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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 18, 1979
Page
24
UPI reported composite stock prices as of 10:30 a.m. with broad listings from NYSE and other markets. Notable names include Alcoa, Boeing, IBM, Coca Cola, Exxon, Texaco, General Electric, and Ford with varied gains and losses reflecting intraday moves. The Dow Jones and S&P quotes show slight declines amid market activity, while a Webbster birthnote marks the date.
A local Cedar Rapids transport service offers door to door bus assistance for seniors and disabled riders. Dial 363 8244 for information and scheduling options.
The market climbed after a stronger than expected fourth quarter GNP gain of 6.1 percent and solid earnings. The Dow edged up to 838.09, NYSE index rose to 55.84, and trading remained active with 1,696 issues on tape. Livestock markets in Sioux City showed higher hog and cattle prices, with steady to firm demand.
USDA price report shows butter in Chicago unchanged at 111.30 for both 93 and 92 scores. Eggs to delivery unchanged. retailer cartons list extra large 71 to 75 cents, large 71 to 73, mediums 67 to 69 per dozen.
UPI dispatch notes light to fair demand in pork with varied prices for loins hams bellies and seeds, including fresh loins 14-17 lb at 119.25 and 12-14 lb bellies at 54-56. Beef trade slow with limited activity and steady steer and heifer beef in the 500-800 lb range around 95.50 to 99.00.
The dollar edged higher in Tokyo to 196.825 yen while gold fell in London and steadied in Zurich. European morning rates showed mixed moves with Frankfurt and Paris lower, Zurich up, and London at near two dollars per pound.
Cedar Rapids hog market held steady for butchers packers and sows with reported prices for 200 to 230 lb hogs at 51.50 to 52.00 and sows 43.00 to 43.50 for under 550 lb and 42.00 for over 550 lb. Cattle and sheep prices ranged with steers 59 to 61 at 1000 to 1200 lb, heifers 57 to 60 at 900 to 1050 lb, and lambs 72 to 75 for shorn and 68 to 72 for wool. Grain quotes show No 2 corn around 2.13 to 2.15 for January to new crops, soybeans about 6.74 to 6.76, oats 1.53, with White corn 2.75 per bushel.
City Council and FACT cut about 2 million from department head requests for revenue sharing funds, leaving roughly 1.3 million plus interest for 1979-80. Key cuts included sanitation, parking, riverfront, and swimming pool projects, with reserve funds and bus operations costs set aside for later review and possible bond sales. Public hearings are set for March 7 and decisions will be reexamined during budget setting.
Rockwell International posts $64.7 million earnings or $1.83 a share for the fiscal Q1 1979 ended December 31, up 55 percent from a year earlier. Sales total $1.5 billion, up 15 percent, with gains in automotive and electronics and a $10 million aerospace gain from asset sales. Backlog falls to $3.7 billion from $4.1 billion a year earlier. division specifics not disclosed.
Iowa hog market reports slow wholesale demand with butchers steady to 50 higher and sow prices steady. No 1 2 hogs ranged 200 230 lb up to 53.50 for 240 lb, 230 250 lb 51.25 55.50, 250 270 lb 49.50 52.00, 270 300 lb 47.50 50.50, No 1 3 sows 300 600 lb 43.00 45.50. Estimated receipts 75 000 versus 68 000 last week and 58 000 year ago.
Des Moines reports undertone steady with light offerings and cautious buyers. Some plants on three day schedules due to tight supplies while demand ranges from moderate to good with incentives shaping prices. Grade A large 56-57c, medium 51c, large A 39-41c, medium 28-30c, Grade B 20c.
A 66 unit Memorial Meadows apartment complex faces the City of references Zoning Committee as neighbors protest the proposed rezoning from single family to multiple family on Memorial Drive SE. Petition signatures cite traffic and property concerns ahead of a Tuesday 3 PM City Hall vote. Cary Grant turns 75 Muhammad Ali 37 Danny Kaye 66 today.
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