FORM 13F COVER PAGE
Report for the Quarter Ended: March 31, 2000
Check here if Amendment [ ]; Amendment Number:
This Amendment (check only one.): [ ] is a restatement.
[ ] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Argus Investors' Counsel Inc.
Address: 100 Prospect Street, South Tower
Stamford, CT 06901
13F File number:28-542
The Institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person signing
the report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists and tables, are
considered integral parts of this form.
Person signing this report on behalf of Reporting manager:
Name: Stewart P. Zobian
Title: President
Phone: 203-316-9000
Signature, Place, and Date of Signing
Stewart P. Zobian Stamford, CT May 3, 2000
Report Type (Check only one.):
[X] 13F Holdings Report.
[ ] 13F Notice.
[ ] 13F Combination Report.
List of other Managers Reporting for this Manager: NONE
I am signing this report as required by the Securities Exchange Act
of 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of other included Managers: 0
Form 13F information Table Entry Total:481
Form 13F Information Table Value Total:861,474,032
List of other Included managers:NONE
FORM 13F INFORMATION TABLE
<TABLE> <C> <C>
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
05/02/00 CA53G
4:21 BEGINNING OF COMPANY 53 REPORTS ACTY 2
ARGUS INVESTORS' COUNSEL
13F REPORT 00009558 SDUPRODN
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
1 2 3 4 5 6 7 8
1.23E+79
----^----^----^----^----^----^----^----^----^----^----^----^----^----^----^----^
53 2 1 1 1 1 1 1
----^----^----^----^----^----^----^----^----^----^----^----^----^----^----^----^
1.23E+79
1 2 3 4 5 6 7 8
FORM 13F 3/31/00
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 1
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
AT&T CORP COMMON 001957109 16905688 300212 300212 291712 900
ABBOTT LABS COMMON 002824100 5580738 158600 158600 147000
AIR PRODS & CHEMS INC COMMON 009158106 10749347 377999 377999 376999 1000
ALBERTSONS INC COMMON 013104104 14649107 474465 474465 474465
ALCOA INC COMMON 013817101 20601164 293255 293255 286455
AMERICA ONLINE INC DEL COMMON 02364J104 21943488 325390 325390 318590 400
AMERICAN EXPRESS CO COMMON 025816109 21306254 143055 143055 139355 500
AMERICAN INTL GROUP INC COMMON 026874107 21007357 191848 191848 187648 300
ARCHER DANIELS MIDLAND C COMMON 039483102 1804388 174971 174971 174971
ATLANTIC RICHFIELD CO COMMON 048825103 527000 6200 6200 6200
AUTOMATIC DATA PROCESSIN COMMON 053015103 16302469 337875 337875 337075 800
BP AMOCO P L C COMMON 055622104 3243671 60914 60914 60514 400
BECTON DICKINSON & CO COMMON 075887109 13953913 530315 530315 518915
CATERPILLAR INC DEL COMMON 149123101 15322455 388525 388525 378025 600
CHASE MANHATTAN CORP NEW COMMON 16161A108 15685031 179900 179900 175200
CISCO SYS INC COMMON 17275R102 22599990 292320 292320 285720 600
COCA COLA CO COMMON 191216100 4463756 95100 95100 87600
DEERE & CO COMMON 244199105 1395170 36715 36715 36715
DELTA AIR LINES INC DEL COMMON 247361108 19617034 368395 368395 360445 550
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 247658019 4736054 4736054 4643604 6050
FORM 13F 3/31/00
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 2
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
DISNEY WALT CO COMMON 254687106 21878588 530390 530390 517790 1400
DOW CHEM CO COMMON 260543103 18396750 161375 161375 157975
EASTMAN KODAK CO COMMON 277461109 15418776 283890 283890 276890 400
EL PASO ENERGY CORP DEL COMMON 283905107 18074071 447655 447655 437555 300
EMERSON ELEC CO COMMON 291011104 18587641 349885 349885 341885
EXXON MOBIL CORP COMMON 30231G102 12211793 156687 156687 151687
FEDERAL NATL MTG ASSN COMMON 313586109 17530416 309930 309930 302530 400
FEDEX CORP COMMON 31428X106 17478239 450325 450325 438725 500
FORD MTR CO DEL COMMON 345370100 12656930 275525 275525 267625
GTE CORP COMMON 362320103 2872305 40455 40455 40455
GANNETT INC COMMON 364730101 17942458 254955 254955 248455 1200
GENERAL ELEC CO COMMON 369604103 23593528 151605 151605 148405 100
GENERAL MTRS CORP COMMON 370442105 3112508 37585 37585 37185 400
GENUINE PARTS CO COMMON 372460105 1778067 74474 74474 74474
GILLETTE CO COMMON 375766102 18237923 483925 483925 470925 600
HEINZ H J CO COMMON 423074103 251274 7205 7205 7205
HEWLETT PACKARD CO COMMON 428236103 16334324 122930 122930 119130 1100
HOME DEPOT INC COMMON 437076102 22366665 346770 346770 340070
INGERSOLL-RAND CO COMMON 456866102 17793456 402112 402112 393812 300
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 276515711 4887678 4887678 4772778 6700
FORM 13F 3/31/00
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 3
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
INTEL CORP COMMON 458140100 21625876 163910 163910 160510 300
INTERNATIONAL BUSINESS M COMMON 459200101 18159020 153890 153890 150490
INTERNATIONAL FLAVORS&FR COMMON 459506101 1489630 42485 42485 42485
INTL PAPER CO COMMON 460146103 18671405 436758 436758 427605
KIMBERLY CLARK CORP COMMON 494368103 18816705 335638 335638 328338 400
MAY DEPT STORES CO COMMON 577778103 1855892 65119 65119 64669 450
MCDONALDS CORP COMMON 580135101 19063679 510065 510065 498265 600
MICROSOFT CORP COMMON 594918104 21785819 205043 205043 198843 2100
MINNESOTA MNG & MFG CO COMMON 604059105 13047028 147320 147320 146720 600
MORGAN J P & CO INC COMMON 616880100 3064505 23260 23260 22760 500
MORGAN STANLEY DEAN WITT COMMON 617446448 17540494 211650 211650 206550
MOTOROLA INC COMMON 620076109 17967490 123065 123065 120165
PPG INDS INC COMMON 693506107 16000040 305855 305855 298855
PEPSICO INC COMMON 713448108 13335503 382380 382380 381780 600
PFIZER INC COMMON 717081103 18769542 513355 513355 502755
PHELPS DODGE CORP COMMON 717265102 11161076 235590 235590 235590
PITNEY BOWES INC COMMON 724479100 7659438 171400 171400 171400
PROCTER & GAMBLE CO COMMON 742718109 1200625 21250 21250 21250
ROYAL DUTCH PETE CO COMMON 780257804 3590156 62100 62100 62100
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 244803921 4110133 4110133 4041130 5550
FORM 13F 3/31/00
REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 4
- ------------------------------------------------------------------------------------------------------------------------------------
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SHARED GERS
CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
- ------------------------------------------------------------------------------------------------------------------------------------
SCHLUMBERGER LTD COMMON 806857108 17914388 234175 234175 228875 300
STAPLES INC COMMON 855030102 15178000 758900 758900 741800 800
TEXAS UTILS CO COMMON 882848104 8184844 275700 275700 275700
UNILEVER N V COMMON 904784709 14683756 305117 305117 296417
UNION PAC CORP COMMON 907818108 2467027 63055 63055 63055
WAL MART STORES INC COMMON 931142103 21780468 385495 385495 374895 2500
WALGREEN CO COMMON 931422109 12287900 477200 477200 476800 400
--------- --------- --------- --------- --------- --------- --------- ---------
COLUMN TOTALS 92496381 2499642 2499642 2457542 4000
--------- --------- --------- --------- --------- --------- --------- ---------
REPORT TOTALS 861474032 16233507 16233507 15915054 22300
========= ========= ========= ========= ========= ========= ========= =========
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
05/02/00 CA53G
4:26 END OF COMPANY 53 REPORTS ACTY 2
ARGUS INVESTORS' COUNSEL
13F REPORT 00009558 SDUPRODN
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #
</TABLE>
