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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 22, 1970
Page
20
New York stocks held a slim edge after major banks cut prime lending rates to 6 percent from 7 percent. The Dow rose 0.82 to 822.36 as NYSE winners led losers about 3 to 2. Analysts said the rate cut was expected and its impact fading.
Analysts view a consolidation phase after a 3% weekly rally through December 11. Rails and electronics rose while metals chemicals and glamour stocks fell. The most active list shows Wells, Rich Greene up 11 to 16 percent, DHJ Industries up 23 percent, Jupiter Corp down 6 percent, with many groups mixed and unofficial figures noted for dividends and ex-dividend adjustments.
Chicago markets show soybeans down about 3 percent while corn and wheat fall around 1.5 to 2 percent early trading. A late rally trimmed losses, with soybeans closing near 2.923 percent lower for January. Wheat and corn rebounded slightly into March contracts.
An AP brief lists grain prices in Chicago with quotes for Cash Wheat No 2 hard red at 1.69 and No 2 soft at 1.70, No 2 oats at 0.82 and Soybeans No 1 yellow at a price around 1.92 with Soybean oil noted at 11.92.
Official cattle receipts estimated at 5,500 head. Slaughter steer and heifer prices held steady to 25 cents higher, with Tuesday trading showing gains in the Chicago market.
Chicago reports slaughter steer prices steady to 25 higher with high choice and prime weights 1050 to 1275 pounds and heifers 26.75 to 27.00. cows 17.50 to 19.25. Des Moines notes active trade, steady sow and butcher prices, and U S 1 3 weight classes with hogs and sows listed across several weight ranges.
UPI notes cattle numbers around 6,000 and calves 100 with fairly active trade. Slaughter steers hold steady to 25 cents higher and slaughter heifers gain 25 to 50 cents. Price ranges include 26.50 to 27.25 for steers, 27.50 for top loads, and 25.50 to 26.25 for heifers with 26.35 to 26.50 for choice and prime.
Des Moines bulletin from AP USDA shows price shifts for steer and heifer beef in the 600-800 lb range at about 43.00 and 41.50 respectively, while pork cuts vary with loins and ribs higher and picnics and skinned hams at mixed levels. Seedless belly data and specific weight bands accompany the table of changes.
Omaha roundup shows cattle numbers about 7 000 with calves at 25 higher and steers and heifers up to 25. Cows hold steady with high choice and prime at 27.65 to 28.00 for 1 100 to 1 200 lb steers. Feeder steers around 34.50.
Prices paid Tuesday for hogs ranged with 200 to 230 pound butchers at 15.75 to 16.25 dollars, sows 12.00 to 12.25, and over 230 pounds at stepped reductions. Sheep offered at 24.00 for best lambs and 5.00 to 6.00 for old sheep. Poultry and grain futures listed, including corn at 1.34 and soybeans at 2.74 per bushel. Delivery prices vary by weight.
Chicago wholesale market notes mixed shipments and prices with various fruit and vegetable categories. Minnesota North Dakota Red River round reds and other items show price ranges per cwt and 50 lb sacks. New York wholesale cards indicate ample supplies and steady demand with standards and fancy whites priced accordingly.
A car owned by Sarah Scofield of Garber, parked and running in front of a tavern, rolled backward at about 2 am Tuesday and rammed the Cannes Bros Television shop, causing 3000 to 5000 dollars in damage to the front wall and merchandise. Deputies weigh whether reverse gear was accidental or tampering.
Cedar Rapids public safety commissioner John Oberthien said the department has prepared an ordinance to ban snowmobile operation on public streets. He noted state code blocks highways but does not cover streets within municipalities.
A public hearing on merging the Clarence and Lowden school districts is set for Jan 18 at 7 p.m. in Clarence, prior to the Joint County school system board meeting. If approved, the districts would form the Clarence Lowden consolidated district. The board also approved funding a second-half class at the United Cerebral Palsy Center for Cedar Rapids students with disabilities at about $6,000, a part time drug abuse curriculum position for Linn County schools with details to follow, and a pilot class for severely educationally handicapped children in Kalona with no cost estimate yet.
Square D Co names R. D. Jaeger Cedar Rapids district manager. He will supervise sales and marketing in the Cedar Rapids area after serving as a field engineer in Minneapolis. Jaeger, a University of Minnesota graduate in electrical engineering and business administration, joined Square D in 1955.
A hand grenade exploded in a Gaza Strip refugee camp injuring twelve Arab children. The incident occurred Tuesday and details about the weapon’s origin or motives were not immediately clear.
New York report from AP quotes J Edward Martin of A C Martin and Associates predicting elevated pedestrian walkways and grade separated one way streets will remove traffic jams in future cities. He says the system separates people from cars and keeps traffic moving constantly, unlike present lights that are green only part of the time and hindered by pedestrians after signals change.
A century-old church in Santa Rosa built from a single redwood tree was dedicated to Robert L. Ripley, creator of Believe It or Not. The church will display Ripley’s papers and memorabilia, with a public opening planned for April. Ripley, born in 1893 and died in 1948, claimed the tree yielded 78,000 board feet in his cartoon.
Cedar Rapids and Marion observe three day weekends for Christmas and New Year. City hall and county courthouse close at noon Thursday. garbage collection shifts. banks close early and reopen Monday. post office operations reduced with Sunday schedule. Saturday window service limited.
Funeral services for Harlan Hotz aged 70 of Marion will be held Thursday at 1 30 p m in Baxter Memorial chapel Marion Friends may call at the chapel Wednesday afternoon Hotz died Sunday after being struck by a car in LaFeria Texas where he was spending the winter
Four adult gorillas and a seven month old baby at Fleischhacher Zoo ate everything including the acacia tree. The tree was decorated with rice balls and raisins tied with licorice strings. Beverly Rongren cited the apes’ fondness for acacia and joked regular trees aren’t as tasty.
A two car crash at Glass Road NE and Twin Pines entrance sent one person to St Luke's in fair condition with a fractured jaw and facial lacerations. Five others sustained injuries across two other accidents, including a three car wreck at Sixth Street and Gateway Gardens and a truck collision on Thirty fourth Street NE. No charges were filed in the first two incidents.
In his Christmas address Pope Paul VI blasts intellectual centers in the West for corrosive criticism of Catholic traditions. He also condemns war, Italy's divorce law, and calls for faithfulness to Christian family values. He notes a September synod will discuss priesthood and justice in the world.
George S. Letoureau, 36, returned from Newton to Cedar Rapids to face larceny and defrauding an innkeeper charges. He allegedly stole a television set and typewriter from the Holiday Inn on Williams Boulevard SW and left without paying a $35 room bill. Letoureau was given until Wednesday to waive or demand preliminary hearings and is held in Linn county jail on a $2,610 bond.
A shopper is urged to review the Want Ads for current deals and item listings. The notice emphasizes checking daily updates to find needed goods at discounted prices and to act quickly on limited quantity offers.
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