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Show w all street Mixed: 1 Market Up, Dow Jones Down .New York YORK Stock tinned heavy trudmg Tuesdays hectic session of Shearson-America- n Express. Fuels Upsurge Lewis said the upsurge would be fueled by increased institutional buying, improved retail sales, a continued abatement in year-en- d tax selling and stepped-u- p short-coverin- g. David M. Polen, president of David M. Polen Securities Inc., noted the market acted logically Wednesday by holding on to most of its large gains of Tuesday. He said the markets uptrend should gain momentum as the year-en- d seasonal reinvestment pattern develops. Some of the large capitalization issues, which posted large gains on Tuesday, dropped sharply WednesProcter & day on profit-takinGamble lost to 116V4; Merck was off 2Vfe, to 80V4; Eastman Kodak 2Y, to 92 Ya; and Minnesota Mining, lYa,to73. Leads Active List Another blue-chiAmerican Telephone, led the active list and rose Ya, to 60. The company Wednesday increased its offering of shares by 10 percent to about 18.2 million shares at $60 a share, or a total value of $1.09 billion. This surpassed the record $1.08 billion offering by the company in June 1981 when 18.2 million shares were offered at $57 a share. 2, In " v Brief r lu w.i'. m U I I I''s2 2 in m t n v.inlvi! v d.kkfhki iPiit.kK lkl 'lit l,i ll Ill ll . New York Slock Exchanqe Dec. 1, 1982 following which saw the Dow Jones industrial average score one of its biggest daily gdm!s in history. The Dow Jones industrial average, which was up 4 69 points at 3 30 p m. Wednesday, closed down 8 19, to 1,031.09, as late profit-takin- g erased most of the earlier advances The day befoie, the blue-chi- p barometer soared 36 43 points when many of the cash-lade- n institutions, such as pension funds, rushed in to purchase 'kicks. The Dows biggest one-da- y point advance was 43 41 points on Nov. 3. Market Healthy However, the overall market Wednesday performed better than the Dow. At the final bell, 983 issues on the New York Stock Exchange had advanced while 665 declined Analysts said thre was little in the economic news Wednesday to influence stock prices Turnover on the Big Board climbed to 107.9 million shares from 93 6 million shares on Tuesday and was the largest since Nov. 10 when 113.2 million shares changed hands. Despite the indifferent performance today the market is setting up for a robust year-en- d rally, predicted Charles M. Lewis, vice president The Market prices IIiiiimI.iv I)i i i'IIiImi as she can see with contacts. V in con iliimr 1 Wow my daughter' toolis as good Times Service fimshed mixed Wednesday NEW lies. ill lake until, pi ill,'Mi So tihik Ivi lt i i Ul.ll I Cdllltl I1UW I VOLUME It t.ll t t t Ir.tilr Mull ll INI It ,1! It to vjiu lici the light i ii eu ip tn ill Ami I n,h inju Am' tli.il nn tl.imtliUM 1km mu i ''hi1 huts, mui Imk-- - ni Ik'tU'i than sik t.m iul t'Ui un ''he''- - nit i si t l tl . Ixttei than e'ei. tm' ( PEARLED vision A StAHL COMPANY Ncbody cares for eyes more than Pearle. Associated Press Chart 1, to Becton Dickinson rose after reporting it developed a line of plastic laboratory ware for growing human cells outside the body. The company said this overcomes the difficulty in growing the cells on glass. techSome of the recently-stron- g nology issues also ended higher. to 90V4; Texas NCR rose to 137 Ye, Instruments was up and Motorola added 1, to 90. 45 Y2, 2, Brickyard Plaza 484-522- Crossroads Plaza 1, 521-350- Challenge Opponents In the same group, Rolm climbed a 3, to 48 Ya, after introducing telephone answering system with voice storage and replay features that will challenge systems recently announced by International Business Machines and a unit of Amen can Telephone but at a much lower pnce. Metromedia, the highest-price- d stock on the exchange, surged ahead 4 Y2, to 279 VY In the previous session, the issue climbed 8 points following the news on Monday that it completed the sale of billboards and related site leases of one of its divisions to Outdoor Advertising Associates, for $485 million. Some of the transportation issues also registered impressive gains. CSX Corp. advanced 2Y2 , to 54 ; Northwest Airlines rose 2 Ye, to 45 Vi; and Chicago Milwaukee, 1V4, to p, 1 2730 W. 6 3500 South 967-357- 5 6360 So. State 263-393- 1 locations also in Logan, Ogden and Orem f 55Y4. Index Up the Amencan Stock Exindex change, the market-valu- e was up 1.19, to 337.36. A total of 383 issues advanced while 268 stocks declined. Among the bigger gainers, Gulfstream Land & Developto 217g, even ment added though the company reported lower profits for the fourth quarter ended Sept. 30. In the market, the NASDAQ composite index rose 3.28 to a record 235.59 On 'k ( ' Hi i 1, er TEN MOST WIDELY FOLLOWED STOCKS IN UTAH Philanthropic Foundations Reassess Charity Support New York Times Service To meet their NEW YORK philanthropic commitments, a number of corporations across the country are drawing down the reserves of their company foundations and these resources may soon be exhausted, according to the companies executives. This could make it more difficult for the business community to increase giving at the request of the Regan administration, as the government cuts back on support for education, welfare and the arts. Hardest for Certain Fields The condition of company found-atnon- s is industry specific, said Mary Hall, vice president of the Weyerhaeuser Company Foundation. The financial predicament is hardest for those in certain fields steel, autos, timber, construction she expand farm equipment lained. In other industries, such as high technology, it is expected that company giving will increase. The Weyerhaeuser Foundation, created by the West Coast forest products concern, has maintained the level of giving by dipping into assets, Mrs. Hall said. "If we dont see an economic recovery in the next year, well have to make substantial cuts. Depleting Resources At Deere & Company, in Moline, 111., the downturn In farm equipment sales has hurt its philanthropic program, which has been depleting its resources in the past two years. The prospects facing company foundations, in general, is a somber one. according to a recent study by the Conference Bourd, a business-sponsore- d research organ non-profi- t, .....iV I. ization. In a survey of 750 companies, the board found that of the 400 with foundations, were distributing more money than they received from their sponsoring companies. The danger is that a prolonged recession could cause a further hemorrhaging in company foundations that have never been noted for their extensive reserves, said E. Patrick McGuire, executive director of the boards corporate relations program. 11 Increase Yet despite a 4 percent dip in corporate profits last year, companies across the country actually increased charitable giving ll percent, to a record $2.9 billion. Although a majority of companies said they planned to increase contributions in 1982, the rate of increase can be expected to decline, according to Kathryn Troy, a senior research associate of the board. A number of companies in prosperous years have given sufficiently large financial resources to their foundations so they are not depen dent on annual outlays from the parent company and can maintain their activities for at least a few years. Foundations Make Sense Maintaining a foundation as a buffer agauist drastic cyclical makes particular sense in a volatile industry, said James T. Ilosey, executive director of the United States Steel Foundation, one of the many philanthropies that has fulfilled its commitments but is giving away more thun it receives from the parent company Copyright Buys You Blue Cross And Blue Shield two-thir- Health And Dental Coverage. X ;lx X & y xA x 'A 1 - fluc-tatio- J: - . - a ' Blue Cross. 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