Stocks Drift in Mixed Session; Dow Gains 0.85

The stock market drifted through a mixed session on Friday, hesitating after its advance over the past four days.

The Dow Jones average of 30 industrials edged up 0.85 to 1,837.04, closing out the week with a gain of 43.87 points. Most other, broader market measures finished slightly on the minus side.

Volume on the New York Stock Exchange came to 124.11 million shares, down from 156.92 million on Thursday.

Goodyear Tire, caught up in continuing takeover speculation, jumped 3 to 41 1/2 and led the NYSE active list on turnover of more than 5.5 million shares.

American Telephone & Telegraph dropped to 24. The company said it might take a substantial charge against earnings in the fourth quarter to account for cutbacks in facilities and employment.

Energy stocks were mostly lower as traders awaited the outcome of a meeting of Organization of Petroleum Exporting Countries ministers. Exxon fell to 68 1/8, Amoco 1 1/8 to 66 and Atlantic Richfield 1 to 55 5/8.

Declining issues outnumbered advances by about six to five on the Big Board.

Bond prices retreated slightly as interest rates edged up in thin trading.

The U.S. Treasury’s key 30-year bond, which fell about $5 per $1,000 face amount late Thursday, was off just 5/16 point by the end of the day. Its yield rose to 7.84% from 7.80% on Thursday.

In corporate trading, industrials fell 3/8 point and utilities were down point in light trading.

Among tax-exempt municipal bonds, general obligations and revenue bonds were down point.