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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 02, 1971
Page
16
New York traders pushed shares lower on Tuesday amid profit tax concerns. At 2 pm the Dow Jones average dropped significantly while volume on the NYSE and over the counter boards remained heavy, with widespread declines among blue chip issues and a surge in block trades signaling strong selling by institutions.
Chicago market notes show steady demand and higher cattle prices with gains up to $1 per hundredweight. Reports from Omaha and Sioux City list firmer steer and heifer values, with feeder prices rising and prime lots cited in the 21.50 to 37.00 range.
The Rev. Paul Hoenk resigned as pastor of St. Paul’s Lutheran chapel in Iowa City effective Feb 1 after multiple investigations and four options offered, with district president John Zimmermann saying Hoenk failed to reach the university’s Tattherans campus ministry and that campus students in the city were largely unreached. His ministry included unconventional topics and informal services, but the resignation stemmed from ministry style and lack of parish support.
Zimmermann said the ministry should serve all denominations but prioritize Lutheran students to equip them for campus work. Hoenk, a University of Iowa graduate student, aims to broaden his ministry. He issued a response at a press conference amid a letter from the Association of Campus Ministers supporting Hoenk and noting Hoenk’s resignation.
Chicago based report notes futures for wheat, soybeans, and corn closing higher after a volatile session. Wheat rose about 3 percent led by March contracts, corn and soybeans gained around two to three percent, signaling strength across grain markets.
Prices paid on the Cedar Rapids hog market rose about 25 percent Tuesday with five bulls of country and plant delivered meat weighing 200 to 230 pounds bringing $18.00 to $18.25. Packing weights 30 pounds down ranged from $14.50 to $14.78, with price adjustments for heavier cattle and different weight grades.
In Linn district court Tuesday a hearing on suspending The Meeting Place beer permit focused on an apparently liberal disclosure of Kay Brunkest’s 1968 tax return by the Iowa Liquor Control Commission. The judge questioned legality and confidentiality provisions as Cedar Rapids officials weigh the permit action amid council review. Bronkest testified late morning about alleged agreement terms restricting employee access and argued she was deprived of a prior hearing, with possible appeal to the state Supreme Court.
DETROIT UP1 reports a brief Chrysler strike ended after three hours as UAW and Chrysler reached a principle agreement covering 110,000 salaried production and maintenance workers. Wage increase of 4 to 13 percent with retroactivity to last Sept 15 was agreed, with final ratification expected soon.
Iowa Electric's board declares multiple quarterly dividends on various preferred shares and common stock. Records date is March 15 with payments due April 1. James Coquillette, elected director, fills vacancy created by a death.
Four Linn district court reporters sign a letter opposing Cedar Rapids City Council's proposed ordinance that would require city employees to live within the city or within five miles of its limits. They call it unduly restrictive and a violation of civil rights, noting private industries do not impose such requirements. Signatories are John Schrimper Jesus Ream Sonjar Houg and Evelyn Hamiel.
Washington AP reports the interest on the national debt will total about $39,000 per minute for the fiscal year ending June 30. The figure, presented by Rep George Andrews, is based on a $20.8 billion debt and reflects a seven day work week and a 24 hour day.
A city sanitation worker Joseph Stevens, 30, of 1020 Tenth Street SE, was injured Tuesday morning when his garbage truck backed into a Dews Dairy truck parked on the 2100 block of Worthgate. Stevens received treatment at Mercy Hospital for a left shoulder and leg injuries and was released. No charges were filed. The garbage truck was operated by George Cotton of 116 Thirty-third Street NE.
Cub Scouts Park honors Tuesday night at Truman School recognizing Doug Hladek Jeff Fred ikson Kevin Pullin Mike Shavell Dens Bruns Terry Gearhart Jel Boyd Allen Hopp Jerry Funk Steve Leslie John Wossf Steve Halser Jim Hazell John Darnagan Mark Syeda Hob Gull Pete Paeth Randy Offerturf Tim Lane Todd Abney Allen Bruns with ceremony and list of awardees.
DES MOTWES AP reports the Senate moved to aid returning servicemen unable to find work by exempting certain pay from income calculations for benefits. The bill clears to the Institute and unanimous consent was given.
Haas, 21, of Manchester, was sentenced to 10 months in jail and a $300 fine in district court after pleading guilty to possession of stolen merchandise.
Fort Dodge city council unanimously grants a license to Richard Davis of Des Moines for an adult theater following a federal court ruling. Mayor Habab, noting it applies to a theater license not obscenity, says the theater will be watched to ensure compliance with Iowa obscenity laws. Davis plans to open in early March.
DES MOINES AP The state senate balked at prosecuting as adults minors arrested for beer and liquor violations and sent back to committees a bill to do so. Sen Richard Stephens Delphi split the highway patrol and county attorneys backing such a bill to ease juvenile court caseload and promote highway safety by moving cases to justice courts.
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