Tabell’s Market Letter – December 30, 1960

Tabell’s Market Letter – December 30, 1960

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Walston &Co.- lnc. FILE COpy MembeB New York Stock Exchange NEW YORK SAN FRANCISCO LOS ANGELES PHILADELPHIA CI-llCAGO OFFICES COAST TO COAST AND OVERSEAS TABELL'S MARKET LETTER December 30, 1960 Market action during the past week was mixed, with numerous cross-currents and heavy volume caused by tax-loss selling and other portfolio transactions that nor- mally take place atjlJ.e end of the year. The traditional year-end rally has, so far, gressed on schedule. At Thursday's high of 620.37, the Dow-Jones Industrials were close to their December high, and other averages, such as the Standard & Poor 425- Industrial index and 500-Stock index, and the New York Herald-Tribune 100-Stock ave actually reached new December highs. Readers of this letter have no doubt noted that we have been consistently optimis- tic about the 1961 market outlook. We continue to expect carry into January, perhaps to 640-645 in the Dow-Jones Industrials. After some irregularity and consolidation, we expect action for the remainder of the year to be constructive. For this reasorl, 'we are broadening our recommended list to include some one- hundred issues which we believe are suitable for purchase at this time, in order to par- ticipate in the expected 196i market advance. These issues are listed below. Those al- ready in the list are marked with an asterisk. Obviously, these issues vary widely in quality, yield, etc., and not all are suitable for purchase in all types of accounts. A complete tabulation of the list giving Standard & Poor's ratings, yields, and comments, will be available shortly at your nearest Walston office. Amer.Broad.Para. Gen'l Amer. Transp. North Amer.Aviation American Chicle General Mills Northern Natural Gas Amer. Metal Climax Gen'l Precision E Northern Pacific Rwy. Amer. Optical Georgia' Padfic Oklahoma Gas Elec. Amer.Potash Chem. Gerber Products Elec Amer.Smelt.Ref. Amer. Stores Amer. Viscose \YcGranite City Steel ((0 Great North. Paper E t.Pi;e y, Great West. Financial 1\ VA Phi' Petroleum \nderson layton' ' ..- -Great \/- sbury Milis–'- Arkansas Louis.Gas Haveg \.Y Pitney Bowes Audio Devices Barber Oil 90 Pitts. Plate Glass t Richfield Oil Bestwall Br-eing Airplan e or'l r .1 Seaboard Air Line R.R. Seaboard Finance CIT Financial d ement Singer Manufacturing Carnation Co surance Co. ,N .A. Southern Calif. Edison Caterpillar Tractor Intern'l Min. Chem. Southern Natural Gas Central & So. West Intern'l Tel & Tel Standard Oil of Kentucky Chicago Pneu. Tool,. Jewel Tea Sterling Drug, Inc. City Products Johns Manville Swift & Co. Cluett, Peabody Johnson & Johnson Tennessee Corp. Columbia Pictures Kennecott Copper Texas Gulf Sulphur Columbian Carbon Kern County Land Thompson-Ramo Wool. Consol.Mining &S Lone Star Gas TwentiethCentury-Fox Consol.Natural Gas Louisiana Lann Ex. United Air Lines Crown Cork & Seal Magnavox Co United Artists Deere & Co. Marquette Cement United Biscuit , Diamond National Martin Company United Shoe Machinery Eastern Gas & Fuel McCall Corp. U. S. Borax Chem. EI Paso Natural Gas McIntyre Porcupine Universal Oil Products Ex-Cello First Charter Finan. Food Mach.Chem. Freeport Sulphur Garrett Corp. Mesabi Iron Microwave Assoc. Miss.River Fuel National Aviation Newmont Mining Varian Associates Warner Bros. Pictures Winn-Dixie Stores Woolworth, F. W. Wrigley, Wm.Jr. Zenith Radio A VERY HAPPY AND PROSPEROUS NEW YEAR TO ALL. cto nhsetruemed BB, December 3C, 1960 RECOMMENDED LIST OF STOCKS SELLING ABOVE 20.00 A SHARE Edmund W. Tabell Walston & Co. Inc. Current Price American Broad. Para. 45 3/4 .American Chicle 76 American Metal Climax 24 5/8 American Optical 60 American Potash Chern. 42 7/8 American Smelt. Ref. 55 l/ 8 American Stores 77 3/4 American Viscose 42 1/2 Anderson Clayton 38 1/2 Arkansas Louis. Gas 35 3/4 Audio Devices 26 3/8 Barber Oil 71 1/4 Bestwall Gypsum 42 1/4 Boemg Airplane 36 3/4 CIT Financial 67 Carnation Co 66 1/4 Caterpillar Tractor 30 1/2 Central & So. West 40 1/4 Chicago Pneu. Tool 28 3/8 City Products 44 3/4 Cluett, Peabody 61 1/8 Coca Cola 80 1/2 Columbia Pictures 22 7/8 Columbian Carbon 52 1/2 Cansol. Mining & S 20 3/8 Consol. Natural Gas 51 1/8 Crown Cork & Seal 43 1/8 Daystrom 30 7/8 Deere & Co. 523/4 Diamond National 37 Dome Mines 233/4 Eastern Gas & Fuel 293/4 Ele ctric Storage Battery 50 3/4 EI Paso Natural Gas 28 Ex-Cello 353/4 Fansteel Metallurgical 475/8 First Charter Financial 29 1/8 Food Mach. Chern. 60 3/4 Freeport Sulphur 31 1/4 Garrett Corp. 51 7/8 General Amer. Trans. 793/4 General Mills 32 3/8 General Precision E 56 Georgia Pacific Ply. 55 Gerber Products 63 3/4 Granite City Steel 37 1/2 Great North. Paper 48 1/4 Great West. Financial 31 1/4 Great Western Sugar 29 Haveg Industries 865/8 Hercules Powder 80 I / 4 Hertz Corp. 65 1/8 Heyden Newport 23 7/8 Holly Sugar 30 1/2 S&P Rating B A B B B B A B B A- BoO B A A A B B B AB B B A BoO B B B B B B B A B A A AA A B B A B B B B A A B B Indicated Dividend 1. 00 2.00 1. 40, 2.00 1. 20 2.00 2.00 2.00 2.00 1. 00 4/0 stk. 3/0 stk. 1. 60 2.80 1. 50 1. 00 .96 1. 20 2.60 2.50 2.40 5/0 stk. 2.40 1. 00 2.20 1. 20 2.00 1. 60 .70 1. 60 2.00 1. 30 1. 50 1. 00 5/0 stk. 1. 40 1. 20 2.00 2.25 1. 25 1. 00 1. 00 1. 40 1. 40 1. 00 .30 1. 60 .60 1. 30 1. 30 .80 1. 40 /0 Yield Comment 2.2 2.6 5.7 3.3 2. 8 3.6 2.6 4.7 5.2 2.8 4.4 4.2 2.3 3.3 2.4 4.2 5.8 4. 1 3.0 4.6 4. 9 4.3 3.9 3.8 4.3 2.9 5.4 3.9 4.6 4.2 2.1 2.3 3.8 3.9 2.8 3.9 1.8 1.8 2.2 3.7 2. 0.96 5.5 0.69 1.6 2.0 3.4 4.6 Buy-HJld Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold / Bu;y'Hold .. /'l3uy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Hold for 85 Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Hold for 40 Buy-Hold Buy-Hold Hold Buy-Hold Hold Buy-Hold Buy-Hold Hold for 60 Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy .. Hold – . .. ., ii, Current Price Ideal Cement 26 7/8 Insurance Co. , N. A. 78 Intern'l Min. & Chern. 343/4 Intern'l Tel & Tel 48 .Jewel Tea 50 1/4 Johns Manville 57 1/4 .Johnson & Johnson 74 3/4 Kennecott Copper 74 l/a Kern County Land 53 Lone Star Gas 47 3/a Louisiana Land Ex. 62 l/a Magnavox Co 48 1/4 Marquette Cement 53 1/4 Martin Company 61 7/a McCall Corp. 39 5/a Mcintyre Porcupine 273/4 Mesabi Iron 86 1/2 Microwave Assoc. 35 Miss. River Fuel 34 l/a National Aviation 29 3/4 Newmont Mining 62 1/2 North. Amer. Aviation 47 5/a Northern Natural Gas 30 3/a Northern Pacific Rwy 42 l/a Northrop Corp. 447/a Oklahoma Gas Elec. 35 1/4 Pacific Gas & Elec. 75 3/4 Panhandle East. Pipe 493/4 Penney, .J. C. 41 1/2 Phillips Petroleum 53 7/a Pillsbury Mills 445/a Pitney Bowes 41 Pitts. Plate Glass 69 3/4 Richfield Oil a8 1/4 Royal Dutch 33 Seaboard Air Line R.R. 323/8 Seaboard Finance 22 3/4 Singer Manufacturing 66 1/2 Southern Calif. Edison 66 Southern Natural Gas 38 3/8 Stand. Oil of Kentucky 70 1/2 Sterling Drug, Inc. 69 3/4 Swift & Co. 453/4 Tennessee Corp. 50 Texas Gulf Sulphur 19 1/8 Thompson-Ramo Wool. 82 1/4 Twentieth-Century F 40 1/2 United Air Lines 35 1/2 United Artists 32 1/2 United Biscuit 37 3/4 Uted Shoe Mach. 59 U.S. Borax U.S. Foil B 37 3/4 36 1/4 Universal Oil Prod. 31 3/8 Varian Assoc. 48 1/2 Warner Bros. Pictures 52 7/8 Westinghouse Elec. 493/8 Wilson & Co. 423/4 Winn-Dixie Stores 27 1/2 Woolworth, F. W. 69 Wrigley. Wm.Jr. 99 Zenith Radio 99 1/4 -2- S& P Rating A- B B A A A B A AA B A B B A A- AB AA AA A A A A A A B B A AA A B A B A B B B B B B B B B B B A AB A Indicated Dividend .80 1. 80 1. 60 1. 00 1. 40 2.00 1. 00 5.00 2.40 1. ao 1. ao 1. 00 1. 80 2.00 1. 60 1. 23 3.00 1. 60 .25 2.40 2.00 1. 40 2.20 1. 60 1. 12 2.60 I. ao 1. 50 1. 70 1. 40 .72 2.20 3.50 1. 00 2.00 1. 00 2.60 2.60 2.00 3.25 1. 80 1. 85 1. 41 1. 00 1.40 1. 60 .50 1. 60 .80 2.75 .60 .30 .50 1. 20 1. 20 1. 60 .72 2.50 4.50 2.75 Yield 3.0 2.3 4.6 2. 1 2.8 3.5 1.3 6.7 4.5 3.a 2.9 2. 1 3.4 3.2 4.0 4.4 3.5 4.7 .80 3.8 4.2 4.6 5.2 3.6 3.2 3.4 3.6 3.6 3.2 3. I 1.8 3.2 4.0 3.0 6.2 4.4 3. 9 3. 9 5.2 4.6 2. 6 4.0 2.8 5.2 1.7 4.0 1.4 4.9 2. 1 4.7 1.6 .80 1.6 2.3 2.4 3.7 2. 6 3.6 4.5 2.8 Comment Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Hold for 52-55 Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold fuy -Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Buy-Hold Hold Buy-Hold Buy-Hold Buy-Hold Hold for 55 -60 Hold for 50 Buy-Hold Buy-Hold Buy-Hold Buy-Hold -…..

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