History/kanter/dt1st/mark2nd

40 YEARS AGO THIS WEEK: Lots of records were set: The Dow Jones Industrial Average ended 1958 at an all-time high of 583.65 L.A. bank debits set a new annual record, reaching $72.9 billion in 1958, compared to $70.6 billion for the previous year California Bank reported record annual earnings of $4.21 a share, compared to $3.85 a share in 1957.

THE NEWSMAKER

Robert M. Williams, a professor at UCLA’s Graduate School of Business Administration, unveiled the school’s annual economic forecast, which was more dour than those of most of its peers. Where most economists projected an 8 percent to 10 percent jump in U.S. economic activity, UCLA placed the gain at less than 5 percent.

THE NUMBERS

December 28, 1958

Dow Jones Industrial Average 572.73

London silver 75.88

New San Fernando Valley home $19,500

Mahogany hi-fi with mirror bar $286