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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 10, 1941
Page
10
The nation begins broad readjustments to a total defense economy as silk supplies are requisitioned. Women rush hosiery counters while four months of stockings are reportedly bought in ten days. Food prices rise with a 43 percent wholesale increase and power use hits a record high as production soars.
The stock market showed a routine day amid consumer buying and industrial activity. The Associated Press average of 60 stocks ended at 43.70, down from 44 at week start, with a 43.40 to 42.80 year comparison and 45 to 39.10 as the 1941 range. Wheat for future delivery spiked to the highest since 1937 as grain prices rose with the market.
Bank clearings in Cedar Rapids continued to lead the comparable week of last year. The Clearing House total for the week ending Aug. 9 reached 1,614,058.22 dollars, up from 1,434,894.30 dollars a year earlier. the week ending Aug. 2 posted 1,290,910.78 dollars.
New York shares fell as tax fears weighed on traders with the AP 60-stock average down about 0.4 at 33. Transfers were the smallest since July, marking an eleventh straight session without a gain. American Telephone edged up while several major issues slipped amid Treasury tax-bill debates. Volume ran around 63 000 shares.
A brief market note lists several security issues traded in Eastern Iowa, highlighting price movements and notable bond and stock activity. Local brokers report steady volume with modest gains among government and corporate issues.
Conveyances and mortgages through Aug 7 summarize filings and abstracts. The report notes a year-over-year comparison and cites Iowa highway progress aiding travel to fairs like the All-Iowa fair in Cedar Rapids and events in Marshall County.
Wholesale fruits and vegetables include oranges at 3.85 to 5.00 per box, watermelons by the pound, onions at 1.65, and new California whites potatoes at 1.75. Poultry prices feature Springs over 5 lbs at 16c, Leghorns 12c, cocks 10c, and various grades of hens and hensneries with different lot prices. Also notes scarce entries on oats and rye grades and other commodities.
Chicago dairy and livestock prices show varied gains and declines with hogs at 11.40 to 11.70 for butcher pigs and sows steady around 10 15 cents up, calves and steers moving to higher ranges near 12.00 per cent, fat cows and vealers up to 13.90, spring lambs steady to higher, and light-fed cattle near 11.50 to 12.50 with selective highs.
In a large scale experiment forest service teams of 24 college recruits provide air dropped tools and two parachutists to attack fires in roadless areas. Lookouts notify crews who land near fires and fight with shovel and pulaski, then hike back to base after containment.
Grain quotations provided by Lamson Brothers and Company. H. R. Mowrey manages Cedar Rapids office located at 503 Merchants National Bank building. Contact phone 2 3141.
Des Moines reports breaking previous exhibit records as the national livestock show runs far ahead of last season. Percheron entries total 121 harness and saddle horse entries.
Ottawa reports that Canada has imposed a freeze on silk imports or supplies. The move aims to conserve scarce goods and support domestic manufacturing during a period of economic strain.
The Asio- Communication Equipment Workers union urged a strike vote in 13 cities after claiming 8 000 members at Western Electric installations would halt private military cantonment and government plant projects. A weekend poll was planned and results to follow Monday.
An Omaha AP item reports that several sons are employed on a local farm. Details are limited but the notice highlights family labor in agricultural work.
London dispatch reports Emmanuel Shinwell a Labour MP urged a Mediterranean strike against Italy. He said aid to Russia should be decided by the government but that a combined naval and land attack could cripple the axis and undermine enemy prestige in the Balkans.
Wheat prices rose through the week with gains of 6 to 8 cents, closing near four year peaks. September at 1.11 December 1.15 May 1.18 with mill support and short covering driving the late rally. Corn dipped early then firmed while oats eased and soybeans rallied on oil and meal strength. Weather outlook showed moisture in parts, no major relief from drought.
A Caldwell New Jersey dispute spurred a full strike by a union after wage discrimination claims and a labor board election. Production halts threaten 1500 workers at the propeller division and affect orders from the United States and allies. Federal Shipbuilding demands include a maintenance of union membership clause.
A near riot erupted at the UAW convention in Buffalo after a Milwaukee report recommended suspending and permanently ousting Harold Christoffel, president of the Allis-Chalmers local, for alleged noncooperation with a special committee. The probe targeted elections of delegates and drew sharp charges against union leaders.
The article notes a World War II pilot was not labeled an ace until he achieved five confirmed enemy aircraft downings, marking the milestone after counting five takedowns.
Virginio Gayda, fascist editor for Mussolini, said in Giornale d Italia that U S aid to Russia via Vladivostok brings the European war into Japan's sphere. He warned Tokyo aims to curb Iran and expel Germans as a strategic move.
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