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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 01, 1977
Page
15
The Dow Jones industrial average closes above 1000 for the first time since 1972, rising 5.56 to 1 004.65 on Friday. Analysts credit improving momentum in the economy and optimism for 1977, though volume falls to 19.17 million shares.
The page lists late quotes from Shearson Hayden Stone Inc and prices for Am. Ins. Fund Am. Rein Archer Daniels Beatrice Foods and others. It includes figures for Consolidated Foods FMC John Deere Kidde Keuffel Esser Life Investors LTV MODCO Mid-America Mid-Continent MIPOCIE Syntex United Fire United Quaranty Univar Winnebago WarnerL. wheel brands and more with varied percentages and price points.
The Marion YMCA winter schedule resumes Monday and runs through February 5. Monday activities include gym, women's and men's fitness, open gym, gymnastics, dance, youth and adult lessons, pool swim times, and a swim team. Marion Business Girls meet Tuesday at IOOF hall for a 6 30 dinner with Joy Sparenborg and Kitty Slutsky on the program.
AP reports from Hong Kong indicate the Chinese government fears the anti radical purge may spiral. Provisional broadcasts urge obedience to directives and warn against quitting jobs to denounce Chiang Ching and the gang of four. Demands for caution follow purges and unrest in Baoting and other provinces as Hua Kuo-feng seeks loyal radicals. The item notes Indochina era troop cuts in 1971.
Friday Cedar Rapids market shows steady hog prices for 200 to 230 lb butchers at 37.50 to 38.00 with 230 to 240 lb cutoffs 25c off and larger shifts up to 1.00 per 10 lb above 260. Packers face 25 to 50 cent cuts per range. sheep lamb prices quoted 45 to 47 dollars for shorn and 42 to 45 dollars for wool lambs. Gold and silver quotes also noted with holiday closure at Wilson Foods in Cedar Rapids.
Tucson reports that three congressmen who may testify or be discussed in John Adamson's murder trial of Don Bolles were a focal point in juror questioning. Judge Birdsall kept probing a panelist about land fraud rumors tied to Goldwater and discussed outgoing Arizona Republicans Conlan and Steiger as possible witnesses.
The Ohio river lock wreck blocks barge traffic delaying salt shipments to West Virginia. Charleston city manager Hugh Bosely warns the city will run out after one more snowfall as two inches cover the area. A dam near Paducah was damaged last week and river levels remain low making resupply unlikely.
The column discusses employee stock purchase plans and the tax impact of selling shares after retirement. It suggests retirees shift from glamor growth stocks to higher income securities, including debt and preferred stock, to manage taxes and maintain income. It notes potential employer stock exchanges to retain stake and diversify, with practical guidance on staged selling and seeking tailored advice from Sam Shulsky.
Washington AP reports that 19 million high earners will pay more Social Security tax in 1977 as the maximum tax rises from 895.05 to 965.25 while the rate stays at 5.85 percent. The cutoff for earnings subject to tax increases to 16500, with 16 million workers earning above it. Self employed tax rises to 1303.50. Government projects a 2.3 billion rise, but benefits gap remains about 4.3 billion.
Rep John Anderson lauds House Ways and Means Chair Al Ullman plan to spend 5 to 10 billion on employment tax incentives to reimburse employers for part of new workers wages. Wright backs 2 billion for state local public works. Carter to meet with leaders next week to discuss proposals.
Transportation Secretary William Coleman said the grounding and oil spill from the Liberian tanker Argo Merchant were caused by human error by the captain and crew. He announced a special task force to review marine safety as the coast guard prepared to sink the bow to prevent navigation hazards.
Civil defense sirens will be tested at 11 am Wednesday for one minute with three to five minute signals for emergencies. YMCA yoga classes begin January 3 for men and women. call 366-6421 or 363-2485 for details. Needlepoint lessons offered. call 363-3973. Ex Club speaker Frank Nye discusses Iowa general assembly at Roosevelt Royale Tuesday noon. Ample Lady Clearance Sale at 1500 1st Ave NE. Montrose games schedule. Buresh Rental promotes log splitter and home equipment. Recovery meeting for nervous and former mental patients Monday 1 pm at First Christian Church basement 840 Third Ave SE. Tonic “There is No Hope less Case” noted. Needlepoint classes with Mrs Madness at Grant Wood Studio 362-5955, 10 am–4 pm Tue–Fri.
Harold J Ward of Johnson Nut Co Cedar Rapids will speak at the Waukon Chamber of Commerce annual dinner Saturday at 6 30 p m at the Waukon Country Club. The program includes a Barbershoppers group and the election of four board members from eight candidates.
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