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Show y y y jf y-- 1 y-- y inry y',irry'y- yf 't"' - y "tii V yry rHyin'nif fy y y"fy..fit ymyeyyMiaMiryn rir h. IJI y illy y,- yn ,y- - Willi Street Action The Sait Lake Tribune, Saturday, April 24, Market Caps Week With Strong Advance By Chet Currier; Associated Press Writer The Market In Brief NEW YORK The stock market capped off the sixth week of its spring rally with a strong advance Friday, aided by news of a drop in the consumer price index. Energy' and some issues set the pace in the seventh busiest session in flew York Stock Exchange history. The Dow Jones average of 30 industrials gained 9.04 to 862.16, bringing its rise for the week to 18.74. , Since h the average is up almost 65 points. Big Board volume reached 7 184 million shares, up from 64 47 million Thursday and the heaviest total since 76.06 million were traded on March 9 Before the opening, the government reported that the consumer price index its dropped 0.3 percent last month first monthly decline since August of New York Stock Exchange Friday, April 23, 1982 VOLUME 71,840,000 SHARES ISSUES UNCHANGED 398 mid-Marc- TRADED 1,895 DOWN advance estimates hadn't been for anything quite so dramatic. Analysts said the news provided some of the strongest evidence yet of success in the battle against inflation. But they also noted that it was symptomatic of an economy struggling to recover from a pervasive recession. Traders got another surprise after the close when the Federal Reserve reported a $1 9 billion drop in the money supply for the week ended April 14. Predictions had generally been for an one. increase, possibly a good-size- d But the credit markets showed little initial response to the figures. Rates on Treasury bills and bonds, generally little changed for the day before the report, barely budged in the trading that followed it. In the stock market, a half dozen energy issues showed up on the active list, most of them sporting gains of a point or more. Superior Oil rose 2Vi to Schlumberger 2 Vi to 47; Stan34; to 32; dard Oil of California 1 Standard Oil of Indiana 1 to 42; to 40, and Exxon Atlantic Richfield 456 1965. -- Associated Press Chart Wall Street had been expecting favorable news from the figures, but most Recession to ILLUSTRATION BOARD try's fortunes are tied to the jgeneral economy, sayS the senior vice president and chief operating officer of the Motor VehiAscle Manufacturers 6a GRUMBACHER 300 MODELING PASTE he 20 said in an interview in Salt Lake City. High in- terest rates have been devastating to vehicle sales, he noted. Dealers who also have to pay the rates on unsold cars have been hit hard as well. The economy, he says, should rebound in late Reg. $6.75 OFF fs' sM (BmamMtR)dmiSp blades! New anatomical handle and Dial for instant height and position changes! STRETCHED CANVAS Multi-Mati- and CANVAS 20 lb. New 3 OFF Salt Lake City GRUMBACHER OIL Titanium White Reg. SALE $6.45 $4.99 Davis County Dicks Home Center McIntyre & Hilton Lawnmower Hospital Joes Lawn mower & sports Builders Rental Cooks Lumber Com. c Equipment Jordan Nursery lb. SALE $5.06 grasscatcher Satisfaction Center Powered Products Bountiful Small Engine J & L Garden Center n-- JHE QUIETEST, MOST ADVANCED 370 South West Temple Downtown 83 West 3300 South South Salt Lake 2263 East 4800 South Holladay 1084 East 7200 South Midvale 355-171- 4 Locations with Free Storeside Parkinj 1 1 485 hJL cautiously optimistic about such predictions. 1 1 COT&P5M2 1 1 1 n EXCLUSIVE ddo powered products, Inc. NORTH 500 WESTBOUNTIFUL, ANOTHER CARLOAD JUST ARRIVED ntiaiiiGu liHfMLtflT & NEW ROTARY SERIES IN THE WORLD! neueuM HUe5 3 485-202- 278-493- Earnings Up in 81 c PANELS JL Sale ends May 8th They are 1983. wtm fl39 275.80 SALE $2.25 Reg. $3.00 GESSO and have shut down. We have got to get out this recession, il Watercolor Paper 140 Auto and truck sales, says Thomas H. Hann, Detfoit, are off some 30 percent from a peak in of General Motors, which showed the best results in a mixed pattern of auto sales reports, rose 1 to 44. Ford Motor was up at 22, and to 5 Chrysler added One exception to the upward trend was Cray Research, off 3 at Zi as some analysts lowered their earnings estimates for the company this year. The daily tally on the NYSE showed more than two gainers for every stock that lost ground, and the exchanges composite index added .76 to 68.25. Nationwide turnover in NYSE-liste- d issues, including trades in those stocks on regional exchanges and in the market, totaled 83.18 million shares. At the American Stock Exchange, the market value index gained 2 41 to ARCHES sociation. and plants Warner, a member of the Senate Energy Committee which reported out the bill late last year. Warner, who authored the bill, said oil shale development is crucial to establishing the countrys energy independence, which in turn is essential to national defense. The bill, which reflects measures introduced by other senators, would triple the number of leases one person or company could hold and would authorize the interior secret The Quietest Rotary Mower Engine in America! Deck "vacuum-lift- s grass The automobile indus- 1978. said energy independence, aH3uQ3iPD Quashing Car Sales ary to lease larger tracts for shale exploration and mining Currently each titleholder can hold only one 5.120-acr- e oil shale lease The measure also would let the interior secretary lease land to be used as dump sites for spent shale after the oil is removed Oil shale is considered one of Americas richest untapped reserves if reasonable ways can be found to mine the shale and extract the oil Critics argue the measure would allow destruction of unspoiled land scape, especially m Colorado's Western Slope regionl Sen Gary Hart. . said Colorado could not meet economic and environmental pressures stemming from shale exploration. WASHINGTON (UPD Questions remain to he answered on how Ui safely drill for oil shale on government land but Sen. John Warner, a , said the pi x ess is important to national defense I strongly believe our military posture is only as strong as our 37. 28. II 7 Shale Importance Stressed International Business Machines, the volume leader on turnover of more than I 21 million shares, climbed 1 to 65 Among other leading glamor issues. Texas Instruments gained 2 to 92 ; to 64; Digital EquipMotorola 2 ment 2 to 81, and Burroughs 1 to mid-Apr- 1982 UTAH 84010(801) Open Till JnL 295-41- 41 FRI. NITE $ P. Special to The Tribune BOISE Albertsons Inc,, which operates 416 grocery stores primarily the West and Midwest, reiMirted increased net earnings and sales for the year ended Jan. 28, m 1982. At the end of the fiscal year, it reported sales of $3,480,570,000 as compared with $3,039,129,000 last year or an increase of 14 5 percent. Net earnings were $48,478,000 at the end of the fiscal year compared with $40,690,000 last year or an increase of 19.1 percent. Earnings per share were $3 14 and dividends this per share year compared with $2.64 and last year. 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