The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC Common 00287Y109 237 3,620 SH   SOLE   2,000 0 1,620
ACE LIMITED Common G0070K103 5,348 46,550 SH   SOLE   38,090 0 8,460
AFLAC INC. Common 001055102 5,295 86,683 SH   SOLE   69,998 0 16,685
AIR PRODUCTS & CHEMICALS INC. Common 037833100 3,536 24,515 SH   SOLE   19,775 0 4,740
ANADARKO PETROLEUM CORP Common 059692103 1,233 14,940 SH   SOLE   11,450 0 3,490
APACHE CORP Common 075887109 1,285 20,500 SH   SOLE   14,500 0 6,000
APPLE COMPUTER INC. Common 075887109 4,073 36,900 SH   SOLE   29,400 0 600
BANCORPSOUTH INC Common 075896100 248 11,000 SH   SOLE   11,000 0 0
BAXTER INTL INC Common 126408103 4,083 55,710 SH   SOLE   42,630 0 13,080
BECTON DICKINSON & CO Common 166764100 3,618 26,000 SH   SOLE   23,550 0 2,450
BECTON DICKINSON & CO Common 166764100 83 600 SH   OTR   0 0 600
BED BATH & BEYOND INC. Common 189754104 5,473 71,850 SH   SOLE   57,050 0 14,800
C S X CORPORATION Common 189754104 3,127 86,302 SH   SOLE   65,050 0 1,500
COACH INC Common 228368106 751 20,000 SH   SOLE   18,900 0 1,100
COACH INC Common 228368106 56 1,500 SH   OTR   0 0 1,500
CROWN HOLDINGS INC. Common 237194105 3,376 66,330 SH   SOLE   53,320 0 13,010
DEVON ENERGY CORP Common 25271C102 1,200 19,600 SH   SOLE   14,500 0 5,100
DIAMOND OFFSHORE DRILLING Common 25271C102 110 3,000 SH   SOLE   2,000 0 1,000
DIAMOND OFFSHORE DRILLING Common 25271C102 22 600 SH   OTR   0 0 600
DISCOVER FINANCIAL SVCS Common 254709108 4,946 75,525 SH   SOLE   64,425 0 11,100
DOW CHEMICAL Common 260543103 5,215 114,330 SH   SOLE   89,150 0 25,180
DOW CHEMICAL Common 260543103 68 1,500 SH   OTR   0 0 1,500
EMC CORP Common 260543103 141 4,750 SH   SOLE   2,400 0 1,500
EMERSON ELECTRIC CO Common 268648102 212 3,440 SH   SOLE   1,540 0 1,900
EOG RESOURCES INC Common 291011104 1,055 11,460 SH   SOLE   8,320 0 3,140
EXPEDITORS INTL OF WASHINGTON INC Common G3223R108 3,751 84,075 SH   SOLE   67,500 0 16,575
EXXON MOBIL CORPORATION Common 302130109 111 1,200 SH   SOLE   0 0 1,200
FLUOR CORP Common 30231G102 3,534 58,290 SH   SOLE   43,040 0 15,250
FORD MOTOR CO Common 343412102 2,961 191,000 SH   SOLE   148,500 0 42,500
FRANKLIN STREET PPTYS CORP Common 345370860 129 10,500 SH   SOLE   10,500 0 0
GLAXOSMITHKLINE PLC SP ADR Common 35471R106 2,920 68,315 SH   SOLE   49,200 0 19,115
HEWLETT-PACKARD CO Common 37733W105 6,372 158,795 SH   SOLE   125,150 0 33,645
HONDA MOTOR CO LTD ADR Common 428236103 1,185 40,150 SH   SOLE   34,350 0 5,800
HONEYWELL INT'L INC. Common 438128308 225 2,250 SH   SOLE   2,050 0 200
INTERNATIONAL PAPER CO. Common 438516106 2,852 53,225 SH   SOLE   42,860 0 10,365
JACOBS ENGINEERING GRP Common 460146103 3,998 89,450 SH   SOLE   69,800 0 19,650
JACOBS ENGINEERING GRP Common 460146103 49 1,100 SH   OTR   0 0 1,100
JOHNSON CONTROLS INC Common 469814107 5,045 104,355 SH   SOLE   84,300 0 20,055
JOHNSON CONTROLS INC Common 469814107 48 1,000 SH   OTR   0 0 1,000
LOWE'S COS INC. Common 469814107 260 3,785 SH   SOLE   2,850 0 935
MACYS INC Common 478160104 252 3,835 SH   SOLE   2,300 0 1,535
MARSH & MCLENNAN CO INC Common 478366107 3,203 55,950 SH   SOLE   47,100 0 8,850
MERCK & CO INC Common 478366107 143 2,520 SH   SOLE   2,300 0 220
MICROSOFT CORP Common 548661107 6,374 137,230 SH   SOLE   107,850 0 29,380
MICROSOFT CORP Common 548661107 70 1,500 SH   OTR   0 0 1,500
MUELLER WATER PRODUCTS INC-A Common 55616P104 82 8,000 SH   SOLE   0 0 8,000
NEWMONT MINING CORP Common 571748102 389 20,600 SH   SOLE   14,600 0 6,000
NOVARTIS AG-ADR Common 589331107 3,580 38,640 SH   SOLE   29,970 0 8,670
NOVARTIS AG-ADR Common 589331107 74 800 SH   OTR   0 0 800
PARTNERRE LTD-BMD Common 594918104 136 1,195 SH   SOLE   845 0 350
PEPSICO INC Common 594918104 132 1,400 SH   SOLE   400 0 1,000
PPG INDUSTRIES INC Common 651639106 205 885 SH   SOLE   350 0 535
PROCTER & GAMBLE CO Common 66987V109 100 1,100 SH   SOLE   300 0 800
QUALCOMM INC Common 66987V109 123 1,650 SH   SOLE   1,050 0 600
ROCK TENN CO. CL A Common G6852T105 4,052 66,450 SH   SOLE   50,200 0 16,250
SANOFI ADR Common 713448108 906 19,875 SH   SOLE   14,395 0 5,480
ST JUDE MEDICAL INC. Common 693506107 193 2,975 SH   SOLE   1,974 0 1,001
TARGET CORP Common 742718109 270 3,560 SH   SOLE   2,910 0 650
TEREX CORP Common 747525103 2,990 107,230 SH   SOLE   86,335 0 20,895
TOYOTA MOTOR CORP ADR Common 772739207 4,246 33,835 SH   SOLE   28,950 0 4,885
UNITED PARCEL SERVICE-CL B Common 80105N105 5,144 46,270 SH   SOLE   35,500 0 10,770
UNITED PARCEL SERVICE-CL B Common 80105N105 89 800 SH   OTR   0 0 800
UNITED TECHNOLOGIES CORP Common 790849103 3,808 33,110 SH   SOLE   24,760 0 8,350
VISA INC CL A Common 87612E106 257 980 SH   SOLE   690 0 290
WHIRLPOOL CORP Common 880779103 339 1,750 SH   SOLE   1,350 0 400