Market Bounce Sparks After Nixon Scandals Hits
Wall Street recovers from an early sharp drop as investors react to Nixon era turmoil. Stocks mixed as traders weigh resignations and firings tied to Watergate.
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 30, 1973
Page
13
Wall Street recovers from an early sharp drop as investors react to Nixon era turmoil. Stocks mixed as traders weigh resignations and firings tied to Watergate.
Chicago reports show soybeans surged on expiring May options influencing three commodity futures. Soybeans touched 7.4975 a bushel, a new high, with old crop options rising about 15 cents and new crop options slightly weaker. Corn gained about 6 cents, wheat up 1 cent, oats up around 1 cent. May prices near 7.482 for soybeans, 1.633 for corn, 0.902 for oats.
A fragmentary Washington High School item notes cash missing from a band event. The brief references a Davenport or Marycrest gathering and a Friday night program, with unclear names and places, leaving key details ambiguous.
The stock market showed a fair morning dip with the Dow Jones average for three industrials hovering around 922.86 at 2 p.m. after an 11 point morning drop. Trading activity was light as declines outpaced advances, while Amex and broader market indices moved unevenly, with cattle and grain futures also cited in nearby market notes.
Michael J. Eichhorn, 19, fled from Linn County deputies after a chase on northern Linn roads. He was stopped at Sun-lase Plaza with no license plates and faced charges including disobedience to a police officer, unlawful registration acts, and two counts of speeding. A potluck at Memorial Coliseum was scheduled for Tuesday at 6:30 p.m.
Wholesale dairy prices in New York show butter steady and creamery products fluctuating. The report lists Fancy orange and other grades with varying unit prices, noting 42 products and a 2 cent score move in the market.
A CR break in at Konecny's tavern on Sixteenth Avenue SW led to the theft of Ady’s Outbeard Motors. The incident followed reports of supply contract renewals and fluctuating gasoline deliveries affecting Lindale Plaza and Killian's customers.
Gasoline shortages may force cuts in city services and bus lines as Standard Oil and Texaco bid delays persist. Officials say supplies could tighten this summer, with public safety and essential operations likely prioritized.
The interior Iowa southern Minnesota hog markets show very slow trade while demand remains good. Butchers fall 23 cents with some instances 50 cents lower. sows hold steadier to 23 cents lower. Prices listed for various weight ranges, with weekly estimates and comparisons to prior periods. Also notes on cattle, calves, feeders, and market activity, plus silver market update from New York.
Five persons were treated at Cedar Rapids hospitals after weekend traffic accidents. Janet BR, Karr, 19, of 118 Thirty-third Street NE, admitted to St Luke's intensive care for a head injury after a one car crash Sunday afternoon, reportedly in fair condition Monday. Police said she struck a utility pole on Oakland Road NE after reportedly losing control while under medication from a local hospital. No charges filed. James Heslop, 34, of 1416 Second Street SE, treated at Mercy for a head laceration after a crash at Tenth Avenue and Eighth Street SE, and released. Passenger Marc Earet Hortkemeyer, 30, of 1248 Fifth Avenue SE, treated for a rib injury at Mercy and released. Heslop's car collided with a car driven by Flencil Cole, 43, of 2628 Third Avenue SE, Cole charged with failure to yield at a stop sign and Heslop charged with a license violation. A motorcycle crash about midnight Sunday at Gavemie and Shaver Road NE injured Charles J. Popetka, 26, treated for a forehead cut and released, and passenger Michael Preston, 26, treated for an arm laceration and released. Popetka said the motorcycle overturned after hitting a curb hose in Shaver Road. no charges filed.
Infant Angela Clare Puncher died shortly after birth in Marion. Survived by parents Mr and Mrs David A Dunshee of 20 South Nineteenth street, Marion, a brother Thomas Allen, a grandmother Alice M Dunshee, a grandfather Earl Potter, Cedar Rapids, and a great grandmother Blanche V Dunsh ee of Iowa City. Graveside services Tuesday at 3 PM conducted by Rev Earl Liebner at Cedar Memorial Cemetery Issued by local church obituary style notice.
Advertisement for AirAmerica financial Corp ten year subordinated debentures due 1962 offering 7 percent annual return with semiannual interest. Issued through Morris Plan Securities Co Cedar Rapids Iowa in $1000 multiples. Prospectus available. misprints noted about monthly interest certificates and residency restrictions.
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