Wall Street declines

Press, 29 March 1982, Page 22

Wall Street declines

Stock prices on Wall Street declined across the board on Friday, causing the issues to lose some of their recent gains.

The Dow Jones average of 30 industrials closed 9.71 points down at 817.92, for a net gain on the week of 12.27 points.

As usual on Fridays, the focus of attention was on the Federal Reserve Board’s weekly report on the money supply which was due out after the close of trading. Analysts’ projections for the figures called for an increase of SUSSOO million. Brokers said that traders were anticipating a surge in the money supply during April that would presumably

work against the chances for any easing of credit by the Federal Reserve.

The stockmarket began the week with its biggest gain in more than a month, but analysts said that the rally was mainly because of a combination of technical factors rather than any change in economic news.

On Tuesday, the market opened firmly on a record volume, but interest subsided late in the day, and the mixed trend was maintained for the rest of the week.

Closing prices on Friday of a selection of stocks were: Alcan, 18%; Alcoa, 24%; Amerada Hess, 17%; ABC, 32; Amax, 27 v s ; AMExp. 47%; AmMotor, 3%; ATT, 56%; Armco, 19%; Asarco, 20%; ARCo. 37%; Bethlehem, 21%: Boeing. 18%; Borden, 32%; Burroughs. 33%; Chrysler, 5; Citicorp. 26%; Coca Cola, 33%; Colgate, 18; CBS. 40%; Cleve Cliffs, 22%; Continental, 28%; Crane. 23%; Dart Kraft,

50%; DigitalEq. 74%; Disney. 51%; Dome, 11%; Dow Chem, 23%; DuPont. 33%; East Kodak. 70%; Engelhard. 20%; Exxon. 28%; Firestone, 10%; Fluor, 19%;

FordMtr, 20%; Freeport, 16%; GenDyn, 24%: GMC, 40%; GenTire, 19%; Getty Oil, 44%; Goodyear, 21%; Greyhound, 14%; Grumman, 21%; Gulf Oil, 32%; Haliburton, 33%; Heinz, 29; Homestake, 23%; Honeywell, 66; IBM, 59; IH, 5%; Inco, 12%; ITT, 25; Manville. 14%; JJohnson, 36%; Kaiser Alum, 14%: Kmart, 18; Lockheed, 47%; McDonalds. 66; McDonDoug, 34%; MerrillLynch, 25%; MGM. 6%; MMM, 54%: Mobil. 21%; Monsanto. 64%; NCR, 42; Newmont, 33%; Occidental, 20%: . PFizer, 51%; Phelps Dodge, 23%; Phil Pet, 28%: Polaroid. 19%; RCA, 20%; Raytheon. 32%; Reynolds Metals, 19%; Royal Dutch. 32; Seagrams, 50%; Searsßoe, 18%; Sedco, 30; Shell Oil, 36; Shell Trans, 26%; SperryCp, 28%; Socal, 31%; Soind, 37%; Sohio, 32%; Texaco, 29%; Texaslnst, 78%; Union Oil, 30; L’nionCarb. 46%; USSteel, 23%; Westinghouse. 23%; Woolworth. 17%; Xerox. 37%.