13F-HR 1 sept3008.txt FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Bank of America Corp. 7.25% no PFD CV 060505682 2514 3000 SH Sole 3000 Celanese Corp. 4.25% cv. perp. PFD CV 150870202 2959 80000 SH Sole 80000 Chesapeake Energy 4.5% cum. cv PFD CV 165167842 4756 47800 SH Sole 47800 Medis Tech. Ltd. 7.25% srs. A PFD CV 58500P206 375 200 SH Sole 200 NY Community Bancorp, Inc. 6% PFD CV 64944P307 4421 113357 SH Sole 113357 Sovereign Capital Trust IV 4.3 PFD CV 846048205 643 28000 SH Sole 28000 Webster Financial Corp. 8.5% p PFD CV 947890307 4040 4000 SH Sole 4000 Applied Energetics Inc Preferr PRD 03819M205 520 80000 SH Sole 80000 Alleghany Corp. 5.75% mand. cv PFD CV 017175209 2672 8000 SH Sole 8000 Avery Dennison 7.875% HiMEDS u PFD CV 053611307 2588 60000 SH Sole 60000 Bristow Group Inc. 5.5% mand. PFD CV 110394400 1720 40000 SH Sole 40000 Deutsche Bank AG 4.9% mand exc PFD CV 25154H434 4998 165000 SH Sole 165000 Freeport-McMoRan 6.75% mand. c PFD CV 35671D782 3396 40000 SH Sole 40000 LehmanBro. Hldgs. 6% exchnote PFD CV 52522L350 530 100000 SH Sole 100000 McMoRan Exploration Co. mand. PFD CV 582411500 3129 20000 SH Sole 20000 Mylan Inc. 6.5% mandatory cv. PFD CV 628530206 1570 2000 SH Sole 2000 NATIXIS Fin Prod. 12.10% exch. PFD CV 638727AV9 2300 78900 SH Sole 78900 NATIXIS Fin Prod. 7.5% exch. n PFD CV 638727AW7 4467 175450 SH Sole 175450 Schering-Plough Corp. 6% mand. PFD CV 806605705 3287 19000 SH Sole 19000 The Stanley Works floating rat PFD CV 854616208 2827 3500 SH Sole 3500 Vale Cap Ltd 5.5% mand. cv. no PFD CV 91912C208 2280 60000 SH Sole 60000 Vale Cap Ltd 5.5% mand. cv. no PFD CV 91912C307 811 20000 SH Sole 20000 XL Capital Ltd., 7% equity sec PFD CV G98255121 1015 145000 SH Sole 145000 AT&T Inc. common stock (former COM 00206R102 698 25000 SH Sole 25000 Applied Energetics, Inc. commo COM 03819M-P1 13 15448 SH Sole 15448 Johnson & Johnson common stock COM 478160104 1074 15500 SH Sole 15500 Southern Copper Corp. common s COM 84265V105 773 40500 SH Sole 40500