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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 05, 1962
Page
8
Big Wall Street institutions returned this week, lifting prices off a seven month floor and delivering the market's only weekly gain of the year. The Dow surged to 706.55 while the S&P 500 closed at 69.81, with widespread advances among blue chips and major sectors, including oil, autos, and electronics.
The Cedar Rapids Gazette reports livestock prices for Sunday February 4 1962 with bulk cattle trades at 26.75 28.25 late sales near 27.75 and end of prime. Heifers mixed lots 26.25 26.50 four loads at 26.50. Lambs and sheep show mixed to steady pricing, with ranged grades for fed west ern wooled lambs 18.25 18.50 natives 18.00 18.50 and utility to good 13.00 15.50. Slaughter ewes 5.00 6.50.
Chicago report shows hogs under 240 pounds steady to weak while heavier hogs drift higher. Barrows and gilts No. 1 and 2 190-225 pounds fetch 17.75 to 17.85, with earlier week quotes near 18.00. Cattle values slide with slaughter steers and heifers down modestly, cows and bulls mostly steady to lower. grain markets show corn price near 6 cents.
Des Moines reports steady receipts with 30 000 estimated. Week age 33 000 actuals and year age 25 000 with Friday totals 51 000. Butchers score 200 220 pounds with price ranges from 16 50 to 17 00 for 200 220 pounds and descending ranges for heavier animals. Sows weigh 270 550 pounds priced 12 35 to 15 15.
Local UPI sourced data lists beef and pork weights with price points across ranges from 160 to 400 pounds. Prices vary from about 14.25 to 18.35 per hundredweight depending on weight brackets and cuts.
Cedar Rapids markets show Saturday hog prices steady with Friday yields for 200 to 230 lb butchers at 16.00 to 16.90 dollars and some at 17.10. 200 to 230 lb hogs delivered to the plant mostly 16.50 to 16.99, with packing sows 300 lb and lighter at 14.50 to 15.50. Over 230 lb butchers discounted 20 cents per 10 lb to 270, then 25 cents per 10 lb up to 300. Packers face larger cuts: 300 to 360 at 25c less per 10 lb, 360 to 500 at 50c less per 10 lb, and over 500 at 75c less per 50 lb.
Investors Life Insurance Co of Iowa based in Cedar Rapids reports 1961 premium receipts of 1.328 million up from 473 thousand in 1960 and total in force reaching 65 million at year end. Credit life in force rose to 15 million from 5 million. adjusted earnings turn positive to 211,500 after a prior deficit of 69,000.
Russ Wiley discusses common stock investing and long term trends while Cedar Rapids area investment clubs plan joint meetings. About 150 clubs manage accounts in Cedar Rapids and Waterloo Cedar Falls with a Waterloo dinner set for February 12 at Black's Tea Room featuring a columnist on investment clubs.
MINNEAPOLIS Iowans will receive about $4 million in dividends from Prudential Insurance Co during 1962.
Tama chiropractor Dr. B K Teater, practicing four years, is closing his Tama office and moving to Marshall to take over the practice of the late Dr. E W Irvine.
National company seeks a commercial finance broker in Cedar Rapids area and vicinity specializing in loans on accounts receivable inventory and capital equipment. Attractive commission arrangement. Respond to Co A Adams 820 Northwestern Bank Building Minneapolis 2.
Higher rates on time certificates prompted heavy withdrawals from time deposits and savings accounts in Cedar Rapids during January 1962 totaling 6 235 516. Debits from commercial accounts reached 169 692 133 for January 1962 versus 153 760 068 a year earlier. Bank clearings for the week ending Feb 2 reached 8 652 974, up from 7 490 995 the previous week.
Olin Mathieson Chemical Corp researchers in New Brunswick New Jersey say apholate may wipe out houseflies by rendering those exposed unable to reproduce. The compound aims to halt reproduction in flies that contact it.
Sylvia Porter returns with a new Cedar Rapids Gazette series on securities crooks. The feature will cover gangsters in the stock market, the Bradford audio stock swindle, the life of St Patrick film promotion, fly by night promoters, and analysis of New York state laws aimed at curbing illicit stock sales.
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