Tar heel stock watch.

• Position: Money Matters - Illustration

Expensive stocks Highest price-earnings ratios among North Carolina stocks P/E 09/26/03 52-week Company ratio* price range MedCath 60.8 $10.30 $3.15-13.60 Krispy Kreme Doughnuts 52.6 37.90 26.42-49.74 Highwoods Properties 43.0 23.32 18.57-24.10 Gateway Financial Holdings 42.3 10.99 7.00-11.35 Wellco Enterprises 41.9 10.89 8.55-13.50 Cree 40.0 19.21 8.99-26.88 Nucor 33.1 45.59 35.03-52.55 Fountain Powerboat Industries 32.5 3.34 2.09-4.80 Tanger Factory Outlet Centers 31.5 35.61 24.34-36.82 Family Dollar Stores 29.1 40.86 23.75-42.00 * Based on earnings per share in the last four quarters Cheap stocks Lowest...