Tabell’s Market Letter – August 14, 1959

fiLE COpy Walston &Co. Members Ne1lJ York Stock Exchange NEW YORK SAN FRANCISCO lOS ANGELES PHILADELPHIA CHICAGO OFFices COAST TO COAST AND OVERSEAS TABELL'S MARKET LETTER August 14, 1959 After breaking sharply to a low of 647.93 on Monday, the Dow-Jon.es Industrials held above this figure for the remainder of the week. Indications point to another re- accumulation period, during which time selection of individual stocks will be important. We are, therefore, reprinting below our entire recommended list with the exception of two issues under prospectus. Two issues, American Can and Philip Morris, have been dropped from the list due to poor relative strength action, along with Gulf Oil for which Union Oil of California was substituted on July 2nd. recommendation is 10. Average profit in the three dropped issues from time of '' Three new additions are being made. The market action orth-e paper 'stocks has improved sharply and two equities in this group are being added to the list WEST VIRGINIA PULP & PAPER (50) ,which appears to have the widest techmcal potential of any of the major companies, and GREAT NORTHERN PAPER (57) as a speculation on earnings recovery. The improved outlook for the dlstllling industry has resulted In better market action for this group also. Accordingly, SCHENLEY INDUSTRIES (43) down from Its 1958 high of 48 1/8, is being added to our list. Recom. Price Current Price Advice American Viscose 52 50 Buy-Hold. Strong support at 50-45 Butler Bros. Chicago, Mil., St. Paul, Pac. 39 26 39 Hold for 50-50. 27 Buy-Hold for substantial potential. Cluett Peabody 47 54 Buy-Hold for long term. Coca-Cola Consolidation Coal Dayton Rubber Fansteel Metallurgical 141 36 32 60 155 very favorable. 39 32 f,rJtB.eu H or igh was 50 1/2. technical pattern. 59 1\ buil' up strong potential base Getty Oil 28 , Great Northern Paper 57 Heinz, H.J. 55 BKaiser Magnavox Min. & Chem.s\, 0)Y 0 W Monsanto National Distillers 27 Newport News Shipb mg 47 (\)0 57 63 53 32 42 but appears Ne\v recommendation.' Action continues favorable. Slow but good potential base. In strong, long term uptrend. Has an 85 -1 00 technical potential. Buy-Hold. Group is strong. Buy-Hold. Good solid issue. Disappointing, but should improve. . Northwest Airlines Pennsalt Chemical Rohr Aircraft 38 35 My favorite airline issue. 23 30 One of strongest in chemical group 24 19 Acting poorly, but at strong suppor . Royal Dutch Schenley Industries 48 45 Appears undervalued. 43 43 Buy-Hold. New recommendation. Shell Transport Singer Mfg. Union Oil of California U. S. Foil B West Virginia Pulp & Paper Westinghouse Electric Wilson & Co. 22 48 50 50 49 88 15 21 55 50 63 49 9g. 42 ., Appears undervalued. Buy-Hold. Very favorable pattern. Interesting upside potential. In strong, long term uptrend. Buy-Hold. New recommendation. Buy-Hold. Long term potential 165. -Still indicates higner levels. LOW-PRICED LIST Avco Rec. Price Current Price 9 14 Hotel Corp. PRriecce. '/ CPurircreent '/ Chemway 11 13 Intern'l Packers 15 17 Curtis Publishing 15 12 Kaiser Ind. 15 17 Decca Records 18 19 National Can 14 9 Diveo-Wayne 17 25 Oliver Corp. 19 19 Fedders Corp. Freuhauf Trailer IEethe Oil l'z 6f16 B 19 17 aQ 18 25 19 Pete Pubhcker Ind. t!18 11 1115 11 This market letter is not, nnd no circum'!tances IS to be construed us, un offer to sell or a 1t.eQy rred crem The mfo tIon ctlo6nntltlflinferdwhlelr!eJmnl nCotog, uInnrcnntAcelld as to accuracy e..press1ons of or completeness oplnlon nrc aubJect the to furniShtn change ahe) rle\o.lffiIlSaan\o;tiltafnadWunnd'Ie'r no clrcu.trstf\nees IS to be construed OffIcers, Directors, as, a represen1;,a Stockholders and Ehtpytyets tfrereo purch CftlIl1'l!!IJ.W'y.pn ase, oo.y 1Sell05atn! d muy have a )Oar.'ftuneW'B n mte am,! n rc ot st a In sa the seeuntle'S mentIOn complete analySIS WmnrtcettettCrSIntended and merely ns a general, l7.r et securIties referred to herem will be I)I;' WNJOI