Although the Dow Jones Industrial Average soared...

Although the Dow Jones Industrial Average soared 73.71 points to a new record high of 2935 last week, Monday was a give-back day as as the index plummeted 53.71, said Irving Katz, director of research at Thomas Green/San Diego Securities.

San Diego stocks had two casualties even before yesterday’s debacle. Last Tuesday, HomeFed reported an increase of $81 million in its non-performing assets during May, which followed its addition the previous month of $44 million to bad loans. This caused an immediate 25% drop in the price of the stock when it finally opened Big Board trading Wednesday morning after a four-hour delay.

The news caused disenchantment among the analysts, who were previously recommending the stock but who suddenly became wary of the exposure of HomeFed and other California banks and savings and loans to California real estate, Katz said. Over the weekend, Standard & Poor’s lowered its ratings of HomeFed’ debentures and CDs.

The stock continued to decline throughout the week, reaching a new low on Monday of $21.75. For the week, the stock was down a total of 34%.

The second casualty of the week was Wahlco Environmental Systems. This 80%-owned subsidiary of San Diego Gas & Electric went public April 24 at $13 and rapidly moved to $16.625.

But last week the company announced that it was canceling its plans to sell convertible bonds and that its net income for 1990 may turn out to be about 10 cents per share less than the company had estimated. The reason: Customers are delaying orders for flue gas conditioning systems until the federal Clean Air Act is passed by Congress later this year.

Wahlco has not made public its earnings estimates, but the announcement caused the stock to fall to a new low of $10, closing the week down 22% at $11 a share.

Other stocks losing more than $1 last week included Rohr Industries and DH Technology, each down $1; Cubic Corp., down $1.375, and Beeba’s Creations, down $1.125.

New lows were recorded last week by Intermark at $6.375, Beeba’s Creations at $6, and Precision Aerotech at $1. The only new high was recorded by International Totalizator Systems, which reached $6.25.