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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 27, 1968
Page
16
New York stocks closed higher after an early setback as glamor issues and blue chips led the rebound. Trading was fairly active with enough investment buying to push the Dow Jones higher, though gains were irregular.
Industrial averages rise with Occidental Petroleum and Gulf & Western gaining fractions. Heavy trading lifts Control Data Monogram Industries and Allis-Chalmers as the American Stock Exchange trends higher amid broad activity.
A dense financial table lists over the counter and listed stocks with prices and percentages. Footnotes explain dividends, stock splits, and special payments from 1967 to 1968 including extra or liquidation dividends and ex-dividend dates. It notes unofficial sales figures and notes on bankruptcy or reorganization for foreign issues.
Prices on the Cedar Rapids hog market fell 25 cents for butchers and held steady for sows. Monday’s delivered butchers 200 to 230 pounds sold for 19.00 to 19.50, with various weight and grade discounts for larger hogs. Cattle prices ranged from standard to prime, with ranges noted for steers, heifers, cows, and bulls, plus discounts for overfat beef and specific weight brackets.
Alabama will field an integrated delegation to the Democratic national convention for the first time in modern state history. Joe Reed of Montgomery and Arthur Shores of Birmingham won seats as delegates after Feb. 24 without opposition.
Chicago AP reports butcher hogs sold steady to 25 cents lower while slaughter steers held and sheep were too few for a valid test. Estimated receipts for Wednesday include 2000 cattle 4000 hogs and 100 sheep.
Hogs for 4 000 head with varying classes. Butchers steady to 25 cents lower for several weight ranges. Sows up to 25 cents, boars 15 to 16 dollars. Cattle about 1 000 head with steer and heifer yields cited. Sheep market insufficient for test.
Trade slow with demand generally good and butchers steady or down. Receipts estimated Tuesday 45 000 actual weekly 45 000 year 84 000. prices listed for various cattle sizes and weights with ranges given for U S 1 3 and sows across weight classes.
Sioux City cattle markets show slaughter steers mostly 25 cents lower with choice 1,050 to 1,200 pound steers at 26.00 to 27.00 and 925 to 1,000 pound heifers at 25.00 to 25.50. Calves not listed.
In Omaha with UPI reporting, calves and steers showed weakness while cows and heifers remained under pressure. Prices for choice and prime ranged around 26 to 30 per hundredweight with various grades showing declines. utility and commercial cattle traded in the mid-teens.
United States livestock market results from four Iowa auctions show slaughter cows steady to 50 cents higher, feeders mixed with calves and feeders varying. Cattle prices listed include steers and heifers across weight ranges with bids for pigs and sheep noted, plus per head and per hundredweight figures for various categories.
Cairo reports Egyptian spokesman Monnight rebuffed Israel’s call for direct negotiations under UN auspices. He said Israel must comply with peace proposals already approved by the UN Security Council.
Wheat futures fell around a half to one cent per bushel while corn edged up and down, oats moved broadly between four and five cents, rye held steady and soybeans posted slight declines in a Chicago market close reported by AP.
Grain quotes for corn soybeans and wheat appear with mixed bids. Cattle and calf prices vary by weight class with limited supplies and steady to lower bids noted in Des Moines and nearby markets.
Wholesale buying prices across categories show little change with minor 1 to 2 cent upticks in some cuts. Potatoes and butter stabilize with steady demand. eggs and other perishables reflect quiet activity. Regional market details include Minnesota North Dakota red river valley round reds and Florida 50 pound sacks with limited new supplies.
Ford Motor Co outline a 5.9 percent price rise for new Econoline vans and Club wagons to debut March 15 with an average $139 increase. Lynn Townsend of Chrysler had hinted at 1969 model price rises, citing rising labor and material costs. Ford says the new models are bigger safer more comfortable and convenient than current models. A nationwide two month strike.
Ford announced last fall that Econoline vans and wagons would debut on schedule, with 1967 models now in service. The new line will feature a 15 inch longer wheelbase seven inch broader axle tread and 37 percent more floor area in standard length units.
Northwestern Bell Telephone reports 1967 expenditures reach a record 159 million for facilities equipment and buildings marking an eighth straight rise. The year added 150 000 telephone lines and increased long distance use by 6.3 percent while expanding central office capacity and dialing reach.
The report covers Iowa Minnesota Nebraska North Dakota and South Dakota. Revenue rose 6.2 percent while expenses grew 5 percent. Tax payments including federal excise and state sales taxes totaled 146 million dollars for the year, averaging 44 dollars per telephone. Earnings per share were 2.39 dollars, up from 2.35 dollars in 1966.
In Mexico City a tank truck overturned and exploded as children left a nearby primary school. Six people were killed and 65 injured, many with severe burns from spilled gasoline. The driver swerved to avoid a speeding car, police said.
Salvage workers found the body of another quake victim in Palermo Sicily bringing the known death toll from the January 15 quake to 281.
The Treasury reported the gross federal debt at 352.546 billion dollars as of February 21, the day before Washington’s birthday. New cash borrowing of 425 billion dollars that month raised both cash balance and debt by the same amount, pushing the debt subject to the 258 billion dollar ceiling higher by about 2 billion due to participation certificates.
A brief classified item invites readers to use the number 369 1234 for guidance on buying selling or trading items. The tone mimics simple classified inquiry lines. No specific names or places are included beyond the contact number.
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