BUSINESS Stock /Λαrkef Slips W e a k e n i n g in business activity a n d uncertainties of business o u t l o o k force investors to sidelines XNDICATIO>CS OF REDUCED ACTIVITY in
business, first noted in these columns of the May 2 1 issue in connection with lo\ver activity in April as observed by, several chemical firms, were translated into lower prices for common stocks in the past t w o months. As a point of reference, t h e Dow-Jones average for the 3 0 stocks making u p the indus trial group reached its peak of 524 early in April b u t thereafter declined to a low of 464 on May 28 with only one intermediate rally late in April. The decline in stock prices of over lY/c was spread throughout t h e list of stocks, b u t the correction in prices in many individual stocks has been far greater. F o r better perspective on the market performance of t h e Dow-Jones stocks, brokers have prepared statistics showing t h e total decline for individual issues from peak prices reached in 1955 or 1956. Among the chemical stocks, Monsanto had t h e unenviable record
3030
C&EN
JUNE
18,
1956
of t h e largest percentage loss, 22Vc, followed by D u Pont 209fc, Olin Mathieson 199c, Hercules Powder 179c, Al lied Chemical 16V
