Business: If & And

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Like Pioneer IV, Wall Street's bull sped into uncharted territory last week. As trading on the New York Stock Exchange boiled up between 3,900,000 and 4,800,000 shares daily, Dow-Jones industrials hit a peak of 611.87, or 175 points above the 436.89 low of a year ago. Not even tough news could jolt it. The index gave up only 2.35 points on the Federal Reserve Board's discount-rate hike (see above), closed at 609.52.

Such a broad and bright market led many an investor to play the old stubby pencil game of "How much would I have now if . . ." If he had bought 100 shares of some stocks, even at the 1929 pre-crash highs, he would now have a pile. Examples, counting stock splits and dividends, but not counting cash dividends and rights, of how each share multiplied: Stock '29 High (One Share) Last Week Number of Shares Now $ Total Value

Dow. Chem. 495 86 110.8 9,529

IBM 255 527 17.3 9,117

Kodak 264¾ 153¼ 7.7 1,180

Alcoa 539½ 83⅛ 12 998

G.E. 403 80¾ 12 969

Du Pont 231 225½ 4 902

Goodyear 154½ 129¾ 4.6 597

Zenith 62½ 233 2 466

Standard (N.J.) 83 52¾ 6.7 353

G.M. 91¾ 46⅛ 6 277

But an investor could also have lost on some blue chips. For example:

Stock '29 High (One Share) Last Week Number of Shares Now $ Total Value

A.T. & T. 310½ 241½ 1 241½

Western Union 272¼ 36½ 4 146

N.Y. Central 256½ 26⅝ 1 26⅝