NEW YORK MARKET

Press, Volume CXII, Issue 32994, 14 August 1972, Page 18

NEW YORK MARKET

Stock market prices climbed sharply on Wall Street on Friday, pushing the Dow Jones industrial average to its highest level in almost two months and a half. The blue-chip Dow average closed up 11.29 points at 964.18, the highest level since May 30 when it stood at 971.18. Advances out-numbered declines on the New York exchange by nine to five. Analysts said that the market’s ability to hold its ground the last four sessions despite profit-taking pressure gave investors some encouragement. The stock market showed mainly mild gains in modelate trading early in the week. Analysts blamed the stagnation on a lack of any startling news developments and on profit-taking after rises in the previous week. The closing prices of some selected stocks on Friday were:

Alcan, 221; Alcoa, 55J; Amerada Hess, 47; Amax, 29g; Am. Smelting, 18J; Anaconda, 173; Atlantic Richfield, 573; Cont. Oil, 29; Dome Mines, 768; Dow, 951; Engelhard, 29J; Freeport, 221; G.M., 77J x.d.; Greyhound, 173; Gulf OU, 231; Homestake, 261; Hudson Bay, 201; 1.8. M., 4251; Inco, 321; Kaiser, 201; Kennecott, 21i; Kerr McGee, 562; Louisiana Land, 43J; Martin Marietta, 201; MobU, 638; Newmont, 281; Phelps Dodge, 362; Phillips Pet., 321; Reynolds, 163; Royal Dutch, 381; St Joseph’s, 273; Shell, 45J; Shell Trans., 341; Std Oil Cal., 638; Std Oil Ind., 731; Std DU N.J., 773; Std Oil Ohio, 70; Texaco, 331; Texas Gulf, 168; T.W.A., 558; Union Oil Cal., 318; Utah, 72?; Woolworth, 343; Am. Sth Afr. Inv. (foreign), 471 bld.