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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 17, 1976
Page
12
In New York, aided by favorable earnings and lower rates, the stock market ended the week on a higher note. The Dow rose 4.73 to 929.24 as trading remained active on the New York Stock Exchange, with about 25 million shares changing hands and weekly volume near 158 million.
USDA bulk selling prices Friday show butter delivered to Chicago at 90.00 for 93 and 92 scores and 90 score best. Egg prices paid to delivery firm. retailers face Grade A in car tons delivered with extra large 73.4 73.0, large 72.0, mediums 66.2. No 1 yellow corn 2.38, No yellow soybeans 4.48, 33 lb oats 1.56. Friday’s price delivered. On this date in 1975 India barred Israel and South Africa from a table tennis tournament in Calcutta.
Chicago Board of Trade closes higher for corn and soybeans as wheat and oats slip. March corn at 2.7014, soybeans up to 4.5, oats and wheat mixed. Des Moines livestock trade shows moderate demand with higher prices for some weights, while dressed meat markets see slower pork and beef activity. Estimated receipts 60,000.
The Federal Reserve Board cut the rate charged to member banks from 6 percent to 5.5 percent, the latest move after a steady drop in the prime rate by commercial banks. The action signals the Fed’s aim to influence economic activity by adjusting borrowing costs and the money supply.
The Federal Reserve Board reports December industrial output rose 1 percent, led by autos, steel, textiles and machinery. After November's 0.5 percent gain and October's 0.4 percent rise, the upturn signals broader production gains and potential employment improvements. Former Attorney General Nicholas Katzenbach turns 54 today.
The most liquid and safe option is a day to day bank savings account insured by the FDIC or FSLIC backed by government guarantees. Treasury bills offer safety too but require market liquidity considerations. consider keeping two thirds of funds in growth-oriented equities for long term growth, with a savings portion for emergencies.
A call urges Iowa voters to attend precinct meetings on January 19 1976 to restore the party to the wishes of average citizens. It warns against liberal influence and urges participation to influence the Democratic National Convention. It invites readers to attend at 8 p.m. and vote their conviction.
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