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       Symbol   Security    Dividend    Price   Yield
       MO    Philip Morris      2.60   45.875  5.6676
       TX    Texaco             3.20   67.750  4.7232
       Z     Woolworth          1.16   25.000  4.6400
       XON   Exxon              2.88   65.500  4.3969
       UK    Union Carbide       .75   19.375  3.8710
       DD    DuPont             1.76   46.500  3.7849
       MRK   Merck              1.12   30.750  3.6423
       CHV   Chevron            3.50   97.750  3.5806
       EK    E Kodak            2.00   59.375  3.3684
       UTX   United Technolo    1.80   55.500  3.2432
       MMM   Minn M&M           3.32  102.875  3.2272
       WX    Westinghouse        .40   13.000  3.0769
       JPM   JP Morgan          2.40   78.375  3.0622
       S     Sears              1.60   53.875  2.9698
       IP    Int. Paper         1.68   60.250  2.7884
       AXP   American Expres    1.00   35.875  2.7875
       GE    General Electri    2.52   95.875  2.6284
       PG    Procter & Gambl    1.24   47.500  2.6105
       BA    Boeing             1.00   38.375  2.6059
       AA    Alcoa              1.60   67.125  2.3836
       IBM   Int'l Bus. Mach    1.00   42.000  2.3810
       T     American T&T       1.32   58.875  2.2420
       GM    General Motors      .80   41.750  1.9162
       KO    Coca-Cola           .68   42.250  1.6095
       ALD   Allied-Signal      1.16   72.875  1.5918
       GT    Goodyear            .60   43.625  1.3754
       MCD   McDonald's          .43   51.875   .8289
       CAT   Caterpillar         .60   79.000   .7595
       DIS   Disney              .25   37.750   .6623
       BS    Bethlehem Steel     .00   14.375   .0000
             September 30,1993      1,590.875
                                               2.7890