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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 03, 1966
Page
11
Financial and market notes report a downbeat session with hogs steady to 25 cents lower as steel prices dip and broader stock activity weakens. Copper rallies follow new price moves from Africa and Chile, while IBM and GE drag major stocks. In Chicago, USDA estimates and cattle prices hint at softer meat futures later this week.
Chicago AP reports broad advances in grain futures with wheat up 142 to 153 cents per bushel, corn 15 to 16 cents higher, oats and rye up around 34 to 41 cents, and soybeans up about 24 to 26 cents as scattered resistance remained limited in early afternoon trading.
Des Moines receipts and livestock prices show demand fairly good with butchers steady to slightly lower and sow values down. Sioux City trade slows on slaughter steers and heifers with limited test data, prices for high choice cattle and mid range soybeans noted in the regional market summaries.
William C. Hubbard was named mayor of Iowa City for 1966 at the city council organizational meeting. Hubbard succeeds Richard Burger, who had served as mayor the last two years.
Marion City Council heard a proposal from City Manager Crivaro to remodel the rear of city hall for extra office space on the garage’s second floor. Two bidders exist, with proposals to be mailed for study as a library room and space for the police court judge, mayor, manager, and engineer were urged. A Sioux City couple perished in a trailer fire, and council swore in new and reappointed officials including Mary, Smith, Grundy, Grimm, and Livingston.
Independence gains new police leadership as Mayor Funk names Lyman Albaugh police chief to succeed Art Kitner with Garland Newton as assistant chief. Five new council members take office, and amended committee lines, plus city auditor Mc Gladrey firm reappointed, are noted amid local notices.
A reader asks how a 100 share buy order at 544 could be bypassed as the stock sold at 4% and 5% later in the day. The next morning quotations show a low of 454, suggesting a possible error at 484. The adviser urges checking directly with the involved exchange for clarity.
AP reports wholesale butter steady to 14 lower with 93 score AA at 60 cents. Eggs unsettled with whites mid 30s, potatoes arrivals 188 and good demand, Idaho russets 4.10 to 4.20, Red River Valley reds around 2.60. New York offerings ample with mixed demand and 93 score creamery butter about 62 cents.
Belgrade AP report says Politika the major communist party paper notes a pause in U S air strikes on North Vietnam and optimistic statements abroad bolster hopes for a peaceful settlement. It cites Johnson envoys, including W Averell Harriman, meeting President Tito.
In Seattle Elliott Bay a T-38 trainer piloted by Maj. Gen. I. L. Branch disappeared from radar during approach to Boeing Field. Col. W. H. Price said the general was en route on Air Force business and alone in the craft.
President Johnson called top advisers to conferences on Vietnam foreign policy and the effects of a Bethlehem Steel price increase. Vice President Humphrey reported on his Far East tour with Defense Secretary McNamara and Secretary of State Rusk present.
The Bohemian Savings and Loan Association of Cedar Rapids Iowa will hold its annual meeting January 15 1948 at 4 00 PM in the Trust and Savings Bank Building. The 1965 statement will be read election of officers and directors will be held and other business considered. First Federal Savings and Loan Association of Cedar Rapids will hold its annual meeting at 2 First Avenue NW Cedar Rapids Iowa on January 1966. Harvey C TacClary is president and Carl F Volesky secretary attest.
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