Instuitional Investor - Drexel Morgan & Co.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	At&T Inc.	T	6,075,040	$125,753,328	17.49%
2.	United Parcel Service Inc	UPS	913,465	$98,197,488	13.66%
3.	Johnson & Johnson	JNJ	216,207	$54,910,092	7.64%
4.	Jpmorgan Chase & Co	JPM	163,589	$53,547,587	7.45%
5.	International Business Machines Corp	IBM	139,735	$39,294,879	5.47%