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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 13, 1939
Page
32
Cedar Rapids shows rising population and expanding industry as 1939 data indicate continued growth toward a 1940 census victory. Building permits rise to 1,317 for six months, telephones reach 18,527, new car sales climb, and real estate transfers exceed 1938 levels while about 6,000 workers are employed in nearly 225 industrial establishments.
New York shares rose to near session highs after an unsettled start as steel and motor stocks led gains. U S Steel moved from a dip to end with a modest rise amid heavy volume, while Canadian Pacific and General Motors drew strong activity as foreign influence waned.
Mount Vernon Edward H. Ladage bought Bennet drug store and took possession Saturday. Ira Perry and wife of Alta bought the Snow White cafe from Mrs. Snyder. Charles E. Hedges acquired a half interest in McClung Chrysler Lumber of Tipton. McClung remains manager. A north side home at Mrs. Edgar Neal’s owned by Mrs. Agnes Barner Samoville of Sacramento will be sold to Oscar Houstman of Olin who plans to move there by Sept. 1. Decorah Symonds Brothers dismantling two greenhouses to build a new modern heat plant and replace with steam. work begins next week for early fall occupancy. Troy Mills Rosewood cabins used by C. L. Ober of Cedar Rapids along Wansie river on H. H. Straw sites. Leroy Bogan and David Fay of Troy Mills build cabins with electric stoves and full furnishings.
The city sees extensive remodeling and new builds along Second and Third avenues SE and NW. Peter Pan Bakers upgrades at 206 Sixth Ave SE aim to match English lines. Russell Ice Cream builds at 608 Second St NW. Pfann remodels Cedar Rapids State Bank space into six apartments. Gas company tests acoustical ceilings and plaster walls. Dr Pepper Bottling expands at 425 Second St SE. Rude Auto shifts to larger lot by leasing 516 and 518 Third Ave SE and razing former structures. Forrest Stewart opens a new two story at 606-608 Second Ave SE. Hall Ekfelt store repairs at 400-404 Third Ave SE. Armstrong Realty remodels 301 Third Ave SE for Leath Furniture. Peoples Grocery remakes at 119 Third Ave SE. May’s Drug store fronts updated at 215-217 Second St SE. Granby building store front updated at 222 Second St SE. Liebke and Taylor remodel interior at 219 Second Ave SE. Store at 205 Second St SE gets a new front.
The Cedar Rapids Clearing House reports bank clearings for the week ending Aug 12 at 1,260,391.79 dollars, up from 1,230,557.24 the prior year. The week ending Aug 5 totaled 1,099,813.45 dollars, indicating sustained growth beyond last year’s figures.
Anamosa and Monticello approve new sewage plants built to Cedar Rapids design. Anamosa plant cost 100000 with S32 grant, serves city and state reformatory, financed by city and state board of control. Monticello plant cost 60000 with a PWA grant, includes outfall sewer and riverbank site on Maquoketa river. Both plants designed by Howard G. Green company Cedar Rapids and built by Stark Building company Cedar Rapids or Spencer Construction Waterloo.
The city reports numerous building permits in the past week including St. Luke's hospital reroofing at 1100 A avenue NE for 2950 dollars and multiple residential projects. New dwellings, remodels, and garages are listed with addresses and costs ranging from 10 to 12,000 dollars for commercial work and thousands for housing.
The War Department accelerated air force expansion with contracts for over 1 000 aircraft totaling about 85 million dollars. Navy and Army orders promise further gains for private firms as 75 percent of the 100 million in arms and munitions contracts flow to private industry. Educational orders of 16 million underway to ready plants, with 10 000 firms tentatively assigned to wartime tasks.
Copper steady at 10.50 spot and 10.55 for export in New York. Other metals holding pattern with little change across markets.
The following quotations are not firm bids but show price ranges from recent transactions. For interest in unquoted issues contact the financial editor at The Gazette Cedar Rapids Iowa regarding bonds.
A chaotic OCR page lists multiple utility and power companies with share figures, percentages, and index references. It includes Central States Power and Light, Iowa Southern Utilities, Interstate Power, and Sioux City Gas and Electric, interspersed with Dow Jones averages and other market notations.
Anamosa merchant Leo F. Loyet, who runs the five and ten store for four years, has leased the former Monroe Hardware building from G. H. Monroe. He plans to move his stock from the Conmey estate building to the new location this fall.
TIFFIN Le e Herliska is constructing a new house on a lot bought from William Teeter. It marks the fourth new residence going up in Tiffin this season while many homes are being repainted.
The Schultz Brothers store in the Hutchinson and Carr building on South Franklin will occupy the Stearns and McCormick space, now used by Tracey and Klaus as a grocery and general merchandise store, and Mrs. Wayne A. Hall's building leased to A. W. Conkey drug store. Possession of the Tracey Klaus space begins Oct 1 with the drugstore location to follow. Conkey lease continues for another term.
F L Harrington owner of Harrington Funeral Home has purchased the second floor apartment above George Miller’s drug store. He plans to use the space as a display room on the I O O F building premises, enlarging his local business footprint.
Last week work began on an addition to the Elgin ae office. George Falb and family remodel their Pleasant street home, and Walter Falb added a double deck sleeping porch. Several residential sales include James Bailey buying the John Falk property and others by G. J. Mosby, William Pollock, A. Imhoff, and Elmer Schori home buyers. In Tipton two new businesses opened as Louis Buresh and Walter Randall leased the former Tipton Conservative offices for light hardware and plumbing supplies, while Lawrence Brown and J. T. Murphy opened a farm machinery repair shop in the former Marak Steffer space. Vincent Gough joins the McClung Hedges Lumber firm, successor to McClung Chrysler Lumber, with L. G. Chrysler selling to Charles E. Hedges.
Lamson Brothers and company provide Chicago grain quotations. H R Mowrey serves as manager for the Cedar Rapids office located at 503 Merchant National Bank building.
Market chartists warn of broadened selling after recent congestion breaks. Activity peaked Friday with widespread sales. Saturday saw short covering. Analysts anticipate possible recovery amid cautious mood and uncertain gains if overseas developments stay weak. Top active stocks by volume listed.
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