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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 15, 1968
Page
2
New York reports an early stock market advance faded as trading slowed. The AP notes investors faced a slack afternoon with limited buying activity and mixed results across major indices.
The market started higher but momentum slowed after a morning surge as Wednesday closing orders fed the early rise. By 2 pm the Dow Jones industrials stood 2.46 lower at 882.22 after earlier gains, with declines in steels motors farm equipment aircrafts chemicals airlines and drugs.
Lucky Stores Inc. posts a 28 percent earnings increase on 66 percent sales rise in the second quarter, with total quarter earnings of 3.1 million on 247.5 million in sales. First half shows 5.4 million earnings on 444.3 million sales, per share earnings at 1.00, reflecting a 12 cent tax surcharge adjustment and a stock dividend.
Friday USDA estimates show 4 000 cattle and hogs with sheep not estimated. Butcher hogs mostly steady to 25 cents higher. sows up to 25. Cattle mostly steady. calves none. Spring lambs and ewes steady with lamb prices around 26.00 for small spring slaughter lambs and 25.00 for yearlings. Iowa trade reports moderate activity with butchers up to 23 cents higher. receipts Thursday 70 000.
USDA livestock notes show steer beef mainly up to 50 cents, heifer beef stable to higher, pork cuts steady with bellies around 60 pounds and hams near 1.00, loin and skinless ham values listed for various weight bands from 500 to 800 pounds and lighter cuts.
Sioux City livestock report lists cattle 1,800 head and calves 300. Slaughter steers steady at 25.25 to 25.25 per cwt. Choice grades 1,000 to 1,300 pounds bring 25.00 to 25.25. Heifers 850 to 1,025 pounds fetch 26.00 to 26.75. Two loads of choice and prime cattle offered at 27.25.
UPI reports cattle and calf runs at Omaha with classes steady. 1500 head cattle and 10 calves, steers 28.85 for 1500-1200 lb prime, 27.00 to 28.00 for choice, good and choice cows 16.00 to 18.75, calves 10. Prices reflect mixed grades from eld prime to utility and commercial.
Prices on Thursday showed steady values for hogs with bulk 200-230 lb delivered butchers at 18.75 to 19.25 and packers lighter at 17.25 to 17.50 for 300 lb and down. Weight-based deductions apply up to 500+ lbs. sheep and poultry also listed with Lambs around 21 to 23 and eggs and poultry rates included. cattle and feeder dynamics noted with mixed quality and weights in auction results.
City briefs note William Stewart and George Patrick will speak at noon Friday at Bishops downtown and Embasy Club respectively. Reports of theft include tools stolen from a truck and from D and Glass Co with values cited as $125 and $212. Ads advertise dry cleaning deals, summer shoe sale, a yard sale, and a barber job posting.
Wheat futures edged higher after a weak start as soybeans moved with uneven momentum. Corn and oats closed mixed with varying gains and losses, while rye and other grain values showed modest changes amid Chicago cash grain listings and standard grade bids.
The ledger shows quotations for frozen pork bellies with Lamson Bros figures on Wednesday. Prices open high and low with close and previous sales around 30.60 to 30.87 per unit. The entries indicate a thin trading day with mixed bids and asks.
AP dispatch reports steady butter prices with minor increases in some grades and firm egg prices by wholesale buyers. Potatoes show arrivals and on track figures with Idaho Oregon Nor golds at 4.25 for carload sales and California Tong whites at 3.00. Washington Nor golds quoted 3.25 to 3.35 and Minnesota round reds at 2.75.
Wholesale fruit offerings show adequacy with fair demand and steady standards 34 to 36 percent. White varieties list Fancy large 402 to 4112, fancy medium 332 to 3412, fancy smalls 22 to 242, fancy peewees 15 to 15. Butter offerings are ample with spotty demand and no price changes.
Retired Maj. Gen. Edward Lansdale told President Johnson that the Viet Cong could win a free election in South Vietnam. Newsday cited the report, noting Lansdale submitted a secret White House briefing after returning in June. He previously advised Ambassador Henry Cabot Lodge and later led U.S. efforts to win the Vietnamese countryside.
A one meter meteorite shaped like a basket with a handle has been reported stolen from the Meteor Crater museum in Flagstaff Arizona. The artifact valued at 65000 dollars is described as the Basket in Meteorite. Police seek information on the theft and the missing object.
Linn county supervisors and Cedar Rapids council awarded the Edgewood road bridge contract to Des Moines firm Cramer Brothers Construction Co. for 1,285,816 dollars, above the engineer’s estimate of 1,271,305. Bid miscalculation noted, and the project aims to connect Edgewood road NW to Blairs Ferry road NE with completion targeted for 1969.
David Scott, 52, ex Colt Industries executive, was named president of Allis-Chalmers Wisconsin based maker of farm machinery. He will join AC Sept. 1 and also serve as director and executive committee member, succeeding Willie Scholl who retired. Stevenson announced the appointment. Gulf and Western may influence stock control but merger talks remain unconfirmed.
Businessmen and individuals aiming to enter exports are invited to a U S department of commerce meeting in Cedar Rapids next Tuesday. Speakers include David Parker of Central Illinois Bank Chicago William Rankin vice president C S Green Co Chicago and Ken Byrnes trade specialist from Des Moines office. Reservations via the international trade bureau at the Chamber of Commerce. Luncheon follows at noon at the Roosevelt hotel.
Cedar Rapids assessor Dale Piersall testifies that time constraints prevent updating 1968 real estate valuations to match the new law, while Elderkin challenges assessments on his Park Terrace SE home. Court will decide if current values meet the law’s requirement that assessed value be 27 percent of actual market value.
A Linn county condemnation jury awarded 40000 to Hetherington Letter Co of Cedar Rapids for its property at 117 First Street NE formerly the Red Shield store. The site was condemned for the Civic Center urban renewal project. Jurors were Isabel Winkrantz Hubert E Paxton Jeannette Wymore Maye Thompson Sidney G Blencoe and Lois Swaney.
Two Indiana men convicted by district court juries earlier this year on charges of uttering forged instruments have appealed. The defendants seek review of their sentences and challenge the sufficiency of evidence and trial procedures used in the underlying cases.
Directors of area hospitals and community agencies will meet Friday to discuss creating a county volunteer service. Dr. Robert Langford will outline a United Community Service task force recommendation to recruit volunteers and support social services at Linn County Health Center. Results will go to the health center board.
The Industrial Relations Center of Iowa State University will interview Cedar Rapids residents next week to assess the Youth Employment Service program. Nine ISU students will conduct confidential questionnaires with 300 nonparticipants and about 220 participants, comparing results to judge if the program reaches the intended youth.
In La Coruna the Spanish government vowed harsh action against Basque separatists and underground terrorists, threatening death or up to 30 years in prison under military law.
Classified notices promise fast results by posting want ads to locate missing belongings. Readers can describe items and offer rewards, enabling prompt responses and recovery.
William E. Abell, 41, fell ten floors from a stuck elevator in the Home Federal building Hollywood Florida. He crawled out for help, slipped, and tumbled down the shaft grabbing a cable before two repair men pulled him to safety. He complained of soreness and a burned hand.
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