WALL STREET LAST WEEK

Press, Volume CXIV, Issue 33426, 7 January 1974, Page 7

WALL STREET LAST WEEK

Market steady | after gains The recovery on the New York stock market slowed on Friday, and the industrials! and transport indices both showed small losses. Turnover was again more than 20 million shares. Brokers said one reason the market picked up was a report that Israel was ready to withdraw its troops far from the Suez Canal provided certain conditions were met However, stocks with high price-earnings ratios came under heavy selling-pressure, and two likely victims of the oil crisis, the Disney World and McDonald’s Corporation, suffered steep losses. International Business Machines also dropped sharply after Telex Corporation asked a Federal Court to hold it in contempt for violating a court order. Closing prices on Friday of some selected stocks were:— Alcan. 40?; Alcoa. 771; Amerada. 38 ; Amax. 32J; Am. Smelting, 24,; Anaconda, 28?; Atlantic Richfield, 111,: Cont. Oil. 571; Dome Mines, 162;: Dow Chem. 571; Engelhard Min.. 19: Ford. 40;; Freeport Min., 29: G.M., 47: Greyhound. 15?; Gulf Oil, 25; Homestake. 80: Hudson Bay. 28?; IBM 2301; Inco. 35?; Kaiser. 22:; Kennecott, 47? Kerr McGee. 891; Louisiana Land. 541: Martin Marietta. 15: Mobil. 55?; Newrnont Min.. 341; Phelps Dodge. 49;; Phillips Pet.. 70;; Reynolds. 21; Roval Dutch. 351: St Joseph. 391: Shell Oil. 71i; Shell Trans.. 23i; St Oil Cal . 36; St. Oil Ind . 105;.; St Oil Ohio, 841; Exxon. 97,; Texaco, 311; Texas Gulf Inc.. 34; T W.A . 16?; Union Oil Cal.. 55.; Utah Con. 51; Woolworths. 18J.