The Dow Approach - Tuesday, April 23, 1996

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BTD 10
As Of 04/23/96

International Paper
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IP)") else Response.Write("(NYSE:IP)") end if %>

General Motors
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GM)") else Response.Write("(NYSE:GM)") end if %>

Chevron Corp
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CHV)") else Response.Write("(NYSE:CHV)") end if %>

Minnesota Mining & Mfg
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MMM)") else Response.Write("(NYSE:MMM)") end if %>

General Electric
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GE)") else Response.Write("(NYSE:GE)") end if %>

Du Pont de Nemours & Co.
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %>

Exxon
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:XON)") else Response.Write("(NYSE:XON)") end if %>

J.P. Morgan
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:JPM)") else Response.Write("(NYSE:JPM)") end if %>

Texaco
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:TX)") else Response.Write("(NYSE:TX)") end if %>

Philip Morris
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MO)") else Response.Write("(NYSE:MO)") end if %>

***NOTE: FOOLISH FOUR STOCKS ARE ITALICISED

The Daily Dow
Tuesday, April 23, 1996
by Robert Sheard

LEXINGTON, Ky. (Apr. 23): Thanks to a Wall Street firm's recommendation, Chevron gushed today, picking up 3% and leading the Foolish Four to a nice day. Chevron, of course, is the stock which carries a double weighting in the Foolish Four model for this year, so any move in it spurs the model considerably.

Over the last year or so, Chevron hasn't exactly set the Dow Approach world on fire, but with oil prices rising higher and talks with Iraq seemingly going nowhere, the oil companies are getting a little boost.

Chevron also announced today that it will be redeeming all of its outstanding 9.375% Debentures which are due in 2016. The company will pay a redemption price of 104% of the principal amount, plus accrued and unpaid interest to the redemption date on June 1. Chevron will then be able to replace these bonds with debt at a lower rate, cutting interest expense.

Eastman Kodak announced today that it's joining with Golden Ring Entertainment to open a luxury cinema on Pushkin Square in Moscow this September. This project represents Kodak's first investment in the exhibition business. The cinema will be a state-of-the-art 480-seat theater. The KUHOMOP will be housed in an enclosed entertainment complex, complete with American fast food, a Hollywood studio merchandise shop, and a Kodak imaging store offering cameras, film, supplies, and accessories. Moscow meets Hollywood!

Transmitted: 4/23/96 5:44 PM

The 30
Dow Stocks Allied Signal
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:ALD)") else Response.Write("(NYSE:ALD)") end if %> Alcoa
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:AA)") else Response.Write("(NYSE:AA)") end if %> American Express
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:AXP)") else Response.Write("(NYSE:AXP)") end if %> AT&T
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:T)") else Response.Write("(NYSE:T)") end if %> Bethlehem Steel
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:BS)") else Response.Write("(NYSE:BS)") end if %> Boeing
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:BA)") else Response.Write("(NYSE:BA)") end if %> Caterpillar
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CAT)") else Response.Write("(NYSE:CAT)") end if %> Chevron
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CHV)") else Response.Write("(NYSE:CHV)") end if %> Coca-Cola
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:KO)") else Response.Write("(NYSE:KO)") end if %> Disney
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DIS)") else Response.Write("(NYSE:DIS)") end if %> DuPont
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %> Eastman Kodak
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:EK)") else Response.Write("(NYSE:EK)") end if %> Exxon
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:XON)") else Response.Write("(NYSE:XON)") end if %> General Electric
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GE)") else Response.Write("(NYSE:GE)") end if %> General Motors
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GM)") else Response.Write("(NYSE:GM)") end if %> Goodyear
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GT)") else Response.Write("(NYSE:GT)") end if %> IBM
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IBM)") else Response.Write("(NYSE:IBM)") end if %> International Paper
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IP)") else Response.Write("(NYSE:IP)") end if %> McDonald's
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MCD)") else Response.Write("(NYSE:MCD)") end if %> Merck
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MRK)") else Response.Write("(NYSE:MRK)") end if %> 3M
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MMM)") else Response.Write("(NYSE:MMM)") end if %> JP Morgan
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:JP)") else Response.Write("(NYSE:JP)") end if %> Philip Morris
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MO)") else Response.Write("(NYSE:MO)") end if %> Proctor & Gamble
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:PG)") else Response.Write("(NYSE:PG)") end if %> Sears
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:S)") else Response.Write("(NYSE:S)") end if %> Texaco
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:TX)") else Response.Write("(NYSE:TX)") end if %> Union Carbide
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UK)") else Response.Write("(NYSE:UK)") end if %> United Tech
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UTX)") else Response.Write("(NYSE:UTX)") end if %> Westinghouse
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:WX)") else Response.Write("(NYSE:WX)") end if %> Woolworth
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:Z)") else Response.Write("(NYSE:Z)") end if %>

Today's Dow Numbers

THE FOOLISH FOUR (4/23/96)

Day Week Quarter Year History

Fool-4 1.47% 1.91% 2.82% 10.91% 10.91%

DJIA 0.43% 0.96% 0.03% 9.21% 9.21%

S&P 500 0.57% 1.01% 0.94% 5.79% 5.79%

NASDAQ 1.15% 2.46% 5.94% 10.89% 10.89%

Rec'd # Security In At Now Change

1/2/96 142 DuPont 69.88 84.63 21.11%

1/2/96 148 E. Kodak 67.00 76.00 13.43%

1/2/96 380 Chevron 52.38 57.63 10.02%

1/2/96 149 3M 66.38 64.50 -2.82%

Rec'd # Security Cost Value Change

1/2/96 142 DuPont $9,922.25 $12,016.75 $2,094.50

1/2/96 148 E. Kodak $9,916.00 $11,248.00 $1,332.00

1/2/96 380 Chevron $19,902.50 $21,897.50 $1,995.00

1/2/96 149 3M $9,889.88 $9,610.50 $(279.38)

CASH $682.44

TOTAL $55,455.19

Transmitted: 4/23/96 5:44 PM

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