Wall Street

Press, 28 May 1984, Page 26

Wall Street

Wall Street share prices declined over a broad front last week, in moderately active trading. A small breather on Friday, because of relief on the banking front, caused a minor recovery on Friday. A White House spokesman said that the U.S. Treasury had informed President Reagan that rumours of trouble at New York’s Manufacturers Hanover Trust and some other banks were unfounded. Bank stocks, which were broadly' lower on Thursday, stabilised on Friday. The Dow Jones average of 30 industrials rose 3.67 to

close at 1107.10, reducing its loss for the week to 26.69 points. Analysts said that rising interest rates continued as the market’s major problem. With high returns available in interest-bearing investments like treasury bills, they noted, investors generally are apathetic about stocks. Trading has been generally sluggish in the stock market lately, as prices have fallen. The market decline was also fuelled by tensions in the Middle East and the banking rumours. Alcan, 27%; Alcoa, 33%; Amerad Hes, 30%; ABC, 56%; Am Express, 27%; Am Motors 4%; ATT, 15%; Armco, 16%; Asarco, 27%; Atl Rich, 48%; Avco, 28; Beth Stl, 20%; Boeing, 37%; Borden, 53%; Burroughs, 48%; Chrysler, 22%; Citicorp 29%; Coca Cola, 55; Colgate, 22; CBS, 69%; Conti Grp, 35%; Crane, 34%; Dar Krft, 74; Digital Eq, 85%; Disney, 65%; Dome Mines, 12%; Dow, 29%; Du Pont, 47; East Kodak, 64%; Englhrd, 27%; Exxon, 40; Firestone, 16%; Fluor, 18%; FMC, 45%; Ford, 36%; Frpt McMor, 21; Gen Dynam, 47; Gen Elect, 51%; Gen Motors, 62%; Goodyear, 23%; Greyhound, 22%; Grumman, 22%; Gulf Oil, 79%; Gulf Res, 21; Haliburton, 37; Homestake, 29%; Honeywell, 47%; IBM, 106%; ICN Pharm, 6%; Inti Harv, 6%; Inco, 10%; ITT, 34; Manville, 9%; Jhsn and Jhsn, 32%; Kaiser Alu, 14%; KMart, 27%; Lockheed, 34%; Martin-mar, 33%; McDonald’s, 63; McDon Doug, 52; MGM, 13%; MMM, 74; Mobil, 28; Monsanto, 89%; NCR, 25%; Newm Min, 44%; Pfizer, 31%; Phel Dodge, 19%; Philip Mor, 64; Phil Pet, 39%; Polaroid, 27%; RCA, 32; Raytheon, 35%; Reyn Metal, 27%; Royl D Pet, 51%; Seagrams, 33%; Sears Roe, 31%; SheU OU, 58%; Shell Tr, 37%; Sperry Cp, 37%; St OU Cal, 36%; St OU Ind, 57%; S OU Ohio, 47%; Texaco, 36%; Texas Inst, 135; Texas Ut, 22%; Union Carb, 54; US Steel, 26%; Westg Ele, 40%; Wwths, 33%; Xerox, 37%; Schlumberger, 48; Sedco, 38%; Merryl Lynch, 22%; Occidental, 3?; Heinz, 32%; Clevel’d Cliff, 22; Inter-North, 40; Am Airlines, 23%.