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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 24, 1941
Page
17
Stock markets faced uneven moves as defense priorities cut production in autos and other goods and as tax selling loomed. Investors awaited earnings guidance amid war fears and gasoline shortages, with the Dow averaging a slight week gain while bonds held steady and wholesale food prices rose.
Cedar Rapids bank clearings for the week ending August 23 totaled 620 088.25 dollars, up from 1 016 296.20 dollars for the week ending August 24, 1940. For the week ending August 18 this year clearings reached 1 586 569.28 dollars.
Wheat on the Chicago board of trade dipped about one cent a bushel before support was found. Prices closed 5 to 34 cent lower with little news to move markets and dull trading overall. Corn oats rye and lard followed with small declines in quiet session. Winnipeg wheat fell 14 cent. Governments debate on freezing holdings loomed as a potential market driver.
AP wire details bid levels for cash wheat corn oats and barley in Chicago with No 1 yellow corn priced around 74 cents to 84 cents per bushel and assorted rates for oats barley flax timothy seed and lard. The report lists bid ranges and descriptive quotes for various grain types and byproduct categories.
Chicago reports show butter receipts at 447686 pounds with slight price softness in Western Russets and Lonawhites. Livestock receipts include 800 hogs with top around 19.00, cattle and vealers mixed with weights up to 1510 pounds. sheep and lamb offerings up to 12.40 for native spring lambs.
The Rainbow bridge rises 950 feet with the world’s longest hingeless arch designed to span Niagara gorge. Begun May 1940, its 1450 foot deck includes two roadways and a pedestrian mall, offering new honeymoon views as traffic plans link the U S and Canada.
Price ranges for recent transactions in Eastern Iowa utilities and manufacturers are listed. Notable items include Central States Electric Co issues, Iowa Public Service and Southern Utility Co, Interstate Power, Quaker Oats, Rath Packing, United Light and Railways, Plant Co and Wilson and Co, with bid ranges and percent holdings noted.
Mr. and Mrs. Harold E. Pratt take over the 2317 Mt Vernon Avenue SE storefront, converting Bartunek's grocery to Pratt's grocery after moving to Cedar Rapids less than two years ago.
Grain price quotes provided by Lamson Brothers and Company through H R Mowrey manager Cedar Rapids office at 503 Merchants National Bank building.
Local market notes list grain and feed: No 2 hard winter wheat at 36 to 64 cents, oats at 36 to 64, No 2 rye 60 cents, barley $0.35 to $0.48, rough and shelled corn prices, and hay with bale prices. Poultry prices show jumps by weight, with Leghorn birds and cocks priced accordingly. Fruit and vegetable items include lemons 7.50, grapes 3.25 to 5.25, celery 8 cents, watermelons, lettuce 4.25, cabbage 3.00, apples and peaches 1.75 per basket, and various hides and animal products priced.
Los Angeles report on spring suspended railroad cars by W. E. Van Dorn and Cortlandt Hill. Three cars nearing completion for Santa Fe Burlington and Great Northern at about 85000 each weigh 93000 pounds and ride on 16 coil springs. Hill notes heavy cars hinder interchange and predicts slow adoption due to national emergency.
John Garand, designer of the U S Army’s new rifle, is portrayed as a skilled, spriteful engineer with a French Canadian background. The profile traces his early interest in mechanics, work in mills and machine shops, motorcycle racing, and rapid rifle design progress from 1924 headlines to Aberdeen tests.
New residents greet Cedar Rapids as Edward L. Cook and family rent at 1741 Fourth Avenue SE from Malcolm V. Bolton and Co. Lester Collins and wife move from Beaver Falls to 2212 Country Club Parkway, replacing Milo Mitralsky now at March Field. Mae F. Childs plans occupancy at 1522 Washington Ave SE around Sept 15. Others include C. P. Tuttle renting 1804 Higley Ave SE, and Lloyd C. Dean with family moving Sept 1 to 1923 Washington Ave SE. crews linked to LaPlant-Chaote and local realtors Heddes and Collard handle the leases.
Markets drifted with little movement through the week into Saturday as uncertainty over the war front restrained trading. Major players like Peoples Gas rose after dividend changes while most oils, chemicals, and rails posted modest, unremarkable gains or losses amid overall dullness.
Paul Appleby the U S undersecretary of agriculture and Rudolph Evans of the AAA began a tour of British ports and farms Saturday to assess Britain's food needs and shipping options. Appleby after conferring with Lord Woolton stressed the U S is reorganizing agriculture to supply Britain.
Ray Menish a Kansas born RAF bomber pilot was to relate daylight raid experiences in a scheduled NBC London broadcast but did not appear after his plane failed to return from a raid. The London office cited duty interference as the explanation.
The American Red Cross reported 47,087,052 spent on war relief overseas with Great Britain receiving 25,340,330. China got nearly 3,000,000. Six vessels weekly carry supplies to England and volunteers made millions of garments layettes and dressings for shipment abroad. Spent 2,183,014 in the British Middle East. no shipments to France Spain Finland since specified dates.
An authoritative source said Saturday that the United States will finance the new air base to be built by the Uruguayan government near Punta del Este at the mouth of the River Plate under the lend-lease act.
Two Marines were killed when their motorcycle collided with a car driven by Al Schacht the baseball comedian near San Diego California. The victims were Corp Elmer C Bade 22 of Lake Mills Wisconsin and Corp Stonewall Sellers 24 of Altha Florida. Schacht and his companion Milton Cosden of Paterson New Jersey were unhurt. Schacht is touring the coast for baseball appearances.
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