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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 12, 1979
Page
27
Stocks listed by United Press International show Abbott Lab at 13.32, Aetna and Allied Chemical among many names with varied price changes. The table covers a wide array of industries from auto to oil, with notes on bids, last prices, and percentage changes reflecting market activity across eight markets.
United Press International reports selected Amex and NYT stock quotes at 11:20 AM. The bulletin lists prices and percent changes for companies including Adobe, Banister, CrownC, DoyMn, FisherPrt, LoewsTh, MitchiiE, Syntex, Teleflex, USFilter and others with fractional quotes and daily shifts.
S and P hourly indexes in New York show key figures for industry utilities and financials. Prev close figures are listed for sectors including industrials and utilities with slight changes in values and percentage shifts.
The Federal Home Loan Mortgage Corp proposes new credit and appraisal rules to relax debt ratios and property considerations. Officials say the measures aim to broaden access to home loans, with guidelines finalizing this summer and targeting added lender flexibility nationwide.
Livestock notes show moderate hog trade with good demand and higher butcher prices for Friday Easter closing. Hog weights 200-300 lb mostly 41.5 to 46.0 per hundredweight, sows 39.0 to 41.0. Eggs priced by grade with Large 52-54c, Medium 43-45c, other grades lower. Receipts about 75,000 hogs, egg market shortages noted with strong demand and packer turnaways.
The report covers Good Friday market delays for hog reception, Cedar Rapids hog and cattle prices by weight and grade, with steady sheep prices for Spring lambs and soybean and corn futures movements. It notes Friday cattle and hog receipts and price ranges across 200-260 lb hogs and 900-1,050 lb cattle.
Sioux City hogs sold briskly with prices up 25 to 50 cents and large numbers traded. Cattle market showed sparse sales with firm prices on select slaughter steers and heifers. Des Moines reports mixed beef pork trends with steady to higher prices on various cuts and ranges across several weight classes. Chicago futures quotes for wheat corn oats and soybeans rounded out the market snapshot.
Robert B. Faxon of the Cedar Rapids Marion Area Chamber of Commerce outlined ten growth factors for the Cedar Rapids Marion region. He cited current employment at 82,000 with annual industrial expansion and new commercial starts, plus plans for downtown redevelopment, a Cedar Rapids mall, and the Five Seasons Center as key drivers of future growth and improved transportation, library facilities, warehousing, and regional health care.
Brenton Banks Inc parent of 17 Iowa banks reports first quarter 1979 net income of 993 257 up from 885 740 a year earlier and consolidated assets of 605 302 854. Interest income climbs to 11 548 567 and the quarterly dividend rises 20 percent to 23 5 cents per share payable April 30 with record April 17.
Woolworth rejects Brascan’s 35 dollar per share takeover offer as grossly inadequate. Woolworth officials attack the bid as unethical and possibly illegal while Brascan chairman Moore defends the offer and vows to push ahead for Woolworth stockholders to decide.
Tass reports the Soyuz 33 crew Nikolai Rukavishnikov and Georgi Ivanov failed to dock with the Salyut 6 space station due to deviations in the approach-correction unit. The cosmonauts began preparations to return to Earth after the failed linkup. Vladimir Lyakhov and Valeri Ryumin remained aboard the space lab.
The dollar strengthened versus most major currencies this morning while gold prices continued to fall. In Tokyo the dollar closed at 213.85 yen, up from 213.45, and in London the pound traded at 2.0845 dollars, down from 2.0871. Frankfurt's rate stood at 1.8975 marks, up from 1.8955. Gold quotes were $234.75 in London and $235.125 in Zurich, down from $236.125 in both cities.
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