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This newspaper page contains 10 articles. Subscribers can read the full text of each article.
Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 30, 1973
Page
56
The article surveys 60 economists in four camps Optimists mini optimists pessimists and a small group of pessimists about 1974. It projects rising GNP to 1382 billion inflation driven gains with 6 percent CPI rise and 1.7 to 1.8 million housing starts while auto sales edge around 10 million.
Economists forecast 8 percent gain in plant and equipment spending and 8 percent rise in retail sales driven by autos and other goods. Manufacturing wages expected to reach 181 by year end, unemployment up to about 6 percent. Corporate profits dip to 68 billion but recover in second half as stock prices rise about 8 percent overall.
Readable fragments show numerous stock names and share prices with percentages in a dense turnover style. The page lists companies like Sybron Systron and many others amid a sea of figures, percentages, and ex-dividend notes from a historic market summary.
Guaranty Bank and Trust Co. forms a wholly owned subsidiary, Guaranty Data Processing Co., to offer payroll and bookkeeping services to local businesses. Harold Becker reports at the annual meeting that the move enables new data processing offerings. Kenneth E. Myers rises to vice president cashier and board secretary after 37 years with the bank. Larry E. Johnson is promoted to vice president. Marian Minninger becomes head bookkeeper. Steve Bowman named assistant installment loan officer.
Stocks ended the Christmas week higher after early losses and a strong rally on easing Arab oil exports. The Dow rose to 848.02, the NYSE index up to 85.48, and the NASDAQ at 91.68 amid heavy volume. 18 of 25 top issues advanced, 5 declined, 2 unchanged.
The clearing house reports weekly bank clearings totaling $10,787,617 for the week ended. This is a drop from $14,374,722 the prior week ending Dec 21. The figure matches closely with last year’s week ending Dec 29 at $10,763,193.
Sam Shulsky answers readers on risk, blue chip choices, and bonds. He cautions that comfort investing depends on goals, explains blue chip meaning, and warns against overreliance on fixed income. He covers tax exempts, reinvesting, price earnings ratios, and safety of TVA vs realty bonds.
The article explains proposed changes to Social Security tax, increasing the employee rate from 5.85 percent to 5.9 percent and raising the earnings cap from 10 800 to 13 200, with an 11 percent total benefit increase split across March and June payments. Officials question timing, but Washington says implementation is possible if signed.
East Iowa stocks and financial notes show activity from regional firms Loewi and Co and Allied banks. The report highlights market shifts affecting insurance firms, casualty holdings, and local commodities with varying gains and losses.
Notice of annual meeting of Mutual Insurance Association Cedar Thursday January 34 1974 at 8 am at the slice of said Assoc First Trust and Life annual statement 1973 will be for read. election of directors will be held and such other business as may come before said meeting Sehee Joseph W ruin sky resident Ralph E Brown secretary.
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