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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 16, 1939
Page
5
Threats of war keep business cautious while auto output edges up. Industry shows mixed signals with steel and power demand down, carloadings slump, and consumer sales in Wayne County double year ago levels though overall optimism fades. Wholesale orders focus on immediate resale.
Local blog item lists numerous permits from Walter Lake to Doric firms for new dwellings, garages, remodels, and commercial work. Amounts range from 30 to 12 000 dollars, with projects including service stations, reroofing, and relocations across multiple streets and neighborhoods.
Special to The Gazette reports Hopkinton Reform Presbyterian Church undergoing repairs and redecorations. Services are held in Lenox college YWCA and YMCA rooms while a new furnace is installed and the building is shingled. Decorating contract awarded to local painter J. J. Dunlap.
The following quotations are not firm bids but indicate price range of recent transactions. Those interested in issues not quoted should write the financial editor at The Gazette Cedar Rapids Iowa.
A compact listing of Iowa based securities and bonds including Central States Power and Light, Iowa Public Service Co, Iowa Southern Utilities and related entities with series and rate details. Also notes on Sioux City Gas and Electric and Western Grocer Co including preferred and common shares and accompanying percentages.
Cedar Rapids Clearing House reports $1,095,617.14 in bank clearings for the week ending April 15, down from $1,213,765.15 the previous week and $1,125,781.59 for the same week last year.
C. V. Shepherd, general agent for the National Life Insurance company of Vermont, leaves today for Montpelier to attend the executive meeting of the general agents and managers association, of which he is president. He plans to visit the New York World's Fair and attend the American Red Cross Washington national meeting.
The Sidwell Oil company of Maquoketa buys from George Ireland Jr. the building and lots now leased by Howard Day who runs a filling station. Possession will be given July 1.
Chicago traders saw grain prices fall in a brief session as President Roosevelt urged Germany and Italy toward long term peace pledges. Wheat and corn declined with May and September contracts slipping, oats and rye also down, soybeans steady. Winnipeg and international markets showed mixed moves on stocks and prices.
AP market notes show no sales reported for cash wheat in Chicago. Corn bids listed No. 2 yellow at 50 50 and No. 2 white at 55c. Oats quoted white 33c and sample grade white 28 31. Seed prices include Timothy around 50 60c, clover seed red at 13.00 17.00, red top at 9.25 9.75.
AP report notes Saturday receipts at 163 cars, down from 82 last year, with quotes for No 1 heavy dark northern at 73 to 75 cents, No 1 dark northern 73 75 to 75 cents, No 1 hard Montana 79 80 percent protein, No 1 dark hard 71 72 cents, No 1 hard amber durum 66 78 2 cents, No 1 red durum 60 12 61 2 cents. Corn No 3 yellow 43 45 cents, oats No 3 white 26 28 46 cents, barley 30 66 cents.
Eggs receipts 31 152. mixed colors and grades with prices from 14 to 20 cents. Butter receipts 514 537 with creamery and higher than extra at 23 to 24 cents. firsts 22 to 25 cents. seconds around 21 to 22 cents. Cheese receipts 296 968 with prices unchanged.
Chicago AP notes steady butter and eggs receipts with moderate supplies. Potatoes show varied listings from Idaho russet to Bliss Triumphs with prices ranging from $1.10 to $2.20, plus lard tierces and bellies reported with loose pricing around $5.52 and $8.6.
Robert E. Yaw joins Ambro Advertising in Cedar Rapids as account executive and director of merchandising. He studied at Coe College and the University of Iowa, spent time in Europe on retail promotion methods, and previously led advertising and sales promotion at Killian company. Ambro expands services as staff grows to nine serving clients in Dubuque Mason City Jefferson Amana Springfield and Chicago.
William Tehel of Tehel Bottling works announced a Pepsi-Cola convention to be held at the Montrose hotel on April 25. More than 100 bottlers and wives from Iowa Minnesota Wisconsin and Missouri attend the one day session with W. O. Robertson of Chicago presiding and speakers including Louis Martin Harmody J Gill Whitcraft Muhl D. W. Clark W. H. Kolstead G H Trengrove Louis Petty and J. G. Gantz. Tehel will give a welcoming address and host a plant tour. A banquet will close the gathering.
William W. Cress, now in Iowa City, sold his Riverside plumbing and electrical business to Paul Wagner of Iowa City. The new Riverside Plumbing and Heating Co will be led by Mr. Cress with Wilfred Bouquet remaining with the shop.
C A Menold sells his Strawberry Point variety store to N H and W F Pegen of Independence. Immediate possession given. The Pegen brothers also operate variety stores at Manchester and Independence.
The Franklin Institute reports five chemical and glass companies have spent about $6,000,000 over six years to develop a new elastic safety plate glass with two to five times the shatter resistance of existing types.
The New York stock market hit year lows last Tuesday as most shares fell. A swift recovery the same day suggested a ready market, and by Saturday favorable news sparked a sharp rally with leaders climbing 5 to 8 points from Tuesday lows. Listed are the 12 most active stocks with quotations from Jas. E. Bennett & Co. and comments by W. H. Jump.
In Saturday trading on Wall Street the stock market recovered broadl y after President Roosevelt's peace plea to European dictators. Averages rose with industrials up 3.37, rails 1.07, utilities 0.68. Strong gains led by autos, steel, and major firms like American Telephone and Union Pacific.
Stocks higher and moderately active with bonds and U S governments rising. Curb and Chicago stocks gain. Foreign exchange soft versus the dollar. Cotton futures steady while grains in Chicago show wheat down about one third to a quarter cent, corn easing. Rubber futures firm and silver in London unchanged at 20 pence per ounce.
Mrs. Almeda Bell of Cedar Rapids opened the Star grocery on Saturday in the former Clover Farm store once owned by Leonard Bohac of Cedar Rapids.
The National Consumers Tax commission places America's 1939 tax bill at 14.7 billion dollars with an estimate that about two thirds will be collected indirectly as a hidden component of retail prices.
Chicago market notes show hogs steady with 200 lb averages around 7.15 to 7.25, good and choice weights 160 to 350 lb down 15 to 25 cents, sows slightly lower. Cattle receipts about 100 calves with varied demand. top heavy steers around 13.75, yearlings 13.50, heifers 11.00, costs near 10.30. Sheep receipts 2000. fat lambs 50 to 60 cents higher, top lamb 10.50, good lots around 10.00 to 10.35, clip lambs 8.50 to 9.00, ewes 5.50 to 6.25.
Conveyances and mortgages recorded in Linn county for April 7 through 13 show total mortgages aggregated at 74,700 dollars with zero new conveyances. Compared to the same week last year there were 97,330 dollars in mortgages and 87 total conveyances.
Grinnell's 1939 model home remains open for inspection through Tuesday. Built by D. E. Miller and Charles Lindhorst from their own plans, it sits on a landscaped lot with insulation and an air conditioning heating system. The residence features three bedrooms, a nursery, two baths, a living room, dining room, kitchen, and recreation room.
Fred H. Law will become vice president in charge of the traffic department of the Illinois Central system on May 1, succeeding Charles C. Cameron who retires after forty five years with the company. Roy E. Barr becomes freight traffic manager in charge of commercial work and William Haywood becomes freight traffic manager in charge of solicitation.
Copper steady at 10.50 to 10.75 spot with export 10.13. Tin unchanged at 46.75. Lead steady around 4.75 to 4.80 with East St. Louis at 4.60. Zinc steady at East St. Louis spot and forward 4.50. Notes also list pig iron aluminum antimony quicksilver plate and Chinese wolframite in the market.
Linn County Board notes numerous payments to telephone companies grocers druggists and service firms. It records vouchers for poor relief rent fuel tools office supplies and inmate or jail related costs. Endorsed by Fred Stirm chairman and Robt Vesely county auditor with adjournment to March 21.
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