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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 23, 1974
Page
10
Financial markets opened lower in a cautious session as investor sentiment sagged amid recession fears and tax selling. The Dow Jones industrial average fell 8.68 to 589.80, with more declines than advances on the New York Stock Exchange, while Amex and other indices showed broad weakness.
A Charlotte couple found metal shavings in a box of instant cereal for their year old son. William A. Williams said they counted 30 to 40 shavings, with one as long as an inch, prompting removal of the stock from the K Mart shelves. The incident occurred as the family noted a holiday visit by Williams’s mother.
Chicago grain futures fell on light preholiday volume with wide swings. Soybeans led losses with most nearby options selling. soybeans closed 6 to 20 cents lower, wheat dropped about 8 to 10 cents, corn down around 5 to 9 cents, and oats 1 1/2 to 9 cents lower.
Prices paid Saturday for bulk country and plant deliveries to Cetar Rapids market weighed 200 to 280 pounds. Butchers received 39.50 to 40.00 per hundredweight depending on grade and condition. Sows over 230 pounds showed price reductions of 50 cents per 10 pounds up to 280 pounds, with further adjustments for heavier weights. Packers faced reductions per weight grade across 300 to 500 pounds, with specific off per 10 pounds and per additional pound beyond caps.
Roy and Cayol Hall of 1300 Oakland Road NE were found guilty by a jury in the magistrate court of resisting an officer and disturbing the peace during a disturbance at the Roosevelt hotel on October 2. Sentencing for both is set for a later date.
Five suspended Cedar Rapids police officers were reinstated Monday by Chief Wallace La i Peters. Indicted earlier this year by a Linn County grand jury, the officers named Asst. Chief Wally Johnson, Kenneth Millsap, Darwin Ammeter, Donald Rosdail, and Robert Manchester faced perjury and obstruction charges with conspiracy alleged against all but Johnson. The charges were dismissed last week as the grand jury extension was ruled illegal. Ammeter and Millsap received vacations to meet work commitments.
Magistrate court reports seven defendants bound over to the Linn grand jury. Defendants include Scott Parenmam of 050 Avenue NE for unlawful use of the telephone. Orville Skaggs of Oil Fourth Avenue SE for breaking and entering and robbery with aggravation. Gary Zimmerman of 226 Sixleeally Avenue BW for larceny. Richard Dillmar Jr. of US Oakland Road NE for robbery with aggravation. Gregory Karplek of 300 Thirteenth Street SE for robbery with aggravation. Craig Arinder with no address for robbery with aggravation. Steven Strallon of 275 Ninth Street Marion for drunk driving.
Four defendants appeared in magistrate court on marijuana possession charges. Warren Mundy of Springville pled guilty, fined 150 dollars and costs for possession on December 6. Ralph Davis of 1019 Seventh Street SE pled guilty with sentencing deferred to December 19, 1975 for possession on October. Pamela Bulton of 1019 Seventh Street pled guilty with sentence pending for possession on October. Anita Mitchell pled guilty with suspended jail sentence for possession on December 9.
Anita Mitchell pled guilty in magistrate court to assault and battery against Judith Chapman. She was fined $50 plus costs. Details indicate the incident involved the charged assault in Dee on September 9.
Marion man found guilty in magistrate court on a charge of damaging a car the property of Habert Wave on September 27. He was fined 20.
Jeffrey Schaeffer faced a false use of a credit card charge at Clancy's Lid. He was fined $100 plus costs. The report notes no address for the defendant and provides limited additional details of the incident occurring on October 28.
Charities face thinner donations as recession bites holiday giving. Independent groups report steep declines while large federations note overall gains. Salvation Army and local drives in cities like New Orleans and Portland adapt to tighter wallets and more demand for help.
An early Monday mobile home fire in Towncrest galley court, Owa City, killed Mrs. Wiha Basch qayel, 65, of Towa City. Firefighters fought the blaze for about 30 minutes. her body was found near the front door as an eyewitness described a possible rescue attempt. The cause was under investigation with preliminary indications pointing to a trash container near the door.
In London and Paris the price of gold rose to record highs as speculation surged ahead of American participation in the gold rush. London dealers quoted $193.00 an ounce with an intraday peak near $194.50, while Paris and Zurich marked about $192.25 and $186.25 respectively, up from Friday’s levels.
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