European Stars And Stripes (Newspaper) - October 9, 1977, Darmstadt, Hesse Page 16 the stars and stripes sunday october 9, 1977 Market suffers loss when rally fails new York up the Stock Market unable to maintain a rally attempt suffered an irregular loss this week amid in Vestor fears that rising interest rates would retard the Economy s growth. Trad ing was moderate. The Dow Jones Industrial average which gained 7.97 Points last week lost 6.76 Points to 840.35. It fell 9.% Points tuesday in a Surpri singly Sharp investor reaction to Wells Fargo Bank s decision to raise its prime rate to 7vi per cent. That loss snapped a three session 17.64 Point winning Streak. On a broader basis than the Dow the new York Stock Exchange common Stock Index dropped 0.22 to 52.59 and Standard & poor s 500-Stock Index containing some Over the counter issues shed 0.56 to 95.97. Advances edged declines 962 to 858, among the 2,093 issues crossing the Compo site tape. Big Board volume totalled 93,370,650 shares compared with 97,603,840 last week and 89.241,461 traded during the same week a year ago. Composite volume of nose issues listed on All . Exchanges and Over the counter totalled 108,424,340 shares compared with 112,406,680 last week. Many observers were disappointed by the week s results because they thought the Market was overdue for a rally. The Dow average was off More than 160 Points for the year and some Blue Chip issues were attractively priced. But the rally attempt was shattered by Wells Fargo s rate hike which put the prime at its highest level since november 1975. The Federal Reserve Board jolted investors by tightening credit even though it re ported declines in the nation s Basic Money Supply of $1.2 billion and $1.1 billion the past two weeks. The Supply s Long term growth rate still exceeded the fed s 5 per cent target. Tight Money has held Down industrialists spending on plants and equipment. The capital spending picture for 1978 is not Mutual fund prices new York up following is a list of bid and asked prices on Mutual funds As quoted by the Nash inc. Friday october 7, 1977 bid ask Acorn cd 15.56 . 9.71 . 7.28 7.96 12.97 14.17 9.44 . 5.66 5.78 8.60 . 10.45 . 9.72 10.62 4.86 5.31 Amer funds group am bal 8.01 8.75 am Cap am Mut and a cop f a Goth am inc am i c a new prs Wash m adv inv Aetna cd Aetna in future age cd Allstate Alpha cd am birth am qty 5.89 6.44 9.72 10.62 14.88 16.26 6.60 7.21 5.07 5.54 15.71 17.17 13.59 14.85 15.46 16.90 6.39 6.98 Amer Gen i group a Gabd 9.03 9.87 a a car a in inc a g Ven qty grand am prove in am Goth am Insun growth income Spectra and inv a Natl Addax f axe Houghton fund b x7.58 income Stock blk Goth bobs inc bobs inv bean i Beacon can cd div shr income Nowd by Ven cd fund cd inc Cap Prev cent she Chat inv Chart Fromm of comp cd Concord cons inv in san go cont in country c Dolly inc a bldg bid Ash z z 12.59 . 9.37 9.87 5.71 . 6.15 . 11.23 12.14 1.00 . 7.45 . Delaware group Decatur 12.0013.11 9.24 9.68 10.80 11.80 4.83 5.28 30.23 . 4.10 4.48 21.52 . 15.49 . Her luge hid Sec hold to Horace ind fam in invest inv guld inv indic inv bos bid ask 1.51 e 11.88 z 1.00 . 14.20 15.35 2.92 z 9.55 10.44 8.59 . 1,36 . 9.35 10.08 bid ask Mutual of Omaha Amer 11.6412.19 growth 3.92 4.26 9.42 10.24 15.37 16.7 income tax for Mut hrs Nat indu 29.95 . 10.61 . Delch f Del f Delta t Devegh direct up Dodg bal Dodge a or Burh 9.44 . 3.99 4.36 6.46 7.06 12.95 14.15 6.48 7.08 6.38 6.97 3.91 4.22 5.64 6.08 5.20 5.68 am invest 5.69 . A in inc 12.03 . Ant or 2.99 3.27 Anchor group daily in 1.09 . 6.33 6.82 7.37 7.95 4.30 4.64 6.49 7.00 9.88 10.65 8.28 9.05 8.24 5.03 5.47 5.65 6.17 10.68 11.68 1.77 . 9.07 . 8.61 . 9.25 . Dreyfus group dry cd 11.81 12.91 dry la 16.1017.60 dry la 9.98 . Numb 9 5.56 . Up inc 7.27 . Tax be 16.04 . 3rd cent 12.88 . Eagle or 10.68 11.67 Eaton & Howard Bain cd x7.92 8.54 fours x7.87 . Goth f 8.89 9.58 income x6.08 6.56 spell f 6.41 6.91 Stock cd x8.71 9.39 Edle pc 17.48 . Edson go 8.93 . Egret cd 10.47 11.38 elfin try 14.34 z fal fld 9.13 9.92 Federated group a Lead 7.82 7.94 Empire 18.72 z 4th pm 17.75 z opt inc 13.49 14.74 tax for 13.42 . Fidelity group and Cut 8.78 . 8.16 8.92 9.90 . 1.00 . 7.96 z 15.41 . 15.54 16.98 23.16 z 10.65 . 10.30 11.26 4.80 5.25 10.37 . 20.86 22.80 investors counsel Cap am 8.65 9.30 capt so 6.08 6.54 investor group ids and 5.83 6.04 ids Goth ids and ids pro ids tax Mutual Stock select Var pay inv Resh Isi group growth income test it test Shistel and Ivy fund j p Goth Janus cd Johnstn John Hancock Bonc 8.79 9.55 and cd 19.4821.17 growth 5.31 5.77 Kemper funds income 10.8211.51 growth 7.05 7.70 Man my 1.00 . 10.88 11.42 13.44 14.69 10.65 11.64 7.09 7.75 5.57 f 10.4011.37 mom Etna no l secs Mit 9.5910.34 Mig 8.38 9.04 Mio 14.4215.55 mfg 12.2613.22 Mcd 13.6714.74 mfg 15.6316.85 mob f 9.7910.28 Mather 13.56 . Merrill Lynch Bajc i 9.52 9.92 coat cd 12.6813.21 1.00 . 5.17 5.65 1.00 . 8.83 9m 13.43 . 8.92 9.75 conver equity Georg growth income invest option tax sex Vista f voyage to Lbw Retery f Revere f Safe Seq Safe co g St i Cap Sipicth 11.3912.45 10.08 11.02 12.89 14.09 10.41 11.38 8.13 8.89 7.42 8.11 13.66 14.93 24.52 25.74 10.12 11.06 11,12 12.15 2.02 . 1.00 . 5.39 . 8.68 9.4 9.39 10.26 747 8.38 747 8.16 cont go cent inc income Mun by Selene Vang Ltd Svca usaa Ca usaa in us gets 5.39 5.89 2.06 . 7.69 . 11.73 . 9.73 9.88 value line founds Val lne 7.13 7.31 Val inc s.18 5.31 lev Goth 11.0511.33 Val pc 4.47 4.58 Vance Sander income 13.5114,77 invest 7.07 7.73 is com s.83 6.37 spec 8.55 9.34 Vanguard group explore 20.25n.l. . 14.78 . 12.99 . 10.00 , 10.50 . 24.34 . Ray Alt mid am Money m Mony cd mob cd it lbs f Mif cd Mif Gro 8.03 3.82 8.68 4.13 Camoni com Irrol and Mot a Mun by Specos Security fund and cd 10.31 10.60 equity 4.00 4.37 invest 7.s3 8.23 Ultra f 10.2011.15 sentry f 1x4713.55 Sentinel fund growth 8.01 8.78 Trutt 9.9810.85 1t in Cut Ivest Moron Trust Welly Wellton a ten Winder varied i Walls or Weing Seq a told or Wise inc no no Load dividend a Unava Loble. 13.15 . 7.78 . 11.92 . E.01 12.10 . 6 . 948 . 10.36 . Z z 6.07 6.63 12.50 . 6.86 7.46 5.09 5.57 a a Bright according to the Wall Street Jour . This news was discouraging because government reports beginning with last week s 0.8 per cent hike in the leading indicators showed the Economy was picking up steam after a summer Lull. August factory orders Rose 2.6 per cent durable goods orders jumped 4.2 per cent and no defense durable goods orders climbed 2.3 per cent. Although August construction spending fell 0.9 per cent from july it was 21 per cent ahead of last year. Unemployment dipped to 6.9 per cent from 7.1 per cent. August consumer credit spurted $2.52 billion up from the $2.32-billion july in crease indicating the consumer still was spending. A conference Board Survey however said consumer Confidence has declined. President Carter hinted he would pro pose a tax Cut next year if the Economy showed any signs of slowing. Carter also said hell unveil his Long awaited tax soon. The Senate meanwhile broke a filibuster and voted to deregulate natural Gas prices Over a period of time. Even if the Bill survives a House Senate conference committee however Carter has vowed to veto the measure. The Overall Energy program appears to be in a shambles in Congress. The uncertainty Over its outcome has delayed some Industry capital spending plans. Wall Street was somewhat encouraged late in the week when the administration appeared to be More sympathetic about the steel Industry s virtual depression. The government will hold a conference on the problems next thursday. . Steel gained 1% to 30vs in heavy trading in Wake of the administration s apparent softened stand. Also the Treasury department found japanese steelmakers were guilty of dumping certain steel in the United states. Canada made the same find ing Friday. American Telephone & Telegraph was the second most Active nose listed Issue losing 1% to 61% on 1,045,000 shares. A fed eral appeals court ruling has raised questions about whether at to s Long distance lines monopoly can be held. Savin business machines an institution Al favorite earlier this year was the third most Active Issue plunging 8vi Points to 28 on 895,800 shares. It fell 10% last week. There was speculation that Rich the japanese manufacturer of copiers which Savin distributes in the United states might become a competitor. Nashua corp., which distributes Rich produced copiers outside the United states fell 2 /2 Points to 20, after giving up 4% Points last week. Investors1 guide Bysa Shulsky q. I am a Young College graduate with a position which enables me to save $100 a month. Where should the Money go i d like to buy a Home in 10 years and also Stock pulse by United press International copyright 1977 Friday oct. 7 1977 nose composite most actives by volume Stock div gtd skin vet Coln Sonych Citicorp Ralston Alcon la Chris Streels us steel Bally of .70 .15b .076 1.06 .40 .32 Craft 1.64 2.20 .10 vol close earns 330,600 305,500 294,700 185,400 164,400 158,600 150,300 145,200 141,500 139,800 23 /8 21% 8 24 15 /2 27 /2 8% 31 Vij 30 a 17% 4.17 .66 .52 3.23 1.30 1.47 1.34 3.46 3.60 1.30 be 6.0 32.0 15.0 7.0 12.0 19.0 6.0 9.0 8.0 14.0 old 3.0 .9 .9 4.4 2.6 1.2. 5.2 7.3 .6 nose composite largest net changes Stock div Alcon la .32 a stub .88 in into up vet Coln Northrop pet Lestr spartan Monsan into paper it land a .15b 1.20 2a .48 3.10 2 1.40 close Cage earns 27vi 2v4 1.47 23%. 1% 2.43 32v4 1% 21% Ito 21v2 l /2 80 1% 12 v/4 57 /4 t/4 4v/4 l a 47% in be old 19.0 1.2 10.0 3.7 .66 3.68 5.51 2.05 9.18 7.21 7.21 32.0 .9 6.0 5.6 15.0 2.5 6.0 4.0 6.0 5.4 9.0 4.8 7.0 2.9 amex composite most actives by volume Stock div can i a .75b Houston Oil Nat Pat Dev Susque up Cook inmost Peutec corp alter ads .50 in Fidelity Leath co ,50 a atop .10b. Vol close earns be old 121,300 0% 65,700 35 65,000 14 47,200 36,000 28,900 25,400 23,400 23,000 22,900 7vs 8% be 18% 8
