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Value of Orange County Stocks Falls Estimated 37% Since Oct. 2

October 27, 1987|JOHN TIGHE | Times Staff Writer

The stocks of most Orange County companies continued to lose value in Monday's broad market decline, with some local issues falling to their lowest levels in several years.

The market's unprecedented descent has wiped away 37% of the average value of the common stocks of Orange County's 100 largest public companies since Oct. 2. The loss was 9.3% on Monday alone.

The average loss for all U.S. stocks was 8.4% Monday, while the average stock on the over-the-counter market, where most Orange County stocks are traded, fell 9% in value.

At Monday's close, the average share price of Orange County's top 100 companies was $7.11, contrasted with $11.30 on Oct. 2.

Distributed Logic was the county's biggest loser Monday, falling $1.50 per share, or 40%, to close at a record low of $2.25. Since Oct. 2, when the stock closed at $6.625, the Anaheim-based computer parts maker has lost 66% of its market value.

Other big losers Monday include Newport Electronics, down $1.125, or 29%, to $2.9375 per share; Comarco, down $1, or 28%, to $2.50 per share; and SPI Pharmaceuticals, down $2.50, or 26%, to $7 per share.

Clothestime, one of the county's most heavily traded stocks Monday, closed at $5.75, down $1.25, with 335,700 shares changing hands. The Anaheim-based retailer's common stock has fallen 64% since Oct. 2, when it closed at $16 per share.

Bridgford Foods was one of the few stocks gaining ground Monday. The company closed at $11, up $1 per share.

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