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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 21, 1975
Page
19
The market fell as inflation data spurred selling with the Dow down 1.72 points to near 28.99. NYSE composite slid while trading remained uneven. July price spikes prompted cautious early losses and lagging gains as traders awaited further data.
The Cedar Rouids market notes Thursday steady with pork and beef values. Prices vary by weight and grade from 211 to 240 pounds at 56.00 to 56.50 for butchers and 49.50 to 50.00 for packing cattle down to 300 pounds and above. Frozen pork bellies and yellow produce also listed with delivery notes.
Chicago area wholesale prices delivered to retailers show mixed changes with Unestablished and various grade levels noted. California whites and Wisconsin round reds appear with specific per carton and per dozen figures, while market reports from Des Moines and London provide corroborating price movements and supply notes across multiple commodities.
Chicago wheat rose 2.08 cents while corn fell around 44 to 6.40 and soybeans dropped about 14 to 10.50 as profit-taking spurred declines across markets except wheat. Reports of bumper crops hint at lower prices ahead for corn and soybeans.
Paxall chairman Bryan S Reid says Paxall directors authorized management to begin negotiations with a barge corporation toward a basic sale of Cherry Burrell including a large part of its assets. Cherry Burrell sales so far this year account for about four percent of Paxall. Paxall’s main plant is in Grand Rapids.
The FTC reports no clear evidence of abusive profiteering in milk wheat bread and beer over late 1972 to early 1973 despite rising consumer prices. It attributes price increases mainly to higher input costs and notes profits remained a small share of sales across these sectors.
UPI reports Thursday trade in livestock with demand fairly good and prices mixed. No. 1-3 240-230 lb hogs at 35.50-57.0, 230-250 lb at 56.75, sow prices up to 50 higher, 270-330 lb hogs around 49.5-49.25, 440-400 lb ranges near 48.78, Wednesday totals show 52,000 head, week 38,000, year-ago 70,000. dairy and poultry markets described as steady with limited slaughter supply and firm bids for finishing cattle and feeders.
Local notices include two positive diabetes tests at East Central unit, several stolen items from Cedar Rapids residents such as a 25 inch color TV, boots, tapes, a tape player, a lawn mower, and clothing from Laundromat and homes. Reports mention a missing watch, damage to vehicles, and a community meeting at Bishops Down Town.
Independence police expanded charges against Joe Zleser and Paul Prank after a search of the Prank residence uncovered marijuana and other items. Zleser had over three pounds of marijuana in a car trunk and faces possession with intent to deliver. Prank and Frank face drug related counts and larceny tied to veterinary drugs. The trio also faced resisting arrest and related counts with bonds set.
Public notice invites proposals for ground work and rebuilding at the southwest corner site for a new Family Practice Center. Construction includes removal of floors and walls, steel framing, roofing, and interior modernization as specified by architects in Shellsburg. Bids due by a stated deadline at the city hospital office.
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