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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 12, 1976
Page
10
New York stocks opened lower then firmed with the Dow fluctuating around 970 while IBM reported first quarter earnings of 3.63 a share, up 24 percent from a year ago, though investors eyed results for disappointment.
The Cedar Rapids hog market held steady Monday with Saturday sale prices for country and plant delivered butchers at 47.50 to 48.00 dollars per cwt for 200 to 230 lb pigs. Sows around 41.00 to 41.75 per cwt at 300 lb. Butchers 230 to 240 lb fetch 25c less, 240 to 250 lb down 50c, over 250 lb down 1.00 per 10 lb. Packers see 25c cuts per range to 400 lb, then 50c further to 600 lb. Yield grades 4 discounted 2.00 and grade 5 by 8.00 per cwt.
Across Des Moines Waterloo Sioux City Omaha and Chicago markets, cattle hogs and lambs show varied price moves with mixed demand. Notable quotes include lambs 54.50 at Sioux City and hogs around 49-50 at several yards, while feeders and sows show steadier trends and shifts in cutter values.
Soybean futures in Chicago rose nearly ten cents a bushel as corn and oats showed mixed moves. May soybeans settled around 4.88 a bushel, wheat fell about 3 to 4 cents, corn slipped 34 to 44 cents, and oats were steady to up 1 cent. Livestock trading in Des Moines was moderate with butchers mostly higher and receipts lower than prior weeks.
Police report a shotgun blast shattered a window at Cliff Abild Construction Co. on 3500 I Street SW. No injuries noted and investigation ongoing.
Lee Abrahamson, 38, of 6301 Devonshire drive NE, was not formally charged with drunk driving by the Linn county attorney. He was arrested by Cedar Rapids police on a drunk driving charge early Friday in downtown Cedar Rapids. An assistant county attorney said a formal charge was not filed because breath test results were fewer than the statutory presumption of intoxication, and a charge of disobedience to a traffic signal was filed instead.
The Justice Department closed its inquiry into Internal Revenue Service Commissioner Donald Alexander with no evidence of criminal charges. Attorney General Edward Levi said the probe, which began October 30, examined four related allegations, including Project Haven and contacts with a tax subject, and found no substantiation. The investigation involved FBI agents and grand juries and ended April 9.
The 1975 welfare rolls grew with 266000 new AFDC families totaling 3.5 million, while the overall welfare bill rose 21.4 percent to 24.2 billion. Medicaid cost 13.9 billion, 56 percent of the total. AFDC payments surpassed 9.2 billion. Welfare for unemployed father families rose 33.6 percent with about 30,000 new AFDC units.
Halifax April 12 North Carolina provincial congress empowers its Philadelphia delegates to join other colonies in declaring independence from England. An observer notes the patriots are spirited and unanimous, determined to die hard.
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