Show 32 — The Herald Journal Logan Utah Sunday January 7 1979 Stocks make good gain in week’s active trading - Stocks responding to a (UPI) rates have peaked interest stronger dollar hopes that and a calming in Iran kicked off 1979 with its best gain in four months this week Trading was active as investors brushed off negative news The Dow Jones industrial average which lost 346 points last week and 2616 points for all of 1978 rose 2572 points to 63073 That was the largest advance since it climbed 2641 points the week ended Sept 6 1978 It was the best first-wee- k performance since 1976 when the Dow scored 5242 points According to William LeFevre Grainger & Co vice president the market never has lost in the third year of a Democratic president's term President Carter is the first Democrat since Woodrow Wilson to have two NEW YORK The nation’s basic money supply declined S600 million in the latest week and this took pressure off the Fed to tighten credit and boost interest rates now at four-ye- ar highs 1 C 1 GTE240N3-4up1GaPK 110 74 7 0 0 up Gillette 140 Goodrih 132 IS 12 oil 31 Goodyr 110 4 4 OCKMH NOVIMMI ' MCIMMI ' JANtlMV (up 1 2 Ralston 50 11 Rathon 140 50 10 InlndStiMOMupSO B AA 1374304up I IntHarv 2 10 38 up I S Inti Paper 2 30 I I up 31 IntIT&T 220 20 up 3 0 JohnMv 100 24 140(111 up up 1 72 23 KnighIRi 4023 3-- RonsonCrplll RoperC 180 21 7 Sup RoylD 404d 41 1 0 up Kcncotf40d20)4upl0 KeMcG 125495-- up off UnOCal 240 M Un PK 210 54 3 4 Uniroyl Inc 430 UtBrnd1Sdl11-2up7US Gyp 100 27 12 RCA Cp 140 27 up 14 Rep Stl 100 7451up Roy Ind MOM up ReynMt 10035 Robrtsn 170 27 up 5-Rockwll 24015 up I 1 USSteel 140 Oil Kopprs12020upll Kraftln 280 45 up 1 1 Kroger Co 2 IS 14 oil 3 0 LehVal Ind 2 0 Watgrnl30 25 13 0upl4 4 Wa Water 2 22 0 4 Good to choice dairy cows and Smaller common dairy cows S625 High yielding heiferettes $47 to 52: Utility and commercial cows $40 Canner and Cutter cows $35 to 43 Bulls $41 to 5350 Killers Bulls $6275 Hereford stock steer calves $75 Yearling Feeder steers choice quality 550 to 700 lbs $60 to 6850 Choice Feeder steers over 700 lbs $57 to 63 Hereford stock heifer calves $65 to 68 Yearling heifers $52 to 60 Holstein steers 300 to 500 lbs $60 to 78 Holstein steers 550 to 600 lbs $51 to 60 Over 800 lbs $50 to 56 Choice fed steers $55 to 67 Choice fed heifers $49 to 54 Fed holstein steers $50 to 5470 Holstein heifers 300 to 500 lbs $400 to 550 Holstein heifers 500 to 900 lbs 500 to 810 Lambs $59 to 6125 Hogs $44 to 46 New born bull calves $4750 to 79 per head Market: The market is strong Smaller cattle very strong and faster Good supply of buyers with good : demand on all classes Small calves 4 to 5 dollars cow S1350 - wuilnc 40 21 3 4 Off Xerox Cp 2 M up ZenithRad 1 14 I S up Monsan 1200 5 Mon Dk 150 14 MonPw204207-Motorla 120 41 Ml Fuel 220 31 rfTRD CTADMID 1 loll up 10 up 7 0 Oil 14 MISITcl 208 MIS Nabisco 150 25 oil I S Natl Can 44 ISI S oil 50 NtlDiStl 170 9 IS Nil Gyp 132 17 7 Soil 14 NatSteel 2 30 NCR Corp 143 NiagMo 144 14 ' Person noodod for Gonoral Solos and stock work 4-- 5 days per week 9 am to up up 30 up 4 up 3 6 NortkWI142314005 ' pm SMIT11FIELO IMPLEMENT SS3-3C- 40 Mas A rvr ApMiMii V 9(£Oi( taunt 'AfiXt 'At VI 2 1 I 1 11 m -- 01 t 5-- S A i 14 UP up WhlgPitt Stl 12 White Motor 7 oil I f WOOlWh 140 It UP higher 00 upS-- WesthElt7l7 e 1(U I3i up WUnion140145-0up1- up 11-LTVCorp7 12up 12 LukenStft41451 up S O iuSm ll‘l! 4 WsBanc1M2550 Lockheed 22 17 12 up I McDonD 40 34 up MGM11044UP11-MidSou 152 15 Mobil 440 70 1 4 oil 10 i n n (I f C)i if S 1 UnitTel 144 It 14 oil I S Upjohn 112 4t UV Indust 122 7 0 up 10 3-- 20 up I 245-Su- UtdTKhn24lupll SafwStr 240431-- up 13 StJMnrl 130241-StRegis 1002t Sears 112a 20 up SfiellOil 100335-- up 11 SimmnsColtl-SkaggCo 00 20 up 3 0 Smithkl 180 tl upl SoCI Ed 240 Moll 8 MarshF 124 The Dow Jonies average of 30 industrials closed Friday at 83075 registering a weekly change of up 2572 The stock market closed out its best week in four months with a broad gain Standard 6i Poor's indexes for industrials transportation finance and utilities also are shown UnCarb2SOM12uplt UnEfccl44 14 14 up I S PuS Col 140 1711 Pullmn 14030 II up 14 MrthnO22054upl2 Top dairy heifers S700 fl ProcterGalOOMuplS 1C Inds 140 253 Idaho P 220 25 up IdealBa 140 73 inco Ltd 40 17 liig Rand 3 47 (Smithfield livestock 0 3-- 4 Houstln2M20up1 Litton Indus Texas Inst 2 15 up TexPcL40d44 Textron 100 25 HoH 10 Timken 240 50 1 2 odl 3 Transom 1 14 up Trans WCp It oil Tricon 227d It 11 up TwCF 120a 321-UALIncrpIll 38 up 1 LlggGrp21-2371-4up- 1 ol TeleprgmpllllupIO Tennco22030l4 Tcxko224 I2 PepsiCo 1 Moll 50 Plizer 12014 11 up Phil Mo 705 71 7 8 up 11 Phil Pet 120 12 IS up 51 Polaroid 1 51 5 8 up PPGlnd 172 25 up 5 1 Honywl 220 72 Horizon Cp 7 Kmart 1 2 17 Pennzoil 2 30 SO ' Homstk1l032up50 DuqneL 172 15 7 Soft! 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4 AmBrands450 l4 Am Can MOM 1 2 up S AmCyanl1-22510ot- straight losing years Further LeFevre said if the first week in January turns out to be a winner chances are that the month will be a winner and history shows there's an 60 percent chance the entire year will end up on the plus side The New York Stock Exchange index rose 179 to k index climbed 5541 and Standard & Poor's 302 to 9913 Advances routed declines 1699 to 237 among the 2086 issues traded Veteran observers were encouraged the market showed strength in the face of adverse news and suggested the rally might have indicated traders are skeptical about predictions the economy will slip into recession Others were less optimistic about the market They thought most of the gains made this week were the result of investors replacing borrowed shares they sold earlier at the profit The economic news was mixed November construction spending rose 14 percent December new factory orders edged up 03 percent compared with 4 percent in November Nondefense capital goods orders a key future economic barometer fell 88 percent following a 102 percent slide the month before The dollar's rebound abroad was a major factor in the rally The stock market's fortunes have paralleled those of the dollar in recent months Central banks intervened and there were rumors that Carter attending an informal summit conference in Guadeloupe would take further steps to aid the Closing stock prices |