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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 02, 1971
Page
9
Stocks rose broadly amid labor settlement optimism with the Dow adding 8.03 points to 866.46 at 2 p.m. The NYSE reported almost 3 to 1 advances over declines as market chatter cited steel contract settlement and a rail deal easing fears. U.S. Steel announced a price increase within 24 hours.
On the Margentile Exchange in Chicago futures trading moved Monday with live beef cattle prices quoted across several contracts. Market activity showed shifts in demand and supply expectations for immediate delivery and deferred contracts.
In New York, Dr Italo Folonari of Ruffino outlines a major push to expand Veronese wines in the United States. Plans include spot TV advertising, tastings, and events in New York with Schieffelin Co and distributors, aiming to raise U.S. demand beyond 4 percent of Italy's wine export.
In Washington UPI reports a Senate vote on a House backed loan guarantee to save Lockheed from bankruptcy. Predicted by senators to hinge on two or three votes, the measure would back 250 million in bank loans to finish the Tristar jet with Rolls Royce engines, risking taxpayer funds and setting a precedent for government bailouts.
UPI notes steady butter prices with delivered costs around 0. ch per?o. Core price 7.784 and 92 score across six cas ebés. Retailer pricing steady for geari in cartons. Extra large 46 large 434 mediums 34-35. Total shipments 131 arrivals 126, demand moderate, market steady. Track sales list California lone white 4.50 and 3.60-3.90. Minnesota round reds 4.15.
New York AP USDA market notes show wholesale eggs slightly heavier with slow demand. Standards quoted at 32 1/2 to 35 1/2 cents, whites and fancy sizes ranging from 27 1/2 to 38 1/2 cents. butter offerings adequate to ample with slow demand. Creamery 93 score AA at 68 to 69 cents, 92 score A around 68 7/64 to 68 4/64 cents.
Omaha market notes hogs six thousand head with barrows and gilts steady to 25 lower and sows about steady. Calves and heifers mixed with gains in some classes while cows show mixed to weaker demand. Sheep and lambs steady with choice spring lambs around 92 to 108 pounds selling near 30.00.
Slaughter steers steady to higher with gains of 0.5 to 1.0. Heifers and calves mixed, with choice steers 1000-1300 pounds at 32.50 to 33.75 per hundredweight and heifers around 31.50 to 32.75. Sheep and hog values appear uneven as buyers adjust quotients amid lighter availability.
Chicago markets saw corn futures drop nearly four cents as traders priced in a large upcoming crop. Declines led by corn and wheat while soybeans rose slightly. cash grain quotes listed No. 2 hard red and soft red wheat, No. 2 yellow corn, oats and soybeans with current prices.
UPI dispatch notes slow trade and fair demand for hogs in Des Moines. Butchers generally down 25 to 50 cents, with larders mostly steady. Friday receipts 41 000. Saturday 28 000. week prior 85 000. year ago 86 000. Monday estimate 75 000. Market prices for various weight ranges listed for U S 1-3 and sow weights.
Waterloo market reports steady tone with 200 to 230 lb butchers at 18.75 to 19.25 and 270 to 300 lb packing sows at 15.75 to 16.25 with plant delivered 25 cents over. Postville prices list prime steers 33.0 to 34.50, choice steers 32.00 to 34.00, good and standard steers 22.00 to 25.00, choice heifers 31.00 to 32.00, beef at 38.00 to 28.00, utility cows 15.00 to 18.00, cannner and cutter cows 17.00 to 20.00, bulls 25.00 to 28.00.
Cedar Rapids market reports steady prices for Monday with Saturday deliveries of hogs 210 to 230 pounds at 18.75 to 19.25 per cwt. Sows 300 pounds down ranged 16.00 to 16.50 per cwt. Heavier butchers over 230 pounds priced 25 cents lower per extra 10 pounds to 260 pounds, and 50 cents lower per extra 10 pounds over 250 pounds. Packers discounts tiered by weight and grade, 300-360 pounds nine to five dollars off per grade, rising up to 500 pounds with 5 to 50 cent deductions. Lambs 95 to 110 pounds 27.00, 25.00 to 27.00 for good to choice. older sheep 3.00 to 5.00. Poultry and feed prices listed. corn at 1.17, soybeans 3.15, oats in delivery.
Senate Democratic Leader Mike Mansfield said action on the draft extension is probably not finished until September. He noted a filibuster buildup and a week’s extension until Congress’s month long recess, with returns not before September 8.
Cedar Rapids police pursued William P. Ferrel through Southeast Cedar Rapids Sunday morning. He faced four traffic counts and a larceny of a motor vehicle after the stop at Bever Park. Ferrel, residing at 1518 First Avenue NE, was charged with speeding failing to stop for a stop sign eluding police and driving without a license. The recovered truck belonged to Robert Smiley of Smiley's Home Entertainment Center at 1512 First Avenue NE. Smiley reported keys stolen from his desk. no other theft. Ferrel awaits arraignment in municipal court.
Hawkeye Bancorporation and its consolidated banks show six month 1971 net income of 563 933 versus 438 446 for the prior year. Primary earnings per share rose from 50 to 57 cents and fully diluted from 40 to 54 cents.
In Dillon County Iowa notices warn of probate of multiple wills. Richard E Greenman and Victor L Chudzinski named executors. Creditors urged to file claims within six months and debtors to pay promptly. Publication dated July 20 1971 with second publication August 2 1971.
Notice that Beulah Trumbull deceased had a will dated May 28 1960 admitted to probate July 27 1971. Rollo J Trumbull Jr named executor. Creditors must present claims to the court or be forever barred. Publication date August 9 1971.
Florence M. Smith deceased. On July 21 1971 the undersigned was appointed administrator of the estate. Debts to the estate must be signed and creditors claims presented within six months from the second publication. Dated July 21 1971 Wallace D. Smith Administrator Marengo Iowa Orville W. Bloethe Attorney Victor Iowa Second publication August 2 1971.
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