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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 26, 1979
Page
31
United Press International reports at 10 30 a m NYT composite prices for selected stocks across markets including NYSE Amex Boston Cincinnati NASD and Instinet data. Notable movers include Amex Kaiser Allied and Exxon with varied gains and losses amid a broad slate of corporate names.
UPI reports mixed U.S. market activity with the Dow Jones Industrial Average at 865.12, down 2.35 points, while the S&P indices show modest shifts in Industrial, Transportation, Utilities, and Finance sectors. Prev close figures listed for context.
UPI reports stocks declined in midday trading after a sharp March price rise and expectations President Carter won a windfall profits tax battle. The Dow fell to 862.35, NYSE index down 0.15, with utilities pressured by NRC talk on eight Babcock Wilcox plants.
Livestock trade: hogs in Iowa steady to lower with 43.00-44.50 for top 200-230 lb butchers and 39.50-42.25 for 270-300 lb sows. Receipts 90,000. Eggs: market steadier with light activity. Grade A large eggs ~49-51c per dozen at farms. Sioux City: hogs 44.25-44.75 for 200-240 lb. 42.00-43.50 for 260-300 lb. sows 41.50-42.50. Chicago grain and dairy prices unchanged.
Cedar Rapids market notes show hog prices down 25c on Thursday with various weight breaks and sow prices. Sheep market steady with Spring lambs quoted 67.00 to 70.00. Grain futures: soybeans and corn steady to mixed. No 2 corn at 2.38 April, soybeans 7.06 to 7.21 for May/June, new crop 6.72. oats around 1.58 old crop. Joliet livestock: cattle sales insufficient. hogs 1,000 head, price ranges 44.00 to 44.75 for 200-240 Ib, 42.00 to 42.75 for 260-270 Ib.
The dollar continued to fall on global markets with the Tokyo close at 217.775 yen, down from 218.175. The British pound traded at 2.4080 dollars, up from 2.0427, while Frankfurt and Zurich rates edged lower at 1.8918 marks and 1.7122 francs respectively.
The Greater Downtown Cedar Rapids Inc is asking for a semi moratorium on commercial rezonings in the southwest quadrant citing pending Edgewood Road and Iowa 149 developments. The planning commission will discuss the proposal next Tuesday, with Westdale Mall nearby and several new commercial projects in progress.
Procter and Gamble reports nine month net earnings of 462.995 million, up 13 percent from 408.038 million previous year, with earnings per share at 5.60 versus 4.94. Worldwide sales total 6.9923 billion, up 16 percent from 6.0363 billion. Third quarter net earnings 168.986 million, up 15 percent, EPS 2.04 vs 1.78, sales 2.4574 billion up 13 percent. Plant noted in Iowa City.
Esquire magazine may be sold by Associated Newspapers Ltd to the Sweden based Bonnier Magazine Group. Staffers say editor and publisher Clay S Felker may depart soon, possibly as early as next Monday. Felker did not comment.
An article in Sundays Parade examines skydiving safety, outlining risks, training standards, and safety measures. It cites statistics and expert opinions to compare injury rates and highlight best practices for enthusiasts.
Volkswagen considers a second U S plant to supplement New Stanton PA output of 800 Rabbit cars daily with a goal to reach 1,200 daily. A decision by year end linked to an expansion program. First U S facility may be an engine plant. 1978 sales rose 10.6 percent to about $14 billion. profits up 36.9 percent to $290 million.
Webster City Iowa livestock notes show hogs trading Thursday with trade and demand moderate. No. 1-3 200-240 lb butchers 44.00-44.25, 240-260 lb 43.50-43.75, 260-280 lb 43.00-43.25, 280-300 lb 42.50-42.75, 300-350 lb 42.00-42.25, No. 1-3 300-700 lb sows 41.50-42.00. Cattle offerings None.
Farmers State Bank president Morris F. Neighbor told stockholders at the annual meeting that 1978 earnings rose 10.1 percent over 1977. Assets reached 69,290,000 with capital of 5,229,105. new directors include Bowler Emmons Frederick Lensing Moyer Neighbor Sorg Shellenbarger Stuber Verhille. Dennis Earhart and John Hartman were promoted to vice president roles.
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