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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 21, 1978
Page
16
United Press International lists a wide array of names with per share figures on late evening totals. The compilation shows multiple equities including Abbott, Alcoa, American Airlines, Amex stocks, Exxon, Coca Cola, General Electric, and robust cross sections across Amex and NASD markets with highs and lows noted.
The Commerce Department cut the final quarter 1977 GNP growth to 4 percent from 4.2 percent citing a worsening trade deficit. The revision shows a slowing economy after three years of recovery, with 1977 overall growth estimated at 4.9 percent versus 6.0 percent in 1976. Imports rose and foreign investment in U.S. securities helped prop up the dollar.
Des Moines reports mixed hog market with steady to lower prices across weights. Sows and larger feeders show declines while lighter hogs hold near prior quotes as receipts compare to last week and year. Also notes lightly traded live hog offerings and egg price trends with modest demand and ample supplies.
American Motors Corp president Gerald Meyers says the firm will sign a broad agreement with a foreign automaker in 1978. The plan may include manufacturing the partner’s vehicles at AMC plants in the United States and selling them through AMC dealers. Peugeot and Fiat are among likely partners. On this date in 1855 educator Alice Freeman Palmer was born.
New York reports a continued market slide with heavy institutional trading in utility issues. The noon Dow Jones average fell 3.42 points to 748.87, following a 23.30-point drop last week, as volume on the Big Board reached 9.88 million shares by noon.
Preschool registration for Czech culture and heritage classes is scheduled Friday from 11 a.m. to 3 p.m. at the Salvation Army Community Center 1000 C Ave NW. Classes start next week at 10 to 11 a.m. daily.
Bruce Eichacker of Amana Insurance Agency was elected president of the Professional Insurance Agents of Iowa at the group’s annual convention in Des Moines. Eichacker, general manager of the Amana Society Insurance Agency, will serve a one year term.
Bills move through committees and chambers with wide margins. HF547 allows birth certificates for adopted persons born abroad, HF571 grants a natural gas line easement at Woodward hospital school, SF2006 classifies shatter cane as secondary noxious weed, HF2099 lets rules be published in pamphlet form, SF2119 shifts trial costs and confinement expenses to counties, SF2120 reimburses counties for confining parole violators, HF616 defines incendiary device, HF2068 changes boiler inspection law, HF2165 allocates 1 320 778 from IPERS, HF2170 allocates 5 279 625 for General Services.
Ford recalls about 47 000 U S built vans and trucks to dealers to inspect automatic transmissions. The units include 1978 Econo line Club wagons Bronco and F Series pickups with tilt steering. An additional 2600 Canadian models will be checked for a misassembled transmission selector lever spring that may fail to hold the lever in park.
UPI dispatch notes slow beef sales with no steer or heifer deals, while pork shows moderate activity and varied cuts. Prices listed for 500-700 lb choice heifer beef at 70.25, pork loins 14 lb down and 14-17 lb exports around 90.00, hams and bellies steady to lower across several weight ranges.
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