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
ARM Holdings plc COM 042068106 1,144 26,450 SH   SOLE   26,450 0 0
AT&T Corp. (New) COM 00206R102 2,005 61,533 SH   SOLE   60,949 0 584
AbbVie, Inc. COM 00287Y109 2,215 40,710 SH   SOLE   40,710 0 0
Abbott Laboratories COM 002824100 1,728 42,974 SH   SOLE   42,974 0 0
American Express COM 025816109 1,534 20,700 SH   SOLE   20,700 0 0
Anheuser Busch InBev COM 03524a108 893 8,400 SH   SOLE   8,400 0 0
Annaly Mortgage Management, In COM 035710409 246 24,966 SH   SOLE   24,966 0 0
Apple Computer COM 037833100 456 4,135 SH   SOLE   4,135 0 0
Avista (formerly Washington Wa COM 05379B107 239 7,200 SH   SOLE   7,200 0 0
Bristol-Myers Squibb COM 110122108 2,293 38,725 SH   SOLE   38,125 0 600
Bunge Ltd. COM G16962105 1,228 16,750 SH   SOLE   16,750 0 0
CSX Corp. COM 126408103 2,335 86,800 SH   SOLE   86,800 0 0
Caterpillar Inc. COM 149123101 288 4,400 SH   SOLE   4,400 0 0
Chevron Corporation (fmly. Che COM 166764100 1,783 22,609 SH   SOLE   22,309 0 300
Chubb Corporation COM 171232101 1,717 14,000 SH   SOLE   14,000 0 0
Clorox Co. COM 189054109 3,952 34,207 SH   SOLE   34,207 0 0
ConocoPhillips COM 20825C104 1,349 28,120 SH   SOLE   28,120 0 0
Copart Inc. COM 217204106 920 27,975 SH   SOLE   27,975 0 0
DNP Select Income Fund (fmly. COM 23325p104 916 101,978 SH   SOLE   101,978 0 0
Duke Energy COM 264399106 260 3,610 SH   SOLE   3,610 0 0
Duke-Weeks Realty Corp. COM 264411505 263 13,800 SH   SOLE   13,000 0 800
Edison International (formerly COM 281020107 303 4,800 SH   SOLE   4,800 0 0
Elements Rogers International COM 870297801 90 17,300 SH   SOLE   17,300 0 0
Engie (formerly GDF Suez S.A.) COM 29286D105 963 59,800 SH   SOLE   59,800 0 0
Essex Property Trust COM 297178105 2,053 9,187 SH   SOLE   9,009 0 178
ExxonMobil COM 30231g102 283 3,800 SH   SOLE   3,800 0 0
Frontier Communications COM 35906a108 184 38,840 SH   SOLE   38,840 0 0
General Electric COM 369604103 1,422 56,390 SH   SOLE   56,390 0 0
HCP, Inc. COM 40414L109 1,064 28,574 SH   SOLE   28,574 0 0
Hawaiian Electric COM 419870100 1,822 63,517 SH   SOLE   63,517 0 0
Healthcare Services Group, Inc COM 421906108 222 6,600 SH   SOLE   6,600 0 0
Intel Corp. COM 458140100 2,673 88,700 SH   SOLE   88,700 0 0
International Business Machine COM 459200101 1,118 7,710 SH   SOLE   7,710 0 0
Johnson & Johnson COM 478160104 1,326 14,200 SH   SOLE   14,200 0 0
Kimberly-Clark COM 494368103 1,703 15,620 SH   SOLE   15,620 0 0
Leggett & Platt, Inc. COM 524660107 705 17,100 SH   SOLE   17,100 0 0
Lilly, Eli COM 532457108 1,954 23,350 SH   SOLE   23,350 0 0
Lockheed Martin Corp. COM 539830109 1,088 5,250 SH   SOLE   5,250 0 0
Mattel, Inc. COM 577081102 552 26,200 SH   SOLE   26,200 0 0
Merck & Co. COM 589331107 2,979 60,308 SH   SOLE   59,508 0 800
Microchip Technology, Inc. COM 595017104 1,911 44,350 SH   SOLE   44,350 0 0
Microsoft COM 594918104 1,807 40,835 SH   SOLE   40,035 0 800
Open Joint Stock Co. Gazprom COM 368287207 419 103,200 SH   SOLE   103,200 0 0
Oracle Corp. COM 68389X105 903 25,000 SH   SOLE   25,000 0 0
Overstock.com COM 690370101 407 23,700 SH   SOLE   23,200 0 500
PG&E Corporation COM 69331C108 659 12,479 SH   SOLE   12,479 0 0
PPG Industries COM 693506107 200 2,282 SH   SOLE   2,282 0 0
Pepco Holdings, Inc. COM 737679100 912 37,650 SH   SOLE   37,650 0 0
Pepsico Inc. COM 713448108 1,629 17,273 SH   SOLE   16,973 0 300
Petroleo Brasileiro S.A. COM 71654v408 110 25,300 SH   SOLE   25,300 0 0
Pfizer Inc. COM 717081103 925 29,457 SH   SOLE   29,457 0 0
Phillips 66 COM 718546104 961 12,510 SH   SOLE   12,510 0 0
Plum Creek Timber Company, Inc COM 729251108 1,237 31,300 SH   SOLE   30,800 0 500
ProShares Short S&P 500 COM 74347R503 3,105 137,935 SH   SOLE   137,935 0 0
Procter & Gamble COM 742718109 12,528 174,150 SH   SOLE   173,850 0 300
Public Storage COM 74460D109 1,941 9,174 SH   SOLE   8,974 0 200
Qualcomm Inc. COM 747525103 828 15,414 SH   SOLE   15,414 0 0
Realty Income Corp. COM 756109104 261 5,500 SH   SOLE   5,500 0 0
Sanofi-Aventis SA COM 80105N105 1,207 25,434 SH   SOLE   25,434 0 0
Senior Housing Properties COM 81721M109 551 34,030 SH   SOLE   34,030 0 0
Southern Company COM 842587107 1,482 33,150 SH   SOLE   33,150 0 0
Statoil ASA COM 85771p102 521 35,800 SH   SOLE   35,800 0 0
Telefonica de Espana S.A. ADR COM 879382208 136 11,336 SH   SOLE   11,336 0 0
The Chef's Warehouse COM 163086101 307 21,700 SH   SOLE   21,200 0 500
Total S.A. ADR COM 89151E109 1,066 23,850 SH   SOLE   23,850 0 0
Unilever PLC COM 904767704 1,439 35,290 SH   SOLE   35,290 0 0
United Parcel Service COM 911312106 1,204 12,200 SH   SOLE   12,200 0 0
United Technologies COM 913017109 1,468 16,491 SH   SOLE   16,491 0 0
UnitedHealth Group Inc. COM 910581107 2,448 21,100 SH   SOLE   21,100 0 0
Ventas, Inc. COM 92276F100 981 17,500 SH   SOLE   17,500 0 0
Verizon Corporation COM 92343V104 1,151 26,459 SH   SOLE   26,459 0 0
ASA (Bermuda) Limited COM G3156P103 880 112,480 SH   SOLE   110,980 0 1,500
AngloGold Ashanti Ltd. COM 035128206 171 20,900 SH   SOLE   20,900 0 0
Barrick Gold Corporation COM 067901108 159 24,925 SH   SOLE   24,925 0 0
Central Fund of Canada Ltd. COM 153501101 2,879 271,864 SH   SOLE   271,864 0 0
Freeport McMoRan Inc. COM 35671D857 257 26,474 SH   SOLE   26,474 0 0
Goldcorp, Inc. COM 380956409 1,687 134,760 SH   SOLE   133,260 0 1,500
Hecla Mining COM 422704106 139 70,807 SH   SOLE   70,807 0 0
IAMGOLD Corporation COM 450913108 223 136,900 SH   SOLE   136,900 0 0
Kinross Gold Corporation COM 496902404 152 88,450 SH   SOLE   88,450 0 0
Newmont Mining COM 651639106 1,327 82,568 SH   SOLE   81,568 0 1,000
Pan American Silver Corp. COM 697900108 472 74,400 SH   SOLE   74,400 0 0
Silver Wheaton Corp. COM 828336107 1,194 99,400 SH   SOLE   99,400 0 0
Sprott Physical Gold Trust ETF COM 85207H104 2,322 252,902 SH   SOLE   252,402 0 500
Sprott Physical Silver Trust E COM 852075107 204 35,950 SH   SOLE   35,950 0 0
Yamana Gold, Inc. COM 98462Y100 278 163,425 SH   SOLE   163,425 0 0