Pacific Stars And Stripes Newspaper Archives May 11 1983, Page 7

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Pacific Stars And Stripes (Newspaper) - May 11, 1983, Tokyo, JapanWednesday May 11, 1983 Pacific stars and stripes business 7 stocks close mixed late rally fizzles out new York up a late rally attempt fizzled and the Stock Market finished mixed monday with Many averages falling from record height sin Active trading. Smaller investors bought More than megabucks institutions in the Seesaw session that indicated Wall Street was torn Between a disappoint ing Rise in the Money Supply and predictions Banks might lower in Terest rates soon. The Dow Jones Industrial average up three Points in the final hour and Down eight at the outset shed 4.36 to 1,228.23. It Rose 12.87 to a record 1,232.59 Friday. The Dow Jones transportation average which exploded 36.30 the previous three sessions to an All time High of 552.10 Friday lost 2.70 to 549.40. The new York Stock Exchange Index slipped 0.12 to 95.35 and the Price of an average share decreased five cents. Standard & poor s 500 Stock Index shed 0.29 to 165.81. But advances topped declines by an 8-to-7margin. Big Board volume shrank to93,670,000 shares from 128,200,00 Friday the busiest session in four months. The Federal Reserve s report lat Friday that the nation s Money sup ply Rose $1.4 billion in the latest week triggered Early Selling. But an accompanying report that Bank Loans decreased $1.4 billion led Many observers to theorize ban Smight be under pressure to lower their prime lending rate. American motors was the most Active nose listed Issue up 5/s to 10v2. Eastman Kodak was second off 2 to 75%. Pan american world air ways was third unchanged at ghz. The american Stock Exchange in Dex Rose 1.75 to a record 444.37 in Active trading. Champion Home builders led the amex actives up 5/s to 63/s. Dome Petroleum followed up 3/ie to 49/ie. Imperial chemical was third unchanged at 7v4. Market soars but watch out fora drop by John Cunniff associated press new York if you could measure the mood you might find it even higher than the prices which Are High indeed. Since last August the Dow Jones average of 30 Industrial stocks has Rise almost 55 percent. But 55 percent you might be told today is really nothing although it is almost double the average gain in the same time Frame of eight other Bull markets since world War ii. Bigger things Are coming you Are told. Business week Magazine which some time ago declared in a leading article that stocks had seen their Days has now resurrected them in another leading article called the rebirth of equities the first line of which is the quote i think this Bull Market will last for most of the after Long Gray years and Days that seemed endlessly Dull and without even the Prospect of drama a verdant vibrant Spring seems to have enveloped the Stock Market including warhorse such As general motors ism and Chrysler. The last named has steadily risen and is now More than eight times the $3 or so that it sold for just a couple of years ago inspiring similar Hopes for the shares of International Harvester which have leaped from $2.75 to As High As $12.87 within a year despite financial problems that endanger the company s existence. The Dow now rests above 1,200 Points and some of the very people who thought they d never see that level this year or next Are now pointing out that it is really not very High at All. And it in to if you believe that the Dow like the purchasing Power of the Dollar should be adjusted analysis for inflation. Using today s Dollar the do reached close to 2,800 Points Points near the beginning of 1966 More than 17 years ago. The Dow today is priced at a 57 percent discount from that figure or to say it differently As does John Wright the Bridgeport conn., Money Mana Ger based on this arithmetic the Djina could increase in Price twice again As much As it has already before returning to its historic real Dollar Wright and most other experienced Money men will avoid making that forecast and Wright infant mentions the increasing probability of a Retreat from current highs. But for Many reasons the urge to bet on the Market exists. Among the reasons listed by business week Arete decline of inflation the existence of Price earn Ings ratios that Are still around 10, in comparison to More than 18 in 1973 and an untapped Market of there is substance to the last named reason and Wall Streeter bargain on it. They know it takes years for experienced investors to forget their wounds but they know too that an a scarred and naively hopeful generation is always on the Way. For the time being at least the Market seems to offer so Many thrills that the shouting has drowned out the bears who continue to Shou hoarsely that the Stock Market is a roller coaster that dips after the big ascent. When the dip will come nobody knows but it has come in the past when the Little Guy was falling prey to the enticements and the Shoeshine boy an the elevator operator were giving out tips and the shouting was deafening. Soon after the dip begins and the shouting tops. A closing s Dow Jones i stocks open h i 30 kinds 1227.07 1241 m 20 turns 549.71 555 i 15 utile 128.97 129 x 65 Saks 481.10 486 Standard & pc x 400 ind close 186.00 Prev close 186.37 by summary x averages x go Low close chg. .29 1219.04 1228.234.36 x .43 543.92 549.402.70 x .80 128.00 129.11 x .19 477.30 481.341.69 Mars indexes v20 40 40 500 s turns utile incl Saks x 29.34 65.06 20.96 165.81 x 29.42 65.14 20.93 166.10 use close change common Index 95.35 0.12 x industrials 110.19 -0.11 a i transport 90.24 0.41 x x utilities 47.98 0.14 finance 104.06 0.04. A a amex Market value 444.37 1.75 x a Ash change 0.07 a a new York up the 10 most a x Active stocks in America Stock Exchange x a composite trading at 4 . Monday. X sales last chg. X Champion Homes 1,373,900 6% % a x dome petrol 1,069,900 49-163-16 x Imperial chem 317,300 7 /4 a a Sterling soft i 243,600 14 a % Atlas c m 237,000 3% vex Wang labs b 226,800 40% % x a resorts into a 222,600 30 2va a Dat products 157,600 24 % x i Kidde was 146,500 7va vex Houston Oil to 137,800 143/4 Vax Dollar yen Exchange rate 233.10 x a won Dollar buying a closing Gold prices i a London 433.75 Paris 437 434.25 Hong Kong 435.45 composi1 new York up follow ing Are selected nationwide composite prices for Stock listed on the new York Stock Exchange. The quotations Are prices several hours before closing monday. Sales net ends close chg. Abbot lbs 1 181465 45 /2 a Aetna of 2.64 7 1565 42 a air prod .80 13 820 p40% 1/4 Alcan Al .90. 974 31% Veale Gap 1.08 12 84 54% % All Gentl 1.40 1009 34 /4 ally pm 2.40 7 336 24% a Allied up 2.40 7 1997 u49 Vaal Lindst 1.80 10 566 45% a Allis Chalm 393 pl5% Vaaloa 1.20 2518 35% % Amax .20 1557 29 % amid h 1.10 11 2515 25% Amr. 1012 p29% be Abrand 3.50 8 615 54% Vaal Bdl 1.60 13 465 66%l /4 am can 2.90 686 41 a a Cyan 1.75 183037 48aeipwr 2.26 11 1556 19 /4 a am hoist or 207 13% a a Home 2.40 13 x3278 c46v4 /4 am Hosp 1 17 1162 48% /4am motors. 36120 Clova /4 Antres 3.16 6 187 34 a a stand 1.6023 351 34 a am stores 1 10 93 78 a Batt 5.40a 9 6969 p68% % Kate $ 765 v. . $ per Troy ounce .61 Frankfurt 436.99 Zurich a be prices Smetek 1.20 16 191 40 /4 a am .50 958 16 /4 a Star 1.90 20 127 27va a Aramco .40. 2134 18va % Sarco .40. 1331 p40 lava Shinoi 2.40 9 635 35val% at Rich 2.40 7 x3415 p44% 1/4atlas .25d 3 74 20 a augat .32 33 805 40valva Avo 1.20 13 936 33% Vaa net .50 31 413 p41%b Brake rent .92 112202 19% a Bangor .80 23 22% Ankam 1.52 93850 24% a Baxt Erti .56 19 1762 52% a beat cd 1.60 105 2089 p28 /4 Bel howl .96 xll8 43v4 % Beth St .60. 1666 22v4 Evlyen .28 26 723 35va a Blackd .52. 1465 23va Vabo eing 1.40 11 x2717 p37% Iva Boi Seca 1.90 112329 44% Borden 2.44 91320 53va vib Borger 1.52 12 758 46va 1bost de 2.88 8 152 28v4 a Briggs 1.36a 17 77 351 Bris my 2.40 15 682 79% Brit pet in 7 473 23% % bring up 1.96 13 66 76 Brunswick 1 8 748 35va % Bucyrus .44 13x482 pls3 Burlund 1.52 24 214 38v2t/8 Burin 10 891 u80 1%burrgh 2.60 332193 u50% 1 Camps 2.20 10 489 p45 /4 % a Dupac 1.40 249 38% Vacar Opl 2.40 7 1989 u22va a cat Ltd 1.50. 1437 p48% v4 c b s 2.80 19 584 77 /2 celanese 4. 752 61% % Centel 2.26 10 185 38v2 % cents 1.78 63768 u8 /4 certain tee. 173 23% i Cessna .40. 160 27% Bachamp 1 .40 61 703 27v4 a chm pop .40 343129 p2 /4 Chaser 3.50 7 2179 p60% a Chumny 3.24 6 1244 53 t/4chris Craft 27 257 24% 1% Chrysler 30 8166 p28 /4 v4 Cin Gas 2.16 7 403 18v4 Citicorp 1.88 82845 45%% City inv 1.80 10 956 x33%clevell 2.28 7 z320100 20 /4. Clorox 1.04 13 420 32%coastal .40 588697 23va a coca col 2.68 14 3011 54% Colgate 1.28 101680 23% a col Gas 3.02 7 916 u29va % comb e 1 .84 8 422 35v4 v4comwl de 3 7 2822 u27v 4. Comsat 2.30 12x641 68%ive conned 1.88 7 1907 22% a consid 2.32 7 825 42 a Confra 1.80 12 620 49 3/4cons nags 2 8 210 27v4 a Consul 2.44 74017 p20% Vacon Tel 1.64 11 5151 24 vib control d .60 132782 p52%lv4 Corgi 2.32 17 770 79va Lacox com .28 21 115 48va a pc into 2.20 8 1108 383/4 a Crane 1.60g. 50 28va a Cronzell 1. 581 p33 vacs up 2.84 8 759 u65 /2 a Cartwr 1.20 11 31 46%% Dan Ivr .56 83 223/fe a Dana 1.60271392 38va 3/4dart or 3.84 11 1175 72% % data genral 66 413 69dayco .16 159 96 12%day tonal 2 7 575 17va Vadeene 1. 803 p38%delta Irli 1. 1372 48 a Dennis 1.44 15 76 33% % Devedis 1.68 8 834 u4% a Diasha 1.76 131981 24%%diebold 1 19 586 89% % digital ept 21 3722 1193/41disney 1.20 25 887 80 Iva or Pepper .84 33 x5371 p3% % Dommen .10. 1466 u20% Dow cd 1.80 21 6481 323/41 Downnes .60 63 458 49va or Avoca .50 859 14%l /4 Dresser .80 9 2674 19ve v4euke p 2.28 7 3082 u23% % Dupont 2.40 131871 47 vaduqnelite29 352 18vaeasco 1.32 11 56 g29 a Eastern air. 2056 8% vibes Kodak 3a 1212722 75% 2 Eaton .80. 612 423/4 a Elpaso 1.48 176277 15va wee Mosei 2.10 14 1682 62va 1 Enorch 1.60 9 562 2q3/4 vae Smark 1.84 9 178 64 1 Ethyl 8 171 19va vae Celo 1.60 10 54 31%exxon 3 j x6381 p34% a Faberge .60 18 477 22 a Fairchil .80 14 204 22 Safarah lib 11 446 19 % Ferro 1.20 25 x43 333/4 Vafi Stone .60 581985 p223/ 4 Lafirst a 684 x7 Fleming .72 13 57 26va 1 /4 flaprgl.92 92771 20% a Flap it 3.36 8 572 p37%. Flu rep .80 13 1899 24 a f m c 1.80 9 964 p40 a Ford motor. 3696 51% vib Formuck 2.40 14 915 45 1 Fruhauf .40. 202 34 /4 a Gay .05h 18 417 u8% vib Gannett 1.80 20 293 68 /4 v4genl Al 3.40 132467 pll03/4 a Gnu ads 2.40 11 398 45va Vage Host .44 13 402 183/4 a Gen inst .50 162148 53 /4 Vanmills 1.84 12 946 55 3/ 4gnmot 1 .20b 25 3223 d693/4 % Gen pub util 161220 p9 tire 20 469 p37 /4 Vaga Pac .60 18x2819 30%gerber 1.36 11 179 30%%gettyoi ,65b 8 260 64% a Gillette 2.30 102608 453 Iva global .24 41136 9vamgdrich 1.56 879 p43 a Goody 1.40113218 34va be Grace 2.80 11 810 47 1great a a 504 1t/4 a get none 2 10 170 45v4 vagus Tinl .40. 2361 29 /4 % a Rhynd 1.20 102155 23% a Grump 1.60 17 178 583/4 3/4 get 2.92 10 2528 453/4 Vagula Oil 2.80 82967 p34% a Gulf Stu 1.64 7 819 15va Gulf is .75 141758 26% be Halbren 1.60 102771 36va a Hampa 1.84 14 106 35% Harris .88 251087 46 1% Harte Ink 1 16 55 46% vah Ecla Minig 344622 p23va % Heinz 1.80 11 720 47 1/4hercule 1.32 191737 p38% a Hershf 2.10 9 90 55%%hewitt p .30 26 3849 82 la Hilton 1.80 20 822 57 hoi inns .84 262133 50va v4homestk m 41 3009 32%p/ 4honewll 3.60 11 1217 u19va a Houston 2.32 157593 p22 /4 a 1c 2.36 22 526 43% Idaho p 2.88 7 150 p32 vib Ide albas .60 515 20va Viii per 2.48 8 621 x23/4 % no Stew 2.74 7 172 33% Vano tons 1.08 15 633 u25% % of capt 2.50 226 2176 p20% Vanogden 1.80 11 671 31%1% Ohio de 1.80 81700 15%ocklage 1.84 8 340 19v4 violin 1.20 14 147 32% 3/4 Omark 1 34 2 241/3 a Boneo 1 2.40 8 116 25% a or Ruckl 1.80 9 65 19% 1/4 out brim .90 10 45 39vb own of 1.20 30 456 45% % of Enlil 1.68 12x489 34va a Pac Gas Al 3 7 1646 32va a Pac Lightn 3 7 379 u31va a apace l 2.16 8 801 p22% be pan am air 11818 p6va Pandl 2.30 6 628 28 a Penney 2.16 11 3227 60%1 Pennal 2.40 8 416 24% a Pennzoil 2.20 11 831 38va a people in 1 8 219 9 1/4 Pepsico 1.62 182719 p39 vap Fizer 2.32 19 1197 84% 1/4 Phelps de. 1058 x31%. Philae 2.12 8 1998 i 8 a Philipm 2.90 10 2297 p65%. Philipson .56 19 128 36 % Philpet 2.20 9 3915 333/4 Pillsbury 2.48 10 407 583/4 a Pitney 1.84 14 207 65 /4 a Polaroid 1 46 577 33 /4 Vapo Tlach 1.48 34 39 41% be pig 2.36 14 346 64% a proct i 2.40 242897 c59vs is vol 1.84 92889 173,%pse8.g 2.56 73836 p24 a Quak Roats 2 49 537 48%ralston .84 21 3125 22% a Raythan 1.40 142910 51 Ria .90 17 4123 27ve be re steel .50. 590 22% ver Evlon 1.84 15z56400 34va % Reynolds 3 81383 55% Breyn lds 1. 457 32% be Robshaw 1.40 24 30 373/41v4rchgas 1.84 6 428 17%rockwell 1.76 13 598 58% Var ohm 2.80 15 125 120 3/ 4rohr 8 229 25v4 a Roper .90 32 8 32 a Royl or 1.04 12 51 23 Verold 1.70b 51952 43% a 5 s Safeway 1.40 92421 p27%St Regis 1.12 35 365 32%%santafe 1 13x2540 p273/ 4 % Cherng 1.68 13 1979 p47% sch mag .96 113583 45vasam2 12 92 373/4 1/4 Scot paper 1 15 420 24va vase Gram .68 11 449 32 1/4 Sears 1.52 155008 41 a % Shaklee 1.20 14 283 68ve Shell Oil 1.80 9 559 42% % Sierra 1.46 6 264 13% signal .90 88 717 30% Iva Singer .10 1116 32 Wmk lab 2.60 123062 p68v4 1 /4ony .15b 31 7502 p6% % Socaro 2 9 490 x20 1/4socal e 3.52 7 3207 37%. South co 1.70 71212 u6 Sopack of 2.60 13 987 61va swat be 1.36 5 55 23va % so wasps 1.62 21853 18% 1/4sperry 1.92141962 38 /4 a Square 1.84 16 256 38val Squibb 1.34 166398 48 2stocal 2.40 92872 c38%std ind 2.80 72661 u45stoiloh 2.60 7 x3779 p46% % Ster log 1.12 121607 p26% a Ste own 1.68 42 x47 p28va % Sun co 2.30 9 358 38 Vasu Shine m. 1481 171/4 % sup Oil .20 261446 33% 1/4syntex 1 .40 1 5 Al 1 1 5 g58% 3/ 4sysco .32 19 256 37 vhf t Tandy corp 243913 62%l%teledyne 13 852 1453,% vib Tenno 2.72 7 x2158 38 Texaco 3 7 x6510 353/8 v4 to Cash 1.28 7 210 39v4 vat East 4.10 10x812 55%texas 2.12 6 150 30va 1/4 Texas inst 2 30 1369 156 irate Pacl .35 23 7 293/4 % Tex util 2.20 72110 p26 ate tron 1.80 13 261 33% 3/ 4thrifty .92 19 1359 p37% 1% Timken 1.80 8 66 56w Var Sam 1.50 9 374 28va % trans w up 31 879 p323/4 % Tri cont 2b. 207 28 Atrinity .50 17 90 173/4 % try 2.60 13 x415 70 /4 % Ual 252603 u36va % unc arb 3.40 17 1003 p65v2. Une lec 1.64 71182 15va a nocal .50b 81591 33% a Bunjac 1.80 17 1241 573/4 a uniroyal 76 4884 p4va Vaud brands. 198 13va a us Gyp 2.40 19 134 x543/4 v4u s kinds .76 17 1815 16va % u s steel 1. 3843 u24v4 Vaus Tob 1.16 14 102 29va % Ltd Teh 2.60 11 1632 72 a but Dele 1.76 92239 u23 be Upjohn 2.28 14 305 59 /4 1 v v Varian .26 25 152 45% Vendo co 20 73 11 % Vallec 1.60 82265 15%w w Walgren .60 16 85 32v4 Warner c 1 11 1962 27va 1/4 Wamala 1.40 142258 32vaa War 2.48 8 105 p22% be Western Airl 858 53/4union 1.40 133063 42 /4l%westhe 1.80 102139 p48 a is vac 1.20 14 173 32 vase yrs 1.30 1451175 40va % Wheeling St. 59 183/4 Vaw Lpool 1.80 13 186 523/4white c 1.50 19 186 42v4 a Whitker 1.60 111 249 31ve % will co 1.20 20 607 24va a Winnix 2.40 11 15 48% Woolwo 1.80. 562 d33% a vat Xerox 3 92861 47 % Zale 1.20 263 303/4 Jazenith Rad 5770 2l a Lva Zur Nind 1.32 10 88 36va is footnotes composite tables include trades from eight Market identified by last Price Indica tors for markets other than nose As a amex b bos ton c Cincinnati g Nash k inst net Block trading system used by institutions a Pacific u Midwest x Philadelphia dividends annual rate unless otherwise identified a plus extra b paid so far in 1983,no regular rate c payment on accumulated dividends d paid in 1982 e Cash plus Stock paid in 1983 f Cash plus Stock paid in 1982 g annual rate plus Stock dividend h paid in 1983, latest dividend omitted i percent in Stock paid in 1982 j percent in Stock paid in 1983,latest dividend omitted k percent in Stock paid in 1983 q in bankruptcy receivership or reorganization s capita distribution t liquidating i when issued it War rants x sex dividend sex rights sex distribution. Sales in hundreds 00 omitted except for those designated z which Are traded in 10-share lots and carried in full. P e ratio the Price of Astock As a multiple of per share earnings derived by dividing the latest 12 month earnings figure into last Sal Price

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