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       Symbol   Security    Dividend    Price   Yield
       TX    Texaco             3.20   64.750  4.9421
       MO    Philip Morris      2.60   55.625  4.6742
       Z     Woolworth          1.16   25.375  4.5714
       XON   Exxon              2.88   63.125  4.5624
       CHV   Chevron            3.50   87.125  4.0172
       JPM   JP Morgan          2.72   69.375  3.9207
       DD    DuPont             1.76   48.250  3.6477
       EK    E Kodak            2.00   56.250  3.5556
       UK    Union Carbide       .75   22.375  3.3520
       MRK   Merck              1.12   34.375  3.2582
       AXP   American Expres    1.00   30.875  3.2389
       MMM   Minn M&M           3.32  108.750  3.0529
       S     Sears              1.60   52.875  3.0260
       UTX   United Technolo    1.80   62.000  2.9032
       WX    Westinghouse        .40   14.000  2.8571
       T     American T&T       1.32   52.375  2.5203
       IP    Int. Paper         1.68   67.750  2.4797
       GE    General Electri    2.52  104.875  2.4029
       BA    Boeing             1.00   43.250  2.3121
       AA    Alcoa              1.60   69.375  2.3063
       PG    Procter & Gambl    1.24   57.000  2.1754
       IBM   Int'l Bus. Mach    1.00   56.625  1.7660
       KO    Coca-Cola           .68   44.625  1.5238
       ALD   Allied-Signal      1.16   79.000  1.4684
       GM    General Motors      .80   54.875  1.4579
       GT    Goodyear            .60   45.750  1.3115
       MCD   McDonald's          .43   57.000   .7544
       CAT   Caterpillar         .60   89.000   .6742
       DIS   Disney              .25   42.625   .5865
       BS    Bethlehem Steel     .00   20.375   .0000
             December 31,1993       1,679.625
                                               2.6607