STATE OF BUSINESS: Shock Wave from Suez

As the Middle East crisis flared and flickered last week, the New York Stock Exchange reflected the developments hour by hour. Led by big international oils like Gulf, Royal Dutch Shell, Standard Oil (N.J.), some stocks bounced up more than two points in an hour, then slipped back. By week's end the Dow-Jones industrial average had dipped to 480.67 for a 4.68-point loss. Only steels were consistent gainers, and there the star was Lukens Steel, makers of heavy steel plate for ships. Jumping as much as 12 points a session, it shot 34½ points higher during the week,...

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