WALL STREET LAST WEEK

Press, Volume CXIV, Issue 33664, 14 October 1974, Page 22

WALL STREET LAST WEEK

Largest weekly rally ever i The Wall Street stock ■ market made a good recovj ery last week. In spite of I some profit taking on sevI era! days, the Dow Jones I average closed on Friday at 658.17 for a gain of 73.61 points — its largest weekly gain ever. The last time the market produced a surge of such proportions was in May, 1970, when the Dow bounced off the bottom of the 196970 bear market.

The market was spurred mainly by signs of an easing in credit, and hopes that President Ford’s new economic proposals would ease the country’s economic troubles. Bargain hunters also played their part. Closing prices on Friday of some selected stocks were: Alcan, 23J; Alcoa. 352; Amerada Hess, 17J; Ascarco, 17J; Anaconda, 17; Arco, 861; Burroughs, 73J; Coni. Oil, 37g; Dome Mines, 49; Dow, 59; Engelhard, 152; Firestone, 141; Ford, 36; Freeport, 192; G.M., 36; Greyhound, 113; Gulf Oil, 18; Homestake, 412; Hudson Bay, 171; 1.8. M.. 178; 1.H., 21; Int. Mug., 52; Inco, 242, and 35.'; Kaiser Aluminium, 172; Kennecott, 33J; Kerr McGee, 61; Louisiana Land 21}: Martin Marietta, 152; Mobil. 361; N.C.R., 21; ' Newmont. 21J; Phelps Dodge, 31; 1 Phillips Pet., 381; Reynolds, 181; Roval Dutch, 232: St Joseph. 342; Shell Oil, 37J; Shell Transport, 13’,; Socal, 232; Soind. 82 J; Sohio, 52; Exxon, 652; Texaco, 22a;' Texas Gulf, 26: T.W.A., 7g: Union p Oil Cal., 331; Utah, 432; Wwths, 111.