Various organophosphonates were converted into the corresponding $\alpha$-hydroxyphosphonates in good yields with peroxymolybdenum complex or oxygen moleclue. The $\alpha$-hydroxyphosphonates gave the aldehydes or ketones by the treatment with 50\% agueous sodium hydroxide. Also, reactions of organophosphonate and organophosphine oxide carbanions with chlorodimethylborate gave the boronic esters, which gave $\alpha$-hydroxyphosphonates and $\alpha$-hydroxyphosphosphine oxides in good yields in the presence of m-chloroperbenzoic acid.