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
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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
3M Company COM 88579Y101 237 1,670 SH   SOLE   150 0 1,520
AT&T Inc COM 00206R102 16,096 456,752 SH   SOLE   53,737 0 401,815
Abbott Labs COM 002824100 13,140 315,945 SH   SOLE   43,650 0 271,495
Aberdeen Japan Equity Fund Inc COM 00306J109 225 31,650 SH   SOLE   0 0 31,650
Advanta Corp. COM 007942105 0 10,000 SH   SOLE   0 0 10,000
Altria Group Inc. COM 02209S103 665 14,470 SH   SOLE   7,257 0 7,213
American Express Co COM 025816109 13,210 150,899 SH   SOLE   20,500 0 130,099
Annaly Capital Management COM 035710409 14,590 1,366,078 SH   SOLE   153,450 0 1,208,828
Apple Inc. COM 037833100 11,416 113,306 SH   SOLE   14,010 0 98,658
Bank Of America Corp COM 060505104 12,553 736,260 SH   SOLE   123,850 0 610,060
Berkshire Hathaway Inc Cl B COM 084670702 7,848 56,811 SH   SOLE   7,225 0 49,361
Boeing COM 097023105 11,390 89,415 SH   SOLE   12,575 0 76,690
Bristol-Myers Squibb Co COM 110122108 709 13,850 SH   SOLE   625 0 13,225
CSX Corp COM 126408103 18,370 572,997 SH   SOLE   74,050 0 497,705
Cabot Oil & Gas Corp COM 127097103 8,486 259,575 SH   SOLE   37,850 0 221,175
Central Fund* COM 153501101 12,549 1,018,965 SH   SOLE   30,075 0 987,190
Chesapeake Energy Corp COM 165167107 460 20,000 SH   SOLE   0 0 20,000
Cisco Sys Inc Com COM 17275R102 22,360 888,360 SH   SOLE   124,400 0 762,360
Coca Cola COM 191216100 14,128 331,182 SH   SOLE   39,100 0 291,382
Conagra Foods Inc. COM 205887102 221 6,700 SH   SOLE   0 0 6,700
ConocoPhillips COM 20825c104 10,803 141,179 SH   SOLE   19,200 0 121,579
Cummins Inc COM 231021106 9,077 68,775 SH   SOLE   9,225 0 59,450
Du Pont E.I. De Nemours & Co. COM 263534109 16,975 236,558 SH   SOLE   36,725 0 199,283
EMC Corp Mass Com COM 268648102 14,659 500,974 SH   SOLE   68,350 0 431,474
Ebay Inc COM 278642103 11,746 207,425 SH   SOLE   28,050 0 178,675
Emerson Electric COM 291011104 12,807 204,653 SH   SOLE   30,450 0 173,703
Enterprise Products Part LP COM 293792107 99 2,448 SH   SOLE   200 0 2,248
Express Scripts Inc COM 30219G108 8,789 124,436 SH   SOLE   16,300 0 107,736
Exxon Mobil Corporation COM 30231g102 13,697 145,633 SH   SOLE   18,900 0 126,483
Fulton Finl Corp Pa Com COM 360271100 128 11,517 SH   SOLE   0 0 11,517
General Electric COM 369604103 24,463 954,847 SH   SOLE   129,325 0 823,422
GlaxoSmithKline PLC COM 37733W105 12,124 263,744 SH   SOLE   17,500 0 245,744
Goldcorp Inc COM 380956409 8,356 362,819 SH   SOLE   51,150 0 310,969
Home Depot COM 437076102 321 3,500 SH   SOLE   0 0 3,500
Intel Corp COM 458140100 24,508 703,861 SH   SOLE   93,545 0 608,666
International Business Machine COM 459200101 11,307 59,566 SH   SOLE   7,925 0 51,541
Intl Paper Co Com COM 460146103 14,150 296,406 SH   SOLE   42,125 0 253,531
Ishares Russell Midcap Index COM 464287499 317 2,000 SH   SOLE   0 0 2,000
Japan Smaller Cap. Fund COM 47109U104 597 61,625 SH   SOLE   3,325 0 58,300
Johnson & Johnson COM 478160104 20,523 192,545 SH   SOLE   25,626 0 166,569
Johnson Controls Inc COM 478366107 9,164 208,270 SH   SOLE   29,225 0 178,238
Kimberly Clark COM 494368103 4,906 45,604 SH   SOLE   6,900 0 38,579
Kinder Morgan Energy COM 494550106 187 2,000 SH   SOLE   225 0 1,775
Market Vectors Gold Miners COM 57060u100 1,015 47,502 SH   SOLE   4,950 0 42,502
Masco Corp COM 574599106 526 22,000 SH   SOLE   0 0 22,000
McCormick & Co COM 579780206 830 12,400 SH   SOLE   5,500 0 6,900
McDonalds Corp COM 580135101 11,051 116,560 SH   SOLE   15,100 0 101,110
Merck & Co COM 58933Y105 16,691 281,569 SH   SOLE   36,875 0 244,194
Microsoft Corp COM 594918104 28,065 605,375 SH   SOLE   84,400 0 519,825
Midcap SPDR Tr Un Sr 1 COM 78467Y107 307 1,230 SH   SOLE   0 0 1,230
Noble Energy Inc COM 655044105 8,409 123,016 SH   SOLE   16,250 0 106,616
Opko Healthcare COM 68375n103 255 30,000 SH   SOLE   0 0 30,000
Oracle Corp Com COM 68389X105 16,013 418,315 SH   SOLE   57,975 0 359,240
PNC Financial Services Group COM 693475105 13,913 162,568 SH   SOLE   22,275 0 139,993
Paychex Inc COM 704326107 10,545 238,580 SH   SOLE   33,975 0 204,155
Pepsico Inc COM 713448108 12,609 135,454 SH   SOLE   25,325 0 109,569
Petroleum & Res Corp Com COM 716549100 232 8,041 SH   SOLE   0 0 8,041
Pfizer COM 717081103 21,251 718,667 SH   SOLE   79,831 0 636,988
Phillip Morris International COM 718172109 698 8,374 SH   SOLE   5,700 0 2,674
PowerShares QQQ Trust COM 73935A104 517 5,237 SH   SOLE   0 0 5,237
Procter and Gamble COM 742718109 18,677 223,029 SH   SOLE   34,381 0 188,013
Qualcomm Inc Com COM 747525103 9,305 124,452 SH   SOLE   17,050 0 107,252
Royal Dutch Shell COM 780259206 455 5,976 SH   SOLE   109 0 5,867
Royal Dutch Shell PLC B COM 780259107 1,445 18,267 SH   SOLE   0 0 18,267
Rydex S&P 500 Equal Weighted I COM 78355w106 2,274 30,000 SH   SOLE   0 0 30,000
SEACO Ltd. COM g79441104 0 50,656 SH   SOLE   0 0 50,656
SPDR Gold Trust COM 78463V107 2,434 20,947 SH   SOLE   2,745 0 18,202
SPDR Tr Unit Ser 1 COM 78462f103 2,700 13,703 SH   SOLE   150 0 13,553
Schlumberger Ltd COM 806857108 11,609 114,157 SH   SOLE   21,650 0 92,182
Silverado Gold Mines Ltd COM 827906207 0 10,000 SH   SOLE   0 0 10,000
Sprott Physical Gold Trust COM 85207h104 199 20,000 SH   SOLE   0 0 20,000
Stryker Corp. COM 863667101 9,318 115,390 SH   SOLE   16,625 0 98,465
Sysco Corp COM 871829107 17,006 448,107 SH   SOLE   64,000 0 383,007
Templeton Emerging Markets COM 880191101 282 15,872 SH   SOLE   100 0 15,772
Texas Instruments Inc COM 882508104 8,595 180,231 SH   SOLE   23,800 0 156,131
Thomson Reuters Corp Com COM 884903105 13,631 374,377 SH   SOLE   54,150 0 319,477
Transcanada Corp COM 89353D107 11,261 218,541 SH   SOLE   28,500 0 189,516
Travelers Companies Inc COM 89417E109 15,973 170,037 SH   SOLE   22,892 0 146,745
TrustCo Bank Corp NY COM 898349105 499 77,500 SH   SOLE   0 0 77,500
US Bancorp COM 902973304 15,717 375,735 SH   SOLE   48,800 0 326,060
Ultra Petroleum Corp. COM 903914109 466 20,000 SH   SOLE   0 0 20,000
United Healthcare Corp COM 91324P102 10,051 116,538 SH   SOLE   15,450 0 100,440
United Parcel Service COM 911312106 9,705 98,737 SH   SOLE   13,050 0 85,387
Vanguard Emerging Markets COM 922042858 7,386 177,071 SH   SOLE   16,300 0 159,971
Vanguard FTSE All-World ex-US COM 922042775 455 9,237 SH   SOLE   0 0 9,237
Vanguard S&P 500 ETF COM 922908363 1,636 9,061 SH   SOLE   0 0 9,061
Verizon Communications Com COM 92343v104 17,704 354,146 SH   SOLE   46,640 0 306,656
Vodafone COM 92857W308 11,292 343,311 SH   SOLE   29,200 0 313,061
WalMart Stores COM 931142103 11,982 156,690 SH   SOLE   23,550 0 132,865
Waste Mgmt Inc Del Com COM 94106L109 20,573 432,832 SH   SOLE   49,478 0 382,104
Wells Fargo & Co New Com COM 949746101 13,936 268,680 SH   SOLE   32,500 0 235,730
Yamana Gold Inc COM 98462Y100 88 14,595 SH   SOLE   0 0 14,595
iShares Comex Gold COM 464285105 2,022 172,845 SH   SOLE   8,450 0 164,095
iShares Dow Jones Select Div I COM 464287168 3,185 43,122 SH   SOLE   375 0 42,747
iShares High Dividend Equity F COM 46429B663 1,294 17,196 SH   SOLE   0 0 17,196
iShares MSCI Japan COM 464286848 13,539 1,150,325 SH   SOLE   94,875 0 1,052,050
iShares Tr S&P 500 Index COM 464287200 309 1,559 SH   SOLE   0 0 1,559
SBA Communications Corp COM 78388J106 930 8,388 SH   SOLE   0 0 8,388
Thermo Fisher Scientific Inc COM 883556102 426 3,500 SH   SOLE   0 0 3,500