lines 14-18 -- Assets in Acct 1-1 transferred to Acct 1-7 (Trust3) on Lines 142-147.

Note 3:

Part VII, Line 24 -- Asset erroneously reported as "Sell" on 2006 Report at Line 27; should have been "partial sale."

Note 4:

Part VII, Line 30 -- Asset erroneously identified as "250" on 2006 Report at Line 39; corrected to "350."

Note 5:

Part VII, Lines 33-40 -- Assets in Acct 1-3 transferred to Acct. 1-8 (Trustd) on Lines 148-155.

Note 6:

Part VII, Line 159 -- Asset transferred out of account as gift to (ID

Note 7:

Part VII, Line 181 -- Filer holds no position in Acct. 2-3 (TrustS5).

Note 8:

Part VII, Line 207 -- Asset erroneously omitted from prior reports (CY 2005 and 2006); acquired 10/05, value "M."

Note 9:

CY 2006 Report - Part VII, Line 208 -- Asset of no value; removed from account 3/06; erroneously not reported as "(Y)."