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Previous: INTERACTIVE ENTERTAINMENT LTD, NT 10-Q/A, 1998-11-17 |
Next: INTERMEDIA COMMUNICATIONS INC, 424B3, 1998-11-17 |
<TABLE>
<C> <C>
<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 9/30/98
Institutional Investment Manager:
SALEM INVESTMENT COUNSELORS INC.
480 SHEPHARD STREET SUITE 200
WINSTON SALEM NC 27103
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS
PURSUANT TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934
AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended 9/30/98
Salem Investment Counselors, Inc.
- ---------------------------------
Name of Institutional Investment Manager
480 Shepherd Street, Suite 200, Winston-Salem, NC 27103
- ---------------------------------------------------------
Business Address
Dale M. Brown, Vice President (336) 768-7230
- -------------------------------------------
Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represent hereby that all information
contained therein is true, correct and complete. It is understood that all
required items, statements and schedules are considered integral parts of this
Form and that the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete as previously
submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of Winston-Salem and State of North Carolina on the
10th day of November, 1998.
Salem Investment Counselors, Inc.
By: /s/ Dale M. Brown
Dale M. Brown
<PAGE> PAGE 2
Vice President
1
<PAGE>
FORM 13F
(SEC USE ONLY)
Name, Title and Telephone Number of Person Submitting Report:
DALE M. BROWN VICE PRESIDENT 336-768-7230
Signature, Place and Date of Signing:
/s/ DALE M. BROWN WINSTON SALEM NC 11/10/98
<PAGE> PAGE 3
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
AT & T Corp. COM 001957109 426 7286 SH SOLE 7286
Abbott Labs COM 002824100 558 12856 SH SOLE 12856
Acadiana Bancshares, Inc. COM 004280103 283 16670 SH SOLE 16670
Acorn International Fund COM 004851200 2007 109994 SH SOLE 109954
Adams Golf Inc. COM 006228100 41 10000 SH SOLE 10000
Allmerica Financial Corp COM 019754100 275 4617 SH SOLE 4617
American General Corp COM 026351106 246 3851 SH SOLE 3851
American Home Products COM 026609107 1060 20137 SH SOLE 20137
Ameritech COM 030954101 314 6608 SH SOLE 6608
Amoco Corporation COM 031905102 733 13600 SH SOLE 13600
Analysts Int'l Corp COM 032681108 653 21750 SH SOLE 21750
Anchor Financial Corp SC COM 033036104 612 17250 SH SOLE 17250
Archer Daniels Midland COM 039483102 170 10157 SH SOLE 10157
Asia Tigers Fund, Inc. COM 04516T105 637 125915 SH SOLE 125915
Automatic Data Process COM 053015103 494 6220 SH SOLE 6220
BB&T Corporation COM 054937107 1570 52430 SH SOLE 52430
Bank of Granite COM 062401104 250 8668 SH SOLE 8668
BankAtlantic Bancorp COM 065908501 256 34750 SH SOLE 34750
Bankunited Fin Corp CL A COM 065412108 198 18000 SH SOLE 18000
Basin Exploration Inc. COM 070107107 1151 69500 SH SOLE 69500
Bay View Capital Corp COM 07262L101 183 10000 SH SOLE 10000
Bayard Drilling Tech COM 072700107 222 48000 SH SOLE 48000
Bell Atlantic Corp. COM 077853109 397 8200 SH SOLE 8200
Bellsouth Corp. COM 079860102 556 7389 SH SOLE 7389
Berkshire Hathaway CL A COM 084670108 596 10 SH SOLE 10
Blackrock 2001 Term Trt COM 092477108 270 29950 SH SOLE 29950
Blackrock Target Term Trt COM 092476100 308 31950 SH SOLE 31950
Boddie-Noell Rest Ppty COM 096903109 2249 191436 SH SOLE 191436
Bristol Myers Squibb COM 110122108 484 4656 SH SOLE 4656
Broadway Financial Corp COM 111444105 189 21600 SH SOLE 21600
Building One Services Co COM 120114103 248 20000 SH SOLE 20000
CCB Financial Corp COM 124875105 2805 27839 SH SOLE 27839
CNS Inc. COM 126136100 51 13350 SH SOLE 13350
CT Communication CL B COM 126426204 258 1980 SH SOLE 1980
Callon Petroleum Co Del COM 13123X102 194 15226 SH SOLE 15226
Capital Bank-Raleigh, NC COM 139808109 638 50000 SH SOLE 50000
Cardiovascular Diagnostic COM 14060E106 1157 231443 SH SOLE 231443
Carolina Fincorp, Inc. COM 143874105 367 41600 SH SOLE 41600
Cenit Bancorp COM 15131W109 287 14100 SH SOLE 14100
Century Bancorp COM 156433104 930 68600 SH SOLE 68600
Century Bancshares COM 156436107 1600 188214 SH SOLE 188214
Chastain Cap Corp REITS COM 161697107 269 25000 SH SOLE 25000
Chevron Corporation COM 166751107 538 6402 SH SOLE 6402
Cincinnati Financial Corp COM 172062AB7 744 24192 SH SOLE 24192
Cisco Systems COM 17275R102 1126 18217 SH SOLE 18217
Clarion Coml Hldgs Cl A COM 18051W109 289 25000 SH SOLE 25000
Coca-Cola Corporation COM 191216100 9861 171132 SH SOLE 171132
Coddle Creek Financial COM 191891100 3632 62625 SH SOLE 62625
Community Bancshares COM 203433107 1100 80730 SH SOLE 80730
Compaq Computer COM 204493100 297 9400 SH SOLE 9400
<PAGE> PAGE 4
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
Consolidated Products COM 209798107 65 10800 SH SOLE 10800
Cooperative Bancshares COM 216844100 1057 79808 SH SOLE 79808
Cree Research Inc COM 225447101 363 23450 SH SOLE 23450
Cypress Semiconductor COM 232806109 126 14400 SH SOLE 14400
DLJ High Yield Bond Fund COM 23322Y108 585 64500 SH SOLE 64500
Dallas Semiconductor COM 235204104 264 9780 SH SOLE 9780
Dime Bancorp, Inc. COM 25429Q102 253 10000 SH SOLE 10000
Disney, Walt Company COM 254687106 650 25607 SH SOLE 25607
Duke Energy Company COM 264399106 1322 19978 SH SOLE 19978
Dupont de nemours COM 263534109 203 3604 SH SOLE 3604
EMC Corp. Mass COM 268648102 248 4000 SH SOLE 4000
Eaton Corp COM 283695872 202 3224 SH SOLE 3224
Emerson Electric COM 291011104 259 4166 SH SOLE 4166
Engel General Developers COM M40515104 188 47000 SH SOLE 47000
Excel Realty Pfd 8.625% PREFERRED 30067R404 488 20000 SH SOLE 20000
Exxon Corporation COM 302290101 1598 22631 SH SOLE 22631
First American Corp, TN COM 318900107 1251 32610 SH SOLE 32610
First Regional Bancorp COM 33615C101 706 81900 SH SOLE 81900
First Union Corporation COM 337358105 3999 78118 SH SOLE 78118
First Fed Financial Corp COM 337907109 6460 378593 SH SOLE 378593
FirstSpartan Fin'l Corp COM 337931109 4382 146069 SH SOLE 146069
Fred Meyer Inc COM 592907109 544 14000 SH SOLE 14000
Friede Goldman Int'l Inc COM 358430106 268 17000 SH SOLE 17000
Gaston Federal Bancorp COM 367304102 127 11500 SH SOLE 11500
General Electric COM 369604108 3594 45176 SH SOLE 45176
Georgia Pwr Cap Trust PREFERRED 373332204 202 8000 SH SOLE 8000
Gillette Co COM 375766102 243 6342 SH SOLE 6342
Golden St Bancorp Inc COM 381197102 199 10000 SH SOLE 10000
Guidant Corporation COM 401698105 12724 171365 SH SOLE 171365
Gulfmark Offshore, Inc. COM 402629109 305 17710 SH SOLE 17710
Harrington Financial Group COM 413801101 1430 168200 SH SOLE 168200
Harris Financial Inc. COM 414570101 605 40700 SH SOLE 40700
Hewlett Packard COM 428236103 5834 110197 SH SOLE 110197
Hubbell Inc. Cl B COM 443510201 6552 184577 SH SOLE 184577
IRT Property, Inc. COM 450058102 526 51950 SH SOLE 51950
ISB Financial Corp COM 450091103 1728 77675 SH SOLE 77675
ITLA Cap Corp COM 450565106 203 15000 SH SOLE 15000
Indiana United Bancorp COM 455149104 427 16600 SH SOLE 16600
Intel Corp COM 458140100 352 4100 SH SOLE 4100
International Bus Machine COM 459200101 523 4073 SH SOLE 4073
Jefferson Pilot Corp COM 475070108 759 12542 SH SOLE 12542
Jefferson Fed Svgs & Loan COM 474060100 280 14000 SH SOLE 14000
Johnson & Johnson COM 478160104 868 11090 SH SOLE 11090
KS Bancorp COM 48266R108 1339 74382 SH SOLE 74382
Latin American Dis. Fund COM 51828C106 2848 484764 SH SOLE 484764
Leeds Federal Svgs Bank COM 52442P105 233 15000 SH SOLE 15000
Leggett & Platt COM 524660107 3296 158854 SH SOLE 158854
Lilly, Eli & Co. COM 532457108 320 4085 SH SOLE 4085
Long Beach Financial Corp COM 542446109 990 107000 SH SOLE 107000
Lowes Company Inc. COM 548661107 1127 35416 SH SOLE 35416
<PAGE> PAGE 5
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
Lucent Technologies COM 549463107 524 7562 SH SOLE 7562
MLC Holdings Inc. COM 55305V107 160 20000 SH SOLE 20000
Marathon Bancorp COM 565757101 59 19000 SH SOLE 19000
McDonalds Corporation COM 580135101 736 12338 SH SOLE 12338
MediaOne Group, Inc. COM 58440J104 8237 185359 SH SOLE 185359
Mellon Bank Corporation COM 585509102 741 13474 SH SOLE 13474
Merck & Co. COM 589331107 11626 89733 SH SOLE 89733
Methode Electronics ClA COM 591520200 383 25500 SH SOLE 25500
Microsoft COM 594918104 21574 196013 SH SOLE 196013
Minnesota Mining & Mfg. COM 604059105 6043 82005 SH SOLE 82005
Mobil Corporation COM 607059102 209 2754 SH SOLE 2754
NationsBank Corporation COM 638585109 13728 256607 SH SOLE 256607
Nestor, Inc. COM 641074109 9 10000 SH SOLE 10000
Newell Co COM 651192106 647 14050 SH SOLE 14050
Newsedge Corp COM 65249Q106 220 25500 SH SOLE 25500
Niagara Bancorp, Inc. COM 652914102 294 30000 SH SOLE 30000
Norrell Corp GA COM 656301108 194 12900 SH SOLE 12900
Northwest Bancorp Inc. PA COM 667328108 256 25000 SH SOLE 25000
Ohio St Fin'l Svcs Inc. COM 677911109 256 18600 SH SOLE 18600
Onix Systems Inc. COM 67088G108 674 77000 SH SOLE 77000
PNC Bank Corp. COM 693475105 707 15700 SH SOLE 15700
Pennsylvania REIT COM 708160106 205 10000 SH SOLE 10000
Peoples Bank Newton NC COM 710215104 540 20000 SH SOLE 20000
Pepsico, Inc. COM 713448108 9012 306148 SH SOLE 306148
Phizer, Inc. COM 717081103 276 2609 SH SOLE 2609
Philip Morris Holding Co. COM 718154107 1181 25532 SH SOLE 25532
Phillips Electronics NV COM 718337504 4339 81295 SH SOLE 81295
Pitney Bowes COM 724479100 336 6400 SH SOLE 6400
Pluma Corp COM 729272104 89 39602 SH SOLE 39602
Proctor & Gamble COM 742718109 1143 16073 SH SOLE 16073
Provident Bankshares Gp COM 743859100 1511 59550 SH SOLE 59550
Quitman Bancorp COM 748803103 586 63300 SH SOLE 63300
Republic Industries COM 760516104 1022 70156 SH SOLE 70156
River Valley Bancorp COM 768475105 56 40000 SH SOLE 40000
SBC Communications Inc COM 78387G103 550 12384 SH SOLE 12384
SGV Bancorp Inc COM 78422T102 1581 126450 SH SOLE 126450
Sara Lee Corporation COM 803111103 1710 31671 SH SOLE 31671
Schering Plough COM 806605101 819 7900 SH SOLE 7900
Scottish Bank Charlotte COM 81013N104 200 12500 SH SOLE 12500
Security Bancorp Inc TN COM 813771102 631 38800 SH SOLE 38800
ServiceMaster Co COM 81760N109 8593 414117 SH SOLE 414117
Service Merchandise COM 817587108 472 314496 SH SOLE 314496
Sisterville Bancorp Inc COM 829793108 563 43300 SH SOLE 43300
Sonoco Products COM 835495102 5278 219908 SH SOLE 219908
SC Community Bankshares COM 83689P105 201 11000 SH SOLE 11000
Southcoast Community Bk COM 840903108 215 20000 SH SOLE 20000
Southern Financial Bancorp COM 842870107 3198 130518 SH SOLE 130518
Spaghetti Warehouse COM 846329100 1749 243381 SH SOLE 243381
Sportsmans Guide Inc COM 848907200 36 10000 SH SOLE 10000
Star Banc Corp COM 855083101 346 5240 SH SOLE 5240
<PAGE> PAGE 6
VALUE SHARES/ SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
Stone Street Bancorp, Inc COM 861747103 884 57975 SH SOLE 57975
SunTrust Banks, Inc. COM 867914103 747 12046 SH SOLE 12046
Symons Intl Group Inc COM 87154P105 1326 82900 SH SOLE 82900
Sysco COM 871829107 6692 284021 SH SOLE 284201
TCF Financial Corp COM 872275102 293 14752 SH SOLE 14752
Teche Holding Co COM 878330109 619 40900 SH SOLE 40900
Three Rivers Financial Corp COM 88562H107 707 43850 SH SOLE 43850
Triad Guaranty Inc. COM 895925105 17139 672101 SH SOLE 672101
Tribune Co COM 896047107 6993 139000 SH SOLE 139000
Tricon Global Restaurants COM 895953107 392 10009 SH SOLE 10009
Trigon Healthcare Inc. COM 89618L100 254 8200 SH SOLE 8200
UMB Financial Corp COM 902788108 7004 147650 SH SOLE 147650
UST Corp COM 902900109 409 19382 SH SOLE 19382
Unifirst Corporation COM 904708104 7622 282932 SH SOLE 282932
US Bancorp Del COM 911596104 1229 34500 SH SOLE 34500
US West Inc. COM 91273H101 321 6115 SH SOLE 6115
Vaughn Bassett Furniture COM 92238J109 225 5000 SH SOLE 5000
VF Corporation COM 918204108 4024 107313 SH SOLE 107313
Wachovia Corporation COM 929771103 2364 27726 SH SOLE 27726
Wallace Computer COM 932270101 2538 141471 SH SOLE 141471
Walter Industries Inc COM 93317Q105 3977 319755 SH SOLE 319755
Warner Lambert Co COM 934488107 408 5400 SH SOLE 5400
Wellington Hall Ltd COM 949535207 2 12500 SH SOLE 12500
Worthington Inc. COM 981811102 353 28275 SH SOLE 28275
REPORT SUMMARY 174 DATA RECORDS 297131 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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