BEUTEL GOODMAN CAPITAL MANAGEMENT
13F-HR, 1999-11-05
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
QUARTER ENDING:SEPTEMBER 30, 1999
Institutional Investment Manager Filing this report:
Name:    BEUTEL, GOODMAN CAPITAL MANAGEMENT
Address: 5847 SAN FELIPE, SUITE 4500
         HOUSTON, TEXAS 77057

13F File Number:28-2951
The institutional investment manager filing this report and the
person by whom it is signed here by 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, list and tables, are considered
integral parts  of this form.

Person signing this report on behalf of Reporting Manager:
Name:     Richard J. Andrews
Title:    President
Phone:    713-260-1200
Signature, Place, and Date of signing:
Richard J. Andrews,  Houston, Texas    October 15, 1999
Report Type (check only one.):

[ X]   13F HOLDINGS REPORT.
[  ]   13F NOTICE.
[  ]   13F COMBINATION REPORT.

List of other Managers Reporting for this Manager:

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>
                             FORM 13F SUMMARY PAGE


REPORT SUMMARY:

NUMBER OF OTHER INCLUDED MANAGERS:        0

FORM 13F INFORMATION TABLE ENTRY TOTAL:   142

FORM 13F INFORMATION TABLE VALUE TOTAL:   $859,186,000

<TABLE>                        <C>                          <C>
                               FORM 13F INFORMATION TABLE
- ----------------------------------------------------------------------------------------------------------------
NAME OF ISSUER                 TITLE OF CLASS   CUSIP     (x$1000)  PRN AMT PRN DSCRETN SHARES
ACX TECHNOLOGIES INC           COM              005123104      610    64262 SH  SOLE    64262
AIR PRODS & CHEMS INC          COM              009158106      250     8556 SH  SOLE    8556
ALBERTSONS INC                 COM              013104104      638    16126 SH  SOLE    16126
ALCOA INC COM                  COM              013817101      594     9575 SH  SOLE    9575
ALFA CORP COM                  COM              015385107      609    37495 SH  SOLE    37495
ALLSTATE CORP                  COM              020002101    18251   731885 SH  SOLE    731885
AMERICAN GENERAL CORP          COM              026351106      777    12283 SH  SOLE    12283
AMERICAN HOMESTAR CORP COM     COM              026651109      276    71249 SH  SOLE    71249
AMERICAN PWR CONVERSION CORP   COM              029066107    32340  1702122 SH  SOLE    702122
AMERISOURCE HEALTH CORP CL A   COM              03071P102      289    12190 SH  SOLE    12190
AMERITECH CORP NEW COM         COM              030954101    19866   297621 SH  SOLE    297621
APACHE CORP                    COM              037411105      261     6050 SH  SOLE    6050
APARTMENT INVT & MGMT CO CL A  COM              03748R101      552    14440 SH  SOLE    40
AT&T CORPORATION               COM              001957109      765    17577 SH  SOLE    17577
AVIATION SALES CO COM          COM              053672101      411    21650 SH  SOLE    21650
BANK OF AMERICA                COM              060505104      204     3670 SH  SOLE    3670
BAXTER INTL INC COM            COM              071813109    29148   483786 SH  SOLE    83786
BELLWETHER EXPL CO COM NEW     COM              079895207      814   130270 SH  SOLE    130270
BLACK BOX CORP COM             COM              091826107      470     8958 SH  SOLE    958
BLOCK H & R INC COM            COM              093671105      212     4880 SH  SOLE    4880
BOWATER INC COM                COM              102183100    16962   323091 SH  SOLE    323091
BRISTOL MYERS SQUIBB CO        COM              110122108      297     4400 SH  SOLE    4400
BURLINGTON NORTHN SANTA FE COM COM              12189T104      266     9665 SH  SOLE    9665
BURLINGTON RESOURCES INC COM   COM              122014103    26974   733982 SH  SOLE    733982
CARRIAGE SVCS INC CL A         COM              143905107      498    59080 SH  SOLE    59080
CATO CORP NEW CL A             COM              149205106      822    58350 SH  SOLE    58350
CHAMPION INTERNATIONAL CORP    COM              158525105    19429   378185 SH  SOLE    378185
CHITTENDEN CORP COM            COM              170228100      749    26269 SH  SOLE    26269
CITIGROUP INC.                 COM              172967101      977    22204 SH  SOLE    22204
CITY NATL CORP COM             COM              178566105     1029    30653 SH  SOLE    30653
CK WITCO CORP.                 COM              12562C108      811    54505 SH  SOLE    54505
CNF TRANSN INC COM             COM              12612W104      222     5950 SH  SOLE    5950
COLUMBIA/HCA HEALTHCARE CORP O COM              197677107     9802   462638 SH  SOLE    462638
COOPER CAMERON CORP COM        COM              216640102    21928   580870 SH  SOLE    870
COVENANT TRANS INC CL A        COM              22284P105      860    56397 SH  SOLE    56397
CULLEN FROST BANKERS INC COM   COM              229899109      268    10700 SH  SOLE    10700
DALLAS SEMICONDUCTOR CORP COM  COM              235204104      822    15375 SH  SOLE    15375
DANA CORP COM                  COM              235811106    18719   504225 SH  SOLE    504225
DEAN FOODS CO COM              COM              242361103      274     6300 SH  SOLE    6300
DELCO REMY INTL INC            COM              246626105      462    51355 SH  SOLE    51355
DONNELLEY R R & SONS CO        COM              257867101    14655   507545 SH  SOLE    507545
DU PONT E I DE NEMOURS CO      COM              263534109      714    11806 SH  SOLE    11806
DUKE ENERGY CO COM             COM              264399106    17429   316171 SH  SOLE    316171
EASTMAN KODAK                  COM              277461109      333     4405 SH  SOLE    405
EDISON INTL COM                COM              281020107    14718   605373 SH  SOLE    65373
EL PASO ENERGY CORP DEL        COM              283905107    32385   804598 SH  SOLE    4598
ELECTRONIC DATA SYSTEMS        COM              285661104    19213   362934 SH  SOLE    362934
ENGELHARD CORP                 COM              292845104      220    12050 SH  SOLE    12050
ESTERLINE TECHNOLOGIES CORP CO COM              297425100      625    39653 SH  SOLE    39653
ETEC SYS INC COM               COM              26922C103      442    11735 SH  SOLE    11735
EXCEL LEGACY CORP COM          COM              300665106      138    32955 SH  SOLE    3955
EXXON CORP                     COM              302290101      420     5530 SH  SOLE    530
FEDERAL MOGUL CORP COM         COM              313549107     2163    78480 SH  SOLE    8480
FEDERATED DEPARTMENT STORES NE COM              31410H101    24861   569068 SH  SOLE    69068
FINL SEC ASSURN HLDGS LTD COM  COM              31769P100     1186    22955 SH  SOLE    2955
FIRST DATA CORP COM            COM              319963104    30599   697414 SH  SOLE    697414
FIRST SIERRA FINL INC COM      COM              335944104      395    36978 SH  SOLE    3978
FIRST UNION CORP               COM              337358105    24229   680100 SH  SOLE    680100
FORD MOTOR                     COM              345370100      555    11045 SH  SOLE    145
FRANCO NEV MNG LTD             COM              351860101      300    13894 SH  SOLE    13894
GATX CORP COM                  COM              361448103     1124    36175 SH  SOLE    36175
GLOBAL INDS LTD COM            COM              379336100      282    34743 SH  SOLE    34743
GOODRICH B F CO COM            COM              382388106    18158   626122 SH  SOLE    626122
GREAT LAKES CHEMICAL CORPORATI COM              390568103      470    12360 SH  SOLE    12360
GTE CORP                       COM              362320103    40297   524186 SH  SOLE    524186
HALLIBURTON COMPANY            COM              406216101     1166    28430 SH  SOLE    28430
HARLEYSVILLE GROUP INC COM     COM              412824104      399    28360 SH  SOLE    28360
HARTFORD FINANCIAL SERVICES    COM              416515104      510    12470 SH  SOLE    12470
HERCULES INC COM               COM              427056106    24778   865596 SH  SOLE    865596
HONEYWELL INC                  COM              438506107      387     3480 SH  SOLE    3480
HOUSEHOLD INTL CORP            COM              441815107    27217   678296 SH  SOLE    678296
I B M                          COM              459200101      696     5750 SH  SOLE    5750
INGERSOLL-RAND COMPANY         COM              456866102    22598   411340 SH  SOLE    411340
INTEL CORP                     COM              458140100    20455   275250 SH  SOLE    275250
INTERNATIONAL PAPER CO         COM              460146103      283     5880 SH  SOLE    5880
INTERWEST BANCORP INC COM      COM              460931108      521    25118 SH  SOLE    25118
JONES APPAREL GROUP INC        COM              480074103      305    10610 SH  SOLE    10610
KELLWOOD CO COM                COM              488044108      503    22880 SH  SOLE    2880
KENNAMETAL INC                 COM              489170100      945    36520 SH  SOLE    36520
LOCKHEED MARTIN CORP           COM              539830109      473    14467 SH  SOLE    14467
M S CARRIERS INC COM           COM              553533100      624    26010 SH  SOLE    26010
MAIL-WELL INC COM              COM              560321200     1196    86203 SH  SOLE    86203
MALLINCKRODT INC NEW COM       COM              561232109      232     7700 SH  SOLE    7700
MARSH MCLENNAN                 COM              571748102    22859   333702 SH  SOLE    33702
MBIA INC                       COM              55262C100    22648   485751 SH  SOLE    485751
MEDICAL CARE INT COL CONV 7.00 CONVERTIBLE BOND 584505AB7       33    40000 PRN SOLE    40000
MELLON BANK CORP               COM              585509102     1167    34720 SH  SOLE    34720
MGIC INVT CORP WIS             COM              552848103      267     5590 SH  SOLE    590
MICHAEL FOODS INC NEW COM      COM              594079105      906    34490 SH  SOLE    34490
NATIONAL FUEL GAS CO N J COM   COM              636180101      810    17165 SH  SOLE    7165
NATIONAL SVC INDS INC          COM              637657107      501    15915 SH  SOLE    15915
NEW PLAN EXCEL REALTY TRUST, I COM              648053106     1006    56485 SH  SOLE    56485
NEWBRIDGE NETWORKS CORP COM    COM              650901101    20504   786730 SH  SOLE    786730
NEWELL RUBBERMAID INC.         COM              651229106     1160    40630 SH  SOLE    40630
NORTHWESTERN CORP COM          COM              668074107      608    26733 SH  SOLE    26733
NUCOR CORP                     COM              670346105      246     5170 SH  SOLE    5170
OCEAN ENERGY INC.              COM              67481E106      576    56540 SH  SOLE    56540
PACKAGED ICE INC COM           COM              695148106      467   138445 SH  SOLE    138445
PALL CORP                      COM              696429307    26928  1161334 SH  SOLE    161334
PARKER HANNIFIN CORP           COM              701094104      205     4580 SH  SOLE    4580
PHILIP MORRIS COS INS          COM              718154107      306     8955 SH  SOLE    8955
PHILLIPS PETROLEUM COMPANY     COM              718507106     2382    48855 SH  SOLE    48855
POPE & TALBOT INC COM          COM              732827100      844    68165 SH  SOLE    68165
PROFESSIONALLY MANAGED PTFLSLI MUTUAL FUNDS     742935794      129    12810 SH  SOLE    12810
QLT PHOTOTHERAPEUTICS INC COM  COM              746927102     1373    35920 SH  SOLE    35920
QUANEX CORP COM                COM              747620102     1112    43388 SH  SOLE    43388
QUANTUM CORP 7.00% OF 08/01/04 CONVERTIBLE BOND 747906AC9      541   615000 PRN SOLE    615000
R & B FALCON CORP COM          COM              74912E101      134    10220 SH  SOLE    10220
RITCHIE BROTHERS AUCTIONEERS   COM              767744105      509    13405 SH  SOLE    13405
ROYAL DUTCH PETRO-NY SHARES    COM              780257804    22151   375047 SH  SOLE    375047
SARA LEE CORP COM              COM              803111103      240    10265 SH  SOLE    10265
SBC COMMUNICATIONS, INC COMMON COM              78387G103      662    12961 SH  SOLE    12961
SCHLUMBERGER                   COM              806857108      254     4070 SH  SOLE    4070
SHARED MED SYS CORP COM        COM              819486101      357     7640 SH  SOLE    7640
SHAW INDS INC COM              COM              820286102      204    12850 SH  SOLE    12850
SIERRA PAC RES NEW COM         COM              826428104      872    39172 SH  SOLE    39172
SKYWEST INC COM                COM              830879102      787    35883 SH  SOLE    683
SLM HLDG CORP COM              COM              78442A109    22176   515723 SH  SOLE    515723
SOUTHERN CO                    COM              842587107     1688    65550 SH  SOLE    50
SOUTHTRUST CORP                COM              844730101      258     7200 SH  SOLE    7200
SPECTRAL DIAGNOSTICS INC COM   COM              847574100       29    25700 SH  SOLE    25700
ST JUDE MEDICAL CENTER INC     COM              790849103      247     7850 SH  SOLE    7850
ST PAUL COS INC                COM              792860108      516    18780 SH  SOLE    18780
STERLING BANCSHARES INC COM    COM              858907108      479    41878 SH  SOLE    41878
STOLT COMEX SEAWAY S A ADR SPO COM              861567105      183    16815 SH  SOLE    16815
SUPERVALU INC COM              COM              868536103      267    12100 SH  SOLE    12100
SYSCO CORPORATION              COM              871829107    28315   807553 SH  SOLE    807553
TELEFLEX INC COM               COM              879369106     1054    26735 SH  SOLE    26735
TENET HEALTH CARE              COM              88033G100      826    47050 SH  SOLE    47050
TEXAS INSTRUMENTS INC          COM              882508104      753     9150 SH  SOLE    9150
THE CHASE MANHATTEN CORPORATIO COM              16161A108     1125    14931 SH  SOLE    14931
TIMES MIRROR CO NEW COM A      COM              887364107      563     8550 SH  SOLE    8550
UNIGRAPHICS SOLUTIONS INC CL A COM              904928108      832    30660 SH  SOLE    30660
WAL MART STORES INC            COM              931142103      298     6260 SH  SOLE    6260
WARNACO GROUP INC CL A         COM              934390105    19138  1048678 SH  SOLE    1048678
WASHINGTON MUT INC COM         COM              939322103    15217   520253 SH  SOLE    520253
WASTE MANAGEMENT INC           COM              94106L109    20198  1049263 SH  SOLE    1049263
WEATHERFORD INTERNATIONAL      COM              947074100      421    13160 SH  SOLE    13160
WEBSTER FINL CORP WATERBURY CO COM              947890109      693    27157 SH  SOLE    27157
WELLS FARGO NEW                COM              949746101      684    17260 SH  SOLE    17260
WHIRLPOOL CORP                 COM              963320106    29835   456797 SH  SOLE    456797
WILLIAMS CO                    COM              969457100      936    24885 SH  SOLE    24885

   LINE COUNT: 142
                              B.T. ALEX BROWN
                              DISCRETIONARY 13F

NAME                            TITLE
OF                              OF       CUSIP
ISSUER                          CLASS    NUMBER
- ------------------------------- ------   ---------- -------------- ------------ -- ----- ----- -- --------- --------- ---------
ALLSTATE CORP                   COMMON   020002101         28,179        1,130    X                      1,130         0         0
AMERICAN PWR CONVERSION CORP    COMMON   029066107         55,100        2,900    X                      2,900         0         0
AMERITECH CORP NEW              COMMON   030954101         30,038          450    X                        450         0         0
ALSTATE CORP                    COMMON   020002101         28,179        1,130    X                      1,130        0         0
AMERICAN PWR CONVERSION CORP    COMMON   029066107         55,100        2,900    X                      2,900         0         0
AMERITECH CORP NEW              COMMON   030954101         30,038          450    X                        450         0         0
BAXTER INTL INC COM             COMMON   071813109         43,982          730    X                        730         0         0
BOWATER INC COM                 COMMON   102183100         26,775          510    X                        510         0         0
BURLINGTON RESOURCES INC        COMMON   122014103         41,160        1,120    X                      1,120         0         0
CHAMPION INTERNATIONAL CORP     COMMON   158525105         31,339          610    X                        610         0         0
COLUMBIA/HCA                    COMMON   197677107          3,178          150    X                        150         0         0
COOPER CAMERON CORP             COMMON   216640102         38,505        1,020    X                      1,020         0         0
DANA CORP COM                   COMMON   235811106         30,442          820    X                        820         0         0
DONNELLEY R R & SONS CO         COMMON   257867101         24,544          850    X                        850         0         0
DUKE PWR CO                     COMMON   264399106         23,704          430    X                        430         0         0
EDISON INTERNATIONAL            COMMON   281020107         26,257        1,080    X                      1,080         0         0
EL PASO ENERGY CORP DEL COM     COMMON   283905107         52,325        1,300    X                      1,300         0         0
ELECTRONIC DATA SYS             COMMON   285661104         26,998          510    X                        510         0         0
FEDERATED DEPARTMENT STORES NE  COMMON   31410H101         41,066          940    X                        940         0         0
FIRST DATA CORP                 COMMON   319963104         60,109        1,370    X                      1,370         0         0
FIRST UNION CORP                COMMON   337358105         33,131          930    X                        930         0         0
GTE CORP                        COMMON   362320103         63,422          825    X                        825         0         0
GOODRICH B F CO COM             COMMON   382388106         29,290        1,010    X                      1,010         0         0
HERCULES INC COM                COMMON   427056106         39,503        1,380    X                      1,380         0         0
HOUSEHOLD INTL INC COM          COMMON   441815107         44,138        1,100    X                      1,100         0         0
INGERSOLL RAND CO COM           COMMON   456866102         43,401          790    X                        790         0         0
INTEL CORP                      COMMON   458140100         26,753          360    X                        360         0         0
MBIA INC                        COMMON   55262C100         35,901          770    X                        770         0         0
MARSH & MCLENNAN COS            COMMON   571748102         43,498          635    X                        635         0         0
NEWBRIDGE NETWORKS CORP         COMMON   650901101         36,488        1,400    X                      1,400         0         0
PALL CORP COM                   COMMON   696429307         40,114        1,730    X                      1,730         0         0
ROYAL DUTCH PETRO-NY SHARES     COMMON   780257804         36,619          620    X                        620         0         0
SLM HLDG CORP COM               COMMON   78442A109         35,690          830    X                        830         0         0
SYSCO CORPORATION               COMMON   871829107         48,386        1,380    X                      1,380         0         0
WARNACO GROUP INC               COMMON   934390105         31,025        1,700    X                      1,700         0         0
WASHINGTON MUT INC COM          COMMON   939322103         26,032          890    X                        890         0         0
WASTE MANAGEMENT INC            COMMON   94106L109         27,720        1,440    X                      1,440         0         0
WHIRLPOOL CORP                  COMMON   963320106         46,372          710    X                        710         0         0

     TOTAL                                              1,271,183


                       DAIN RAUSCHER INCORPORATED
                       DISCRETIONARY 13F

NAME                  TITLE
OF                     OF                        FAIR
ISSUER                 CLASS      CUSIP          MARKET       SHARES       SHARED
- ------------------   ---------  -----------     ---------     --------     --------   ----   --------    ---
ALLSTATE CORP          COMMON   020002101        505,244       20,260          X      0       20,260      0
AMERICAN PWR CONVERSI  COMMON   029066107        781,280       41,120          X      0       41,120      0
AMERITECH CORP NEW CO  COMMON   030954101        481,935        7,220          X      0       7,220       0
BAXTER INTL INC COM    COMMON   071813109        787,468       13,070          X      0       1,070       0
BOWATER INC            COMMON   102183100        462,525        8,810          X      0       8,810       0
BURLINGTON RESOURCES   COMMON   122014103        710,047       19,321          X      0       19,321      0
CHAMPION INTL CORP     COMMON   158525105        537,896       10,470          X      0       10,470      0
COLUMBIA / HCA HEALTH  COMMON   197677107        280,635       13,245          X      0       13,245      0
COOPER CAMERON CORP    COMMON   216640102        633,068       16,770          X      0       16,770      0
DANA CORP              COMMON   235811106        525,690       14,160          X      0       14,160      0
DONNELLEY R R & SONS   COMMON   257867101        383,171       13,270          X      0       13,270      0
DUKE PWR CO            COMMON   264399106        429,975        7,800          X      0        7,800      0
EDISON INTL            COMMON   281020107        360,319       14,820          X      0       14,820      0
EL PASO ENERGY CORP    COMMON   283905107        855,312       21,250          X      0       21,250      0
ELECTRONIC DATA SYS C  COMMON   285661104        445,738        8,420          X      0        8,420      0
FEDERATED DEPT STORES  COMMON   31410H101        686,775       15,720          X      0       15,720      0
FIRST DATA CORP COM    COMMON   319963104        864,338       19,700          X      0       19,700      0
FIRST UNION CORP       COMMON   337358105        601,706       16,890          X      0       16,890      0
GOODRICH B F CO        COMMON   382388106        510,400       17,600          X      0       17,600      0
GTE CORP               COMMON   362320103      1,085,475       14,120          X      0       14,120      0
HERCULES INC           COMMON   427056106        643,776       22,490          X      0       22,490      0
HOUSEHOLD INTL CORP    COMMON   441815107        664,470       16,560          X      0       16,560      0
INGERSOLL-RAND COMPAN  COMMON   456866102        640,028       11,650          X      0       11,650      0
INTEL CORP             COMMON   458140100        453,607        6,104          X      0        6,104      0
MARSH MCLENNAN         COMMON   571748102        639,721        9,339          X      0        9,339      0
MBIA INC               COMMON   55262C100        552,133       11,842          X      0       11,842      0
NEWBRIDGE NETWORKS CO  COMMON   650901101        615,608       23,620          X      0       23,620      0
PALL CORP              COMMON   696429307        698,886       30,140          X      0       30,140      0
ROYAL DUTCH PETRO-NY   COMMON   780257804        641,424       10,860          X      0       10,860      0
SLM HLDG CORP COM      COMMON   78442A109        589,960       13,720          X      0       13,720      0
SYSCO CORP             COMMON   871829107        784,359       22,370          X      0       22,370      0
WARNACO GROUP INC CL   COMMON   934390105        531,257       29,110          X      0       29,110      0
WASHINGTON MUT INC     COMMON   939322103        435,825       14,900          X      0       14,900      0
WASTE MANAGEMENT INC   COMMON   94106L109        507,815       26,380          X      0       26,380      0

TOTAL                                    21,104,439

                              EVEREN SECURITIES
                              DISCRETIONARY 13F
NAME OF                TITLE
 ISSUER                of        CUSIP
                       CLASS     NUMBER          MARKET     PRINCIPAL   SOLE SHARED
- -------------------   --------  -----------     ---------   -----------  --- ------     ----------     -------
AMERITECH CORP NEW CO  COMMON   030954101        490,345        7,346    X     X           5,786        1,560
BAXTER INTL INC COM    COMMON   071813109        683,235       11,340    X     X           8,630        2,710
BOWATER INC            COMMON   102183100        437,850        8,340    X     X           6,490        1,850
BURLINGTON RESOURCES   COMMON   122014103        641,728       17,462    X     X          13,588        3,874
CHAMPION INTERNATIONA  COMMON   158525105        486,007        9,460    X     X           7,280        2,180
COOPER CAMERON CORP    COMMON   216640102        584,748       15,490    X     X          11,940        3,550
DANA CORP              COMMON   235811106        446,243       12,020    X     X           9,180        2,840
DONNELLEY R R & SONS   COMMON   257867101        343,901       11,910    X     X           9,040        2,870
DUKE PWR CO            COMMON   264399106        348,169        6,316    X     X           4,797        1,519
EDISON INTERNATIONAL   COMMON   281020107        373,926       15,380    X     X          11,810        3,570
EL PASO ENERGY CORP D  COMMON   283905107        791,315       19,660    X     X          15,350        4,310
ELECTRONIC DATA SYSTE  COMMON   285661104        380,885        7,195    X     X           5,480        1,715
FEDERATED DEPARTMENT   COMMON   31410H101        624,294       14,290    X     X           11,020        3,270
FIRST DATA CORP COM    COMMON   319963104        719,111       16,390    X     X           12,750        3,640
FIRST UNION CORP       COMMON   337358105        552,187       15,500    X     X           11,840        3,660
GOODRICH B F CO        COMMON   382388106        480,530       16,570    X     X           22,940        3,630
GTE CORP               COMMON   362320103        936,722       12,185    X     X            9,230        2,955
HERCULES INC           COMMON   427056106        569,351       19,890    X     X           15,200        4,690
HOUSEHOLD INTL CORP    COMMON   441815107        519,218       12,940    X     X            9,820        3,120
INGERSOLL-RAND COMPAN  COMMON   456866102        507,073        9,230    X     X            7,190        2,040
INTEL CORP             COMMON   458140100        390,958        5,261    X     X            4,035        1,226
MARSH MCLENNAN         COMMON   571748102        520,943        7,605    X     X            5,821        1,784
MBIA INC               COMMON   55262C100        479,398       10,282    X     X            7,842        2,440
NEWBRIDGE NETWORKS CO  COMMON   650901101        567,381       21,770    X     X            16,880        4,890
PALL CORP              COMMON   696429307        605,217       26,101    X     X            20,231        5,870
ROYAL DUTCH PETRO-NY   COMMON   780257804        550,758        9,325    X     X             7,190        2,135
SLM HLDG CORP COM      COMMON   78442A109        509,120       11,840    X     X             9,020        2,820
SYSCO CORPORATION      COMMON   871829107        732,140       20,881    X     X            16,620        4,261
WARNACO GROUP INC CL   COMMON   934390105        442,380       24,240    X     X            18,250        5,990
WASHINGTON MUT INC     COMMON   939322103        372,937       12,750    X     X             9,720        3,030
WASTE MANAGEMENT INC   COMMON   94106L109        408,678       21,230    X     X            16,260        4,970
WHIRLPOOL CORP         COMMON   963320106        720,397       11,030    X     X             8,570        2,460

     TOTAL                                    18,361,505


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