Stocks Fall on Unemployment Data and Bank Rate Hiccup
New York stocks declined after government data showed unemployment rising to 8.7 percent in March, with the Dow down 4.22 to 742.97. Bank lending rate expectations faded as First National City Bank kept its rate unchanged at 7.44 percent for the week. Gold shares and Sears Roebuck edged lower, while the NYSE composite index slipped to 43.10 and the broader market index rose slightly in another quiet session.
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New York
Dow Jones
New York Stock Exchange
First National City Bank
Sears
Roebuck
NYSE
American Stock Exchange
Cedar Rapids livestock and grain market prices report
Friday market notes show bulk hogs at 34.50 to 45.00 per 100 pounds, fat cattle and calves mixed by grade with prices from 24.00 to 39.00. Grain bids list No 1 yellow corn at 2.94 and a range of prices for other grain, with market activity steady to weak in Des Moines and Joliet reports.
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Cedar Rapids Nevalli Kel
Paukers Dre
Shyen
Frifan
Hawkeye Downs renovation progress reported despite weather
Hawkeye Downs facilities renovation proceeds with most outdoor work delayed by snowstorms yet expected to finish before June fair. Manager Harry C. Knight said horse arena could be ready for the Charity Horse Show, with interior repairs and furniture work continuing as weather allows.
MENTIONED IN THIS ARTICLE
Hawkeye Downs
Harry C. Knight
Knight
Fair Board
Leo Peiffer
Commodities End Slide After Short Covering Rally
Chicago futures ended a three day decline with gains as buying surfaced in the final minutes. Soybeans rose about 9 to 12 cents, May 5.87. corn up 2 4 to 3 4 cents, May 2.97 4. oats up 2 4 to 2 34 cents, May 1.54 44. wheat up about 1 2 percent, May 4 77 4. Cash grain prices show No 2 wheat and soy details, with limited activity noted.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Cash Grain
Chicago (Ab
Roe Ag Pte
Wiite
Soobwairy
EPA Drafting Rates On Throwaway Cans
The Environmental Protection Agency plans rules banning sale and use of throwaway cans and bottles at federal facilities. Federal cafeterias and installations would switch to returnable containers to save energy and reduce litter.
MENTIONED IN THIS ARTICLE
EPA
Washington
UPI
Environmental Protection Agency
EDA
Iowa Hog Prices Show Varied Demand Across Weights
Trade slow to fair, demand fair to good for hogs in Des Moines. No. 1-3 200-230 lb hogs quoted 36.25 to 40.50, heavier weights down to 34.25 to 36.00 for 270-330 lb, slaughter figures noted. receipts: Friday 50,000. week 28,000. year 62,000. Chicago market reports indicate USDA bulk selling trends flat with varied carcass values. New York wholesale offerings list but prices fluctuate across grades and sizes.
MENTIONED IN THIS ARTICLE
Des Moines
UPI
Two Andreas Associates Nominated to Bank Board
Two Andreas Associates proposed for Banks of Iowa board include C Bernard Jacobs of National City Bank Minneapolis and Berry Schwartz of Schwartz and Schwartz Enterprises. The move follows board resignations and ongoing Andreas influence speculation, with Jacobs and Schwartz holding notable share interests and potential for increased stake through future purchases.
MENTIONED IN THIS ARTICLE
Andreas Associates
Dwayne O. Andreas
Minneapolis
Archer-Daniels-Midland Co
Banks of Iowa
Cedar Rapide Bank
C. Bernard Jacobs
National City Bank of Minneapolis
Béry Schwartz
Marshalltown
Schwartz and Schwartz Enterprises
John Hamilton II
George Foersiner
Amana Refrigeration
Considera
Andreas
Iowa
Wall Street Journal
Schwartz
Jacobs’ Bank
Archer-Daniels‘Midland
Journ! S
Andreas Group Ia
Iuwi
Merchants National Bank
Lews
Corn Sweeteners, Inc
Cedar Rapids
Archer- Daniels-Midland
Jacobs
Family Nation
Witness Credibility Shaken in Wedelstedt Arson Trial
In the arson trial of Edward J. Wedelstedt at the Salty Dog site, accomplice Thomas Meade testified against Wedelstedt while accomplice David Hintermeister corroborated Meade’s account. Meade admitted previously claiming sole guilt under oath, and both men described Wedelstedt’s alleged comments and actions after the October 4 fire as part of the defense’s challenge to credibility. The trial sits with jurors set to decide next week.
MENTIONED IN THIS ARTICLE
Edward J. Wedelstedt
Thomas Meade
David Hintermeister
Meade
Wedelstedt
Salty Dog
West Post Road
Werfelstedl
Hintermeister
Ned Winder
Wederstedt
Aelsu Hintermeister
Altorway
Rock Island Drops Freight Surcharge Plan
The bankrupt Rock Island says it has dropped a $30 per carload surcharge on freight to avoid traffic loss. A Rock Island spokesman cites strong competition and recent rate increases as factors. Judges and regulators had pressured operation, with the ICC approving the surcharge earlier and a 7 percent general rate hike in place.
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Chicago
LPI
Rock Island Lives
Rock Island
ICC
Commission
Lawmakers Falter on Massage Outcall Bill in Des Moines
In Des Moines a Senate committee again fails to advance a bill banning outcall massage parlors and sexual contact for fees. Senator Eugene Hill proposed a provision to outlaw such acts, while debates touch on licensing massage therapists and health concerns. The panel postponed decision to study the measure further before next week’s meeting.
MENTIONED IN THIS ARTICLE
Des Moines
Eugene Hill
D-Newton
Elizabeth Miller
Marshalltown
Hill
Oregon
Gene Glens
D-Ottumwa
Heideman Family Noted in Gazette Error
Parents named for Thomas H Heideman were reported incorrectly In The Gazette Thursday The parents are Dr and Mrs Harold Heideman of Coggon Iowa not Mr and Mrs Joe Paskvan of Des Moines The piece corrects the lineage with the grandparents identified and the proper parental names.
MENTIONED IN THIS ARTICLE
Gazelle
Thomas H. Heideman
Joe Paskvan
Des Moines
Harold Heideman
Coggon
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