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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 16, 1979
Page
16
Nationwide composite prices show United States stocks trading with vast listings and varied P E ratios from Amex to NASD. The report lists companies such as Exxon, Ford, General Electric, and IBM with bid and last sale figures, and notes Dow Jones and S P index readings alongside agricultural price bullets for Butter Eggs and pork meat in USDA reports.
New York stocks eased ahead of a holiday break as traders stayed on the sidelines. The Dow slipped to 827.96 by midafternoon, while the NYSE index held at 55.39 and most issues barely moved. advances beat declines 519 to 537 among 1,670 NYSE items.
Livestock markets show slow hog trade with steady butchers and mixed receipts, prices listed for various weight classes and sows. Grain quotes from Cedar Rapids processors include February to new crop corn at 2.18 to 2.27 and soybeans at 7.13 to 7.38, with eggs and market notes on oversupply and cold road conditions.
The dollar edges higher in Europe and Tokyo while gold slips after Thursday’s sharp rise. Rates show modest gains against West German marks Swiss francs and other currencies, with the pound near $2.00 and Tokyo close at 200.45 yen. Gold in Zurich falls to $245.88 per ounce as London bullion fixes $245.95.
The Cedar Rapids hog market stayed steady for butchers and packers at up to 550 lbs and sows over 550 lbs. Prices for country and plant delivered butchers 200 to 230 lbs were 54.00 to 54.50. Sows to 550 lbs were 46.50 to 47.00 and sows over 550 lbs were 46.00. The hog office number is 398 5966 and will close at 3 pm today and be closed Monday for Washington's birthday. Hogs resume after 7 am Tuesday with weight breaks and deductions for heavier hogs and packers. Thursday cattle ranged 61 to 64 for steers 1000 to 1200 lbs and 59 to 63 for Heifers 700 to 1050 lbs. Sheep market: shorn lambs 70 to 72, wool lambs 66 to 70, with lambs over 105 lbs discounted. Webster City Friday market had no trend.
Iowa House and Senate Democrats proposed a tax plan that they say would save residents more than 46 million dollars. It doubles the basic standard deduction and indexes it to inflation, increases the deduction cap to 20 percent, and adds a renter’s tax credit plus an elderly credit as direct income tax credits.
The second of three Democratic Party conferences at Kirkwood Community College Cedar Rapids reports more than 110 reservations. U S Sen John Culver opens at 8 30 a m with a 9 a m keynote. Former Rep Mike Blouin closes at 4 30 p m.
IPBN plans six year expansion including weekend programming and broader governmental coverage. The plan explores reducing daytime K-12 broadcasts and promoting classroom cassette libraries while surveying users over several years. Ron Thole urged educators that changes require demand and need.
Life Investors Inc board in Cedar Rapids approved a 25 percent dividend increase for the first six months of 1979, to 10 cents. Record date April 13 and payable April 27. Company assets top half a billion dollars. 1978 earnings reach a record $13,408,000 with insurance revenues up 27 percent. Expansion includes Life Investors Insurance Co. of America licensed in Michigan and Canada’s Ontario and British Columbia.
Sioux City livestock report shows hogs 2,000 head mostly 50 higher than Thursday sales. Barrows and gilts steady, U S 1-2 200-240 Ibs at 57.00-57.25, 250-290 Ibs 53.50-56.75, 290-330 Ibs 51.50-53.50, sows 25 higher at 49.50-49.75 for 350-650 Ibs.
The Dave McTaggart family watched their two story home burn at 3 30 a m in minus 15 degree weather when a wood stove exploded while stoking the fire. The $30 000 structure was destroyed but McTaggart his wife and baby escaped unharmed and stayed with nearby relatives the Leon McTaggarts.
Omaha prices show hogs steady to 25 higher with light gains on heavy weights. US 1-2 and 1-3 hogs quoted at 6.50 to 57.00 and 55.50 to 56.75 respectively. Sows up to 1.00, cows steady around 47.00. Cattle and calves trade not fully tested. 4,500 cattle and hog receipts forecast for Monday.
Rockwell International declares quarterly dividends on common and preferred stock and names Robert Anderson as chairman and CEO with Donald Beall as president and COO. Anderson succeeds W F Rockwell Jr who retired. Anderson has led Rockwell since 1974 and joined in 1968. Beall has been executive vice president since 1977 and led electronics operations. Rockwell owns Collins and MGD Graphics in Cedar Rapids.
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