Mr. Skilton has worked at several industrial companies including Philips Industries, which is a maker of components for the building and transportation industries.

(18,300,000) Philips Industries 11,500,000 -16.7 Pittston Co.

Philips Industries was a big percentage loser, dropping 2 3/8, to 15 5/8.

Blunt Ellis also recommends Philips Industries, of Dayton, Ohio.

Government lawyers said today that a former executive at Philips Industries avoided nearly $570,000 in personal losses by selling company stock while he had inside information.

And a $24-a-share, $672 million acquisition of Philips Industries, a manufacturer based in Dayton, Ohio, has been halted because of financing problems.

Philips Industries dropped 1 5/8, to 20 1/2.

Philips Industries announced it expects lower third-quarter earnings, casting a shadow over its planned buyout deal with a Merrill Lynch unit, analysts said.

Philips Industries posted a 3 3/4-point, or 23.2 percent, gain, to 17 1/4.

The Government accused a retired executive of Philips Industries of violating Federal insider trading laws.