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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 08, 1975
Page
9
U S stocks closed broadly mixed as Dow fell 3.91 to 819.70 and the NYSE composite slid 0.07 to 96.03. Traders cited possible easing of rate hikes but noted higher lending costs after U S Steel and other steel firms raised prices.
Rhodesia leader Smith will travel to Pretoria for talks with South African Prime Minister Vorster on a constitutional settlement between Rhodesia's African majority and its white government. Observers weigh a possible constitutional conference to be held in South Africa.
Cattle and hog quotations drifted in Iowa and Minnesota with large packer inspections and varied weights showing mixed results. Buyers noted steady to higher tendencies for butchers while sows remained mostly firm to higher, with regional price spreads and weekly receipts contributing to cautious trading across packing plants and auction houses.
South Korea proposes North Korea meet at Panmunjon on August 25 to discuss resuming long suspended political talks on peaceful coexistence and reunification. The report notes varied market data and prices for livestock, commodities, and shipping in New York and Chicago, reflecting a chaotic OCR page.
Irregular trading in Chicago grain pits saw soybeans near 15 to 20 cent losses and wheat futures down about 10 cents while corn and oats slid around 5 cents. Reports cite Russian tensions and speculative selling as key factors, with several contracts hitting daily limits and prices fluctuating across September delivery.
Police report breakins at two trailers near Kirkwood Boulevard Southwest yielded tools valued between 8,500 and 4,000 dollars. Items stolen include a transit level, automatic grade bent, blower, laser surveying machine, hammer drill, and other equipment. No values listed for one trailer. Evidence points to NGF Guerdt Construction Co. and Tom Bower & Sons Construction Co. as owners.
In Harrisburg a grand jury appearance for Patricia Hearst case witnesses Micki McGre Scnte and Martin Millero is postponed to August 18 to allow defense time to quash subpoenas. Judge R Pixon Herman granted the 10 day delay over government objections as the jurors continue the probe into alleged harboring of Hearst at a northeastern Pennsylvania home. Mrs Scott's husband Jack, a sports activist, is also subpoenaed.
Oklahoma City based Wilson & Co announces a temporary halt of box and supply operations at its Ontario plant through September due to adverse economic conditions. Five vice president and COO Senry S Amalong stated shipping and select processing will continue to serve nearby customers using company jenms. The Cedar Rapids plant reported reduced hogs. ongoing operations shift to preserve supply and area ticker for livestock.
Life Investors Inc reports consolidated net earnings for the three months ended Time 30 at 17.081 million dollars or 19 cents a share. This beats the prior quarter’s 18 cents but trails last year’s 26 cents. Full year earnings per share are 37 cents vs 76 cents for the first half of 1974. President Ronald L. Jensen says quarterly earnings should continue to accelerate with a possibility the second half could exceed 1974 levels.
Canada reports July consumer price index up 1.4 percent driven by higher food prices and a special excise tax on gasoline. The annual rate increases to a percent, government officials announced Friday.
A cyclist Paul James Babur, 43, was hospitalized after losing control on a patch of oil on Collins Road NE near Center Point. Police report he crossed the patch, veered off the westbound lane, and the bike overturned. A bystander and a truck driver suffered minor injuries. all treated and released. Police noted other Thursday crashes, including a child hit while crossing First Avenue W, and a separate two vehicle crash on Fourteenth Street SE with charges for failure to yield. The motorcyclist Charles Alan Kamberling sustained a head injury and was treated at Mercy Hospital after his bike slid on a gravel patch behind a restaurant. No charges were filed in that incident.
Malina N Moores of Cedar Rapids files a 50 000 suit in Linn district court against William Janzen alleging Janzen enticed his wife Barbara away and ruined their marriage since their 1970 marriage. Moores claims 28 000 for distress and 25 000 for punitive damages. He was arrested for vicious injury and motor vehicle after allegedly kicking a car in a Cedar Rapids apartment parking lot. Damages cited total 50 000. Moores held on 300 bond.
LISBON Portugal AP Premier Voveo Councalves sought to ease the worst political and military crisis since the dictatorship fell six months ago. The cabinet split kept two proposed vice premiers civilian and military heads, Le Cal Antonio Arnage Metela and Joaquim Teixeira Ribera, while three generals retained supreme power under the armed forces movement Otelo Saraiva de Carvalho, Costa Gomes, and internal security chief Carvalhio.
National City Bank of York raised its prime rate to 7.34 percent from 7.31 percent due to the recent surge in rates used to set the prime. Most other major banks are following with a quarter-point rise, leaving rates typically higher across the sector.
Former Iowa City attorney Jack White received a stay in Jahmson county district court delaying a 15 year sentence at Fort Madison penitentiary. White had been ordered to surrender after probation violations tied to 1974 fraud convictions, with restitution still pending. The stay followed defense requests to reopen the probation revocation hearing to show substantial restitution ongoing. White, once Johnson County attorney, was a notable civic figure.
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