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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 05, 1934
Page
6
Trading on Wednesday saw corn and wheat price gains amid a current downturn. May corn rose around 2 cents, wheat firmed near 83 cents, while oats held steady as moisture and liquidation influenced early trading in the belt. Cash market showed little change with modest receipts.
Grain movement reports show Chicago and Minneapolis handling notable wheat receipts and shipments. Data lists weekly figures for No 3 dark, No 2 red, and durum categories with price indications and comparisons to last year, reflecting regional grain activity and market prices.
Financial markets held steady with dull trading on Wednesday as rails utilities and reading industries showed little movement. Du Pont and U.S. Steel led modest gains amid firmer metals while transfers topped 1.5 million shares and talk of news around the corner lingered.
Chicago and New York market notes show receipts and steady demand for potatoes and butter. Prices vary by grade and region with mixed futures for butter and no sales reported for potato futures. stock levels and shipments listed for several regions including Minnesota, North Dakota, and Florida. grain and dressed poultry details noted.
Miscellaneous prices and rates list commodities including red clover and flour in Toledo and Minneapolis markets. Foreign exchange quotes for Great Britain France Italy and others are shown with cent values and several country currencies.
Traders weigh frayed demand for municipal and corporate debt as yields drift and activity remains subdued. Analysts note liquidity concerns and cautious positioning ahead of upcoming economic data releases in mid May.
Henry Ford stated in a press interview that Ford will not raise prices despite recent increases by other automakers like Chrysler, General Motors, and Studebaker. He attributed higher costs to feed into a broader price strategy, emphasizing Ford’s stance amid industry changes.
Nudism rises cited but weather lags as spring clothes urged. Local ads list vegetables fruits and dairy items with prices such as lettuce $2.75 and cranberries $2.25. Also notes wholesale pr ices and various farm products including calves horses and eggs.
Local market hogs show no price changes across grades with prime hogs holding at about $3.45 per hundredweight. Prices vary by weight from about $2.15 for lighter packs to $3.35 for heavy hogs, with premiums paid based on quality and condition. Calf market and feeder meats noted with steady ranges and quality distinctions.
Seven transients questioned at Marion confess using fictitious identities after booking at the county jail. Chicago youths dominate the group. six cite Beloit as home. Victor Gregory, 16, from Chicago, is held as authorities seek confirmation from Chicago.
A district court jury before Judge John T. Moffitt deliberated on Willis A. Baxter’s $10,000 personal injury suit against Nora M. Whitney. Baxter suffered severe injuries from a September 1932 crash near Dixon Illinois, when a Whitney car driven by Arthur R. Osborne struck a bridge abutment on highway 0.30 with Baxter as a passenger.
Trustee Crissman seeks 6845.31 in a bankruptcy case against G W Thomas T H Thomas and E J Thomas. He alleges salary overdrafts and conversion of firm assets by T H Thomas, including unsecured notes and $600 in property, with defense claiming any claim is satisfied. The case opened before Judge F O Ellison with a district court jury in Cedar Rapids.
Athens Premier Tsaldaris rejected George Pop's request to submit Samuel Insull's forcible seizure by Turkey to the world court at The Hague. In Istanbul, Turkish authorities ignored Insull's claim of losing American citizenship as they moved to return him to Chicago for trial.
In Vinton district court Mrs Calvin H Boggs testified about her husband the 41 year old former Garrison minister dying after an argument with Everett Howe 35 Garrison farmer. She recounted Howe striking him on the head with a gun after a question about what he was hunting for.
Speaker Rainey named a five member committee to question Dr. William A. Wirt about charges of brain trust plots to topple Roosevelt. The panel also heard a dairy league spokesman claim AAA economists seek to wreck cooperative milk marketing.
Privately several members of the brain trust said they would comment if invited by an investigating committee. Rexford Tugwell declined to reply while noting his book includes the discussion. Jerome Frank mused on defending free speech and recalled Garner’s quip about a communist label. Secretary Wallace’s assistants cited his role as a charter member of the Committee for the Nation.
Clarence Knutson of Clear Lake urged adopting a gross income tax to replace the new retail sales tax. Speaking in Davenport he said the next legislature will face the tax issue and that only the gross income tax can provide a real replacement. He argued the tax shifts from property to the dollar and that the dollar turnover fairly measures ability to pay.
General Motors announced Wednesday price increases across its lineup. Chevrolet added 30 dollars to all master series models and 25 dollars to standard lines, with commercial models up 20 dollars per car. Pontiac up 20 dollars, Buick up 65 to 136 dollars, LaSalles 100 dollars, and Cadillac V-16 models boosted 300 dollars.
Reported near reconciliation between Douglas Fairbanks Jr and Mary Pickford following his Italy Spain trip. Possible England as the reunion scene with a post reconciliation bicycle trip discussed. Also note penguin populations in New Zealand Australia and the Falkland Islands.
Tracy Beach 80 died Tuesday at 3 p.m. in a Cedar Rapids hospital after suffering a stroke on March 29. Born March 2, 1854 in Berlin township Knox county Ohio he lived in Ohio before moving to Iowa in 1894. He was a carpenter and member of the Lisbon Methodist church. He is survived by three sons, a daughter, nineteen grandchildren and five great grandchildren. Funeral services Thursday at 2:30 p.m. at Yocom chapel, Mount Vernon burial in Mount Vernon.
The Senate backed a 5 percent levy on earnings above 121 percent and a 25 to 35 percent tax on improperly accumulated corporate surpluses, with other tax tweaks including a raised earned income allowance and adjustments to excise taxes to reach a balanced budget by 1936.
D P Hogan president of the federal land bank of Omaha told realtors that since the emergency farm mortgage act in May the bank completed land bank and commissioner loans totaling over 122 million. Nebraska Iowa South Dakota and Wyoming borrowers account for about a quarter of all land bank loans nationwide.
Thirty seven Grinnell high school vocational agriculture students visited Cedar Rapids on Wednesday. They toured TM Sinclair and Co packing plant Quaker Oats the power plant of Towa Electric Light and Power and The Gazette with chaperones Laird L. Jones C L Braley Ed Larson and Dr W R Kinzer.
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