European Stars and Stripes (Newspaper) - June 05, 1977, Darmstadt, Hesse Page 16 the stars and stripes sunday june 5, 1977 Mart rebounds to make solid gains by Frank w.slus8ernew York up the Stock Market rebounded last week from a Umno nth Lowith a solid Post Holiday gain As favourable economic reports and signs that inflation i abating helped investor sentiment. The Dow Jones Industrial average which plunged 31.63 Points the previous week in its second worst loss of the year rebounded to gain 13.40 Points to 912.23. Much of it came in a 9.0b-Polnt jump Friday. Tuesday s close the Market was close monday for the memorial Day Holiday of 896.66 was the Dow s lowest finish since-890.82 on Jan. 8,1978. The Dow and other averages were helped Friday by a published report that Morgan Stanley & co., a major Wall Street brokerage had recommended an invest ment strategy of Long neglected and selected growth stocks. The nose common Stock Index Rose 0.68to 53.36 and Standard & poor s so Stock Index containing some Over the counter issues climbed 1.42 to 97.69, advances topped declines 1,079 to 685, among the 2,-074 issues crossing the composite tape. Big Board volume during the four Day week totalled 75.072,640 shares compared with 93.415.170 the previous week and m,-851,520 during the same week year ago. Composite volume of nose Issue traded on All exchanges and Over the coun Ter totalled 88,073,930 shares compare with 109,605,890 the previous week. The May wholesale Price Index Rose Only 0.4 per cent the smallest Rise in nine months. It had risen at a 13.4 per cent rate the two previous months. Also unemployment dipped to 6.9 per cent from per cent a 30-month Low. Earlier in the week the government re ported it april Index of leading indicators Rose 0.5 per cent following 1.9 and hike the two previous months. Those figures could indicate the Economy might slowdown in the second half of the year. But economists thought the Outlook was Century Fox and its movie Star wars stole the investment show last week. The Stock was the most Active nose listed Issue climbing 4vi to 19% on210,700 shares. The movie is setting Box office records which is one reason general Cinema which has the film booked in 80 of its Thea ters gained 3% to 24%. Caesar s world which reported sharply higher earnings gained 1 to 8tt in Active trading because the company announced twill lease property in Atlantic City n.j., where it Hopes to open a Casino gambling operation. Dow chemical was the second mos Active nose listed Issue off h to 34% on 872,100 shares. General motors followed up i to 67%. Pm had Strong late May Smith Kline lost 2 to 35 in Active trading because of investor concern Over reports that tests showed the firm s Zagame peptic ulcer drug caused tutors in some pointed out however that Canada licensed the drug knowing with attention becoming n"1 i clamors ism climbed 5% to 250%. Texas instruments 3% to 87%, Eastman kodak3hto59%andschlumberger2mito64%. On the american Stock Exchange the Market Index Rose 0.77 to 113.28 and the average Price of a share gained two topped declines. 419 to 383, among the 1,088 issues traded and volume totalled 9,241,410 shares. Investors guide Mutual funds prices new York iupi1 Fotto Elnois a list of bid and asked prices a Mutual funds As quoted by the Nash inc june Friday x 11977 Acorn cd 15.46 inv 9.46 . Aetna cd 7,15 7.11aetna in 13.9314.13 Atu Ture 143 .age cd 151 544 Allstate 1.21 .Alpha cd h.19n.l. Am birth 942 10.73 am qty 4.95 s.41amor funds Troua am Bol 794 141amcap s.43 s.93 am Mut 9.1310.74bnd a 111716.51 Cap f a 6.12 649gth am 4.50 4.03inc am 16.3717.19 inv am 137014.97nw prs 16.1117.63 Wash m 641 7joamor Gen l group a Gabd 940 9.14a a car 4.02 4.19 a in inc 4.5s 7.16 a g Ven 11.07 13.10eqty or 6.40 6.99 and am 6.53 7.13provt in 3.99 4jo am Grid 542 144am Insun 3.0s s.s2 am most 5.53 . 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Banks will fall that there will be riots by starving people. What can a senior cd Tun whose assets Are mainly Cash in Banks and who cannot take chances do about these per fictions a. Ignore pm because 1 you Don t have to believe them and 2 you could to anything about them anyway even if they should come True which i hasten Toad doubt. Any evaluation of these doom an gloom predictions it seems to me should proceed from the premise that although you May be Able to catch More flies with sugar than with vinegar it has been pretty Well established that you can make More Money Selling gloom than cheer. 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Because we can reduce or even Stop inflation anytime the people of this country Are ready to admit to themselves that there Isno free lunch that we can t get something for nothing even if it comes from govern men that we must pay for what we want As a nation by reducing spending in creasing taxation and by More equitably applying taxing procedures so As to collect billions now evading the tax collector. Inflation is primarily the result of in creasing the National Money Supply so that government can spend More than it take sin. If you want to Stop it you must con Vince your legislators that they should order anything they can t or won t pay seems to me that when one discusses inflation its inevitability and the toll Itcan take one must distinguish Between the economic strength of the world s most resourceful nation and a country impoverished by a ruinous War As was Germany in 20s or a Small nation which has t the internal resources to make end meet or balance its Commerce with the rest of the world. In this country inflation its very existence and the amount we will tolerate rests in the hands of government and people. As to Gold it is As futile to debate its role in economics As to argue religion. As a monetary Standard it works in those coun tries which respect and live within their budget. In a nation where citizens and government alike consider it Square to bal Ance budgets where As a matter of fact the same Type of sensationalist who sell gloom and doom also Tell you How tomake a teen per cent on your Money by using credit cards and kiting Bank deposits the Gold Standard has never been a deterrent to can Only Point out that Gold prices in recent history fell out of bed during our nation s most serious inflation. I Don t know where Gold prices will go in the year ahead. And even if we could know How would that knowledge fit into your own personal financial program you Are living on Bank interest and social you afford to take $5,000 out of income producing savings and put it into non productive Bullion for even a year and if Banks fail and there Are riots in the streets what will you do with your Gold in your old age will you buy a Rifle and sit in you cellar guarding a sack of Gold Between your Knees will you hire a dogsled and fleeing the wolves Mush into Northern most Canada or smuggle your Gold onto an air plane and flee to Eastern Transylvania or. Shulsky welcomes written questions but he will be Able to provide an Swers Only through the lists of growth and dividend stocks please include a Seu addressed stamped envelope no foreign Stamps please. Address your requests to Sam Shulsky car of the Start and stripes Apo 09175. 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