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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 24, 1978
Page
28
A partial NYT led replica lists Selected composite prices at 10 30 a m from United Press ee ae. The data enumerate many corporations with last prices changes and dividends across NYSE and national markets. Notable names include Exxon Boeing CocaCola General Electric IBM and Dow components among others.
The Dow Jones industrial average shows slight movement with a decline of 0.08 percent, while the overall level sits around the 896.31 mark as 65la. m. data updates. Traders watch small gains in the broader market amid cautious sentiment.
Standard Poor's hourly indexes for Thursday show figures for sectors including Industrials Utilities and Facilities. The report lists current values with minor changes from the previous close, reflecting steady trading activity in the New York market.
UPI reports stocks rose with foreign investors buying amid news background. The Dow added 2.46 points to 898.42 by midafternoon as NYSE and AMEX traded actively. National Airlines rose on merger talks with Pan American worth about 300 million dollars. World Airways gained on CAB approval for a 99 dollar transcontinental service.
Futures trading on the Chicago Mercantile Exchange Thursday saw dividends furnished by First Mid-America. Traders watched settlements in Chicago with activity centered on futures contracts and related securities.
The Cedar Rapids livestock market Thursday showed steady hog prices for butchers and packers with bulk delivered hogs 200 to 230 pounds at 48.00 to 48.50. Sows around 300 pounds at 41.00 to 41.50. Heavier butchers and packers faced penny to dollar drops per weight bands. Sheep market held steady with spring lambs 53.00 to 56.00, with lambs over 110 pounds discounted.
Des Moines dispatch notes slow to steady beef trade with demand fair to good. Steer beef for 550-800 lb mostly 78.00-79.00, some 79.00. 700-900 lb at 79.00. Good heifers 500-700 lb 70.25, firm. utility cows firm. Pork market slow to fair. loins 14-17 lb 96.00, 17-20 lb 90.00, over 20 lb 80.50 steady. hams 17-20 lb around 84-85, 20-26 lb 85.00-85.25. bellies 10-12 lb 49.00, 12-14 lb 53.00, 14-16 lb 52.50-53.00.
UPI reports Thursday hog numbers at Des Moines trade slow with moderate demand. Butchers and sows steady to 50 higher. Price ranges for various weights from 200 to 550 pounds are listed, with receipts 69 000 on Wednesday, 58 000 the prior week, and 69 000 a year ago.
Cedar Rapids market reports soybeans and oats steady on old and new crops with minor declines for August and 1978 crop prices. No. 2 corn August crop 2.02 dollars, new 1.87. White corn 2.53 old, 2.55 new. Soybeans August 46.50, new 6.08. Oats 1.28 both old and new. Also listed are dairy and egg prices and Chicago wheat and corn quotes.
Hogs mix 25 point declines to steady. 2,700 head traded with various weight ranges. Cattle and calves 500 head on offer not sufficient for a test. utilities, cows and cutters mostly steady with several higher bids. Estimated Friday receipts: 800 cattle and calves, 2,500 hogs.
Attorneys for Robert J. Elmore plan a diminished responsibility defense in his murder trial for the beating death of 10 month old Edwin Tietz. Trial set for Sept 5 in Newton due to Linn County publicity.
Agreement reached between Job Service of Iowa and REL Ltd doing business as the Ramada Inn at 5560 Sixth St SW to dismiss a July suit over $5123.93 in unemployment contributions and costs for 1977 quarters two and three. Linn District Court petition asks dismissal without prejudice as matter disposed of.
Michael Smith testified before a Senate subcommittee as a professional arsonist, claiming fees from 500 to 4500 and describing a high market for arson services. He admitted burning over 100 buildings in Minneapolis and earning enough to buy a new car each year, while Angelo Monachino described Mafia involvement in about 11 fires in Rochester, noting protection and low pay.
About 120 Wilson Foods Corp employees staged a wildcat walkout after dinner, joining Amalgamated Meat Cutters Local P-3. Plant manager Forrest Mykleby cited a hog kill scheduling dispute as the motive while Union Local President Dennis Nebendahl said only a general disagreement. Talks were scheduled with the company and union with hopes workers return for tonight’s 4 p.m. shift.
Sioux City market notes show cattle steady with light steer and heifer supply and steady cows and bulls. Hogs 5,000 head active with higher bids on lighter weights and commodity orders. Webster City reports hog demand good and prices up for surgical weights.
The competition movement at the YWCA honored North-South winners Connie Hellenthal with Mel Smoker first and Bruce Cuthbertson with Frank Hellenthal second. East-West top pair Della Wolfe and Lou Harrington won first, with Joan McGoffie and Mrs. James Smittkamp second. Next game is Wednesday at 7:30 p.m. at the YWCA.
Judy Blank earned the Ellis Medalist title while Gloria Tschetschot won the Championship. Sally Hagerman Louise Cline and Marge Jacobs led the Presidential group with Helen Sch weitzer top in A group. Dee Pazour led B group with Lorraine Flynn and Thelma Phillips in C group. Dorothy Ritchie topped D group with Doralee Ainsworth and Pauline Miller in Special.
Coast Guard Lt Cmdr H D Jacoby says stepped up enforcement elsewhere makes Gulf ports more popular for drug entry. He notes a cutter he served on has seized 155 tons of marijuana in eight months, and increased patrols on Florida's east coast deter traffic to that area.
Des Moines reports a generally inactive market with very light trading and off farm movement. Demand is moderate to good for some segments, plants run on a limited basis, and supplies are short. Prices at farms and cases show varied quotes with Grade A and medium A prices around 43-46c and 36-39c respectively, while larger segments are weak due to weather and sizing factors.
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