WALL STREET LAST WEEK

Press, Volume CXII, Issue 32958, 3 July 1972, Page 17

WALL STREET LAST WEEK

Prices fall in broad range Wall Street staged a small recovery in share prices on Friday, although investors moved to the sideline before the long weekend. Investors appeared to be waiting for more solid developments in the international monetary situation. The dollar was under pressure all week.

The market had been in a deep slump since late the week before, when Britain announced it was floating the pound. Brokers said the resultant uncertainty in the international monetary situation had come at a time of year when the market also was affected by vacations and lethargy. Trading was slow, and selling was light, with low turnovers every day of the week.

Investors were generally not interested in buying in the wake of Britain’s decision to float the pound, a development which caused uncertainty, and put pressure on the dollar. Closing prices on Friday of some selected stocks were:

Alcan, 20; Alcoa, 488; Amerada Hess, 498; Amax, 30; Am. Smelting, 19<; Anaconda, 18; Atl. Richfield, 558: Cont. Oil, 268; Dome Mines, 788; Dow, 901; Freeport, 198; G M., 748; Greyhound, 18J; Gulf Oil, 24J; Homestake, 283; I B M., 392; Inco, 318; Kaiser, 208; Kennecott, 228: Kerr McGee, 522; Louisiana Land, 443; Martin Marietta, 193: Mobil, 561; Newmont, 28J; Phelps Dodge, 378; Reynolds, 168; Royal Dutch, 371; St Joseph, 28; Shell Oil. 453; Shell Transport, 311 (bid); SO. Cal., 601; SO Infl., 698; SO. N.J., 748; S.O. Ohio, 683, Texaco, 328; Texas Gulf, 178; T.W.A., 528; Union Oil Cal 298; Utah, 851; W’wths, 37: Am. Sth Afr. Inv. (foreign), 498.

AN ADVERTISEMENT In "The Press" CLASSIFIED COLUMNS will soon convert those no longer used articles Into readv cash. For quick simple and easy selling try the Classifieds. DIAL 68-939 (10 direct Unes)