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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 02, 1976
Page
18
The New York stock market declined on Friday with the Dow down 5.9 to 988.19 and losers outnumbering gainers 7 to 4. Traders cited ongoing trucking strike worries dampening economic recovery prospects as Western Airlines fell and overall market indices slid.
Cedar Rapids traders saw lower prices on Friday as bulk 200 to 230 lb butchers sold around 45.00 to 45.50 with heavier weights discounted. Packing sows at 300 lb held 40.00 to 40.50 while heavier lot reductions expanded up to 1.00 per extra 10 lb. Market notes show mixed adjustments across weight classes and related beef and stock-market mentions.
Yield data notes discounts on fat steers and yield grade S cattle. Price adjustments show $2 per hundredweight for average fat steer and $8 per cwt for yield grade S.
Livestock and grain markets show slow trade and mixed demand across cities. Des Moines reports weaker butchers prices with varied weights, while Santa Fe notes a prison smuggling case involving heroin in balloons concealed by a visitor.
Chicago Board of Trade status shows soybeans slipping while wheat and corn advance. Late gains tied to commission house buying, with May prices for wheat at 3.47 and corn around 2.65. oats and soybeans move as well amid narrow activity across markets.
District Court in Lian district hands suspended terms and probations for second offense drunk driving and larceny cases. Larry W. Edwards gets one year suspended sentence and probation for a second offense DUI. Lance Scott and Timothy Haege receive suspended terms for larceny. Donald Fleetwood’s charges are dismissed. Stephen Fitzpatrick faces up to one year for an escape. other youths face related theft charges.
Europe tones clocks to different daylight saving dates causing travel chaos as Spain France Italy Britain and Ireland adjust at varied times. GMT alignment lasts until autumn reverts, with hours and switch moments differing by country and even by city.
Cedar Rapids Mayor Don ald Canney called a preliminary Iowa senate tax bill a dramatic shift from farm to urban property. He cited news accounts noting farm land would be valued 100 percent on productivity, reducing farm values by about 16 percent, with city taxpayers likely to cover the gap. In Linn county per acre values could fall from 590 to 419 under the plan.
Des Moines ranks third in the nation for cost of living in the Inter-City Index on the Cost of Living for late 1975, with an overall 122.4 due to high health care and utility costs, while only food and transportation run below average. Among Iowa cities sampled, Waterloo is second to Des Moines, with Clinton, Cedar Falls, Sioux City and Cedar Rapids also above and below the national average in varying measures.
New York based report cites the worst underwriting losses in P C insurance history. Industry executive M Jay Wanamaker president of the Independent Insurance Agents of America says premiums will rise or insurance availability will shrink. He estimates last year’s losses near four billion dollars with auto damage among the biggest money losers.
An ostrich, the largest living bird, weighs as much as 48,000 hummingbirds, the smallest birds in the world.
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