SquirrelMail giving 'THIS FOLDER IS EMPTY'

[phillydog]

I am using SquirrelMail 1.4.6 with PHP 5.0.5 on WIN/2003 using IIS6

All seems to load fine and I can send and receive mail, but I get the following:

"THIS FOLDER IS EMPTY"

Looking on the server, there are messages.
Looking at the left panel in SquirrelMail I see INBOX (47/47).
If I do a search in SquirrelMail in my Inbox, the messages do come up.

Any ideas what it could be?