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 ** October **
            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

  SCANA            32  7/8   1.54   4.7   2.36   14   37  1/4  - 26  1/2  10-1

  Republic NY      46  3/4   1.00   2.1   2.16   22   73  1/4  - 36  3/16 10-1

  Comerica         67  1/2   1.28   1.9   3.60   19   73       - 46  1/2  10-1

  Western Res      35  3/8   2.14   6.0   7.47    5   44  3/16 - 34  3/8  10-3

  Kimberly-Clark   51  1/16  1.00   2.0   1.43   36   59  7/16 - 35  7/8  10-3

  Wal-Mart Stores  74  1/4    .31    .4   1.75   42   75       - 36  3/4  10-3

  Chubb Corp       71  1/4   1.24   1.7   4.37   16   88 13/16 - 55  3/8  10-4

  CIGNA Corp       80  3/4   1.15   1.4   6.03   13   82  3/16 - 51 15/16 10-10

  Philip Morris    57  7/8   1.76   3.0   2.62   22   59  1/4  - 34  3/4  10-10X

  Piedmont Nat'l G 34  3/4   1.30   3.7   1.99   17   36  7/16 - 27  7/8  10-14

  Family Dollar St 18 15/16   .18   1.0    .56   34   21  7/8  - 11  1/2  10-14

  Sempra Corp      25 13/16  1.56   6.0   1.35   19   29  5/16 - 23  3/4  10-15

  IPALCO Enter     48  1/16  1.10   2.3   2.52   19   52  7/16 - 35 15/16 10-15 

  Household Int'l  39         .60   1.5    .97   40   53 11/16 - 23       10-15X

  PEP Boys-Man     14  1/2    .26   1.8    .41   35   26 11/16 - 12  3/8  10-24

  Service Corp Int 39  5/16   .36    .9   1.44   27   47  1/8  - 29  1/2  10-28X

  Service Master   21 11/16   .36   1.7    .62   35   25  1/2  - 15  3/8  10-31

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