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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 14, 1978
Page
17
Abbreviated market briefing with selected New York stocks and composite prices from United Press International. Lists many company symbols and percent changes, highlighting notable gains and losses across multiple sectors.
Linn County court records show arrests from Nov to Dec for Herbert Counter Kevin Morthway Leland Osmundson and others with dismissals and deferred sentences. Several defendants pled guilty receiving fines or short jail terms while others faced probation and deferred sentencing. The Des Moines market report and Midwestern meat markets accompany the legal notes.
New York prices opened higher but pulled back to a mixed close as the Dow Jones average fell 2.42 to a 33 month low of 775.73. The week’s loss reached 55.44 points with the Dow finishing the day down overall. The NYSE composite edged 0.03 lower and volume slowed to 18.01 million shares. The dollar strengthened early on but faded as the session progressed. The American Stock Exchange index rose 0.18 to 120.64.
Economists favoring tax reform considered integrating corporate and personal taxes to end double taxation on dividends. Proponents say it could boost capital formation and progressivity, but the plan faced divided opinion among business leaders liberals and analysts, with concerns over regressive effects and shareholder pressure for higher payouts.
Marion Independent School District announces phone number changes. Mentzer School now uses 377-9884 for the principal's office and 377-7497 for Food Services. The nurse and Instructional Materials Center keep 377-6197 and 377-0635. Marion High School consolidated to 377-9891, directing calls to various departments.
Senator Dick Clark of Iowa will address Marion High School on May 21 at the graduation ceremony. His daughter Julie is a 1973 alumna of the same school.
Cedar Rapids area markets show soybeans retreating with new crop at 5.795 and old crop at 5.845 per bushel, white corn steady at 3.35, yellow corn 2.06 for Feb and 2.04 for Jan, oats 1.29, with deliveries to Cedar Rapids processors by 2:30 p.m. Friday. Pro Farmer Grain provides the quotes. Reports also note broadly steady to lower prices, mixed farm eggs, and active livestock trading in Sioux City and Omaha with higher hog and cattle quotes and sizable receipts expected.
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