The Dow Jones Industrial Average continued to...

The Dow Jones Industrial Average continued to flirt with a new high since the October stock market crash, said Irving Katz, director of research at Thomas Green/San Diego Securities, trading at the upper end of the 1,900 to 2,100 range.

There were many plus signs in stocks as traders and institutions decided en masse that now is the time to invest. Only a month ago, these same investors had been standing on the sidelines awaiting a further drop.

Monday’s surprise was the announcement of the planned merger of San Diego Gas & Electric and Tucson Electric Power. SDG&E; stock was up $.375 Monday and $.50 for the week. Customers of the combined companies should benefit from the expanded transmission system, reliable economical fuel sources and improved efficiency in operations.

Shareholders of SDG&E; would receive one share of the new company, and Tucson Electric shareholders would receive 1.725 shares.

Triton Group gained $.75 for the week as it finally announced the sale of its 89%-owned subsidiary, Continental Graphics, to a management-led investor group for $17 a share--$16 in cash and $1 in stock. Triton would realize a gain of $80 million, or about $7.50 a share.

Triton Group is 41% controlled by locally based Intermark, which gained $.375 for the week.

Other good gainers this past week were Price Co., up $2.25; Foodmaker, up $1.125; Advanced Marketing Services, up $1; Home Federal Savings & Loan, up $.875; and Cipher Data Products and Agouron Pharmaceuticals, each up $.75,

A new high was hit by Pancretec at $4.625.

Mail Boxes Etc. gained $1 for the week, taking into account a 20% stock dividend issued this week. Fabulous Inns split its stock 2 for 1 and closed the week unchanged as the stock price moved from $4 to $2 on twice as many shares outstanding.