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Show and Down the Stive! Up The Salt l.akw Trihune. Tuesday, October 2.1, 1979 Wg ARCO Chief Touts Coai in Energy Crisis By Robert H Woody Tribune Business Editor of $12 thtl roleum Saudi-- , It Car- ter has frozen said Mondav , Nuclear energy Receding Target' ' It's still a receding target," said Mr Anderson of the industry that has been bogged down in public controsersy Mr Anderson was in Salt Lake City for a directors meeting at the Hotel directors Sunday, aisu is WASHINGTON He (AP) toured the Markets Slide Continues NEW YORK (AP) Continued worries about the possibility of further by the Federal Reserves sent the stock market down sharply Monday, but huge early losses were partially made up by a late wave of buying near the close "It had to snap back You had such a precipitous decline." said Hild Zagorski, an analyst at Bache Halsey Stuart Shields The Dow Jones average, down 15 44 points Friday, was down almost that much in Monday, sliplevel for the ping below the first time since last December. But it rallied in the final hour closing at 809 13, down 5 55. Indicators Close Poorly other Despite the Dows bounce-bacmarket indicators closed poorly. The margin of declines over advances among issues trading on the New York Stock Exchange was 10-and the NYSE's composite common-stoc- k credit-tightenin- g 800-poi- 1, - j ' METALS NEW YORK (UPl) - New York Silver futures closed Mondav 300 points higher Saies 12,000 1,200 to lower points contracts SILVER Cemex -- Ojm trey Last zero emitted Open High MY n; cts per troy ex Close Lew American Prev trading iv, 5i Manganese, 99 9 per cent boxed regular lo 76 ib flask Mercury Nickel, electrolytic cathodes, f o b Port Coibome, Ont , S3 00-- 05 ib N Y Am Met Mkt dealer Palladium. per trov ounce 99 5 fine soft. Platinum, producer 1380 00, , per trov ounce Steel, No heavy melt scrap 00 oer ton (consumer Pittsburgh S86 buvmg price). Am Met Mkt composite scrap price $86 7 per ton Tin, N Y. Am Met Mkt price 735 00c Ib Tin, N Y Am Met Mkt allover price 58 00c $67 00 Board of Trade CHICAGO (UPl) - Closing range of prices traded on the Chicago Mercantile Excnange Monoey Lew Clow Prev. Open Hh Live Beef Cevtte-Mlbs; cents peHb - .1 786 active in er London stoeks-Oostower Cotton furu'es-Hign- er Goto tutures-MixChicago gram futures - Wheat closed off ?v to up 3 cents, com off 1w to up to Vi, and soybeans off to oats off up 3 cen s 00 to $) 50 higher; top CaHie trade-- Ib 1 - NEW YORK (UPl) Markets at a gtance at the ciose on Monoay lower in active trading er b, j Tungsten powder (H Red), 98 8 per cent minimum pure $13 90 per ib Zinc, prime western, US 37 SOc lb wire LONDON (UM) - Soot coo bars cited the second session on tho Londe" Metals ExcMnoe Monday 4 pounds towor with terrors 9)1 and setters 912 pounds per metric ton, forward ) pounds towor with buyers 921 end setters 922 Pounds per ton Safas 11,200 rent. with Spot cop oer cathodes unchanged nt buyets uers and tons Spot tin no pounds lower with buyers 7130 and sellers 7350 pounds oer ton NFW YORK (UPI1 - Platinum futures L, forward 25 pounds lower with buyers 7190 Mjnoay Closed 220 to 7t0 points higner end sellers 7200 pounds per ton Sales 445 Sales were estimated at 1,717 contracts NY FUONUM tons Spot load 7 pounds higher with buvers Mercex-5- a per trey ex troy ex, 630 Close Prev and sellers &32 pounds per ton Open High Lew 505 80 forward 4 pounds higher with buyers 618 Oct 515 00 517 00 900 JO sue 00 505 80 10 00 516 00 499 00 508 00 and setters 6)9 pounds per ton Sates Jan 5.500 tons . S1600 518 00 504 Ql) S S 00 50960 Apr Soot zinc 4 pounds lower with buyers Jiy 520 00B 521 00 509 00 521 70B 515 60 , 313 312 oer ton. Oct 523 008 525 575 00 528 706 571 10 and seller pounds 3 pounds forward 530 000 530 00 530 00 530 00 52530 higher with buvers Jan 3? ton oer end seuers 322 pounds Saies 4,600 tons NEW YORK (UPl) - Silver Coin with buvers futures closed Monoay 200 to 300 points Snot silver unchanged 7900 and sellers inooo pence. 3 months iower"Saies 17 contracts, 00 pence with buversiNY SILVER COINS: 'forward ,H6 00 and seuers HI 00 pence Saies 92 Mercai -- 18 HO babsi S oer baa . lots. Prev, Open Hiab Law Clou 601 Jt p t ior i GOLD i NEW YORK (UPl) domestic goid prices in v ounce NYmoay LONDON tS. Morning fixing Afternoon fixing ' PARIS (tree market) and Foreign dollars per troy f 1,5 1 4 40 02 40 90 39 80 39 X 41.55 lbs, cts per Pork ib Feb Mar May Jiy Aug 43 43 44 46 45 65 60 80 05 X 44 45 46 47 46 60 05 15 40 20 43 43 44 46 45 65 60 80 05 00 44 606 45 05B 46 15B 47 06 46 JOB 42 43 44 45 44 60 05 15 40 20 Estimated volume 3,1)0 contracts TRADED N.Y.S.E. Index AH sales in hundreds (00) omitted except for those designated (z which are traded m 10 share lots and earned in full DIVIDENDS are annual unless otherwise identified (a) plus extra, (b) paid last year, (c) payment on accumulated dividends, (d) declared or paid so far this year, no regular rate, (e) cash plus stock, (g) annual rate plus stock dividend, (h) paid this year latest dividend omitted, (it percent in stock, (k) percent in stock paid last year, (q) in bankruptcy receivershtp or reorganization, (s) capital distribution, (x) exdividend, (wO when issued, (wt) warrants FRACTIONS (f) indicates following figure is fraction m 32nds, () indicates following figure is fraction in 64ths, (r) following figure is fraction in 256ths, (s) following figure is fraction in 128ths, (t) indicates following figure is fraction settling and 00 per X down 80 AetnaLf AlbertoC 36 20 Albertn 08 Auegcp AigCp pf2 86 76 Ails Pw 60 AiiiedSt 80 Allis Ch 2 80 Aicoa AmetgSug I A hss of 3 40 AmAirln AmBrands 5 Am Can 2 80 A Can of 6U A Cyan AEiPwr 2 18 12 A Hoist home 50 80 80 5 AmTITpf 4 ATTptA 3 64 ATTptB 3 4 Ametflk 1 80 A M F 24 Amstar 15 A CHICAGO (UPl) Closing traced Iced Broilers futures Chicago Board of Trade Monoay Clew Open Nigh Lew ICED BROILERS-ice- lbs; ett Mr Ib A A 4 1015 36 8 12 347 45 83 28 503 18 43 27 477 38 657 60 11 24 10 70 07 3 411 14 7 233 67 S 155 2 22'A 7 879 X 1 1373 23 5 145 21 11 U70 29 11 538 35 4 48 59 7 3862 64 14 199500 47 564 49 164 42 6 347 II 7 317 2 -- X !tec lm R18 Hr 91 15 I6ay tl I My 8 f ! i ,1 0 c Ian Va. Aav J'v Ooee t SO 00 97 40 2 DO VI 208 85 V B 81 SOB 4 UB 70 10 88 00 I0 70 90 '0 00 10 00 to 85 W 15 HI 85 HlO tl tl 7 10 tut tl tl tl tl AI 91 85 87 25 t? 75 t? 85 83 IS 8) 73 84 15 JO 85 00 8? 00 82 00 87 A0 87 W 81 10 87 81 J) 82 00 81 70 57 SOI oH 154 interest Vmenwnt on previous and clou i Bank (ilrarinp Menday'i Quotations Today's Bank debits Same dav last year 46 65 29 prices on previous and close GRAIN FUTURES By United Press International CHICAGO BOARO OF TRADE Low Ciew Prev. Open High Wheel -- 500 bu; $ per bu NEW exchange 33 f n under last Wednesdays 233.95 yen Tokyo dealers said the market was speculating on a further boost in the that charged to U S discount rate Federal Reserve member banks for as an inflation-fightinloans g A senior dealer in Frankfurt said thp European market also was expecting a the base rise m the U S prime rate rate banks charge '.heir most worthy corporate customers The prime currently stands at 14 5 percent at major banks. Pound Sags The British pound sagged in London to wind up at $2 1490, compared with $2 1535 late Friday. A New York foreign exchange analyst said the dollar firmed in moderate activity for several reasons, all connected with high interest rates prevailing in the United States, which attract capital that otherwise might be kept in foreign currencies. a 18 23 18 12 24 73 26 r$l 67rS4 r39 r40 2 Trans. 0 Net Pet 897 61 Utils. 77 271 10 Ix-adin- 61 ESvstems Ctosa m chg chg Press International 15 Trns Utils 45 Stks 97 70 63 59 26 W 87 279 60 279 73 279 46 278 45 278 59 -- 5 31 -- 1.87 Stocks g 10 5 most Envlrotch 84 6 35 Ethyl Exxon Cp 4 S SB Firstone FstChari 60 80 90 Fleming FMC Pf 3 Ford Mot r 4 32 PortHw X 699 22 23 32 2 40 78 - -- F 4 3 5 7 3 9 4 Standard & NEW YORK (UPl) 4M 18 am Noon I p m 112 02 13 84 47 78 11217 13 84 47 66 M2 13 13 82 47 64 Amstr pf 68 ArizonaPS 2 7 ArkLaG 2 20 9 Armco j SO 5 Arm pf 2 10 ArmstR 1.20 4 4 ASARCO 11 257 82 271 39 13 1029 27 21 47 40 & 500 Fnd Stks 11 11 11 66 100 08 65 100 17 66 00 4, 6 r!8 II- - 41- -1 31 13 2312- 4- 35 26 28 17 25 17 J7 68 5 50 5 76 13 20 6 80 8 Grurnn Gulf 01 2 Gulf Res X 9 4 - r?2 re X 61 - r7 8 3 plO' 3 1- 3- 14 1- 4- '5 16 11 - r9 - 31 3?- r36 3- 7- 35 25 4- 1- 2- 7- 24- - 9 23 39 27 45 53 21 4168 35 457 23 14 22 8 888 - 21 F 3 33 49 48 56 IH6 V - n- p49- IS 13 16 23 19 47 ' 147 10 10 11 5 54 394 19 71$ 13 510 31 179 18 7 39 1050 45 68 47 339 40 369 16 654 22 6 44- -1 4- 0- p47 Poors 500 Stock Index - Standard 40 Indus Trns Utils 11 GAF CP Gam Sk Gannett Go Dye Gn Elec J 40 14 5v 14 66r49 0-- IBM Corp Bally Mtg Peosi Co Caesars Wd Boeing Co r48 59 17 7 31 382 147 8 2709 Faberge 40 5 FairmtF 76 10 Farah Mtg 15 Frhauf 3944 13 Esmark ' FncICo 9 228 17 - E E 9 18 34 31107 ll Eastern Air East Ko 2 40 8 EiDaaSvs 112 ciPasC 32 6 78 2e 78 06 78 46 802 65 227 02 99 803 75 227 16 99 M3 92 226 X 99 800 60 225 31 99 802 47 225 17 99 -- 12 21 -- 6 03 --- 50 2 61 -- pm 10 205 10 3D 11 Total X Indus a m. Noon p m Transoor-tabo- pf 4 Poor's hourlv indexes ,or Mondav. 48 48 SM 460 X Indus Trm Utils Fnd Stxs 11165 Cessna X ChaseM 240 Ches CP 84 Chesste 2 32 7 4 10 4 Prev C.e Chryslr Gas Fin 0- Cm CIT 73- 3 72 47 58 11) 83 13 73 47 5) 113 77 14 09 48 20 2pm 3 pm. 10h 96 2 489 611 178 302 i2 6 8 173 11 11 11 99 74 99 87 60 64 63 83 IQ1 IS 1- 7- 28 33- -l 24r18 24 34 7 n 1- 8- 2- $- 1pS- 6- 23 43 21r16 z2700 60 39 Vi V. 5- 25 32 6 9 16 Jl- - 1- 8- 2 - P- X85 -- r9 45 - 807 Bonds: X Bonds 10 Pub Utils 10 Indus Bv United Sales, closing prices and net change of the (AP) active stocks traded on the New York Stock Exchange Monday W 2- Ctosa Chg 99 809 13- -5 55 32 777 02- -4 99 59- -1 56 92 56 780 66 3 24 used in averages 795 223 98 276 Ten -! 2- 813 91 229 21 100 81 782 91 in stocks 61 u3419 U26 -1 - I- S- - la 26 X 79 P57- - 5P3- 9- PA)- -!' 27- 37- -1 rl4 1- 4- II -- 1 14 Y 4V Mutual FuimI YORK rates in Foreign (UPl) dollars Argentina (Peso) Australia (Dollar) Austria (Schi'iing) Beioium (Franc conv Belgium (Franc finc'l) ) Friday 0007 1110 0772 0007 1115 0773 0)4500 .03300 03460(1 033600 0336 03J6 21570 26M 2377 0268 5023 19V4 1714 Mer Jun 41 7 SO $aap 44600 431 00 419 00 409 00 413 V 4tt 50 424 00 427 60 446 50 09 00 440 50 414 70 & 443 X TO (lath (erain Csh Grain CHICAGO (UPl) Monday Wheat No 2 soft red 4 43N Wteat No 2 hard winter 4 14N Com No 2 yellow 2 77N Oan No 2 extra heavy wtvte Soybeans No I vellow 6 31N high rate 2 00N, feed 110-Bariev melting Basis (the difference between the cash most current price end price of the for vteeet futures contract) unchanged contend oats, off 2 cents for soybeans 006 0132 3X64 20780 Soybeans MM ten $ per bu Ivw (Pound) Italy (Lira) japan (Yen) Jordan (Omar) (Dnr) Kuwait Lebanon (Pound) Mexico (Peso) New Zealand (Dollar) Norwcv (Krone) Pakistan (Ruoee) Paraguay (Guarani) Peru (Sol) PM pomes (Peso) Portugal (Ewruflo) Saudi Arabia (Rival) Singapore (Dollar) South Africa (Rend) Spam (Peseta A) Spain (Pesata B) Swedan (Krona) Switiailand (Franc) Switzerland Switzerland Taiwan (Dollar) Turkey (Lira) utd Arab Emir (Dirham) Germany (Mark) Germany (1 month) Germany 03a9 001207 004271 3 3)67 3 SMI 3u05 (Ml 9821 2003 1009 0072 0042 136) 7200 2976 4640 2094 0151 O' S3 2362 600 6067 6181 0277 0212 2637 1217 2329 5546 5571 M37 0369 00)208 004336 3 )H3 3 5887 X23 0439 9830 3009 U09 0072 0042 1X1 0201 2975 4640 2065 0151 0 52 2366 Lisotork Exraiibur Justheim 200 t 4 I A (W0 67 at 00 it iAajp 4 I'.S. BUTTER AND EGOS WASHINGTON CHICAGO (UPl) - Bulk selling prices (UPl) - Withdrawals of butter end eoos as reported bv U&DA end deposits in Treasury accounts tor the fiscal year through Oct 18 (rounded to Monday Buitr USD or tees paid 0 delivery the nearest million dollars) THIS YEAR 93 unchanged 92 score 127 $64 941 Withdrawals score 139 5MJI 3J $53,751 Deoosits to unchandelivery Eggs Prices paid 8H 986 Cash ged $02690 Prices to retailers (Grade A, in cartons Public debt 18 on Oct Revenue collections internal delivered) Extra large large 60 ' were 8l.i73 54 61, medium 5) bence - ). )tr 61 Treat-ur- n Grain MnPLt 21 Kellogg Kennctt Ky Util K Mart Kroger 21 6 64 96 9 119 32 30 15 713 7 2 04 52 8 1250 84 36 6xU9 L 340 Lehm 123b LevitzFn 60 S 68 5 IX L 0 F 230a 2 LOF pf 4 72 6 1631 Litton 10 3 31 littn cv pf 2 $ 391 Lockheed LTV Core 2 1460 LukenStl 96 6 39 M MacDonl 40 6 39 42 6 $5 Mery CHICAGO (UPl) - Wheat, corn and Livestock (UPl) bulk of supply will soybeans were mixed and oats fractionalauction later this ly lower at the close Monday on the fully tested on any Chicago Board of Trade to up 3 cents, corn Wheat was off 2 class to , and oats off to up Hogs 1.8QO, barrows and gilts 25 cents ort l to mostly X cents lower U S soybeans off 5 to up 3 cents their off lows came 32 Future prices lbs US lbs 33 25X4 7 5; 33 IM 25, US. 2 3 towards the end of trading Monday littncvpf the deterred of some 39 500 33u It Sows Traders X purchased under package lbs needy. 50b ibs. and heavier weak to months on ideas that continued interest hkes would Push up carrying US 75 cents lower be X00-2- rate There was 50 . 0 lbs X 00, hoars ISO charges on deferred months toward the 25, lbs some commercial Purchasing it end heavier 29 finished and sovban products 27 00 close 100. Sneeo slaughter lambs steady, significantly k xer tor the dav In price Mad Fnd factor a was Wheathar few lambs partial lb choict, prime slaughter movement Mondav with much rain o the MifiorH 12 lbs with No I peits 43 0044 aO, corn ard soybean belts However, the MrtnnO X ibs wooied 62 0063 X good Tuesday's advance receipts Cattle TOO maior factor in tea market inwes corn end movement Over the weekend hogs 2,500, sheep 100 con vtetch com, aspacalv soybeans, tributed most of the pressure MARKET INDEXES Although wheat futures finished mixed By UNITED PRSSS INTERNATIONAL there also was soma pressure on that NYSE index market from moisture in the wlntef ASE index wheat sowing areas Dow Jones Ind The outside markets were lower S 4 P 500 Stocks 60 i6 626$ 0277 0712 2637 1217 2329 555 5591 5648 Market- - KANSAS CITY, Mo Cattle 100, Monday be carried over for wee, price levels not the Counter rorntHv Interdutw pncto at o QuotdtioM from ttu NASO art aooroximatelv p m Intardeala, mark-- ,- chanoa Ntrouphn-- it ttu dav Todav'i duo tat ara provldad bv Foa, ar and Marthall Inc Prtcat do not Include marttup, markdown or commission Securities Bid af Further Boost It closed at 232 75 yen, up from 231 80 yen at the close of last week, but still Dynamic NEW YORK 23- 25 14 averages Huh Law High 2 155 6 17 1 6 67 y RegOCo 65 75 S Standard 17 00zj 17 SO St Metal 50 25 Teletrant 24 73 TinticMin 10 7$ U&l Inc 1)25 2 Iv 2 50 Und Park 73 1$ Utah Cons 2 37Vi 2 00 UtWvo 000 y DooneLISOU Jones Low Dow 3 18M 25 70 27 43 13 56 Uhls Stks 807 42 227 M 100 51 781 06 - (UPl) lads. -- 1W rl4 YORK range of Open 1,352,100, Utilities 771,700, 5.092,900 Ranee af prices this year: X Monday W W W 2 policies, the dollar advanced Monday to its highest level in more than a month against major world currencies European gold prices edged higher m quiet trading In Tokyo, even some $250 million worth of selling by Japans national bank a quarter of the days trading failed to hold the dollar down. DuPn Aeraji Transactions industrials 3J19,iD, Monoay - 6 41r34 Uruguay (Peso) Venezuela (Bolivar) SALES Croft Oil Buoyed by U S NEW YORK (AP) tight-mone- 21545 Stark hvrlianj: InU-rniouiitai- ii Dollar Value Increase s 8x76 0256 0733 1910 .6364 45 SUN $710 242,190 $213.459 474 15 65 31 COPPER FUTURES (UPl) - Coooer futures closed IS It 11 points lowar CHICAGO (UPl) - Gold Mur it Saies 1 500 contracts 40 to 320 pomts lower Saies Monday 5 9 COPPER 069 1 connects I Comas 25,400 Ib . cents aer Ib CHICAGO GOLD Prev Mercex 100 troy ; $ per troy ox Open Htati Law Clou 1 7 Ort M 15 Ciese Prev Lew MOOd le 80 Open the 81 55 399 00 Nov 87 It 401 50 403 X 393 60 396 80 M SOB Dec 88 10 NEW closing Stocks X Inds X Trns -- gold 86 50 5.55 l)ow-jo- n in 16ths YORK closed tO 70 0.89 Associated Press Chart I 90 00 56.90-0- .72 S.&P. Comp. 100.71 Dow Jones Ind. 809.13 d trans-Canad- 1,918 it ft City-base- ISSUES HANDY AND HARMAN SILVER HEW YORK (UPl) - Hnav Ard S1M5 Harman Monday ouotnd $llvar 045 trom Frida,. $0 ounca. down Mr NEW if Monday the nations remaining petroleum reserves for public use rather than reinvesting proceeds to rebuild replacement capacity. The Salt Lake Northwest Energy effort in spearheading cona struction of a pipeline to bring Alaskan North Slope gas to the U.S. still must resolve many hurdles before construction can start, he said. He noted that the Alyeska oil pipeline from north to south Alaska took 10 years to complete instead of the estimate because of original five-yea- r complications of the permit process. Construction is the easiest part of a project. The paperwork is the worst," he said 210 AmHosp AmStors range of on the AmTeiTei - He said it is a liquidation tax" bv which the government would siphon off SHARES DOWN 1,544 d pany will continue a major investment in energy search. Foreign Exchange refining 392 troy ounce Selling price, fabricated down 03 per troy ounce ',J ' for gold 40 25 4l 50 41 50 42 X 40 SO 41 20B 39 75 40 35 41 42 25B 50 42 35 41 25 X 35 42 25 41 Brmiers-XJ- NEW YORK (UPl) -closed Monoay 540 lo 350 points lower Sales 18,000 contracts NY GOLDCornel l trey ozt oer trov at Harman j7 unfaboceted 40 25 41 SO 40 X 40 00 41 90 I32MIB 116008 14000B Zurich ' Jun Jly Aug Oct Dec Przn - prankfunt NEW YORK Handy and 1 Engelhard Base price - 150Q0B 1180 I5I0UB i UNCHANGED - 101 poyyjs ft ton, forward pound lower with buyers ji 907 and sellers 909 pounds per ton Setts $ short-sighte- 45,240,000 Lower case letters appearing in front of the closing price indicates that price was on another stock (b) Boston Stock Exexinenge change (c) Cincinnati, (d) Detroit, (u) Midwest, (p) Pacific; g) NASmarket DAQ, the reported bv the National Association of Securities Dealers, (k) Instinet, the block trading system used by institutions Stk Div. Hg Sis. Hi. Lw. CIS. Chf Ib 905 VOLUME Atlantic Richfield chairman Robert O. Anderson says com- - New York Sloek Exchange: Final Quotations In PEOOU$ Richfield's acquisition of the Anaconda been resolved. Atlantic Richfield will sell off some undeveloped copper properties as well as its share of the Twin Buttes Mine near Tucson, Ariz. It will retain its Carr Fork properties in Utah and its Butte, Mont , properties, he said. Mr Anderson termed President Carters proposal for a "windfall profits" tax on the oil industry as extremely Co has Monday, Oct, 22 Markets Market: MWal YORK (UPl) Latest metal market price as quoted Monoay bv the Metal American Market, authoritative metals oubucation Aluminum, primary 99 5 oer cent plus 50c ID pure Su lb ingots 66 Antimony oomestic, rehned in alloy. 02c ib 200 U S delivered Coooer, eectrolytic, 25c Ib 95 U S pnmarv producers Lfino, common, 58 nor primary die US (secondary) producers 63 00c Ib Magnesium, 99 & per cent, ingot 109 00c said Mr Anderson said the firm's recent agreement with the Federal Trade Commission on its challenge of Atlantic New York Stock Exchange 500-stoc- k n 0 of k n NEW the Colony Among the prospects Project in Colorado, in which Atlantic Richfield has a 6 percent interest It was put on the shelf about three years ago because of permit problems and uncertainty about government pet roleum pricing policies "It will be one of the earliest candidates because of the uoik that is already done," he said As for copper Upside Cycle' The outlook is very good for the U S industry, he said A fiveto-1year "upside cycle in the industry appears to have started Nationalized copper properties in Zambia and Zaire have been hampered by lack of replacement machinery A major development in Iran appears to have been set back five to 10 years, he The Market In Brief index gave up .72 to 56 90. The American Stock Exchange's market value index lost 6 94 to 198 54. and the NASDAQ index of issues lost 3.43 to 133 16. industriStandard & Poor's al index lost .95 to 112 82 and the S&P composite fell .89 to 100 71 NYSE volume came to 45 24 million shares against 42.43 million in the previous session. Behind the Slide Underlying the market's slide are worries about rising interest rates. The Federal Reserve has been tightening credit m an attempt to stem inflation and two weeks ago boosted the discount rate charged by the Fed on loans to member banks from 11 percent to 12 percent Rumors circulated Monday that the Fed was about to further tighten the ci edit screws and tack on another percentage point to the discount rate. m shale plant voted by the Federal Reserve Board will tie felt immediately. However, he said the impact will not lie severe said G Monday he still expects the economy will sink into a recession, but that it will be moderate Aft U S production probably will fall olf at the rate of 2 percent a year or half a million barrels of oil a day, he aJdfd Mr Anderson said the decline m production will hasten the day that someone will build a commercial oil Miller Sees Moderate Recession said the impact the higher - Treasury interestalsorates earlier this month William Miller Secretary Utah On is a 1978, nine-mont- imports at 8 2 million barrels a da which means that coal particularly Western coal is the best short teim solution to the nation's energy problems, Robert 0 Anderson, chan man and chief exeeutne officer of Atlantic Richfield Co in involved :n the petrochemical industiy and in coal, copper and uranium mining Following the directors meeting, the company reported a 45 percent gain in third quarter net income to $ 120, 1H3. 00(1, or $2 01) a share, on a ?K percent gam in revenues to $4 4 billion net to That brought its or $6 70 a share, up 41 $822,936,000, percent on revenues of $11 6 billion compared to last year's $9 5 billion Directors declared a dividend of 70 cenis a share, payable Dec 15 to holders of record Nov. 5 That was the same as for the previous quarter and was up 10 rents over the year-ag- ezuela, the Un ited States anc the Soviet Umor are looking ai drops in produr tion President billion 7 Slope Arabia, Iran, Kuwait, Ven n declaration of 60 cents Mr Anderson, in a company statement, said increased production of Alaskan North Slope crude oil and continued improvement of wellhead prices for all domestic production were principal contributors to Atlantic Richfield's gains He said Atlantic Richfield is continuing to increase its capital investment in 1980 He said seventy five percent of its capital investment program will be dedicated to "energy related projects, with the strongest concentration on domestic exploration and production of oil and gas " Its capital investment in the third quarter was 14 times its earnings Mr Anderson told The Tribune that the Middle East states are producing oil at a rate that exceeds that under which reserves can most efficiently he recovered Those states are aware of the problem and are therefore cutting down on production diversified natuial resources company It has a manir interest in the Prudhoe Bav oil and gas field on Alaska's North pet s C rr Fork copper mine subsidiary Anaconda Co Atlantic Richfield, whuh had in 197S world of the in Tooele County World oil production prohahly peaked 4nd tn jted a newly and mill C 7 Ask J7I 10 " IS 750 718 354 818 23 218 29 44 229 X 169 90 13 995 96 6 x1361 80 X 7 x929 MGM M M M 2 X 9 1626 69 94 5 MtrmPL 2 X 7 X71 Mobil Mohasco 90 8 134 Mon tan 3 X 5 538 MonPw 204 7 IX 71 50 6 M Knud 30 9 1499 Motor la Ml Fuel 2 X 9 366 MtStTtl 2 12 7 X 32 MufOm J6 - N hob ivo SO 7 300 Ntl GvP 32 4 308 Ntl Semicon 11 350 7 NCR Co 60 4 545 Nev Pw 2 65 7 X Nw Park 20 2 502 44 4 277 NiagMo 30 9 696 Nu IndS NLT Cp 12 4 863 92 5 66 NorfkW Merck MerrllLy MesaPet X16H 15 17 19 17 14 18 X 21 X 27 L - 50- 10 6 4- 23 29 60 13- X - 1(- 17 44 17 16 5 14 72 30 3- JOv 4 r50 X M - 17- 21 9 17 23 13 77 28 57 16- 2g)9 2- -! -- 5 , 9- 14 - n 8 42 15 4h, 18 S 47 18 25 27 25 28 32 t 31 34 17 34 10 15 72 18 22 23 22 30 15 16 23 21 i )7 22 53 14 26 30 71 21 75 56 14 62 24 35 55 35 37 14 N 27 24 34 149 $- - )8 36 r9 45 19 II X k 74$ sr73 rll i 29 17 15 X k V X - 66- rX k 21 1 xl7 43rl4 66 25 26 25 23 14 24 65 r?l - - 23 II M ,, k 11 American Stock Kcliiinj;t 77 18 15 56 20 7 19- X- 31 k s r12 63 Bn 14 12 ITs 26k 19 30 23 22 - BevivE lib Circle 1)0 93 Coleman OavMn 25d Fed Rmour Frontr Gerber I 3M I 6? 6 13 33 4 20g JO 13 50 65 68 !7 99 9 22 X 19 9 y 4 13 15 9 7 19 - 15- - 1- 6- - 4 7 !J r9 9 - 43 l)H X - Ord Cent SO 4 Ld 6 20 6 Gultrm H MeansS 10 165 17 Resorilntl 4U700 Syntax U&Unc WardsCo 9 B 10 16d X 3 61) 3 I 13 9 )$ $ 14 2? 26 7 9 23k 83 44 1? 13 9I- - tl- - X -- 121 10 8- ,r |
