WALL STREET LAST WEEK

Press, Volume CXIII, Issue 33148, 12 February 1973, Page 16

WALL STREET LAST WEEK

See-saw trend continues Share prices on Wall Street repeated their see-saw trend last week, but closed the week only slightly lower than the opening. Factors affecting the market were the beating the American dollar was taking abroad—with investors wondering whether West Germany would float the mark—and uncertainty about Phase Three, interest rates and inflation. “It’s a drifting market, and I expect it will be rudderless over the next several weeks,” said one analyst. “It’s a little too late to sell and a little tot) early to buy.” The Peru Central Railroad strike added to investor woes on Thursday, but the settlement on Friday saw a good market advance. And that just about sums the market up: it does not take much bad news to push the market down, but whenever it looks oversold bargain hunters are ready to move in. Closing prices on Friday of some selected stocks were: Alcan, 25J; Alcoa., 51i; Amerada Hess. 433; Amax., 332; Asarco, 20J; Anaconda. 23; Atl. Richfield, 76J; Cont. Oil, 411; Dome Mines, 773; Dow, 102 J; i Engelhard, 21j; Ford, 70; Freeport, 27; G.M., 73j; Greyhound, 163; Gulf Oil. 25J; Homestake. ' 294; Hudson Bay, 23J; 1.8. M., ; 446; Inco.. 322; Kaiser, 14£; Kennecott, 26 J; Kerr McGee, 72; (Louisiana Land, 391; Martin Marietta. 17J; Mobil, 71J; Newmont, 26; Phelps Dodge, 39? x.d.; Phillips Pet., 422; Reynolds, 132; Royal Dutch, 38J; St Joseph, 272; Shell Oil, 52j; Shell Transport, 325: Std Oil Cal., 84J; Std Oil Ind., 85,;; Exxon, 931; Std Oil Ohio, 99; Texaco, 39J; Texas Gulf. 238; T.W.A., 39J; Utah. 872; W’wths, 25J; Am. Sth Afr. Inv. '(foreign), 45.