Ramsay, Stattman, Vela & Price 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AT&T Inc.	COM	00206R102	4,710	109,003	SH		SOLE		64,882	0	44,121
Abbott Laboratories	COM	002824100	5,387	137,045	SH		SOLE		64,582	0	72,463
Alphabet Inc. Cl. C	COM	02079k107	473	683	SH		SOLE		122	0	561
Apache Corp.	COM	037411105	262	4,704	SH		SOLE		0	0	4,704
Apple Inc.	COM	037833100	5,025	52,563	SH		SOLE		23,457	0	29,106
Automatic Data Proc.	COM	053015103	5,256	57,210	SH		SOLE		24,584	0	32,626
Becton Dickinson	COM	075887109	7,833	46,187	SH		SOLE		21,065	0	25,122
Berkshire Hathaway Cl.B	COM	084670702	7,525	51,975	SH		SOLE		23,280	0	28,695
Carnival Corp.	COM	143658300	579	13,100	SH		SOLE		0	0	13,100
Cerner Corp.	COM	156782104	205	3,500	SH		SOLE		0	0	3,500
Chevron Corp.	COM	166764100	1,656	15,799	SH		SOLE		9,530	0	6,269
Coca-Cola Co.	COM	191216100	7,844	173,033	SH		SOLE		81,899	0	91,134
Colgate-Palmolive Co.	COM	194162103	7,284	99,510	SH		SOLE		42,789	0	56,721
Danaher Corp.	COM	235851102	7,623	75,473	SH		SOLE		29,420	0	46,053
Deere & Co.	COM	244199105	426	5,261	SH		SOLE		0	0	5,261
Diageo plc ADR	COM	25243q205	6,264	55,493	SH		SOLE		25,327	0	30,166
Disney (Walt) Co.	COM	254687106	5,205	53,206	SH		SOLE		22,825	0	30,381
Emerson Electric Co.	COM	291011104	4,618	88,543	SH		SOLE		44,783	0	43,760
Exxon Mobil Corp.	COM	30231G102	5,334	56,898	SH		SOLE		27,550	0	29,348
Vanguard FTSE Devel.Mkts. ETF	COM	921943858	558	15,770	SH		SOLE		12,075	0	3,695
Vanguard FTSE Emerg.Mkts. ETF	COM	922042858	753	21,377	SH		SOLE		4,010	0	17,367
FedEx Corp.	COM	31428x106	5,176	34,100	SH		SOLE		15,627	0	18,473
Franklin Resources	COM	354613101	560	16,796	SH		SOLE		0	0	16,796
General Electric Co.	COM	369604103	651	20,678	SH		SOLE		16,028	0	4,650
General Mills Inc.	COM	370334104	378	5,300	SH		SOLE		300	0	5,000
GlaxoSmithKline PLC ADR	COM	37733w105	1,066	24,591	SH		SOLE		0	0	24,591
Illinois Tool Works	COM	452308109	6,741	64,720	SH		SOLE		28,743	0	35,977
Intel Corp.	COM	458140100	890	27,120	SH		SOLE		4,534	0	22,586
International Business Machine	COM	459200101	359	2,364	SH		SOLE		280	0	2,084
J.M. Smucker Co.	COM	832696405	229	1,500	SH		SOLE		0	0	1,500
JPMorgan Chase	COM	46625h100	277	4,465	SH		SOLE		3,610	0	855
Johnson & Johnson	COM	478160104	8,035	66,241	SH		SOLE		35,387	0	30,854
MSCI Asia ex-Japan iShares	COM	464288182	380	6,950	SH		SOLE		6,950	0	0
MSCI EAFE iShares	COM	464287465	5,476	98,102	SH		SOLE		51,325	0	46,777
MSCI Emerging Markets iShares	COM	464287234	1,830	53,274	SH		SOLE		33,217	0	20,057
Microsoft	COM	594918104	6,043	118,090	SH		SOLE		55,305	0	62,785
3M Company	COM	88579y101	7,290	41,626	SH		SOLE		18,645	0	22,981
Nestle S.A. ADR	COM	641069406	7,441	96,248	SH		SOLE		44,849	0	51,399
Nike, Inc. Cl.B	COM	654106103	6,166	111,695	SH		SOLE		41,730	0	69,965
Oracle Corp.	COM	68389x105	666	16,266	SH		SOLE		655	0	15,611
PepsiCo, Inc.	COM	713448108	7,716	72,831	SH		SOLE		34,264	0	38,567
Philip Morris Int'l.	COM	718172109	257	2,525	SH		SOLE		2,025	0	500
PowerShares QQQ	COM	73935a104	472	4,390	SH		SOLE		1,400	0	2,990
Procter & Gamble Co.	COM	742718109	7,323	86,490	SH		SOLE		39,323	0	47,167
Qualcomm Inc.	COM	747525103	424	7,922	SH		SOLE		0	0	7,922
Russell 2000 iShares	COM	464287655	6,364	55,353	SH		SOLE		23,475	0	31,878
S&P Core Mid-Cap iShares	COM	464287507	5,156	34,514	SH		SOLE		18,295	0	16,219
SPDR S&P 500	COM	78462f103	1,869	8,923	SH		SOLE		2,605	0	6,318
Select SPDR-Materials	COM	81369y100	449	9,700	SH		SOLE		9,700	0	0
Spectranetics	COM	84760c107	544	29,072	SH		SOLE		0	0	29,072
Stryker Corp.	COM	863667101	5,963	49,758	SH		SOLE		21,391	0	28,367
T J X Cos. Inc.	COM	872540109	422	5,466	SH		SOLE		0	0	5,466
Target Corp.	COM	87612e106	257	3,685	SH		SOLE		1,140	0	2,545
United Technologies	COM	913017109	5,982	58,330	SH		SOLE		25,381	0	32,949
Vanguard Info. Technology ETF	COM	92204a702	696	6,500	SH		SOLE		0	0	6,500
Vanguard Mid-Cap ETF	COM	922908629	989	8,000	SH		SOLE		0	0	8,000
Wal-Mart Stores	COM	931142103	4,699	64,356	SH		SOLE		32,012	0	32,344
Wells Fargo & Co.	COM	949746101	4,723	99,786	SH		SOLE		47,056	0	52,730
Zimmer Biomet	COM	98956p102	3,711	30,830	SH		SOLE		12,990	0	17,840