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Previous: PRIMEDIA INC, 10-Q, 1998-08-14 |
Next: UGI CORP /PA/, 10-Q, 1998-08-14 |
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<PAGE> PAGE 1
SECURITIES AND EXCHANGE COMMISSION
FORM 13F-E
Report for the Calendar Year or Quarter Ended: 06/30/98
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 June 30,1998
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
1st day of May, 1998.
Salem Investment Counselors. Inc.
By: /s/ Dale M. Brown
Dale M. Brown
Vice President
<PAGE> PAGE 2
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 08/05/98
<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 416 7286 SH SOLE 7286
Abbott Labs COM 002824100 798 19456 SH SOLE 19456
Acadiana Bancshares, Inc. COM 004280103 372 16520 SH SOLE 16520
Acorn International Fund COM 004851200 2229 102551 SH SOLE 102551
Affiliated Community COM 008188104 518 14250 SH SOLE 14250
Alltell Corp. COM 020039103 302 6500 SH SOLE 6500
American General Corp COM 026351106 272 3818 SH SOLE 3818
American Home Products COM 026609107 1034 19978 SH SOLE 19978
American Stores Co COM 030096101 271 11210 SH SOLE 11210
Ameritech COM 030954101 330 7352 SH SOLE 7352
Amoco Corporation COM 031905102 592 13200 SH SOLE 13200
Analysts Int'l Corp COM 032681108 617 21750 SH SOLE 21750
Archer Daniels Midland COM 039483102 198 10214 SH SOLE 10214
Asia Tigers Fund, Inc. COM 04516T105 847 134215 SH SOLE 134215
Automatic Data Process COM 053015103 898 12320 SH SOLE 12320
BB&T Corporation COM 054937107 1713 25326 SH SOLE 25326
Bank of Granite COM 062401104 273 8668 SH SOLE 8668
BankAtlantic Bancorp COM 065908501 411 34750 SH SOLE 34750
Bankunited Fin Corp CL A COM 065412108 297 18000 SH SOLE 18000
Basin Exploration Inc. COM 070107107 1221 69300 SH SOLE 69300
Bay View Capital Corp. COM 07262L101 318 10000 SH SOLE 10000
Bayard Drilling Tech COM 072700107 228 28000 SH SOLE 28000
Bell Atlantic Corp. COM 077853109 294 9270 SH SOLE 9270
Bellsouth Corp. COM 079860102 491 7308 SH SOLE 7308
Berkshire Hathaway CL A COM 084670108 783 10 SH SOLE 10
Boddie-Noell Rest Ppty COM 096903109 2494 190050 SH SOLE 190050
Bristol Myers Squibb COM 110122108 535 4656 SH SOLE 4656
Broadway Financial Corp COM 111444105 215 20000 SH SOLE 20000
CCB Financial Corp COM 124875105 2970 27955 SH SOLE 27955
CT Communication CL B COM 126426204 253 1980 SH SOLE 1980
Callon Petroleum Co Del COM 13123X102 218 15226 SH SOLE 15226
Capital Bank-Raleigh, NC COM 139808109 813 50000 SH SOLE 50000
Cardiovascular Diagnostic COM 14060E106 1403 244063 SH SOLE 244063
Carolina Fincorp, Inc. COM 143874105 442 42100 SH SOLE 42100
Cenit Bancorp COM 15131W109 331 14400 SH SOLE 14400
Century Bancorp COM 156433104 1187 69800 SH SOLE 69800
Century Bancshares COM 156436107 1787 188139 SH SOLE 188139
Chevron Corporation COM 166751107 545 6508 SH SOLE 6508
Cincinnati Financial Corp COM 172062AB7 928 24192 SH SOLE 24192
Cisco Systems COM 17275R102 1646 17875 SH SOLE 17875
Coca-Cola Corporation COM 191216100 15198 177754 SH SOLE 177754
Coddle Creek Financial COM 191891100 4461 60075 SH SOLE 60075
Colonial Downs Hldgs Cl A COM 195644100 26 10000 SH SOLE 10000
Community Bancshares COM 203433107 1151 86076 SH SOLE 86076
Compaq Computer COM 204493100 294 10350 SH SOLE 10350
ComSouth Bankshares COM 205648108 621 23000 SH SOLE 23000
Consolidated Products COM 209798107 228 10800 SH SOLE 10800
Consolidation Cap Corp COM 210296109 468 20800 SH SOLE 20800
Cooperative Bancshares COM 216844100 3489 199350 SH SOLE 199350
Corecomm Inc. COM 21868N106 236 9000 SH SOLE 9000
<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
Cree Research Inc COM 225447101 352 23450 SH SOLE 23450
Cypress Semiconductor COM 232806109 120 14400 SH SOLE 14400
Dallas Semiconductor COM 235204104 241 7780 SH SOLE 7780
Dell Computer Corp COM 247025109 589 6346 SH SOLE 6346
Dime Bancorp, Inc. COM 25429Q102 299 10000 SH SOLE 10000
Disney, Walt Company COM 254687106 1473 14019 SH SOLE 14019
Duke Energy Company COM 264399106 1551 26178 SH SOLE 26178
Dupont de nemours COM 263534109 229 3060 SH SOLE 3060
Eaton Corp COM 283695872 212 2724 SH SOLE 2724
Emerson Electric COM 291011104 252 4166 SH SOLE 4166
Engel General Developers COM M40515104 297 48000 SH SOLE 48000
Equitable Fed Svgs Bk COM 294487103 210 7000 SH SOLE 7000
Excel Realty Pfd 8.625% PRE 30067R404 246 10000 SH SOLE 10000
Exxon Corporation COM 302290101 1608 22531 SH SOLE 22531
Fannie Mae COM 313586109 768 12650 SH SOLE 12650
First American Corp, TN COM 318900107 1569 32610 SH SOLE 32610
First Regional Bancorp COM 33615C101 730 78900 SH SOLE 78900
First Union Corporation COM 337358105 4625 79394 SH SOLE 79394
First Fed Financial Corp COM 337907109 9484 182384 SH SOLE 182384
FirstSpartan Fin'l Corp COM 337931109 5385 130539 SH SOLE 130539
Fred Meyer Inc COM 592907109 383 9000 SH SOLE 9000
General Electric COM 369604108 4577 50368 SH SOLE 50368
Gillette Co COM 375766102 366 6442 SH SOLE 6442
Golden St Bancorp Inc COM 381197102 298 10000 SH SOLE 10000
Guidant Corporation COM 401698105 12491 175160 SH SOLE 175160
Harbor FL Bancshares Inc COM 411901101 239 20000 SH SOLE 20000
Harrington Financial Group COM 413801101 1892 168200 SH SOLE 168200
Harris Financial Inc. COM 414570101 895 40700 SH SOLE 40700
Hewlett Packard COM 428236103 6539 109217 SH SOLE 109217
Hubbell Inc. Cl B COM 443510201 7866 180303 SH SOLE 180303
IRT Property, Inc. COM 450058102 586 53250 SH SOLE 53250
ISB Financial Corp COM 450091103 2045 77175 SH SOLE 77175
Indiana United Bancorp COM 455149104 898 16260 SH SOLE 16260
Intel Corp COM 458140100 749 10100 SH SOLE 10100
International Bus Machine COM 459200101 468 4073 SH SOLE 4073
Jefferson Pilot Corp COM 475070108 769 13278 SH SOLE 13278
Jefferson Fed Svgs & Loan COM 474060100 392 13300 SH SOLE 13300
Johnson & Johnson COM 478160104 807 10905 SH SOLE 10905
KS Bancorp COM 48266R108 1663 74748 SH SOLE 74748
Latin American Dis. Fund COM 51828C106 4599 484143 SH SOLE 484143
Leeds Federal Svgs Bank COM 52442P105 274 15000 SH SOLE 15000
Leggett & Platt COM 524660107 4364 174564 SH SOLE 174564
Lilly, Eli & Co. COM 532457108 271 4085 SH SOLE 4085
Long Beach Financial Corp COM 542446109 1177 107000 SH SOLE 107000
Lowes Company Inc. COM 548661107 1339 33016 SH SOLE 33016
Lucent Technologies COM 549463107 686 8244 SH SOLE 8244
MLC Holdings Inc. COM 55305V107 275 20000 SH SOLE 20000
McDonalds Corporation COM 580135101 851 12338 SH SOLE 12338
MediaOne Group COM 58440J104 10372 236059 SH SOLE 236059
Mellon Bank Corporation COM 585509102 939 13474 SH SOLE 13474
<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
Merck & Co. COM 589331107 12558 93893 SH SOLE 93893
Methode Electronics ClA COM 591520200 395 25500 SH SOLE 25500
Minnesota Mining & Mfg. COM 594918104 6650 80915 SH SOLE 80915
Microsoft COM 604059105 22100 203923 SH SOLE 203923
Mobil Corporation COM 607059102 704 9191 SH SOLE 9191
NationsBank Corporation COM 638585109 19679 256607 SH SOLE 256607
Nestor, Inc. COM 641074109 20 10000 SH SOLE 10000
Newell Co COM 651192106 824 16550 SH SOLE 16550
Newsedge Corp COM 65249Q106 252 25500 SH SOLE 25500
Niagara Bancorp, Inc. COM 652914102 443 30000 SH SOLE 30000
Norrell Corp GA COM 656301108 257 12900 SH SOLE 12900
Northwest Savings Bank COM 667328108 395 25000 SH SOLE 25000
Norwest Corp COM 669380107 218 5800 SH SOLE 5800
Ohio St Fin'l Svcs Inc. COM 677911109 467 30600 SH SOLE 30600
Onix Systems Inc COM 67088G108 914 71000 SH SOLE 71000
PNC Bank Corp COM 693475105 846 15700 SH SOLE 15700
Pennsylvania REIT COM 708160106 233 10500 SH SOLE 10500
Peoples Bank Newton NC COM 710215104 635 20000 SH SOLE 20000
Pepsico, Inc. COM 713448108 11266 273528 SH SOLE 273528
Philip Morris Holding Co. COM 718154107 993 25231 SH SOLE 25231
Phillips Electronics NV COM 718337504 1647 19400 SH SOLE 19400
Pluma Corp COM 729272104 265 39602 SH SOLE 39602
Proffitts Inc COM 742925100 307 7600 SH SOLE 7600
Proctor & Gamble COM 742718109 1439 15800 SH SOLE 15800
Provident Bankshares Gp COM 743859100 1736 58860 SH SOLE 58860
Quitman Bancorp COM 748803103 823 63300 SH SOLE 63300
River Valley Bancorp COM 768475105 750 40000 SH SOLE 40000
Royal Dutch Pete Co NY COM 780257804 280 5100 SH SOLE 5100
SBC Communications Inc COM 78387G103 477 11925 SH SOLE 11925
SGV Bancorp Inc COM 78422T102 2184 128450 SH SOLE 128450
Sara Lee Corporation COM 803111103 1984 35464 SH SOLE 35464
Schering Plough COM 806605101 1594 17400 SH SOLE 17400
Schlumberger Ltd COM 806857108 246 3600 SH SOLE 3600
Scottish Bank Charlotte COM 81013N104 200 12500 SH SOLE 12500
Security Bancorp Inc TN COM 813771102 629 37300 SH SOLE 37300
ServiceMaster Co COM 81760N109 10381 272730 SH SOLE 272730
Service Merchandise COM 817587108 525 335996 SH SOLE 335996
Sisterville Bancorp Inc COM 829793108 677 43300 SH SOLE 43300
Sonoco Products COM 835495102 6099 201606 SH SOLE 201606
SC Community Bankshares COM 83689P105 235 11000 SH SOLE 11000
Southern Financial Bancorp COM 842870107 3316 126933 SH SOLE 126933
Spaghetti Warehouse COM 846329100 1961 245181 SH SOLE 245181
Sportsmans Guide COM 848907200 45 10000 SH SOLE 10000
Star Banc Corp COM 855083101 335 5240 SH SOLE 5240
Staten Island Bancorp Inc COM 857550107 780 34300 SH SOLE 34300
Stone Street Bancorp, Inc COM 861747103 1142 59725 SH SOLE 59725
SunTrust Banks, Inc. COM 867914103 979 12046 SH SOLE 12046
Symons Intl Group Inc COM 87154P105 1250 66650 SH SOLE 66650
Sysco COM 871829107 7103 277181 SH SOLE 277181
TCF Financial Corp COM 872275102 435 14752 SH SOLE 14752
<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
Teche Holding Co COM 878330109 867 44200 SH SOLE 44200
Three Rivers Financial Corp COM 88562H107 846 43650 SH SOLE 43650
TriContinental Corp COM 895436103 241 8662 SH SOLE 8662
Triad Guaranty Inc. COM 895925105 22422 659481 SH SOLE 659481
Tribune Co COM 896047107 9403 136643 SH SOLE 136643
Tricon Global Restaurants COM 895953107 312 9845 SH SOLE 9845
Trigon Healthcare Inc. COM 89618L100 3615 99883 SH SOLE 99883
UMB Financial Corp COM 902788108 7083 143085 SH SOLE 143085
Unifirst Corporation COM 904708104 6965 278617 SH SOLE 278617
US Bancorp Del COM 911596104 1484 34500 SH SOLE 34500
US West Inc. Media Group COM 91273H101 434 9268 SH SOLE 9268
VF Corporation COM 918204108 4609 89070 SH SOLE 89070
Wachovia Corporation COM 929771103 2134 25249 SH SOLE 25249
Wallace Computer COM 932270101 3115 131171 SH SOLE 131171
Walter Industries Inc COM 93317Q105 4693 247825 SH SOLE 247825
World Color Press Inc COM 981443104 700 20000 SH SOLE 20000
Worthington Inc. COM 981811102 464 30805 SH SOLE 30805
REPORT SUMMARY 167 DATA RECORDS 356032 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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