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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 03, 1979
Page
17
A dense compilation of U S stocks with numerous company names and price changes. Labeled figures include Dow components and industrials, with standard and poor indexes and Amex data, reflecting a broad market snapshot from the period.
Des Moines reports the Federal State Market News Service notes a fully steady market for live hens with prices mostly 1/4 to 1/2 cent higher than yesterday. Trading moderate and supplies adequate in the north, short in the south. Prices listed in cents per pound for forms and commercial stocks 9-10c, 9 2-10c.
UPI reports a quiet Friday with the Dow off about 2 points to 845.81 and the NYSE index down to 59.28 as 1,688 issues trade. Government data show July unemployment rising to 5.7 percent, while NYSE turnover runs 16.88 million shares. Midwest pork and beef markets show varied price shifts amid steady to firm demand in places.
Friday market results show butchers 200 to 230 lb at 35.50 to 35.75. Sows under 550 lb 27.00 to 28.00, over 550 lb 26.00. Heavier cattle top steer trade at 57.50 and heifers 56.00. lambs 55.00 to 57.00. Grain futures quoted in Chicago with soft red and hard red winter prices noted.
The Consumer Product Safety Commission recalls about 1,000 WFL Hearth-Glo wood burning circulator heaters with 11 by 13 inch glass doors and 10 by 12% inch frames. Similar 9 by 13 inch doors are not involved. Jackes Evans Manufacturing Co. of St Louis conducts the recall. sales occurred through hardware stores nationwide from Nov 1977 to Oct 1978. No injuries reported. Consumers should contact retailers for a free replacement door.
UPI notes slow hog trade with moderate demand and firm butchers. Prices for No 1-2 hogs range 35.50 to 36.00 for 200-230 lb, while sows 26.50 to 28.50 per 300-600 lb. Grain futures show soybeans down On August crops and new crop, corn futures mixed with white corn steady. Reports include Joliet cattle and hog sales with higher rosters and varying weights.
Rep. Neal Smith D Iowa returned to Des Moines for congressional recess Friday declining to react to a letter from Iowa Beef Processors president Robert L Peterson alleging a politically motivated vendetta. The Des Moines Register reported the letter that also cites star witness Hughes Bagley and notes ongoing hearings this fall.
General Growth Properties Inc announces liquidation of its vast real estate portfolio in 26 states after a year-long bid battle. Trustees say pursuing a sale rather than a merger could unlock more value for shareholders. The Bucksbaum family, owning about 15 percent, sought to buy the remaining 85 percent as Marathon U S Holdings bids escalated. The firm owns Lindale Plaza and Town and Country in Cedar Rapids, Iowa, among properties in 25 other states.
The dollar opened slightly higher against most European currencies in a subdued session. Gold prices were mixed with Zurich at 289.125 and London around 289.25 before sliding to 288.50 at the London fix. In Tokyo the dollar finished the week at 216.90 yen while London saw the pound recover to 2.2805 per dollar from 2.2680.
Chrysler Corp board in New York votes to omit the third quarter dividend on common shares while declaring 68.34 cents on preferred stock payable Sept. 15 to record holders Aug. 13. The company reported a $207.1 million loss for the second quarter, the largest quarterly loss to date.
UPI notes Friday livestock trading in Webster City with hogs steady to higher on demand, butchers up 25 cents, sows steady. No 1-3 hogs 210-250 lb priced 36.75 to 37.00, 250-280 lb 35.50-36.50, 300 lb 34.50-35.50, 300-350 lb 31.50-32.50, No 1-3 300-700 lb sows 39.00.1950 cattle nane.
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