November 24, 1998

   ELTON STEPHENS - INVESTMENT ADVISOR              Page 1 of 2

   **************************************************************************

   SPECIALIZING IN COMMON STOCKS - NYSE             P.O. BOX 476

   800-55-ELTON (35866) OR 219-291-3823             SOUTH BEND, IN 46624-0476 

                                                              U.S.A. 

                               BLUE CHIP STOCKS

                               ISSN # 0896-4904
                Blue Chip Stocks Buys for the month of ** December **
            The information given herein is taken from sources which we

      believe to be reliable, but which we in no way can guarantee.

                                                                           Buy

      Name          Price    Div.  Yield  Earn. P.E.        Range         Date

  Wisconsin Energy 30  1/2   1.56   5.1   1.21   25   34       - 25  7/8  12-1

  Bay State Gas    39  3/8   1.62   4.1    .91   43   39  3/4  - 28  1/2  12-1

  Smucker JM A     22  1/8    .56   2.5   1.26   18   27  3/4  - 20  1/16 12-1

  Smucker JM B     23  1/16   .56   2.4   1.26   18   28  3/16 - 20  5/8  12-1

  Grainger WW      44         .60   1.4   2.38   18   54 11/16 - 36  7/16 12-1

  AFLAC            37 15/16   .26    .7   1.69   22   39 15/16 - 22  1/2  12-1 

  Johnson & Johns  85  3/16  1.00   1.2   2.62   33   89  3/4  - 62 11/16 12-6

  Donnelley R H    14  5/8    .70   4.8   2.70    5   20       - 10       12-9

  Liberty Corp     48  5/8    .88   1.8   2.35   21   52 15/16 - 36  1/4  12-9

  Pepsi Cola Comp  36  7/8    .52   1.4   1.32   28   44 13/16 - 27  9/16 12-9

  Exxon Corp       71  7/8   1.64   2.3   2.99   24   76 15/16 - 56  5/8  12-10X

  Questar Corp     19 13/16   .66   3.3   1.20   17   22  3/8  - 15 13/16 12-12

  PPG Industries   61  3/4   1.44   2.3   4.46   14   76  5/8  - 49  1/8  12-12

  Du Pont E        59  7/8   1.40   2.3   1.49   40   84  7/16 - 52  1/4  12-14X

  Leggett & Platt  22 13/16   .32   1.4   1.21   19   28  3/4  - 16  7/8  12-15

  Teleflex         42         .46   1.1   2.05   20   46  3/8  - 29  1/2  12-15

  Nacco Ind        88  7/8    .82    .9  12.28    7  177       - 76  1/4  12-15

  Interpublic Grp  69  9/16   .60    .9   2.17   32   71  1/8  - 45  1/8  12-15

  Equifax Inc      42  3/4    .36    .8   1.29   33   44  1/4  - 29  3/4  12-15

  American Int'l   96 11/16   .22    .2   3.46   28  102  5/16 - 64  7/8  12-16

  Mc Donald's Corp 71  9/16   .36    .5   2.29   31   74 15/16 - 44  3/8  12-18

  Old Republic     21         .40   1.9   2.23    9   32  1/4  - 17 15/16 12-22

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