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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 29, 1958
Page
13
Chicago and Des Moines reports show butcher hogs and cattle prices largely steady with some firming in slaughter allocations. Hog receipts around 9,500 head in Chicago with prices near 190 to 225 pounds and various weights. cattle and sheep receipts reflect mixed bids and ranges across sizes and grades.
Stocks fell with broad fractional losses and more than a dollar drop in heavy industry shares. Trading volume reached 2,190,000 as declines dominated the session.
Readers see a dense report of financials and commodity prices with references to traders, banks, and industrials. Highlights include price shifts in soybeans, corn, hogs, cattle, and stock quotes for major firms such as Allied Gloves, Lockheed, Procter Gamble, and General Electric, alongside grain and dairy values and market activity in Chicago and Cedar Rapids.
Chicago reports May wheat rising on moderate export business and short-covering. Large open interest remains, with traders noting many trades merely to even commitments. Prices firm, May at about 2 27 44 per bushel while corn remains unchanged.
EQGA reports steady conditions with 20,000 cases and moderate demand. Arrivals and receipts edge higher while prices show limited movement. In Minnesota, North Dakota and Red Valley areas, value stands around 38074.30. A local TV show features charades on Channel 2 Tuesday at 8 30.
Iowa Liquor Commission tentatively approves a Washington Iowa store despite opposition from locals. Officials expect construction about June 1 and will consider supporters and critics before a final decision, noting the nearest store is 22 miles away in Sigourney.
Iowa City report says Virgil Glessner 47 of Oskaloosa drove a Cedar Rapids taxi when charged with bank robbery. He posted a 300 dollar bond and was released pending further action.
New York AP reports American Tobacco Company shows first quarter net income of 12 909 000 dollars, up from 6 16 million last year. Earnings amount to 1.78 dollars per share versus 1.44 dollars a year ago.
Hollywood AP reports Corinne Grifith former actress plans to divorce George Marshall owner of the Washington Redskins team. She says there is no villain in the play and that she could not learn football despite trying. no other man was involved.
S5Ulowan from Stanley, Kay Gustafson, daughter of Mr. and Mrs. Alvin Gustafson, will graduate in June from the University of Iowa. She has been awarded a graduate fellowship at the University of Southern Times for the coming year, covering full tuition of 1080 dollars. Her major is music education.
A 30 member Russian agricultural delegation will pause in Cedar Rapids for a day in July en route to the West Coast, then stay about 12 days in the Rockford area. The visit is part of a mutual exchange program with a Russian goodwill tour in August by KCRG. Several Iowa business and civic leaders are listed as participants and hosts for the planned trip.
Washington AP report quotes Theodore Iserman warning that growing union power threatens the nation more than Soviet military strength. He cites Mine Workers, Steelworkers, and Teamsters influence, notes wage driven price rises, and advocates business allied political organizing modeled on AFL-CIO strategies to counter union power.
Maytag shows net income up 6.6 percent for the first quarter of 1958 from the prior year. Net income for the first two months reached 3 812 341 dollars, vs 1 700 374 dollars in 1957. Consolidated sales totaled 25 501 693 dollars, down slightly from 25 717 0xx, a smaller drop than the industry average.
The Manchester Lions Club will sponsor an Aunt Jemima pancake day to raise money. Funds will support a Manchester marching band trip to the Lions International convention in Chicago this summer and aid the California student exchange program.
Three residents of iThree C R were injured Monday afternoon in a two car crash at Johnson avenue and Twenty first street NW. Mrs Edward Schiehle age 47 suffered a broken right ankle while Richard Barnes 21 of 608 Third avenue St both drivers were treated for minor abrasions along with Schiehle at St Luke's hospital.
Ozark Airlines notes an anniversary in Cedar Rapids marking its first year of CLR service. In 12 months the carrier carried 12 321 passengers to and from Cedar Rapids and handled 105 795 pounds of air freight and 47 459 pounds of air mills. The airline operates three daily flights to Moline Davenport Peoria Springfield and St Louis with nonstop service between the Quad Cities and St Louis. Northbound service provides three daily flights to Rochester and the Twin Cities.
President Nasser lands in Moscow aboard a TU104 jet for an 11 day visit. Thousands greet him along flag lined streets as Khrushchev and Kremlin leaders host a warm welcome. He thanks the Soviet Union for its aid during the 1956 Suez crisis and emphasizes peace.
Daniel Caton Rich, director of the Art Institute of Chicago, resigns to lead Worcester Museum in Massachusetts. He says the move is unrelated to the Churchill paintings dispute, which involved a traveling 35 work collection being blocked. A separate London item notes John Mac Queen, 45, fined two pounds for dousing a neighbor's basement rock and roll party.
Local items list hospital patient at Mercy and multiple community happenings. Cedar Rapids groups including Coin Club meets at YMCA with auction, Business Men’s Breakfast at Alcove, and PTA stamp sale details. Community members travel, appointments, and club meetings noted with names and places across Marion and Cedar Rapids.
The State Crop Bulletin reports about 80 percent of plowing complete and some corn already planted. Planting above last year’s pace and above the 10 year average, with most fields in the southern region. About 1 percent of the expected crop in the ground, more planting expected this week if weather stays favorable. Stands of small grains good and moisture generally favorable.
Bertha Neetner of Toddville known as Mrs Bert Baker, 75, a 19 year resident of Atalissa and former Cedar Rapids North Liberty resident, died in a Muscatine nursing home. Survived by husband and relatives. Services arranged at Snider's funeral home in West Liberty.
Ford vice president for finance T. C. Yntema told a Senate economic subcommittee that a temporary two to three month tax suspension could lift the nation from downturn. He suggested resuming tax collection at a low rate thereafter until unemployment falls below 5 percent.
Washington AP Gen Nathan Twining told Congress some US forces are ready now to strike back within 30 minutes of attack even without Eisenhower administration legislation. Critics seized on his comments to challenge proposed military reorganization and the scope of joint command powers.
Hollywood AP report says Richard Skelton, 9 going on 10, shows no progress in his leukemia battle but appears to be holding steady. He missing school, is tutored at home, and visits UCLA medical center weekly for checkups as his father reduces out of town work to stay by his side.
Eunice Meeham of rural Mason City died Monday night from a fall down basement stairs. She suffered a fractured skull and multiple injuries after reaching for a light switch while visiting her brother in law Arthur Nelson in Waterloo.
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