Wall Street last week
The Wall Street Stock market declined last week, although it recouped some of its losses on Friday with a rally led by oil issues. The Dow Jones industrial average closed at 829.09 — trimming its loss for the week to 8.29.
Daily volumes were heavy. Analysts blamed profit taking and a watering down of enthusiasm for the drop. On Monday several large banks raised their prime lending rate from 8 to 8] per cent.
Closing prices on Friday of a selection of shares were:
Alcan, 273; Alcoa. 463; AH. Stores, 23g; Amax. 37; Amerada Hess, 323; Am. Motors. 4|; Armco., 293; Asarco. 164; A.R.C.0., 514; Bethlehem. 224; Boeing, 471; Boise Case.. 28; Burroughs. 674; Clev. Cliffs. 541; C. 8.5., 523; Colt. 563; Con. Oil, 294; Crane. 30: Cpras. 18g; Dome Mines, 69j; Dow. 25J; Engelhard. 26; Firestone, 144; Ford. 50; Freeport. 21g; Gen. Dyn., 554; G.E.C.. 503; G.M.C.. 63J: Gen. Tire, 253; Getty Oil. 169; Goodyear. 17J; Greyhound. 134; Grumman, 193: Gulf Oil, 235; Gulf Res.. 104; Heinz, 38; Homestake. 33J; Hudson Bay, 143; 1.8. M., 2625; 1.H., 303; Inco, 164; Johns Manu.. 313; J. and J., 743; Kaiser. 338; Kennecott, 233; Kerr McGee, 45J: Lockheed. 25g; Louisiana Land, 22J: Lukens, 31’,; Lykes. 63; Martin Marietta. 284; Merrill Lynch, 194; Mobil. 673; N.C.R. 514; Newmont, 193; Occ. Oil, 243; Phelps Dodge. 22; Phillips Pet.. 333; Pittson. 233; Proler, 234; Pullman. 303; Rep. Steel, 244; Reynolds. 314; Royal Dutch, 574; St Joe Min.. 27: Seaboard, 3OS: Shell Oil 33g: Shell Transport. 413; Socal 432; Soind. 504; Sohio 691; Exxon. 484: Texaco. 253: Texas Gulf. 18S; T.W.A.. 205; Union Oil. 493; Union Carbide. 39J; U.S. Steel, 27; Westinghouse. 20J; Wwths. 193.
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Press, 8 May 1978, Page 18
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282Wall Street last week Press, 8 May 1978, Page 18
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