WALL STREET LAST WEEK
Prices rally after dip
Share prices on the Wall Street stock market closed the week slightly firmer on Friday as compared with the week before. After a sharp fall on Tuesday prices recovered, and the Dow Jones industrial share index closed about 1.5 points higher at 850.13. The loss on Tuesday — the market’s worst in six months — came after news of huge lay-offs of workers in the car industry, and mounting tension in the Middle East. But, although prices fluctuated sharply, buyers gained the upper hand later in the week. When the Government reported that business inventories declined a record $1450 million in March, Wall Street took the news, as bullish, since many feel businesses must rid themselves of excess stocks before a general economic rebound can begin. Prices rose sharply on very high volume. Closing prices on Friday of a selection of stocks were:— Alcan. 227; Alcoa. 48; Amerada Hess, 167; Asarco. 17g; Anaconda. 16|; Arco, 88A; Burroughs. 103-2; Cont. Oil. 567; Dome Mines, 477; Dow. 87; Engelhard. 192; Firestone. 182; Ford, 362; Freeport, 262: G.M.C. .442; Greyhound, 111; Gulf Oil, 197; Homestake, 477; Hudson Bav, 18; 1.8 M.. 2141; 1.H., 29; Mt. Mng.. B.’; ‘inco, 272; J', and J.. 967; Kaiser, 31; Kennecott, 39; Kerr McGee. 85; Louisiana Land. 23; Martin Marietta. 16; Mobil. 397: N.C.R., 342: Newmont, 252: Occ. Oil. 167; Phelps Dodge. 40; Phillips Pet., 51';? Reynolds. 237; Royal Dutch, 361; St Joe Min.. 592; Shell Oil. 442;| Shell Transport, 277; Socal. 29; | Soind.. 417; Sohio, 617: Exxon, 822; Texaco, 242: Texas Gulf, 32g; T.W.A.. 10; Union Oil Cal..: 372; Utah. 672; Wwths, 162-
WALL STREET LAST WEEK
Press, Issue 33840, 12 May 1975, Page 19
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