INSTRUMENT	ISSUER	INT_RATE	Purchase Date	Maturity Date	Cost	Face Value	MARKET VALUE	BANK	ACCOUNT_NO	AMORTIZED VALE			12/31/2004
BOND	BCMFA	4.66	22-Apr-2004	22-Apr-2011	999,400.00	1,000,000.00	1,017,450.00	422023	########
BOND	BCMFA	5.03	22-Apr-2004	22-Apr-2013	998,900.00	1,000,000.00	1,035,600.00	422023	########
BA	BMO	2.56	20-Oct-2004	14-Jan-2005	7,355,600.00	7,400,000.00	7,392,772.09
BOND	BNS	4.04	10-Dec-2004	10-Dec-2005	2,000,000.00	2,000,000.00	1,998,580.00	422023	########
BA	BNS	2.62	25-Nov-2004	14-Feb-2005	9,942,200.00	10,000,000.00	9,967,888.89
BDN	BNS	2.52	16-Dec-2004	08-Mar-2005	7,954,960.00	8,000,000.00	7,963,199.02
BA	BNS	2.62	25-Nov-2004	14-Feb-2005	7,953,760.00	8,000,000.00	7,974,311.11
BA	BNS	2.52	10-Dec-2004	14-Feb-2005	12,940,980.00	13,000,000.00	12,959,759.09
BOND	CHT	3.61	17-Mar-2004	15-Mar-2009	998,780.00	1,000,000.00	995,110.00	422023	########
BOND	CIBC	3.53	05-Aug-2003	05-Aug-2005	3,000,000.00	3,000,000.00	3,009,420.00	422023	########
BOND	CIBC	4.38	26-Mar-2004	26-Mar-2009	10,365,000.00	10,000,000.00	10,133,100.00	422023	########
BA	CIBC	2.64	15-Dec-2004	28-Oct-2005	11,731,080.00	12,000,000.00	11,744,653.25
BA	CIBC	2.64	15-Dec-2004	28-Oct-2005	7,820,720.00	8,000,000.00	7,829,768.83
BOND	CMHC	5.57	31-Jan-2001	01-Dec-2005	1,031,310.00	1,000,000.00	1,033,420.00	422023	########
BOND	CMHC	5.57	31-Jan-2001	01-Dec-2005	773,482.00	750,000.00	775,065.00	422023	########
BOND	CMHC	5.95	28-May-2001	01-Dec-2006	2,429,500.00	2,500,000.00	2,603,375.00	422023	########
BOND	CMHC	4.20	20-Sep-2004	15-Sep-2009	1,020,270.00	1,000,000.00	1,036,630.00	422023	########
BOND	FARM CREDIT	4.04	18-Mar-2004	18-Mar-2005	1,000,000.00	1,000,000.00	985,170.00	422023	########
BOND	FARM CREDIT	4.04	05-May-2004	05-May-2005	1,500,000.00	1,500,000.00	1,493,010.00	422023	########
BOND	FARM CREDIT	3.48	25-Dec-2004	25-Jun-2005	1,000,000.00	1,000,000.00	995,420.00	422023	########
BOND	FARM CREDIT	4.04	07-Jul-2004	07-Jul-2005	1,500,000.00	1,500,000.00	1,500,900.00	422023	########
BOND	FARM CREDIT	4.19	06-Aug-2004	06-Aug-2005	1,000,000.00	1,000,000.00	994,350.00	422023	########
BOND	FARM CREDIT	4.39	22-Sep-2004	22-Sep-2005	2,000,000.00	2,000,000.00	1,998,980.00	422023	########
BOND	FARM CREDIT	4.04	01-Dec-2004	01-Dec-2005	1,000,000.00	1,000,000.00	1,002,440.00	422023	########
BOND	GOV CAN	5.55	07-May-2001	01-Dec-2006	3,217,200.00	3,000,000.00	3,218,910.00	422023	########
BOND	GOV CAN	5.24	31-Aug-2001	01-Jun-2007	5,511,000.00	5,000,000.00	5,473,300.00	422023	########
BOND	GOV CAN	4.20	10-Jul-2003	01-Jun-2009	2,138,920.00	2,000,000.00	2,152,000.00	422023	########
BOND	GOV CAN	4.32	31-Mar-2004	01-Jun-2013	2,146,000.00	2,000,000.00	2,145,080.00	422023	########
BOND	GOV CAN	4.84	19-Apr-2004	41,791.00	2,034,320.00	2,000,000.00	2,107,400.00	422023	########
BOND	GOV CAN	4.99	22-Jan-2002	01-Jun-2008	2,115,000.00	2,000,000.00	2,177,443.00
BOND	GOV CAN	4.45	18-Mar-2003	01-Jun-2008	1,610,400.00	1,500,000.00	1,633,082.25
BOND	GOV CAN	4.62	08-Apr-2004	01-Jun-2013	2,101,600.00	2,000,000.00	2,153,830.00
BOND	GOV CAN	4.66	07-Apr-2004	01-Jun-2014	2,063,540.00	2,000,000.00	2,115,619.20
BOND	HALTON	4.68	13-Feb-2004	12-Feb-2012	989,018.00	991,000.00	1,006,459.60	422023	########
BA	HONGKONG	2.65	18-Nov-2004	14-Jan-2005	9,958,800.00	10,000,000.00	9,989,880.70
BA	HONGKONG	2.73	18-Nov-2004	14-Feb-2005	5,960,760.00	6,000,000.00	5,979,934.09
BOND	LONDON	4.58	19-Sep-2003	19-Sep-2009	498,830.00	500,000.00	512,030.00	422023	########
CD	MANULIFE	2.67	01-Dec-2004	01-Mar-2005	9,500,000.00	9,562,543.84	9,520,847.95
BA	MANULIFE	2.67	01-Dec-2004	01-Mar-2005	1,500,000.00	1,509,875.34	1,503,291.78
BOND	ON	5.06	07-Oct-2004	08-Mar-2014	2,000,880.00	2,000,000.00	2,065,220.00	422023	########
BOND	ON	5.05	08-Oct-2004	08-Mar-2014	1,000,830.00	1,000,000.00	1,032,610.00	422023	########
BOND	ONT	4.57	31-Jan-2003	31-Jan-2005	1,990,000.00	2,000,000.00	2,000,480.00	422023	########
BOND	ONT	6.75	16-May-2000	08-Mar-2005	984,080.00	1,000,000.00	1,006,530.00	422341	########
BOND	ONT	6.13	01-Nov-2000	08-Mar-2005	3,022,800.00	3,000,000.00	3,019,590.00	422023	########
BOND	ONT	4.35	17-Apr-2003	17-Apr-2005	2,000,000.00	2,000,000.00	1,993,340.00	422341	########
BOND	ONT	4.19	20-May-2003	20-May-2005	1,500,000.00	1,500,000.00	1,496,160.00	422023	########
BOND	ONT	4.09	02-Jun-2003	02-Jun-2005	1,500,000.00	1,500,000.00	1,497,105.00	422023	########
BOND	ONT	4.68	21-Jun-2002	21-Jun-2005	500,000.00	500,000.00	563,940.00	422023	########
BOND	ONT	4.68	24-Jun-2002	21-Jun-2005	1,500,000.00	1,500,000.00	1,691,820.00	422023	########
BOND	ONT	3.79	18-Jul-2003	18-Jul-2005	5,000,000.00	5,000,000.00	5,024,600.00	422023	########
BOND	ONT	5.41	01-Mar-2001	27-Sep-2005	3,217,200.00	3,000,000.00	3,093,300.00	422023	########
BOND	ONT	5.47	22-Feb-2001	01-Dec-2005	1,677,672.00	1,500,000.00	1,573,860.00	422023	########
BOND	ONT	4.04	01-Dec-2003	01-Dec-2005	1,000,000.00	1,000,000.00	999,650.00	422023	########
BOND	ONT	3.04	24-Mar-2004	24-Mar-2006	4,998,000.00	5,000,000.00	4,960,950.00	422023	########
BOND	ONT	3.03	24-Mar-2004	24-Mar-2006	2,130,000.00	2,130,000.00	2,113,364.70	422023	########
BOND	ONT	5.60	21-Jun-2001	21-Jun-2006	500,000.00	500,000.00	624,110.00	422341	########
BOND	ONT	4.25	30-Sep-2002	21-Jun-2006	2,503,228.00	2,366,000.00	2,470,553.54	422341	########
BOND	ONT	3.45	23-Jun-2003	21-Jun-2006	500,000.00	500,000.00	499,835.00	422341	########
BOND	ONT	3.45	26-Jun-2003	21-Jun-2006	3,500,000.00	3,500,000.00	3,498,845.00	422023	########
BOND	ONT	4.00	17-Nov-2003	21-Jun-2006	3,196,800.00	3,000,000.00	3,744,660.00	422023	########
BOND	ONT	5.64	15-May-2001	24-Jul-2006	2,195,000.00	2,000,000.00	2,146,420.00	422023	########
BOND	ONT	5.95	28-May-2001	24-Jul-2006	2,707,500.00	2,500,000.00	2,683,025.00	422341	########
BOND	ONT	3.58	11-Feb-2004	21-Jun-2007	2,079,000.00	2,000,000.00	2,067,140.00	422023	########
BOND	ONT	4.57	17-Nov-2003	19-Nov-2008	497,295.00	500,000.00	513,900.00	422023	########
BOND	ONT	4.53	17-Nov-2003	19-Nov-2008	996,500.00	1,000,000.00	1,027,800.00	422023	########
BOND	ONT	4.19	03-May-2004	19-May-2009	2,980,260.00	3,000,000.00	3,031,830.00	422023	########
BOND	ONT	5.18	09-Aug-2004	08-Mar-2014	991,630.00	1,000,000.00	1,032,610.00	422023	########
BOND	RBC	3.53	04-Feb-2004	04-Feb-2005	2,000,000.00	2,000,000.00	1,977,920.00	422341	########
BOND	RBC	4.04	18-Aug-2004	18-Aug-2005	1,000,000.00	1,000,000.00	998,440.00	422023	########
BA	RBC	2.56	20-Oct-2004	14-Jan-2005	5,864,600.00	5,900,000.00	5,894,237.21
BDN	TD	2.55	25-Nov-2004	05-Jan-2005	9,971,400.00	10,000,000.00	9,996,512.20	TD	422341	########
BA	TD	2.56	29-Nov-2004	05-Jan-2005	7,979,280.00	8,000,000.00	7,997,200.00
BA	TD	2.52	17-Dec-2004	18-Jan-2005	11,973,600.00	12,000,000.00	11,985,150.00
BA	TD	2.52	17-Dec-2004	18-Jan-2005	5,986,800.00	6,000,000.00	5,992,575.00
BA	TD	2.51	30-Dec-2004	02-Feb-2005	11,972,040.00	12,000,000.00	11,972,862.35
BOND	TORONTO	4.59	25-Sep-2003	25-Sep-2009	499,100.00	500,000.00	511,850.00	422023	########
BOND	TORONTO	4.59	25-Sep-2003	25-Sep-2009	499,100.00	500,000.00	511,850.00	422023	########
BOND	TORONTO	4.80	25-Sep-2003	25-Sep-2010	499,900.00	500,000.00	515,975.00	422023	########
BOND	TORONTO	4.90	21-May-2004	21-May-2011	997,600.00	1,000,000.00	1,024,410.00	422023	########
BOND	WATERLOO	3.42	29-Nov-2004	29-Nov-2006	999,230.00	1,000,000.00	1,005,490.00	422023	########
BOND	YORK	3.32	28-Oct-2004	28-Oct-2006	999,140.00	1,000,000.00	1,003,750.00	422023	########
BOND	YORK	5.21	05-Jul-2004	05-Jul-2011	998,800.00	1,000,000.00	1,043,640.00	422023	########
BOND	YORK	5.36	05-Jul-2004	05-Jul-2012	997,700.00	1,000,000.00	1,046,130.00	422023	########
				Cost	269,568,295.00	267,497,524.18
						Market Value	271,080,720.86
			Less:Varley Trust		-    1,305,725.69
					268,262,569.31		269,774,995.17
				Less Ammort/Bank	-7,084,532.41
					261,178,036.90
1140060	92,155,550.42	ok
1140070	102,273,632.17	ok
1140075	65,292,160.00	ok		CANADA		22,224,040.06
1140061	918,400.95	ok		ONT		54,904,874.07
1140076	379,106.29	ok		MUNICIPAL		7,730,091.37
1600002	159,187.06			GOV'T BUSINESS ENTERPRISES		14,778,584.85
	261,178,036.90			PROVINCIAL AND BANKS		161,540,446.55
			1,364,547.41