13F-HR 1 aic2q02.txt 13F HOLDINGS REPORT FORM 13F COVER PAGE "Report for the Quarter Ended: sep 30, 2002" Check here if Amendment [ ] ; Amendment Number: This Amendment (Check only one.) [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: "Argus Investors' Counsel, Inc." Address "100 Prospect Street, South Tower" "Stamford, CT 06901" 13F Filing Number: 28-542 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the "person signing the report is authorized to submit it, that" "all information contained herein is true, correct and complete, " "and that it is understood that all requirements, statements, " "schedules, lists and tables, are considered integral parts" of this form Person signing this report on behalf of reporting manager: Name: Stewart P. Zobian Title: President Phone: (203) 316-9000 "Signature, Place and Date of signing" "Stewart P. Zobian, Stamford, CT nov 21, 2002" Report Type (Check only one.): [X] 13F Holdings Report [ ] 13F Notice [ ] 13F Combination Report List of other Managers Reporting for this Manager:NONE I am signing this report as required by the Securities Exchange Act of 1934 FORM 13F SUMMARY PAGE Report Summary: Number of other included Managers: 0 Form 13F information Table Entry Total: 434 Form 13F information Table Value Total: 437,887270 List of other included managers: NONE FORM 13F 9/30/02 REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 1 ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY OF NUMBER MARKET PRINCIPAL SHARED GERS CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE (A) (B) (C) (A) (B) (C) AOL TIME WARNER INC COMMON 00184A105 7677833 656225 656225 646125 1200 AT&T CORP COMMON 001957109 11314621 942100 942100 924600 ABBOTT LABS COMMON 002824100 11086972 274430 274430 269430 AIR PRODS & CHEMS INC COMMON 009158106 12622955 300475 300475 295375 500 ALBERTSONS INC COMMON 013104104 10013716 414475 414475 407475 ALCOA INC COMMON 013817101 6648561 344485 344485 338385 600 AMERICAN EXPRESS CO COMMON 025816109 12234253 392375 392375 384775 600 AMERICAN INTL GROUP INC COMMON 026874107 8266428 151123 151123 148323 300 ARCHER DANIELS MIDLAND C COMMON 039483102 1096026 87612 87612 87612 AUTOMATIC DATA PROCESSIN COMMON 053015103 7739107 222580 222580 219130 450 BP PLC COMMON 055622104 914747 22926 22926 22426 500 BECTON DICKINSON & CO COMMON 075887109 9248460 325650 325650 320250 CATERPILLAR INC DEL COMMON 149123101 717416 19275 19275 18875 400 CISCO SYS INC COMMON 17275R102 6265992 597900 597900 587300 1200 COCA COLA CO COMMON 191216100 1556302 32450 32450 28150 DELL COMPUTER CORP COMMON 247025109 12080614 513850 513850 504850 800 DELTA AIR LINES INC DEL COMMON 247361108 813897 87610 87610 86810 800 DISNEY WALT CO COMMON 254687106 8191497 541050 541050 531600 1050 DOW CHEM CO COMMON 260543103 12782446 468050 468050 459450 EL PASO CORP COMMON 28336L109 10866201 1313930 1313930 1291850 1280 EL PASO CORP COMMON 28336L109 127110 15370 15370 T 15370 EMERSON ELEC CO COMMON 291011104 8822054 200775 200775 197775 EXXON MOBIL CORP COMMON 30231G102 9024319 282894 282894 277194 FEDERAL NATL MTG ASSN COMMON 313586109 11666565 195945 195945 192520 325 FEDEX CORP COMMON 31428X106 13973285 279075 279075 274025 450 FORD MTR CO DEL COMMON 345370860 6990340 713300 713300 700500 GANNETT INC COMMON 364730101 12394750 171720 171720 169020 300 GENERAL ELEC CO COMMON 369604103 6877843 279020 279020 273620 600 GILLETTE CO COMMON 375766102 13413684 453165 453165 444775 690 HOME DEPOT INC COMMON 437076102 7116296 272655 272655 268055 500 INTEL CORP COMMON 458140100 7466222 537525 537525 528225 800 INTERNATIONAL BUSINESS M COMMON 459200101 6780578 116285 116285 114385 INTL PAPER CO COMMON 460146103 1125043 33694 33694 33694 J P MORGAN CHASE & CO COMMON 46625H100 6159331 324346 324346 318596 650 JOHNSON & JOHNSON COMMON 478160104 13146037 243085 243085 238585 400 KIMBERLY CLARK CORP COMMON 494368103 12604949 222545 222545 218345 400 MCDONALDS CORP COMMON 580135101 7626648 431860 431860 424600 760 MICROSOFT CORP COMMON 594918104 7071227 161665 161665 158765 400 MORGAN STANLEY COMMON 617446448 6653185 196375 196375 193175 PFIZER INC COMMON 717081103 6942310 239225 239225 234925 600 PHELPS DODGE CORP COMMON 717265102 991881 38700 38700 38700 PITNEY BOWES INC COMMON 724479100 8043262 263800 263800 259600 PROCTER & GAMBLE CO COMMON 742718109 750792 8400 8400 8400 QUALCOMM INC COMMON 747525103 8169167 295770 295770 290320 550 ROYAL DUTCH PETE CO COMMON 780257804 1389882 34600 34600 34600 SCHLUMBERGER LTD COMMON 806857108 7797573 202745 202745 199195 450 STAPLES INC COMMON 855030102 7642665 597550 597550 586850 1200 TXU CORP COMMON 873168108 11486934 275400 275400 270200 3M CO COMMON 88579Y101 12184126 110795 110795 108820 175 UNILEVER N V COMMON 904784709 12647096 212735 212735 209535 UNION PAC CORP COMMON 907818108 1260698 21785 21785 21785 VERIZON COMMUNICATIONS COMMON 92343V104 7318605 266713 266713 261833 480 WAL MART STORES INC COMMON 931142103 12928454 262560 262560 257410 450 WALGREEN CO COMMON 931422109 11287074 366940 366940 361340 INGERSOLL-RAND COMPANY L COMMON G4776G101 7750722 225050 225050 221050 400 REPORT TOTALS 437887270 16480828 16480828 16195918 21110