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
ACE LIMITED Common G0070K103 4,464 43,900 SH   SOLE   36,890 0 7,010
AFLAC INC. Common 001055102 4,890 78,616 SH   SOLE   64,070 0 14,546
AIR PRODUCTS & CHEMICALS INC. Common 009158106 1,912 13,975 SH   SOLE   11,230 0 2,745
ANADARKO PETROLEUM CORP Common 032511107 1,388 17,775 SH   SOLE   14,050 0 3,725
APACHE CORP Common 037411105 1,496 25,955 SH   SOLE   20,350 0 5,605
APPLE COMPUTER INC. Common 037833100 3,307 26,370 SH   SOLE   21,620 0 600
BANCORPSOUTH INC Common 059692103 283 11,000 SH   SOLE   11,000 0 0
BAXTER INTL INC Common 071813109 4,130 59,063 SH   SOLE   46,130 0 12,933
BED BATH & BEYOND INC. Common 075896100 4,216 61,125 SH   SOLE   48,325 0 12,800
C S X CORPORATION Common 126408103 2,692 82,439 SH   SOLE   63,481 0 18,958
CATERPILLAR INC Common 149123101 2,561 30,190 SH   SOLE   21,530 0 8,660
CATERPILLAR INC Common 149123101 85 1,000 SH   OTR   0 0 1,000
CROWN HOLDINGS INC. Common 228368106 3,777 71,380 SH   SOLE   60,420 0 1,500
DEVON ENERGY CORP Common 25179M103 1,395 23,445 SH   SOLE   18,600 0 4,845
DISCOVER FINANCIAL SVCS Common 254709108 3,985 69,155 SH   SOLE   59,025 0 10,130
DOW CHEMICAL Common 260543103 4,879 95,350 SH   SOLE   77,000 0 18,350
DOW CHEMICAL Common 260543103 77 1,500 SH   OTR   0 0 1,500
EMERSON ELECTRIC CO Common 291011104 1,378 24,860 SH   SOLE   12,480 0 12,380
EOG RESOURCES INC Common 26875P101 1,307 14,930 SH   SOLE   11,870 0 3,060
EXPEDITORS INTL OF WASHINGTON INC Common 302130109 3,672 79,650 SH   SOLE   64,975 0 14,675
FLUOR CORP Common 343412102 3,268 61,640 SH   SOLE   47,790 0 13,850
FORD MOTOR CO Common 345370860 2,366 157,595 SH   SOLE   128,295 0 29,300
FRANKLIN STREET PPTYS CORP Common 35471R106 119 10,500 SH   SOLE   10,500 0 0
GENERAL ELECTRIC CO Common 369604103 3,663 137,850 SH   SOLE   107,805 0 30,045
GENERAL ELECTRIC CO Common 369604103 53 2,000 SH   OTR   0 0 2,000
GLAXOSMITHKLINE PLC SP ADR Common 37733W105 3,656 87,781 SH   SOLE   71,300 0 16,481
GOOGLE INC-CL A Common 38259P508 3,237 5,994 SH   SOLE   4,560 0 1,434
HEWLETT-PACKARD CO Common 428236103 4,324 144,070 SH   SOLE   116,750 0 27,320
HONEYWELL INT'L INC. Common 438516106 229 2,250 SH   SOLE   2,050 0 200
INTERNATIONAL PAPER CO. Common 460146103 2,527 53,089 SH   SOLE   45,790 0 7,299
INTL BUSINESS MACHINES Common 459200101 4,724 29,040 SH   SOLE   22,385 0 6,655
INTL BUSINESS MACHINES Common 459200101 65 400 SH   OTR   0 0 400
JACOBS ENGINEERING GRP Common 469814107 3,626 89,260 SH   SOLE   70,200 0 19,060
JACOBS ENGINEERING GRP Common 469814107 45 1,100 SH   OTR   0 0 1,100
JOHNSON CONTROLS INC Common 478366107 4,816 97,239 SH   SOLE   80,150 0 17,089
JOHNSON CONTROLS INC Common 478366107 50 1,000 SH   OTR   0 0 1,000
MACYS INC Common 55616P104 213 3,155 SH   SOLE   1,620 0 1,535
MARSH & MCLENNAN CO INC Common 571748102 322 5,672 SH   SOLE   4,700 0 972
MCDONALD'S CORP Common 580135101 420 4,415 SH   SOLE   3,620 0 795
MICROSOFT CORP Common 594918104 4,002 90,655 SH   SOLE   74,700 0 15,955
MICROSOFT CORP Common 594918104 66 1,500 SH   OTR   0 0 1,500
MUELLER WATER PRODUCTS INC-A Common 624758108 73 8,000 SH   SOLE   0 0 8,000
NOVARTIS AG-ADR Common 66987V109 1,863 18,940 SH   SOLE   16,880 0 2,060
NOVARTIS AG-ADR Common 66987V109 79 800 SH   OTR   0 0 800
OCCIDENTAL PETROLEUM CORP Common 674599105 175 2,250 SH   SOLE   1,975 0 275
ROCK TENN CO. CL A Common 772739207 218 3,627 SH   SOLE   2,500 0 1,127
SANOFI ADR Common 80105N105 142 2,860 SH   SOLE   1,800 0 1,060
SCHLUMBERGER LTD Common 806857108 244 2,836 SH   SOLE   2,485 0 351
TARGET CORP Common 87612E106 189 2,310 SH   SOLE   1,810 0 500
TEREX CORP Common 880779103 2,312 99,430 SH   SOLE   81,335 0 18,095
TOYOTA MOTOR CORP ADR Common 892331307 4,224 31,580 SH   SOLE   26,950 0 4,630
UNITED PARCEL SERVICE-CL B Common 911312106 4,415 45,560 SH   SOLE   35,550 0 10,010
UNITED PARCEL SERVICE-CL B Common 911312106 78 800 SH   OTR   0 0 800
UNITED TECHNOLOGIES CORP Common 913017109 4,169 37,580 SH   SOLE   29,580 0 8,000
VIACOM INC CL B Common 92553P201 243 3,755 SH   SOLE   3,420 0 335
VISA INC CL A Common 92826C839 187 2,790 SH   SOLE   1,974 0 816