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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 25, 1979
Page
23
UPI reports a broad snapshot of selected NYSE stocks with last sales figures, including Alcoa, Amex, CocaCola, IBM, Dow components, and many utilities and industrial names. The data cover dozens of issues, showing price moves and percentage changes amid a busy early morning session.
Joliet Illinois cattle markets saw 2000 head with steers and heifers trading 1.00 lower and top steers at 62.75. Good to choice heifers 59.25 to 60.25, no low grade cows. Hogs steady with No. 1-2 200- Hy 1 53.00-53.50 and 230-240 lb 52.50-54. Thursday receipts forecast cattle 25 hogs 500.
New York markets in uncertain session as President Carter pledges recession prevention and Fed chief Miller signals falling long term rates. Dow climbs to about 847.79 at mid afternoon, NYSE index rises, but advances still lag decliners amid active trading. </analysis>
Des Moines hog trade remains slow with steady to firm butchers and sow prices. Receipts estimated at 75,000 with regional market notes and futures activity on the Chicago Mercantile Exchange showing prices steady to unchanged. Corn and soybeans quotes from Cedar Rapids processors reflect modest gains and steady oats with precise crop prices listed.
The dollar slipped in Tokyo but rose slightly in Europe as gold prices edged down. It closed at 198.075 yen in Tokyo, with minor gains in Zurich, Frankfurt, Paris, Milan, Amsterdam, and London. Gold quotes eased from Wednesday levels in Zurich and London.
Cedar Rapids market reports steady to slight declines across hogs cattle and sheep. Butchers and packers priced around 52 to 60 dollars for various hog weights with discounts at higher ranges. Cattle top at 59 dollars for steers 1 000 to 1 200 pounds and heifers 57 to 59 dollars for 900 to 1 050 pounds. Sheep lambs priced 68 to 75 dollars with discounts for heavier lambs.
Robert S. Wood, former used car sales manager at Bob Zimmerman Ford Inc. in Cedar Rapids, sues for 500000 for wrongful termination. He seeks 12370 unpaid commissions and claims president Robert E. Zimmerman made unjust wage deductions from August 1977. Wood says his dismissal was involuntary and retaliation for imagined overwhelming sales.
Network Data Processing Corp of 321 Third St SE shows a turnaround after a fiscal year loss of 763,852. With three quarters of the current year complete, President John D. Ballard reports an estimated net profit of 50,000 and plans to market new insurance industry software by April 1. The firm, founded in 1956, provides data processing services to insurers, businesses, schools, and municipalities.
The Cedar Rapids Community School Board narrowly approved Kennedy High School field trips for the Concert Choir to Los Angeles in March 1925 and for the Kennedy Thespians to Minneapolis February 3 and 4. Budgets and enrollment funding were also discussed as the board noted a declined funding request from the Iowa School Budget Review Committee.
Five drivers were arrested and charged with drunk driving in Linn County. John W. Nichols, 26, arrested after a collision on Oakland Road NE. Terry A. Thein, 31, arrested after a crash near 16th Avenue and Sixth Street SW and charged with loss of vehicle control. Judy R. Edwards, 26, arrested with driving without a valid Iowa license. Jack L. Mann, 30, arrested for speeding. Truman H. Morgan, 22, arrested for failure to drive on the right side and license issues. A 1949 Israel election note appears.
Weyerhaeuser Corp reported 1978 earnings of $2.85 a share on sales of $3.8 billion, up from $2.30 and $3.4 billion the prior year. The $304 million profit included a $41 million charge for civil class action antitrust settlements. Fourth quarter results were not disclosed in the preliminary year report.
Iowa Power and Light Co. reports 1978 earnings of 3.62 dollars per average share of common stock. President and chairman Dwight H. Swanson notes an increase from 3.14 dollars in 1977. Fourth quarter earnings were 0.72 dollars per share versus 0.71 dollars in Q4 1977.
Winners listed for Wednesday at the YWCA include North-south Clayton Mossman and Dr J J Impehl first with Ova Jenkins and Mrs James Smittkamp second, and east-west Mrs Clarence Mainer and Mrs Vernon Hendryx first with John Butcher and Royce McCray second. The next game is set for Wednesday at 7 30 p m at the YWCA.
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