Never mind!  I shut the program down and restarted now it seems to be fine.  Thank you for your help.

Last night on shutdown I noticed my folders disappeared.  On start up today the folder tabs appear on the bottom of the window but the folders themselves are not visible no matter what action I take.  I can download new mail but there is no way to read it.

Try going to the Window pull-down menu and selecting either Tile or Cascade.  This will bring any open folder windows onto the Pegasus Mail desktop where you can then resize & rearrange them (they probably ended up offscreen).

Thanks for the suggestion.  Now I got the new mail folder open, it shows 440 messages in the title bar but the window is blank.  I then opened the Address Book and it is also blank but the Distribution List tab shows entries.  Very weird.